@BELLYRUB bot: Understand this FULLY before using this great service.
I sent in 9 bucks for a post and got back in return about 5 dollars. That equals a loss of 50% investment approximately. There are times when I have profited from @bellyrub.
WHY WOULD YOU EVER INCUR A LOSS WITH BELLYRUB?
I need minnows to understand this carefully. So I will explain it here.
- Bellyrub votes every 2.4 hours.
- That time is needed to rejuice it’s voting power back to 100%.
- Bids are accepted for each round until the bot gets to 100% voting power.
- The bot has a maximum total payout each round. This may change with Steem value.
- Current total payout seems to be about 25 bucks.
Okay so after this basic information understand how the bot determines your payout.
YOUR PAYOUT IS BASED ON THE PERCENTAGE OF YOUR BID AMONGST ALL THE EXISTING BIDS FOR THAT ROUND.
Understand this concept further.
Suppose you put in 5 bucks in.
Take total number of bids to be 10 for that round, including yours. Thus there are 9other bidders besides you. Suppose each bid is also 5 dollars ( to make this simple).
The bot now has 50 bucks.
But the maximum payout is 25 bucks.
The bot will divide these 10 bids equally because of equal bid amounts and each one will get back 2.5 dollars for 5 dollars spent.
Take another example.
This round there are only 3 bidders.
You bet 10 bucks
2 others bid 20 bucks each.
Bot receives 50 bucks.
From a percentage perspective your bid is at 20%. 2 others are at 40% each.
Now you will get back 5 bucks on a 10 dollar investement. That is because 5 dollars is 20% of 25 dollars.
I hope you understand this fully. Never bid more than 25 dollars as you are past the max payout. Understand that there is no way to know what bids may come after you and drown your percentages. It is a tough game of luck. With bellyrub sometimes you win, sometimes you lose.
I have seen a lot of people complain about losing money with Bellyrub. I am certain there are many more who make good money on the service. We never hear from them. It is just a service with some math involved and the bidder must understand this as to have appropriate expectations.
There are programs with live bot tracking that give you max beneficial bid at any given time.
Here is a screenshot for one of them
You get to it via http://www.steembottracker.com/
The issue remains still of not knowing what bids may come after you bid. Nevertheless it is a fantastic site. People try to bid close to the round closing with the most profitable bid at the time.
I hope this helps you minnows to get the most out of your bot monies.
Good luck.
Be kind and upvote and resteem.
Nice info
Thanks
Fantastic post. I was unaware of steembottracker before this and the way you laid out how @bellyrub breaks down was elementary enough a 3 blunt stoner can get it. Well done.
Thanks for the spill.
upvoted followed resteemed.
Just my two STEEMS Worth.
By the way I forgot to mention I wrote a script in ColdFusion that monitors @randowhale and sends an SMS to your phone when he is 'Awake'.
I use Randowhale a good bit but I am not always where his chrome extension can work for me, but like a bad hip replacement my cell phone never leaves my side.
https://steemit.com/steemit/@libertyranger/attention-randowhale-upvote-service-users-now-you-can-get-sms-text-messages-when-randowhale-is-awake just in case you are curious.
Great info and thanks for letting me know.
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This post has received a 0.63 % upvote from @drotto thanks to: @banjo.
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