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RE: HonestBot Mission Statement
Ok then I'm sry. Seems like I fail to understand the Steem reward system. I thought only the estimated $ value would fluctuate over the time and not the actual SBD payout.
Thanks anyway for your response! Now I understand it: It makes only sense to send a bid shortly before the payout of a post.
The Steem payout is (relatively) fixed based on the votes you receive, but your SBD payout is tied to the value of Steem. With 50%/50% post rewards, you receive half in Steem Power and the other half is an SBD amount equivalent to the 50% value of Steem based on the assumption that SBD is worth 1 USD.
It is complicated, so your confusion is warranted.
And you're right. There is far less risk when you send a late bid. However, I know there are accounts out there that are keen on flagging people who use bid-bots last minute. I'm not sure why they do that... I don't see late-voting as abuse in any way.