Change in curation rewards to 50% on the Steemit Platform
Change in curation rewards to 50% on the Steemit Platform
Hi Steemians,
Since I joined Steemit about a year ago I have spent time reading and learning different ways to earn Steem on this platform. We have the chance to earn Steem for what is commonly called “Proof of Brain”, i.e. our talents of the mind like writing, drawing, painting, carving, filming, photography and many, many others. This is called an “Author Reward” with author meaning more accurately creator of the Steemit post, as it’s more than just writing.
Point number one
We also have the opportunity to make Steem by “curating” which basically means enjoying and upvoting the creations or products of the “authors” or creators of Proof of Brain activities on the platform. We upvoting the posts, which represent the Proof of Brain activities of others and get paid a percentage of the rewards on each post. This is what we call curation rewards. This was 25% of the total reward on a post but it appears that this will soon change to 50%, which means curation will become more profitable. This is seen by many as an important change to make us all more engaged with others. We all have a bigger incentive to read articles, enjoy photographs and films or enjoy the other Proof of Brain activities on the platform.
While the formula for awarding curation rewards involves your voting power, Steem power and time you upvote, in general we should all see greater curation rewards with this change from 25% to 50% (basically double) and hopefully this renewed emphasis on attracting people to your post to “curate” will encourage authors or creators of Steemit posts to increase the quality.
Point number two
The second thing I wish to emphasize here is that curation is a competition of sorts, with greatest percentage of curation rewards going to the largest Steem power holders who vote on the post the earliest, except the author, who gets penalized for voting early on their own post by losing all their curation rewards. I say this for two reasons; one so you understand the importance of powering up your Steem to Steem power to increase your rewards and two so you understand the profit incentive for commenting.
Comments 1st point
Comments give you two advantages, first you are the author so you get a big share 50% of the reward is set aside for you. And second the competition is much, much smaller than the competition for the post rewards, so your author rewards can be greater.
Comment on comments! 2nd point
Did you know that rewards on comments are also divided up between author and curation rewards. So if your comment gets a reward anyone who Upvotes your comment also gets a reward! Once again few people upvote comments, but it’s free money/Steem and it’s available to those who know about it and earn it by upvoting. Now some of you with low Steem Power May feel like you won’t earn much, but if your the only one upvoting the comment all the curation reward goes to you.
Important note, some of you might be worried that your taking something away from the comment author by upvoting, your not! Your upvote actually increases the total reward and your only getting part of the curation. So in fact when you upvote a good comment you are rewarding the author more and you earn from the curation rewards, which weren’t going to the author anyway!
This is a Win-Win!
I realize that this is a short, simplified explanation of a complex process, but I really feel it’s really the main points you need to understand.
Questions?
Additional thought?
Comment below 😊
Take Care,
Shortsegments
Really? Where did you hear this?
Interesting points. I'm not sure how I feel about the impending change. I feel it just change the behavior of whales but I haven't completely thought it through. I comment often but don't get many upvotes for the comment. Sometimes from the author but rarely from anyone else. I do like your point about commenting. It's definitely something to think about.
Thank you for your comment. You raise an important point. Mathematically speaking it’s probably more profitable to spend time searching for large comments rewards and upvoting them instead of searching for large post rewards due to the high competition for post rewards with whales with lots of Steem Power. But mathematically speaking there’s there’s a small number of whales and a large number of authors, so if you find an author with decent size post rewards and a small number of voters you could still earn good rewards, if no whale has found them.
Plus your right that not all comments get rewarded. Some authors make it a point to upvote all comments and others don’t.
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It's certainly something to think about. Ultimately it needs to make sense for new members to be able to earn rewards. Early adopters like us should be in good shape regardless of the system.
Indeed a nice write-up to understand curation system. I have a question- if I vote a post with 50% vote then does it impact the curation reward coming to me? Or this weight of vote doesn't matter?
Thanks for clarification. So in this case voting on comments is a better idea and because there's very low competition in that which can earn us higher curation reward. Right?
Thank you for the compliment. Yes as I understand it voting power has a multiplier effect so 100% earns the highest rewards. I would suggest reserving that high vote for posts with a good balance of rewards to votes. Posts with high rewards and high votes are attractive, but usually not profitable due to large numbers of voters to share the curation rewards with, late voting and the effect of Steem Power.
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Nice basic idea for the bigneers of the STEEM platform who find as a complex of this platform so they can understand throught basic idea.
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Is it better to curate popular posts or undiscovered posts? There are some writers who don’t have big audiences and tend to get a couple of votes for good posts. I often look for undervalued posts. Is this a good strategy?
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Hi Good Question!
First I think there are multiple paths to success, but they are all dependent on the math. I would lean towards popular posters, if they also earn large post rewards, as long as I could vote early. I wouldn’t vote on a popular post after the first couple hours, unless there were very few votes, due to diminishing returns over time and smaller rewards with a large number of voters. I sometimes divide the reward by the number of votes and then multiply by 0.25 to get a starting point for what my reward might be. But this number is always high because voters with large amounts of Steem Power get a disproportionate amount of the reward. Once the reward split changes to 50/50 I will change this multiplier to 0.50.
In general, I say find authors with decent consistent rewards and then focus on early voting, maximize voting power and Steem Power to maximize your curation rewards. You usually find out who is likely to have high post rewards by looking at their past posts. Also note whether their post rewards are consistent or inconsistent, are the reward amounts climbing, are they declining, does it depend on whether it’s a fun post or serious post, each author is different so look for a pattern. I also suggest searching for articles listing the top curators and consider following them. These top curators sometimes write articles about their methods, and you might get lucky
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Another bad decision by the powers that be. There first was the limitations that RC provide. The author should be getting the bulk of the rewards for their posts.
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Thank so much for this information. 🌹🌹
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Is it better to curate popular posts .
thanks you very much for your informations !
Not really a fan of this. Making a good post involves more work than someone clicking an upvote button. Some people who have almost no Steem, and want to grow will have much more difficulties.