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RE: Post Promoter JavaScript Voting Bot - Update 4 by penston

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Viewing a response to: @yabapmatt/post-promoter-javascript-voting-bot-update-4

· @penston ·
I've been looking at several bots and it appears as though a lot of people are losing SBD/STEEM on them after curation. How does that happen and is there a way to fix it?
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@yabapmatt ·
The bots work on a bidding system, so the value of the votes received is directly dependent on the amount of bids that come in that round. If more bids come in than the bot's vote value is worth after curation, then it will be a negative direct ROI. Many people wait until the very end of the bidding round to see what the return is before deciding to bid or not.

But to me the bots are a tool to help you promote your posts, not to make a quick profit. Even if you lose a little bit or break even on your bid you should gain a lot more by the increased visibility your posts receive.
👍  
properties (23)
authoryabapmatt
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vote details (1)
@penston ·
I completely agree with the idea of using bots as a promotional tool until you get a strong following. However, I think that people may be using bots without realising that they could be losing SBD.

Automatically refunding bids (along with a message explaining why) that are at the threshold of unprofitability would establish fairness. I think I'm going to have to write a post about this.
properties (22)
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@yabapmatt ·
@penston there's nothing unfair about the bid-based voting bots. Everything is completely open and transparent and never has there been any guarantee of profitability.

I've considered the idea of refunding any bids that cross the profitability threshold as you suggest but there are a few problems with that. The most obvious being that most bid bots of any size need to pay for their SP, and it's pretty pricey these days. I highly doubt any of them will be open to refunding bids for this reason.

Also, profitability calculations are based on current prices of STEEM and SBD whereas the post payout happens in the future. If someone thinks prices are going to increase, they may want to try to capitalize on that increase by making big bids which show as unprofitable now, but may end up being profitable on payout.
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