Steemit Payouts
The experiment by @abit and Co. has aroused my curiosity around the daily payouts. How much is paid out each day and how is it distributed?
Thanks to @furion and SteemData we have access to lots of data from the Steem Blockchain in a digestible format
Daily Fund
Steem rewards Authors and Curators with a share of the new STEEM that is created each day. (Currently STEEM is created at a rate of 9.5% a year)
- Each day about 60k STEEM is created and about 34k of this goes to Authors.
- About 16k to Curators and the rest to miners, witnesses and SP holders.
Post rewards are shown as Steem Dollars so if the value of STEEM is up against the dollar then the value of the rewards that are paid in the day will be higher as each STEEM will be worth more.
What do the daily payouts in March Look Like?
###Distribution of Payouts in March by Rep
First Lets look at the distribution of Payouts in March for each day, coloured with the Rep of the authors.
Using a log Scale
From the picture if the rep is above 67 they generally get high stable payouts. The rest of the graph is dominated by the 56 to 67 bracket with a noticeable change in the last few days (during the experiment).
Price of STEEM vs Daily Payouts
One of the key factors affecting the daily payouts will be the price of STEEM.
As you can see if the price of STEEM goes down, the daily payouts will be less.
(The payouts shown only account for author rewards and the last few days may not be fully paid out)
Distribution of Payouts Per day
We should be able to see the impact of @abit s experiment in the following graph. We would expect to see spreading out of rewards among contributors or the average author percentiles payout changing.
Unfortunately as this experiment coincides with the fall in the price it will be hard to pick out trends
Conclusion
I was surprised when I did the calc how little the daily rewards in total actually are at the moment and it highlights for me the fact that its very unfair when a post get a sizeable chunk of the reward fund having contributed little. This analysis does not look at the effect on curation rewards so part of the drop in payouts will be due to an increase in the curation rewards and partly due to the STEEM price.
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AFAIK the total number of Steem going to authors is around 43k. I'm curious to know how did you came up with 34k?
I did a very rough calc.
9.5% STEEM inflation per year gives around 60k Steem per day.
Then 75% of that goes to authors and curators pot with 75% of that pot to the post payouts. This gives around 34k. This seems to also tie in with the daily payout values I was calculating based on author rewards but I stand to be corrected.
Is the 43k including curation rewards?
I was under the impression that the Token Creation Rate is at 100%, from the whitepaper, where did you get the source of 9.5 creation rate (correction in your comment where you said inflation)?
hard fork 16? i think.
A fairly major change was made in December where the rate of creation of new STEEM was reduced from 100% p.a. to 9.5% p.a.
At the time there was also changes made to the distribution of rewards.
All of these happened in Hard Fork 16, there is an upcoming HF 17 where aspects are due to change again. I just found this post comparing some key metrics before and after the december HF which you may find useful.
https://steemit.com/steemit/@krnel/steemit-economic-changes-now-vs-november-16th-fork
Thank you for those figures, I need to contact someone who is in charge of the whitepaper as it should show the edits as new hardforks happen, it's imperative that the dinosaur we have as the whitepaper gets edited with every change to reflect the current state of the platform, it's obsolescence is going to lead to more and more confusion as the platform changes, that and the FAQ.
I agree, it's very difficult to track all the changes that have been made and the future proposals.
the whitepaper is outdated.
I know, I'll do my best to edit it next week.
its 55K to author and curators (the rest is for pow mining and witness pay).
At least 75% of that goes to authors (41.25K). At most, 25% goes to curators 13.75K... but usually the authors get about half of the 13.75K due to reverse auction....
so figure around 47K total author reward pool.
Hi @sigmajin I was second guessing the calc I had done but it seems to tie into what the data is showing. I made some roundings for simplicity in my original calc but the 41k + half of 13.75 it seems higher compared to the daily totals that were coming out of the data I was working off.
The difference in our figures seems to be the starting point 55k to authors and curators. The exact calc I was doing was is as follows
Calculate the Daily Reward Pool
258,779,918 is the Current Virtual Supply (from steemd.com)
9.5% is the annual inflation rate
This new STEEM is then split between miners, witnesses, SP holders and content creators and curators
0.75 is the Reward Pool allocation (the other 0.25 goes to miners and witnesses and SP holders)
48,263 is the reward pool which is then further split between authors and curators as you have outlined which gives something in the 30s or low 40s to authors and this ties in with what the data is showing. The daily payouts to authors according to the data is in the mid 3,000s in early march which ties in with the price of 0.1 per steem. If the authors were getting 47k Steem then the daily reward should be showing around mid 4,000s daily payout which its not.
Any ideas for the difference and why your getting 55k as the starting point compared to the 48k I am getting?
ill check, but im not as sure about the 55K number as i was when i wrote the response... it used to be on steemd but doesnt look like it is anymore.
That would be great, I stand to be corrected on those numbers. I don't think it takes away from the analysis though.I am going to rerun this over the coming days as the experiment progresses and see what its showing.
btw any ideas when the experiment is due to end? I have a great post I want to submit but I am waiting till it's over.
Thanks for this analysis! Interesting thoughts!
Thanks @lemouth. There really is a wealth of data available from steemit. It's a very rich datasource. In the coming weeks I am going to try out some machine learning techniques to see what I can uncover.
I remember having programmed a few python scripts in the past (if interested, it is here). It is indeed possible to get a lot of stats from the database.
This being said, stats for comment would be great too, at this moment where the comments can get significant rewards again.
That's a very interesting post. I'll I may borrow some of your analysis in my approach. It's an interesting way to look at how successful a topic or feature is. Great post.
I also want to incorporate curation rewards, voting, views and comments into my analysis. It takes a bit of work to parse the data and clean it but i have a good base of code built up now so I am getting there. The next thing I want to tackle is sentiment analysis on the text body in posts. Who are the happy posters and how do they do in terms of rewards :)
That's a very interesting program (in both way of the words :p )! I would have loved to help you, but I have unfortunately very little time (and I prefer to concentrate on posting on science topics ;) )
Thanks for the very nice comment btw :)
No worries, you contribute with your support and comments. Thanks again.
Good Analysis. The payment process should be extremely simplified. Then only we can expect a huge number of people come and contribute.
Should authors upvote their own posts at minute zero automatically?
That is the default option and is fine for most people but in the case of a whale there are other considerations.
What happens if you upvote 5 days after or 4 months later?
What is curation rewards time limit?
The curation rewards time limit is now 7 days so you wont get anything if you vote after that. It was up 30 days in the past, but this has changed.
When you vote you get a share of what is added to the post after you vote so it is better to vote before other people if you want to make curation rewards. There is however a penalty if you vote in the first 30 minutes to how much you will receive but this doesn't apply to voting on your own posts, just to voting on other peoples posts.
Id say in your case if your posting just upvote your own posts immediately, it's probably the best option to start with.