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STEEM has a number of bots around that can be used in various ways. When I saw minnowbooster, it looked like an interesting concept from the investment perspective. I decided to give it a try and fill a few orders. You can find out about it yourself from the various posts on the minnowbooster page.
I found three that were not crazy big and loaned out my Steem Power for a total of 230.625 STEEM. I guess STEEM has to round up for this because my total is actually 231.315 STEEM? I am not really sure why the number is so random. Oh well, just going with it.
Here are the three loans I did:
12 days ago | Your delegation for 1 weeks 65.0 SP to @livingwaters was completed.
11 days ago | Your delegation for 4 weeks 100.0 SP to @rtdcs was completed.
11 days ago | Your delegation for 4 weeks 62.625 SP to @farhanali was completed.
As you can see I did two delegations for 4 weeks and one for just a single week. The single one just completed so I wanted to use it as the example. I should have taken a screenshot of the market request when I filled it but I didn't. So you have to take my word on the payout. It was set to be 4 STEEM 1 STEEM for the 65 STEEM after the week was complete.
I started getting daily payouts from minnowbooster. I had some confusion here because I thought this was a dividend that I daily earned and then the total 4 STEEM 1 STEEM would be paid out at the end of the week. Mistake #1. The daily payout IS a portion of the total payout.
So for my 65 STEEM during the first week I received 0.129 STEEM per day.
Ok. The math isn't working like I thought but maybe I am wrong. Maybe it increases as the days progress or there is a big payout in the end. Well, daily I kept getting the 0.129 STEEM for that delegation for a total of 7 days.
In the end my 65 STEEM delegation through minnowbooster got me 0.903 STEEM.
~That is 3.097 STEEM less than the market delegation told me I would receive during the week of delegation. Not exactly what I thought I signed up for. Well, I am new to this and maybe I misread something or didn't read the fine print. I have been wrong before...~~
UPDATE: I was wrong on this! The 65 STEEM delegation had a payout of 1 STEEM which after a 10% fee to the delegator got me .903 STEEM. This actually changes things and makes this a great deal!
So at the end of the week of delegation I get a message from minnowbooster to remove my delegation. Great! Let's do this and then I should see it back in my account.
Ok. I clicked the link and removed the delegation and nothing happened. Well, something happened on the blockchain but not to my account. Again another oversight in this arrangement that could be completely my fault. It takes up to 7 days to get your SP back to your account after removing the delegation. Ugh... Ok. Maybe this explains the low starting payout and maybe the payout will continue over the next week to get me up to the 4 STEEM that I signed up for. No Luck. My next days payout only included the 2 other 4 week delegations I added as you can see below. (Again: I was wrong on the amount and I got 1 STEEM instead of 4 STEEM for my first delegation. All is well.)
I still have the other two delegations running the next few weeks and I am still waiting to get my 65SP back from the expired one. (I have to mention that this delay has NOTHING to do with minnowbooster and it can't control it.)
So that is my experience. Was it bad? No. Not necessarily. It gave me a way to earn some STEEM while loaning SP to others. It turns out that it is a great deal! The arrangement is confusing and there are a few details that I think people need to be aware of before attempting it. I also understand that I might be missing something. This was my first attempt and maybe I didn't quite understand all that was involved on the earning potential. I honestly would love feedback or clarification from anyone that has better knowledge than me on using minnowbooster or loaning SP.
