So since i'm still new to Hive, I have a few questions that I wanted to ask the community here. Any answers or clarifications would really help me.
The first question I had was relating to this post. It seems like I had earned $0.23 on that post which at the time of writing is about $0.31. So technically I should be receiving a total of about 0.74 Hive tokens but in the breakdown below I see that the breakdown is 0.11 HBD and 0.36 HP. Are HBD and HP equal to 1 Hive? Is any part of my earning going towards the Hive blockchain or do I keep 100% of the $0.23 that I keep?
Also the second thing is, with respect to my wallet balance.
So the only thing I understand is that my rewards will be split 50% between 2 tokens HBD and HP as I have chosen below.
I can see HBD's value on CoinGecko but I can't find the value of HP anywhere. So i'm not sure how this is working. If I use 100% of my earnings to power up, do I only earn only HP? Will that also increase my earning potential in the future?
Also, only when some people vote on my post, I see a dollar amount associated but not others. Why is that so? What determines this and who vote gives me $ and whose doesn't?
Any clarification on this would be appreciated.
Hi there, first of all, welcome to Hive!
There is a little bit of learning curve here. I will try to simplify the answer.
Largely, you can ignore the "Pending Payout Amount" calculation. The blockchain tries to calculate the post rewards value in USD terms but it is not 100% accurate. It is therefore more important to look at the HBD and HP values.
HBD are called Hive-backed Dollars. It is designed with the objective to be pegged 1 HBD = 1 USD. However, the peg is off from time to time and not much effort is being put in to keep it stable. HP means Hive Power. It is basically HIVE powered up or staked with the blockchain. You can do a Power Down or unstaking anytime, but it takes 13 weeks to fully power down. However, every week you will get 1/13 of the powered down HP converted to HIVE.
Finally, your post rewards are split 50/50. Half to you and half to the curators (the voters). Hence, for your post in the screenshot, if no further votes were casted, you are likely to be paid about 0.055 HBD and 0.18 HP when you receive your rewards in a few days. There are further concepts as to how much of your rewards are in HBD and how much in HP but I don't think you have to worry about that for now.
Hope this helps. Feel free to hit me up if you need more assistance
Thank you for your response. That helps a lot with my questions!
When you post, you can choose to earn in two different ways:
HBD are Hive-Backed Dollars. They can be sold on the market (usually trades between 1$ and 0.95$) or can be converted for 1$ worth of HIVE, which is a process that takes 3.5 days.
HP is Hive Power. Hive Power is something you get when you "power up" HIVE. "Power up" just means staking. So when you stake 1 HIVE, you get 1 Hive Power (HP). Therefore 1 HP = 1 HIVE in terms of market price. Hive Power cannot be unstaked instantly. To unstake, you need to start a "power down" which takes 13 weeks to complete. Each week you'll receive 1/13th of the amount of HP you decided to power down.
I would recommend choosing the second option, 50% HP and 50% HBD, because you'll get 50% in liquid rewards which you can sell instantly. If you don't want to sell, you can buy HIVE with the earned HBD and power up. Both methods pay the exact same amount in terms of USD.
The blockchain does not take a fee, you get paid the full dollar amount that you saw below your post. However, the dollar amount can change for up to 7 days. After 7 days, you get paid whatever is written.
The dollars earned on posts come from the inflation of HIVE. Newly created HIVE are distributed to content creators and curators (block producers and HP holders as well, but much less). The more upvotes a post receives, the higher the percentage of the total inflation the post receives. The "reward pool" is what we call the HIVE that is going to be distributed to posts.
The more HP you have, the more your vote counts in determining where the funds in the reward pool go. For instance, if someone has 10,000 HP and his vote pays out 1$ to a post when he upvotes it, this means that someone who owns 20,000 HP will have an upvote worth 2$.
Hope I answered all of your questions.
Thank you for your resonse! That helps a lot.
One more clarification is, if on my blog I have 3 posts which earned $1 each, would I see $3 total in my Hive wallet or would the rewards be distributed between me and the participants or blockchain? That part is still not clear to me.
Also after how many days do I receive the full reward? I see some rewards come through from time to time.
Sure, if you have more questions feel free to ask.
You get the rewards 7 days after the post.
For example, consider the case where one has posted three times, once on the 10th of June, once on the 11th of June, and once on the 12th of June, and has 1$ worth of rewards on each post.
This means that he will receive 1$ worth of rewards on the 17th of June, 1$ on the 18th and 1$ on the 19th. The rewards shown on someone's post belong only to that person, they won't be shared.
During the 7 days, upvotes on the post raise the rewards and downvotes on the post decrease the rewards.
Sometimes, you do not see a dollar amount when somebody upvotes because the reward is too small, smaller than 0.01$. And the frontend (website) does not show it. But the reward always exists in the blockchain code, even if it is extremely small, and will be sent to you after 7 days. However, when someone upvotes you with a big upvote, you can see the reward because the frontend shows it.
The size of the reward given by the upvote depends on the amount of Hive power held by that user. For example, a user with 10,000 HP has an upvote that gives a reward of 1$. A user with 20,000 HP has an upvote that gives a reward of 2$. And 30,000 HP gives 3$. etc... Those numbers are not correct, but they scale linearly after a certain amount of HP.
So, the more Hive someone stakes, the more influence he gains on the network, since he can determine which posts receive the newly created HIVE by inflation.
That makes perfect sense! Thanks for the answer!
Also, when some people upvote me, I get a $ amount but when some other people do it, I don't. Never quite understood how this works.
sorry about the mix-up. first of all, the value of HBD is above that of Hive . while your Hive token and hive power are the same thing.
now on a post if u earn, it will be split into hbd and hp on a 50/50 cut.
the amount given to hbd might be slightly lower to hp but they are of the same value.
your hp value is also the value of hive . infact your hp is your hive that is already been powered up.
I hope that made sense