Dear friends and community, today is 5th day since I join steemit and wanted to share my experience.
I join in dream of earning money, not a lot but kind of decent after looking at various post which earned big bucks.
First day not sure how it works, the initial thought was that I will create a post and people will like it (upvote) & comment so I will get some buck on that .. but is it true.
I dont think so, reality is different.. whenever you create a post at the same time every second there will be some one creating a post and posting it.. so your post get buried under a thousand of post in an hour.
Wondering then How people make money on Steemit as you already seen and dreamt of..
The answer is ** Money makes Money**, you take any post on steemit (excluding some which geneounly earn bucks without promoting)
you will see they use Upvote bot services to get a upvote on their posts.
Let me explain my example:
The day I joined I had reputation of "25" and as of today the 5th day I have "45", if I just posted and not had been used any upvote services it should be "25" today also and with showing "0" earing on my Post or Max "0.01" USD unless I am lucky and some kind whale upvoted me ( 1 in 1,000,000 chance).
I was continuously searching on steemit and trying to figure it out in between this time. I was looking its everyone post and checking their wallet transaction and every time I see money transfer to Upvote bot..
Next step, I was trying how profitable it is... see below example
Upvote Bot Upvote received (USD ) Money send to upvote bot ROI
Appreciator 45.24 30 150.80%
rocky1 28.68 20 143.35%
Buildawhale 22.09 15 147.27%
therising 14.96 10 149.60%
booster 12.51 10 125.10%
*Note- % can be change it is not fixed, depend upon various factos
I have not analysed alot upvote bot services but it is enough to get an idea how it works.
So you see 150% to 125% return on investement .. so seems very lucractive.
The research I have done till day 3.. it looks profitable .. ok then I invested (transfer) 5 SBD to appreciator bot and after some time (2 hrs ) I received upvote worth of appox. 8.20 USD on My post.
So if we see it looks like I have earned (will be earning) 3.20 USD in this transaction.. but then come next calculation about 75% to Author and 25% to curator reward system. see below
Upvote Bot Upvote received Sent to Bot ROI 75% Author 25% Curator
Appreciator 8.2 5 164.00% 6.15 2.05
gain.. as per above chart still in profit 1.15 USD .. yes indeed you are in profit. but to keep continue this cycle you need to invest money Money makes Money.
Let me explain this part.. for eg. you are going to received 6.15 USD but how you are going to receive that one is next part. Steemit earning (reward) is divided 50% in SBD & Steem & 50% Steem power. so if going to receive 6.15 Steem dollar equivalent reward then it will distribute 3.07 in SP & 3.07 in SBD & Steem. So SBD & STeem is kind of liquid that you can trade and reinvest again but the steempower you can not cashin or trade at instant to convert it into SBD and again invest in upvote bot. it takes time ( I have read somewhere 20 weeks & somewhere 2 yrs so not sure which one in correct for Powerdown period ) so it is your long term investment ( Kind of).
so now you have 3.07 SBD after 7 days (I am just saying SBD if you convert steem and just have SBD ).. so to continue this cycle again invest 1.93 SBD to make it 5 SBD .. and then reinvest the same in your next post.
This cycle continues ... and I still need to think how feasible is this.. your Steempower is your profit anyhow but to get yourself upvote value you need lot of SP :)
Still researching .. but not sure
Not using any upvote bot on this post :)
