RE: Understanding Steem Economy, Its Currencies, and The Reward Distribution System!
Whoa, that was interesting, comprehensive and impressive! It took for a while to read it. I can imagine how huge work it was to write it, not mentioning the time-consuming information gathering before the post! Thank you @ ilyastarar, I think that was the more informative post on the topic I've ever read on steemit during my staying here. I'm sure that I will read it again a few times.
It would be nice to know the exact time windows of curation in the first 30 minutes. You wrote that 'Curation reward keeps increasing up to 30 minutes'.
I met the expression of STU (steem tocken unit) once, maybe in @dragosroua post. How does it fit into this currency system you described?
Thank you again, it's a great post, definitely worth for an upvote and resteeming!
Thank you for your feedback. I have linked to @dragosroua's post on SBD in this post as he's one of the best sources to learn from about the economics of Steem. The STU is short for Steem Token Unit. He's the developer of Steem.supply app and there's a rewards calculator on its site. The term comes from there. The explanation is given there if you open the link. STU is his own term.
I wish I was but I am not a programmer. Otherwise, I could have fetched the code and explained the Curation window to you. At the moment, 30 minutes and afterward is the time when upvotes bring maximum rewards (provided you are the earliest voter). Before that, every minute minuses a portion of curation rewards. This portion is added to the author rewards. If you vote the moment a post is published, there is zero curation reward.
20-30 minutes is thus the best time to vote on undervalued posts or the posts with low rewards at that time but expected to get bigger votes after yours. Again, 20 minutes will have a slight penalty and your curation reward will be less than 25 % of your vote value.
Note:- The curation reward system will be updated in the next fork and we will have a 15 minute window, instead of the current 30 minutes.
Thanks for the quick answers. It's really useful to know that the initial 30 minutes will be decreased to 15!
I impressed with the so much information you have shared here including the link to some author in order to complete your topics about steem economy esp for newbies like me. I am still struggling to understand but slowly will get through. However, I have one question to ask, how early is the earliest voter here? Thanks in adv ;)