Upvote for Delegation bots everywhere?
Just looking at the trending posts there is hardly a day without a new upvote for delegation bot. 1000% upvotes? 1100% upvotes anyone. And people seem to like these and think they make a good deal.
Before I continue let me state clearly that I dont like these services. I dont think they add much to the steem ecosystem and the only good purpose seems to be getting above that stupid dust threshold.
But they are an economic reality and it does not matter if I like them.
But what really pisses me of is that there are people trying to scam others by promoting their 'amazing' bot that runs on a less than 100 lines of python code. And then they even invent a whole story around how they make these 'amazing' gains happen (example ?), when in reality they just try to get some free cash for themselves. This is nothing but ripping of people without the technical understanding.
Lets look at the math
The rate of voting power recharge allows ten maximum power votes a day. That means that a 100sp delegation can support one daily 1000sp upvote, or 1000%. So far so good and this is what most bots offer.
The part nobody tells you is that there is more money to be made! Steem also has rewards for curation and passive interest. The latter is simple, as a delegator you delegate not Steem but Vests and these are inflation neutral. In short as a delegator you automatically keep your interest income; your delegated vests are worth more sp over time.
The story is completely different for the curation rewards. These are automatically kept by the delegatee and not the delegator. If you only get a 1000% upvote you are missing out on those gains.
In total curation rewards make up 25% of the post payouts so they are not a small thing! And when you accept a 1000% upvote deal these silently go into the pocket of the bot operator. 25%!! That is as much as dtube takes and dtube is much more than 100 lines of code!
How much upvotes should you get? The 1000% upvote is only 75% of the value generated by your delegated sp. Simple math (multiplication by 4/3!) reveals that you should get 1333% upvotes to make your fair share!
If something should exist then create it!
Services that can be implemented in 100 lines of code should be free! But what does my complaining do? Nothing!
For that reason I have decided to take action and have developed a delegation for upvote bot that does not take any profit at all: @zero-profit.
This bot tracks delegations and put them into a database. Then it cycles through that list and gives out votes on the most recent post within 7 days corresponding to 1000% of the delegated vests.
If the bot cannot find a post in the past days it will try to sell the vote using @reversed-bidbot.
If that is not possible the slot will be skipped to the next delegator in line.
The bot will always power down to a minimum of 5sp. All liquid funds are distributed to the delegators once per week. This pays for the remaining 333%, fluctuating slightly depending on how lucky the bot is with the curation rewards.
No money will ever leave the bot in any other way than distributing to the delegators. I will not make any money from it.
How to use @zero-profit
This is extremely simple. Just delegate to @zero-profit. The bot will do everything else on its own. If you want to quit simply undelegate again. Thats all.
Why did you develop @zero-profit if you dont make a gain?
There are two reasons. First I like coding bots and learning blockchain development. This is a really simple project, I do it just for the fun
Second, upvote bots are a reality. They are not going away and I dont have the power to do that. But I have the power to protect some people from scam offers and when that is as easy as writing a few lines of code I am happy to do it. Consider the development of the bot as a gift to the community.