My investment plan is still same.
I'm not buying any crypto until it's under my baseline that I set a week ago.
The only thing I bought is STEEM with some SBD.
SBD price
I read some interesting comment about the SBD.
One person said that the reason it's gone up is because they are used a lot in voting bots.
Now I always believed that voting bots would have a bad ROI.
But I did some calculation this morning on a post and I might have been wrong.
One person that is currently trending spend around 200 SBD on bots. (because this blockchain is so open you can see everything).
His pending payout is 200 SBD + 45 SP.
That's not a bad deal.
Of course for this to work STEEM price will need to be stable or go higher in the next 7 days.
If STEEM goes down the person will lose out but still will have visibility for the post.
Of course wether this is a reason for the high SBD price is speculation.
But if it is, I think it puts an extra positive side effect on bots for now.
I talk about it more in my vlog.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
▶️ DTube
▶️ IPFS
I fully agree with you that it's hard to re-distribute power towards smaller accounts if those are not powering up all they have. According to your own wallet, you're currently selling your SBD, too. I guess you're considering to re-invest back into Steem, which is what many others also do. Maybe you're not, who knows.
To judge people who power down is too easy, you always need to know what they're exactly doing afterwards. Steem users are very loyal, and even though not everybody is in a financial situation that enables them to power up 100% all the time, they may be able to do that in the future.
In the beginnings nobody ever dared to criticize people like heiditravels who used their Steem to travel the world and make this platform popular, so why judge people who use Steem as a currency now?
These were the biggest transfers out in 2017 (Source @paulag):
She added:
It's always important to look at the big picture.
Steem on! :-)
Hopefully we start to see more money coming in than out!
I am not an expert. but people like me who are new in this community learns a lot from people like you. And yes I totally agree with your opinion. People always need to know what they're exactly doing. judging people who use Steem is not very good idea though !
you are right, also Down vote and Flag without explaining also not good.
Maney good paid Posts are Due to Bot ( You pay money for Rich Vote)
or you write what Big Boss of Steemit Like ( You make a advertise of Steemit or Dtube)
OMG! Now I got my point thanks for sharing valuable facts @surfermarly you right well said it happens really at the beginning I'm also facing this. But can you guys help me out from that!
Funny, I never had much success with voting bots (as far as making a profit). It always worked to increase my visibility, but never in the area of coming out ahead.
I hadn't considered the possibility of the demand for SBD from the bid bots as being behind the current rise in SBD price. I suppose that depends whether users are buying SBD on the open market to fund bid bot purchases. While I have nothing against bid bots I don't think I would ever buy SBD to use with them.
Regarding the profitability issue, I always thought if I was near break-even on an SBD basis I was still profiting with the SP I received in addition. And since SP was what I really wanted that was a very good scheme. Not to mention the visibility, although that requires far larger vote buying than anything I ever engaged in.
Yes, I agree. It's speculation wether this is the case. But I do like to explore and find reasons why things are happening. Although finding the answer is not always as easy as I would like.
Never hurts to speculate and sometimes your initial ideas lead you down roads you wouldn't have normally explored. I believe the initial pump came from South Korea a couple months ago, but price has found a much higher floor than previously. It's a bit surprising considering the increased SBD production (I believe), which should serve to lower the value of SBDs.
Perhaps SBDs are becoming somewhat similar in crypto to the Yen in fiat (i.e safe haven). More speculation :)
It's a very interesting thing when you unleash a service like Steemit into the wild on the Internet. Now it's in the hands of various people that can create bots and other non regulated software. The banks would panic if they saw what we are doing over here. Over there with their outdated systems everything is overseen with super care. Here we are building something new. What is it? And how will they stop this? Will at least take a few years before they even start to take notice.
And this is just first generation of this kind of software! I was very amazed when I saw that you could actually generate value out of nothing. It was just a question when it would happen after we made money digital and not backed by gold anymore. The laziness from the banks of just printing new money finally caught up to them.
Of course people are using bots/sock puppet accounts it's just difficult to quantify would be interesting to drill into the blockchain and find out as a % how much sbd is being transferred to these type of accounts.
Hopefully steem can overcome this as spammy post's are as bad as advertising in my opinion wasting click space and revenue
Eventually we will build better systems that majority enjoy more. Since this community the users are invested with their Steem Power and with their VESTS shares. Which means that people will care more about how this platforms future will be. Since the service only has been online for around 2 years I find it impressive how great it runs. So exciting where it will be in 5 years down the line.
What's the best way to buy/sell SBD on the open market? I'm located in the US and I've been trying to get on Bittrex. For selling, would you just recommend doing so through the options availalbe on Steemit?
Your options are limited. Bittrex is a favorable option with many; but, as noted...doors closed to new accounts.
Many use Poloniex with mixed reviews. Blocktrades is popular with many; but, to buy BTC you have to first get a BTC Wallet, i.e. Coinbase.
OpenLedger is an option; but, until it has more consistent usage (down for maintenance for weeks) I can't recommend this one either.
Truthfully, and I could be wrong; but, you're pretty much locked in to Powering Up, Powering Down; or cashing out SBD for Steem.
I hope this helps.
Peace.
Thank you! It def helps! It also reaffirms what I’ve been reading on my own.
Just clarify, here you mean through the Steemit market or by burning it?
Yes, this is what I meant. If you convert the SBD into STEEM it remains at-the-ready as a buy and sell currency.
Peace.
Cheers!
When I calculated the bot investment, I found worst result than you stated above. I would invest on SBD instead of giving my SBDs to the bots. I believe investing on your own SP, will get the much better return in the future! Thanks for this very informative post you shared here. You are excellent guide as @clio said!
Yes, I agree with you. Investing in SP I consider the better long-term investment. And cool that you found my mom on here! She has become a true Steemian :)
Your Mom dear @Clio is like my teacher here! When I write something and if she likes it and responds, I feel great! :) Loves from Spain!
Hey man
I'm trying to power up, but also using SBDs to travel as well.
I did wonder the same about the bid-bots, but the SBDs they take are going to the pockets of a few (to pay the delegation lease etc).
I think that SBD are traded like the rest of the alts. and when the chartists/forums decide its time to buy, the price rockets as the rest do.
Of course, i hope SBDs remain here or rise, but at the back of my mind I still think $1 is coming at some point, and so if you can, buy that STEEM and power up!
Cheers!
I also hope they will stay high for a while. But in the end they are only worth 1 dollar worth of STEEM. Selling them for STEEM or something else (crypto or fiat) at these prices (or well anything above $1) seems to be the smart move.
I'm also keeping some but that's just for speculation. Maybe they will pump again for reason X :)
When you consider that the rewards on this platform is 10X already compared to other platforms it shows that there is lots and lots of earnings and growth potential. No other service gives you these amazing rewards just by posting helpful comments. And it's a fast system too. In the future maybe it will go down a bit to 3x as rewarding but that will still be way better than the other platforms that only chase followers and doesn't build trust and reputation. Because clearly the true value of Steemit is the trust and reputation built in system. :)
Over 90% of the volume is on one exchange from one country, if the price had anything to do with interest in using steemit then we would have already seen an explosion of Korean users utilizing the bid-bots, but we can see that this is clearly not the case and I think that it's just a convenient pump and dump tool for them because it's paired with the Korean Won, their fiat currency, and total SBD in circulation is very small.
I can’t imagine it falling , we would have no other way to get Steem than to buy it. I feel like we should switch our sbd to Steem while we have a chance now
No matter what the real reason is behind SBD pump, high SBD prices are keeping many authors and curators active on this great platform, making it more profitable... Let them pump SBD even harder and if possible, i would request @blockbrothers to come up with some kind of SBD voting bot...
i support your idea. upvoted
Thanks!
I don't think that will happen, man. We like to concentrate on other development instead. Steemify, Steemturbine ect. The SBD price is helping @blockbrothers paying for our 5 servers and external dev at the moment so that's another plus to the price.
I'd say leave the bid bots to people who aren't able to contribute in bigger ways. You keep doing your thing.
Same here. @blockbrothers have some fresh ish and I would also like to see what product yall able to deliver. I want to support too..
The real reason behind it is because it’s working. As long as something is profitable people will keep do it more. If it’s good or bad for the platforms who knows. Clearly it will benefit everyone that invested early so many doesn’t want it to stop. Since this industry will be extremely profitable the upcoming years we will see many interesting pumps happen.
Yep, I think the owners of bid bots are making more money on here than just about anyone.
But it may be a trap in the long run. Since it makes you lazy in other areas. The people that work hard I think will win out in the long run. Since building real connections always will be the best idea. Since the money comes from other users! How many times does it actually work out in the long run when you try to cheat a system or do something the easy way? In the long run it usually fails!
It seems reasonable to me that people are buying SBD on the market to use for bid bots. The bots are making a market in the SBD. I likely have seen the post you’re referring to. In this case they spent a lot of SBD to get this result. Other accounts I see investing smaller amounts such as 5-10 SBD aren’t getting the same RIO due to less visibility. So maybe there is a fine line between the investment amount, quality of post and ROI. I wrote an article today arguing that the trending tab is more of a promotion tab. It’s my argument that if you use bid bots, you shouldn’t be allowed to hit the trending page. You can check out the full article here:
https://steemit.com/steemit/@brettcalloway/steemit-s-trending-tab-is-misleading-the-community
Thanks for the post! All the best! :-)
Wohooo! I guess this person would be me! 😀
Thanks for looking into this more! You rock!
Oh and btw @exyle when I mentioned the possibility to use bots with SBD in my comment on your last post, I didn´t mean this as something minnows can do, but as I see it at the moment, it´s the only chance to get seen. This is a problem in a way. So if your are not one of the big fish and post about Steemit as your main topic (no blame here - you are one of the few people, who do this in a very innocent and authentic way, which I love!!), then it´s hard. Even when you got your niche (which in my case is spirituality, meditation etc), there are simply not enough people here yet in this niche with enough SP to make this a worthwhile stay. I think, what most of the big fish are "doing wrong" is to focus their interest on very self-referential stuff and upvote only things that have to do with Steemit, Steem or the platform itself!
I think, that this will be the main challenge, if the STEEM blockchain wants to grow - to broaden its spectrum of topics and don´t primary reward posts, that are about the platform itself.
It´s like in a new relationship - if the only thing you are talking about is your relationship, then it will soon be gone!
➡️Would like to hear your thoughts on that - maybe even in a new vlog. Consider myself as your personal idea contributor for new content. 😀Thank you!
please like and subscribe
Please stop begging and posting your unrelated links as a comment. People will flag you for this! Thank you!
I completely agree with you on your investment plan and at any opportunity we certainly need to buy the Steem. With regard to the use of bots, it reminds more of the casino, since you can invest in any amount and calculate how much to pay at the moment, but no one will give you a guarantee that your investments will make a profit, because the purchased increase can partially be disposed up to 7 days payments, and here the end result is only the bot itself, this is roulette, lucky or not! Thanks Mark
The bid bots have become very risky. More likely to lose than win from what I've seen.
what does he say @1:38? Especially when "SPwhat comes out"?
Sorry about that. It's a bit unclear. 'When SMT's come out'. More info here!
oh it's SMT... smart media tokens
@exyle,
I wish to write a strategy behind vote bots! I assure you it's not very profitable! Because, most of vote bots are cheating the customer by showing high ROIs, but when we do the right calculation the end result is just a loss. Personally I am using vote bots sometimes, but it depends on the time that I am using the bot!
As you said, if STEEM went up it made a nice profit and vice versa can be happened as well!
Great thing to discuss about this topic!
Cheers~
Correct. I observed this too and stopped usin the bots since whenever steem price goes down the loss is significant amount and for a low steem power account like mine it's quite a loss. But if it goes up then indeed it's a good deal. I used to upvote 6 days old posts to avoid the fluctuation but they have recently stopped voting old posts so it's kind of a gamble now.
:)
Great video. I also selling SBD into STEEM. It seems crypto market is going to be under pressure for some time. I predict huge bounce starting in April, but hope that I am wrong and everything will skyrocket early. Anyway STEEM is the place to be.
True! This industry is just getting started. The more people that get involved the more emotions and the more people will find out about it! Especially when people make huge gains they will tell all their friends. Still the media has a bit too much power in controlling how the market is doing from day to day. But their influence will eventually decrease as people are searching out alternative media platforms. Will be harder to control humans since we are becoming more empowered now with these super computers!
Reason why I think some people complain distribution to be unfair is because some people have to take it out! People who are allready in a position were they can hodl steem power are getting richer. This is at the end of the day trickle-down economics based system. It is also so that those with alot of power don't realy upvote too many diverse topics, just ones they are familiar with. That forced-delegation is only thing that helps dumpen this problem.
nice post
Vote bot is a double edge sword!
Few steemit users think that using bots for getting upvotes is a bad idea because even if they return the same amount of SBDs or even a little bit higher, they will be redeemed either to 100% SP or 50:50 scheme. For those I wanna say, to be successful here, you must focus on your SP, through bots, you get extra steem power as compared to if you convert your SBD's directly into SP. Though you cannot be cashed out in the short term, you'll surely end with good terms in the long run.
and yes it could be one of the reasons for SBDs value to go up. Good analysis @exyle.
Yes, I agree, long term nothing beats STEEM or SP.
Thanks :)
Steem is an engine by itself that need all of us to go forward.
I am constantly learning how to use steem and all applications connected to the blockchain.
Keep on steemin'
I have seen some posts lately regarding upvotes from bots and I think bots are great for minnows. I plan to test it out and see how it goes. Thanks for sharing :)
Im always powering up my SBD to SP, i want my vote to be at least 1$ so that i can start making a difference in some of the minnows posts
Me too :)
Hopefully we will both be big whales in the future and help future minnows :)
I used bots quite often before and usually you make your investment back but get slightly more visability. Helps you get to that hot page or maybe even trending. With autoupvoting bots out there and used so much I feel like the bots giving votes for sbd are quite alright for new or undervalued posts to be used on.
It is not so easy to leave all my SBD in the system by powering it all up because I am a full-time Steemian and I live from my earnings here. I try to keep as much here as possible but I also have to take out to pay my bills and I take out some to invest in other cryptos which have a great potential like EOS. So in the end only parts of my earnings end up being powered up into my account.
Thanks for the analysis!
With SBD at a price over $1 USD, it almost seems redundant -- why even have it exist when we could all just use Steem?
I'm an advocate of negative interest rates, that continue decrease until SBD reaches a dollar. Otherwise I think we should move towards only one platform currency.
Cheers,
@dcj
i really need to watch this ..look good
The simple rule is that if the market goes up you are a winner and vice versa. I do not know now almost all bot shows negative ROI. To me, All are concerned about steem power rather than SBD
The price of Steem and SBD is just changing dramatically. It's amazing though but you just have to have a strong mind to bear the fluctuating price of SBD
As long as you have in mind that Steem Dollar should be valued at 1 dollar then it will just be a party when it's above! The question is how high it can go in value before the whole system will collapse! If that is even possible! Now when people experiment with money anything could happen. These market prices are fun to watch since it could change 50% from day to day. For serious companies and investors that will be risky since they can't predict the future price!
also i don't think people are paying attention to the ROI on these voting bots, I was watching the other day and a person paid 5 SBD for a $.15 vote, ridiculous, I don't think some people understand how these bots work
Mhhhh, this is not an easy one,... if you already have doubts and together with the @blockbrothers you had a discussion of how it will be in the near future for the distribution of steem power, then it is indeed a very difficult question, but sure a very good one. At least we have to figure out a bit more about the SMT and the capabilities, the way to use them due to those points; How we let SBD and STEEM(power) grow.....
Investing and holding steem dollar is poor choice. Rise of bid bots have surged in recent weeks, SBD has become a rejuvenated internal currency within Steemit armed with increasing utility but still it is pegged currency witnesses are discussing to enforcing it to 1$.It is very risky to hold steem dollar now a days.
Very risky? Most people have earned the money on the platform already so it’s money that been generated on the platform. So they would be fine if it even went to $0 in value. It may even be worth it to gamble a little. But the witnesses will probably peg it to $1 so we could get some stability again. And it would reduce the amount of just in it for the money people we would have on this platform.
I think the SBD is used for bots because of limited visibility. There are 720,000 people on Steem right now that I will never ever see unless they use vote bots, or spend $100k to buy SP. On the other hand they will, in all likelihood, never see me for the same reason. Groetjes!
Excellent video friend well i think investing in voting bots is not a good idea and it is not much beneficial for end user's but it is extremely beneficial for the owner's of the voting bots, so we all need to try and earn a vote instead of buying it and i hope we see much better results, well i still think that sbd will come back down at some point and converting sbd to steem now will benefit us more long run, thanks for sharing your nice thoughts with us friend, Stay blessed.
Steem and SBD price will go up and up as Steemit getting more and more users to the platform this is the social network of the future
Will be very interesting to see how this Bot thing works out in the long run. Now when we are making money digital clearly there is no going back to not have Bots running. Because it will be impossible to detect if it’s a Bot or Human in this digital world. Perhaps you can try to confirm some accounts that it’s real physical humans but it would take too much man power to control all. Would needs lots of outside money to be able to pull that off.
The high price because the demand increase as people get massive value in return. That spread fast to other people. So much money floating around now that there is lots of emotions evolved. Very exciting to see how the upcoming years will be in this space.
The old is still true that fast returns usually doesn’t last and that the long term strategy will always work out the best. For me even if Steem Dollars goes down to 1 dollar again the platform still gives massive value in return. Because of the potential to network more and build real connections.
Thanks for sharing with us. Seeing whales keep calm thru the storm helps us all!
But I have to ask: How do you get the upvote from @DTube EVERYDAY? - Whats the secret man? lol make a video on that.
The boots seem to be fraudulent for me. because there are no equal conditions for other people. It's not correct !!😐
The reason is vote bots and other things like Steembay
200 SBD spend on bots ?
Just, wow! I know it's done,
but still, wow!
There's me happy collecting little bits
here and there, untill I have 1 SBD
:D
Happy Sunday all 🤗
I feel like I belong to different world, now that I have come here😏
I think yes but also the korean community and also that new exchanger helps the SBD price...
I like it and thanks for update wonderful stuff.
This nice about #SBD and coinmarketcap rating not balance.
All the best
steemit, sbd, curators etc all need the platform. If it's not profitable, no one will invest in it.
Time is money and so no one wants to waste valuable time on nonprofitable things.
Please, sbd should keep rising. Biko
I am not sure how much effect the bots have on steem price, certainly some.
What I do like is how bots can be used as an investment vehicle thru delegation of SP.
Good post, thank you!
really
Very good information about sbd price!❤
I believe vote bots are here to help minnows gain momentum in the platform by gaining sp through vote bots. If that's so, they are more satisfied with a minimal profit margin.
I am fully sure that the market will start to make a turn upwards due to the end of the chinese new year holiday. I have accumulate my assets in order to buy coins that are low. My method is to not make a huge jump of profit but microprofits from many coins. Im holding 33% bitcoin, 50% altcoins and 17% fiat wish to make my $1000 into as much as possible.
Sir your calculation is helpful and indeed if you said they are right to use than it should be, your work always do some massage which is worthy of me, at least the price going up and stable, keep sharing such stuff which valuable for the community, thanks and steem on
tnk you @exyle for this expository. SteemUp. I been praying that things turn around to make the value of steem rise although I don't fully understand the factors responsible nor even the concept. I believe faith works though.
I've seen Stemians who have reached a good reputation say they used bid bots to grow. I see others on their way up doing the same thing. Maybe some use the bid bots for profits, but in these cases I think it was a clear situation of using bots to get visibility, increase reputation and power up at the same time. I haven't used them yet and I'm still undecided whether I will in the future or just take the longer road.
As for SBD value, by its definition should be pegged to US dollar, but I've seen many agree that this mechanism is broken (plus the evidence is clear). This opens up the possibility of high volatility for SBD as well, which I think is exactly what pegging was trying to prevent. In this case, is SBD necessary going forward?