SMARTSTEEM

Smartsteem.com offers multiple services. one amongst those is our bid-bot:

@smartsteem - the presently 2d biggest bid-bot with over a pair of Million Steempower, wherever you're able to obtain votes by bidding for a share of a 100 percent vote. The votes area unit then solid each 245 minutes.

Over the previous few weeks, we've analyzed the landscape of comparable services and realised that there's huge potential for improvement.

That's why we've created some changes to enhance our service for our vote-bidders, delegators and for North American nation, as well.

Problem: Overbidding

If you have got used a bid-bot before, the prospect is high that you just were over-bidden a minimum of once.

Which means: multiple users bid and paid a lot of SBD & STEEM than what the vote was really price and therefore the result is: loss of investment.

Paying twenty SBD for a 30$ vote (11.25 SBD + SP when Curation) isn't fun and for several smaller users, a forceful loss.

There area unit completely different reasons for overbidding and that we believe that we've eliminated nearly all of them.

Revenue Loss Limit

Our 1st live against overbidding and pro-profitable & -neutral bids is thru our Revenue Loss Limit.

We believe that a bought vote ought to be used for promotion and not within the 1st place for profit-reasons, but - as we've written higher than - losing an enormous total of cash isn't ok.

That's why we tend to determined to place our Revenue Loss Limit at -10%.

This will shield you from losing your invested with SBD & STEEM through overbidding - by swing your potential loss at a clean minimum of 100 percent.

But confine mind that vote-bidding remains somewhat risky and not as secure as instant votes from our vote-selling market, @smartmarket. (smartsteem.com for a lot of info)

25% Curation as Default

Another reason for overbidding is that some individuals calculate their revenue while not curation and build their post terribly shortly before the tip of a bid-round and bid thereon.

While this can be profitable for the individual as they do not have to be compelled to disclose twenty fifth of their vote-revenue to @smartsteem (due to the young post-age) - it but altogether destroys everyone's gain UN agency bid on Associate in Nursing older post or earlier within the bid-round.

That's why we've enforced the modification that posts are going to be upvoted as before long as they're half-hour previous (=25% curation).

Example: If a user submits a post that is ten minutes previous, once the bid-round starts, then we are going to wait twenty minutes till the post is half-hour previous so vote.

This gives everybody an equivalent profit-calculation and therefore the same risk of overbidding (but Georgia home boy. -10%) - which is able to stop egocentric ballot.

More balanced payouts

While putting this on ink post, @smartsteem has over a pair of Million Steempower from users UN agency area unit authorization to @smartsteem and reciprocally receive ninety fifth of the daily-revenue. (smartsteem.com/sponsors)

We believe that the changes higher than can end in a lot of balanced payouts and most importantly: less frustrating bidding.

Additionally, the secure curation revenue for smartsteem can facilitate North American nation to stay the payout-percentage as high as potential (95% may be a terribly solid number) whereas still having enough revenue to stay developing and enhancing smartsteem.com.

Last however not least ...

We want to convey each single one amongst our delegators for supporting and authorization to @smartsteem!

THANK YOU!