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RE: MY FIRST MINNOWBOOSTER PAYOUT AND BREAKDOWN
This is hilarious. Can you explain how this thing works? I am new and a little confused.
This is hilarious. Can you explain how this thing works? I am new and a little confused.
Minnowbooster is a program referred to as a 'voting bot' that takes money (SBD) from people that want their posts to be more visible. It upvotes these posts with steempower delegated to it by people like @trevonjb. He gets paid from the bot for lending his steem power and the author benefits with a big upvote on his post. I hope that helps but it is confusing.
helpful to me. Thanks.
Thanks, that helped a lot!
So it's a lending platform?
Not exactly, but pretty much. You can lend (delegate steempower) to the voting bot and others that want to get their posts upvoted (bigger than they can provide with their own steempower) can pay for a larger upvote. If you pay 1 SBD you get a $2 (ish) upvote.
So I lend the minnowbot my steem and using an algorithm it goes out and up votes promising content, which then continues to get up voted because it was good content , increasing my steempower?
Pretty close. People pay minnowbooster for votes.
Minnowbooster uses steempower delegated to it. Minnowbooster divides up the money it got paid for votes and distributes it to the people who lent steem.
It doesn't just upvote promising content. It upvotes based on being paid. But... since you can get downvoted, you can't (or shouldn't) pay to upvote trash or you could just be throwing your money away.