Hello everybody,
we received questions about how high the vote by @smartmarket would be if X SBD / STEEM were transferred - and instead of answering this every time individually, we thought it would be better to write a post about it.
So, here we go.
Vote Calculation
First of all, @smartmarket is allowing users on steem to sell their votes for a high profit and other users can buy these votes with SBD & STEEM and also receive a profit.
When a user transfers an amount of SBD or STEEM to @smartmarket - the first thing we do is to calculate the wanted value. Which means:
We first convert the amount to SBD if it was STEEM. For this, we take the current Price on Bittrex.
At the time of writing this post - SBD is worth 9.5 USD and STEEM is worth 3.2 USD.
So if you send 5 STEEM, then the SBD converted value would be 1.67 SBD.
After that, we calculate the wanted value - we take in this case 1.67 SBD * 2.3 (our ratio) which results in a 3.8$ wanted value.
The next step is to find the right voter and when we found him/her, then we vote with 3.8$.
How much Profit do you make
A 3.8$ value would result in 2.85$ after curation and then in:
- 2.14 SBD
- 0.713 STEEMPOWER
Which converted in USD is: 22.612 USD
The USD amount that was paid for the upvote is 16 USD
The total profit is: 6.612 USD
But ...
No Spam allowed
This profit is awesome, but we don't want to allow spammers to make money from this.
That's why we have improved our algorithm to detect spam.
If you find your votes (as a vote-seller) cast on posts that you are not okay with, then please tell us on our discord - link is at the bottom of this post.
I hope we explained everything so that you understand our calculation. If you still have questions, please tell us in the comments below or join our discord.
What does smartsteem offer?
Bid-Bot through smartsteem - send URL as MEMO to @smartsteem - votes are every 2.4h - both SBD & STEEM accepted - check on bottracker for current status.
Buy Instant-Upvotes through smartmarket - profit guaranteed - send URL as MEMO to @smartmarket - both SBD & STEEM accepted.
Sell your Votes with @smartmarket and earn up to 98% of your voting-power as revenue - you can enable it here: https://smartsteem.com/features
Delegate STEEMPOWER to @smartsteem and earn profit-shares of the bid-bot proportionate to your delegated amount. We pay out 90% of our profits! Go to https://smartsteem.com/sponsors and check out this post: https://steemit.com/steem/@smartsteem/guide-how-to-delegate-to-smartsteem-and-earn-profit-shares
Our amazing Sponsors who receive 90% of our bid-bot profits:
@xeldal - 20.300 SP
@motoengineer - 5.000 SP
@drorion - 3.890 SP
@doinglean - 850 SP
@yanosh01 - 250 SP
@c0ff33a - 100 SP
@ohamdache - 100 SP
@marty-art 100 SP
@felander - 100 SP
@doqstrader - 90 SP
@jpederson96 - 100 SP
@vidafitnessveliz - 50 SP
@detlev - 50 SP
@haxmat - 50 SP
@yogesssh - 50 SP
@plushzilla - 50 SP
@gyrosean - 50 SP
@juanv - 40 SP
@braveheart29 - 20 SP
@chnorris - 18 SP
@danielwong - 15 SP
@fatkat - 10 SP
@reko - 10 SP
@baroen96 - 10 SP
@abuzenk - 10 SP
@here-could-be-your-name
Who is behind smartsteem:
Join us on discord
If you have any questions, feedback, want to collaborate with us or something else you want to tell us - come and join our discord! :)
Just a question on the above,
"A 3.8$ value would result in 2.85$ after curation and then in:
2.14 SBD
0.713 STEEMPOWER"
I'm pretty sure on 50/50 rewards, the SBD is usually exactly half of the $ rewards figure, ie 1.42 SBD in this case.
While the steem power rewards (from what I've reasearched) is the other half of the $ reward figure for the post, divided by the USD cost of steem at the time of payout. ie. lets say in 7 days time the price of steem is 3.50 USD, then the Steempower reward for the above should be 1.42/3.50 = 0.406 steem.
I could be wrong on this, but this is what I've observed.
Steem power was intended to be the token which would fluctuate, hence the varying value of steempower reward, while the SBD was supposedly intended to be more or less tethered to the value of the US dollar, which has obviously gone out the window through some sort of manipulation by whales.
So from your example above, using $9.5 as the SBD and $3.2 as the Steem values, if someone were to pay 5 Steem for an upvote, the vote value (deteremined by your ratio) of $2.85 (after curation) would result in 1.42 SBD and (1.42/3.2) = 0.44 Steempower.
So 9.5/3.2 = 2.97 steem per SBD
Therefore, the rewards are (1.42 x 2.97) + 0.44 = 4.657 Steem
4.657 Steem x $3.20 = $14.90 USD
Considering the customer is paying $16 USD dollars for this upvote, he/she is actually losing just over $1 USD
ok, it was late last night when I posted the above, but I've just looked over it and I'm pretty sure my figures are right, you guys are running a bot though, so you've been in the steem game a while. Can you verify this?
hey @tomswan,
your calculation is correct except of one little mistake - the author reward is right now around 75% SBD and 25% STEEMPOWER.
We've explained this here: https://steemit.com/steem/@smartsteem/guide-author-payout-ratio-how-much-sbd-and-steempower-as-author-reward
If you have any more questions, please feel free to ask :)
Im selling my vote to smartsteem, very satisfied, keep up the good work
Great to hear that @palani !
Hi there!
Just a question - if I'm selling a vote, can I set voting power threshold, below which @smartmarket wont use my vote?
Hey there!
Yes, of course!
Aye, just checked the feature (should have done it before asking ;) Thanks!
Can u give me A Upvote??
Please...🙌🙌🙌
Only small one!
How much % will i get in instant upvote?
Posted using Partiko Android
Your post is so good and standard. I am just upvote your post plz upvote my poste @hrishikesh
Congratulations @smartsteem, this post is the tenth most rewarded post (based on pending payouts) in the last 12 hours written by a User account holder (accounts that hold between 0.1 and 1.0 Mega Vests). The total number of posts by User account holders during this period was 3181 and the total pending payments to posts in this category was $5664.67. To see the full list of highest paid posts across all accounts categories, click here.
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Good post! Visit our blog and see the latest news and the best tops :D Greetings