From what I understand, hardfork 18 changed the way the rewards pool works (7 day payout) so it will take some time for it to fill up again enough to see the same rewards we were seeing previously. Some may think, "Well screw that then. I'm going to hold off on posting my best content right now until later when I can get the rewards I deserve."
That's understandable, but maybe there's a better, more profitable long term view:
Now's the time to post my best content while others aren't motivated.
If you're posting your best while other authors are slacking off, you'll attract more new followers who are looking for great Steemit authors right now. Over the long term, those new followers, and their votes and shares, will be more profitable to you than any rewards right now.
I'm starting to see this at work for me. I now have over 1,000 followers (!!!) which is amazing (Thank You!). With all those eyeballs, I get more votes, more attention, more engagement, and ultimately more fun.
Followers and readers are what bring value here. Don't forget, the real currency of Steemit is relationship.
What I'm curious about now is how the trending page will change if the same, high-paying posts will stay there for 7 days... hmmm.
Thanks for making this post, i an new to steemit and i notice a lot of the people that have many followers are only Resteeming other people’s posts.
Which makes me think that i should hold back my original content until i have built a following and that i should just resteem instead. if you have the time i would appreciate your thoughts on the people who only resteeming but have no content.
Many of those "resteem only" accounts are just bots. I did a post on flagging them recently. I do not recommend resteeming often (you can see from my own blog, I don't do it all that much) because people will want to follow YOU and appreciate your writing. If all they ever see on your blog is resteems, they will have no way of knowing if you're a valuable enough writer to follow. My suggestion is to start now and don't stop. Don't compare your beginning to other peoples' middle or end. I've been blogging for 13 years. It takes time. Be patient with it and enjoy the process. For years, very few people saw my writing, but I was learning and getting better at expressing myself. That made it worthwhile. Today I get to enjoy some of the rewards of those efforts.
Can I get a hell yeah! Good post. Also am curious how the trending page will look with the 7 day payout. We shall soon see.
Indeed we shall!
Great point! True Steemians shouldn't be motivated by payout. Steem on!
What should they be motivated by?
By the need to create quality to make this site an actually reputable blog! Even if a payout doesn't come from valuable content, it will add legitimacy to this platform, and hopefully attract more users to it. Meaning a larger pool of people potentially upvoting and paying out.
By the true value of Steemit as mentioned in my original post.
What is the true value of Steemit? There are so many better sites out there. If you want to discuss stuff for free, there's Reddit and Facebook. And message boards of specific content.
All are better than Steemit.
I view the value of social media platforms via relationships, interaction, and "social" activity (see the "real currency" post I linked to in the OP for more on that). That means a social media platform is only as good as the people you follow, the people who follow you, and the interactions you have that turn into relationships. This post, as an example, currently has 71 comments and many of those comments are from people I've really enjoyed getting to know and interact with over the last 9 months.
For me, no other platform has that right now. When you make blanket statements like "All are better than Steemit," please recognize that's a very subjective statement. For you, all others may be better. For me, they are not.
If you want to talk about UX/UI or network effect or time on site or some other concrete, objective metric, then you are 100% right. The other sites blow Steemit out of the water right now. It's only been a year though, so I have high hopes.
Good points although I have also seen some new "glitches" regarding resteems and replies that make me a little wary of posting content atm. However, I don't only post for the money but because I enjoy interacting with my followers and the community. So @digicrypt will proceed as normal!
Yep. I've been doing software as a service for 10 years. There are always glitches. So far, one year in, I'm still quite impressed with this place. :)
Agreed :)
Well, I'm here to write and share and this is my primary social media platform... and I'm a social blogger, so that's that, and that's what I do.
I do like the idea of ramping up on quality content while a bunch of people are sidelining themselves in service of "let's wait and see." I'm just planning to go forward as before and hopefully that approach will serve us well until a "new normal" is reached. And beyond.
Oh yeah... and congrats on reaching 1000 followers! That's a pretty major milestone... wow!
Thanks :)
It's fun to see how much people care about those place when it changes.
I'm glad to be in your 1000+ strong. :)
I have no intention of holding back from posting... I just wish I had another me!
Thanks @merej99. We do have a pretty cool tribe forming here of positive thinkers who want to see this place succeed. Thanks for being a part of it. :)
Steemit made an announcement.
I like your positive approach. I totally agree with you ^_^
Thank you. I think there's always a beneficial way to look at every situation. Everything is a learning experience and everything has a different meaning from a different perspective.
You're absolutely right! If doesn't feel right at the moment, but it does mean, more votes, more time to get exposure and all those things.
I got a new idea you might like and I mentioned you as one of the few... the diamond feed. Let me know what you think..
I like it! I left a comment.
Very nice article, bud...
Just the motivating write-up I needed to read to get myself back into overdrive! :)
All the best and congrats on reaching over 1000 followers! :)
Thanks EzZy!
Thank you for the information. I will make a post now and I follow you to read more of your content :)
Thanks so much for the follow! That's what I'm talking about!
Much appreciated. :)
Do you know if the experiment has ended?
I tried upvoting and where I was able for a short time to deliver 2 cents, I'm back to $0.00.
Edit: I've just upvoted this comment and got a zero.
It has nothing to do wth the experiment, it has to do with a change in how the reward pool works after hardfork 18 went out. Follow @steemitblog for more information.
Also, according to @abit's page, "the experiment" is still ongoing (and by that, I mean whales are still discouraged from voting with full power).
Oh, so that's what the whale experiment is about! I have to admit I kind of miss the days when your post could get a sudden uplift just because a whale liked it. But it's good if the whales want to vote full strength, to spread their votes around to minnows.
Spread the votes indeed!
Gawd, that just makes things worse - no whales and the minnow vote is worthless.
It seems crazy to change the reward pool when the old system was working fine. No-one votes on anything after 24 hours anyway, because content just gets buried.
I wonder if we'll see a sell-off of Steem this week.
Many would disagree. Maintaining the 30 day second payout window, from what I understand, added a lot of unnecessary complexity to the blockchain code. These changes are important more for the future. These are early, early days. Expect things to change often or be disappointed.
I was thinking the opposite. As far as I understand, there will be no payouts for the next 7 days. That means the only steem sold on the markets will be the steem that already exists.
Yes I read somewhere that the rewards pool will be just 3% of what it was and then then slowly normalise over a one month period. You make a good point about continuing to post but I think that one thing is missing in all of this, proper communication.
Right now I'm not sure of what is fact, rumour or speculation.
Perhaps there should be a news button or an update button where everyone can see what is going on. Right now I get my info in dribs and drabs.
What are your thoughts?
Follow @sneak's comments for some updates, but yeah, I agree with you. Hopefully once the dust settles there will be a more formal announcement on the @steemitblog.
I'm not wasting posts for free.
You just defined all of social media.
And yet, millions of people still use social media. Huh.
I havent liked whats happened to the promoted tab recently. You used to be able to see new articles which were only there for a day but that seems to have changed in the last few days too and you just see the same content all the time now. I hope the 7 day trending posts wont be the same stale content for the entire week.
I imagine @sneak and the team are working to fix the promoted posts tab. That's an important part of burning SBD and giving people incentive to advertise here on Steemit.
I also share that hope. Waiting on word from Steemit on that one.
Oh, I also noticed an issue where when you comment, the comment disappears until you reload the page. I'm sure the team is cataloging these issues and working through them. Running a software as a service company and maintaining the code as you add new features is hard. I've been doing it professionally for almost 10 years now.
I am going to go to the pub 🍺 and turn off my computer till tomorrow 🙂
just this is the reason why today publish the best thing I did this week, thanks for your post @lukestokes
Very cool! I had never heard of a pet running before. Looks like a great community event. I like your dual language posting style as well. :)
Thanks so much!! ^^. every day I try to give the best of my to improve the quality of my content for our dear steemit community
Very nice positive approach.
There's always a bright side. :)
Hello @lukestokes! Helpful information. Thanks!
You're welcome!
Nothing will stop me but I have to admit that my recent posts are shorter than usual testing new grounds with eSTeem App I never used before. Thanks for your post. A pleasure to follow you
Thanks Mammasitta!
I always smile when I see your username because my dad used to call my mom that. :)
How sweet ! My artists started to call me by this name. I guess I am a little Bit the Mother Earth kind of girl who always took care of everybody 💃
So this is the new payout and it's not changing back?
As far as I know, it's not changing back. Steemit (or, to be more precise, the STEEM / SBD marketcap distributed via the rewards pool) may not be ready to support professional content creators. My suggestion is to adjust expectations accordingly. ;-)
It is going to be interestingly happens. I'm going to try to do a few posts to see what happens.
Post away! What I like is noticing how much people care about this place and what happens here.
Nice point, but I'm not sure one's rewards come from people who appreciate his posts. ;)
Rewards come from whale upvotes mostly. Whales are incentivized to reward authors the community enjoys. They determine this via votes from the community who appreciate posts. It's all connected here. Sure, you can do well if just a few whales like you, but from experience, that only lasts so long. A good long term strategy is to gain a large following because of consistently valuable content. Whales will notice that and want to get in on it too for curation rewards and to promote good content on the network which increases the value of their holdings.
thx for your reply. I'm not sure dynamics are that simple, though. most of upvotes comes from bots, and bots are there for curation rewards. but I don't know.
But how do bots (or, more accurately, their owners) determine who to add to their lists? What metrics do they use? I've been watching this dynamic develop since I joined in June of last year. The minnow votes count and are important because that's one of the main indicators they use. So the next question becomes, "How do you consistently get minnow votes?" I think that comes from gaining a lot of followers via creating consistently good content. Yes, minnow votes alone won't cut it. Getting noticed for consistently putting out content others upvote will, I think.
That's been my perspective so far, anyway.
How do you interpret this answer from @abit to my question
My Question
"Will the rewards as we see them now on posts done in last 24hrs increase the next 7 and 30 days? My logic is: same amount of new Steem created every day, and when same amount of posts will be created and same amount of comments created and same amount of votes placed in coming days, the pre HF17/18 value of the post shall eventually be the same, or?"
@abit Answer
"Eventually they will be the same. But during the first 30 days, when the fund pool is building up, we'll expect the pending payout on a post increase day by day."
I don't know. Maybe ask them? ;)
Seems like the pool of funds steem uses to pay out the 7 day period needs to build up so until that happens, rewards will be lower. But yes, as it builds up I'd imagine the rewards will go up, but I don't think it will catch up to what it was before since new posts will be created which are also taking rewards.
Keep in mind that every day the same amount of Steem is minted. After 7 days you have 7* amount per day to be distributed over 7*daily posts/comments, so netto effect should be that posts value of posts done with pending payout will get same value as they had before HF17/18 upgrade. Apparently the calculations are now done on 30days, hence normal should be then after 30 days, hence the 3% (not exactly, since my interpretation is 1/30 = 3,3333333% @abit mentioned in his post (https://steemit.com/witness-category/@abit/abit-witness-upgraded-to-0-18-1), that is my logic.
Anyway, will ask further clarification to @abit.
Ok posted this question to abit, lets wait for his answer...
Ok, since in other posts I see different information (like here: https://steemit.com/steemit/@lukestokes/don-t-hold-back-your-best-content-while-rewards-are-low), I like to get an example for you from my own post, posted just before the HF17/18 upgrade.
The post had a value of 4,20$ before the upgrade with a 24hrs pending payout. After the upgrade the value jumped back to 0,03$. The post will now be paid out after 7 days. Will the value be up to 4,20$ again without any new votes coming in, and also assuming it would have stayed at 4,20$ (not taking into account more posts coming causing the value to change because of the re-distribution), also assuming my previous assumption, every day same number of posts/comments etc as we have more or less every day prior to the HF17/18 upgrade (and of course per day these numbers changes in reality, but lets assume that will be fixed for coming days).
In the end my question, as from so many others, that I like to get 100% clarity on: will the value of posts prior to HF17/18 upgrade, in the end have the same value after the new pay out term of 7 days? AND will posts done today get same value as if same post done in 7 days from now under the exact same conditions? and what about when posting after a month, 30 days, again under the exact some conditions?
Love this approach. Though, it would be really nice for people if things were explained ahead of time. Despite watching my post from yesterday change from sixteen dollars to sixteen cents, I still plan on posting exactly as I always do, because ultimately I'm not here for the money. Though I won't lie and say it doesn't factor at all, lol. But, it would seem like there would be one person in the upper levels who had the ability to smooth the waters so to speak, explain everything in layman's terms and most of all, prepare people! Jeeze, haha.
Yeah, hopefully they will learn from this. As Steemit (and STEEM) gets bigger and more valuable, these economic changes will have even bigger impacts. It's not just Steemit, Inc's fault here. Each of the witnesses are also responsible for knowing what code changes are being made and how it will impact everyone. It seems like this decreased payout is something people didn't fully realize, though it was mentioned in the release notes by Steemit.
In the vaguest, most sugarcoated way possible, yup it was addressed lol. Actually, I spoke to abit. And he said he was hoping that the steemit team would find someone they could task with connecting with the platform users on such things. But he did not seem to know anything more than what we've already heard. Incidentally he's the only witness that bothered to even answer my question out of the several that I posed it to. Also, on a side note, your comment did not show up in my replies. I only saw it because I clicked on your post to see if anyone had posted any updates. So another glitch, yay, haha!
EDIT: It's there now, might just be taking more time to show up, I've actually noticed this with two comments now.
Abit is fast becoming my favorite witness. Actually I've always liked him, he was always a large supporter of comment rewards . There were even times when I made more from his votes on my comments then I did on my post in a day.
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Advertising your service in comments here will get you flagged.
Just like you wouldn't but into someone's conversation in public and say, "Hey, you don't know me, but I..."
I agree with what you said :)
Definitely agree with you on this one. We should all keep writing and keep the activity (and positivity) up!
What other options do we have? Go back to social media platforms which sell our content for advertisers?
Yeah, I'd much rather stick with Steemit! The community's better (less rude) aswell :-)
I agree. It's amazing how nice people can be when rewards and reputation systems are put in place. :)
Haha you've got a good point there :-)
Hi @lukestokes, I just stopped back to let you know your post was one of my favourite reads and I included it in my Steemit Ramble. You can read what I wrote about your post here.
Thanks @shadowspub!
I couldn´t agree more! Now is the moment to prove that value isn´t measured exclusively by monetary aspects :)
Congratulations on your 1,000 followers milestone, very well deserved.
Thank you!
Bah... now I want to go back to Costa Rica and go surf! :)
My best work, huh? I tried that. Got kicked in the teeth. But, I'm capable of taking a hint, so here's my standards for the time being:
There's my 'best' according to lessons learned. Steemit ups it's game, maybe I'll reciprocate. Ball's in their court.
"Kick you in the teeth" is a bit much.
Oh, fercryinoutloud... it's a figure of speech.
But I think you knew that.