Confusion regarding the time factor: Rate Limited Voting and Delayed Payouts
Going through the STEEM Whitepaper, a few questions pop up in regards to how voting power and payouts are affected by time.
If I understand correctly, I can vote with 100% of my voting power multiple times, as long as I wait a certain period of time between each vote.
Say I have 100 Steem-power, log into Steemit and upvote one post at noon and another at midnight. Bob on the other hand (also has 100 Steem-power) logs in and only upvotes 1 post in the same 24h period.
In this scenario, I would effectively have twice the voting power as Bob, correct? Since both my upvotes had 100% of my 100 Steem-power behind them. In other words, in the same 24h period, my total votes weighed 200 whereas Bob's total votes weighed only 100.
Is this correct?
If so, what is the wait time to regain 100% voting power?
Second time related question is regarding the delayed payouts.
The Whitepaper states that "Once a payout is made to the user and all votes are reset to 0. If votes come in after the payout then the process begins again." but it is unclear when the payout occurs.
Let's say there is only 1 post on the entire platform. It was posted at noon and got zero votes. When does the "door close" so to speak? When does the counter go back to zero?
Now say the next day, another post is posted at noon and gets a few upvotes within the first minute, then nothing. When exactly is the payout for that post (to the OP and its participants)? When does the counter reset to zero?
Also, what about when there are multiple posts, all created at different times throughout the day? What is the "Snapshot time" where all voting power is counted and where the payouts are sent to the correct users? What if a post had 23 hours to accumulate upvotes while the other only got 30 seconds?
Can anyone clear this up for me? Thanks in advance!
With respect to voting power:
If you vote less than 20 times per day you are not utilizing your maximum power. If you vote for 100 items per day then your average voting power will be about 1% of your voting power. Effectively, each day your voting power is spread over all of the posts you vote for. The network attempts to calculate the average number of votes-per-day your account makes. It assumes at least 20 votes per day. After 24 hours it assumes 20 votes-per-day average.
With Respect to payout time:
If no one votes for your post, then the payout clock never starts. As soon as someone votes for your post, a payout date is set for 24 hours from the time of the vote. If a second person votes, the a new payout time is calculated as the weighted average of 24 hours after the respective votes.
There is no snapshot time, everything is continuous and rotating.
If there is no snapshot time and the blockchain pays out different posts in a continuous/rotating way, how does the chain know what amount to pay to which post?
When the countdown to payout a specific post hits zero, is it paid out then? Or does the value stay locked up until the blockchain pays everything out at once? I recall you saying the payouts would be once a day, is that correct?
I tried to understand how the delay works, and @fbdan provided me this equation:
PayoutTime = SumOf((TimeOfVote[x]+24h) * weight[x]) / SumOf(weight[x])I am very glad to be able to read all your posts.
although I have to translate.
because my english is not good.
I've read your post to your first post.
post 2 year ago.
I can take a lot of knowledge from every post you.
i can learn from you sir @cob.
Thank you very much
Sie @cob.
thanks to your post
I can learn to rise in steemit.
I hope I'm not spam.
thank you very much sir @cob