Would somebody mind explaining to me how the whole voting system works? I'm still unsure and want to participate but right now I'm nervous of upvoting too much, but obviously want to show appreciation of the stuff I like too! Is there a daily limit? How does it work? Thanks in advance!
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Upvote Top 20 Posts
Any post in the top 20 already has a large amount of voting power behind it. At reddit scale this could mean 1000+ individual voters. For the sake of simplicity, we will assume the average user has a voting weight of "1". When this user votes, it will boost the total votes from 999 to 1000. The reward for doing this would be proportional to:
RewardWeight = 1 * (1/1000)^2
Other earlier voters would have much higher reward RewardWeight (by orders of magnitude) so you can expect your reward to be less than a $0.01.
Mirror the 20 most recent votes on new posts
In this case your bot would be following other users (and other bots). Under this approach you will be playing the odds that 1 in N posts will have meaningful rewards.
Upvote Everything
This approach will quickly get the account rate limited due to bandwidth limits, so it is technically not possible for the average person to upvote everything. Second, your rewards per-vote falls with the square of the number of votes you place. This means voting for twice as many things means each of your votes can earn 1/4th as much. This "spray and pray" approach will have most of your votes paying little and the ones that do get lucky will have an order of magnitude lower payout than they otherwise would have.
Thanks for your detailed response - this feels very complex! Sorry for asking lots of questions but if you don't mind answering - how do I get my voting power to go up? How much Steem power do I have to have? I've just got some from a post but I don't think it's made any difference at all. My upvoted still seem to be worth nothing even though I use them very sparingly.