It's not a traditional bidbot by any means. People can bid for votes with PAL, yes, but there is zero profit in it for us. It actually acts as an economic sink because it burns PAL. If you delegate to it though, you'll start getting a share of the PAL sent to buy the votes.
Fair enough, well I'll just leave the delegation as is and not tell anyone about the day I found out I was delegating to a bot. As it's only 100 SP, it looks like I'm not delegating enough for a share anyway - conscience cleared!
All of the PAL that people spend to buy votes gets split based on who delegated what. The portion of tokens that would go to the native SP on minnowsupport gets burned. It's a no profit model bitbot, the only "profit" comes from burning stake, but the delegators can earn PAL for their delegation, which offsets what they could earn delegating to a profit-based bidbot.
Thank you for the quick answer but now I know even less.
What can one expect for 10K delegation? That would be much better answer for a non-technical guy like me.
Right now the bot has approx 116k SP. If you delegate 10k SP, you will receive 8.6% of all PALcoin it receives every day for upvotes. That amount will vary by the amount being sent, but it will always be split according to how much you have thrown in the hat so-to-speak.
I've delegated 100 SP to minnow support since the 5th September 2017 on the premise that I was helping out new guys - is it now a bidbot?! 🤦🏻♂️😂
It's not a traditional bidbot by any means. People can bid for votes with PAL, yes, but there is zero profit in it for us. It actually acts as an economic sink because it burns PAL. If you delegate to it though, you'll start getting a share of the PAL sent to buy the votes.
Fair enough, well I'll just leave the delegation as is and not tell anyone about the day I found out I was delegating to a bot. As it's only 100 SP, it looks like I'm not delegating enough for a share anyway - conscience cleared!
!ENGAGE 100
Here are your
ENGAGEtokens!To view or trade
ENGAGEgo to steem-engine.com.How much?
All of the PAL that people spend to buy votes gets split based on who delegated what. The portion of tokens that would go to the native SP on minnowsupport gets burned. It's a no profit model bitbot, the only "profit" comes from burning stake, but the delegators can earn PAL for their delegation, which offsets what they could earn delegating to a profit-based bidbot.
Thank you for the quick answer but now I know even less.
What can one expect for 10K delegation? That would be much better answer for a non-technical guy like me.
Right now the bot has approx 116k SP. If you delegate 10k SP, you will receive 8.6% of all PALcoin it receives every day for upvotes. That amount will vary by the amount being sent, but it will always be split according to how much you have thrown in the hat so-to-speak.
There isnt any way to know, it all depends on how much people send for bids. we might have a better idea of an average in a few weeks or a month maybe
I do have a small amount delegated to MSP, but probably not enough to actually do anything in this case.