(UPDATE 19.01.2018) How to make profit on Steem / Grumpy Cat compliant :D

in steemit •  10 months ago

Hi Everybody, I am still new to Steem, though after a month I have seen so many kind of posts, people ripping off the reward pools, and others the bots. After seeing the post from @flozzz05 which was flagged by the Grumpy Cat I decided to improve his post to be GrumpyCat compliant.

If you don't know about Grumpy Cat check his original Post, it is worth the read and trust me that is the way we should go from now on. https://steemit.com/abuse/@grumpycat/non-gumpycompliant-vote-sellers-are-now-to-be-used-exclusively-to-profit-from-the-reward-pool

After this intro let's go to the cool part

1. Be sure to have SBD or even Steem (depends on the Bot if it accepts Steem) in your Steem account, if not go to any exchange that provides the pair and transfer those to your Steem account wallet. If you do not know what I am talking about then I do not know what are you doing here :D.

2. https://steembottracker.com/

Go to the website that provides you all the useful info on the voting bots. In the main page check all the useful info, I recommend to go to details before making the Bid, there you can see what is the ROI, or in plain english, how much you will get for your hard earned SBD.

Steem Bots.png

3. To be @GrumpyCat compliant and this is the most important use a Bot that is 3.5 Days or less Max Post Age, this is the most important part, otherwise you could lose your Bid and make your Post less profitable after being flagged by the Bot made by GrumpyCat, you may agree with him or not, but this is the way it is and instead of go crying in the corner better be compliant on that. Check the Image above to see the outlined column.

This is how it looks one of the few 3.5 days Bots, not bad if you see it has a 1000% on ROI.Steem Bots 2.png

4. After choosing your preferred Bot under "Make Bid" send your SBD and enjoy the profits**
If you really want to make a difference I suggest you to invest the profits into buying SteemPower, this will give you in the long term better chances to make a substantial and sustainable profit in Steem.

Steem Bots 3.png

UPDATE DISCLAIMER
After playing around with the bots for the last 48 hours some notes are need to be taken in the sake of taking care of your hard earned money (investment);

a. Do not take for granted the ROI stated in the API as the warning sign made by @yabapmatt the vote value is not guaranteed, since some of the bots are not updated on the second.
b. Look before bidding on the Details, many people do not even open this really important tool, which actually tells you what is the vote value and how many people are bidding and the values of those bids.
My personal recommendation is that you should not bid if 3 minutes before the vote bid round closes, the ROI is below 30%, chances are many people is waiting to vote same as you, and you could later check the "Last Round" tab and it will show you after closing the vote the effective ROI and vote value, let me show you below how does it work practically.

Let's look at the last Round from @allaz,

b1. Negative ROI

Negative ROI.jpg

As you can see above we see 3 key informations, the vote value is USD 85.28 AT 100%, nevertheless people was so thrilled on bidding that put a total bid for a value of USD 145.26, like almost double the voting power. This information is key before bidding, if the bid value is too close to the vote value, STAY AWAY AND WAIT FOR A BETTER CHANCE.
As you can see the ROI was -55% this means for each SBD you would get back, 0.45 SBD, or like the highlighted example, if the bid was 0.55 cents, you would get as a vote 0.32 cents.
The ugly true you do not get even those 32 cents, actually 25% goes for curation, and from those 75% you get only half come as SBD the rest is Steem Power which you can not use as a currency, but rather goes as an investment to your reputation and voting power.

b2. Positive ROI

Positive ROI.jpg

Now the good one, same vote value, and same bot, BUT in this case the bid total value was way below the vote value, 15/83, this ratio at the end of the vote round gave those who bid a return of more than 300% after curation. So if you bet 0.54 USD you got a vote for 2.88 USD, which even after deducting the curation and passing it to SBD is about 1.1 SBD at now value is like USD 4.428 plus some nice Steem Power. Also look that all the bidders made a small bid, leaving space for last minute entries and at the same time making the bid profitable for everybody.

Be a good boy and share with the rest, even if you have enough to bid, better to make several votes than rather a big losing one.

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Personally I am quite disappointed that people are so hard trying to find ways only to reach profit on Steemit. Being greedy and selfish is a part of human nature for sure and I'm not specially upset about that, but I'm just disappointed.

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I agree with you that's why I was talking about also Grumpy cat, I dont think it was my post, but since yesterday bots are full with greedy people, and people is so greedy that they cant even see they are not even getting any ROI for every bid, so I agree with you.

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Ha, I'm thinking we are seeing this thing differently, but I'm glad you have a somewhat good thought behind this ;)

I do hope you will enjoy Steemit even outside of chasing profits.

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I know yours is more philosophical, but as you said in your post, part of becoming older after 30 is realizing you need to feed your family and will like to leave them something for later, not only material things but also moral values and a good character, being a role model. I have a 9 yo kid, I was 23 when I had it so I could tell you that I grew up together with him, I am not the same anymore and that's ok. Dont'worry for me life is much more than making money, thing is I love numbers and tech, and cryptos are the future. I keep reading quality material at night, but on paper :D

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Thank you for your post, it really helps me a lot! Please come and share your thoughts on my post here, i'm trying to involve the whole community: https://steemit.com/steemit/@sunnyali/steemit-community-support-is-vital-needed

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Thanks for your comment Sunny, I will

i was taught not to put too much on a small bot, see this guy's post. https://steemit.com/steemit/@mvrr007/how-to-get-maximum-rewards-from-bots-on-steemit

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thanks, still new so what do you mean to small bot? the steembot tracker said that the max profitable bid would be even higher than the one I did, actually my post was a test for me, never bought before from them :D

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small bots meaning small vote value, u notice some is $2 some are $100. but it really depends on the price of steem and price of sbds. I learnt a lot from trying a lot of bots, it is a gamble sometimes, tried many kinds of calculation too. From what others taught, looking at the ROI itself isn't enough. =)
Hope that link i sent you helps=)

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Thanks! It helped me indeed, thanks once I am more into it I will make a new post with the best tactics, even now considering that grumpy cat can screw all your calculations. Also do you know how can one make a bot? I think those bots are the ones making the real money.

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im not sure about making a bot, gotta ask those whales if you want to create a bid bot. or u can make a bot by delegating a certain amount of percentage for only a certain limit of sbds. Like only 0.1sbd, more than 0.1 will be considered donation. I seen some ppl do that

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part of my SP is already delegated by default so far I cant see who has it now, or how does it work, is so complex and at the same time interesting to see this system

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Hi Asian thanks a lot for your comment yesterday, now after reading some material I am quite sure that I f**ed up yesterday with that 20SBD payment to the bot. I dont do that not even with the full payment, much less after curation, I will update later this post to make awareness for everybody :D

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oh yes, if everyone know this rule it will be a win-win for all =)

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This post has received a 4.29 % upvote from @getboost thanks to: @santana33.

Ok now I'm starting to connect the dots. Thanks for this post @santana33! It's not 'easypeasy' at all. Is there a list of bots you shouldn't trust? Like I don't want to get in the flagging bussines of grumpy cat.