Steem Bot Tracker - Major Update Regarding SBD Prices!
I am happy to announce that I have just finished a major update to the Steem Bot Tracker Tool!
Broken SBD Peg Makes Things Complicated
As everyone reading this undoubtedly knows, the price of SBD has broken free of the expected peg to $1 USD and is now trading for around $12 on bittrex which is the largest SBD exchange by volume.
All the post reward values shown on steemit.com and other Steem frontends, as well as those previously shown on the Steem Bot Tracker use the assumption that 1 SBD = $1 USD. Since that is clearly not true anymore, the post reward values that are shown are confusing and misleading.
Additionally, some bots are now accepting STEEM in addition to SBDs, since STEEM has sort of switched places with SBD as far as the "stable" currency goes. All of this now makes it overly difficult to figure out how much of what currency to send to the bid bots and what your actual USD return could be.
Using USD Instead
In order to address this, the Steem Bot Tracker Website will now show all vote values and total bid values in USD using the latest price data for both STEEM and SBDs.
The Max Profitable Bid column will now show the max profitable bid available in SBDs and/or STEEM depending upon what currencies each bot accepts.
In the screenshot above you can see that while it is not profitable to send SBD bids to the @postpromoter bot it is still profitable to send STEEM. This is information that was not readily available on the site before.
Pick Your Currency
If you don't want to see the values in USD - don't worry! There is a new drop down list in the settings section that lets you choose what currency you would like to see.
You can choose to view values in USD (default), SBD, STEEM, and POST REWARDS (which is what we're going to call the now incorrect and misleading way post reward values are currently displayed on steemit.com and other front-end sites)
Details View Updates
The vote values shown in the details view for a particular bot have also been updated to show in USD or the chosen currency in the settings. The bid amounts now show the currency used for each bid and a new column has been added to show the USD value of each bid as well.
Vote Calculator Updates
The vote calculator now allows you to choose which currency you want to use for estimating vote values. It will now also show the USD value of the bid amount you entered based on the current conversion rate of the currency you chose, and will show the estimated vote values in USD too so you can easily compare them.
In the screenshot above you can see that a 1 SBD bid sent to @booster is worth $12.18 USD but the value of the expected upvote is only $10.78 - a clear loss. If instead you send 1 STEEM the upvote value remains the same but the USD value of the bid is now only $1.72 which is a huge gain!
More Accurate Information
As a result of these updates we feel that the tool now provides more clear and accurate information about the true value of votes and will enable even novice users to make smart bids and take advantage of the awesome opportunity presented by the increased price of SBDs!
Here are links to the relevant code commits:
Started working on currency conversions
Finished currency conversions update
Some final changes for currency update
Posted on Utopian.io - Rewarding Open Source Contributors
Thank you for the contribution. It has been approved. I actually love what you are doing, Good Luck :)
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same from me------have a nice day .
What is Utopian.io
plz add @yusifm
This post has received a 0.69 % upvote from @boomerang thanks to: @yusifm
@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read the @boomerang whitepaper.
You got a 1.93% upvote from @allaz courtesy of @yusifm!
You got a 0.63% upvote from @postpromoter courtesy of @yusifm!
Thanks for the updates. I'm sure you never thought you would have this issue to deal with. ;-)
Hello @yabapmatt ! I've got a short question for you.
Next to the bot it says for example:
Bid Dollar Value: $10.52
Total Vote Value: $20.75 = 1.80 SBD + 1.03 STEEM
After 25% Curation: $15.56 = 1.35 SBD + 0.77 STEEM
How do you come up with the numbers after the equal sign? Is this the actual payout? In this case after curation 1.35 SBD and 0.77 STEEM.
I thought the reward would be split 50/50: So you would get 7.78 SBD and 7.78 STEEM. And then the STEEM amount has to be divided by the actual Steem price which is about 1.75 right now.
Am I right or just really confused? 😜
Really good question, it is very confusing with SBD no longer being pegged to USD.
1.35 SBD + 0.77 STEEM is what the payout would be from that particular vote after curation. This is in fact a 50/50 split since 0.77 STEEM at the current price of $1.75 is equal to $1.35.
So the 50/50 split means you get half of the payout value in SBD (which steemit.com assumes to be equal to USD) and half the payout value in STEEM.
The $15.56 amount comes from multiplying 1.35 SBD by its current price in USD which is about $10.50 + 0.77 STEEM * its price which is 1.75. So:
1.35 * 10.50 + 0.77 * 1.75 roughly equals $15.56 (I rounded some of the values for simplicity)
Hope that is clear!
You got a 35.27% upvote from @postpromoter courtesy of @yabapmatt!
Great to see you added this feature! Just spoke about it in PALnet the other day. ;)
Have you looked into how the different bots differentiate between STEEM and SBD if they accept both? e.g. if there are two bids, one with 1 SBD and one with 1 STEEM, will they get 50% each? It would add even more to the difference. And imagine the bot using the built-in conversion rate. lol :)
Thanks @danielsaori! Currently all bots (whether using my postpromoter software or drotto) treat STEEM and SBD bids the same, so a 1 SBD bid will get the same vote as a 1 STEEM bid despite the large difference in their value.
This is something I am aware of and intend to change in the postpromoter voting bot software, however it's a somewhat involved change to display that correctly on the bot tracker website, especially because not all bots that accept STEEM use the postpromoter software so there's a lot of different situations to take into account.
What I can say is that the "max profitable bid" calculations shown in the table and in the vote calculator account for the fact that SBD and STEEM are treated equally so often the max profitable bid in SBD will show 0 when it will be a large amount for STEEM. Hopefully people will look at this and not send SBD to those bots.
Great job man, keeping up with the times and the need.
Thinks for the new update . This is most used tool 2018
Great work! I was thinking today about how this unhinged pricing impacts my profitability tracking and what adjustments I need to make. This takes care of the before bidding adjustments; now I just need to update my results tracker.
I was wondering how the economics changed. Thanks for the update.
Thank you! Bookmarked the bot & followed you. This post should be more common knowledge!