Today I Will Learn Upvoting Value?
My apparent worth of one single upvote is $0.66, yet I don't even give a cent on some posts. Can anyone point me in the direction of how voting power works, the monetary side? When I vote on posts without any $, it may give a penny, if it already has multiple dollars then it will be the true .66 cents or so. I am just curious how the formula works. Thanks Steemians!
Yes I'm interested too. Nice post!
The reported vote worth from the Steem Dollar website is not accurate for the curret rate of Steem. That would 've been your vote worth a the peak of the Steem token price from a couple of months ago...
That makes sense, but what about when I upvote, for example, a post that has $20.00, my single upvote can boost it around 50 cents?
That is different, it is just the way the voting algorithm is designed to work... the more a post has already accumulated, the more each additional vote adds to the reward. So if you vote for a post with aleady $100 you will increae the reward with even more, but if you are the first one to vote you may not even be able to give it $0.01...
It follows a power law if I remember correctly. This is spelled out in the white paper
Ok thank you, I will check it out. I guess my info is from an outdated website. I figured they would have it programmed to follow today's prices.
Yes I think it is a square law.
Yes, I am very interested as well. . When we vote nothing seems to happen. It can be very discouraging for people. Definitely when our vote is suppose to count for something, but yet seems to be of no value in the end. Just curious on how this formula works.
very nice post greg....i can see many newbies like me here got the same question as you...hope we get a decent answer eventually....
Thank you, it looks like it was mostly answered above.