Get Rich or Steem Trying #2
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Following Up with Step Back here I come
In this series I am divulging exactly how my steempost's payouts have gone since my last G.R.o.S.T.. The plan is to increase my posts earnings by using bidbots to increase the payout. I found that I was not able to find straight forward information about this therefore I decided I would take it upon myself and post.
So I am No Expert.
I am just exploring this for myself but I am being open and honest and sharing my results about it because I feel there is still very little relevant information about this. I track my information and in and excel spreadsheet. I record how much I spend on bids the USD price of SBD when purchased so that a USD % profit can be calculated. An outlook of % profit, coin wise, will also be analysed.
Follow me if you will down my Steemit journey…. Who knows you may learn something useful. I will try and share the rewards I get with the community and my followers that helped me to earn those rewards. So go ahead and follow me, engage with me and my community; you might find it quite rewarding .
Since my last GRoST post
Get Rich or Steem Trying
So staring with the last GRoST post.I Invested (EXPENSE) 15 SBD @ $24.96 USD. The earnings (RETURN) was 12.33 SBD & 8.56 Steem (20.89 total) @ a Total $ 39.90 USD. I Gained 18 followers during the 7 day period of this post.
I will show 2 ROI. Coin ROI and USD ROI
Coin ROI
(Return - Expense) / Expense
(20.89 - 15) /15
5.89/15
39.27 % ROI
The return of 5.89 was earned from the investment of 15 coins. *Combined Steem and SBD for simplicity.
USD ROI
(Return - Expense) / Expense
(39.3 - 25) /25
14.3/25
57.2 % ROI
The return of $14.3 was earned from the invested 25 USD.
SMO
This is kicking off my SMO #UPFUNDME campaign and it was my most succesfull bidbot experiance. Let's discuss it in the comments below.
I Invested (EXPENSE) 38.5 SBD @ $76.12 USD. The earnings (RETURN) was 54.64 SBD & 21 Steem (75.63 total) @ a Total $ 193.70 USD. I Gained 14 followers during the 7 day period of this post.
Again, I will show 2 ROI. Coin ROI and USD ROI, but less detail. Ask if you clarificantion
Coin ROI
(Return - Expense) / Expense
(75.63 - 38.5) /38.5
103.72 % ROI
The return of 39.93 was earned from the investment of 38.5 coins. *Combined Steem and SBD for simplicity.
USD ROI
(Return - Expense) / Expense
(193.70 - 76.12) /76.12
117.6/76.1
154.47% ROI
The return of $117.60 was earned from the invested $76.12 USD.
Pretty Nice!!!
Proof of Brain
CONGRATULATIONS @egobiafra you also won the very first Proof of Brain, Make it rain. As a special gift I have decided to send you 2 SBI shares.
I am treating this Proof of Brain and the Future upvote me campaigns as controls to gauge how active my community actually is, without the purchase of votes. I see it as a sort of control for my little bidbot experiment. so these will have slightly different format. No ROI calculations.
I earned 0.175 SBD & 0.06 SP.
What Matters
I am up
Since my last post I have lots to be thankful for. I will make a list
-I am up +30 followers !!!!
-I earned almost 50 coins through posting !!!!
-I gave away some SBI shares
- I gave away some SBD in my first Proof of Brain Post.
I am had a pretty good couple of posts but I am still trying to establish what all the variables are in the equations. I had success with my SMO post because the price shot up and my expected earning went from 80 to 120 in 2 days right before my post was distributed.
I have decided to dedicate 25 SBD of my earnings towards my SMO initiative. So that means I am well on my way to having reached my goal of 80 SBD and I haven't hardly started just yet.
Thank you for your time and your support. I have rewarded my following Steemates with shares in Steem Basic Income just for liking and commenting; you could be next.
@egobiafra
@alexstacy
@cocoland
@fullcoverbetting
Please Follow..JPG)
For those interested in Steem Basic Income - Follow the Link
SBI
We series that documents my rewards and account progression through vote buying.
Keep in Touch and support by UPVOTING my various initiatives. My Get Rich or Steem Trying series and my other Proof of Brain, Make it Rain! and/or my #UPFUNDME for my Smart Media Organisation.
It's sad that this is even possible.
I'm sure your intentions are all fantastic but paying for votes mainly helps the big accounts that sell them rather than the person that pays for them.
And rather than being rewarded for producing great content, you're simply being rewarded for creating a post with some text in it. You could be writing anything, hell you could just put a little comma in the post and the return will be virtually the same.
I don't like bid bots. I think they're doing more harm to Steemit than good. So if you're looking for a long term and stable wealth creation tool then this is highly unlikely to be it.
Thank you @gamernoob,
I really appreciate your engaging comment. I am going to rebut most of your points but please feel encouraged to keep the conversation going.
To your first point about helping large accounts.... Did you know there are pools where smalls voters band together and create bots. So small voters can get the same (proportional) gains as larger voters. And you also infer in the end that the transaction is not mutually beneficial.. or maybe more beneficial to one party than the other. Well to that I say you must provide some clarification.
You are claiming that by buying votes you are being rewarded for creating a post that could contain nothing of value. Here is my counterpoint, Yes you COULD create a post with no content; but by buying votes you are actually bringing more views (advertising) because people will be looking to curate authors with high rewards. With more views comes the opportunity to get more upvotes. But there is also the risk of people seeing the post and not agreeing with post reward and down voting. So to summarize, I feel there is a substantial amount of risk associated with buying bids and having to display those bids for at least 3 - 4 days. I've bought bids and lost value before so it is not as simple as it may appear.
I Respect your personal views regarding the buying of bids but I ask you to consider what the alternative is in the current ecosystem. People have voting power they are not always necessarily using so if they don't spend that SP and they have lost it. People are willing to pay for the unused votes. Do you want to regulate transactions to not allow such a thing?
Lets start a conversation about this cause it is top of mind for many people here one steem
You don't lose SP by not using it. Your voting power is just wasted. The Steem is still there.
Your post here for example, is what I would consider low value. It doesn't serve to educate, it just describes your profits through the use of bid bots and encourages others to use these services.
Many bid bots are owned by witnesses on the Steemit platform. So buying votes via these bots simply serves to increase the Witnesses position on the rankings. For example, @jerrybanfield owns one of the large bots. So everything he does serves to increase his strength as a witness. Every vote you buy places him in a stronger position. Witnesses are meant to be helping to grow the platform, not raping the platform for everything that they can, but @jerrybanfield is only here to serve himself. And does nothing to grow Steemit (he might say he promotes Steemit off the platform, but all he does is makes himself look like a nerdy timeshare salesman so is more of an embarrassment than anything).
If bid bots were either removed or heavily regulated then people would be simply curating each others work. And you wouldn't see people buying votes to low quality or even plagiarised content. Think about all the crap you see on Steemit. A lot of it would be gone if there were less people encouraged to buy votes for their shitty content.
Ouch, shots fired. Low value post. Gaaasp.
Just kidding. I will respond soon with more.
Edit. Here goes my long winded response.
"You don't lose SP by not using it. Your voting power is just wasted. The Steem is still there." I completly agree but I didn't word it all that well. But point being UNDERUTILIZED VOTES THAT HAVE NOT BEEN SPENT LOSE THEIR POTENTIAL TO EARN VALUE. By selling I would consider this a "salvage" item similar to when a hotel has a hotel room for rent. Yes they want $150 a night (fair market value) but if you catch them at the right time you could get the exact same room for a fraction of the value. This is salvage price. Unspent voting power is similar. Just want to point that out. I am a business guy; so finding fair comparisons helps me to keep things in perspective.
Your next point about my post not having any value is quite harsh. I will start by stating that I disagree. I find value in information that helps me make financial decisions and I feel like this blog is likely to help people decide if they will spend money on bid bots or not. I want to address your point about me encouraging the use of bid bots. I don't think I have done such a thing. Could you please point out where I did this because my intention was to try to stay neutral. You cannot categorize a positive or negative ROI as encouraging or discouraging.... I am collecting data and presenting factual information... at least that is what I though I was doing.
I agree completely that there is a conflict of interest when witnesses start to use their position and understanding to, as you put it, "rape the platform". This needs to be addressed. We are in agreement; but, the service is not the problem.
Now to your last point. This is what I see as the real meat and potatoes of our disagreement. You want to resolve the issues by imposing some sort of market controls to regulate people's behavior. I don't think that will solve the underlying issue though we might be able to strong arm people into complying with what you think they should be doing. The truth is of matter is that bid bots are actually generating profit. Money drives adoption, therefore bid bots helping to drive Steem's development forward. As people become aware of profit from bid bots the competition will increase and the profit margins will decrease with the increase of competition. This is how free markets work and trying to intervene and manipulate markets for a certain desired outcome, almost always, ends badly.
We need an engaged community that is not just here to profit. That is how we build this thing up. The idea of building this platform up by tearing certain people down, in my view, will not work. Bid bots are a part of the ecosystem and I think we should accept it and move forward. The best solution I see going forward would be rewarding those who downvote and not only those who upvote. That way there will be incentive to curate both good and bad content.
First of all thanks for the 2 SBI shares. Really appreciate it!
You are getting some decent upvotes from SBI. How many shares do you have? I know I can look it up, but google docs and sheets is blocked at work :(
I wonder what the results would have been, if you just would have converted the SBD and Steem to Steem Power. This probably would have increase your voting power, by which you would have earned more curation rewards!
The biggest problem I, personally, have with using bots, is that is does give a false feeling of appreciation. I do understand that it will also increase the number of followers, but I don't think that these followers are genuine! They will rarely interact with us!
Still great that you are giving some insight how the bots are or aren't working for you! Maybe you should also include the reputation increase in the next post! Cause that it where using bots really help!
Always great input Mr. fullcoverbetting. I will definately start tracking my reputation. Thanks for pointing that out.
About your personal, moral, delema with bid bots. Let me start by saying I am personally not that comfortable with it myself. But maybe if we analyse and discuss this topic more in depth, the community may start to become more comfortable and accepting.
I think bid buying is not a symptom of a problem with Steem but a problem with freemarket system itself. If there was no incentive to buy or sell votes no one would do it; but there is and it is not likely to go away so I figured the best thing, for me personally, was to get properly informed about the topic by putting my toes in the water.
The mudslinging about bid bots and bid selling (that goes on) is unfounded (IMO) and I will try to rebut the common points that I see spring up in the reply's on my post here. I see one comment from @gamernoob I will respond to when I get a little more time.
Thanks again for the great input.
I have 8 SBI shares FYI. I gave 2 SBI x 4 people
I do believe I have something about 24 SBI shares. Did sponsor 20 of those and got 4 ones sponsored!
It is true that the bidbods would ran out of business if there were no customers. But this will be an utopia! You could use the promote feature to give your post some attention, but this steem is burned. And why would you use it, if there is a possibility to invest to get attention and probably get 90% of the investment back!
But I do appreciate that you are openly writing about it, and try to calculate if you can make a profit with it or not! I also don't judge you for using them, I did use then once in a while!
It is always nice to have a respectful discussion, this is what the steem blockchain needs. More interaction between the users, only this could make the steem blockchain a real game changer!
Very helpful post and beautifully explained by you. Thank you 👍
Resteemed and Upvoted this valuable post.
This is a very good post
How can I start as you
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precious post
Terrible comment.
Keep going mullet! Cool update.
Thank you for your information, really helpful for a beginner!
Hi @mulletwang! I can see you've been doing great! :)
This is so timely! I've been looking at bidbots too. Thank you for this and thank you so much for the mention.
Please continue sharing your results, it would really help.