Yes absolutely. I should add this to the SteemThat.com website also so thank you for asking. Almost all of the upvote bots on steemit operate the same way so this can help when bidding on other bots also..
Currently @steemthat opens a window for upvotes every 1.25 hours roughly. So During that window of time several people might send in a bid for an upvote. If everyone sends in the same amount then my upvote gets divided evenly across all of those bidding for my upvotes. So it is kind of like an auction in a way. SteemThat doesn't turn anyone down unless they do not meet the minimum acceptable bid amount of 0.010 sbd. So If 10 people bid the exact same amount then 10 people would get 10% of my upvote percentage. If someone sends lets say 0.020 and there are 10 people in the window that person gets a little more for their added bid amount. It is a complicated formula and each upvote bot can set their own algorithm but for the most part this is how it works. The good news is that I am small and you usually get a great upvote. Keep in mind that as I grow I'll just keep adding more steem power and my upvotes will get better.
My goal is to get to $5 upvotes for people for $1 bid. Depending on the server costs to deploy the code at that time I might not be able to keep it that low but I sure hope that I can to help new folks get paid for their high quality content. I simply want to help people. Thank you again for using @steemthat
Awesome, thanks for the detailed explanation. I didn't know you were operating in terms of bids. I thought it was simply "send an amount, get 5x that in an upvote, but numbers are very small at the moment". Appreciate the clarification.
Is there a site that shows the current bids and timer until next vote? Or should we be watching @steemthat's wallet transfers?
Out of all of the bots I think @treeplanter is the only one that has a guaranteed 3x return. It is tough to implement this kind of situation and help as many people as possible at the same time in my opinion. I have found that treeplanter is usually good on this upto about 0.150 and often only doubles. Keep in mind also and no one likes talking about this but I'm honest as you can tell already. 75% of the amount each posts earns goes to the Author. The other 25% goes to the curators...so roughly 7.50 per 10.00. Plus keep in mind that you can either select 100% steem power return or 50/50. For utilizing the upvote bot system you have to go with 50/50 to reinvest into your other posts. You should not publish more than 4 posts per day and use the upvote bot system. You will rarely ever do anything but break even but sometimes about 1 out of 4 if the content is hot enough you can keep a post trending a little longer and benefit from the added eyeballs and that makes it worth while. Plus you often pick up a few more followers etc.
This is going to sounds nut but you can try it with like @steemthat and @drotto because they are affordable to test with. I actually did better by finding other peoples posts early and writing a legit comment about the post and the sending an upvote bot than I did doing my own post upvoting. Crazy right! Sometimes though I didn't pick good posts to do it on I guess and didn't do so well. So how does that work exactly. I should write a few more articles tomorrow or the next day on www.SteemThat.com and explain it in full detail . both systems and how they work and what to do etc.
Thanks for the detailed explanation! Looking forward to learning more about how to maximise ROI on the bots for sure. Thanks for your efforts.
You're welcome :).
There is actually a tool by a guy who has several tools but he doesn't want anyone using them I don't think. If i come across the link again I'll try to share. I used to use the tool but I think he doesn't want anyone using it but himself even though it is published and live. It seems like he just wanted people to go look at it for bragging rights...So Who Knows. I'm working on building some tools just for this but also working on building @steemthat into a one stop upvote bot.
So basically you could just send say $5 sbd to @steemthat and the bot will talk to all other upvote bots in its program and spread the money to them and then they will all upvote when their window closes. Working on it now but might take a while. When and if I can do it @steemthat will save you and a lot of new folks some time. The funds I raise now will help make this all possible for sure. We shall see. I'm an old coding slow turtle for sure.