How to calculate profit from voting bots... Ultimate guide
Hello Vietnamese community!
Today I will show you a method to calculate your profit from bots easily. Please pay attention to every step to understand this calculations. At the end of the post I will give you an example and we will find the profit quickly.
Note: This calculation method is for 50/50 SBD/Steem Power rewards only.
Definitions
Before we start I want to mention about few definitions to make you understand this post better.
Voting bots: Programmed accounts to send upvotes to your posts when you send them money. You can find more information here.
SBD, Steem/Steem Power, USD: Currencies that I will talk about in this post. But if you want to learn about them and relation between them, click here.
Total reward: Total reward that you will get from the post. It's shown next to upvote symbol.
Profit: Revenue - Payments (We will calculate your profit with simply this definition).
Now we can make calculations step by step.
Step 1: Calculating author reward
Steemit gives 3/4 of total reward to author. So we will multiply total reward by 3/4.
Example: If your total reward is 10 dollars, your author reward will be 10 x 3/4 = 7.5 dollars
Step 2: Calculating SBD reward
Steemit pays half of author reward as SBD. So we will divide author reward into 2.
According to same example above: Your author reward is 7.5 dollars. Your SBD reward will be 7.5 / 2 = 3.75 SBD
Step 3: Calculating Steem Power reward
Steemit pays other half of author reward as USD, then changes it to Steem Power to make payment. So you should know current exchange rate for Steem/USD. We will divide "half" of author reward to current Steem/USD price.
According to same example above: Your author reward is 7.5 dollars. Half of it is 3.75 dollars. Current exchange rate was 3.033 for today. So Steem Power reward will be 3.75 / 3.033 = 1.236 Steem Power.
Note: We will use US dollar to calculate profit easily, so you don't need exchange rate!
Let's make an example with a variable (voting bot).
Example: You spent 6 SBD to voting bots. And they gave you 13 dollars total reward.
In this situation your author reward will be: 13 x 3/4 = 9.75 dollars
Your SBD reward will be: 9.75 / 2 = 4.875 SBD
Your USD reward (Steem Power) will be: 4.875 USD
Difference between your payment and your gain as SBD: 6 - 4.875 = 1.125 SBD
Your gain as USD was: 4.875 USD
Now we should use current exchange rate of SBD which is 2.23 now.
Your total loss was 1.125 SBD and your gain was 4.875 USD. But we will calculate profit as USD.
1.125 SBD x 2.23 USD/SBD = 2.508 USD (this one is value of 1.125 SBD as USD)
Profit: 4.875 - 2.508 = 2.367 USD
Now let's solve another example, but this time I won't explain anything so it will be faster.
You spent 20 SBD to voting bots. And they gave you 38 dollars total reward.
38 x 3/4 = 28.5 dollars
28.5 / 2 = 14.25 SBD
Total revenue: 14.25 SBD + 14.25 USD
Difference as SBD: 20 - 14.25 = 5.75 SBD
5.75 x 2.23 (current exchange rate) = 12.822 USD
Profit: 14.25 - 12.822 = 1.428 USD
Let's solve another example with much better profit.
You spent 30 SBD to voting bots. And they gave you 75 dollars total reward.
75 x 3/4 = 56.25 dollars
56.25 / 2 = 28.125 SBD (Revenue: 28.125 SBD + 28.125 USD)
Difference as SBD: 30 - 28.125 = 1.875 SBD
1.875 x 2.23 = 4.181 USD
Profit: 28.125 - 4.181 = 23.944 USD
I hope these examples will be helpful for you to understand profit calculations. If you any question, feel free to comment below.
the explain about bot voting is so good. thanks so much
Thank you, I also shared an excel file if you want to calculate with it.
Nice explanation, thanks for sharing.
For those not good with maths, I've done an Excel spreadsheet of the above formula:
https://www.dropbox.com/s/iavbkxsfybxckn3/bot-profit.xlsx?dl=1
I've recently created a community bot for the Vietnamese community (@teamvn), it is powered by SP delegation from the members who can afford it. We've agreed to have you on its list to receive upvotes as a sign of gratitude for all the work and help you've provided to the community and the quality articles you've written.
Thank you so much, last night I was thinking about making an Excel file with the formula. But you're faster than me :)
Thank you for it again.
The explanation is very clear. You are very knowledgeable about BOT
Thank you for your kind words :)
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