Smartsteem.com offers multiple services. One of those is our bid-bot:
Smartsteem.com offers multiple services. One of those is our bid-bot:
@smartsteem - the currently 2nd biggest bid-bot with over 2 Million Steempower, where you are able to buy votes by bidding for a share of a 100% vote. The votes are then cast every 245 minutes.
Over the last few weeks, we've analyzed the landscape of similar services and realized that there is big potential for improvement.
That's why we've made some changes to improve our service for our vote-bidders, delegators and for us, as well.
Problem: Overbidding
If you have used a bid-bot before, the chance is high that you were over-bidden at least once.
Which means: multiple users bid and paid more SBD & STEEM than what the vote was actually worth and the result is: loss of investment.
Paying 20 SBD for a 30$ vote (11.25 SBD + SP after Curation) is not fun and for many smaller users, a drastic loss.
There are different reasons for overbidding and we believe that we've eliminated nearly all of them.
@smartsteem - the smartest bid-bot available
smartsteem (63) in steem • 2 days ago
Smartsteem.com offers multiple services. One of those is our bid-bot:
@smartsteem - the currently 2nd biggest bid-bot with over 2 Million Steempower, where you are able to buy votes by bidding for a share of a 100% vote. The votes are then cast every 245 minutes.
Over the last few weeks, we've analyzed the landscape of similar services and realized that there is big potential for improvement.
That's why we've made some changes to improve our service for our vote-bidders, delegators and for us, as well.
Problem: Overbidding
If you have used a bid-bot before, the chance is high that you were over-bidden at least once.
Which means: multiple users bid and paid more SBD & STEEM than what the vote was actually worth and the result is: loss of investment.
Paying 20 SBD for a 30$ vote (11.25 SBD + SP after Curation) is not fun and for many smaller users, a drastic loss.
There are different reasons for overbidding and we believe that we've eliminated nearly all of them.
Revenue Loss Limit
Our first measure against overbidding and pro-profitable & -neutral bids is through our Revenue Loss Limit.
We believe that a bought vote should be used for promotion and not in the first place for profit-reasons, however - as we've written above - losing a huge sum of money is not ok.
That's why we decided to put our Revenue Loss Limit at -10%.
This will protect you from losing your invested SBD & STEEM through overbidding - by putting your potential loss at a bare minimum of 10%.
But keep in mind that vote-bidding is still somewhat risky and not as guaranteed as instant votes from our vote-selling market, @smartmarket. (smartsteem.com for more info)bestlxsobuj2019