Steemit Crypto Academy Contest / S10W5 -: Getting to know Mvest
This week's topic on crypto academy contest is quite interesting as it centers around educating steem users. The topic is Getting to know Mvest || Knowing Mvest.
Most at times we see the mvest value besides our steem power when we use various steemit apps in the course of our journey in steemit. That makes the contest very needed and timely at this point in time.
Using the contest tips, I will be giving more information on the above topic.
What is Mvest?
Simply put, Mvest can be referred to as power tokens that gives its holder or owner the right to vote or participate in certain decisions taken on the steemit platform.
These voting rights or power includes but not limited to content rewards, election of witnesses, decision on implementing certain decisions in the steemit proposal.
The quantity of mvest an investor has determines his influence or power over the decisions to be taken.
How does a person get Mvest?
The amount of Mvest an investor have is determined by the investors vesting power. So simply put Mvest amount is calculated using the vesting power of an investor. The more vest you have, the more Mvest you have too.
The vesting power is gotten from the quantity of steem power an individual have.
What is the relationship between Mvest and Steem?
Like I earlier stated above. The vesting power of a person is determined by the quantity of his steem power. So the question now is how is the steem power gotten? Steem power can be gotten by powering up liquid steem.
The liquid steem can be acquired either by buying from the crypto market, or someone in steemit can transfer to our account.
Steem power can also be gotten through creation of content in the steemit platform, where we are reward both in liquid steem and steem power.
Steem power can also be acquired through curation rewards.
So If I have 2000 liquid steem and eventually powers it up, that means that I have 2000 steem power. The quantity of mvest is them calculated using the available steem power.
Currently, 1 sp =1,759.289376V
(conversion ratio as at time of writing)
1,000,000 vest = 1Mvest
so this implies that the investor with 2000SP will have a total of 3,518,578.379333V as can be seen from the screenshot below.
The investors Mvest will now be = 3.518Mvest.
Remember that steempower is steem being held in steemfund within the steemit ecosystem. So without steem, There would be no steem power, no Vest and no MVest.
So steem is directly related to MVest.
How many Mvest does your account have? Show screenshot.
Currently, I have a total of 1,644.139 steem power which is equal to 2,896,648.160518vest.
Going by 1 MV equal 1 million vest, therefore, my 2,896,648.160518 Vest is 2.893MVest.
We can also go by the quantity of steem per MV as seen in the screenshot below
1MV=568.46691594737 Steem
Therefore, my 1,644.139 steem will be equal to 1,644.139/568.46691594737=2.892233398068531MVest
Assuming that your account has 35,000.00 Steem Power, how many Mvest is it equal to?
Assuming that I have a total of 35000 steem power, the vest will be 61,575,105.50089 Vest.
Therefore, the Mvest = 61.575MVest.
Going by the quantity of steem per Mvest,
35000SP will give 35000/568.46691594737
= 61.56910634222446Mvest
My observation while carrying out this task is that I noticed that the conversion rate of steem power to vest is not constant. It changes anytime.
Conclusion
It has been great working on and doing research on this topic. The Vesting part of this ecosystem helps in reducing the supply of steem in the market while holders also earn from doing so and they enjoy certain privileges too.
I have added to my knowledge while carrying out this entry. I enjoyed the experience. Thank you dear professors and organizers of this simple but unique contest. I thereby invite @mesola @goodybest and @xkool24 to take part in this contest. Success to all who have taken part and who are yet to take part including I that have taken part.
All screenshots are mine and they are taken from my steemworld page
This is my introductory post here
Es muy interesante que los usuarios realicen Steem Power y pueda tener Mvest como la acción de un inversionista. Eso le da sentido de pertenecia, obtiene poder de voto mayor, mejores ganancias e influencia en la red. De allí la importancia del compromiso para invertir a trav2 del SP.
Saludos y éxitos.
This is the interesting part of steemit. Let's keep increasing our steempower so as to keep increasing our vest which will translate into MVEST.
Thank you for your comment. I appreciate
Congratulations! Your post has been upvoted by @steemladies. The community where the Steemian ladies can be free to express themselves, be creative, learn from each other, and give support to their fellow lady Steemians.
Thank you so much @steemladies for the support
What do they say about never being too old to learn? (•ิ‿•ิ)
Well, I learned a lot today. Mvest is the one subject I knew very little about except for the Mvest Group in South Africa.
One thing I do know is that I've read that 1 MVEST = 1 million VESTS.
Good luck with the contest!
We learn daily and one is never too old to learn. I learn from you and others. We all keep learning so long as we are still alive. Thank you for your wonderful comment.
Literally, it could mean this in a different company as you said. But we have a different view here in steemit.
Glad to learn from you too.
You were right about 1 MVEST = 1 million VESTS. Thank you
Ah! Okay. I thought I had it wrong.
Wishing you a beautiful day!
TEAM 4
Congratulations! Your post has been upvoted through steemcurator07. Good post here should be..Thank you @solaymann for the support
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
Great job and well done ma
Thank you
my Twitter share
Hello ma'am, It is great to read your post.
You have discussed this idea in another way which is wonderful to learn, Mvest is assets of the user on steemit. You said that Mvest gives holder the rights to vote or participate in certain decisions which I did not knew. It is good to learn it from from you ma'am.
You are having greater stake in steemit which means that your influence in steemit is greater. May you grow your SP much more.
Your calculation about 35000 SP is also precise which is wonderful.
Best of luck for the contest.
regards @amjadali00
Greetings Mam @ngoenyi
Just read your publication and gained a lot of knowledge about Mvest which is a unit of measurement of Steem power on Steemit platform. It is true that the Mvest is determine the overall contribution of a user to the Steemit platform. I'm agreed with your point of view that the Mvest is the asset of Steemit users. I really enjoyed reading your impressive publication.
My best wishes are with you 💖