Hard Fork 19: New Voting Power Explained
With the new proposed hardfork - read more from @steemitblog here - a change to how voting power is calculated may soon be upon us.
In the past, casting a vote would knock your voting power down from 100% to 99.5%, a change of .5%. The new proposal is to change that figure to an even 2%.
(Image via TShirtVortex)
Under the old .5% system, one could vote 40 times per day and end up near 100% voting power, as a full recharge takes five days (20% per day).
If HF19 were to pass, the number of full-powered votes one could cast would drop to about ten. I say about, since each vote cast isn't always taking away a full 2% each time.
Let's use one of the analogies that @steemitblog used to help explain.
Imagine if you will a swimming pool filled with 1000 gallons of water. If water is removed from the pool - perhaps by a monster cannonball - it immediately starts to slowly fill back up.
(Image via Yelp)
By voting, you remove 2% of the water, or 20 gallons. That leaves 980 gallons of water in our fictional swimming hole. If you cast a second vote right away, before any substantial amount of water has been added back to the pool, you'll be removing only 19.6 (that's 2% of 980) gallons of water.
After these two rapid-fire votes, one would have 960.4 gallons of water in the pool or an equivalent 96.04% voting power, instead of the expected 96%. It's a small difference, but important nonetheless.
Please feel free to add your own explanations, corrections, critiques or ideas. I'm all ears. Thanks for reading!
What the Fork :(
Gettin ready to fork it!
This was very helpful thank you for sharing!
Nice explanation. This is a simple change but one that I believe will have profound consequences. It basically allows people to punch above their weight if they so desire. And if not, just reduce your voting power with the slider and carry on as before. This should help make manual curation more competitive with people who use bots (or Steemvoter :-) ) so both styles can be enjoyed depending on your preference.
I intend to still use my Steemvoter rules with reduced voting power (so my auto-votes are about equivalent in strength to what they are now) to support a wide variety of people. But I will also try to manually curate a few posts per day and those lucky few will get my 100% power super-votes.
I've been using SteemVoter as well but have a fairly exclusive list of people that get the auto upvote at 100%.
Luckily, they don't all post every day and almost never more than 2 posts a day. Once HF19 is launched, I'm going to let it run as is for at least 48 hours before I make adjustments. Unfortunately my manual voting has been greatly curbed by a certain VIVA project.
Hehe, VIVA does tend to be a bit of a time sink. Ah, first world problems. Got to be choosy about what things get my limited attention & time too.
Maybe we should add a vote limiter feature to Steemvoter, say something that limits your votes on a particular user to X times per day. There are some good content creators that post quite frequently, and this way you could still have voting rules for them without worrying that they will drain all your voting power.
Is there anyway to see your voting power % or recharge rate? Thanks fo rthis!
You can check it on SteemStats.com by @jesta or steemd.com
Ah ok, thanks!
Thanks for the update!
interesting
Awesome post and I am going to go check my Steem power! DR
So, this means that someone who's vote currently isn't worth 1 cent can choose to use more of their voting power and have an impact? Because that would be cool.
It will automatically be worth 4x more at full power.
But by having fewer votes to cast, doesn't that bring the earnings potential down to publishers and voters? Aren't you making it where people knowing they had 40 votes that would throw votes to average postings more often? So now lots more Zeros for the beginner? I mean, I dont care really, I plan to be an investor soon but the first read just sounds like a cheat to the community. But with my knowledge of it all, i probably should even comment.
You can choose to vote at less than 100% and still vote for just as many people so it shouldn't be too detrimental.
Thanks man, we need to deal with it and see if it is beneficial for the individual or not.
Why, though? It is hard enough to get a vote as it is.