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RE: Introducing a more balanced approach to bidding bots
Well majority of bot users are looking not for free publicity, but for max ROI. I have seen small powered bots with capped ROI sitting without any bids at all though their power was at 100%. This is also a loss for delegators. Eventually such bots may have less interest, because they will constitute one way profits, that is profits only for owner and delegators.
I am thinking of implementing an automated solution if the bot remains without bids, stuck at 100%, of just upvoting a random delagator post. At the moment, and I am not ashamed to admit it, if the bot is stuck at 100% with no bids, I just upvote a bot comment and so it becomes "unstuck". This is obviously not a long term solution, but it's better than the old uncapped version of giving a 1000% ROI vote.
It may be the fact that small bot market has reached a kind of saturation, we will see what happens when more and more bots cap their ROI.
Isn't upvoting a bot comment same waste of delegators money as offering vote rounds with high ROI? What if delegators are using Steemit only to gain profit by renting SP and not making any posts? Then they will also loose when idle bot will not have any post to upvote.
I've just checked 5 random bots with 0,01 SBD minimum vote. All of them were uncapped and did from 40 to 570% ROI in their last round. 90% of bidders will choose bots with possible ROI over bots with no ROI. How will this reflect to delegators profits?
I have concerns as @slimwhale delegator. This is not bold criticism :)
You are right to have concerns :)
Here are some directed responses:
Uncapping the ROI is not a good solution. The bot profits then(when I had uncapped ROI) were about 30% of what they are now. I hope this gives you an answer about how much a small uncapped bot makes. The delegators are much better off now. I don't have any solid data to back this up, but I believe @slimwhale is one of the most profitable small bots out there, mainly because of the cap
I would not care so much about giving high ROI votes, were it not for the fact that @slimwhale runs with leased SP. Let me explain this to you. At the moment, @sliwhale has 1,376 SP in total with 1,357 SP delegated. There are 4 delegators to @slimwhale: myself(316 SP), you with 20SP and two others, with 10 SP each. The rest of the SP, I have leased using minnowbooster and will expire in a few weeks. So I have paid to lease 1000 SP with my own steem, hence each time @slimwhale gave a very high percentage ROI, that steem was literally paid by me.
Which brings me to my last point, the self voting when the bot is idle(fortunately a rare occurrence). Yes, this is a temporary solution, I am trying to think of something better, like giving votes to delegators, which I am sure would be a very interesting value proposition. The problem is distributing those votes fairly between delegators. As I am currently responsible for delegating more than 95% of the bot SP, yeah, I am self voting, guilty as charged :)
Just as I expected. From all the bots @slimwhale is the only one sitting without any bids and wasting delegators SP.
I am thinking of cancelling delegation in next 24 hours, as this is not a way to profit.
Cancel away, explore other bots. If you do cancel and delegate to other bots, please report on Discord what are the earnings the "competition" is making, I am genuinely interested
I am thinking of upvoting my own comments, since my upvotes will be worth 0,004-0,005 $ x 20 comments. Just need to continue to be active Steemit member.