PSA: You Are Wasting Resources By Voting Before 15 Minutes + Changes in Resource Credit Costs
The old system was if you vote within the firs 15 minutes the author gets the 25% curation. From 15 to 30 minutes the author's share gets reduced from 25% to 0% in a linearly. Eg: Voting 50 cents at 21 minutes would mean author would have 37.5 cents of author reward + 7.5 cents of the curation rewards and the curator would earn 5 cents.
The New System
Now we only have a 15 minute window that give 0% curation to curators immediately after posting and 100% curation (25% of the post rewards) to the curator at 15 minutes. But there is a minor change. Early votes will not result in the rewards that are lost to the curators will go to the author. Instead, the rewards will go to the reward pool.
Set Your Autovoters to 15 Minutes
This way you'll be able to capture all of the curation rewards instead of having hem returned back to the reward pool which would mean that both the author and the curator would be loosing potential rewards. This would also be an inefficient use of your voting power.
So make the changes ASAP!
Good News
RC Equilibration is going well. Here are the current costs for operations:
comments 1,600,000,000
votes 280,000,000
transfers/powerups 260,000,000
Let's see what these numbers mean for an account with 15 SP(Base minimum to function properly under the previous Bandwidth model)
They are not the best looking numbers. But this is a free account. You get to have all this without spending a penny. Companies like Facebook spy on everything you do and you are not getting a free service there. You are the product of a service paid for by advertisers. Take a nice look at few of the Facebook patents. If you want a service, you pay for it. In case of STEEM, you buy a stake in a Decentralized Autonomous Company.
A Special Thanks To My Voters
I don't have much money. I'm actually a guy who quit highschool as I described in a post. STEEM is my biggest investment. I could simply focus my time on more day trading. But I love writing on STEEM and I enjoy interacting with truly smart individuals. Having your votes is helpful to keep doing what I'm doing instead of focusing on more trading instead of writing. Even if it is a tiny vote, I still appreciate your appreciation and the fact that you enjoy my content. So here is a very big very deserving
I was looking for the 15 minute new rule spelled out
but the search facility on steem is less than helpful.
The steem developers didn't so much fix the RC, they just turned it way up. Their math sucked from the beginning, and so it was doomed to failure.
Look forward to them massively lowering the RC allocations when the price of steem goes up.
And, i am pretty sure they still have some HUGE gotchas in the code.
I don't know if it is good or bad that i have so many RCs that it is difficult to get down to 99%.
It's neither good nor bad. It's just normal. The RC system was supposed to normalize over a week. It seems like almost nobody read @steemitblog and started panicking. The RC costs have gone down even more:
and they will keep going down some more and find an equilibrium.
There's one thing that hasn't changed about curation. The order or curation still counts, so curators still have the incentive to do it earlier than 15 minutes, at the expense of getting less than 100% curation rewards.
The change is indeed, that the curation done inside the curation window doesn't give more rewards to the author, instead they are returned to the reward pool.
I can totally see the incentive to vote in the 10-15 minute range. But I had several auto voters set at 0 minutes.
Yeah, so did I, and I updated them to a higher value since the author didn't get the additional curation reward.
As someone who has made a few bucks off of writing analysis posts on the steem blockchain about the steem blockchain, it's worth pointing out something very important here:
On Facebook, information that you give them describing yourself is part of the package that they sell to advertisers. That's how they keep the lights on, that's how they feed their kids, that is the cost to play the game.
On the steem blockchain, everyone spies on everything you do. Nothing you do is private, everything you do is grist for someone else to make money off of, and we are perfectly happy to in order to write articles which other people enjoy and vote up.
If your objection to companies like Facebook is that someone is profiting off your hard work, recognize that on the steem blockchain lots of people are profiting off your hard work. Curators literally make money off of voting you up and then making sure other people vote you up. Analysts make money off of your aggregate behavior, and sometimes your specific behavior depending on who you are, pulling analytical data together from public blockchain transactions.
On the steem blockchain, everyone profits off you. If you're very lucky, though it's much harder post HF 20, you can profit off of you. But it's not guaranteed.
So let's stop pretending to be outraged that Facebook and Google make their money by spying on you. You don't really care about that. They don't actually make their money by spying on you. They make their money by watching what you do that they can see, and working really hard to find someone that cares. The steem blockchain spies on everything you do and you are not getting a free service there. Other people are profiting off your effort.
And that's okay.
Everything on STEEM is pseudonymous. Unless you give away personal details on your own, the blockchain never asks you for anything. The data mining is done independently by individuals. The blockchain doesn't ask your birthday, location etc and doesn't tag your face on photos and doesn't recommend you friends and other stuff on your feed. STEEM is less invasive on your privacy than Reddit which ask for your E-mail.
STEEM asks for nothing. If you proactively give away information, that's the individual's responsibility. There is also no veil of feigned privacy on STEEM. Nobody guarantees you privacy except for encrypted memos. There are no ads.
Data mining is expensive and there are only very few avenues to profit from activities on STEEM (unless some idiot start publishing their home address and stuff)
There is a massive difference between a product designed specifically for the purpose of data mining and ad selling Vs a product that is immutable and fully transparent distributed ledger which anybody with an internet connection can look up.
Thanks for clarifying that stuff. Most of my votes start coming in around 20 minutes so I should be okay then.
I am still hoping that costs come down some but things seem a lot closer to where they should be now.
Still, the best time to make a vote is at 15 minutes because earlier you vote the bigger your portion of curation rewards would be.
What are autovoters and where can I change them?
If you don't know what an autovoter is then you don't need to change it. No action needed.
(Autovoters are used by curation trails and upvote bots.)
Thank you!
Congratulations! Your post has been selected as a daily Steemit truffle! It is listed on rank 8 of all contributions awarded today. You can find the TOP DAILY TRUFFLE PICKS HERE.
I upvoted your contribution because to my mind your post is at least 8 SBD worth and should receive 160 votes. It's now up to the lovely Steemit community to make this come true.
I am
TrufflePig, an Artificial Intelligence Bot that helps minnows and content curators using Machine Learning. If you are curious how I select content, you can find an explanation here!Have a nice day and sincerely yours,
TrufflePigCongratulations! This post has been upvoted from the communal account, @minnowsupport, by Makishima Shougo from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
You got voted by @votefun thanks to Makishima Shougo. To support development, check out Rishi556. Hosted on the @cryptowithincin discord.
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