Some words about ocdbfund
As some people have been wondering what is up with @ocdbfund I wanted to write more about it here to be more transparent with it. Here is the initial post about it's announcement if you want to read it, but not necessary if you're reading this post.
People have been asking me what the point of @ocdbfund is and if it's a good idea since it doesn't have any content and that is what the @ocdb "bid bot" was supposed to reward. Thing is that Steemians have this mentality where they see the price of Steem going down they stop using bid bots altogether, not sure if its due to the volatility of SBD as well but many fail to understand that as long as you use Steem to buy votes you still receive the profit that @ocdb guarantees, which is a bit over 10%.
As you can see from this first post of @ocdbfund that got its rewards recently, the bid was 35 steem and the return was 38.66:
Anyway, until Steem price starts stabilizing or going back up, I figured instead of leaving the bot idle we could put it to some good use. The delegators that have been delegating to it are after all looking for a return as well which they could've gotten from another bid bot who may or may not have given them a better return considering the promotional bid bots may not have a minimum ROI cut off and don't guarantee a return of 10%. While our delegators are still earning a nice return and rewarding quality authors that have been curated by @ocd in the past or proven themselves to generally write awesome content I thought that this @ocdbfund idea would be great to keep their ROI at the max.
The thing is though that the profit that comes out of the account should be put to good use, that was the whole idea with the post I linked at the top as well, I was asking the community for some solutions to what it can be used for. Although the suggestions were great there wasn't something vital that needed funding as soon as possible, but that's alright cause as the account and profit grows the price of steem may recover as well and the amount that can be used to fund something that the whole community needs will grow at the same time. This is after all made possible by everyone delegating to @ocdb so naturally it should go back to aiding Steem the currency and blockchain.
In the meantime though I've been looking at some numbers of @ocdbfund so I wanted to quickly address them as they're quite interesting. Now this isn't a charity from my side so at some point I will be transferring back the Steem I've invested in it so far (780 Steem), but the profit will stay there and accumulate over time. As of right now there have been 28 posts posted with bids from 10 to 40 steem at a time but only one post has paid out so far as shown above. This post was 100% powered up and the Steem Power was delegated to @ocdb which will start giving us a return when the payouts occur every 24 hours. What is interesting is that with most of the other posts that are 50/50 I will soon not have to invest more Steem into the account as it will be able to use the liquid Steem from the post rewards to fund itself all while each posts return an approximate 10% profit. Since part of the Steem Power that is delegate to @ocdb is part of the profits created by the votes from @ocdb it also means that 10% of the daily returns from @ocdb will also go towards the fund. Sounds complicated? Well it might just sound it in written terms, here is shortened part of the list:
| # | Steem Bid (total) | Steem Return (#) (fund profit) | SP Delegation to OCDB | Return from Delegation (fund profit) |
|---|---|---|---|---|
| 27 | 40 (740) | 38.659 (1) 3.659 | 38.634 | - |
| 28 | 40 (780) | 38.659 (1) 3.659 | 38.634 | - |
The number represents the amount of posts, next we have bid for that post and total invested Steem that it has bid with. After that we see the return and from how many posts that is and how much of it was profit which will go to the fund. Since there's only one post that has been returned so far all of that SP has been delegated to @ocdb but it has not yet returned anything so far.
It is going to be exciting to see how this account grows and I hope the community keeps it in the back of their head in case something comes along that would require some extra funding and would help the whole platform. In these tough times you never know when you could use some savings so we at @ocd are hoping that this will be put to good use but over time hopefully we won't need to use @ocdbfund as much since authors will want to grow their stake using @ocdb themselves. But maybe we can sneak in a bid here and there with the profits as they will go to a good cause. :)
Thanks for reading, stay tuned as @ocd is currently restructuring curators and will be looking for some new ones shortly and we also have a lot of new things coming up!
Hi, just wanted to comment on the part where you describe people reacting to the falling price of STEEM. If one just looks at the numbers within the ecosystem, Steem is as profitable now as it was 6 months ago. Indeed, upvote values have been fairly constant for months in STEEM.
So, I think Steemit - indeed, all platforms - should show pending rewards in the native STEEM rather than $ (which is not really a dollar). I know Steempeak show rewards in STU; not sure about others.
Cheers!
Taking the advantage of the low season of Steem and start this fund is just great. Just like how other Dapp works like @busy.org whereby they set up different fund for a different purpose like supporting initiatives, seperating it from the bid bot and also the main account that curates contents.
So in overall, @ocdbfund will be delegating to @ocdb to get the return while waiting for any potential projects to support?
How does one get onto the @ocdb whitelist?
Good transparentcy.
Yes. :p
Yeah, I was moving too fast. :) Anyway, it was a good update.
If you don't mind me asking, but what is the purpose to it being capped at 10%ish? Usually with bots, there is that meta game of trying to pick a time when no one else is using it, and last time I did, @ocdb was sitting at 100% VP... so it had capacity to give out more than 10% but didn't.
For me, that raises the question of, do I take that Steem and power it up now and use it right away, or do I wait 7 days and get 10% more.
Obviously 10% is still much better than most other bots or there... I was just surprised that it was capped even when no one else was using it...
Because it's a guaranteed 10% profit and we can't tell when the next bid is going to come in. With other bots you could have several bids come in the same minute and your ROI will easily go to -15%. Also it's not meant to be used for promotion that's why there is a max bid amount which will be lowered over time as more unique bidders appear but it has been raised lately as we got a huge influx of delegations.
Thanks for the reply @acidyo.
Is there a reason you didn't try 30% or 20% ROI? That way it might be more popular (it's currently at 99.57% VP) and people that do want to upvote their Dtube or @exhaust posts that they spent a lot of time on would be more inclined to do so because that 20%/30% would cover the platform costs.
Then once popularity hits and VP starts to struggle, you could start to bring down the ROI until you hit equilibrium. Obviously it's not my bot and you're totally free to manage it however you see fit... it's just a shame to see all that VP just sitting there...
If it's currently set to 10% ROI, it's almost already feasible for @exhaust posts to "kinda-sorta" break even if they use it. @exhaust is currently set to a 20% beneficiary -- half of which stays with @exhaust, and the other half goes into the exercise reward pool.
Essentially, you could get your 10% back -- and would just have to work hard to claim the other 10%. I'll likely start doing this to promote my own exhaust posts, once I get off my ass and start running again. That is -- if I'm on whatever list that @ocdb requires. (which, at a quick glance -- it appears that I am...)
Thanks for the mention, brotha. This is intriguing. Could help promote and power up exhaust.
Anytime!
I think ocdb is more of a 'rewarding good content writers' rather than a promotion tool per se... I'm honestly not too worried about @exhaust getting anything I can throw at it, but it was more an example of stronger adoption for ocdb, and how some platforms require more effort than using Steemit (ie, running real far or producing a video) and therefore maybe should also be useful for ocdb whitelisted users.
But yes... it could definitely help power up exhaust 10% at a time.
It's not bad, good job!
Im not using the bot because im using Dapps and i dont know if its allowed!
There is any policy about dapps??
This is the first time I have heard of this idea. I like the whole concept, especially the future plans to have the funds used to help the entire community , at some time in the future!
You got a 75.46% upvote from @ocdb courtesy of @acidyo!
@ocdb is a non-profit bidbot for whitelisted Steemians, current max bid is 20 SBD and the respective amount in Steem.
Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our Discord channel for more information.
If you like what @ocd does, consider voting for ocd-witness through SteemConnect or on the Steemit Witnesses page. :)
Seeing how good @ocdb bid-bot is and not being on the whitelist XD
Unfortunately we can't cover beneficiary cuts from the dapps you use, so you wouldn't make a profit from buying ocdb votes. :(
Get back to me when you start writing content or use a dapp that takes less than 10% and we can see if you qualify for it. :)
I agree. I never thought about buying votes for streams. After thinking it out, I rarely write posts so you're right. I don't need a bid-bot now. Probably it was the instinct of being among the best. I will try to apply when I start writing more often :)