Smartsteem.com offers multiple services. One of those is our bid-bot:
@smartsteem - the currently 2nd biggest bid-bot with over 2 Million Steempower, where you are able to buy votes by bidding for a share of a 100% vote. The votes are then cast every 245 minutes.
Over the last few weeks, we've analyzed the landscape of similar services and realized that there is big potential for improvement.
That's why we've made some changes to improve our service for our vote-bidders, delegators and for us, as well.
Problem: Overbidding
If you have used a bid-bot before, the chance is high that you were over-bidden at least once.
Which means: multiple users bid and paid more SBD & STEEM than what the vote was actually worth and the result is: loss of investment.
Paying 20 SBD for a 30$ vote (11.25 SBD + SP after Curation) is not fun and for many smaller users, a drastic loss.
There are different reasons for overbidding and we believe that we've eliminated nearly all of them.
Revenue Loss Limit
Our first measure against overbidding and pro-profitable & -neutral bids is through our Revenue Loss Limit.
We believe that a bought vote should be used for promotion and not in the first place for profit-reasons, however - as we've written above - losing a huge sum of money is not ok.
That's why we decided to put our Revenue Loss Limit at -10%.
This will protect you from losing your invested SBD & STEEM through overbidding - by putting your potential loss at a bare minimum of 10%.
But keep in mind that vote-bidding is still somewhat risky and not as guaranteed as instant votes from our vote-selling market, @smartmarket. (smartsteem.com for more info)
25% Curation as Default
Another reason for overbidding is that some people calculate their revenue without curation and create their post very shortly before the end of a bid-round and bid on it.
While this is lucrative for the individual as they don't have to give away 25% of their vote-revenue to @smartsteem (due to the young post-age) - it however totally destroys everyone's profitability who bid on an older post or earlier in the bid-round.
That's why we've implemented the change that posts will be upvoted as soon as they are 30 minutes old (=25% curation).
Example: If a user submits a post which is 10 minutes old, when the bid-round starts, then we will wait 20 minutes until the post is 30 minutes old and then vote.
This gives everyone the same profit-calculation and the same risk of overbidding (but max. -10%) - which will prevent egoistic voting.
More balanced payouts
While writing this post, @smartsteem has over 2 Million Steempower from users who are delegating to @smartsteem and in return receive 95% of the daily-revenue. (smartsteem.com/delegators)
We believe that the changes above will result in more balanced payouts and most importantly: less frustrating bidding.
Additionally, the guaranteed curation revenue for smartsteem will help us to keep the payout-percentage as high as possible (95% is a very solid number) while still having enough revenue to keep developing and enhancing smartsteem.com.
Last but not least ...
We want to thank every single one of our delegators for supporting and delegating to @smartsteem!
THANK YOU!
Our Recent Posts
Disclaimer: This post has been up-voted via @smartsteem and all delegators have been credited accordingly.
Hey, @smartsteem @therealwolf
Nice to see you growing so big so fast. No wonder that yor're a leader in delegation market.
But... How exactly do you solve overbidding?.. You just push overbidders to the next round or what?
Thank you!
1.) We put a limit at -10% loss. The rest is getting pushed to the next round.
2.) All transfers are getting treated the same - meaning: posts will be upvoted as soon as they are at least 30 minutes old. Which means, that curation is always 25% and calculations can be made accordingly, bids can be made early on.
Any rules for improving the quality of posts upvoted by smartsteem?
Because not everybody is a spammer/plagiarist, but it doesn't mean they have made a very good post.
Quality is in the eyes of the reader - so we can't do much about that. However something similar is on our to-do list for the future.
Hey there. Out of pure curiosity, could someone get overbid so hard, or the volume so huge, that they get pushed back multiple rounds? also, if someone overbids a HUGE amount, which would normally take up the entire vote and then some, would you just refund the amount back?
okay.
Nice one @smartsteem great to know that some bid bots are pushing the boundaries of being a good responsible bot for the community!! Well done future will improve this further!! I enjoy supporting and hope to delegate soon
Thank you @steemingmark!
No problem =}
This is a wonderful question, been wondering the same myself. If steemit becomes more mainstream, I could see this becoming a massive problem with a bid bot influx shortly following.
Nice to know about smarteem.
Hi @lorner! =)
Hello @friendly-fenix.
Did you try @smartsteem? =)
I didn't try @smartsteem.
I think bid-bots can be good, (but we have to use: https://steembottracker.com
to see what bots are active and profitable). I am going to try @smartsteem next time I get a chance.
@smartsteem is fucking upvoting service . I send 30 sbd but he can not upvote my post .
https://steemit.com/steemit/@joy69/top-5-cryptocurrencies-i-like-2018
Fucking upvoter
Fucking upvoter
Fucking upvoter
Back my sbd
Wait, you posted that garbage on steemit clogging up the blockchain with that shitty fucking poor excuse of a post and you're complaining about losing money. You're lucky they gave it back to you.
Why don't you sell your steem and go buy your other 5 top cryptos them you provide no value to this blockchain.
You better watch your tone!
You were blacklisted due to your garbage content. I've refunded you the 30 SBD - next transfers won't be refunded!
I will never use the service again, because his activity is fraud. Promised not to impose a loss of more than 10% and in fact after kuration obtained at best -30%. Instead of giving people profit - the bot is robbing and deceives the people. I bet 5 SBD, the bot voted at $ 8.91 which means that after the curating I will get at best 3.34 SBD+SP. What's the point of using this bot if it does not give any profit?
You can cancel your vote and return me my money, otherwise I will consider you thieves and scammers!
I think @smartsteem is the most profitable bot for most of the time for me compare to the other upvote bots. Great adjustment here that is why I admire this bots. Great!
@smartsteem is fucking upvoting service . I send 30 sbd but he can not upvote my post .
https://steemit.com/steemit/@joy69/top-5-cryptocurrencies-i-like-2018
Fucking upvoter
Fucking upvoter
Fucking upvoter
Back my sbd
Because ur blacklisted. Abusing upvotes
I'm using smartsteem to promote all of my blog posts now. Knowing that I haven't ever supported bid bots, this is quite a personal revolution for myself :-)
Quality always rules.
You're nickname tells the whole story. Investing in @smartsteem is currently one of the smartest ways to re-invest in your own blog and the platform itself. Maybe it's even the very best way.
I guess your competitors will lose a huge amount of clients in the near future that'll all start to use your services... And they'll do quite well doing so :-)
Great job!
Resteemed
Thank you for the compliment and your continuous support @surfermarly!
We are doing our best, for it to be the smartest and best way ;)
I believe the market is big enough for competition but we are open to all users. (except spammers & scammers)
Hmm how's it different from other vote bots?
Hope @smartsteem will be a real profitable bot.
Nice ..
Yes, we must be confident of ourselves, this is the basis for doing anything correctly
Well done .. great post
.
I liked your work, well done
Thanks for your positive tips
Great post
@smartsteem - thank you for a great service and for the improvements.
I have delegated all my SP to you guys, as I really enjoy what you are doing and putting the community first!
Thank you @jmdk2000 - really appreciate that!
Do not support withdraw auto?
2 Million Steempower delegation is simply amazing. Unbelievable achievement for a young service!
It's truly amazing!
there are so many bots out there but to be one controlling over 2 million SP it is proof they you guys @smartsteem is doing a fine job. Thanks.
Thank you smartsteem ! Good continuation !
Avec plaisir!
Sympa de répondre en français ;-) Je te souhaite tout particulièrement une bonne continuation ! Merci pour tout !
I like the curation and delayed voting changes. Time to make the switch. ;)
I think so as well ;)
The fact you may have solved the over-bidding is huge! I can’t tell you how many times I’ve had a bid and then in the last 30 seconds get overbid from people rushing in. It is quite a pain in the ass haha.
I was about to ask how you solved the overbidding problem. I love the idea of “revenue loss limit”, gives people more incentive to go in on a bid without the chance of losing half of their money from over-bidders. Also, the “25% curation as default” is going to weed out the individuals who rush a post just to get a bid in.
Kudos to you @smartsteem for recognizing this ongoing problem with bidding on votes! Hopefully this is the first step in the right direction for us who do rely on bidding to promote our content :)
Thank you @cryptonewb. We are doing our best to make @smartsteem as safe to use as possible.
Now, for the record: the first person who implemented a revenue loss limit was @yabapmatt with his @postpromoter and I believe a -10% revenue loss limit in combination with the 25% default curation is an incredible combo to provide a reliable bid-service to all steemians.
Good idea
Is Brad Pitt really in on this? Why is jonah hill giving Brad that kind of look?
Haha, Hollywood's elite knows what's best :-)
haha good question, I guess Jonah was not ready for the camera and was probably talking to him and felt awkward.
Nah. Just lost a bunch of SBD on your services. Never again.
Proof?
5 SBD x $1.77 = $8.85 USD
That's how much I paid for your upvote.
$6.41 USD is how much I got back
I lost a total of 1.15 SBD on a 5 SBD send.
I don't think the promotion your upvote grants is worth $2.44 USD. LOST
NEVER AGAIN
1.) Do you live under a rock? Why isn't it possible for you to ASK WITH RESPECT?
2.) Do you understand how bid-bots work? Do you understand that every bid is a gamble? We only removed the chance of massive loss due to bidding - we didn't make it 100% profitable.
3.) You received a 10.25$ vote for 5 SBD. 75% author rewards are 7,6 STU. Out of that you will receive 3.8 SBD and 2.2 SP (based on the current price - `SP can be more or less).
That means you paid 5 SBD but will receive about 6 SBD back (STEEM converted to SBD with current rates.)
This doesn't sound like a loss to me. You made a nice profit in addition with your visibility gain.
I have no problem to answer to questions that are asked nicely even though my time is currently very, very limited, but taking shit from ungrateful people like you? No thanks.
Uh, the charts don't lie man. I'm not here to gamble. I'm here to promote content.
Math doesn't lie either.
Not sure where you're getting your math, but apparently it is not the same math that steem.supply uses for their charts. And at first you say I get 3.8 SBD. Then you say 6 SBD. Wha? Listen, I don't expect a profit, but I do expect that if I'm paying $2.44 USD for a vote that this visibility you speak of would be a bit more. I don't think you've solved the "big losses" problem with bid bots. As a matter of fact I distinctly remember being offered a guaranteed 233% to 266% ROI on steembottracker.com. It's why I started using smartmarket and smartsteem in the first place. Now I notice that that has decreased, and at the same time the minimum bid has increased to 5 SBD. That hurts. Not a nice gesture.
30-minute-post age is for @smartsteem alone and not for @smartmarket? Or for both? Thanks. :)
Only @smartsteem!
Indeed, I have used the service a good few times. I have to say it is well designed and easy to operate. Good job. 😊
Thank you!
Since the price has gone down from its peak is it still profitable to bot
Amazing
Thats a good one!
hello sir ,i sent 10sbd smartmarket since 15 hours ago,but you haven't upvote . that's my memo https://steemit.com/photography/@smsulaiman/3jg8bp and back my sbd @therealwolf
Refunded but you are blacklisted. Please don't make any more transfers to smartmarket or smartsteem
hi @therealwolf i sent 10sbd to @smartmarket 23 hours ago but i did not get either upvote or refund . please check my link and refund
https://steemit.com/photography/@smsulaiman/3jg8bp
Congratulations @smartsteem, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 352 and the total pending payments to posts in this category was $3929.34. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @postpromoter valued at 76.00 SBD, based on the pending payout at the time the data was extracted.
If you do not wish to receive these messages in future, reply with the word "stop".
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @xeldal valued at 70.49 SBD, based on the pending payout at the time the data was extracted.
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I'm just starting out and I have thought about bidding but wasn't sure yet about overbidding and losing what little SBD I had. The revenue loss limit makes a big difference so I'm going to check it out.
Actually I've tried to bid. I fill my name, amount of sbd and link, then I try to submit and I see blank site and I cannot confirm my bid, any ideas why?
Yesterday it worked normal and today it doesn't want bid on any bot :/
You can simply transfer it via your Steemit Wallet to @smartsteem
I hope more initiatives like @smartsteem come true. Hugs from Brazil!
Thank you smartsteem your post is helpful for new users who are using your services. I was also calculating without calculation of 25℅ curation.
Some people did this and there is nothing wrong - but it's unfair to those people who have calculated with 25% curation.
You are absolutely right.
I can only say thank u smartsteem ur a very good helper and supporter
Keep it up ur great
What is the difference between your bid bot and others ? No theres is not any differences. You are just making the trending page like a dumping site.
Most of the bid bot with high sp give -10 ROI we need 0 . Then only we will appreciate your effort. Otherwise its only loss of sbd for us just like from other bots.
It's great to hear you have made an effort to limit the possibilities of over bidding. This is one things that has kept me back from trying out the bidding. I always wondered how i would ever breakeven by paying so much.
this has given me the confidence to try it out. Thanks for caring.
Haha @smartsteem i delegated to you my steem power and guess how many SBD you send me ?? Null ...
The payout is once you reached 0.5 STEEM / SBD.
i cant find that on your website @therealwolf
Then I'll add that under FAQ. However, you can always join our discord and ask: https://discord.gg/srHEUuk
@therealwolf Thats good idea, because once these information missing many users could stop delegation because of missing payouts...
I like the curation
Great adjustment here that is why I admire this bots. Great!
Good luck,brand upvote 100%
hello sir ,i sent 10sbd @smartmarket since 15 hours ago,but you haven't upvote . that's my memo https://steemit.com/photography/@smsulaiman/3jg8bp and back my sbd
The law of cause and effect. If you do what other successful people do, you will eventually get the result that other successful people get. You don't have to be great to get started, but you have to get started to be great.... Congrats smartsteem
God bless you!
Thank you for the post very interested for me because I am new in Steemit I hope check again and try it
nice post
very helpfull
bid-bot intelligent idea , i will try , thanks for your post
this is good platform
That good friend @smartsteem @therealwolf, these new adjustments are pleasant to the bot, already came following the results in several publications and do not hesitate to use them soon. Prosperity.
Great post! Enjoyed reading it. Also for anyone who wants to check I'm giving away some SBD today for more info check my posts.
Amazing,,, your my motivation
Hi I sent you a notification transfer already to request my deletion from the whitelist. I just received one star out of three, which I consider as a slap in the face showing me that the reviewer probably judged my content depending on his or her own lack of resonance and understanding. I don't want to expel potential readers because of this rating. Would be kind if you'd do that. Best wishes, Alex
Sure - your decision. But there are def. worse things than a 1 star rating ...
Such an odd request. One star is better than no stars. These all or nothing types.
Thank you for the information@smrtsteem
how can i join it?
Simply go to smartsteem.com. :)
Will try