Navigating the crowded BidBot market

Introduction

Getting positive ROI (Return on Investment) from Bid Bots.

Popular bid-bots are frequent defaulters

-ve ROI

When you hear the name bid bot, which name strikes first? For me its randowhale, probably that was the first bot that i used from a small trades (vote buying - giving SBD in exchange of Whale Vote). I liked the concept of bidding for votes as it gave me some positive ROI and a 'moral' boost to my post. I had used @randowhale services quite often.

I was loyal to @randowhale till the time I was getting positive ROI, but when i started looking for alternatives I was kindda surprised to see that there are 70 other Bots that are providing similar services, had not expected this "Vote Selling Market" will grow so quickly.

https://steembottracker.com/ provides a comprehensive list of bots that are selling votes in exchange of Steem of SBD.

Observation:

• The most popular and big WHALE bots like @upme @postpromoter @booster can make your life with single upvote of $100 or more
• But thats the pit where most of the bidders tend to fall... since everyone bids for the popular bots they end up receiving negative ROI on the SBDs send.. see the picture below

New comers (less common bots) are hard to ignore

+ve ROI

In the crowded bid bot market, there are many new comers. These bots are eclipsed by the popularity of Whale Bots, but for smaller investments they can be hugely beneficial.

• example @eastabond @cryptoempire @spydo (picture below) and many other such smaller bots can be leveraged to get a positive ROI

New comers (less common bots) are hard to ignore

+ve ROI

In the crowded bid bot market, there are many new comers. These bots are eclipsed by the popularity of Whale Bots, but for smaller investments they can be hugely beneficial. But the challenge is to go through the list of 70+ bots and see which one is profitable at the moment.

Recommendations:

1. For bot owners: The bots should limit the number of bids that they can receive in any round. If the Vote value is lower than total bids received, spill over the bids to the next round
2. For bidders: Never put all your eggs (bids) in one basket (bot) always split your bids into more than 3 bots to get a better ROI.

After all the money earned is money earned, and money saved is also money earned.

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Posted on Utopian.io - Rewarding Open Source Contributors

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