In-depth review of @minnowbooster project – spread the knowledge!

in #steemit7 years ago (edited)

6 days ago I have published my basic review of @minnowbooster services. Just before releasing it, I decided that I need to investigate DEEPER. I questioned my own voting technique and whether I was not mystifying users. I then proceeded to research my own curating behaviour and started a 4-day-long data gathering of my curation rewards. The whole experience has taught me much… so much, that I will actually release an article with all the knowledge about curating I have assembled. But now, let’s jump straight into the research.

I think that it is important to spread the information as far as we could! I ask you to up vote and Resteem in order to reach all the users that we possibly could! 

Source


The previous result of old me – the summary

So as far as I’m concerned the amount of SP generated through curation reward grows linearly with the amount of SP the account has. The premise has stayed even for the in-depth research. I didn’t really care about the votes casted by me. The only factor I was taking in account was that I tried to vote for articles when they were older than 15 mins, not to give all my reward to the author. I had found some authors that I liked and was continually voting for them. This strategy has earned me 0,309 SP per day. 

The formula

I used following formula to get to know the real income I would have if I used their services.

[(A+B)/A]xC

A = Your SP, B = The delegated SP from @minnowbooster, C = Current Curation reward

I happened to have 400 spare Steem, so the calculation was done with them. If you want to get to know the whole proceeding check out the previous review, but the final formula looked like this

  • [(416,312 + 10 000)/416,312]X 2,163 = 54,119

That means that with my former voting behaviour I would be losing 45,881 Steem per week. After acquiring the result though I thought.

Am I doing something wrong?

Am I just smudging their services while I’m the one who sucks? 

Where did that get me? The advanced research

Which posts have I been curating on?

After the first research I have started seeking blogs that would a) have the quality I demand to cast my up vote and b) be rewarding me with highest possible curation reward. I had found accounts whose reward usually grow slowly, so I could vote on them before the majority did and I also have found some accounts that are part of a wealthy trail, whose votes I have been snipping. 


The plan of the research

I have dedicated basically 4 FULL DAYS to curation. By that I wanted to simulate 1/7 of the whole duration of the loan. I have given the articles from the 4th day day and half to let them gain the close-to-final reward.

I have invested about 90 Steem into SP in order to gain SLIDER! The first research was done without it and there was no way how to simulate the efficiency. If a person would invest only few Steem and would have less than 500 SP, there is no way he would profit from it. I invested in order to make the research relevant.

Counting with 20% regenerated each day, with a plan to use almost all of my voting power during the loan (because why would I keep any?). Math told me that I can spend up to 26% of my voting power per day. I actually failed to do that and have been using more than that. As we will soon learn though it did not hinder the credibility of the research 

Main goal

The main goal was to prove me WRONG! Really. I wanted to make profit out of their services too. If I realized at the end of the 4th day that I was terribly wrong and it is all worth it, I would be so happy! 

The new numbers

So after 4 days of intense, high-reward seeking voting I ended up with those numbers

  • Day 1-2: 1,17 SP
  • Day 2-3: 1,021 SP

That makes it 2,191 SP generated during those 4 FULL days of voting.

2,191 x 7 would make 15,337 SP for 4 WEEKS OF INTENSE CURATING. Not bad all things considered right? But… 

Back to the formula

Ok so here we go again!

  • [(A+B)/A]xC
  • [(505,223 + 10 000)/505,223]X 15,337= 318,905 

Final output

Bear in mind that the final output is only MY ESTIMATION of whether the loan is or is not profitable. I ENCOURAGE everyone to do their own research. Some of you may be better curators nad have different results. This research serves only one purpose – save time to those that wouldn’t have time to do one of their own.
  • For 400 Steem payed for @minnowbooster services I would gain total of 318,905 SP.
  • I have invested 4 FULL days of curating high-profit articles and it is still not worth it!
  • When I almost didn’t know how curating works, I was not able to make it profitable. Now when I know it and after investing half of the week into it, I would lose only slightly less Steem
  • I understand that it is still in a beta. I also understand that after the HF reward pool is only a fraction of what it used to be. The ratio was calculated back then and I think that after what has happened to the reward pool, ratio has to be increased.
  • I think that the ratio should be at least 1:150. That way I would be around 70 Steem + instead of -
  • Edit: As @hr1 suggested, I will make clear how much voting power I have used. The plan was to end up with 76% of voting power. If the outcome would be positive, I would try to take in account the loss I would have due to voting with lower voting power. I actually failed to follow the plan and ended up with about 65% of voting power after the 4th day and I still was in negative numbers, therefore further cutting the end number wasn’t necessary. The loss would just be bigger.

curation REP SP followers

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Hello Fingersik,
I am @digital-gypsy - nice to meet you !

Do you use @booster ?

I just started a discussion on "do we need more control or regulation on businesses on steemit" ?!
On the basis of my experience with @booster i would love to have a discussion on that topic and would be happy you give me your opinion about !

P.S. I don't need an upvote, but hope in a fruitfull discussion as I think that is an important topic
Take care Fingersik

Hello! I have read it and would just repeat what others said. Regulation in a decentralized community is not possible and not desired. Do not support services that dont meet your expectations + tell the provider and the community like I did right here with my post:)

This comment has received a 0.17 % upvote from @booster thanks to: @digital-gypsy.

You didn't mention how much voting power you have spent during those 4 days of the experiment... You should normalize for that

@hr1 - Thanks for the generous Upvote.
Nice to see some of the bigger players giving back to these guys producing great content.

Thanks for an informative article.

I thank you for the support:)

Very good idea

Thanks. I think its important to spread the information to all the minnows before they lose their Steem:).

Ugh only 57c on your post ??

Ah well at least have a decent vote from my Leased SP gets you up to $1.11 !!

This is what drives me crazy about this platform.

Such a good informative post how could it possibly be worth so little in value ??

I got the same for posting a UFC workout video that was a simple cut and paste.

Thanks for taking the time and effort.
Personally I think it should have been more rewarding for you. At least $50

Thanks I really appreciate it:) I have actually been losing my enthusiasm towards the site a bit. Not only I’m under the investment plan, but since the boom of people happened, the average level of intelligence seemed to drop and suddenly it’s not such a unique community. Hell a gal who spammed 1 post 11 times has earned more in one post than I did over 3 weeks. Also I think that it’s a lot about people not knowing how curation works. Hell I didn’t know it to 4 days ago. People don’t realize that voting on low value post is worth it...actually those that has voted before you on this post will probably make more curation reward from this post than most of the posts they have voted on:P...Also look at the ratio 11 votes : 45 views...Anyway Im the one who should be thanking you:)

Unfortunately the "Introduce yourself Girl" with a pretty face and nice Cleavage will always make the money. It's the same on Youtube, Twitch etc. That's just what it is.

I would advise you not get so disheartened as I think your formatting and writing is excellent.

I guess we won't make a ton of money especially as Steem is dropping. But i'm in for the long term and I think we will encounter many speed bumps along the way, however in the long run I hope that it pays off and we are high up the ladder of a great Social Media platform.

I have added a follow and I hope to see more of your talented work in future.

Remember: Winners never quit and quitters never win....

The problem is that I’m a student that refuses to be a wage-slave. I only have 3 years to do that before I finish my studies. Right now I’m investing about 70% of my time into Steemit and what I get is the 11:45 ratio which tells me either - We do not understand you, or we don’t want your content. I intend to continue for at least 2 additional month, give the site AT LEAST a half year. This is just my current feeling:) Otherwise youre of course right! I agree with your comment in general.

Those days are long gone for me.
4 Children with expensive tastes FORCE me to be a Wage slave !!

I have to make a Buck wherever I can these days no matter how insignificant.
My thinking is that even small amounts add up ;-)

If I’ll ever have children they will not have an opportunity to have an "expensive taste" no matter whether i will be a millionaire or a beggar (that is the plan:D). Again I agree that even the smallest amount adds up, at the same time though 70% is a LOT of time:P

@fingersik - There we go at least $50 I said !!
NOW it looks a bit more like it :-)
As I said earlier very well written and formatted. Well done.

Roll on $100 !!!

Hehe thanks:) Unfortunately this is not a community effort, rather my good friend took pity on me:P I’m grateful though none the less don’t take me wrong! It’s just, I don’t have 2 friends like that so somehow I don’t see the other 50 coming:D. Your support though warmed my heart I have to say:).

very interesting article. I was looking into using the Minnow booster, but it looks like I'd be better off investing the Steem or SBD back into my own SP rather than renting for a much more stable return in the long term, one that you can keep permanently.
Its a shame you haven't got a bigger payout on this though. Resteemed for you

Even if all I did was saving your money, than it was worth it:). I opt for the same strategy as you do. And thank you!

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by StormUK69 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.

@fingersick, heya your post cut off at the end.

haha long long time no one called me fingersiCk, even though my fingers are of course SICK!:D Anyway It didn’t. I removed the part that wasn’t objective, kept there only relevant data, expressed my recommendation and that was all I intended to say:)

great work trying to make sense of how to curate - i am a newbie and did alright with my lease

What does it actually mean that you did alright with your lease?

i made more than i spent- i spent 10 steem and had 650 steem for a week (actually still have them) made more than that back

What are the numbers? After brief check of your account you have made 0,22 SP per week for curating.

so is that all i made if my steem power increased during the week by a lot more --sorry maybe i lost money then

Try to check your un-payed curations via steemstats.com...Maybe you have made more, but you didnt get the pay yet. I only checked your account and there the income is so far deep under the investment.

not sure why but i get paid in author payments too for people i comment on and upvote -- that adds up to a lot more

No there you got paid only for the comments and your posts which are doing rather well. It is not possible to get paid there for your curation.

this is one - i got very little in curation for this one but got this amount for one comment 0.783 SBD, and 0.595 STEEM POWER for daydreams4rock/re-gavvet-a-stone-artifact-found-on-the-way-to-work-20170705t090134535z

@gavvet is wealthy and his up vote is worth a lot. Dont confuse those 2 things. Its got nothing to do with the loan

Ack! Can't upvote. Got to see this late. I was looking into renting SP myself but figured I needed to know more about curating first (and have more time at my hands). But I guess this just shows, I might need to find better avenues. Thanks for this. It's something that I need to think about.

If you want to learn more about curating read my new curation explanation+tutorial post...you can up vote there:) https://steemit.com/curation/@fingersik/tutorial-how-curation-works-steemit-noobs-edition-strategy-for-users-with-sp-0-1500

Thanks for the link. I will go check it out :)

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