Steem reward manager : Conversion update

in utopian-io •  5 months ago

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Steem reward manager is a bot to automatically redeem your rewards, and if you get sbd, convert it to steem. And now much more ! But I won't spoil the new features.

It supports multiple accounts so you can manage as many as you want.

I created it because it was annoying to do the same things over and over again.

For more infos you can find the original post here : https://steemit.com/utopian-io/@howo/introducing-the-steem-reward-manager

You can find the code on github : https://github.com/drov0/Steem-reward-manager

It's been three months since the last update, so what happened ?

The bot is still running smoothly with almost no bugs but I noticed a few issues :

  • The bot will always convert the sbd at market price, which may be a bad rate.
  • Fairly often the market will fill your order with existing orders which won't match you perfectly so you'll often recieve some extra steem. Which is then not powered up.
  • If the rpc node fails at the moment I place an order, the sbd just won't be converted
  • If someone sends me sbd/steem I have to power it up manually

So with that in mind I got to work

New Feature : Maximum conversion rate

The config file now has a new line :

"max_ratio" : 1.3,

this means that you won't sell any lower than 1.3 sbd = 1 steem.

This is pretty straightforward. and solves the bad trade problem

New Feature : Automatic conversion to sbd and power up

To me the ideal wallet is like this :

0 steem, x sp, 0 sbd, x steem/sbd in savings

Nothing liquid because if someone breaches my account, I'll loose all my money instantly, whereas I'm sure to notice if the savings account is being opened and I can react. Or powered up, in my case I power up everything because I believe in STEEM.

Now the reward manager can be set to automatically convert all SBD to steem with this option

"always_convert" : true,

And once you've converted that money, I've put another option to power up all the steem that you have/recieve on your account :

"always_powerup" : true

So the new configuration file is like this :

"howo" : {
    "wif":"activewif",
    "powerup" : true,
    "max_ratio" : 1.3,
    "always_convert" : true,
    "always_powerup" : true
},
  "account2" : {
    "wif":"activewif",
    "powerup" : true,
      "max_ratio" : 1.3,
      "always_convert" : true,
      "always_powerup" : false
}// etc

wif : your active private key
powerup : power up your claimed rewards or not (true or false)
max_ratio : the maximum sbd/steem ratio.
always_convert : Always convert all the sbd to steem.
always_powerup : Always powerup all the steem.

You may think that powerup and always_powerup are the same thing but always_powerup means it'll power up all the liquid steem that you have all the time, whereas powerup will only power up your author rewards.

But yes, if both are set to true they are redundant, but this won't cause a conflict as it's handled in the code.

You can see why here : https://github.com/drov0/Steem-reward-manager/blob/master/redeemer.js#L82
First we convert the sbd to steem, then we power it up and then we claim the rewards.

What do you think is a good max_ratio ? I put 1.3 but I'm not sure myself.

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Nice update.

Perhaps 1.3 is a little high, although it depends what the aims are. Perhaps it could use a percentage above/below the moving average instead of the current ratio, say 20% above the moving average?

AGX has the charts for this going out daily. - https://steemit.com/agx/@agx/agx-2018-05-16

·

Well when I was testing the price was at around 1.22 and I wanted my code to go through so I set 1.3, but yeah It's high, I might go down a notch to like 1.25.

The moving average is a good idea, I'll look into it if I get the time :)

Power up Steem maybe is the top security design in the system. And I would say keep the least liquid STEEM/SBD is a wise decision. I myself keep a little portion just for some minor operation.

·

Well savings is the best security system, because when you power up you basically don't have liquid money to use anymore. But I see your point

What do you think is a good max_ratio?


if for 1 SBD you get < 0.95 STEEM, the ratio is negative.
if for 1 SBD you get > 0.95 and < 1.05 STEEM, the ratio is neutral.
if for 1 SBD you get > 1.05 STEEM, the ratio is positive.


So I will put it on 1.05, ... just my 5 cents...

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As you can see, the current ratio is 0.830 so that's a negative ratio and we should keep the SBD's. You can find this ratio on steem.supply.

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I think, you should calculate SBD USD / STEEM USD.

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Your analysis is correct but the ratio is defined the other way around, if you put 1.05 it means that your max ratio is 1.05 sbd for 1 steem. Not 1.05 steem for 1 sbd.

·
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Yep, I follow your lead, put in 1.00... let's see what happends...

fingerscrossed

Woooooooooooooooooooooot!!!

Thank you so very much, this update has exactly all features that I was missing. Youre my super hero!!!

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Thank you for your interest in the project :D

Totally clever! This should be baked into Steemit.com

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Thanks :D

What is good for me steem or SBD i am searching for this issue but i donot solve beacuse market rate up and down that's why i confused

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·

You need to setup a server and actually run it as a service on it.

I suggest you look up "how to run a nodejs program"

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