I have been reading about the community for months and had been hesitant as I have come to believe that anything too good to be true probably is. However, after reading other reviews and no actually experimenting with the process, I can say that this is a great way for Steemians to add value to their content and the supporters they atttact to the ecosystem. I will avoid going into the discussion on bid bots in general and instead focus on why I believe it is a great tool for many and why (and how) I will continue to use it.
Unlike a bid bot, the @ocdb bot will provide you an upvote that will provide a 10% return on your transfer all things being equal. Important to note that it is given the amount received at the value of the currency transferred at that point in time. Like many concepts in cryptocurrency, prices are volatile and you can never guarantee the price wil be what you expect when exchanging in a future period of time. However, the days of trying to game the bots to profit on bids is essentially over as there are no formal bids here; your vote will be put on a queue which is displayed on the website with the expected remaining time for the upvote. This timing is due to the fact that the bot only votes when it reaching 100% of its Voting Power. However, this is a part of what adds value as not only does it provide transparency regarding expectations, but it also provides the opportunity for curators to front-run votes of a bot that could provide returns in itself.
I was fortunate enough to be whitelisted and become part of this community recently so please feel free to add or provide feedback if I have left anything out of am missing anything in any part of this post as I go into some of the interesting metrics of the results. I used the great website by @steemchiller steemworld.org for my figures presented below.
I truly believe that content should be promoted when it is content that is informational and/or adds some type of value to the ecosystem. I chose to use my weekly #introduceyourself post as my guinea pig for this experiment as I believe that any initiative to motivate and promote new users is a great one to add long term value to the community. It has been a cornerstone of my content for over 30 weeks and has provided me with great engagement from the community over time. I decided to send 20 Steem for the promotion which at the time was value at approximately $8.37. It immediately went to the queue where it would be upvoted about 22 hours later.
As seen, the driver of the value of the post was the upvote from @ocdb with an upvote value of $10.47. This is materially more than the $8.37 (20 Steem) transferred as the bot takes the payout of curators into consideration which approximately 25% of the payout. This is where I think this becomes a great community project as it is an opportunity for supporters to get more value for their support! I honestly did not even calculate my Return as the thought from my side is how this rewards my supporters whom have consistently been providing motivation for me to remain consistent. That is what I would like to focus on here.
The prior week’s post is what I would consider a normal payout for this weekly content I have been consistently engaging with for months. There was no significant upvotes provided so it was a great selection to compare with the @ocdb promoted post the following week. While results will always vary considering the algorithm of the protocol due to timing, I think the comparisons will demonstrate the value added of the promotion. While the upvote from @ocdb is not the only variance, most of these upvotes have been consistent for me as of late. I want to focus the comparison on two curators to highlight the difference they get from the promotion.
I will start with @abh12345 which is an active curator whom I have been luckily to cross paths with many times. He voted both posts with the same value of $0.04. However, his curation reward measures in SP went from 0.039 to 0.111 which is a substantial increase for no changes in effort. When I use approximate payout value based on estimated Steem prices at payout, that provided @abh12345 an increase in return as well. The return on the $0.04 vote was 42% but went to 94% the week of the promotion! He seems to be a curation genius!
Another user I want to highlight is @curatorhulk which I have been lucky enough to get support from recently. His votes slightly varied week over week as it went from $0.83 to $0.75. However, the curation reward also benefited from then promotion as it went from 0.487 SP to 1.064 SP. This represented a consistent increase in returns for the curators from 25% to 48%. However, interestingly the return was less than the genius @abh12345. I believe this may be due to the timing of the votes but ot is interesting as it could lead to questions regarding thr effectiveness of stake versus timing and proof that curation is actually working (no intention to stir a debate).
It seems that the experiment that was originally put in mind by @revisedsociology has been successful in that using the @ocdb bot proves to be a great way to incentivize my supporters. The question would then be, what is in it for me? I believe that the profit being guaranteed is good but what I enjoy seeing is that I can use my liquid Steem and SBD to further grow my Steem Power by gaining a higher margin by investing in the vote. So instead of converting and powering up, liquid Steem and SBD can be used to get an additional 10% for powering up. With the benefit extending to supporters, it is a great situation for all those involved!
This is how I get to my thought of using it more consistently in the future. I have seen that more users on the whitelist are using it often which is a great sign for the community. My thought is to use it when I have extra liquid Steem or SBD for posts I believe add value to the ecosystem. In addition, I will disclose on the post when I will use it in order for curators to benefit from the increased rewards possible as demonstrated. This could be one of the missing tools I have been waiting for to add more efficiency to my building of Steem Power without taking away from others. Look forward to future thoughts and feedback! Thanks!
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Thanks for the review. While I don't like bots I principle, I must say that I've come to like the one I use (ShadowBot). I think that used correctly they can help the community - instead of how they are normally used to the opposite effect.
Agreed! Seeking value creation shoukd be our goals when we allocate resources! Right now, the community is our best asset so we need to foster it.
Posted using Partiko iOS
How can I get on the ocb whitelist?
@acidyo often posts a place where people can be nominated but there are also those in the community that can nominate you at almost anytime. The community is still small but building to expand and help the recognition of it. It will eventually happen as long as you remain consistent and honest on your content.
Posted using Partiko iOS
Gotcha. Wasn't sure if that was how it worked or if I was just missing the sign up link lol
Posted using Partiko Android
Thanks for checking up on this for me, it seems my timing is good for your posts (although now it's been highlighted I think it will be less so as others could move their vote time!)
I'm also starting to use OCDB more aggressively with varying amounts depending on how I feel my posts are quality/interest wise.
I didn’t get that deep into the curation part but it gets more interesting everytime I do look at it. I need to start thinking about optimizing a bit more!
Posted using Partiko iOS
This 25% to 48% increamentt in curation you are talking about the raise in curation rewards right. So basically if i will calculate from 100SP for curation trail how uch can be ROI in terms of annually ?
Posted using Partiko Android
This was a calculation that I made to measure the curation reward amount (converted to USD value at the time of payout) divided by their upvote value. In theory it is not a return as an upvote is only really an opportunity cost but thought it would show a similar concept.
Posted using Partiko iOS
how do you get whitelisted there? i’ve been here since december 2017 and i don’t think i’ve been curated by them? is there something i should be doing or looking into more?
i do plead a bit of ignorance though. i haven’t looked into it much but will do so because of your post man. thanks for the insight.
(edit: i am whitelisted apparently lol i had no idea. time to do some research now lol)
LOL! I just checked and saw you there! It sort of just happens! You should catch up with some of @acidyo’s older posts or head to the Discord. They are always looking for community members to help curate!
Posted using Partiko iOS
man i suck. ya you are right. i’ll poke around there tonight. thanks for the heads up.
Posted using Partiko iOS
Their delegation offering is great as well!
Posted using Partiko iOS
Greetings @newageinv.
Excellent information, thanks for sharing. I have learned a lot with your publications.Anything that helps! Thanks!
Posted using Partiko iOS
A perfect sharing from you. Thank you for this valuable post. Curation incime is very important for new users like me. I will look for joining this community. Thank you again
Posted using Partiko Android
It is a great feature here and in the long term will provide a great win/win scenario to community participants!
Posted using Partiko iOS
Welcome to Steem @newageinv.
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Hi and welcome here! When I started on steemit, my biggest problem was to find interesting people to interact with. So, to help newcomers getting started I created a directory with other interesting and or talented steemians to follow or interact with. Feel free to check it out at https://www.steemiandir.com I am sure it will help you find like-minded people. Enjoy your stay here and do not hesitate to contact me if you have any questions!
Note: I was having trouble posting this tonight and after I did it seemed to have included the #introduceyourself tag due to me mentioning it in the text. Sorry for any confusion this may have caused!
Posted using Partiko iOS
Hi @newageinv!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 5.418 which ranks you at #702 across all Steem accounts.
Your rank has improved 16 places in the last three days (old rank 718).
In our last Algorithmic Curation Round, consisting of 195 contributions, your post is ranked at #15.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!