Bots: FACTS & FIGURES. (Part Three)

in testing •  8 months ago 

In this post the goal is to determine the facts and figures on the topic of How much of the Steem Power do the Bid Bots actually use from the total pool of Steem Power owned/staked by Steemians.

As well as look into the figures from various angles, without getting into any opinions.


Prior to continuing this post I must make the following notes:

This post is part of a series of posts and all posts in this series that have been published prior to this post are to be considered as a part of this post.

Including but not limited to all the notes, definitions, terms and conditions specified in Bots:
FACTS & FIGURES. (Part One) .
&
Bots: FACTS & FIGURES. (Part Two)

It is understood (& agreed upon you) that by reading this post you (the reader/viewer) have understood this and have read the prior publications within this series (A list of which shall be provided on each and every post within the series.) and that you understand and agree to the terms by which I am publishing these posts.


The first and foremost figure that I wish to put out there is the total amount of Steem Power that is tied up in the "Bid Bots".

Luckily, the maths has been done by one of our top20 witnesses, @themarkymark .

In his post: How much SP in tied up in Bid Bots?

He literally put a dot behind that topic, with all the exact facts and figures.

If you are not up for reading the post, here is the figure:


Image Source

Now what this figure represents is the total amount of Steem Power tied up in "Bid Bots" out of the total Steem Power out that is out there. (Note: This figure could vary a little as delegations to Bid Bots do change)


What does this mean?

It means that the total vested Steem that is tied up in Bod Bots and used for automated/semiautomated voting via Bid Bots is = to less than 12% of the total potential votes that can be cast by Steemians.


Moving on.

What dollar values are we talking about?

This can easily be determined on todays date, with the current values of our crypto being approximately:

Steem = $0.40 , SBD = $0.95

and by simply using a screenshot from the website I referred to in PART ONE of this series:

total value of votes per round.png

As you can see the total USD figure is at $455 per round.

What does that equal to daily?

Well, considering that there are approximately 9.6 rounds per day we can round that figure up to 10, just for the sake of making things easier to calculate and to understand, the total maximum dollar value of upvotes cast by bidbots on todays date would be under $4,550.


Please take note of the fact that 100% of the Steem or SBD going into the Bid Bots is LIQUID.

While when being paid out:

25% is in Steem Power (curation rewards)

37.5% is paid in Steem Power to the author.

and

37.5% is paid out in Liquid Funds to the author.

62.5% of the payouts are vested in Steem Power.

while only 37.5% is in liquid funds.


The second piece of information that many people ask is, What percentage of the total rewards are paid out via Bid Bots?

Once again, one of our fellow Steemians and a partner in a witness, but more importantly she is totally into statistics and numbers, and she has done all the maths.

Bidbot Income Analysis shows bid bots earned 19% of the Rewards Pool in 2018 by @paulag

She proves the following:

9,733,070,117 vests were sent as bids to bots for 2018

18.85% of vests paid out in author rewards for 2018 were sent to bidbots

25.95 % of Curation rewards were paid to bidbots

19.10% of Total Vest claimed in 2018 went to bidbots

So from what we can see out of this data is that during 2018 we can safely state that less than 20% of the rewards pool was used by Steemians who were purchasing votes via the Bid Bots.


I have to make sure that I state the following, so as not to confuse anyone out there:

These stats are exclusively for the bots that we refer to as "Bid Bots", which are all listed on:

https://steembottracker.com/

The above figures do not include any of the other upvote services (bots) out there or other "automated voting" services out there, such as Steem Auto, Auto Voter or any of the other bots run by various people and which also rely upon delegations of Steem Power.

As this series of posts is exclusively for the voting services that we call "Bid Bots", the information supplied shall not venture into any comparisons to the millions of votes cast by other automated bots/voting services out there.


As this series continues this post shall be referred to when necessary and likewise in doing so it shall be understood that all the information supplied by the posts referenced in this post are considered to be relevant and important.


Wishing everyone a wonderful day.

Hope that these FACTS and figures help clear up some of the smog being thrown about by those who claim their opinions to be "facts".

Yours truly

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As stated in my post, I don't know how many of those 500,000+ votes that are not cast by bidbots are actually cast by humans or by other automated upvote services (bots) such as the Steemvoter, Steemauto and various bots out there that are not bidbots, yet definitely by all the stats seen to date they definitely do make up for a good percentage of the 500,000+ votes cast daily.

Thanks for this little additional piece of information, just added a bunch of informational value to this post/thread.

Cheers.

I love how responsive you are @jackmiller

Cheers, Piotr

i dont like bots

Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

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I upvoted your contribution because to my mind your post is at least 5 SBD worth and should receive 254 votes. It's now up to the lovely Steemit community to make this come true.

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TrufflePig

Interesting choice of topic @jackmiller

Thank you for sharing your knowledge on this particular issue with us.

and that you understand and agree to the terms by which I am publishing these posts.

That sounded super official :)

I do agree with you, however it's hard to claim that all those who have little SP and cannot afford to be "a whale" are raping the reward pool. After all using voting bots is hardly ever profitable but it's still the only way regular people can compete with big players and push their publication to trending page.

Anyway the most important issue is the fact, that noone has any suggestion what could we do actually to make things "better". Removing bots is not an real option. So what really can be done?

ps.
Post by @themarkymark is quite old. Any idea how's numbers now?

Yours
Piotr

This post has been included in the latest edition of SOS Daily News - a digest of all you need to know about the State of Steem.