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RE: How to NOT make money on Steemit!
Nice post. I was a little confused about the curation timing part though? If you vote on a post within 15 minutes of it being written you get none of the rewards if the post takes off?!
This is a weird rule. It is not difficult to write a bot that posts at exactly 30 min instead of earlier. What exactly is this accomplishing. This post has been up for 15 mins and I have to wait another 15 before upvoting it?
As a matter of fact, I might need to write something that reminds me to go back and vote on posts so I don't forget about them.
its taking away the bots advantage.. ie giving others an opportunity to see and vote on the post before the bot does.
So if the rule wasn't there, the bots could jump on a post as soon as it came out, and take all the curation rewards for both successful and non successful posts before anyone had a chance to even see it.
with the rule in place yeah the bots can vote at the 30 minute mark, but others can get in ahead of them slightly earlier. , with almost full power. they can adjust backwards, but hurt % when they do.... so there's a balance of power.
it would be an interesting game theory model to figure out when the best timing was, and how to players could alter their strategy to optimize for competitor strategy.
very true, that doesn't make much sense either but it might be the lesser of two evils...
I agree with you on that one, it feels a little dumb some times knowing a post will be popular but there are many others thinking the same, let's wait for 25-30 minutes, then boom bots appear.
But then again, with more users, and same rules, people will start making bots to trigger at 29 minutes instead, or 28, or like many right now already are doing to support the author more, they upvote on 15 minutes and share curation rewards. Some users do it before 15 minutes, while I bet many are already making bots to do the same.
In the end it won't matter too much I think, with more users and SteemPower in more users wallets, people will distinguish bot upvotes from user upvotes and choose what to reward themselves thus creating 2 groups of voters.
Or the rules will just be adjusted over time and come up with something better, thats what's so awesome about open-source. :)
I believe they go up linearly from 0 minutes being 0% to 30 minutes being 100%, so 15 is 50%.
If the post does really well and you were the second to vote on it, I am not sure how much of a reward you get even thought most of your vote went to the author.
Yessir, your linear statement is almost exactly how the "Steemit 101" book (99c download on Amazon Kindle) describes the current situation. And great article @acidyo following you now.
Interesting, so for minnows to maximize their votes they should vote right at the 30 minute mark every time?
Yes, but that does depend on the value it has then. If its already at 200 $D and the post will make around 600 max, your vote won't make as much profit even though you get 100%.
If you then vote on let's say 15 minutes, get 50% of your vote weight and the value then was at 2 $D but after 2 hours its at 2000$ it was a better choice for you to share the reward with the author cause it got really popular and you ended up profiting more than had you voted at 30 minutes at 50 $D.