Tutorial: When not to use Upvote bots
Hello steemians, today I am gonna throw some light on upvote bots and when to avoid using them. This article will help you avoiding loss on bot usage to an extent. There are lot of upvote bots on steemit from bots like @minnowbooster which gives an Instant upvote and bots like @buildawhale which votes on bid rounds that happen in a scheduled interval.
The purpose of using bots is almost the same for most users, which is to help their posts get some attention and coverage so their content would reach their target audience and they could get more impressions. Upvote bots also serves the purpose of profitability for users as there are some bots which would give double or triple the value you send depending on the bot’s voting power.
Ok now let’s come to the point, when not to use upvote bots: When there is a crypto market correction/crash: Because the market crashes will lead to reduction in Steem’s value this thereby will affect your post payouts and rewards too. The earnings you got via upvotes will start declining and eventually as it comes to payout you will end up in loss. So I would suggest to not use upvote bots during market crashes, so you might ask "How the hell will my posts get attention then”? Well, If you are 100% sure that your post would do well and is of exceptional quality, spend an amount you can afford to lose.
But If you are a minnow It would be really difficult to get the initial votes apart from bot votes, In that case here is a quick hack you can try: How Minnowsupport can increase your reach on Steemit
And there is a little more, check the voting power of the bots before you use them. You can also track the bots those vote by bid rounds from Steem Bot Tracker where you will gets to see the previous round bids and the profitability percentage of each bot.
To do that click on details section of any bot.
Now you could see the last round and current round details and the possible ROI from the bot.
If the ROI is showing negative returns in last rounds avoid that specific bot, market crash or no market crash such bots will end you up in loss only.
From my experience so far the bot that gives the best ROI is @minnowbooster.
Follow me @shonyishere for more updates.
Just wondering why you have not used bots for any of your posts. :-)
I am using bots, check this post for instance, I avoid bots when steem value drops that's when bots lead as to loss due to reduction in payout amounts.
Some very good points in the post. Quite a few users of upvote bots may not know how to track when the bot starts upvoting.
Minnowbooster is a good bot but it has its own restrictions due to its heavy usage and high popularity, as shown on the values available on the website.
True that. heavy usage is a thing, as the population steemit gets bigger this would be problem.
Excellent article as usual, you are of course perfectly correct on all counts. I know mixed opinions exist on the bots, with many refusing to use them because they feel it goes against the whole theory of Steemit rewarding good content - because the bots only care for your money not the quality of work being upvoted. Personally I am happy to use the bots, it's my SBD to loose and boost on the post can get you greater visibility. But for many they can ill afford the risks, and if you can spare the time a vigorous campaign of commenting on others users blogs can bring you plenty of traffic to your own blog.
#thealliance
Of course, bots play an important role in Steemit success. I have tasted the pros and cons of bots, looking forward to learn more.