Good evening Dear Steemians, Do you use to use Bidding bots such as Booster, boomerang, buildawhale, appreciator...?
I used to too, however recently I noticed it wasn't worth using it, there was too many people Gamming the bots. I'm not saying gamming it is actually wrong, just that when too many people start doing it tends to become non profitable.
Buy how people games the bot ?
for understand that, you need to understand how does the bot work:
All those bots have a SP there fore their votes have a fix max value in $, which it's Split among all people who bids. at the same % That their bid represent in the total of bids:
Exemple: The bot have a vote worth of 100$, you send him 5$. I send him 15$ and nobody else send nothing more. In this scenario your bid represent 25% of the total of bids, and my bid represents 75% therefore you will recieve a 25$ vote and I'll receive a 75$ vote.
what people use to do to game it.
when the bot is about to vote they calculate how many have been bid and how much it represents in the total vote value as % and he bids in order to maximize his profit therefore reducing everyone else profits.
When just one person do that it is ok. Everyone still profiting, less but stills, problem is that is not possible to know how many people are trying to do the same thing, and it can end up happening that 2 or more huge bids happens at the last seconds making the bidding amount value over the bot's vote value wich means everyone will earn a vote lower than the bid they did.
But that's not the only reason I stopped bidding recently, Also with the recent amazing pump of SBD, IMO it worth way more to withdraw our SBD and change it to other crypto to protect the value we received, than use it in some biding bot and risking getting less of what you already have.
Also nobody knows how long will this amazing pump is still last imagine if you have like 20 SBD which now worth about 240$ and you bid, and for a lucky strike you manage to get a 30$ vote. you need to remind that 25% of the vote value will be spread amidst the curators of your post which means about 7.5$ so you'll actually only recive 22,5 $ which will be payed to you 50% as SBD and 50% as Steem Power. So by the end of the day you'll have only 11 SBD and about 6 steem.
Which means something about 140$ at the current prices.
One last thing to consider even if you manage to perfectly bid and make like your 20 SBD a vote of 100 $, means you'll really get 75 $ reward, wich means about 37 SBD and 20 steem, but you'll only have it when the post pays out, what if when the posts pays out the SBD value is back to a low value such as 2 $ (which could still being considered overpriced since SBD was mean to worth 1$) by the end of the day you'll be changed your 240 $ in your hand now for a ~100 $ to be received in a week.
So considering all those things I believe it do not worth to use bidding votes while this pump is happening.
If you are a Bidding vote Owner Before start flagging me consider that this is just my opinion, nobody is obliged to follow it.
Let me know what you think about this subjects at the comments =)
Ps: Remember by just clicking in the resteem button you will be giving an amazingly support to great content authors to keep doing his good work. So do not hesitate to resteem or even making a post about a good content you have seen, share it with your Steemit brothers and sisters! ^^
Thank you for reading my post!
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