This has been on my mind for the past few days and it's nice to have a clear and concise breakdown on the reasoning. Thanks a ton, upvoted and followed.
This is excellent. There is so much more to Steemit, what more is there to understand and know.
Do you happen by chance to know where the reward pool comes from and how it is filled? A question I have always asked but never a straight answer given.
As a matter of fact, I highly recommend following @sykochica - a close friend and fellow co-host of the @steemittalk Podcast wrote up a series called "Answers To Common Questions", and answers that very one. I hope this helps. :)
Was just wondering this myself after a post dropping from$800 to under $700 in a day with over 100 more upvotes.... now don't get me wrong in happy about this outcome, (yes this sounds crazy but I have my fingers and toes crossed that it does NOT go over $1000!) Ok so you'd have to see the post to understand! 🤣
It is rather confusing to understand how this works with my future posts. Having said that Facebook gives me nothing, Steemit gives me a community of forward thinking people and a potential to make money from my posting awesome stories of my everyday experiences. So I want to thank you for posting this video explaination. Following you and your friend @sykochica now. Have a wonderful day 😃
I feel like just as the cost of the SBD & STEEM fluctuates so should your payout. An when people spread their voting power their overall influence on the market is more sprinkled.
Actually if someone upvote you and give you 1$, it wont decrease because that person continue voting, you keep that 1$, next post should get 0,9$ and 0,8$ and so on... If your 1$ decrease, is because of the average price of the token, sometimes it increases, i remember once the payout of 1 post increased 10$ without getting any new upvote...
The price of steem never remains steady, at least not enough time, remember that the payouts are based on an Average of the price on the last week or something, it is impossible the price to remain steady a complete week... Also i have seen the payout increase sometimes, therefore i don't think that the value of the vote decrease, once the vote is given, the voting power is reduced and thats it, at least thats what i think, we should ask some of the programmer though to be sure... :)
I never disagreed with that. Both factors are at play, I believe. The increase you're talking about is rise in Steem price. You'll see ups and downs caused by both Steem price and voters voting around. Like I said - and this is regardless of the Steem price factor - if a whale votes you up and then continues spreading that love to other people on their posts, you're going to see a drop in your potential payout.
I mean, if the whale gets his power regenerated, why should the payout decrease?... well i am just trying to understand how steemit works, it is not that easy to get :D
I'm loving this short info Vlogs. I understand the basics, but between @Sykochica 's post and these videos you two are really 'filling in the blanks'
Appreciate the info and thanks for doing these.
That's not quite what I was trying to say.
Let's say a whale votes on your post and suddenly your post is $50. Then, when the whale continues voting around on other posts, his vote power drops. As it drops, the payout on any active posts that he voted on will go down a bit - including yours - because of the whale's vote power decrease. So your $50 may find its way down to, say, $45 before it pays out. Maybe even lower.
And on a much much smaller scale, my upvote for this post will decrease if I go out and drain my VP on other posts. Right? That's what I was trying to get at in my response.
Edit: I should say "The value of my upvote on this post will decrease if I drain my VP today."
Yes, exactly. So if your vote happened to give me 50 cents before you go and vote on, say, 8 more posts or whatever, that 50 cents for me will fall since you're out spreading the love. :)
Well sure if you don't want any followers. Your followers are your biggest asset. They are the eyes who see your posts. If everyone votes for themselves and no one else, I don't imagine it would really work.
In fact, it does regain very slowly, but taking into account that the payout is in 7-day period. it regained about 50% in 3-4days. For say, even in whale's situation would not the payout go up even its 1 of 50 votes or 100?
In theory I assume it could, it makes sense anyway. But for it to be drastic enough to mean anything and show much of a rise, either that whale would have to be the only vote, or the biggest.
In fact, for that to have much of effect on the post payout, everyone who voted on it might even need to stop voting all together. Otherwise, if you are 1 out of 50 votes on a post and only your voting power goes up, it probably wouldn't make the payout go up that much, if at all.
Wow great post!
I couldn't have done it much better my self. If I wasn't following you already I would cause of this short and sweet educational piece!
Cheers!
Thanks for the reassurance. At least that's one less thing to worry about! There is a lot more in learning how to survive in Steemit in addition to just writing.
interesting. i noticed this same thing, but simply assumed that the lack of constant activity was the cause, which would've made sense as well. this makes far more sense.
Yep, that's half of it. Sort of. For now, Steem is only traded against Bitcoin. So you may even see a fluctuation when Bitcoin itself goes up and down.
This is really helpful! I just saw the price go down in front of my eyes as I refreshed the page. Now im good. btw I love your style of storytelling with the mysterious music at the back. it reminds me of vsauce. Maybe you could use a better studio background instead of the backyard next time. Upvoted and Followed!
This has been on my mind for the past few days and it's nice to have a clear and concise breakdown on the reasoning. Thanks a ton, upvoted and followed.
This is excellent. There is so much more to Steemit, what more is there to understand and know.
Do you happen by chance to know where the reward pool comes from and how it is filled? A question I have always asked but never a straight answer given.
As a matter of fact, I highly recommend following @sykochica - a close friend and fellow co-host of the @steemittalk Podcast wrote up a series called "Answers To Common Questions", and answers that very one. I hope this helps. :)
https://steemit.com/steem-help/@sykochica/answering-common-questions-where-does-the-money-come-from
Was just wondering this myself after a post dropping from$800 to under $700 in a day with over 100 more upvotes.... now don't get me wrong in happy about this outcome, (yes this sounds crazy but I have my fingers and toes crossed that it does NOT go over $1000!) Ok so you'd have to see the post to understand! 🤣
It is rather confusing to understand how this works with my future posts. Having said that Facebook gives me nothing, Steemit gives me a community of forward thinking people and a potential to make money from my posting awesome stories of my everyday experiences. So I want to thank you for posting this video explaination. Following you and your friend @sykochica now. Have a wonderful day 😃
I feel like just as the cost of the SBD & STEEM fluctuates so should your payout. An when people spread their voting power their overall influence on the market is more sprinkled.
Exactly. The price of Steem is the tide.
And as they say, the rising tide lifts all vessels.
very well said. I true analogy that can be used in almost every instance.
Solves lots of questions that many people had. :)
Actually if someone upvote you and give you 1$, it wont decrease because that person continue voting, you keep that 1$, next post should get 0,9$ and 0,8$ and so on... If your 1$ decrease, is because of the average price of the token, sometimes it increases, i remember once the payout of 1 post increased 10$ without getting any new upvote...
Actually, I believe it's both. You'll notice your payout decrease while the price of Steem remains steady.
The price of steem never remains steady, at least not enough time, remember that the payouts are based on an Average of the price on the last week or something, it is impossible the price to remain steady a complete week... Also i have seen the payout increase sometimes, therefore i don't think that the value of the vote decrease, once the vote is given, the voting power is reduced and thats it, at least thats what i think, we should ask some of the programmer though to be sure... :)
I'm just speaking from my experience here over the last year.
So you must know that payout sometimes increases too right?... I have seen that too, without getting any new votes...
I never disagreed with that. Both factors are at play, I believe. The increase you're talking about is rise in Steem price. You'll see ups and downs caused by both Steem price and voters voting around. Like I said - and this is regardless of the Steem price factor - if a whale votes you up and then continues spreading that love to other people on their posts, you're going to see a drop in your potential payout.
That would make sense if the reward pool is weekly or something? i thought it was a daily reward pool...
I mean, if the whale gets his power regenerated, why should the payout decrease?... well i am just trying to understand how steemit works, it is not that easy to get :D
I'm loving this short info Vlogs. I understand the basics, but between @Sykochica 's post and these videos you two are really 'filling in the blanks'
Appreciate the info and thanks for doing these.
Good info. The market fluctuations I expected, but I wasn't aware that your past votes could be affected by your current voting behavior.
Thanks for keeping us informed!
That's not quite what I was trying to say.
Let's say a whale votes on your post and suddenly your post is $50. Then, when the whale continues voting around on other posts, his vote power drops. As it drops, the payout on any active posts that he voted on will go down a bit - including yours - because of the whale's vote power decrease. So your $50 may find its way down to, say, $45 before it pays out. Maybe even lower.
And on a much much smaller scale, my upvote for this post will decrease if I go out and drain my VP on other posts. Right? That's what I was trying to get at in my response.
Edit: I should say "The value of my upvote on this post will decrease if I drain my VP today."
Yes, exactly. So if your vote happened to give me 50 cents before you go and vote on, say, 8 more posts or whatever, that 50 cents for me will fall since you're out spreading the love. :)
Got it! Thanks!
So basically steemit is a system that encourages a person to post, then upvote their own post, and not vote on anyone elses?
Well sure if you don't want any followers. Your followers are your biggest asset. They are the eyes who see your posts. If everyone votes for themselves and no one else, I don't imagine it would really work.
Thanks Winston for sorting that out - I have been wondering that too :)
Just what I was wondering this morning. Thanks for the info!
So, If i vote on a post for say at 35% voting power, but then it regains back to 80%. Does the amount that I voted earlier increases over that period?
I assume that's possible, but if your voting power behaves like mine, it won't regain that quickly.
In fact, it does regain very slowly, but taking into account that the payout is in 7-day period. it regained about 50% in 3-4days. For say, even in whale's situation would not the payout go up even its 1 of 50 votes or 100?
In theory I assume it could, it makes sense anyway. But for it to be drastic enough to mean anything and show much of a rise, either that whale would have to be the only vote, or the biggest.
In fact, for that to have much of effect on the post payout, everyone who voted on it might even need to stop voting all together. Otherwise, if you are 1 out of 50 votes on a post and only your voting power goes up, it probably wouldn't make the payout go up that much, if at all.
Thanks for the info, I was wondering about that.
Thanks for the great info Winston. I liked your final thoughts on what ever we make is still more than nothing on any other platform.
Always answering good questions. These are helpful to all
and we've seen an uptick in the mount of posts thus spreading out the base which 'dilutes' the pool as it was explained to me - i hope that's correct
That very well could be.
thanx for the explanation.
Nice post. kindly check out my post
https://steemit.com/money/@muhammadhassan/never-depend-on-a-single-income-invest-wisely-live-well
THanks
Thanks for the informative video @winstonwolf. You answer my question about upvote. I will reesteemed this video to spread your video
Wow great post!
I couldn't have done it much better my self. If I wasn't following you already I would cause of this short and sweet educational piece!
Cheers!
followed and upvoted. Great video. I was having these exact questions. Thanks man!
This was super helpful. Thanks for the explanation!
Thanks for the reassurance. At least that's one less thing to worry about! There is a lot more in learning how to survive in Steemit in addition to just writing.
Thumbs up for Peace Orchestra! Concise explanation, well done.
interesting. i noticed this same thing, but simply assumed that the lack of constant activity was the cause, which would've made sense as well. this makes far more sense.
I've not watched or read any of the comments, but I'm going to guess this has something to do with the FIAT value of Steem.
-Will watch now.
Yep, that's half of it. Sort of. For now, Steem is only traded against Bitcoin. So you may even see a fluctuation when Bitcoin itself goes up and down.
Wow, awesome video! Upvoted for sure !
Thank you, I was hoping for a quick, simple answer and you provided.
This is really helpful! I just saw the price go down in front of my eyes as I refreshed the page. Now im good. btw I love your style of storytelling with the mysterious music at the back. it reminds me of vsauce. Maybe you could use a better studio background instead of the backyard next time. Upvoted and Followed!