New days, new rewards system

in #qurator4 years ago

Hi everybody, Qustodian here.

New rewards

As some may have noticed we have entered the era of liquid STEEM printing. This happens when the debt ratio exceeds 2% and some of the SBD rewards are converted into liquid STEEM using the feed price.

Given that the feed price mechanism is pretty much a big middle finger to authors as your SBD gets converted into a much smaller amount of STEEM = reducing post earnings.

This means SBD is becoming more valuable.

New multiplier system

The result of this wonderful new gem means a new dynamic multiplier for qustodian is necessary to ensure people are being fairly compensated for using the service. I have not quite worked out what this needs to be, but I will keep everyone updated.

Thanks for your time,


I sent in 2. 403 SBD for upvote first time ever trying a buy upvote after a qurator recommendation. Showing my sister how she might earn some extra rewards on her posts. I was told 2-3x the amount sent, but my upvote was only worth 2$ and I wont get all that so did I send to much or was there a mis understanding. I received no refund or overpay, as of yet. Curious If I have missed something important here. ?

Are you talking about the refund sent 7 hours ago?
qustodian transfer 1.828 SBD to soundlegion Refund-Partial: Refund picked up on re-check. @soundlegion/20180324t201551460z-shavon-bonnie-legion-dragonfly-acoustic-drum-bass

The bot used 0.575 SBD of the 2.403 sent, refunded the rest and gave you a 1.53 upvote

you are golden my friend. I see the refund. when I logged in this morning nothing updated correctly and I didnt see anything in there. My first time on a paid upvote so wanted to just make sure I had done everything correctly and wasnt missing anything. I think i see the flow now. As of now I think was def worth the send through, much thanks for your response and patience with my learning process. big ups to you

@qustodian. Your post is very confusing. Could you please clarify everything? What do you mean by:

  • an era of liquid steem
  • the debt ratio
  • converted using the price feed
  • price mechanism
  • SBD is becoming more valuable
  • dynamic multiplier

Thanks in advance from a confused reader.

era of liquid steem = STEEM is being offered as part of the rewards
debt ratio = there is a limit to how much SBD is allowed as a percentage of the STEEM market cap
price feed = my blog has posts on how the feed is used to calculate payouts
SBD more valuable = if you print less of something its supply is reduced, more limited supply more value
dynamic multiplier = 2.65 is a fixed upvote multiplier, dynamic means it changes to compensate for reductions in SBD received

Just noticed I got a small Steem payout today and was wondering why. Thanks for keeping us all up to date about what's happening.

Me too, glad for this post @boontjie

My head stilll hurts. Pictures anyone??? Lol

:) You don't need to understand. Just letting everyone know that there is going to be a change to Qustodian. The impact of the printing of STEEM is small now, so the current system will still do, but in future I need to do something about the multiplier. More importantly use the webserver to tell people what the current multiplier is. The good news is that it will likely not be less than 2.65.

Hello, I accidentally sent all my SBDs to you but I wanted to send only 0.7. Can I have the rest back? I tried contacting the discord server, too. Thank you.

Would it be best to put some SBD to the side in case value increases dramatically? Or will it be more of a subtle change?

There are three scenarios:
SBD Prices go up => More rewards, more SBD needed, we hit the 2% limit sooner and start converting SBD to STEEM at an abysmal rate. SBD increases in value quickly

SBD Prices stay the same => Current condition

SBD Prices drop => We are printing less SBD. So less SBD overall and no STEEM printing. SBD maintains its value.

How dramatic the change depends on the market. We have doubled overnight before.

When I ask you to return sp I lent you, what should I do?

Sorry I don't quite follow?

how this bid bot works ???
I have sent 0.04 sbd to try out but no upvote from you @qustodian

I got a msg that You are not authorized to use this service. Please contact the qurator group about access.

So how to join qurator group to get access ????

Please go to @qurator

Eeeeh!? I came to check the blog accidentally...What happened to the poor and useful @qustodian? Someone doesn't like it helping minnows?

It was a phising attack, the bot was taken over and spamming more phising link comments.

I browsed your comment and I believe that you wrote it was @grumpycat? A takeover is even a worse explanation.. in the meanwhile I kept happily to use your bot without realiseing.. this looks to me like the result of a permanent flagging.. sorry to point out, it's not mere curiosity. Apart I'm a bit shocked, I truly want to know for the sake of better understanding this place (as your bot is just good and I used it almost everyday).

The comment was grumpycat. If you hover over the links in that comment you will see it is pointing to 'steemil' with an 'l' not a 't'. The comments were being used to try and compromise other accounts. It has nothing to do with the actual grumpycat account, I clicked on that link myself when logged in as Qustodian.

Steemcleaners flagged two comments, but you will notice they have a million or so SP. Two flags trashes an account.

I don't really post that much on Qustodian, so there hasn't been any opportunity to restore the reputation.

Unbelievable. Couldn't steemcleaners unflag you after it was fixed? The steem echosystem needs badly a change in direction (hard fork?) in favor of something including a dispute resolution mechanism or simply a third organism with the purpose of safeguarding the reputation in case of abuses. Of course, I will keep using the bot and give my support. Too bad for us minnows to see one of the few useful tools we can use vandalised like this.

It was needed, it is better to make the comments invisible if the account is being used to steal others account keys. We tried to work with steemcleaners to get the account reputation restored by editing the post and getting it unflagged. The edit did not work, but we tried a delete and it did. The flag stuck. We will rebuild the rep. It will take time, but we will

Thanks for your time in clarifying this! All the best.