HF 19 update took place yesterday as you all probably know. The point of the update was to establish equality in the steemit community; where quality posts will become more visible and not be overshadowed by the flippers of the Steem whales...
Well as you can all see, the update happened and all off a sudden our post's expected rewards sky rocketed! For the first time ever, minnows finnally had a voice due to the dramatic increase in voting power.
There is however a catch. Upvotes are worth much more, but the amount of times you can vote in a day has dramatically decreased.You used to be able to upvote ~40 times with 100% power, but now you can only do it 10 times a day at full power, which is due to each vote being 4X as strong. After these 10 upvotes each upvote will "cost" you 1 percent of your power.
Call me a pessimist or what ever you like but the way I see it is that people are now starting to get cheap on their upvotes and bank up the power, what causes small hard working, active minnows to get left behind and not get any upvotes for their worthy posts.
Is the future of Steemit left in the hands of 10 upvotes a day and mostly self voting with these upvotes, thinking twice if I should upvote any posts even though I liked it, scared of losing my upvote power?
I really hope not.
If you guys have any other perspectives I would really like to hear them right now, feeling like the minnows are not getting equal rights but getting left behind.
Special thanks to @waphilip for his help with the post, make sure to check out his blog!
You can be stingy with your votes if you want but the reduction in voting power was to partially compensate the reward curve. Before HF19, a guy who has 10 SP gives out 100 times more money than someone with 1 SP for the same vote.
Just imagine the current reward everyone is getting, even with garbage posts, people can just start voting for each other and make good money. If they keep the same voting power, a lot of STEEM and SBD will be created and sold to exchange, driving the price lower. If there are too many STEEM and SBD, and people keep selling them, eventually it will be worth very little. Too much supply for the same demand.
In my opinion, minnows are not getting left behind. Take this current post for example, you're making roughly $15 for 15 votes and 16 views. You're not making as much as a whale, but it's much better than before. This will encourage new people to join and stay instead of trying it out and leaving right after.
Whoever came up with the powering down policy is a very intelligent person. That policy alone is what prevents Steemit from being massively dumped by people after a panic.
Thanks for your comment, really detailed and relaxing. You sir earned my upvote 😉
My thanks, I tried.
It will all be ok. Why worry? ☺️ 😊 😇
It's in my nature, I feel like it's better being a pessimist and being wrong than being optimistic and being wrong...
It's all a choice, all up to you 😀 😃 😄 😁 😆 😅 😂
I wouldn't say panic necessarily. Not sure how the future will play out for Steemit but I'm optimistic. I will say I've definitely seen less prevalent upvoting on my posts/comments since HF19. Maybe its just this initial adjustment period?
I guess you might be right, people will get loosened probably.
I think Steemit will be alright.
I'm sure Steemit would be alright, but will the minnows be?
I just read your post and its the exact opposite of how I feel its going on here...
Maybe I'm still too new (under a month on here), or maybe I just am not doing something right....I have no idea either way, but I've only ever had a problem with my voting power once in regards to running out of power (and I was still at 80+%, can't remember if it was 82 or 84%), any way, it told me for two days that I couldn't up vote or resteem or even post to my blog for the entirety of those two days.
Thankfully by day three I was back to being able to do everything again and haven't had an issue since.
I think it must have been a glitch though in my case because many other users that I spoke with had less voting power percentage than I did and were still able to up vote, post and resteem.
Every single person that I've come across and "spoken" with on here has been very helpful and kind about sharing information and teaching this old gal how to do this blogging stuff.
I can't say that I'm amazing at it yet but I am hopefully getting a bit better at it each time I post an article or make a comment.
I think in the end steemit will surpass all of our expectations and has limitless potential.
I hope your future posts do well. God bless and take care. :D
I predict Steemit will take over the market, my worries are for the small fishes like me having troubles being noticed...
Things go down, things go up.
Nothing to worry about short-term.
Hope you're right.
Doesn't the voting power recharges every 24 hours?
I think you recover after 24 hours depends on how much percentage you at, not really sure though. Think I saw 5 days from 0% to 100% somewhere, so that makes it 20% every 24 hours...
maybe if they speed up the recharge in the future, it might fix this concern?
That is a great idea.
thanks for awaring great post
Thanks mate
the future will tell us
Yup, only time could tell, but we can try and predict.
I guess we will see how it works and I'm sure there will be more updates forthcoming as STEEMIT's bloggers voice their opinions.
Probably!
I'm happy that it happened, the whales still will be able to vote alot at there 20% or 1% votes, this will make newcomers feel more welcome as well, they will be able to help out others that are new or have been around and make more for great content too^^, I normally throw a vote on my blogs but that less then one a day mostly, and Iv'e not normally voted my own comments, although now I can give some change(.05) to people that comment on my blog^^ It's a nice feeling^^
Nice post!:)
larutanton.
Yeah but it seems like the whales don't like getting their power down to 20%, it's only my opinion though and I would really love being wrong this time. Thanks for your kind words, appreciated.
What i meant was, they purposely turn down their voting power so they don't vote someone and give 100 dollars, so with this new system they ,depending on their rep would be able to extend voting by just adjusting the voting % they use. Not completely sure about this. I'm sure there are whales that vote with 1% already and still give over like 10bucks, so they will still have less votes in a day, although I never hit 40, but may have yesterday . Thanks a ton for the reply😃
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We all have to find what works for us, I use my slider so everyone I vote for gets more than before, its going to take a while to settle plus some are only here for themselfs which is a problem
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