I'd really love to know how the rewards are calculated.
Looking at my most recent payout - please take a look :)
As you can see - this was my Contest - so I wanted to promote it. I spent 75.8 steem promoting it. The payout total was $43.434. Of course that is not ALL mine. We must divide into curator and author rewards. You can see it divded there.
My author rewards were to be divided 50/50, with 50% being powered up immediately into SP (but still, of course - the value of Steem) and the rest kept as liquid Steem and a tiny fraction as SBD, since SBD is not being printed right now.
When I look at that amount, I see $32.739 as the author rewards. I attempted to guess how much Steem that would be based on the current market. (The high point in the last 24 hours was $ 0.24713433, according to WorldCoinIndex.)
So - just assuming THAT high point (and not an average) that would be approximately $32.74 divided into Steem - right?
If the price was (let's even round up to $0.25) would that not be that I would be getting paid 130.96 steem? The 50/50 would be 65.48 into SP and 65.48 into Steem.
I asked a friend... Why was that not the amount of Steem that I received?
You can look here and see how much Steem I received, (and SP and the fractional amount of SBD)
So if I was only paid 40.603 Steem and 41.015 Steem (approximately 81.6 Steem), in order for that to equal $32.739... wouldn't Steem have needed to be paid out at approximately $0.40 cents?
And you can see that in the last 7 days - the HIGHEST Steem ever reached was at $0.32 , and the day before was even lower at $0.31.
I was told there was an average taken of 3.5 days (not sure if that is at the time of posting - or taken at the time of payout? Can anyone let me know?)
But - as I said - even if it was not the average - but even the highest price, that would still be $32.739, paid out at $0.32 cents per steem - meaning I would have gotten 102 Steem - not 81. And if it was the average price over a 3.5 day period - it would have been significantly more since Steem dropped into the low 20s.
As I stated earlier, paid out at the average of the last 3.5 days would be closer to $0.24 - and that would have meant 136 Steem.
TL/DR shortcut:
I was paid 41.015 SP, 40.603 Steem, and 0.163 SBD for an Author Payout of $32.739 (that is Total payout of $43.434 with curation rewards of $10.695 taken out) Can someone tell me how those numbers are calculated - seeing as they don't go with any of the current market value of Steem in the last 7 days?
Would either of you care to help on this? Appreciate the help!!!Thanks! This will be extremely helpful for us to teach our @welcomewagon trainees! I've been told to tag @gtg, @taskmaster4450, @crimsonclad, @themarkymark for the fastest and most accurate help! :)
The 3.5 days is done from the last 3.5 days. This is why your post USD value can still fluctuate with the price of Steem right up until payout.
Your method for working out the correct reward is right. It does have one error in the calculation though. The SBD is not worth 1 dollar at the moment only worth 60c with the lower value of the SBD it means you are not x'ing by 4 but by 2.5 when Steem and SBD is so low. If that does not make sense, DM me I will try explain this understanding more.
Okay...
You have the right math, just not the right numbers. :)
Hope this helps :) https://www.steemnow.com/ (upper right corner is median price of steem in the last 3.5 days) you will notice it here $0.4 because system is a bit messy in the moment. So instead of dividing it with average number (~ $0.25) you'll get the results with division of 0.4.
But that is not the right price.
The value of steem is not 40 cents. It's 23.5
That makes a huge difference in how we are being paid
I was not paid the amount that was quoted on my payout... But much much less.
Why is that?
It is not right. And it is for all of us, and we are trying to solve it as stated above, different witnesses are having different aproaches on this. Check this a bit more detailed post.
So, now looking at the link you dropped, you are saying that Steemit is not using current market prices at all, but has hardcoded something else for a payout calculation?
But.. that seems very wrong.
Like.... I don't want to publicly state how wrong that is. LOLOL
Because... I am not being paid what I should be. And neither is anyone else.
I'm a bit... Ummmmmm ... Lol
I mean.... How can this be fair? We are just being paid less? Without being paid what is true?
Same with me, since some weeks I understand nothing anymore ....
My account value on fundition:
My account value on steemit:
159 vs 278
Not sure why this isn't fixed fast?
If we would like to check our accounts, we should be able to do so easily.
That's the whole point of having a transparent, decentralized platform, no?
If we have to go to a central source for the answer... Is that not a contradiction?
It should be easily calculated and transparent for all to see.
This way, if there are discrepancies, we can seek out answers quickly and efficienctly.
If it was the other way around and payouts, were paying us MORE STEEM than the market rate, would it take 2-3 weeks to fix the issue? Also, not only that .. but what is being done to rectify the situation?
Because right now the people here are loyal Steemians and part of the reward of being here is we are stacking and storing Steem!!!
And now you're telling us our reward for being here and loyal... Is LESS rewards than what is being displayed?
You folks are the Witnesses I have voted for and or interacted with on the platform:
@jackmiller @enginewitty @crimsonclad @patrice @c0ff33a @markangeltrueman @pharesim @aggroed @lukestokes @gtg @anarcho-andrei
I am curious what the plan is going forward?
See my reply on marky's comment😎being worked on.
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You could always try hiding the $ symbol all together. :)
Steemit.com is a reference implementation of what's possible on the Steem blockchain. It's basically unmaintained by Steemit, Inc at this point. Maybe we should all start using other interfaces to the chain like Busy.org or Steempeak or eSteem Surfer desktop app? Long term, as things stand now, witnesses have little say in what Steemit, inc does with Steemit.com which they own and operate. That said, we are having discussions about possible future directions we as a community could take things, up to and including using Steemit.com as a way to promote other mechanisms for viewing Steem data.
or even better.... let's get rid of rewards completely and all work for free ;)
Money just corrupts everything anyway - right? Let's have the witnesses lead by example first! Anyone want to volunteer first? Anyone? Why expect to get paid for your time anyway?! Let's all do it for the love! hehehe
k - enough jokes for today! lol
Someone just told me that Steempeak seems to not be reporting the right rewards either. haven't checked - just literally got that in my DM) so... guess we are all just hoping that everything and everyone is trustworthy and honest. I mean - companies are always honest.
Sorry - had to slip that last joke in there. lol I actually love Steem, and love the community here. When I first came, I didn't give a rat's behind about how much my posts were making. It was all about connecting with people - and the connection was truly amazing. IS amazing.
However, I HAVE invested money in Steem since then. And part of the allure now is that I get to earn money for things that I love to do. So I do look at it as an investment opportunity, and so therefore - it needs to be transparent, reliable, and accurate. If it's not those things, it undermines the stability of the platform - and that is a dangerous thing.
hope that others can be." A bit of a sad statement, if you ask the Steemians that are still here, loyally supporting this platform with time, energy and money.This topic was brought up on the Witness chat today with @shadowspub, and it really seemed like the solution was "Steemit, the original front-end and still the most popular is no longer reliable. We
I appreciate your comment - and your humor, but I hope that when the laughter settles, the problem gets solved quickly. Thanks @lukestokes!
The problem is the blockchain is not currently using the price feeds from witnesses. It's complicated why this is the case, but basically, the blockchain is preventing the debt ratio to go above 10%.
It is now using supply to calculate the "median price". This is coming out to be around 40-41 cents (at the time I last checked).
market price directly from Bittrex to eliminate this problem.@therealwolf, @transisto, @yabapmatt, and I discussed this last week and changed our bots to use
The Steem Bot Tracker was also updated to reflect this change.
I do not believe all bots have changed their price algorithm to reflect this change. I can't tell you which ones do or do not adjust for this.
But the main one is paying out at a different price than what the true value is?
Isn't that ..wrong? I mean... If I was to sell (which I am not thinking) but the value that I was paid was not the value that is the true value.
I received significantly less steem than I should have.
Right?
You also have to keep in mind that SBD is only worth .60 cents so that is also being reflected as it is not pegged at a dollar. So when you typically see a payout, it's in sbd value which is less than usd value - unless you are on steempeak, then it gives you the stu value.
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Does anyone know why GINA continues to report wrong values also? or is she right and other wrong?
Does anyone know WHERE its being reported correctly? Is ANYONE using the actual value of Steem as reported on WorldCoinIndex?
So my suggestion, for more accurate payouts, check steempeak😉
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Great idea @enginewitty. Just a disappointment that steempeak can have this displayed accurately and not the original platform?
It's confusing and unnecessary. Should be fixed. If steempeak can do it .. Steemit should be able to.
It's bad for business to have numbers that don't add up readily, right?
For those that look at it as a business, yes, it's horrible. 😏
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LOL yes - well... investors will be looking at it as a business!
for the community - we are here for the community - but I know a lot of people who are community members looking to grow into minnows/ dolphins... and they like to project when that can happen by earning. (if they can also invest - awesome!)
but it helps to be able to project those milestones based on earnings. and earnings are by numbers and formulas (that are accurate)
but... if Steempeak is the alternative (and they are displaying correctly right?) then at least we have that. Seems a shame that Steemit will have to fade into the woodwork, but if it's "unmanned" i don't think anyone in their right mind would stick with it.
We will go to the places where its manned - like.... Steempeak! :) I've been impressed with them and just haven't had the right "nudge" to push me over there just yet.
Looks like that nudge came last night! LOLOL silver linings!!!
I mean... If I go purchase steem right now... I'm not paying $0.40 per Steem on block trades.
So why would Steemit pay me at $0.40....
That's a huge chunk of my payouts being withheld.
And....I'm guessing have been withheld.
I just noticed now because I was checking to see if it was a good investment for.me to promote wirh a bidbot at this time
It would have been, had I been paid the true price of Steem.
This is... Not really making sense to me.
Can you explain further?
Steemit (the website Steemit.com) is reporting based on the blockchain, which is reporting higher than it should be.
Some bots are using the blockchain feed and using this data to calculate votes inaccurately.
What you see on Steemit.com is all a UI issue, nothing is paying out incorrectly, it's just displaying incorrectly. But bid bots is a different story, they need to have an accurate price feed to calculate votes properly.
Anything you just got paid out on, happened 7 days or more ago when the problem was just being identified (It started happening around 2-3 weeks ago).
So the bottom line is...
We are getting paid as if Steem is worth 40 cents
But if we buy or sell Steem...the current market value is @23.5 cents now
Is that correct?
You are getting paid what the upvotes you receive are worth. The site is reporting that incorrectly.
So the payouts are inflated and the Steem value is inflated?
Yes but it is all a UI bug the amount you get isn’t broken. It is just displaying incorrect values.
I posted about this 6 days ago.
https://steemit.com/busy/@jeezzle/the-truth-about-bidbots
Some discrepancy apparently between the price feed and the amount listed.
As far as I can tell Bidbots are always a losing proposition right now.
I didn't lose... Gained 5 Steem in the end.
Which is fine.
I didn't see your post... (And cooking dinner now lol) but did you get any answers? Or any ETA on the solution?
I lost 16 on that particular post in question that took me something like 2 hours to write, not to mention the two hours to watch the movie and constantly pause to take notes so I guess I spent something like 5 hours total only to lose 16 Steem.
The answer I got was that some of the Bidbots are updating their system to show the correct price. However, just showing the price to me doesn't really seem to affect the real answer which is that we seem to be getting paid a lot less than we ought to be.
I mean, my upvote used to be worth something like $4.50 and now I have much more SP but it's only worth a quarter and you are telling me that it's not even really worth a quarter but more like $0.18 or $0.15.
Right.
For me, the market happened to.favor me because it went down while I was waiting for payout.... I guess????
But.... Still. How hard is it to fix this?
@enginewitty made a good point that steempeak is correctly displaying...
And I made another point on @anutu's comment that I won't repeat since it's there.
But just doesn't seem right.
And that really sucks that you lost 16 Steem.
Honestly. That sucks
Don't do drugs, and give granny her money for services rendered.
!tipuvote 0.15
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