What does the Hive Payout Rewards actually indicate?
There is probably a post somewhere that explains it better, but for now I want to focus on the confusing part. I am talking about the Hive Payouts for posts and comments. When you make a post you can see the potential and realized payouts for posts. We know that the rewards are split up 50/50 on Hive: the author and the curators both get half of the payouts. So far so good. It's also important to know that Hive's inflation of around 6-7% per year makes up the reward pool. This means that the more people blog or comment, the less everyone gets, since more people are tapping into the reward pool. It is actually a really great idea to produce content when Hive's price is low, since price and activity on chain are directly correlated. In other words, you will receive a greater proportion of the reward pool when Hive's price is low since there are less people getting rewards.
Now the confusing part. When you look at your blog you can see the potential payout for posts less than 7 days old (top example) and for posts that are older (bottom example).
This is actually rather clear: for me this would mean that the post "BTC on Track to 35-48k" would receive 6.266 Hive with half of that going to me as the author. For the post "Last chance for HIVE/BTC" I can see the total Hive rewards was 7.832 with 3.928 going to me as the author.
But when I check my wallet this does not add up at all. The rewards that I (and everyone) is receiving is much higher than that.
You can see that the rewards are around 209%-215% higher than what is shown in the preview! I am sure that there is a good answer for this, but the question I have: why isn't the potential and actual payout displayed to more closely represent the actual payout?
Looking at the payout value on posts does not mean anything (again, I might be wrong). The only thing that you could do is add around 50% to that number which would give you around the actual realized payout.
So why do frontends display the payout so confusingly? @peakd @ecency
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You confused HIVE and HBD as one calculation. They're separate in calculation. The potential payout is indicated in dollars. For example, the potential payout is 7.832. That's in dollars. Expected that you'll get 50% or 3.916 dollars. After 7 days, you get 1.964 HBD + 6.055 HP. That's because 50% of 3.916 is 1.958. You get 50% as HBD and the conversion factor from HBD to USD is probably 0.9969 at the time of the payout. The remaining 50% of 3.916 is given to you as HP. That's calculated as 1.958/0.3234 = 6.055 HP. The 50% of your author rewards in dollars should be divided by the conversion rate of USD to HIVE.
I could be wrong in the conversion rates, but that's at least very near to the amounts indicated in the display and the amounts you receive as HBD and HP.
Edit: Discrepancies can only be expected when there's a big and sudden change in the market price of HIVE. But even with the abrupt change in the price, the discrepancy should be very small since the calculations of the internal price is the average of 3.5 days market price.
thank you! I knew there should be an easy explanation for it.
But that's exactly the confusion. It clearly says "Hive" rewards and we also have the hive symbol. It should say "Dollar" rewards instead.
True! Don't know with them.
@asgarth @peakd Would it be possible to indicate the rewards in $?
We considered this in the past but discarded other options as none of them was 100% accurate.
hey, thanks for replying. I think it would help a lot and would be much less confusing if we didn't see the Hive symbol and the text "Hive rewards" in the payouts since it is clearly not showing anything Hive related. In my opinion you should either keep it like that but then change the value so it more accurately displays the Hive value or change the symbol to $ and the text to dollar and keep the value as it is. As long as it says somewhere that this is a potential payout reward and not 100% accurate I think we are fine and it would really add clarity
When we evaluated that solution in the past turned out new users expected to actually get USD as rewards from their post. Also they expected to get the whole amount reported under their post.
What they actually get is quite different (and not the whole payout as there is the curators part). "Hive Rewards" because you only get Hive related tokens as reward for your posts.
okay interesting, I would have expected people to understand that they get Hive. Maybe you guys could make another poll in the future to see if things have shifted
Ecency has option to change the payout in ither currency also.
You can check the calculations with change of currency in ecency
The preview is in dollars, not in Hive. I guess that's the main difference...
yes that's the confusion 👌, but the frontends are then not displaying that correctly
That could be better for sure! All in all, Hive is quite difficult to understand anyway...
i think it might be a glitch, but as long as you did your calculation and it added up, then i guess everything is in order. last year i had a post from 2021 stay on my payout list for a year, until it got to the particular date it was supposed to pay out, the difference was just the year, but after the date, it left my payout list. for instance, my payout was supposed to be october 21 2021, but in 2022 it was in my payout, until october 21 2022.
whaaat, that's not good. You should probably report that to one of the witnesses if you have time
well, its in the past, i felt it was just a minor glitch
Im new, and tomorrow will be my first payout, let's see what happens 😀
I never paid close attention to this before. I'm sure the backend guys can help explain it from their perspective as well, but I'm gonna throw it out there that the increase in the actual payout in comparison to the preview is because of the curators' HP stake fluctuating, with a general trend of increasing upward.
Or, simply, and I'm willing to bet on this, it could be that the HBD part of the payout isn't taken into account when displaying the preview. So that knocks the difference down to %100, which makes sense.
apparently the payouts are in $ and should be indicated as such by the frontends
@tipu curate
Upvoted 👌 (Mana: 50/70) Liquid rewards.