The SP interest still accrues in their favor on the delegated SP
Anything delegated does not give anything to the delegee, that's why they charge fees. These fees are so high usually you can't even make a profit self-voting yourself 10 times a day without curation rewards.
delegations can be for 30days to discourage abuse
First, each delegation has a 7-day cooldown when you cancel it, this discourages short-term delegations and moving delegation around. If you are telling me that whales are not only going to give away millions of dollars of SP and police what the users are doing, I have some lakefront property I have for sale if you are interested. The amount of spam on this platform is legendary, and users have to sacrifice their rewards to police it. This is why people don't do it, and when they do people start writing 10 posts about them getting flagged and censored. From a high tower, it seems like a simple problem to fix, but it isn't so easy.
why?
Because I choose to do something. To make the place better than what I found it. To invest in the future of Steem. I am also a witness, but that is also a loss, what little I get from it doesn't justify the time or the equipment I lease. I do far more than just run a bidding bot, anyone that knows me can speak to that.
Could things be better? Hell yes, are bots the problem? No. The problem is the 1% on the platform have 99% of the power and 98% of them are auto-farming the rewards pool and not even participating in the platform. Steem Inc has a huge stake in the platform (70% I think) that was just written on the books. The number 1 thing that can be done for Steem is to burn 70%+ of that stake. That would dramatically increase the value of Steem more than anything else that can be done.
I am not surprised you are not aware of it. But STEEM earns a tiny percentage for just being in SP. That % is earned and is added to the stakeholders SP whether it is delegated or not. Fact check it.
"These fees are so high usually you can't even make a profit self-voting yourself 10 times a day without curation rewards."
From either Blocktrades or minnowbooster you can lease a delegation every day of the week and make a profit (NOT INCLUDING CURATION) if you upvote yourself 100% (10x a day).
Either you are intentionally deceiving or the worst at math ever(of one trying to run a business.)
I don't buy it.
I have done the math. It is black and white. I have not leased it because I WILL NEVER upvote myself 100%, 50% or even 25%.
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Wow, keep those digs coming bro. Yes, I am familiar with it, but it is so tiny it is no comparison to anything we talking about. In fact you hit the nail on the head, "TINY".
If you go for the 4 week+ you will make somewhere between 1-2% before decay and that's if you create a new post every 2hrs 40 minutes and have zero curation rewards. Doing so you will likely get flagged and thus my point.
Yeah, that's it.
Here's the math for ya.
10,000 SP will give you a 0.88 vote. You get 70 votes per week, so a total of $61.60 in SBD.
The rent will cost you 10,000/ 150 = 66.66 STEEM. SBD is higher than Steem right now. Even considering, the 10% difference in SBD/STEEM puts you at 67.76 Steem for your 66.66 STEEM spent. At net 1.7% ROI.
This is factoring in doing 100% votes 10 times a day, exactly at 2 hours 40 minutes, on a brand new post, with zero curation rewards being shared. Something that will get you flagged to zero pretty quickly.
Before you bring it up, yes I know MB lowered their cost, this was in the last 24 hours and is completely new information, it is also only a minor change to the equation.
I also know SBD/Steem gap is larger right now, the tools that show these rewards use a 7-day average and this is a very rare abnormally.
I'd love to see your math.
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