Is Bidding for Bot Profitable? Are you really earning?
There are many users out there especially those minnows that are trapped in using Bid for Bots to increase their upvotes. What they don't realized is that,they are taking the risk if they are really earning or they are loosing more SBD in all these bots.
Let me show you how Bid Bots works and how it was being calculated and decide for your self if you are really earning in these bots.
I happen to have 14SBD in my wallet that I will use to bid for bot, in this example, I will use the @upme bot to bid for my upvotes. I will use this post https://steemit.com/food/@mikel2la1/spicy-chicken-wings-woohh as an example for you. In this post , I currently have $4.34 amount out of 24upvotes.
I bid my precious 14SBD to @upme and waited for about an hour and a half to get the result of my upvotes (it will take 2 hours and 40 minutes per bid using @upme),since I bid within the time interval, I was able to join this bidding period.
After the bidding period, my 14SBD earns about 2.27% of upvotes which is about $29.21 of amount. Adding my previous upvotes plus the earning of my bots, I got a total of $33.54 in 25 upvotes all in all.
DID I EARN IN THIS BID?
Did I earn in this bid? This is how it will be calculate after 7 days of this post.
In this calculation, my SBD earning is totalled to 12.58, Did I earned in this Bid? The hell NO. remember that I used my 14SBD to bid this post and my take home is now only 12.58SBD. I loose by about 1.42SBD. i did not EARNED at all.
This is how Bid Bot is calculating their reward, in reality, they are only using 10% of their Upvotes to distribute to all bidders that's why they have about 2 hours and 40 minutes duration in every bid. This is a real time experience I did in Bid Bot.
I created this post to show everyone and decide for yourself now if it is really worth exchanging your precious SBD for a Bidbot. This is my real experience that happen today. I did not create this article to downgrade or say a bad story or words to bid bots, I'm doing this to show awareness and make people decide for themselves.
I hope I was able to share and educate to you all especially those newbies and minnows like me that BidBot is a risk and that there is no guarantee of earnings.
if you are interested in making use of these bid bots, steembottracker.com is an invaluable tool that you can't be without.
Sadly this is true. Glad you provided a detailed computation of earnings, in this case losing profit. I hope other minnows will get the idea.
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This is an eye opener.
yeah, thanks buddy, I just thought this must be shown to all especially to minnows to understand all this..
This is so informative, I'm following and have resteemed
Thanks, this post is to make awareness..
I calculated it also and i noticed that there is no profit in it. It can only increase the reputation.
@seyiodus.
yeah youre right, but it gives SP also, but if youre talking about SBD, it wont help you earn really.
Thanks for your sweet calculation. I have used bidbots only like three times and every time I felt screwed over in the end. No more bidbots for me.
Better to promote yourself in the community by replying, discord and other free ways! Way more profitable to me!