Ever since becoming aware of Steem Bot Tracker I've been watching the bots with great interest. It struck me that by the time payout is reached, most bots have accrued so many bids that the return-on-investment for bidders is negative.
This said two things to me:
- The demand for bid bots is extrememly high.
- The market would greatly benefit from a bid bot that can guarantee a profit.
I'm now the proud owner of @honestbot. My bot meets the demand of point 1 merely by existing, but point 2 was a little bit trickier...
This is the little animation that I teased yesterday.
How does it work?
HonestBot is able to guarantee a positive ROI by tracking the real-time value of Steem and SBD. It sets a round fill limit feature that prevents the total amount of bids from exceeding the total value of HonestBot’s vote. This ensures that at the time of voting, no one will receive less than the value of their bid. Any bids that exceed this limit will be automatically returned.
Don't worry, this limit amount does accounts for curation fees. But of course, HonestBot cannot account for future changes in market prices, so it cannot guarantee that the ROI will still be positive by the time of a post's payout. But at the time of the bid, a profit, or at the very least a match of the bid's value will certainly be had.
For more details, visit HonestBot's introductory post.
For those of you who hate bots...
I hope you won't hate mine quite as much as some of the others. Clearly voting bots are something the market wants. I'm just trying to get things done is a way that attempts to reward its customers more fairly.
Let me know what you think in the comments!
~Seth
P.S. I'm only going to do this once, but I want to take my bot out for a spin. I'll send the minimum amount to promote this post.
I think unprofitable voting bots are better than profitable ones, but im sure your customers disagree.
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Hi @knircky,
It seems you got a $12.125 upvote from @knircky at the last minute before the payout. (16.06h) and this comment is to make everyone aware.
Please follow @abusereports for additional reports of reward pool abuse. Thank you.
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Elaborate?
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Happy to celebrate your arrival @honestbot!! You may be more special than you know, setting a precedence for all future bots! Thanks @sethlinson and @yabapmatt for this collab. Delegated a lil SP towards your growth! 😃
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Thanks so much for your constant contribution to help and develop the growth of the community, more grace to you, honestbot sounds like fun, i will definitely give it a try, are there any other benefits honestbot might have?
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Compared to the other bots? No, not really. The guaranteed return-on-investment is the main draw. But that's a pretty substantial thing considering that most people lose money gambling on bid-bots!
It's vote power is relatively small right now. I'm hoping get more delegations and grow the bot.
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How do you use a bot? What does a person do, or website to go to, or post to or upvote, to make use of the bot?
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With most bots, you simply need to send them a steem or SBD amount and include your post link in the memo. The bot will vote on your post at the end of the bidding round. Alternatively, you can find a lot of bots on Steem Bot Tracker and bid straight from there using SteemConnect.
In the case of HonestBot, it has a minimum bid of 0.05 Steem/SDB and a maximum bid of 0.5 Steem/SBD. The bidding rounds are 2.4 hours. Just send an amount within that range to @honestbot with your post link in the memo and you're guaranteed a profitable upvote!
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Thx for the explination. I think I am going to try your bot. I have never used one before. I know there is the raging debate of bot or not bot. I only know about not bot so I can't really formulate an opinion on the bot portion. Thx again!!
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No problem :)
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Dude, this is awesome, are there any other conscious individuals with their algorithms?!
#honestbot #integrity #peopleoverprofits
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As far as I'm aware, @honestbot is unique. When I pitched the idea to @yabapmatt (the developer of @postpromotor and Steem Bot Tracker) he said he was considering something similar for postpromotor but hadn't implemented it yet.
He integrated the price tracking of Steem Bot Tracker into the postpromotor script, set a round fill limit, and @honestbot was born!
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Man this is so genius/ingenious that I feel all giddy about the potential of the community when it comes with Honesty and which begets Fairness. When I first joined I was put off by bots but people have demonstrated again and again that we need them as much as we want to detest them. Thank you again, gonna change my favorite steemian from myself to you!
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It kind of hurts, because I'm looking at the bot's wallet and I see how much money is being returned each round because i exceeds the bot's limit... And I realize how much more I could make by running a bot just like all the others.
But I want to do this right!
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Do this right and you will undercut the competition while they try to catch up, who doesn't love that there's ZERO transaction fees!
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Aww shucks. :)
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lol :D
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So @yabapmatt was the primary developer of this? I've been trying to develop a bot (not a bidding/voting one) on and off the last couple months and keep hitting brick walls. I'd love to be able to pick the brain of someone who actually got one working.
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Yes. And he offers software as a service (SAAS) for creating bots.
P.S. I saw you made a bid but it got returned. The round limit is pretty low right now so if your bid ever gets rejected like that, just try again with a smaller amount so you don't exceed the bot's limit :)
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Feature request: Have the bot tell me how much I should bid and/or how long I need to wait for the next round. Don't make me guess. :P
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I'll see about getting that added. For now, you can follow the bot on Steem Bot Tracker and it will tell you the recommended maximum bid for that round.
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Their SSL cert seems to have expired. :(
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Hmm. It's working fine for me :/
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Been busy this past few weeks. This is one of the great post I saw here. Maybe people who hate bid bots or bots (eye rolls) are those who don't understand how they work. I don't have much but if you need people to support your bot I am willing to help and I am sure my friends will like it red fishes like me. We depend on bots sometimes, low voting power and earning cents on curations. We put too much effort on our post but it seems we are invisible to the steemit society so we use bid bots cause we know our post is worth earning. Some of us spent sleepless nights to make a post specially art works. 😞. Specially like me who always earn cents and I have a full time job so bots are good to keep me on track.
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For those who have a lot, the best way to help is delegating SP. For those who don't have much, the best way to help is by simply using the bot.
Thanks for commenting! If you want to keep an open dialogue with me about this, feel free to join the HonestBot Discord server. The link is in the @honestbot introduction post.
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You just received a 7.24% upvote from @honestbot, courtesy of @sethlinson!
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Excelent!
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