Some words about ocdbfund

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As some people have been wondering what is up with Hive account@ocdbfund I wanted to write more about it here to be more transparent with it. Here is the initial post about it's announcement if you want to read it, but not necessary if you're reading this post.

People have been asking me what the point of Hive account@ocdbfund is and if it's a good idea since it doesn't have any content and that is what the Hive account@ocdb "bid bot" was supposed to reward. Thing is that Steemians have this mentality where they see the price of Steem going down they stop using bid bots altogether, not sure if its due to the volatility of SBD as well but many fail to understand that as long as you use Steem to buy votes you still receive the profit that Hive account@ocdb guarantees, which is a bit over 10%.

As you can see from this first post of Hive account@ocdbfund that got its rewards recently, the bid was 35 steem and the return was 38.66:

Anyway, until Steem price starts stabilizing or going back up, I figured instead of leaving the bot idle we could put it to some good use. The delegators that have been delegating to it are after all looking for a return as well which they could've gotten from another bid bot who may or may not have given them a better return considering the promotional bid bots may not have a minimum ROI cut off and don't guarantee a return of 10%. While our delegators are still earning a nice return and rewarding quality authors that have been curated by Hive account@ocd in the past or proven themselves to generally write awesome content I thought that this Hive account@ocdbfund idea would be great to keep their ROI at the max.

The thing is though that the profit that comes out of the account should be put to good use, that was the whole idea with the post I linked at the top as well, I was asking the community for some solutions to what it can be used for. Although the suggestions were great there wasn't something vital that needed funding as soon as possible, but that's alright cause as the account and profit grows the price of steem may recover as well and the amount that can be used to fund something that the whole community needs will grow at the same time. This is after all made possible by everyone delegating to Hive account@ocdb so naturally it should go back to aiding Steem the currency and blockchain.

In the meantime though I've been looking at some numbers of Hive account@ocdbfund so I wanted to quickly address them as they're quite interesting. Now this isn't a charity from my side so at some point I will be transferring back the Steem I've invested in it so far (780 Steem), but the profit will stay there and accumulate over time. As of right now there have been 28 posts posted with bids from 10 to 40 steem at a time but only one post has paid out so far as shown above. This post was 100% powered up and the Steem Power was delegated to Hive account@ocdb which will start giving us a return when the payouts occur every 24 hours. What is interesting is that with most of the other posts that are 50/50 I will soon not have to invest more Steem into the account as it will be able to use the liquid Steem from the post rewards to fund itself all while each posts return an approximate 10% profit. Since part of the Steem Power that is delegate to Hive account@ocdb is part of the profits created by the votes from Hive account@ocdb it also means that 10% of the daily returns from Hive account@ocdb will also go towards the fund. Sounds complicated? Well it might just sound it in written terms, here is shortened part of the list:

The number represents the amount of posts, next we have bid for that post and total invested Steem that it has bid with. After that we see the return and from how many posts that is and how much of it was profit which will go to the fund. Since there's only one post that has been returned so far all of that SP has been delegated to Hive account@ocdb but it has not yet returned anything so far.

It is going to be exciting to see how this account grows and I hope the community keeps it in the back of their head in case something comes along that would require some extra funding and would help the whole platform. In these tough times you never know when you could use some savings so we at Hive account@ocd are hoping that this will be put to good use but over time hopefully we won't need to use Hive account@ocdbfund as much since authors will want to grow their stake using Hive account@ocdb themselves. But maybe we can sneak in a bid here and there with the profits as they will go to a good cause. :)

Thanks for reading, stay tuned as Hive account@ocd is currently restructuring curators and will be looking for some new ones shortly and we also have a lot of new things coming up!