Why your income is less than half after HF21
3 major changes happened with HF21, and they're all impacting the blockchain economy.
Posts and comments earning under 20 STEEM (currently about $10 USD in pending payouts) lose up to half their value, which is distributed to the posts and comments earning above 20 STEEM. This is known as the "Rich Get Richer" rule. Most posts and comments receive very little. The average comment on the blockchain doesn't pay out at all (below 0.02 USD). That means most posts and comments, under this new rule, will get robbed almost the full 50%.
Instead of creators getting 3/4 and curators getting 1/4 of payouts, now curators get a full half. Since curation is paid out to those who have invested money in the blockchain, this change harms plankton and fish, which make up the majority of users.
2.5 free downvotes per user, per day. This is already doing some good and shaking things up. Vote sellers are taking a beating, and some have decided to give out free upvotes instead of charging people for them. This change certainly affects our economy, but the first 2 are more vital for this discussion.
That's why you're only getting about 1/3 what you were getting before, unless you're a big investor here! My portion of a 4 cent payout used to be 3 cents, now it's 1!
I do see a glimmer of hope for STEEM, but it's still necessary for creators to be supported and not abused, or the long-term health of this blockchain is still uncertain.
DRutter
Well i modeled for a year on the blockchain part time. I bought 3 STEEM for $10 when i started, now i have 30 STEEM after 15 months commenting posting and curating, which is worth $5. For my $10 and 1 year investment, i now have five bucks. so hopefully they manage to fix things for creators like us. most of us have already given up here, but who knows, some may return if they were going to get paid for good content.
i just looked at your account. I don't see any posts. I do see lots of commenting which is great. So if you have managed to earn 30 Steem doing more commenting than posting, you should be able to earn more now the curation rewards have increased.
I used to occasionally see a payout increase, when I upvoted something. Not often, because I'm poor, but here and there. I haven't seen that happen since the fork. :(
I have seen my vote REDUCE the payout amount and i dont get why. Can anyone pls explain?
And why I care half as much about Steemit right now. sigh Not that I was in it for the money, but when it gets so bad you're almost paying to post, it's getting depressing...
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not sure where you did your math but by my calculation... 20 STEEM is worth $3.40 with STEEM at 17cents each.
That would be the answer if that was the right calculation, but it isn't.
We were told "as long as your post/comment would have made 20 STEEM it won't get pillaged". But that was, like most of Stinc's announcements, misleading. "We're taking two thirds of your income" might have had an even worse effect on mood and sentiment here.
Turns out, it now takes over $10 in potential payouts to end up making the cutoff. What they wrote probably is technically true, but was worded to soften the blow of just how much of our payouts were going to be taken by HF21.
Last week's [Mission: Agua-Possible] post was my first to pay out under the new rules.
It had almost $12 showing, after 6 days - (our 2nd best after a year of posts). When it paid out, looks like the blockchain split that in half (almost $6 went to the curator @smartsteem), leaving 5.82 USD for the creator (me). Ultimately, only 27.597 STEEM (4.66 USD worth) was paid out to me.
From $12 down to $4 and change. Imagine how much more I'd have lost if that post hadn't reached the cutoff?
It's very sad that my charity, 100% non-profit (actually I'm paying a lot to run it), trying to buy a water pump for a thirsty Venezuelan community, is being absolutely pillaged by the new rules! Supporters donate their upvotes to the cause, but now 2/3 of it is being sucked away for others! That's donated charity money! How are we ever going to hit our goal and help these desperate people?
Welcome to the #NewSteemOrder! :)
You can see the glass half full or empty .. the fact is without the HF ... smartsteem would not have been curating and that almost $8 upvote would not have arrived. To get that vote from them you would have needed to have bought a vote. Instead it arrived because they curated your post.
So, you are better off than you would have been. That is the reason the post was your 2nd best. I was not a supporter of the HF but there are some positives being seen and as much as you are not happy and wanted more. You are ahead of where you would have been. There is a couple of other votes there that I believe are the result of new curation efforts but they are not as certain as the smartsteem vote.
So let's take your 11.54-7.92 from Smartsteem and take 75% of the remainder -- you get 2.71.
How is your income less than half of pre-HF21 when pre-HF21 would have given you much less.
Now, having established that you did indeed get more than would have pre-HF21. There does seem to be something odd with the amount of Steem you received. Even though the reward is paid out based on a 3 day average, it appears that average would have needed to have been about 21cents and we know that is not the case.
I would suggest you ask one of the more technical witnesses like drakos or themarkymark to have a look at the payout and see if they can explain how it came out as it did.
You see @shadowspub that is the problem, the main idea behind 50/50 curation rewards was that everyone would now be eager to curate because now the reward is 50%, and yet what we have are curation projects like @smartsteem so a few people can feel that things are looking up. Now, how many people get a SmartSteem vote? Mighty few, the rest of us are getting hit really hard. @Smartsteem is just there so you can point to it and say"Things are looking up', they aren't for most of us, yet the people who backed the hardfork just don't want to accept this. And I am not even getting into the reward curve.
I've praised smartsteem for their change greatly in several places (although to be honest, it was selfishly motivated, as they will do better this way than they would have if they kept doing what they'd been doing). Yes, I benefited, but I've also lost most of my creator rewards elsewhere. I keep track of my income and growth here (currently on week 77) and will soon be able to show what outcome HF21 had on my team's finances. The damage done by HF20 was obvious, subjectively and in the data.
Non-scientific yadda yadda I know, but you won't convince me it was all a coincidence. Sooooo, your optimism is wonderful, but since I don't have much SP (3000ish) I'm nowhere near being in the newsteem club.
I realize that (and have been posting about) the shocks to the economy haven't all shaken out yet, and things are still adjusting. Who knows what could happen next? An entire industry (say bitbots) could collapse, and massive amounts of money could move away from the blockchain, or into some other projects, etc etc. Public opinion can shift. People can get tired of things they first enjoyed. Who knows what will happen over the next few weeks? Wildcard. And yes, wildcard's leave room for optimism.