iSTEEMd: Providing Transparency Between Bot Owners and Delegators
Finally, Somebody Has Done It!
I've always wished there were a way to track the ROI of all the upvote bots so that people can make an informed decision of which bot they want to support. And it's finally been done. iSTEEMd.com is a tool that not only shows you the ROI (return on investment) each bot pays their delegators, but it also provides you with information about payout percentages, anti-spam efforts, trust score, performance score, reputation, and more. It's your one-stop shop for learning about different upvote bots and allows you to get the best bang for your buck when choosing who to delegate to.
My first thought was that this was another tool created by @yabapmatt, but after reaching out to him I learned that this was created by someone else. Whoever it is, we commend your efforts @isteemd! I think we've needed this for a while.
How Does It Work?
If you go over to their website (http://isteemd.com/) you will see a list of different upvote bots. Keep in mind that not all bots are listed here. Some have chosen not to become listed for whatever reason. But for the bots that are listed, you will see several factors that help to rank them. And @isteemd even has their own proprietary algorithm to score each bot which factors in Delegation Amount Received, Daily Payouts Given to Delegators, Delegator Retention, Delegator Upgrade Rate, Bot Downtime, and Bot User Satisfaction. These factors are weighted differently depending on their importance.
The chart on the main page allows you to learn everything you would want to know about an upvote bot before making the decision to delegate your hard-earned Steem Power to them. It also holds bot owners much more accountable, which I'm all for.
Why Do We Need This?
As they mentioned in their introductory post, lack of trust might keep people from deciding to delegate to certain bot owners. Before, you really couldn't tell who was paying out what percent; you just had to trust their word.
Today, in the current scenario, a lot of trust issue prevails in the mind of delegators looking for a lucrative passive income by delegating their hard earned SP to the bid based voting bots of steemit. Many bots promise 100% earning distribution to their delegators, but there is no easy way for a delegator to check whether the bot really does payouts as promised. Moreover, it would take an ample amount of time even for a seasoned delegator to compare the payouts given by all the bots and then choose the best paying bot in order to maximize his returns.
This is a great point. I've noticed several bots who even have their upvote settings inaccurate on www.steembottracker.com. So what's to keep them from providing you with inaccurate information about payouts? Well, luckily now you can just go on over to http://isteemd.com to check the current payouts of each bot who has decided to become listed! Each time a payout is made, the numbers are updated for that bot so that you have accurate numbers to go by.
How Are They Compensated?
Here's the best part. Originally they had planned to take a very small percentage of the delegation to pay themselves for providing the service. But recently they picked up a HUGE sponsor (@thejohalfiles) so that they can provide the service completely free to everyone. I appreciate all they're doing for providing transparency on the blockchain and want to help support them in any way that I can. And that's exactly why I'm sharing this with you today!
If you're a delegator (or use upvote bots) then you might want to head over to their page at @isteemd and give them a thank you. :)
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I use this site to delegate to you already :) upvoted
Awesome, thanks for the support @marcuswahl and hope you enjoy the ROI :)
Jon Olson likes ya so I trust his opinion
Surprise!!! Your bot is one of the best ranked ones on the blockchain!!
And for very good reason.
Yeah man when I saw this I was super excited to see your bot ranked high. So good to know!!
Posted using Partiko iOS
I wasn't going to say anything, but yeah I try my best to make sure my bot pays out higher than anyone else. I've actually found that the bigger bots pay out less because they can't fill their rounds. Will be interesting to see how they adjust now that everything is out in the open. :)
it’s been a blast to be a part of so far man. looking forward to what the future brings!
Posted using Partiko iOS
I LOVE....being a delegator to you @brandonfrye! It's been fun growing with you...and I look forward to the future ahead! Thanks for your generosity...and the immense amount of information you have shared on this blockchain. We're in it for the long haul! FULL STEEM AHEAD!!! re steemed
I vote for you :)
Thank you for the vote, much appreciated! :)
This is awesome brandon! I have been on here for over 6months now and still am not sure how upvote bots and delegation works. lol although I haven't really asked anyone on discord or searched here on steemit yet. haha
They also have a page that explains delegation and how it works: http://isteemd.com/how-delegation-works/
This is good, because most people don't understand delegation. But basically you're letting somebody use your SP without actually giving it to them. And you can remove the delegated SP from a user at anytime.
okay so basically you can delegate SP to bid bots, who will upvote content for you, so you don't have to do it organically? is that right? kind of takes the fun out of up-voting peoples content. lol I truly enjoy it, I wish I had massive steem power to upvote people. mine is always running low because I upvote so much. LOL
Great questions. So one of the beautiful things about Steem(it) is the fact it's both a social media platform and investment opportunity. Both opportunities are required in order for Steem to be a success. So for those people who would rather delegate their SP instead of manually curate, they can and earn a very healthy & steady ROI. But if you're one of the people who would rather use your SP for manual voting then please do. Or, some people prefer to delegate some and use the rest for their own voting. Totally up to each person. :)
Very cool. Yeah I love how there is something for everyone. I just wasn't sure how the ROI was on delegating your SP to an upvote bot. When I get some more I will make sure to delegate some to the minnowfund. :) I think that is such a cool service that you are providing. And I think it would be a good experience for me to try delegating some.
I will need to check this out! I think this is great given the transparency needed in a decentralized community. It will drive SP delegation to where people support in their projects. If more tie their bots to promoting projects, more delegation will come in for support. Another reason why STEEM is great!
That's a good point, and something I mentioned to @isteemd. If we could have that play a factor in the scoring, then more people might delegate to bots who support initiatives/communities. So I hope they can get that added in somehow.
Right on! Another useful Steemit tool to bookmark.
There are quite a few bookmarks in my browser for Steem lol. And they keep adding up. :)
This is great as it continues with the tradition of transparency on the blockchain and Steem platforms! Look forward to seeing you grow here.
Thanks! Yeah, I'm all for transparency too. Especially when it comes to SP delegation. I know that I've received several more delegations to my upvote bot since this site was setup. So I'm very thankful.
Isteemd, one of the first things I discovered on my beginning journey here. Along with your content !
Grwat recap
Thank you @delso and @penguinpablo for the support :)