My Experience With MinnowBooster Delegation by daynewright

View this thread on steempeak.com
· @daynewright · (edited)
$18.45
My Experience With MinnowBooster Delegation
![Screen Shot 2017-07-21 at 11.52.45 PM.png](https://steemitimages.com/DQmQq8J4D5dLVgEK6MJZEJUvXT3toYAChwma4vXZrtT7oG7/Screen%20Shot%202017-07-21%20at%2011.52.45%20PM.png)

__[ @bulleth commented and pointed out a few errors I had in my post. _(I told you I might have missed something!)_  I have updated them and it turns out to be an awesome deal! I do mention a few clarifications that I missed my first go.  Bottom line: I would do this again.  ☺️]__

# Delegating STEEM POWER! πŸš€

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](https://steemit.com/@minnowbooster). 

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. 
![Screen Shot 2017-07-21 at 11.56.15 PM.png](https://steemitimages.com/DQmZ6Wnbc5UFoc2Qegs2BLoffgnhjHqnCuA9ZMz5tq71xnV/Screen%20Shot%202017-07-21%20at%2011.56.15%20PM.png)

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.  

# Getting The Payouts! πŸ’°

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. 

![Screen Shot 2017-07-22 at 12.08.33 AM.png](https://steemitimages.com/DQmTCTQazxg7E5wcPVwiTHWmktFPASUXxgdh6MAUaW2eotu/Screen%20Shot%202017-07-22%20at%2012.08.33%20AM.png)

## I Must Have Missed The Fine Print

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.

![Screen Shot 2017-07-22 at 12.14.00 AM.png](https://steemitimages.com/DQmTJyetvouJNA5RTMrQvVmHcH8yXy5QXBxXUgeFZ1koF6T/Screen%20Shot%202017-07-22%20at%2012.14.00%20AM.png)

## Be Aware of The 7 Day Delay πŸ•‘

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.)_

![Screen Shot 2017-07-22 at 12.20.03 AM.png](https://steemitimages.com/DQmX37Dw7ruavrzRPQRmzq4avJq4z8rbxjPC7wCEy6e6t49/Screen%20Shot%202017-07-22%20at%2012.20.03%20AM.png)

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.)_

<hr/>

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.
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@roky ·
Nice post
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@daynewright ·
Thanks! πŸ‘
πŸ‘  
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@roky ·
☺
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@revealmoney ·
There is no bad experience ever, Either you Earn or you Learn !!
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@daynewright ·
There is definitely power in knowledge. πŸŽ“
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@robertdurst10 ·
LOL I have become very aware of the 7 day delay :(((
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@daynewright ·
$0.09
Yeah.  I still don't quite understand the purpose of it. Is it to discourage delegating your Steem to others?
πŸ‘  
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vote details (1)
@bulleth ·
It is to prevent double voting with the same SP. The cooldown period is equal to the rewards pool window, making it impossible to upvote your post, delegate to a second account and then upvote the same post with the same SP :)
πŸ‘  
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@robertdurst10 ·
Yep. Mostly so you don't delegate, then undelegate continuously.
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@borkuntilyoudie ·
Upbork for you!
## BORK! BORK!
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@daynewright ·
Long live the upbork! πŸŽ‰
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@elautomatico ·
So , you did not get the 4 STM?
Her is a tool to track when delegated SP returns to your account in case you want to use it 
https://steemit.com/delegating/@elautomatico/delebot-reports-20170721-beta
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@daynewright ·
Actually I got my payouts confused and got 1 STEEM for my 65SP delegation.  I updated the post as well.   A learning experience for sure. :)
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@bulleth · (edited)
$0.12
Hi Dayne, Bulleth here from MinnowBooster support. Thanks for the feedback, much appreciated.

I think what's happened on your payout surprise, is you've mixed up the return on your 65 SP/1 week contract with the return on your 100 SP/4 week contract. Using default pricing, it costs a user 1 Steem to rent 65SP for a single week. If they would like to rent for 4 weeks, it is a slightly better deal: they get 100 SP (instead of 65) at the same rate of 1 Steem per week. 

We also charge the deleagtor a 10% fee, this is why your return on the 1 week contract was ~ .90 Steem and your return on the standard 4 week contract, net of fees, will be ~3.6%. 

Hope that makes sense, we have taken your feedback on board and dev team are implementing changes to make everything a little clearer on the confirmation screen (including the 7 day cooldown).

Regards, 
Bulleth.

PS if you have any more questions you can find me on the [MinnowBooster discord server](https://discord.gg/2XgUdzy)
πŸ‘  
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vote details (1)
@daynewright ·
Thanks for the response! You might be right on the confusion of the amount of Steem for the delegation.  I tried to look back for the amount and I can no longer find it.   

In fact, the more I think about it I might have confused the payouts.  I am going to update my post to reflect that.
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@daynewright · (edited)
@bulleth I updated the post and thanks for commenting. It makes more sense now that I got the numbers right. :)  In fact,  **I just filled another order!** 
πŸ‘  
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vote details (1)
@bulleth ·
Thanks mate, that's awesome. It was a very balanced piece to begin with, but appreciate the edit anyway!

Great to have you back filling orders too XD
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@gunni55 ·
I have a question about the sending 10 steem to minnowbooster
I didn't know how that worked and then went on to a post and decided to upvote and to my surprise was a slider bar. I scrolled it down to just .06 on that vote. Then I went back to my wallet and say 650 sp in quotation marks.....
Now I am worried....!!!! did i make a mistake? I don't have but what is in there. will I owe anything of that that I use? will it just take it back in a week? I am not understanding how this works. Please let me know what I have done..... ????!!!!
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@minnowbooster ·
$0.18
@minnowbooster upvoted this post!
![@reggaemuffin got you a $1.86 @minnowbooster upgoat, nice!](http://minnowshares.net/upgoat/?user=reggaemuffin&receiver=daynewright&value=1.86&hash=732)
*@reggaemuffin got you a $1.86 @minnowbooster upgoat, nice! (Image: pixabay.com)*
---
[Want a boost? Click here to read more!](https://steemit.com/minnowbooster/@minnowbooster/introducing-minnowbooster-beta)
πŸ‘  , ,
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@orionsbelt ·
$0.13
<b>Interesting, i'd like to know how the leasers of sp are doing? I'll post my results soon!</b>
πŸ‘  ,
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@daynewright · (edited)
Awesome!!  I really want to know how people are using the STEEM they are getting delegated.
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@gunni55 ·
I am afraid to even upvote now. I paid 10 steem to minnowbooster and i got 650 sp .... do I have to pay that back if it gets used? Is it borrowed and then I owe more?
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@ehujra ·
$1.12
Very informative n juicy post thanks for sharing ur experience
πŸ‘  , ,
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@rtdcs ·
$1.25
Thanks to delegate me some SP:)

I wish you success!
πŸ‘  , ,
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@daynewright ·
Sure thing! You should post about your experience.
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@better-life-tips ·
Thanks bro great infrmation, now iΒ΄m trying
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@samstickkz ·
How do I use this
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@daynewright ·
@samstickkz:  You can check here for market orders to fill: https://www.minnowbooster.net/market 

If you find one you want to fill then go through the process on the site and part of your Steem Power will be delegated to that user.  Daily you will get a payout.
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@wegterfx · (edited)
I have a question how this SP delegation works. I gave 500 SP, for 4 weeks, with ARP 41%. now i am getting 0.643 steem per day. BUT, THE FEE was 20 SP. So, in my calculation  at the end 4 weeks, it may not payback the fee that was taken. The question is what is the  benefit out of leasing 500 SP after 4 weeks? Unless i miss understood the whole process, there is no gain to the leaser with small number of SP such as my example. I hope you got my question
πŸ‘  
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@daynewright ·
@wegterfx . You are getting .643 STEEM over the course of 28 days.  This totals to ~18.004 STEEM.  Currently minnowbooster gets about 10% which would put you right on track.
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@wegterfx ·
"Currently minnowbooster gets about 10% which would put you right on track" would you elaborate what do you mean by that? am kind of new just want get it understand. Thank you.
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@gunni55 ·
I have a question about the sending 10 steem to minnowbooster
I didn't know how that worked and then went on to a post and decided to upvote and to my surprise was a slider bar. I scrolled it down to just .06 on that vote. Then I went back to my wallet and say 650 sp in quotation marks.....
Now I am worried....!!!! did i make a mistake? I don't have but what is in there. will I owe anything  of that that I use? will it just take it back in a week? I am not understanding how this works. Please let me know what I have done..... ????!!!!
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@daynewright · (edited)
All is well! 😎 

It sounds like you did an order for getting delegated SP to you.  That means you said _"Hey... I am willing to pay 10 STEEM for being able to have the power of 650 STEEM for 1 week."_

Minnowbooster said:  _"Sounds great!  Let put this request on the [market](https://www.minnowbooster.net/market)  I created and see if anyone that has 650 STEEM will let you borrow it for 1 week and I will give them the 10 STEEM for allowing you to use it."_

Lender (another Steem user): _"Cool! Someone is willing to give me 10 STEEM if I let them borrow 650 of my STEEM for 1 week.  That means that I won't be able to use it for that week but that is worth the return I get from them.  Sign me up!"_

<hr/>
So what has happened now??

- You paid 10 STEEM to get the power of 650 STEEM for 1 week.
- Now when you vote the STEEM community looks at you as having 650 STEEM and once you are over 500 you are able to set the percentage weight that you vote.  Before that you were voting 100% every time.
-  After 1 week is up the delegated STEEM will go back to the user that let you borrow it.
-  You can use it however you want until the week is up.
- You do not have to pay anything else.
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@gunni55 ·
so it is okay to use this on upvotes? I only forfeited the 10 steem?
How do they get their 650 sp back?
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@gunni55 ·
I just don't understand this.. I thought that I would earn it somehow over a period of time and get something, I didn't know they would loan me 650. To me a loan has to be repaid and I went into panic mode. I don't have 650 dollars
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@nickh725 ·
Thanks for sharing! I have been looking into whether or not minnowbooster delegation is a good idea. Thanks for the information!
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@livingwaters ·
$0.05
I'm sorry I missed this article @daynewritght. I've seen some good results with the minnowbooster delegation, and am getting ready to start another four weeks.
I hope to see more about your experiences.
πŸ‘  
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