After HF19 a myriad of voting bots have been released. These bidbots provide financial benefit for those that invest in them and usually for the people that use them. There's a decent profit for the folks that make them, but it generally requires a fair amount of SP, follower count, and a moderate amount of technical skill to set them up. These end up being serious barriers to entry for Minnows to have their own profit making bitbot. This means that whales and people fortunate enough to learn some programming are benefitting from this, but your average minnow can't!
We don't think that's right!
@msp-bidbot
The Minnow Support Project has made a bidbot that's accessible for everyone. The account is called @msp-bidbot. Here's how it works. It's a standard bidbot script, but we have an addon script that sends money back to the people that delegate to the bot. it takes 5% daily profit of the bids and otherwise it sends the sbd it earns back to the people that invest through delegating to the bot. If you delegate 10% of the SP you'll get 10% of the SBD that's sent out.
Running your own bot is a better return, but if you can't run it or don't want to then here's a great way to take part in a collective bidbot. The bot has been seeded by a 5000 SP delegation from @aggroed.
How to use it
Just like every other Dr. Otto bidbot such as booster, discordia, lovejuice, and upgoater you simply send a transfer note with a minimum bid of 0.1 SBD with a post url you would like to upvote in the memo.
When does it payout?
Every day at midnight.
How do I delegate to it and earn rewards?
Click the link below to use SteemConnect, run by steemit.com. It will create a prompt for you to add your username and active key. Make sure to leave at least 50 SP in your wallet to make sure you can always interact with the blockchain.
to get your active key click on your wallet and then choose permissions.
Click this button
Then copy/paste the key that appears into SteemConnect.
You've just become an investor in a bidbot!
We're not just a bidbot though. We're a bidbot with a social mission. We're here to spread the values of Peace, Abundance, and Liberty. Grow the platform, and train and retain minnows on the platform. We think that creating this bidbot will create abundance and investment opportunities for small accounts, and the 5% gain to @minnowsupport is a great way to support the mission
if you ever want to undelegate click this
It takes a week, but you'll get your SP back.
If everybody can just make liquid rewards by delegating SP and purchasing upvotes from these bots, then where does the demand for our steem come from? It seems there's no point buying steem on the market now that we can all just buy it cheaper by buying an upvote.
If the rewards are not liquid and getting locked up in SP (as half the post rewards do) then those rewards aren't really going to be worth what they were when we got them by the time it gets to the market because the competition between vote selling bots and steem on the market will have driven the price so far down.
upvoted for visibility
The main reason for all this are self-upvotes, if you ask me. One of the bots (I think it's @treeplanter) disabled self-upvotes and investments into his bot lowered for around 80% :) Just so you can imagine the statistics
Yes well of course. Upvotes for others would be more like a tipping system and all tipping platforms fail.
Steem is up 5x from where I started. It seems to be doing ok.
There are advantages to using bidbots. There are advantages to hosting bid bots.
HF19 definately changed the curation/vote selling landscape. This is how the program functions now, and we're just making it accessible to everyone.
It would probably be up a lot more if it weren't for all the liquid rewards going to the same people getting the curation rewards. Steem is becoming more centralised instead of less. It's a scam to say that any content creator (who gets their rewards locked up) can profit from this unsustainable system.
That's a reflection of early distribution on the platform. That has to do with the fact that 93% of the steem exists in the hands of less than 0.1% of the people on the platform. It's been my chief complaint since the beginning. My current suggestion is to keep platform inflation at 10% and do that for several years to spread it out over more people.
Yes I know it was a chief complaint. But before these bid bots and vote selling bots and lease delegations came out (scamming people into believing the buyers make money from them) the distribution was spreading outward. Good hard work that added value to the network was getting rewarded so stake did not matter. The major stake holders were powering down and redistributing the wealth. They don't have to do that now. They can just keep riding it till the wheels fall off.
The main thing that will change distribution on the platform is inflation into new posts. That's currently going down a little bit every day because it's set in a hardfork. I think it should be 10% and remain there. I put that in a @minnowsupport post about changes to steemit within the last week to get at the root cause of one of your major concerns.
The second is vote buying. Again, I fought these rules. But they are here. Ironically not using vote buying right now on good posts encourages shit posters. So, if you think you make good content you should be using them otherwise the shitposters that use them will have less competition and more to gain.
One another paid bot? You just finally destroyed my belief in the fair distribution of rewards here.
Is there really not enough bots supporting shit posts? Soon there will not be place for humans. I noticed that after the appearance of large number of bots, people stopped giving their votes to other people, preferring paid bots and voting for their own posts and comments. The quality disappears, giving way to the prepaid gray mass. Are these the same values promoted by P. A. L?
That's already happening. It's a consequence of HF19 and linear rewards. i can't change that. What I can change is right now only whales benefit from this system. I'm making it so everyone can.
So lets join in and help sink the ship?
And aren't you a witness??? Who else is in a better position to change it???
@aggroed is one of 20 witnesses. It's not entirely up to him. He/I spent several hundred dollars trying to block HF19 from happening by calling it a clusterfuck.
The bad news is we have some programs like bidbots that can change how rewards are reflected. it's just a tool. If it's supporting shit posts that's bad. If it's supporting good content it's good.
The good news is that @utopian-io wouldn't exist without HF19 because it relies on linear rewards too, and that's arguably one of the best initiatives on the block right now.
If we're going to be in HF19 then the right thing to do is to help everyone benefit rather than just 8 whales. there's a discussion board on the steemitblog right now. If HF19 is changed then this will go away, but as long as it's HF19 it makes more sense to help everyone run a bid bot rather than just letting 8 or so whales do it.
MS, maybe this is gonna be a question a little bit out of your bot thing, but anyway...do you know, how can someone who makes a post, and gets a lot of upvotes including some bots, get paid from that post lower as it was shown the whole 7 days? Lets say someone's post got upvotes and is worth $15. On the 7th day, when payout is done, you see that it was worth $13 minus curration awards ($3), and you get $10 out. Now did those 2$ get legs on the 7th day or is that something that was written in HF19?
I'm not entirely sure. It might be changes in steem price at the time. your math may be off. I'm not sure.
That happened to me few times already.
I'm not sure utopian relies on linear, since it changed to vote based on what the community already votes... But I'm still learning and hopefully you can help educate me
Good motives, you are trying to help minnows, but something is wrong in this system. There must be another way to challenge the whales bots.
It seems to me that in order for Steemit to move forward and become better, it is necessary to stimulate the activity of users, motivate them to create quality, to vote for each other - to teach them to give, not just to take.
Sorry for the criticism, nothing personal, I just lost all optimism about the future of this platform
Well, you can always go to facebook and get rewards there...
Steem isn't perfect, but this place is growing over time, and since I've been here the value has risen 5x. WE'll figure out challenges as we go. For now bidbots are a thing. We'll see where it goes.
If use of the bot is limited to registered users and an anti-abuse policy is enforced, this can actually HELP reduce the level of shitposting. I think.
The only way to avoid abuse is manual voting based on how the manual voter enjoyed the post.
Or a curation team said voter entrusts with his vote. I don't know much about open source, but I support utopian by upvoting their posts, for example.
I'll study it. and i will contribute in it. thanks so much for this very social program.
Hey, this is awesome! I have just added it to the Steem Bot Tracker Site to help get the word out!
Can you please tell me what the minimum bid amount is, and max (if there is a max) and also if it allows voting on comments or only posts?
This is a really great initiative and I encourage everyone to delegate!
.1 sbd minimum. No maximum. I didn't disable comments.
Come delegate a bit :)
Great thanks, just delegated 1k SP :-)
Great project! Very good terms and clearly made to support minnows. I'm impressed and will consider sending some SP in your direction here. Keep up the fantastic work.
What's the minimum delegation amount? I will try to make it 50 SP not sure If I have enough.
I put 100 in there. I'll go add 50 as an option.
Thank you very much :D
and maybe 150sp and 200sp...
Did both...Delegated 50sp and Bid 0.1sbd for One of my posts. Gotta see how this turns out.
Although i have already delegated some sp to @msp and @minnowbooster. But minnowbooster has just disappointed me with their curation rewards. Hope this turns out to be quite useful than just regular "Money-Bots".
Thanks for @msp-bidbot . Keep Up the Great work.
I think this is a good initiative. If MSP has demonstrated anything its that it you guys have a great community for helping minnows, and you've made it a mission to improve the platform from the bottom up. You've got 1k SP from me :) Best of luck!
Dont receive my upvotes, send 6x 0.1 just get 1 upvote.
Plz send 0.5 back
you inform me another steemit option, excellent post.
50sp maybe later
did you calculate daily payout for 100sp? just approximation
Not yet, but it's more than you're making curating on your own.
well, I gave my 150sp to minnowbooster and I got only 0,02-0,05 daily. Some other bots are willing to pay around 0,13 for the same amount. that's why I'm asking. I'm not really ready to wait another week to get my sp back, just because too low payouts
When you will have numbers ready , you can send me message
Well, you're talking about different things. There are two parts to this. What's the profit on a bid. And what's the profit on SP that's delegated. Profit on a bid changes. I ahe the minimum bid at 0.1 SBD. That's a little high given the amount of steem power on it, but I expect that to change as people are already deleagting.
How much do you earn bidding? There's a calculation flaoting around somewhere. Maybe someone can find it and link it.
No no, I'm talking about delegation, not bidding. So for 1SP you get how much per day?
I'm sure there's a calculation for this somewhere. I make about 80sbd/week with lovejuice that has 15k SP on it. So, approximately $5/1000 SP/week, but that depends on a price of steem too. it'll be more if steem goes up.
The bot just paid out. You can check the delegation versus rewards and see how it breaks down for the first few votes.
It sounds very interesting, I want to test it but at the same time i'm reticent in puting out my keys out there.. it's safe?
SteemConnect is run by Steemit.com. You can check the wallet. @aggroed used steem connect to put 5,000 Sp on there.
post very good Steemit you for thank you
nice start good efforts .great initiative... Like it.
This is an AWESOME idea! I am certainly going to get involved with this very soon. I just delegated to another project a few days ago, so once I build my SP back up a little this will be my next delegation.
Great post I may try this out :)
That's a really interesting initiative and I am going to keep an eye on it. If you can create a bidbot that is beneficial to the community and profitable to those who don't invest time in curation - I think it would be pretty awesome.
Yep. Trying to make it so everyone can win in this system.
I am a minnow and I support this! :)
A couple of questions before I delegate a bit to try it out:
In any case, poke me on the discord if there's any way I can help out. <3
You can contact @aggroed in PAlnet, the Discord link is on the @minnowsupport wall.
Anti-abuse policy will grow over time, but this is msp, so we follow community standards that are public. no shit posts or hate speech or nsfw stuff.
It's going to change too quickly at first to say what it'll be the best is to check the steem bot tracker site that @yabapmatt posted in this comment section already.
yes..i also join soon...
Wow! Great post really very useful. I like it, thanks for sharing this post.
Hey I'm new to Steemit so I don't understand much about these technical jargons but I love to learn.
What I got from your posts is one has to delegate SBD to your bot to earn money, isn't?
If so would you please tell me if someone delegates 50SBD then how much a person can earn and is there a risk of loosing all? (the point which confuses: As you mentioned "if you delegate 10% of the SP you'll get 10% of the SBD that's sent out" then what's the benefit if you get back exactly what you send).
Just trying to understand how to make best out of it so please explain.
This post has been ranked within the top 10 most undervalued posts in the second half of Nov 24. We estimate that this post is undervalued by $55.15 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Nov 24 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
Congratulations @minnowsupport!
Your post was mentioned in the hit parade in the following category:
I have delegated 100 of my lonely SP's to the cause!
nice info thanks
I was just wondering if delegating to msp-bidbot came with the same benefits of delegating to one of the other msp bots? ie will I get a vote from msp-lovebot?
Hi @minnowsupport,
I transferred total of 0.06 + 0.15 = 0.21 SBD to @msp-bidbot to upvote to reward the funny author, however it only recognize 0.15 of the SBD that I send.
2 Transfer:
joshua-golbuu transfer 0.060 SBD to msp-bidbot https://steemit.com/punchline/@idikuci/advertising-gold-standard
joshua-golbuu transfer 0.151 SBD to msp-bidbot https://steemit.com/punchline/@idikuci/advertising-gold-standard
Can you please get msp-bot to total all my bid or please refund my 0.06 SBD, or Vote at 0.06 + 0.151 = 0.21 value.
Thank you!
I just joined in and am really excited about being part of this project. Thanks for doing this!
I didn't receive a vote for this bid.
35 minutes ago Transfer 0.100 SBD to msp-bidbot https://steemit.com/bernieblackfriday/@danpaulson/i-m-so-very-thankful-for-steem-bernieblackfriday
I have always wondered how the delegation works and how the bots work this article is great and really helped me understand. I just clicked the link for delegate 50 SP and signed up my question is down the road when or if I decided I want to stop delegation how do I remove it? @minnowsupport @msp-bidbot
How much will I receive daily if I delegate to you 50 sp ?
Wow...Awesome!