I used vote bidding bots over the week.
My conclusion is simple: they won't make your money back.
Let's take my post for example:
https://steemit.com/bwphotocontest/@sulev/my-favorite-images-so-far-b-and-w-photo-contest-3
In 6 days I will receive 75% of the payout: 32,2SBD and 8,74SP.I payed 45 SBD to @upme to upvote my post. @upme gave me a vote worth 83$.
So what's going on here?
I'm pretty sure Steemit still counts 1SBD equal to 1$. If I subtract the SBD payout from the $ payout and divide it with the STEEM payout amount I'm left with about 3,7, which is precisely the average cost of STEEM for the past week.
Simply put: you pay 1SBD to a votingbot. It will upvote your post with a 2$ vote. Steemit will pay you 2$ worth of SP and SBD, while you original 1SBD was worth almost 4$ on the exchange.
This leads to a simple conclusion: as long as SBD is worth more than 1$, bidding bots will not make your money back, you will lose money instead. The whales are scamming you.
I was foolish enough to try these bots out before investigating the mechanisms behind it. Don't send your money to bots unless you are desperately looking to get on the trending page.
Stay safe!
Yes, I agree. I tried different bots over a couple of weeks and my conclusion ist that you do not gain significantly (sometimes you even lose), the only ones really profiting are the bot operators.
So, if you're only in for the money, I must disappoint you. However, they can be used to create a little more exposure by pushing your article up in the hot or trending sections. But this is another type of investment...which by the way could also be done by spending some money for promotion and then show up in the promoted section.
yes you are right. i used it for several time. for low invest @bumper is ok(0.1-0.5 sbd) with 300% after 3-4 days of sending sbd you will get voted but for higher level of invest you have to depend on other bot and there you may lose money. because most of the time people invest more than the bid value and hence the upvote worth is lower. @minnowbooster is a bod which will give you 270% vote at the time after 27 min of your post. otherwise it will give you 200% vote. by this bot you can increase your steem power but your profit is almost 0 but has a chance to loss of money. then it has two sides. if the price of sbd increase then you will get little profit and it it decrease then you will lose mone. max age of post is 3 days. I found this 2 bot is best. using other bot i can assure to loss of huge money.
Look at this article. :)
https://steemit.com/fun/@adsactly/adsactly-fun-the-value-of-the-potato-dollar
yes. It's how the system works and has worked for a long time. I didn't think about it while using those bidding bots :P
A very good post and useful to other steemit users. This is very important information. Thanks for sharing.
Thank you! I have tried these bots and realized that this occupation leads to losses.
Out of curiousity I tried something similar the other day, using @buildawhale . I can confirm your findings - its just doesn't make sense economically!
The only advantage I can see is to get your post higher up on the trending/hot pages, but the visibility there is also of questionable value.
yeah. I stupidly thought, oh boy, I'm gonna get 80SBD ;D dummy me
I would think the same. Luckily I didn't have money to invest into bots yet :-/. Thanks for the info and heads up. It wouldn't occur to me until payout probably.
exactly my thoughts but it worth only when we pay some high prices like 30-50 SPB
great info ! i used these bots last week and also found that their mathematics is not on our side and finally why do we think that its possible to give less and to get back more :-)
yes it is just for visibilities more likely. not not profiting economically. I used the bidbots before the price jump, but had stop after realising that we might end up losing our hard earn SBD. more over if there one person jumping in with bigger bid of the end of the biding windows.
thanks for sharing your experience
I agree with you, thank you for the information and concrete examples. I've seen posts, that only bots vote for. For some people, this is almost the only way to get votes for a post until they find their audience.
I've noticed this too. I've tried them for a couple of weeks. The initial impression is that you will earn a lot, but it's just an illusion...
I did test... and I saw... they not work :(
Unfortunately we learn from our mistakes. And someone just likes to hit the top.