You are viewing a single comment's thread from:

RE: The attention from the future

in SteemLeo5 years ago

This, while correct, is very misleading:

The blockchain feed price is currently 20 cents.
A post that earns 10 dollars total will attract 50 Steem to it, and this will be split between poster and curators. 25 STEEM each. The market price for STEEM right now is about that 20 cents, so that means 5 dollars each side of the 50/50.

The blockchain feed price was 2 dollars.
A post that earns 10 dollars total will attract 5 Steem to it, and this will be split between poster and curators. 2.5 STEEM each. The market price for STEEM at 2 dollars will mean 5 dollars each side of the 50/50.

Here is what I submit it should be instead:

The blockchain feed price is currently 20 cents.
A whale whose vote is worth 50 STEEM from the reward pool votes on a post causing the dollar value payout to show $10. This will be split between poster and curators. 25 STEEM each. The market price for STEEM right now is about that 20 cents, so that means 5 dollars each side of the 50/50.

The blockchain feed price was 2 dollars.
The same whale whose vote is still worth the same 50 STEEM from the reward pool votes on a post causing the dollar value payout to show $100. This will be split between poster and curators. 25 STEEM each. The market price for STEEM at 2 dollars will mean 50 dollars each side of the 50/50.

The point is that you don't get less STEEM when the market price goes up. The same amount of SP and Voting Power generates a vote worth the exact same amount of STEEM regardless of the market price.

Sort:  

Yeah, that is better, Thanks!

I did add a bit later:

A 50,000 SP (assume 100k vests) account voting at 100% is identical to a 500,000 SP account voting at 10%.

I still struggle with how to explain some of this out loud :)

Coin Marketplace

STEEM 0.20
TRX 0.19
JST 0.034
BTC 91295.19
ETH 3130.58
USDT 1.00
SBD 2.89