So I noticed that the reward pool has been getting smaller and smaller. It was over 1,000,000 and is now under 800,000. I know there was adjustments after the hardfork but how low is it suppose to go? I am asking so I know that it is working. If it keeps going down then we might have to fork to fix it. The system, as far I know, is suppose to have a set amount of rewards that is divided out every day. I think we are working with a 30 day schedule. Now regardless of how many people vote, that number should not change. The number of votes changes the percentage of your voting power but not the total of the pool. At least that is what I think. If that is the case, then why is it is shrinking?
I think, if possible, we should hardfork so there are more rewards for the month. Not too much to negatively effect the price on the market but enough so that we can sustain around a 1,000,000 pool. This is just my opinion, the people who are doing the math behind it obviously know more.
If you know more about how it works, please let me know.
*my upvotes/rep disclaimer: https://steemit.com/steemit/@whatageek/my-steemit-account-where-i-stand-on-bots-self-votes-and-multiple-account
Your guess is as good, actually probably better, than mine. I still can't figure out how the rewards are calculated or how the numbers in our wallet affect things...
My husband has less Steam Power and a lower Estimated Account Value than I do but his votes seem to count for more than mine...
If anyone does know and can explain it in a "steemit rewards for dummies" kind of way I'd really like to understand it as well. :D
Great picture by the way...makes you feel a little more relaxed the longer you look at it...at least for me it does. :D
Thanks for sharing. :D
If you vote more often than your husband, then that can account for the fact that his votes pay out more than yours. You dilute the reward your vote gives with every vote. Then it takes some time (about three hours) for your votes to power back up.
Okay I understand that but if my husband and I compare wallets, his STEEM POWER amount in brackets is way higher than mine. Mine is only +11 and his is over +100 but his STEEM POWER amount is lower than mine. This is what confuses me...
I like rewards and i like pools so i upvoted this.
I like this comment, so I upvoted it. :)
Same here!
who doesn't like both of those things haha
very good question @whatageek I would also love to know.
Very interesting i would also like to know the answer to your question .
Doesn't a high rewards pool just lead to more inflation? Long-run it shouldn't benefit us much
Yes you are correct we want to keep inflation down and not have to many rewards but I think we need enough to make the site functional. A million a month is only 12 million a year which is less than %5. I think we can go to 1.5 million, which I think it what it is supposed to be at.
Before the last hard fork, the total pool fund was over 1.6 million STEEM. It had been building up since the previous fork that reset the pool and moved to a 7-day payout and 30-day average.
With the recent changes, that excess pool is being allocated and it will continue to drop until it reaches equilibrium with the fixed daily amount based on the inflation rate. Once it reaches that equilibrium, I'm not sure how it will affect the 30-day average for payouts. Just off the top of my head, I don't see how that average would work without a fund that exceeds the daily amount being created and allocated.
Such are the hard forks around here. They just do stuff without considering the consequences, it seems...even when some people tell them what the consequences will likely be.
hmmm, I think we should try for a 1.5 million pool on average if we can, that would be 50k rewards a day. Now it is getting a little low. Yep, I read your posts/comments before the forks, and I see your concern for the 4x vote is now the hot topic of self-voting.
you cool @whatageek
It's pretty disheartening to watch payouts drop like 40 percent throughout the week. Had my best post ever get up to 15.75 and now it's all the way down to 8.55:(