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RE: [ENG]The psychology of investors applied to Steem. // [ITA] La psicologia dell'investitore applicata a Steem.
Your response is kind of condescending, I have been here since July of 2016 (see my main account @onthewayout). I dare you to show me where in the steem documentation does it state that the payouts work in the way that you described.
I'm sure about what i've said, but since you're the one who's saying I'm wrong, you should be the one to prove it.
No, there are plenty of posts that explain how the payouts work. If the system worked the way that you described it the amounts of steem created would increase when the price goes down. That never happens, the inflation rate is predetermined and it is not tied to the price. Go read the white paper at page 26 Current Allocation & Supply.
Also, have you ever noticed that when the price was higher the SBD payed was greater than what it is today? In your model you have a fix SBD payout...think about that.
I sense a great deal of confusion in you. Right because there are plenty of posts that explain how the payouts work, I'm surprised to hear you say that.
First of all:
Wrong. See what happens today to my post:
Kind of a funny coincidence, the system used the steem median price to calculate how much SP my post has made.
The value of SBD is fixed at $ 1,00. What changes is the vote value.
The higher the values of steem, bigger the amount of the vote.
The higher the values of the vote, bigger the amount of SBD earned (every time pegged to 1$).
The higher the values of steem, lower the amount of steem earned (higher steem median price).
And while it's true that the lower is the value of steem, lower our post will earn, it is also true that the lower is the value of steem, lower authors will contribute with their posts and so the reward pool will be divided among less posts which will earn more.
The amounts of steem created would be always the same but divided among less contributors (that in the end will earn more steem).
This is my last answer and I hope that we have finally sorted this issue out.
The system does not use the median price to calculate the amount of steem earned, It uses it t calculate the amount of sbd when applicable. You are confusing cause with effect. Check one of your posts with similar steem payouts at different median price points.
In your example if we use the median price and multiply it by the steem earned you get the dollar amount that you see. If you divide the dollar amount by the feed price you get the amount in steem. Division and multlipication are inverse operations. It doesn't mean that the system uses the feed price to calculate the the amount of steem in the payout of any post. If it did the inflation rate would skyrocket when the price goes down...it doesn't...that is a fact.
I am done with this discussion.
The lower is the value of steem, lower our post will earn because our vote value are less valuable (but it doesn't mean that we earn less, because less contributor participate at the split of the rewards pool). That keeps inflation in check.
I am done with this discussion, too.