this interview, where he stated that blogging rewards work similar to mining rewards:I would like to start this post by quoting @dantheman on
“…[steemit] works like proof of work where as competition increases the difficulty goes up”
The concept is simple: If more people post and comment then it will be harder to get good rewards, this may discourage some users from posting, which will reduce the total amount of posts making difficulty drop, attracting users back and raising difficulty again.... this process repeats itselfs.
image from: newsbtc.com
This is similar to mining Bitcoin, if difficulty increases and miners are not getting good rewards they quit, if they quit difficulty drops and others will take their place.
But how do we measure this difficulty?, Bitcoin miners have mining difficulty, could it be possible to have Blogging Difficulty!?
My personal Blogging Difficulty Index
A very simple way to find out how difficult it is to get rewards would be to divide the total amount of posts by the number of “winning posts”…..hear me out:
Total Posts = Total Amount of posts in a 24 hour period
Winning Posts = Posts that made more than 100 SBD in rewards.
TP / WP = Blogging Difficulty
Let’s do an example with current numbers:
4552 / 121 = 37.61
Blogging Difficulty is of 37.61, the higher the number the more difficult it is to get a “winning post”.
You could also translate this into a percentage and say that 2.658% of all the posts are winning posts.
I think this index could be a helpful reference for bloggers.
I would like to read your thoughts on this concept and on any other alternative to evaluate blogging difficulty?
Note: Steem rewards are not as exact as Bitcoin mining rewards, the probability of getting rewards will not only depend on this index but also on your ability to write well and your digital marketing skills... In this sense the Blogging Difficulty Index is just one of the factors that will influence your success on the platform.
rough difficulty = (total system posts and comments per day) / (author awards in SBD per day)Hi @chitty, we talked already but I'll just paste my formula here:
Hey @neoxian, thanks for your insight and the debate on steemit.chat...
Your formula is more straight forward and is highly dependant on Steem price, but I think it is important to get a feel of the likelihood of getting a "winning post" as this would be more useful to bloggers who expect returns.
What the variable WP tries to achieve is to show how difficult it is to get a meaningful reward. The problem with my formula is that a "meaningful" reward is subjective and therefore hard to determine, 100 SBD is not the same in sweden as it is in Venezuela, so yeah your formula is definitely more precise.
Steem rewards are not as exact as Bitcoin mining rewards, the probability of getting rewards will not only depend on this index but also on your ability to write well and your digital marketing skills... In this sense the Blogging Difficulty Index is just one of the factors that will influence your success on the platform.
I just realized my formula doesn't take into account the 4 post limit though.
I made 20 posts in last 24 hours with 0 winning post. So, my blogging difficulty is infinitive , because, 20/0 = ∞
well you are part of that 97,4% that is getting less than 100 SBD, we could tweak the number of sbd to consider a winning post to 50 maybe and you would get a higher percentage.
In the early days, out of 100 posts maybe 10 were winning posts, so difficulty has gone up a lot.... if you quit and others quit it will be easier for people who stay to make winning posts, since there will be less competiton and the amount of steem being distributed daily would be the same.
Moral of the story: Don´t quit!
Amen! I finally had an article pop yesterday (just over $300 today) but conversely to how some approach this, I spent over 8 hours writing it. I believe one whale (or respectably high individual) must have chosen to like it and upvoted because of the quality of the content, because the change was sudden - no dollars for over 30 minutes, then BAM shot over $200 while I was at the laundrymat!
postsas an actual blog post, not comments. My bad.@royalmacro - you may want to take a look at the penalties for posting more than 4 times in a 24 hour period. EDIT: I read your termI'm guessing you need to find the balance between quality vs quantity. I know I'm looking for mine.
I'm playing "the long game" here.. writing for the millions not on here yet and creating tags that don't exist are are still very obscure, in hopes of attracting a long term following. Even if the financial aspects of Steem were to bust, a large and loyal following can still be financially rewarding for life. And rewarding in many ways that involve money, I've also found. But you're right about how the level of difficulty will always be cycling - good work and thanks again.Nice @chitty and thanks for the actual numbers. My feel (and I'm old-school, had websites before Google existed, and just got on Steemit a week ago) - but my belief is that just like when the web started out "Content is King" and "cream always rises to the top". It's wise to "optimize" our pages and approach; however writing for votes (according to what the Steemit market is or seems to dictate today) is as wrong as writing to search engine algorithms instead of writing primarily to and for actual people.
Thank you for reading and good luck!
Much appreciated.
Hi @chitty nice concept to measure Blogging Difficulty, We could also say that our mining power, is directly related to the amount of followers we have (potential Upvotes) and the quality of content we post, and when a whale gives us an Upvote it's like finding a block. Yay ;-)
HMM, yeah...noup.
You see, you seem to forget that miners don't get "famous" or "on whale lists" or other increased benefits from being miners longer.
So while it is true for the general public - a.k.a new people etc - the fact that you can buy, receive, trade upvotes makes the whole system heavily unfair. Yeah, sure you can say all day that my post made 100$ yours made 0$ so I WORKED HARDER [ a.k.a I write better/chose better subjects/smth else] but that would be a lack of self-awareness that I don;t think it's healthy.
Sincerely, this system seems to shame people who don't make money + skew the perception in the favor of not even trying [ like with mining, is there really any point in mining on my 5 years ol computer when there are FARMS out there? ]
I love the idea.