[ Bumper Service Change ] - Last changes on Bumper [ Maintenance Update ]
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But our trip last few week was not a 100% bump-less. We have hit some speed bumps along the way that has slowed our progress.
When we started Bumper the markers were standing at a all time high and this has helped us very greatly to make a start with our service. Within 2 weeks of the service we have increased the returns from 200% to 300% and kept it so far. But we have landed in a situation that we are unable to keep the high return of 300%. There are 4 mayor factors why.
First we have both STEEM and SBD price dropping down a lot to a low of 3 dollars 2 days ago. We also have the SBD and STEEM price getting very close to each other what smashes the service right in its face. Then our daily vote capacity is depending on the STEEM price. If STEEM drops in price our 100% upvote will also have a lower value. Because of this the amount of request we can clear a day will drop also. On top of that Blocktrades has increased the price for delegation while the price on the markets are dropping.
Those 4 things together are noose for the bumper service as we are just minnows our self's. Currently we receive around 25 SBD per month per 1000 Steempower from selling our upvote while we need to pay 33 SBD per month per 1000 Steempower. "Here you can see our problem" .
If we don't lower the returns bumper will be no more in 1.5 month !
It is just as simple as that.
Well first of its very important to understand that growth for our service is very important and currently we have no growth at all, because our delegations cost more then what we earn from it. Because of that we are not growing in steempower and we are stuck at the same position.
It is inevitable that we have to lower the returns back to what we had before. We have looked around to all the other services and most of then do a 200% return with a few doing 210% and bumper will also lower his returns to this amount.
Bumpers new return will be 200% + 10% to cover for curation loss.
So at the end of the row your bet will be doubled.
Will bumper be profitable ?
Yes you will still earn profit from using bumper only less then before.
If you send 0.5 to bumper and you get 1.1 upvote back halve of it will be in SBD what is 0.5 SBD. You already make even on the SBD part and the other part you get in steempower.
We basically will have the same return as most of the upvote services, but we will give you 10% extra to cover for your curation loss. But a huge return of 300% we can simply not do at this time.
Will the returns increase again in the future ?
yes but this will be depending on the steem price on the market.
210% will be or new standard meaning we will not do a return lower then this.
If the markets are in our favor again in the future we are able to increase the returns as we did before. But if we increase it this will be called Flexible. The minimums will stay @ 210% but if we can go higher we will.
What happens to those already in queue for an upvote ?
Nothing much; You will still get a return of 300%.
The payment was done before we made this decision so for
those already in the list will still receive our old returns.
We have cleaned the database and taken all requests of the people
aside that were already waiting. We created an extra spreadsheet
for those that still receiver 300% in return.
CLICK HERE TO SEE THAT LIST !
Something to note for the queue !
The coming few days we are still voting the old list before we start using the new database and requests. This means that you will see 2 links in the daily report the coming days. 1 link to the old database and 1 to the new database. To clear our confusion on queue position !
It just sucks when the price to pay for delegation goes up while
its less worth on the market, but not something we can do anything about.
We do however think it stays important to share so we will not stop doing the lottery. The lottery will continue to exists and weekly bumper will hand out some SBD prices and free upvotes. If the crypto world is recovering again in the future we can try to stand out again but for the mean time we need to be realistic.
The service will be closed for 1 hour from now !
This so we give people the time to read this post and be informed
about our new returns before sending new requests. The moment we open our pre-order list these will count for the new returns.
No problem, 2.1 times is fine too.
Because It should be Win-Win for both (voting buyer and seller)
I guess as you explained 300% was not profitable for you, So I feel that and I see 210% Is still fine.
But, I hope to not reduce the current rate
I Love your service
Thank you :)
@mino.gris Many thanks for the kind words
i am so happy with the support we receive from all you guys.
Bumper (was) making a profit out of it when SBD was much
higher then STEEM on the market incl with lower cost for delegation.
Thats also why we started to give back free votes and things like
the weekly lottery. Its important to share and i love to share.
We also were able to extend our delegation from 7k to 37k in around 2 months.
But unfortunately markets are there also to kick you in the nutzsack once a while;
We are losing 5 / 8 Steem power 1000 steempower power month
as all become much more expensive.
Dragging it back down to 210% wasn't an easy decision; Took me
a few to think about it even as i knew there were not much other options.
i rather wished we were whales already and had like 100k powered up so
we didn't had to worry about the rentals, then we would never have went
to a lower return.
I have received some ideas that i am going to look at the coming few days.
I will look if its possible to increase the return a slight bit but can not promise
it right away.
But dropping lower then 210% will NEVER happen.
Below this number you will start to lose and i will not support that.
I rather then stop the service completely or switch it into something else
then doing that you all have my word on that [@gyzimo]
It's unfortunate but understandable. Bumper was one of my favorite bots. Lets hope the market situation changes soon for the better.
service actually we do it all manually ^^
But yeah i hope so to buddy.
Changes like this are never fun to do
i also hope also it will recover soon.
I propose that you guys keep at 225% instead of 210%. How about that?
If people agree then either reply to this comment or upvote or both.
hey @kruspesh thanks for thinking with us.
I am indeed looking in to this possibility.
Also i am looking if it wouldnt be better
to switch to STEEM instead of SBD or do both
at the same time as you guys would have benefit
atm on using STEEM.
I need a few days to set all things on order again.
With the split queue we have atm its already confusing
for people to follow their vote and i am going down with the flu atm.
But you have been heard buddy ;)
I will update all the peeps soon on Discord.
Both STEEM & SBD would be great but, the problem is that then you will be directly competing against @upvotewhale as they do 210% & they even do it instant. So that's why 225% can give you an edge and additionally more profit to us.
Thanks for replying.
@krupesh i have been busy last few days but i did have
a quick look at the returns. I should be possible to do the 225 / 230%
as you and some others asked.
Its late atm so i will catch some sleep first
but in the morning ill look over it to make sure
there are no mistakes. if so we will announce it tomorrow.
I really appreciate the service you have been providing to the community. I hope that the prices stabilize in a fashion conducive to you continuing your services at 3x.
I understand what you mean and its not that we like to drop the returns.
Its either that or we we will not be able to pay the delegation needed to run the service.
The calculation above btw you gave you only conciser SBD as your income but Steem has a value
also and counts in the return. And if we are able to go higher again we will do this. We can only not do the impossible
I understand that I only consider the SBD... The SteemPower is a great benefit and actually at 1.1 I am making a profit if I take the steem power into account. My point is more that in order for me to utilize your service every week I need to be getting back the same amount of SBDs as I put in, else next week I will only be able to give you 0.412.
I understand you can only do as the markets will allow.
Yea with the steem price you have a slight profit.
But i am saying in the post also this ain't as much as before.
Note also that most services do x2, x2.1 also you can for example
see it very simple already on Steemit bot tracker.
We have always be very proud on the high return buddy
and its bummer but out of our hands. Its not just the market price
that is doing this but also the delegations become a lot more expensive
as they were before.
The first month we were able to to increase our SP with 30k and
now we are losing already on our income / outgoings.
The mayor thing between us and the bigger services with the same
returns is we are minnows and just own a couple of sp.
We dont have 100k our self's.
We can either go to a smaller profit and try to ride out
the low market price. Or we can close shop as we will not
be able to run the service.
I hoping the markets go up soon again so we can increase the returns.
But until then we are nailed to the ground.
you are absolutely right. these ups and downs can be anxious.
Yeah we lost already like 5.0 in upvote value @ 100% in 2 weeks.
It is indeed crazy at this moment. But that alone ain't a problem.
Blocktrades and Minnowbooster delegations both become much
more expensive and that all together with a low market it crap as hell.
We are minnows our self's and are depending on how much it
cost to run the service. If we were whale with more then 100k SP
already powered up then we had a complete different situation.
But unfortunate we are not there yet haha.
Thanks for this announcement, @bumper. I'm sorry that your service is suffering from the current cryptocurrency market conditions. You have been doing a great job trying to keep your service top-notch, and it is understandable that you need to make this adjustment. I still support your service because I am confident in the people behind Bumper.
To help you get the word out I've upvoted and resteemed this article as one of my daily post promotions for the @mitneb Curation Trail Project. It will be featured in the @mitneb Curation Trail Project Daily Report for 24 FEB 2018.
Cheers!
Your the best sweetheart :) @mitneb
Many thanks for your support !!
Awww, thanks, @bumper! I agree with @steemitqa. It does cost to run a service like this, and I'm willing to stand by you, and help keep you afloat until better times. I like the idea of getting STEEM, especially if it will help to stabilize your service. Nothing is more discouraging than finding a service closed to new submissions. I would like to have the ability to make a submission once every 20 hours because I post at different times of the day and night, so I miss more often now.
I know you are doing your best to make the best decisions for the future, though, so I understand if you can't do something like that.
Cheers!
hey @mitneb as usual thanks for the support :)
Yes it have been some very hectics days but i had
some time do to some calcs and i think we would be in
the clear if we raise it up to 225 / 230%. I have to look tomm
once more as i am tired atm haha.
But ill keep you guys updated.
Cool.
Services do cost to run folks. If you support a service through good times no reason not to do when its trying to stay afloat and earn a bit. Just keep that in mind :)
ha yeah true @steemitqa but currently the delegations cost
more then we earn from it. Main concern is that we have enough to
pay the delegations so when the markets go better again we are still there.
nice post..thanks for sharing...upvote & resteem done..thank you so much
Thanks for telling it like it is. Good luck to you.
@mineopoly honesty is very important
as most of this and crypto is all based upon trust.
And we will continue to be honest and transparent.
Thanks for the kind words :)
keep this bumper ahead, you guys are amazing and this is only a little slow down...thank you !