We all just lost 37% SP!
So with the crash of the Crypto market, Steem has now passed SBD value.
So what does this mean for you?
With each post you make you are rewarded 50% of the auther payout in Steem and 50% in SBD.
So lets look at an example. Six days ago I had a post that was valued at $29.17 USD
For my author pay out was $24.886 USD and I claimed the following:
Claim rewards: 12.443 SBD and 2.327 STEEM POWER
If you notice, the SBD is the equivalent amount as the US dollar value of the post.
Now notice the SP or 2.327. It is calculated on the average 7 day price of Steem. So for the post it worked out to $5.347 per steem. So it took the 12.443 and was able to purchase only 2.327 steem.
Now on the internal market I could have taken the SBD and converted it to SP. Last week the rate was around 0.75.
So that means I could purchase 1.33 SP for each SBD.
With the 12.443 I would have bought 16.591 SP.
So the total post would have been worth 18.918 SP.
Now lets look at today.
Since the Steem price has dropped, so will the USD value of your post. Lets say the average price of steem has drpped from $5.357 to $4.34. So my post that paid out $29.17 last week may only pay 81% or $23.676 and my Auther curration would be $20.199.
So lets convert that to see how much SP it would be worth.
So because the price is lower we would still receive 2.327 SP
Now the change happens in the SBD price. We only recieve $10.110 SBD.
And to make things worse the Steem to SBD ration is now at 1.04!
So you can only buy 9.711 SP with your SDB.
9.711 + 2.327 = 12.038 SP
So your Post value in SP has dropped from 18.918 down to 12.038!
So your posts are only worth 63% SP as they were this time last week! This means that you have to work 37% harder!
Darryl (@dadview) is a loving husband and father who enjoys spending time with his family no matter the activity. If you enjoyed this post, please up-vote and/or Follow @dadview on Steemit
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You will actually get a little bit more steem if the price is lower. When it calculates your payout it should be
Total post amount- 25% curation = X
X is then divided by 2 and this amount is given in dollar equivalent so if X was 8 thenyou would get 4 SBD and USD worth of Steem. So if Steem is worth less then you get more steem for that USD value, but this is offset by the value of your post being less of course
This formula is a bit skewed just now because SBD was/is so high that the witnesses all upped their price feed so it isnt 50/50, More like 80/20% odd
Now my head hurts
I am with you.
Trying to explain to my husband who isn't Steemit addict, makes my head hurts 😅
Yeah good luck with that. My wife thinks I am nuts when i try to explain it all!! :O)
Ha ha, yeah, I knew my math wasnt exact. Hopefully it at least got the point accross.
And maybe buy steem...this recent crash really got me to thinking about the importance of patience in converting SBD to steem, or USD steem - now's the time to do the later I think, and just hold SBD, maybe?!?
Possibly.
I have currently been sitting on some SDB and being patient!
You know what they say - what goes up must come down! Hopefully just a minor downtown, all we can do is keep creating posts and supporting each other.
#thealliance
36% harder - sounds like a good challenge!