The Ethical Way of Vote Selling. One Word : Smartsteem

in smartsteem •  7 years ago 

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Preface

This is probably the age old question on this platform that should you sell your votes to bidding bots?

The answer to this cannot be given as a simple Yes or No. There are a lot of dynamics that play here and a mere single word answer would probably raise a lot more questions.

What is Vote Selling

Vote selling is a phenomenon, whereby you empower a bot to place upvotes on articles on your behalf for which they receive upvote requests from respective authors.

There are two types of upvote bots :-

  1. Instant vote bots that provide upvote instantly after a request is made. For example @minnowbooster
  2. Bid bots that do upvotes after every 2.4 hours after receiving bids from users. For example @jerrybanfield, @buildawhale, @sneaky-ninja etc..

There has been numerous debates on this topic whether people should be selling votes to upvote bots and to be honest both sides have given some solid arguments to support their respective narratives. I will list down few of these pros and cons for the appraisal of readers:-
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Pro Vote Sellers

  1. If your voting power is sitting at idle, then it is better that it should go into rewarding someone’s efforts.
  2. Maximisation of profits since your SP is your investment in the blockchain and you reserve the right to get profit on that investment.
  3. Availability of boosters for those who don’t have a lot of following but want to promote their articles.
  4. Supporting minnows.

Anti Vote Sellers

  1. Rewarding without reading content is unethical.
  2. Steemit is a social media platform not a business place.
  3. Bidding bots are handled by whales who are getting more rich by feeding on minnows.
  4. You might be unintentionally rewarding an article that is either below average or plagiarised.

Author’s Opinion

I used to be a staunch opposer of vote selling even though i have frequently used upvote bots. Though some of you might say that i am a hypocrite but i am not. Actually i made sure that every such post on which i was using an upvote bot or bid bot service, was never below average and that it always contained valuable information.

Despite using upvote bots services, i never really tried to sell my vote because i was afraid that my voting power could be used to reward a below average or a plagiarised post.

Lets be honest here. We are on steemit to earn money (a truth in its most crude form yet a truth nonetheless) and even though vote selling is a lucrative option to maximize our profits, i have always been afraid to do that because i value my credibility as a blogger and as an appreciator of good content as well.

Is Their An Ethical Way to Sell Votes?

The term “vote selling” can never be free from being controversial. However, at this juncture, we now have certain means to address most of the “wrong” things associated with vote selling.

HOW?

SIMPLE ANSWER : USE SMARTSTEEM

Disclaimer

At this stage, i want to strongly point out that i don’t have any personal relations with @therealwolf or @smartsteem. I am compiling this so that other steemians can be educated about a wonderful upvote bot through which you can sell your votes to appreciate authors around the globe whilst being sure that your upvote is not being abused by a plagiarist or a crappy post creator.

What is Smarsteem

@smartsteem is a hybrid bot.. means it is both an instant upvote bot (goes by the name @smartmarket) and a bid bot (goes by the name @smartsteem).

The brain behind the smartsteem project is @therealwolf.

To use @smartsteem or @smartmarket, send desired SBDs to these accounts and provide links to your posts in memo to receive an upvote..

But we are not here to know about how to receive upvotes. Are we? We are here to talk about vote selling.

How Vote Selling is Better Via Smartsteem?

Adequate profits

When we talk about Vote selling, the first thing that comes to mind is profit. With @smartsteem you can get upto 85% of the share of profit that smartsteem makes by getting SBDs or Steem. Furthermore, the curation rewards you will receive on your casted upvote is additional to it.

You can choose to reduce your profit from 85% if you’d like to aid in development of smartsteem.

Ability to Select Vote Users

Now this is what i most like about smartsteem. It gives me the ability to choose that where my upvote will go.

You can choose from following three options i.e

  • Anyone who asks for upvote from smartsteem
  • Your choice of authors only
  • Only to those authors whose content is either good, great or excellent (as filtered by smartsteem’s smartscore star system)

The option window is as illustrated below :-

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What is Smartsteem Smartscore Star System?

Smartscore star system defines the quality of content of a user and is approved via smartsteem whitelist program. Any user who wish to become whitelisted can submit an application on smartsteem’s page smartsteem.com.

The moderators will manually check the profile to see the quality of content written by user and will respectively award the user with one of the 5 options:-

  1. The user can get “good quality” stamp of approval from smartsteem and will have 1 out of 3 stars rating.

  2. The user can get “great quality” stamp of approval from smartsteem and will have 2 out of 3 stars.

  3. The user can get “excellent quality” stamp of approval from smartsteem and will have 3 out of 3 stars.

  4. The user can be denied to be a part of whitelist program if the quality is not upto the mark.

  5. The user can in turn be blacklisted for writing plagiarised content.

I am a smartsteem whitelisted user with 2 out of 3 stars rating and i have selected only those people eligible to get my upvote through smartsteem who are whitelisted.
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Friendly GUI Packed with Features and Options

Another reason for smartsteem to be my pick is the availability of alot of options through their carefully yet friendly designed GUI.

Smartsteem’s page is packed with features like vote history, settings, balance information etc. and it gives the vote sellers full control of their vote selling contract. See the illustrations below to get acquainted with what i have described above:-

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Option to Choose Voting Power Threshold

Though this feature is already incorporated in most of the upvote bots, yet i wanted to highlight this for those who are oblivious to this feature all together. You can choose your voting power threshold and smartsteem will only use your upvote if your Voting Power is above that threshold.
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Currently, i have placed this setting at 90% VP so that my votes can only be purchased when i am idle with my VP at 90% and / or above.

Why Did I Become a Vote Seller Through Smartsteem?

As i have been mentioning in my previous posts that i am an extremely busy fellow who juggles around work, gym, my son and domestic issues everyday and mostly my VP sits at 100% in idle position.

I want to reward good quakity creators on the platform but I was reluctant to sell my vote fearing that it would be misused by people who have absolutely no respect and regard for steemit.

By using smartsteem, i have made sure that i keep on encouraging good content writers while keeping the ethics of vote selling alive when i am unavailable on the platform.

Conclusion

I would suggest the readers to go over smartsteem’s page and give it a read. If you like what you see and if you are a bit liberal towards the idea of vote selling on steemit then smartsteem is the way to go in my opinion.

Regards
JBN

I would greatly appreciate if the readers could upvote and resteem this post. Questions or comments are always welcome.

Thumbnail image is designed on free canva tool. Rest of the images are either taken from pixabay or they are screenshots taken from mobile device.

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Vote selling is a great way to support minnows. I personally use MinnowBooster as that is the service I first signed up for. But I will take a look at smartsteem to see what they have to offer.

For those of us who believe in Steem, invest in Steem, and just have no time to filter through all the new comments vote selling is the way to go.

I only sell votes down to 90% vp so that I can manually vote some posts each day that I enjoyed reading.

You will be surprised to see how smartsteem has managed to cater for all the shortcomings of minnowbooster.. though i won’t be comparing the two services since i have not indulged in vote selling through minnowbooster. But i would suggest you to look into it..

And i too have set the threshold at 90% VP for the same reason as you have mentioned above.. thank you very much for the response..

I love that you get paid instantly plus SP rewards when the upvoted posts pays out.

Yes that too. However i have selected 3 days time period as far as payout goes.. looks nice to withdraw a hefty amount altogether :p

I am used to withdrawing daily. I guess I will follow your approach ,withdrawing bigger amount seems looks to be the nicer option. Cheers.

In my 2 cent opinion smartsteem is a great option especially for those who don't want to upvote for scrap posts or bidding post. Thanks for sharing. Personally I am against the bot usage for my post and voting. Although my voting power is pretty low.

I used to share similar sentiments but there is a problem with steemit. And that is visibility. Even with 700+ followers, i am practically invisible which means i have to beg others to look at my article to get rewarded (if i deserve it at all).

But with most whales circle jerk voting each other and not paying attention to quality content, i now fully support use of upvote bots. Because i dont like to waste my time on writing a post that takes about 2-3 days of research and end up earning 50 cents or a dollar for it.

I have full confidence in my content and thats why i promote it for others to see. Others have the option to flag my post if they think that my content quality is not good or i should be not be getting this much payout on a specific post. But not even once i have been flagged ever in my life.

I hope you will find some value in my arguments.. much regards..

Honestly speaking your post deserve more audience. I have the same problem. But may be my post doesn't fall in the quality posts so I can't earn some thing big. All the best @jbn

Its not about quality. Its about people not caring about curating posts outside of their own circle of known authors..

Awesome tutorial about vote selling on smartsteem. Sir i highly appreciate your wonderful vote selling tutorial though i haven't enough sp for selling vote but it will be helpful for me in future.

Thank you very much for the appreciation.. i hope you get enough SP in future.. when you do, do think about vote selling as your valubale upvote might help some person who is trying to promote quality content somewhere.. best wishes

Thank you sir.

That's a well though-out article on the topic. There are some who will stay opposed to the idea regardless of who is getting the vote, but I think you did a good job of delving into some of the pros and cons.
I have noticed that SmartSteem lags behind MinnowBooster as far as return for the votes purchased. For instance, SmartSteem says they'll give 1.8-2.1x votes for the amount you send. MinnowBooster has been at 2.3x+. According to my math, breakeven after curation is just under 2.1x, so at this point, I wouldn't want to buy votes from SmartSteem. The market is declining, so I'd be lucky to make my money back. It's a good deal for the seller, but not as much for the buyer. Fortunately for the sellers, there seems to be a steady supply of buyers who don't consider the math. Ha ha.
I don't know that I'll start selling my vote yet, but if I change my mind, this article will be one that I come back to! I can see how you got 2 stars. :)

Well you have presented logical argument. But there is a hidden point to it. Smartsteem values whitelisted members more. Actually the point of getting whitelisted is so that smartsteem knows that their voting service is not being abused..
So if you go over smartsteem’s website, you will see that there are more rewards for users who are whitelisted.. last night i transferred somewhat 1.9 SBDs and got 4.1$ vote for it. Thats more than 2.1x.

You can also maximize your profits by immediately purchasing vote after posting an article (that way, you will also get curation rewards).

Lastly i would like to thank you for such a detailed response. I am glad that my guide will be one upon which you will reflect when the time comes for you to start selling your votes..

Regards

You're right, there is the whitelist. I didn't know that whitelisted people got higher returns. That can make a difference. I appreciate that they don't want spammers using their service to boost garbage. You shared in the article that you can choose who buys your votes and I hadn't known that.

I think that MinnowBooster lowers the multiplier if you buy a vote right after posting. This is because the seller doesn't get any curation. I must have wrongly assumed that SmartSteem used the same method as MinnowBooster. Or I could be wrong on both counts. It's hard to verify information on Steemit sometimes, and things change very quickly.

Thank for your reply. I got more clarity on things from it. Have a great day!

I think that MinnowBooster lowers the multiplier if you buy a vote right after posting.

I didn’t know that :p guess we all learn new things everyday.

But i am pretty much right about smartsteem. Their distribution is such that unless you are whitelisted, you are not supposed to make any profit from the paid upvote.

That's really interesting. Good to know. You get your money back and maybe a small bump in rep, but it prevents people from getting rewarded for bad content. I'm whitelisted though, so I should be able to get votes. Thanks for filling in some of the blanks for me.

My pleasure 😇

Haven't used smartsteem nor heard of it. I prolly have to go look into it.Thank you for the tutorial @jbn ! You're helping big time.

Whoaa.. really?? You havent heard of smartsteem? Well you should look into it.. its great and you will find it really interesting as far as vote buying or selling goes..

WoW .this is so good vote selling on smartsteem tutorial.This is so helpful Post.Thanks for sharing.Have a Nice Day.
@emonnaim01

Awesome!

Thank you very much..

You just received a Tier 0 upvote! Looking for bigger rewards? Click here and learn how to get them or visit us on Discord

To be perfectly honest this is still a bit above my head, but I have bookmarked this for reference, thank you for taking the time to write up this breakdown and give such helpful links my friend.

I wish you the best, keep creating quality content my friend, I have already enjoyed several of your articles even as a newbie!

Much love,
Anarchistpreneur

This is an interesting overview. There are also lots of small minnow groups that operate like a service. Clixmoney is one, upvotebank, and the various resteem services on resteem club, school of minnows, redfish coin, and more. Most are minnows just being "power in numbers" so it keeps the rewards in the lower end of the pool. I wish there were more tiny groups like this that also watch their curation. I like helpie, curie, and ocd too.

Dude, I just applied for whitelist today and I hope they'll accept me. I never used it before to sell nor buy votes, so I want to know how much of ROI do they offer for buying votes? I only used minnowbooster before, but today they gave unusually low ROI, so I guess there is something wrong with the service and I am considering switching to smartmarket. So, what do you think which one is better for buying votes?

What does your level/ranking number thing have to be at to be able to sell your votes? Is there a certain number.

Also, greetings from a fellow anarchist my friend, I'll follow and give your page a look!

Much love!

Happy to see your service is good..

Thats not my bidbot service. And you should probably contact the owner about this since i have clearly mentioned in the post about who the owner is..