I like to look at numbers and work out what they might mean. I am terrible at playing around with numbers though but for my intents and purposes, accuracy is not as important as the image it gives me.
Where is your head at?
This is the current reward pool:
This is what it was 2 days ago:
What that means is in the last 2 days, the reward pool has increased ~6 percent. However, it is supposedly normally hovering around ~750K STEEM which means in total the pool is ~30 percent fuller than normal. This is why all the post values are increasing in price and, the vote values are inflated as they need to be larger to drain the pool. 12 hours ago when I posted I mentioned this also and it was 982,903 STEEM in the pool which means it is growing almost 700 STEEM per hour.
Why the hell is my feed still running in slow motion??
Essentially, to bring the pool back into its normal range, everyone's votes are carrying about 30% extra weight behind them than they should at the 81c price. What this means is that every vote cast at the moment has the ability to draw 30% more from the pool than it normally would at that price.
What this means is that if under normal conditions a vote had a value of 10 dollars, it is currently around 13. This means that casting that vote distribute 3 dollar more from the pool. It will remain higher until the pool returns to its equilibrium point.
leaving curation out of it for simplicity (I told you it is the picture that matters, not accuracy):
A 10 dollar vote payout at 50/50 is: 5 SBD / ~6.25 STEEM
If converting the SBD on the internal market it will buy the same in STEEM making the post value 12.5 Steem. Easy.
But, the 13 dollar vote at 50/50 is 6.5 SBD / 8.125 STEEM
Again, the same can be bought internally making the post a 16.25 STEEM Post.
This means that a post gets almost 4 STEEM more or ~30 percent more STEEM.
So again... why the hell is my feed slow??
30% more Steem is on offer and people aren't posting. I don't mind, nor does anyone else who understands that the price of STEEM is irrelevant until you sell. Thos who are stackiing, this is a brilliant opportunity *especially since STEEM price is so low as it means that the extra SBD paid out on posts buys even more Steem.
Throwing votes and comment curation
I was at Steemworld.com and noticed this:
I have just gone over 40,000 votes cast on the platform which is pretty amazing really considering I am a manual caster. Part of the reason it is so high is because I vote on a lot of comments I receive which has created a bad habit for HF20.
I have never really worried too much about curation rewards, especially on comments so I would always vote as they came in if I could. What this meant was that that my curation portion of the vote would go to the author which I was happy with. Now though, some portion of the curation goes to the pool instead if voted before 15 minutes, not to the person who left a comment.
Out of habit, I keep forgetting and voting and although it goes back into the pool, I don't really like the idea of not being able to place that value myself and, the bots do not make this mistake which means they will have more to distribute amongst themselves. So, I have to try and remember to vote after the 15 minutes. What this means though is that I will take more curation on it and the author will get less value so when possible, I will increase my percentage a little when I think it is suitable to do so. That way, the comment still gets rewarded similar values to before.
Kick in the Bulls
The more I think about the possibilities that are potentially available through RCs combined with SMTs the more bullish I become on Steem as it allows for a the platform to not only scale but keep the costs for new users FREE once the infrastructure to do so is in place.
I have always suggested that people power up but this is perhaps more important for small accounts now than ever. The reason is that even though a new account might get free delegation, an old account might not and if one has been interacting here and extracting all, they might find their account marooned on an island without RCs. Buying Steem will of course fix that problem but the price might not be 80 cents at that time. Who knows though, it is part of the risk game.
In a month from today I should be arriving in Poland for the start of SteemFest and what I am very interested in doing is hearing what ideas the developers have on how they are going to utilize the Resource Credit system. I am also hoping that I might be able to corner one or two of them over a drink or a game of pool and suggest a few things they may have overlooked in their calculations.
As said, I ma not great with numbers but bigger picture and behavioral areas I do have some skills in from time to time that a more technical person might not consider as an important factor. Small changes and tweaks can make massive differences to both User Experience and perhaps more importantly for culture development, User Actions. Since the Dapps and communities are going to be major gateways, they need to think about these things before they open the gates.
We all have to remember that our actions here have an effect and going on the speed of my feed, so do our inactions. For me at least, as uncertain as the future of Steem may be, it has never looked brighter. Stop looking at the price for a little while and instead concentrate on the mechanics of the system a little more. Once you build a decent mental model, it is not very difficult to know where your efforts are required.
Taraz
[ a Steem original ]
Oh since I started writing the reward pool has gone up to this:
That is 767 more STEEM to distribute.
Well don't bother about those who are absent and focus on those who are here. We all have a choice afterall...lol
yep :)
I agree with Empress...why bother with the others? Wasn't it you who told me to focus on those who are active and forget the dead ones?
Here, have a small but inflated vote!
My non-expert low-value feedback here is that your feed is slow because there is a limit to how many times ordinary content creating Steemians can be confounded by something Steemit Inc does and still feel enthusiastic about plowing forward as if "nothing" happened. I'll leave it at that.
You don't keep going to a restaurant where they don't have what's on the menu half the time, and the food shows up cold some of the time, and the service is unpredictable. No matter HOW good the food is when it does show up, after a while you just stop going. And you stop recommending it to your friends.
Whatever great things Steemit and the Steem blockchain may "be" this place is sadly lacking in good user relations.
It is very interesting that YOU will be at SteemFest... as a community based and content creating member of Steemit, not as developer or crypto nut. I am very much looking forward to seeing what you learn when you actually get to look some of these people in the eye.
I don't know about the "behind the scenes stuff," but there seem to a lot of apologists here for the fact that Steemit seems to have wandered a long way from what the White Paper originally seemed to suggest it would become.
=^..^=
The HF was a clusterfuck but, it was still necessary in my opinion and will prove so in the next year or so I predict. It changes the way the accounts are able to be created and brought in which should hopefully 'almost by default' improve the experience and process as well as set clearer usage guidelines.
I am also not personally concerned about not sticking to the whitepaper (never read it) as the market itself has changed and when it was written, it couldn't foresee what the community would demand or how it would treat the platform. Adding the earning mechanism automatically changes the way people behave so it can't be compared to other social platforms. Adding that mechanism into a faceless, open, unconstrained community makes prediction worse, especially for people who might not be the most socially adept of animals.
I am definitely looking forward to meeting some of these people in person but as expected, a lot will be missing also. Public spaces are not where some people like to show their faces.
I still find this is the most fun game in town, largely because of the uncertainty about the future. I would be more concerned if things weren't in a bit of turmoil at this point because it would mean that they are 'sure' of a future they can't know. Blinded by confidence.
Hi Taraz. It is crazy and then people bitch that it's not fair etc. We can all see the values have all jumped up and it doesn't take a rocket scientist either. This place should be rocking.
I think the people who bitched were worried, because during the first week of HF20 they could almost no longer post or vote anymore, giving the impression that Steemit was only usable for people with lots of Steem Power. And to be fair: not a lot of info was given to lessen these worries. We might even have lost some people because of that. I think once people start noticing the possitive effects, they might start again being active on Steemit.
The real benefits are going to be seen when a lot of people start coming in and RC delegations are available.
You'd think but I am I guess for those who are here (and the bidbots) this will last a little longer :)
You should have waited for voting lol. I hope it last at least till Monday maybe Tuesday.
see... damn it!!
well I have noticed that my earnings has increased. my last four posts have earned above $2 which is a rarity for me, so I the resource credit thing might not have been totally bad after all. although I have slowed down a bit in terms of engagement because I am more conscious of my activities, but hoping to improve in the comings weeks
yeah, the earnings will start to fall back again as the pool starts to drain so enjoy it while it lasts :)
So, if a lot of people start posting/voting, would that mean that the reward pool goes down (because posts/votes have to be paid out) or that it would go up (since part of the votes go back to the pool)?
It would go down because more is drawn out from the vote than back in through curation return by a long way.
Related to you thoughts, I think the reason may be that many inactive accounts have left the auto voters on before 15 minutes which mean a larger number of rewards are going back to the pool. I would not be surprised many others still cannot get used to immediately upvoting comments as well!
yes that has an effect but not as large as the early autos are generally small and only the curation portion gets returned to the pool. I don't know how little or much effect they have though. The comment votes are an issue too :D
It is going a little nuts in rewards, I think we have all noticed it but posting more than once a day may likely result in divorce. I have to focus my attention somewhere else.. sometimes.
You still have a wife?! :D
Wow Friend it must be great to be able to attend a steemit event, I congratulate you. regrettably I am imprisoned in my country because the government has all the control of the dollars as well as the passports that do not give them to many people, and I am in the government records as an opponent of their regime they have me signed, in view of that, I almost do not have access to many things.
I heard that they are trying to balance it with crypto. Hopefully that helps a little but I don't hold my breath.
Good friend, the reality outside is the one that the government delinquents give to enterder outside to wash his face.
But the reality inside the country is another one is well known here in the country that the criminals and communists of the government are very intelligent for the bad. and they already know very well about the crypto, and they are managing a very good platform only for the benefit of the military and high government gerarchs. They need to wash all the dollars that are stolen, and very well supported by China and Russia. Several governments of Latin America know how scoundrelly the rulers of Venezuela are for that reason and many more do not support this regime. But as China knows the large amount of mineral resource we have if they support and combine to continue supporting this type of government.
I quote again I am a very tough opponent in my country and for that reason they have me very signed in Unirversidad where I work as well as in the urbanization where I live, many times I go out in fear that something happens to me or my family. I'm sorry to have to tell you this and that's why I apologize.
'While the villagers slept, the Workmen built a Palace for the storm'
Your post kinda reminded me of this old proverb.
I'll try and put more time to this
Upvoted.
I don't know why other people aren't posting. I know I'm posting about as much as I usually post (about once a week because that's what I can manage and usually about when I have something worth posting about).
You're going to write about your conversations with any devs you
corner and brutally interrogateconverse casually with over beer and pool right :D