In relation to the post by @stealthgoat.
@opaulo you were ripped off.
Currently 1SBD = 7 Dollars
You could have sold 35 SBD @ 7 Dollars each for 245 Dollars
Your post needs to make more than this to make the purchase financially rewarding.
In relation to the post by @stealthgoat.
@opaulo you were ripped off.
Currently 1SBD = 7 Dollars
You could have sold 35 SBD @ 7 Dollars each for 245 Dollars
Your post needs to make more than this to make the purchase financially rewarding.
Thanks for raising this @branhmusic. Maybe you or someone else can clarify. I am experimenting in an attempt to understand the payouts as displayed on posts. I don't think the dollar amounts showing on posts is USD. Here's my logic:
Let's take a look at a random post that has recently paid out (10 days old as I write this):
https://steemit.com/vlog/@mrviquez/daily-crypto-trading-volume-matches-the-daily-volume-on-the-ny-stock-exchange-this-only-the-start-are-you-ready-for-the-flood
The payout right now is showing as $91.49. What is unclear to me is what "$91.49" means. Is that USD? SBD? Something else? I think it is something else (a combination of SBD and SP maybe).
The "total_payout_value" for this post as found on steemd, is the amount the author receives (usually split 50/50 between SBD and SP). The author's cut for this post is "71.886 SBD" as reported on steemd (75% of "$91.49"). Ok, so let's looks at the actual payout. At the time I wrote this comment, the payout was 4 pages into the author's steemd listing. Here is the exact text on this "$91.49" payout (of which the author gets "71.886 SBD"):
The author's 75% of "$91.49" paid out 35.943 SBD and 11.082 SP. In other words "$91.49" x 75% = 35.943 SBD + 11.082 SP.
At the current rate, 35.943 SBD is equivalent to 35.943 x 7.50 = $270 (US dollars, that is). So, if we ignore the value of the SP (11.082 SP), the "$91.49" showing on the post actually paid out $270 USD equivalent to the author.
Unless I have completely misunderstood (a possibility), I am baffled by the payouts being displayed on steemit posts. If they are not USD, then why display the $ sign at all? When SBD was around 1 US dollar, this made more sense, but it's confusing now.
It would be better if estimated SBD and SP were displayed on each post, NOT some value with a $ sign that is not dollars.
Please, tell me where I have gone wrong here.
Bottom Line:
The dollar amount you see on posts is NOT in US dollars. It is way out of whack when the USD and the SBD are not at par.
I am going to return to this post in one week on Jan 7 and give you an update on my actual payout on this post in SBD and SP. Assuming no more big upvotes and barring wild swings in the value of SBD, it's going to be a lot more than the $85 US that seems to be pending right now.
And maybe I will be wrong. Stay tuned. Return in one week.
I was right. Final Payout was 75.529 SBD and 11.663 SP. Almost all of that was from the 35 SBD upgoat. Not bad.