During last week, the price of STEEM rose from $4.45 to above $6 (now slightly under). This will have a very interesting effect on the rewards.
You see, when Steemit is displaying rewards next to your posts, it doesn't use real USD (I explained in more detail here, on steem.supply), but in something I called STU (Steem Token Units). These units are a representation of the internal blockchain currency, which is called vests., and their value is calculated dynamically, by using a median STEEM price.
Well, this median price is "trailing" the current market price with about 3.5 days. Or, if you put it in Steem lingo, the actual value of STU is "pegged" to the median price of the last 3.5 days.
What happens when there are sudden increases or decreases of the market price of STEEM?
Well, inertia will happen. Meaning the STU values won't be affected immediately, but after around 3.5 days.
In the case of appreciation, you will see an increase in your rewards in about 3.5 days since the moment of appreciation, provided there aren't too many spikes. If the price is zig-zagging every day, then it wouldn't make much of a difference. But if there are more consistent ups (like the one we experienced this week) or downs (there will be some at some points, be warned) then the STU price will reflect that.
So, posts that were displaying $10 yesterday, may display $11 or $12 very soon, without any extra votes.
As always, enjoy it while it lasts. :)
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
Hmm that's interesting. I need to do some more reading and digging into all this so I can become more knowledgeable about why things like this happen.
I am enjoying it while it lasts. And long may it last ;-)
yeap, my 26$ post is now 29 and same thing happened for the other posts.
@dragosroua I hope you never have to SELL any STEEM in the Future like you may have done a year ago at .16. May all you do Be Fruitful and all of your Future Abundant !!
Yeah but if the goal is to get as much steem as possible in the internal market and power up, I don't think the price action will make much of a difference,in fact maybe SBD will fall below steem.
My Strategy is totally different: Power Down, Get SBD as much as I can and use it as fuel for Upvoting Bidding BOTS. If I play right, I get almost the same amount SBD I am gaming, and getting some SP at very low cost
#Upvote Bidding Votes is being used in different games: Some for Rapping the Reward Pool, others for Marketing, and myself for getting SP at lower cost, while getting some free marketing.
Thou shalt not power down !!
I guess I will do sometimes the same thing but without powering down. I am trying to accumulate as much SP as I can so there is no point in selling it.
Our estimated account value likes to climb along with our rewards during times like these as well. It's too bad that number wasn't updated more often.... anyway, there's a little added oomph to that vote today. A tip, because I really like the steem supply tool. Thanks for that one.
Thank you very much, appreciate your support :)
It's an interesting concept, is there a reason for the lag? I wonder if it is possible to game the system so to speak. Obviously it is impossible to know when markets will go up or down, but trends can give you a good indication of where the price is headed.
This makes sense now. I saw the value go from $70 to $148 a couple of weeks ago without having done anything and I was like wow, Steem is wonderful! :D
Hi Dragos!
SteemNow implements it in a real-time chart:
Would be great to also have it directly on the steem.suply, so that it gets visible to more people. What do you think?
The value is all academic until you want to take it out. I'm still powering up most of mine. I think we will look back on the current price and smile at our naivety in a couple of years
I like how you put it, "academic". As for smiling in a couple of years at our current naivety, well, I'm 110% with you on this one. I'm already smiling at my naivety from one year ago, when I sold some STEEM when it was $0.16. I had to, but that's another story.
I feel not remorse in selling STEEM as I have been used for missing the bus almost every time. Yesterday I burned 20 STEEM and bought 200 Cardano. And within 7 days, I will do exactly the same
Steemit to me, is not only a way of life, but also a space worm hole that takes me to the Crypto Dimension of the rest of virtual currencies.
I've never been into trading, but I watch the prices out of interest. It still seems to be Korea driving the rise
Thanks for admitting... I'm kinda forming a listicle on 'wrong' types of actions looked by the perspective of time...
Yes I knew about this rule and am expecting increase in rewards in my post. In fact I can already see the increase. However, I thought that the average was for the last 7 days instead of 3.5 days. Was it always like that or was it changed from 7 to 3.5 days at some hard fork?
The display of the median price is tied to condenser (or the UI), not to the blockchain. In the blockchain, you get your rewards as SBD. So the display is not part of consensus, hence, no subject to a hardfork. It was a change in Condenser, but I can't remember when.
Once again, The Teacher throwing light into darkness. Thanks for your brilliant input and explanation. Today, I have walked another step in the Steemit Road to Rome.
:)))))
Noticed the bump up as well. I've finally analysed my performance with a detailed report on steem.supply.
For some reasons I find it a bit more organized by steem.world..but I could keep using both to get deeper impressions.
Enjoy a great day out there! :)
Thanks and likewise :)
Thanks man, keep it up!Hey @dragosroua I'm really thankful to you that every time you share something amazing for all of us. I was a bit worry regarding rewards when suddenly increase / decrese. I wanted to now about this query and thanks God you solve this issue.
You provide a lot of utility to the steem platform.
I am really interested in how you made the steem rewards steem.supply page.
It is a very good website to understand rewards on this platform. I want to know how you did it.
I will vote you for witness.
It's written in PHP, with Code Igniter and a small PHP library, called php-steem-tools.
But you missed a key component: BRAINs & Dedication
:)))
Hope we keep seeing the price of steem rising. This is great for steemians and for the growth of steemit. Though it's not realistic as correlation will set in and FUD.
Following you link to the steem.supply there was something that took all my attention: a witness. Please can I ask You what is a witness in steemit. Thanks in advance.Hi @dragosroua!
good sentence sir.
OMG,
It feels great to read your post.
Thanks.
I was laughing when I heard that story today :D Especially coming from someone with the name 50 Cent... I do believe he's been a millionaire all along, though, hasn't he? I think he's a pretty good business man.
Good for him!
Thank you, @dragosroua, your posts have helped me a lot to understand the system. I didn't have a clue, why the amounts of reward are changing all the time, and I found one of your previous posts which made it clear. Now this gives me more better understanding. Although the existence of STU is still a bit foggy, but I do appreciate your efforts to make it clear for us.
Median is not the same as Mean. If it was the Median of the previous 3.5 days and we had a big move up that held, then the Median would jump after about 1.75 days. Are you sure it isn't the Median of 7 days, which would mean the jump happens at 3.5 as you suggest.
If it was using the Mean (Average) then it would be a much smoother ride up (and down)
It's the median over 3.5 days. You're correct though, saying that the price will adjust in 3.5 days is imprecise
yes, maybe SBD will fall below steem. hope hope hope
Why do you hope for this ?
@dragosroua: Thanks for the explanation. I had seen the variations on Posts´STU Data but I had no idea of what the formula was. Now I know it is the Median. But since my head runs on averages, then I will use average 3.5 to make sense of trending up or down numbers in STU.
Once again I will ask you to reconsider the presentation of Weekly Posts/Comments Cash Flow in your Steem.Supply. To me the toggle must be first on STU and no in USD since USD is never used in making calculation, except if you only are thinking in terms of FIAT.
To me, thinking TSU is much stronger and really point the road to where I shall improve. I guess my current Weekly TSU Cash Flow is running at about 83.3, up from my previous 72. But now, thanks to your explanation I know I have done nothing. I am only being impacted by the 3.5 Median
I challenge everyone to think in terms of STU. Things will be much clear.
STU was borned when SBD broke the soft pegging to 1$, otherwise STU = $
And it was @dragosroua who pointed the issue of the soft pegging in a previous article.
What I know about calculation, the merit goes to @dragosroua and its steem.supply
I was wondering what is happening, so it rises or decreases after 3.5 days.
Thanks for this clear description.
I always wondered what are vests. Now I know, it is a unit derived from median price of Steem. Unfortunately the only post which was a hit for me cashed out in the big dip of 16th January. This is why it reduced from $32 to as low as $23.
ooooohhhhh.... I get cleverer with your posts xD
I rarely look at at the dollar amounts, I like to watch the SP rise... this tide that is raising all ships on Steemit is always fun though, lets just wait for that tsunami coming as well.
Steemit is sure amazing and loving the rising rewards !Sometimes it does feels good though while in case of decreasing rate of price sure does not seems cool !
So if they will display 11 or 12$, then people will get the additional 1 or 2 $ in SBD and SP also? I mean if it is displayed more, then the people are awarded more for the same votes? That is again too good to be true :))
@dragosroua is that what the chart on steem.supply shows? The fluctuating price of rewards? Thanks.
It is time for steem to rise. I hope it moons soon :)
Steemains be like Yayyyy !!!