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RE: Bid Bots Demystified and Reasons Why You Probably Shouldn’t Be Using Them
Does anyone know why bidbots have to charge at all ? I mean what kind of costs can there be to running a bidbot ?
Does anyone know why bidbots have to charge at all ? I mean what kind of costs can there be to running a bidbot ?
I read somewhere here there's administrative costs and hardware costs associated with it. At one point, it became unprofitable to run one due to the price fluctuations of SBD>
I'd be interested to know the real costs. These bid bots clear a lot of money ( transparency would clear up a lot of things ) I can't imagine their costs are that much. Maybe, your next post ?
I wish I knew :) I think the only ones who can answer this question are the bid bot owners. I think a good starting point is 5-10% of the bid amount goes to the bot owners. I got the figure from Minnowbooster's delegation deal where it has a facilitation fee (of around 5-10%).
So a big whale bot like Appreciator that has a vote value of around $500 SBD could be getting somewhere around 50 SBD per voting round. Again, this is purely speculative from what little I know about the bots themselves. Assuming everything is automated, 50 SBD every two hours is pretty damn good.