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RE: Bid Bots Demystified and Reasons Why You Probably Shouldn’t Be Using Them
Well, of course, that can happen because of the 7-day waiting period. But it could swing the other way as well. Imagine buying votes in SBD and STEEM went down during your pay period. You can now get more STEEM with you SBD payout. Also, your visibility can be higher if you have more votes on your posts which in itself can get more votes.
Well, what I tried to say is that it is not just gambling!
Last week on Wednesday one could have paid upvote bots to upvote a post due for payout last Friday (2 days later!), knowing that the rewards pool on Friday would be higher than the rewards pool on Wednesday, since on Tuesday the price of Steem had already gone up by more than 100%, but the rewards pool had not gone up not yet!
And I am not saying that bots are bad, they can be great if you know what you are doing (but most people don't..)!
Well I know now...haha thanks you guys! <3
This is an interesting thought, but isn't it akin to trying to time the market? You're then just using upvotes as a way of "trading" crypto. You don't really know where the market is going to go between the upvote and the payout.
No, you didn't get what I mean. The rewards pool takes the average price of the past few days, so there is a delay. So when the market went up a lot today and yesterday but goes down tomorrow, the rewards pool will still go up tomorrow!
Gotcha. Thanks for clarifying :)