First Steem Budget + Investor Payments!

in budget •  10 months ago

Our first budget proposal earned 366 Steem today while investors made 62% APR during the first 36 hours since we started at https://steemit.com/budget/@jerrybanfield/introducing-steem-budget-proposals which is an amazing testimonial to our ability to work together!

Congratulations to https://steemit.com/budget/@steempunknet/steempunk-net-mmorpg-on-the-steem-blockchain-already-in-open-beta-testing-attracting-players-from-outside-steem by @steempunknet for being the first project to receive funding!

We funded this project first because months of work have already produced the first functional MMORPG on the Steem blockchain and a functional website plus discord channel as explained at https://steemit.com/budget/@steempunknet/steempunk-net-mmorpg-on-the-steem-blockchain-already-in-open-beta-testing-attracting-players-from-outside-steem.

The first payment was sent for 366.896 Steem today while the rest of the 1,500 in Steem requested will be paid over the next week or two as more bids come into the jerrybanfield voting bot. Meanwhile, additional proposals at https://steemit.com/trending/budget will begin receiving payments this week.

To have the highest odds of success, will we submit proposals that either have already been started or that very clearly explain what will be done because this will ensure we get the highest return on our investment? I will submit a proposal within the next day or two as an example.

Delegators Earning 62.58% APR!


Thank you very much to @freedom for delegating 97522.957 Steem power along with @drorion, @tomasgeorge, @jasonclay, @gmichelbkk, @dehenne, @joeparys, and @stimp1024! We are very grateful to already have 137,524 Steem power delegated because this greatly increases the amount of upvotes available and therefore the amount of funding for both projects and investors!

The payout was equal to 0.00257 Steem per Steem delegated meaning every 1,000 Steem Power delegated earned approximately 2.57 Steem in the first 36 hours! Dividing by 1.5 brings us to 24 hours and multiplying by 365.25 brings us to an expected return of about 62.58% yearly at initial day and a half's earnings rate meaning a year's worth of 1,000,000 Steem power delegated to jerrybanfield with no changes would produce about 625,795 Steem back to the delegator in 365.25 days.

Part of the reason these payouts are so high is because my Steem power is not counted in the total and because the SBD is currently buying 5 Steem. Ongoing returns will depend on the price of Steem, SBD, the amount of witness rewards, and amount of curation rewards adding up relative to total delegations.

How Does This Work?


We are now running a voting bot on the @jerrybanfield account where anyone can send SBD and soon Steem to place a request for an upvote. Every 2.4 hours @jerrybanfield places votes at a power relative to the size of the bid. Half of what is received goes to @budgets to pay budget proposals while the other half goes to @jerrybanfieldroi to pay the delegators empowering us to earn higher bids. Track the profitability of the bot and previous voting rounds/bids at https://s3.amazonaws.com/yabapmatt/bottracker/bottracker.html

To make a budget proposal, tag a post with budgets as the first tag. In the post, make a request for funding in STEEM included with a detailed explanation of what that funding is needed for, what has been so far, who is contributing, how the results may look, why this will add value to the Steem blockchain, and when the work will be done.

Earn as an investor by making a delegation of at least 500 Steem power to jerrybanfield. I recommend using the Vessel wallet by @jesta to manage delegations as shown in the tutorial here.

The easy way to make a delegation is to use a link from steemconnect which I am happy to make for any of us! If you would like to delegate and would appreciate just clicking a link and signing in with the active key to complete the transaction, would you please ask me to make a link for you in this post and include how much Steem power you want to delegate because then I will reply with an exact link to click?

Thank You!


We are very grateful for this opportunity to collaborate in funding projects that grow the Steem blockchain and hope you have a wonderful day!

Love,
Jerry Banfield

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What I fear the most about you is that you might start funding scam projects that will cause even more problems. You haven't responded to me yet about your scam video.

I will continue to hijack your comments section until you respond to the community about your scam video.

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only question will there be voting for what to choose, or jerry will just choose himself

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Today was the first day your comments came to my attention and I just made a response on the first one about the video at https://steemit.com/cryptocurrency/@jerrybanfield/best-alternative-to-usdt-steem-dollars-or-sbd.

The day after the video was posted @adept helped us clarify this which we collectively upvoted to $120 as seen at https://steemit.com/smt/@adept/vice-org-is-not-affiliated-with-vice-com-or-vice-media-according-to-penthouse-ceo.

I also posted a follow up video which clarifies this!

We all "make mistakes" together and success generally requires a willingness to make more mistakes than most.

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The idea that FB could create a coin has been on my mind since joining Steem. How long would it take them to do this? They are still quite entrepreneurial over there but they are publically traded and the generally investing public might see it as a major hit to profitability...potentially crashing the stock price. Even if Mark Zuckerberg sees the potential could he convince the shareholders? It looks to me like Steem has the advantage in this regard.

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The contributions from others consolidates the project's veracity

Anything for the community is a blessing.
We all need to bring our A game to put steem to the top.
Keep on steemit.

Hi Jerry,

Hen here from STEEMPUNK-NET.

Thanks for the funding! This is really awesome. We will thank you in more detail, I just wanted to say thank you now.
Unfortunately, since I am extremely busy this weekend, I can't write more.

Please continue the idea anyway. The idea is great and helps Steemit and STEEM.

Best regards
Hen

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Hen thank you very much for being one of the first delegators and for submitting the first successful budget proposal for STEEMPUNK-NET along with stopping by to say you saw the funding!

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Crowdfunding is evolving! Money making its way to the entrepreneur with as little friction as possible is changing the world. It is starting to look like traditional employment is a bubble. That is a scary statement and it makes be nervous to say that but it really looks that way. Finance has been experiencing this shift for a few years but the undeniable truth is that a very high percentage of old economy jobs exist only to facilitate a single wealth creating action. i.e. Middle men are not just macro parts of the economy like a broker but they also make up a large percentage of internal processes. Crowdfunding, blockchain and projects like this eliminates the need for most of this and makes the entrepreneur competitive with the big guys. This has been the trend since the internet started but ironically the trend will now threaten the firms that were seen as disruptors just a few years ago. i.e. FB, YouTube, Google, Instagram

The first day is always the awesome one but keeping up with a 62% APR is going to be impossible im curious where we will even out at any ideas?

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Probably we will see ups and downs over time based on the Steem and SBD prices along with the activity of upvoters and delegations! We actually might see greater than 62% on some days/weeks while on others it might be 10% to 30%. We hope that for earning passive income in a way that helps our community grow, these Steem budget proposals will be useful! Anyone is welcome to contribute to any project as well!

Good job bro

Hey dear Jerry The Holly Monk and well wisher of whole Steemit Community, I wish you all the best on the behalf of whole Steemit Community as you and your delegator of Sp and team involved in this project is contributing their efforts effortlessly for the shake of whole Community.
It's a great idea and you guys are awesome.
Love you all.

So great! Awesome job Jerry I'm happy this is taking off so quickly. Keep it up, you're doing STEEM a great service!

Hi @jerrybanfield, iam really happy and enthusiastic about that sponsorship! This is boosting our motivation and we will work even harder to make this MMORPG a fantastic experience for everyone in which you really are able to earn money while playing.
Thanks alot, this idea in general will help to push us all to new heights!
Once iam back from my little trip over the weekend I will make sure that a delegation will be set up!
Kind regards
Jan

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Thank you Jan we would be honored to have your delegation included! The third round of payments just went out today to delegators. The Steem power you have would have got about 40 Steem for a week or less!

Hi @jerrybanfield
I use 1 SBD to vote for this post https://busy.org/busy/@zmzngrg/pour-vivre-heureux-vivons-caches-version-bitcoin#comments.
On the steem bot tracker the vote value is 22.51$. You vote the post to 3.85$. Why?? Where's the rest of the money?

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Bot tracker calculates the SBD value, so since you got 1.77 (50% of 3.85) in SBD, which are worth 12 dollars each, the 22.51 value is reached.

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@icoinstant I'm sorry, but you're totally wrong. Bots pay in dollars not in SBD.

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I'm sorry too, but you are totally wrong! Everything on this site is Steem powered. Anything that you think is dollars is an estimation.

It just so happens that the main estimation, that SBD is equal to USD, is very very wrong right now.

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I would encourage you to read this article to confirm that I am totally right ;p

https://steemit.com/utopian-io/@yabapmatt/steem-bot-tracker-major-update-regarding-sbd-prices

Congratulations @jerrybanfield, this post is the eighth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 24 and the total pending payments to posts in these categories was $1427.94. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

@jerrybanfield what I like about this post is that I am going to have to re-read it a few times just to understand all this great info that you are imparting to us................

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haha. It took me 15 minutes to process this post. Now I am left with no energy to re-read it one more time. And I am sure even that won't do me any good as the post either requires 'to the core' knowledge of how steemit /steem/upvoting works or (maybe) I am dumb :D

Thank you very much for the first investment payment. When I want to delegate more using Steemconnect, do I have to make a new delegation or is there a way to edit the old one?

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Michel when we want to increase a delegation payment we can do a higher amount with a new link for the total amount!

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Thank you, I will try that.

Need to check out that MMORPG ;-)

Thanks for the update. Exciting news about the voting bot and delegation!

ok noted

how can we get invest in this platform without steem?

What? Oh! people have great ideas I have no doubt this will work for us all and we'll be able to make steemit know to the world. If I receive it I can make noise to the whole world from some where here in Kampala, Uganda and I hope even you in the States will have to hear because we shall be the leading and popular individuals in Africa to benefit much from steemit. Thank you @jerrybanfield

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You're welcome @mpalanyi thank you for noticing and commenting!

Good job jerrybanfield. Great project.

Congratulations @jerrybanfield!
Your post was mentioned in the hit parade in the following category:

  • Upvotes - Ranked 1 with 658 upvotes

congratulation buddy :)

Are you brother to the guy from freedom family. You look like.

Your post is incredible, Jarry!
Keep doing great work!!!

Delegated 50K
Jerry, you are doing right things. Please don't stop.

Hello Sir, kindly guide me how it works and then I'll implement it too..

Thanks & Regards,
@graphypro

As a @steempunknet player (go fight me, if you dare... ), I want to thank you. It's a wonderful game and hopefully, it will get even better as the group behind it have the time to improve on it.

Wow Thanks @jerybanfield this is great! Keep it up....

Congratulations on these impressive numbers, I sure wish you, and us all really, the very best in this endeavour! Thanks for sharing.

Namaste :)

I hope this could really help everyone and not only those already have high level or reputation.
Most steemians start as a redfish and not as whales.

Thanks for this projects.

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@kingxerxesdex yes hopefully this makes it much easier at a lower reputation to launch a project and get funding!

What an amazing effort. Surely the profit is worthwhile and more will come.

This is a method that dont work hard but work on what is important! So you are doing great job! I hope you'll do like this jobs good luck @jerrybanfield

This is a method that dont work hard but work on what is important! So you are doing great job! I hope you'll do like this jobs good luck @jerrybanfield

i didnt know that you were a member of steem

Great project jerry i will use it soon 😍

Hello @jerrybanfield, do you fund existing projects or it can be something new (like i have)? I have explained my Problem here, in our discussion at https://steemit.com/budget/@cryptomonitor/new-steem-windows-android-app-in-development-steem-budget-proposal-jerrybanfield#comments can you see what i can do to get funded? What i need to do? What to show (on which way) so i can start right away with my projects. Thanks

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Mark funding existing projects that would most benefit from more funding is ideal because these are easier to validate! Any new projects need to be very clearly explained including functionality, value, etc. because these explanations help us decide which to fund!

I love this back a project idea

Thanks for your post. It will help us.

I hope it will help for those who is beginner like me :)

I wanna hear more from you to learn more.. :-)

wot do you think about Eobot as a way to mine steemit for free?

Wow what a good news!! Happy to see this jerry 😊

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Thank you @bindu I appreciate your support especially because starting this project meant ending all of my automatic upvotes with @steemvoter!