Hi everybody,
last week I had 99SP (steem power), corresponding to voting weight 0.02$ (100%), my vote was worth 0.01SBD and 0.00 steem. Then I boosted my voting power to 0.03$ (about 117SP). But after 4 days my upvotes (from last week) were worth 0.01$, resulting in nothing (0.00 SBD and 0.00 steem). So everybody I upvoted was fu**ed up, because my vote decreased.
My voting power decreased to 0.02$ (100%) and 0.01$ (75%). It's even worse than it used to be with 99SP.
All right, I know than weight of my vote can decrease in time. But if my voting weight decreased from 0.03$ back to 0.02$, it must mean that there is a lot of people buying steem power so every vote results in smaller weight. But it doesn't make a sense because in these 4 days price of STEEM and SBD decreased sharply so people are selling SBD, steem and powering down...
All right, these amount are not so big but it's really demotivating to invest more money into Steemit.
As usually, I appreciate every comment!
It's not like that. The value decreases because more and more tokens are being released and the market interest stays roughly the same or even decreases too. It makes both your steem power and the market value of the tokens lower.
But inflation level is just 9.5% per year, it means a supply of tokens increase 0.03% every day. So more important variable must me selling of STEEM holded by speculators...
But people powering down and selling their steem would actually increase the value of your vote since there would be less overall steam power in the system. So the ratio of your steem power to the total steem power would increase. Of course the buying side would probably immediately power up and the price of your vote would revert to the original state, but it would not go down. It can only go down by other people powering up with newly generated tokens. So I would guess the inflation level has to be higher than they state. Unless I'm missing something.
Actually, what's will happen with STEEM when you power up? Is that STEEM burnt (like when you promote your content with SBD) or is it sent to some account? I think it's crucial.
I agree with you that powering up by other users cause me decreasing voting power...and powering down cause me increasing voting power. But what happen with STEEM? Burning them after powering up and creating new tokens after powering down would be logical. So when whales power down, new tokens are created and price is decreasing. But it should cause me increasing weight of my vote!
I think that both steem power and steem are treated as one as they are always "converted" 1:1. So it probably stays where it is and just changes state. The only think I wonder is whether powered down steem is being calculated into the total steem power pool when assigning personal vote value. I will have to read about that.
EDIT: Just FYI the value of your voice is 0.027$, so you shouldn't worry. It just shows the two digits, but you will still get the correct amount.
Nobody interested in?
I would also like to understand why two times after powering up I reached 0,05 Voting Power (then even upvoted posts with those 0,05 VP) ... and that it indeed somehow, for no apparent reason, went back down to 0,04. Counting that I have approx 550 Steem Power...
It's depressing, makes it too hard to climb.
But you guys mean it has something to do with the market? I know nothing in there to be honnest..
Upvote value is based on STEEM price too. When STEEM was 6$, upvotes were worth more than now at 0.8$.
Thanks!