I am in no way upset, just confused. While the homepage says $10 in Steem Power only $3.18 is in my wallet. Am I missing something or just late to the party?
Thanks!
P.S. I did do a search and didn't find anything, but can't imagine I am the first to have this issue. Sorry.
P.S.S. Clearly I suck at this more than I thought, my image didn't seem to take, it's HERE.
The short answer is that the $3.18 is calculated based on a slow moving average of the STEEM price. That 5.004 "STEEM POWER" in your wallet is actually technically worth closer to $19 right now because the price of STEEM went through the roof and the moving average hasn't caught up.
Thanks for both of your replies!
Anyone else, please correct me if I'm wrong, but I believe the discrepancy is based on the way the STEEM blockchain handles its valuations/exchange rates. It works based on a seven day rolling average, so when you signed up, the $10 was awarded to you based on the current exchange rate, but your $3.18 in your wallet is a product of
priceAverage * steemHeld = 3.18Hopefully that helps! Welcome to the party!
Thanks! This is really interesting and I appreciate you helping me out.
The account creation fee is 5 Steem, and when the account is created, that 5 Steem is "Powered up" into Steem Power. That means it can't be immediately pulled out of the account without a time consuming "Power down" process, but as long as it's in Steem Power instead of just Steem, it can basically accumulate interest. That's why your account now shows 5.004 Steem Power instead of just 5.
this is because one week ago steem coin only worth $0.1 and today it worth $3.5 so the average is less than $1, but in actualy fact you own more than $15