Steemit - My Experience & Upvote Bots - What's Your ROI?
I've been on Steemit since the beginning of January 2018. Not a long time, but when I did join, my goal was to provide articles that interest me along with my batch script file for mining. Which I might add, has shown no interest whatsoever, so i guess, I'm the only one that thinks it's awesome!!! lol
Then a vlogger posted how to make $1000 a day on Steemit. What? How? Where? ahhhh, upvote bots. Then I thought, man I am gonna get loaded!!! So I began my research on how Steemit works before I put my hard earned money into this, or should I say, borrowed money. So what did I learn.
To retain your 100% voting power, you can only vote every 2.4 hours or 10 times a day. Anything more reduces the value of your vote. Therefore, clicking on that upvote button over and over, is just useless.
The amount of your vote value is calculated not how you would think. The author of the article usually takes 75% and curators take 25%. If your article had a value of $24. That is not USD. How it works typically on a 50/50 spread, you take that $24 multiply by .75 as you will lose 25% for curators right off the top. Then you divide that amount by 2. This would give you $18 divided by 2 = 9. So you now get 9 SBD and the other 9 gets divided by the price of STEEM at the time. So if STEEM is equal to $4.50. You would take your 9 divided by 4.50 = 2. In the end, from an article worth $24, you would get 9 SBD and 2 STEEM.
$24 ÷ .75 = $18 | $18 ÷ 2 = 9 | 9 ÷ $4.50 = 2
9 SBD and 2 STEEM from a value of $24No matter how much work you put into an article, odds are, it will go unnoticed. It can be frustrating, but that's how it's going to go. So many users are joining right now, that your article is going to just get shuffled in with the rest.
Armed with this info I thought, ok, even if no one pays any attention to my articles I can put out good ones and some daily fluff ones that I can use the upvote bots on. Wrong!!!! With so many new users joining in, it seems nobody decided to understand how Steem really works or how the bots work. Perhaps they just don't understand a -ROI, or perhaps they don't know about Steem Bot Tracker and are bidding blind. Regardless, This is my plan for using upvote bots and I hope everyone follows suit. I know they won't, but I can hope.
First things first. Every Steemit user should familiarize themselves with some of the excellent tools that are available to them. these are
There are numerous more, but for the most part, I look at these quite regularly. Now on to Steem Bot Tracker. This is an amazing site that shows the upvote bots by @yabapmatt, It looks like this.
Now if the Max. suggested bid goes below 0 you are now in a negative ROI and depending on timing, you are now losing money on your vote. Now some people may be ok with this, they just want the upvote value to showcase their article, but I'd like to think, we are all interested in making profit at this. Since the bots and the owners don't care how much extra money they are taking in, we have to do our due diligence to work together so we can all profit. What I have found the most is, people will bid on a bot with 1-2 minutes left. Now you have a few people waiting to last minute and bang... we all lose. If you click on the icon DETAILS it will bring up the bots info looking like this.
Now, I'm no genius, as a matter of fact, I can't even get a job in the trade industry right now, but, 1 SBD valuing 5.74 is more than what the bot is worth, let alone, what other bidders put in. A -94% ROI. It boggles my mind. Here is another one.
Even if you just posted your article. You are still losing money with this current ROI of -38.51%. I have yet to meet someone who likes to lose money. Giving to charity, yes, but not making an owner of a bot richer.
So this is what I propose everyone to do. Know how much your article is worth first and foremost by using the calculations above. Don't vote on a bot that is less than 5 minutes before it votes and if the ROI is at or less than 10%, let the people that already bid get their money and wait for the next one. This way, at least we all can profit. Let your greed subside and make it a win win for everyone.
P.S - Hope I didn't upset any bot owners and if I am wrong... Please for the love of God, tell me!
well detailed article but isn't this article sorta against upvote bots yet you used them?
I'm not against bots at all. In fact I wish I could use them more efficiently. But there is too much risk right now. That's why I wrote the article, to teach people how they really work. The last paragraph stated how I wish people would use them so we could all profit. Currently, most bots are going into high -ROI. so in that aspect, it is negative, but it doesn't have to be that way.
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