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RE: Truck art and Decoration: From trash to treasure
Is using bidbots profitable? I see that you have send nearly $30 to bidbots but your post reads just $25. I am planning to invest some steem over here and really wanted to know if it is lurative.
Hi Satya,
I sent 30 or 35 steem not sbd.
Bidbots can be profitable at times but can make small losses as well when some one over bids in the last moment. I don’t know why people bid in a negative ROI but they do.
It also depends if the price of steem or sbd going up or down. You don’t mind if the steem price is going up but you could end up in losses if the price is going down like now. If you’re powering up 100% on rewards then it probably doesn’t make much difference if you look at SP you are accumulating and not the value in dollar. If everything stays the same then you could have 10-15% ROI.
So no definitive answer if you can make money but there is a chance and the bots are good if you want to promote your content and helps to build up your reputation.
I am still finding my ropes here on steemit.
Here are few links by other steemians. The posts are old but the content is good
https://steemit.com/steemit/@jrswab/how-to-use-steemit-bid-bots-effectively
https://steemit.com/blog/@webcoop/how-to-have-bigger-roi-when-using-bid-bots
Hope you find them useful. I think its right time to invest in steem at present if you’re thinking of investing. Only invest what you can afford to lose.
Yes.. I used to make use of bidbots during my initial days here. At times I remember I used to get 200% ROI. Bots like @randowhale were giving some unexpected huge votes. But now the entire scenario has been changed. Today I bought some votes from 3 bid bots( In my sister's account). I think there is no ROI after doing all maths. Anyway I'm going to invest probably 1000 steem in few weeks.
Yes the scenario changed. It is not as profitable it used to be and earning steem ha also become hard work