September 13th Hard fork to reduce voting power target from 40 votes per day to 5 votes per day
Remember when I said "brace yourselves, major changes are coming"
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Rewards are always 10% of market cap. You are wrong that less rewards will be given out. It's just that votes contain more concentrated power.
yes, the rewards will not be reduced, so then 1 vote that is worth 20 cents now will be worth $1.60 after sept 13... right?
So fewer bloggers will get a greater percentage of the rewards?
I think it will help the smaller/newer bloggers only if the votes are distributed widely.
If all the whales concentrate their votes on just a handful of bloggers, then we'll still see $2000 posts and everyone getting $0.05. But if the whales all vote for different articles from each other, then yes, there won't be any $2000 posts and lots of people who are hardly getting anything at the moment will get more.
So yes it's a good change, but very dependent on the human dynamics working out properly and no cartels forming.
Less votes per account means less ability to distribute votes widely. Restricting votes to 5 votes per account would obviously narrow the payouts unless I'm getting something wrong. It's not like you can reward more people with less votes.
The rewards paid out are always 10% of the steem market cap, so the amount of rewards are not going down, just the voting power is more condensed, so instead of 40 votes for 20 cents each, it become 5 votes for $1.60 each... 40/5 = 8.. then 8x20 = 160
by using the vote slider to adjust the weight of each vote
5 votes per day at 100%
10 votes at 50%
20 votes at 25%
25 votes at 20%
50 votes at 10%
100 votes at 5%
good to know, thanks..
Hard forks are great.
I'm a bit scared I gotta admit!! I hope it works out for the best though.
yes, I know the feeling, just now I went to upvote your comment and saw that I now have the option to adjust the weight of my upvote.. that's great, but I don't think adjusting the amount i pay per upvote has anything to do with how many votes per day
I wonder if this increases the value of the first 5 votes that each person makes ? If that's true, then maybe someone who writes a good post and gets 100 votes from regular people, would walk away with $100 (if each vote was worth a minimum of $1) I think that would be really motivating to a lot of writers. Frankly some of the $2000+ articles are overpaid imo. As for the whales, we will have to see if they vote for the same people or if they vote for new talent. Also you need around 300sp before you can see the slider when you vote.
The rewards paid out are always 10% of the steem market cap, so the amount of rewards are not going down, just the voting power is more condensed, so instead of 40 votes for 20 cents each, it become 5 votes for $1.60 each... 40/5 = 8.. then 8x20 = 160
by using the vote slider to adjust the weight of each vote
5 votes per day at 100%
10 votes at 50%
20 votes at 25%
25 votes at 20%
50 votes at 10%
100 votes at 5%
If blogging doesn't pay, time to move onto a different income stream. You have to decide what the minimum amount you'll be willing to accept for your time.
this change will kill steemit.... watch people making 5 upvotes and logging out... driving the inactivity to a higher number.... also if this update is to reduce the whales power than it will kill the new members... it's like when a whale is crying members with less steem power are dying... also is that why everyone is powering down?? cause after there is not much benefit to keep steem power...... including you that you said you won't power down until you can power down for 10.000 dollars per week that's was your target but i see you powering down......??
Possibly the worst idea ever. No one will ever waste a vote on comments. Flag spam and plagiarism? nope need that vote to maybe get a 1 cent curation. Like post but not going to vote on it because I might like something better later on and I need my other votes for myself and my friends why post stuff i like everyday.
you can still vote as much as you want, just wont be worth as much the more you do it, I think because it is affecting everyone the value of votes will go up for everyone as the price of steem goes up
i just delivered a bounce house - how many have you done today Craig? and wheres the next Water slide video? mmm?
where is your video of you delivering a bounce house, I would love to see that
Not true. If you vote more than 5 times a day you will go to 0 SP eventually and not be able to vote.
after the hardfork, at 15% to 40% voting power you can vote up to 20 times per day
Sorry but wrong again. I don't have enough SP to get to choose how much power to vote with.
Like that brass in the background. I'm not sure what to think about the 5 vote thing. However, I agree it's about time to calm down these blood sucking bots. Hopefully it is for the development of the content!
Thanks for the heads up in the video.
Another step towards freedom baby.
Hoping it will bring steemit to a closer a better place.