You don't understand vests? Join the club - neither do I. Having said that, let's look at what they ARE: shares, if you will, in corporate steemit.com. SHARES. Got that?
While I don't claim to fully grok "vests," I do understand shares.
I own 2400 shares in a gold mining venture called Spanish Mountain Gold (SPA:TSXV). Other folks own hundreds of thousands SPA shares.
At the Annual General Meeting, I, a shareholder, get to vote on who is nominated to the Board (among other things), and so do all the OTHER people who own shares.
So when it comes time to vote for the CEO, let's call him "John Doe," and his opponent, "Jane Doe," I cast 2400 votes for Jane...but another guy casts 1,500,000 votes for John. What do you suppose happens? We are both shareholders, but my shares (VESTS) aren't significant. However, I can increase my shares (vests) by telling my broker to buy more.
Still with me? OK - you want more vests? Buy more shares:
Unfortunately, rather than show you your vests the UI lists your steem power as Steem. But, its not real steem. In fact, the number shown there is nowhere on your account in the blockchain. Thats why i have mine covered in noes. What that number is really telling you is the amount of steem it would take to purchase the amount of vests you have right now.
This is very important, because until you understand this, youre going to be spinning your wheels. Steem power looks like steem in the UI, but its not.
So how do you get stock in the company? The same way you get stock in any other company, you buy it. With Steem. Thats what happens when you power up. You're buying vests in exchange for Steem. (sigmajin)
When I finally figure it out, I'll let you know. All I'm sure of so far is that vests are accurate, SP are not. My guess would be that someone bought a load of steem, which upped their vests without upping their SP, but the system is far too complex for my easy answers :-(
i dont understand vests.
why is my vote worth less than someone with a lot less sp?
although they have higher vests?
Confused?
You don't understand vests? Join the club - neither do I. Having said that, let's look at what they ARE: shares, if you will, in corporate steemit.com. SHARES. Got that?
While I don't claim to fully grok "vests," I do understand shares.
I own 2400 shares in a gold mining venture called Spanish Mountain Gold (SPA:TSXV). Other folks own hundreds of thousands SPA shares.
At the Annual General Meeting, I, a shareholder, get to vote on who is nominated to the Board (among other things), and so do all the OTHER people who own shares.
So when it comes time to vote for the CEO, let's call him "John Doe," and his opponent, "Jane Doe," I cast 2400 votes for Jane...but another guy casts 1,500,000 votes for John. What do you suppose happens? We are both shareholders, but my shares (VESTS) aren't significant. However, I can increase my shares (vests) by telling my broker to buy more.
Still with me? OK - you want more vests? Buy more shares:i am wiith you so far......
i usually convert sbd to steem, and then power up from steem.
my SP goes up, but my vests are 0.
i am trying to figure out why my votes are worth half of someone who has 10 percent of my SP.
When I finally figure it out, I'll let you know. All I'm sure of so far is that vests are accurate, SP are not. My guess would be that someone bought a load of steem, which upped their vests without upping their SP, but the system is far too complex for my easy answers :-(
thanks for the help... in this case i think it was delegated steem power that for me just disappeared.
BTW, do you know of any good tutorials on how to use steem voter?
Try searching - that's what I do. Re SP: Get LOTS, then use it to generate curation awards (see STEEMVOTER).