An idiots guide to what the Dollar figure ($) against your post means

in steemhelp •  3 years ago  (edited)

So I’m going to attempt to explain the $figure on a post,

In this example the author sees $2.60 and 30 votes against their post,

  1. $2.60 represents $2.60 of Steem Dollar value that is split 50%/50% between the author and the curators (voters).

  2. The $1.30 authors share: All this being equal - $0.65 will be in actual Steem dollar. $0.65 will be in Steem power.
    (All things being equal because of point 4 below)

  3. The $1.30 curators share: All this being equal - $1.30 will be in Steem power.
    (All things being equal because of point 4 below)

  4. As time passes, - the $1.95 ($0.65 + $1.30) in Steem power may go up and down as the price of Steem fluctuates. So, for example the $2.60 figure may change (e.g. to $2.90 or $2.50) without there being any change in voting activity. This movement is the initial $1.95 of Steem power value changing relative to the dollar.

  5. None of these payouts have happened yet so we will be fluctuating all the way until July 4th.

  6. On July 4th the payouts will be made and go into people’s wallets.

  7. The $2.60 figure (or whatever it is on 4th July) against the post will go to 0. The votes will remain at 30 (or whatever it is on 4th July).

  8. The $ figure displayed against the post after 4th July, will be the Steem Dollar value accured on the day you are looking at it.

  9. 1 Steem Dollars can be converted into 1 dollar worth of Steem. The author will need to exchange Steem for BTC. Then exchange for USD or GBP or whatever to realise this value in fiat.

Please add any comments or corrections in the comments section.

Thanks @dantheman for putting me right on point 1!!

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The amount displayed is the dollar value of the combined rewards split between curators and the author. Author only gets 50%.

I've revised the post.

This is what I originally thought! However I was told differently in the comments section in my previous post!.... grrr. There is definitely some confusion around this!

Also the money is made up from a pool, so as people vote for you and then other posts, their votes become diluted, causing your reward to shrink.

I had a $7,767 post which is now about $5,400, I've stopped checking, its depressing lol. I think by July 4th I'll be luck if it's $1000

Is that pool reset daily? Or does it continue to get diluted until July 4th?

I agree, it doesn't look good if the figure keeps shrinking.

The pool as far as I know is a fixed size so yeah, I think it's going to be diluted until the 4th.

Maybe after it won't be so bad as you can power up or down every 48 hours.

Haha, it is depressing to see mine which is only less than $120 too. But I am thankful enough to have been curated. I hope one of my posts get to the amount you got one day.