RE: [STEEMGIG] Riddle Me This: Where are Vests Born? And, When do Vests become Valuable to the Community?
Well, the first problem is that you are looking at VESTS wrong. VESTS Are your inVESTments in the system. Your shares of STEEM. Like owning stock in a company.
As more STEEM is created, older shares/VESTS held as Steem POWER are worth more, increasing your VESTS. You can see how many VESTS you have earned here: https://steemdb.com/@marillaanne
Steem POWER determines what share of the rewards you get, among other calculations. Your power is represented as the size of fish your are. Here is my article that talks about what the different power levels are.
Bone Fish, Minnow, Dolphin, Orca, Whale. How do I get there?
The Rewards Pool filled with STEEM at a rate around 48,029 per day.
TIL: How much STEEM is added to the reward pool per day?
Depending on the state of the Rewards Pool is and other factors, you are rewarded with STEEM as either Steem Backed Dollars (SBD) and/or Steem POWER.
If you are wondering about rewards, Witness @clayop created this article 5 months ago. Brief Explanation and Discussion about New Reward System
There is a STEEMit Wiki, I am not sure how much it is updated.
Thank you for your reply.
It is incorrect and,
also, it did not follow the parameters set in my directions.
STEEM is a convenient representation of vests in the reward pool.
A post's value expressed as STEEM value fluctuates during the entire 7 day process even if there was only one vote on the post.
The post's share of vests (rshares) does not fluctuate except as directly impacted by the number (and weight) of votes cast.
Please feel free to try again.
The Witness @dragosroua who upvoted my comment seemed to think it was okay.
Since I didn't believe that VESTs were created and that it was STEEM being added to the Rewards Pool, then I didn't bother with the other steps.
If you know what the answer is, then why didn't you just write an article explaining the answer and then ask some witnesses to review your article?
because I still don't have the formula for vests.
which means you still can adjust fire and come out even further ahead
And further, I reserve the right to be entirely misinformed about what the rshare is a portion of.
BUT this is the reason I am requiring a link to Steemit,inc produced documentation. I'm bloody hell tired of, "well, according to this person over here ... who got a formula from somewhere ... "
Fair enough.
I would assume the Steem White Paper is where things started, but the formula may have changed when implemented. Since that would make 1,152,000 STEEM per day. That is not the case. I doubt you will find a formula on how fast the blockchain creates STEEM in the Rewards Pool from Steemit, inc (ie Ned).
@dragosroua made a post about the Rewards Pool after HF16, where he estimates that the blockchain makes around 46,000 STEEM per day for the Rewards Pool Which is close to the 48,029 estimated calculated in the link I provided above.
If we go by the white paper, we owe it to all post writers to upvote our own comments.
Further we owe it to everyone who votes on our posts and comments (together known as our created content), to never vote first on our on our content BUT to vote last, last and always ... most especially as our weight increases.
Based on the White Paper, I'm guessing that's how all the Whales were made at the start and then they reduced the flow in one of the Hard Forks.
oh and I'm not especially looking for documentation from Ned. however, every IT company documents changes in an official manner.
Where does that exist for Steemit?
GitHub is where they are sharing the updates.
https://github.com/steemit/steem
It isn't very easy to navigate to determine things.
oh my word! I'm currently headache impaired. Largely from looking at this discussion and the links you've provided and the links I've found and ... I've lost the reply attempts twice ... due to headache brain.
I found a very interesting set of articles that should help with the shares ... I think, maybe. They're in my history. I'll find them again tomorrow.
While the distribution methodologies may have changed from the white papers, there's distribution philosophies that most likely have not changed.
I'm more than a little frustrated with the narrow mindedness of the "don't self upvote" religion. Yes.
And I'm running out of hope for the HennyPennys of Steemit who are convinced the sky is falling. No? The swamp is draining? Oh yeah! They're convinced the reward pool can be drained empty.
Moreover, they totally don't get how not self upvoting is failing to be generous and falling to generate STEEM and falling to improve the value of STEEM.
If you're confused, go back and slowly read the last @dragosroua article you linked to. He rushed the ending. But he's made several of the links. https://steemit.com/steemit/@dragosroua/why-there-is-no-such-thing-as-draining-the-reward-pool
And more ... well tomorrow's another day.
At this point, I'm inclined to transfer the 4SBD to you just based on your determination.
The problem is, while I may not be entirely correct, neither are you.
There is very definitely lingo issues. And perspective issues.
And opaque documentation issues are working against us all.
If you're not opposed, I'd like to continue tomorrow.
We can try.
I know I would like a clearer understanding of how all this works.