The return of the @upme bid-bot
This is part of a series on how much delegators get from investing in bid-bots. See https://busy.org/@verodato/the-return-of-the-bid-bot for more information.
The @upme bid-bot was created at the end of August 2017. It has a very hight delegator concentration: the @freedom account has delegated 99.4% of the @upme total delegation received, as can be seen in the chart above.
This bid-bot's expenses are mostly done via “encrypted memo”. The refunds to users of the bid-bot are the second main type of transfer memo and account for 6.7% of the @upme expenses, as shown in the chart below.
When expenses are aggregated by their destination account, most of them, as was expected, go to the main delegating account, @freedom. We can see in the chart below that two relatively important destination accounts are exchanges: Bittrex and Binance.
Given that one delegator is so dominant, we estimate the @freedom rate of return on delegations to @upme as the rate of return of this bid-bot. The table below shows the dollar values of the estimated cash flow between @freedom and @upme. The annualized rate of return went from a high of 78% in January 2018 to a low of 24% in June 2018. The total interest payments to the delegator in this period was USD 509,701 and the monthly average delegation value was USD 2,043,312. So we find a 25% rate of return on investment for the 7 months period. This is equivalent to a nice 46% annualized rate of return on investment in the @upme bid-bot.
Interesting why he switched from Bittrex to Binance.
I could not register to Bittrex since they decline new registrations without invitations.
I remember that I was surprised that both bittrex and blocktrades froze their Steem wallets, similar to what poloniex did before them, but for much shorter periods of time.
I also oppose centralized exchanges, but Bitshares does not let me register from my PC, and unlike Byteball, I got no help in the case of Bitshares' case.
Having checked my Byteball wallet, it seems its (powered by Changelly) fees are 0.75%, which is more than what I pay to my bank when trading.
This is how bitshares greets me now when I try the online exchange:
It used to be a different screen, but they worked to change it.
I never saw anyone else complain about it, so I wonder why suggeelson refrains from Bitshares, since it is safer due to its decentralization and I read that it is also cheap.
My reasons for refraining from upme are its grump compliance - the 3.5 days deadline, which is unfair both to genuine curators and to better bidbots, and the "if you don't like it, don't use it" reply of its owner to a legitimate complaint by a bidder which I saw.
The 3.5 days deadline also makes it less profitable, due to the slower recycle of rewards.
At least he does not have a no refunds policy and its automatic refunds are quite good from what I saw, but I stopped following this bot.
I think that in order to reach the main (with no regards to tags) trending page, one should use all of the biggest bidbots, since others do and this created an arms race which forces everyone whom wants to reach trending to use all of the biggest bidbots.
I care about ROI and reputation, much less about exposure, since if someone follows me, my threads should appear on his feed, and when one searches for a specific tag which I recently posted under, my thread should be visible for him too.
I refuse to pay for grumpy compliance, but I do use grumpy compliance bots when it is appropriate, usually for immediate upvotes and much rarer on other occasions.
binance offers a better user experience, in my opinion. some weeks ago the demand for bid-bots was low so you could make money using them. since the byteball airdrop started this have changed.
I still make money using them, but I feel some decrease in my profitability.
I also outgrew beyond those in my list (I keep using them, but I need more bots, or at least that they will grow), edited some out of it and stopped to use them, added new ones to my arsenal and time will tell if I will stick with them.
I also stopped to use a 300k SP bidbot with decent deadlines and this makes it harder for me to make a full use of my liquidity.
At least I already got my 60 rep and the Byteball quantity that it entitled me to.
There is always a need for a higher reputation, not only due to surprises like this Byteball airdrop, but also to prevent other users from lowering my rep and to be able to deduct from others' reps.
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Thanks your graphical informative post.
Having all that power @freedom account has, you can basically set your own rules. 46% annual rate is pretty good.
Great analysis once again @verodato
that's a juice rate! thanks, @mindtrap!
You are most welcome my friend. Always enjoy your analysis
These analysis are real interesting. Just stumbled on your account now and reading through them all.
You are welcome, @guiltyparties!
Another great analysis, @verodato! What I like about this bot is that it does not have a minimum post age for voting.
Thanks, @zorank ! I didn't know about the minimum post age. Good to know!
You can check the minimum and maxium required post age for most of the popular voting bots on SteemBotTracker.com
Interesting analysis. Although not a bidbot, my MAP Rewarder fund makes similar returns, although the APR for an upvote continues to edge downwards at about 22%. Making more than this is possible in the bidbot model mainly because of negative ROIs possible at the end of each bidding cycle.
I am happy to see this news :) i am already using this bot and gave me most of the things
✅ @verodato, enjoy the vote!
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@verodato Will you fill-up my order if I put up one??
I will take a look at it and if I don't get interested certainly someone will.
I am looking for 7500 SP for about 30 STEEM per week. Is this rate good for you??
This post has received a 10.46 % upvote from @boomerang.