If you are a Minnow like me, you may feel deprived, especially now after the HF19, without a possibility to scale your voting power because as a Minow the voting slider isn't available to you until your reach 500 Steem Power.
For those of you who are new at Steemit let me first explain as simple as I could some of the mystery around Steemit system voting complexity.
First, let's clear it the most important thing.
By giving a vote to anyone's post or comment, you are NOT using or losing any of your already earned STEEM, Steem Power or Steem Dollars! In other words, you don't lose anything!
(More about it, you may find in my old post: "Voting Is RECEIVING After Giving!")
Before Hardfork 19 the optimal number of votes per day was 40. Of course, we were able to vote more and less than that. But in days when we voted less some of our voting power would be wasted, while in days when we placed more than 40 votes especially if those votes were not more or less spread optimally during the day, worth of our vote would be more significantly decreased. However, that's history now and NOT valid anymore!
What remained the same before and after HF19 ?
What remained the same before and after HF19 is the more you vote, the less each of every next vote of yours is worth. But, the good news about that same old thing is that our voting power constantly regenerates itself.
So, even if you manage to drain your voting power to total ZERO, it would fully refill back to 100% in 5 days.
(Five days - if you don't place a single vote in the meantime as if you do, you'll push it back a bit with every vote, and it would take a bit longer.)
In other words, 20% of our voting power regenerates itself every day. That means every 1h and 12 min 1% of our total 100% power is filled back.
Imagine (for easier calculation) that at 100% voting power your vote worths $100. When you place your first vote at that stage (assuming with full 100% voting power) the recipient of that vote would receive full $100 for his/her post or comment.
As every next vote decreases your voting power for 2%, your next (2nd) vote would be 98% empowered or $98 worth. Your 3rd vote would be another 2% lower or to be precise lower for 1.96 (as this is the 2% of 98) and accordingly $96.04 worth. Following that path, your:
- 4th vote would be 94.11% or $94.11
- 5th vote would be 92.23% or $92.23
- 6th vote would be 90.39% or $90.39
- 7th vote would be 88.58% or $88.58
- 8th vote would be 86.81% or $86.81
- 9th vote would be 85.07% or $85.07
- 10th vote would be 83.37% or $83.37
(Some authors simplified that calculation rounding to 2% every following vote, and that's why you came across a lot of posts lately that were talking about optimal 10 votes per day. Meaning, not to go below 80% of your total voting power as 20% of it would regenerate in the next 24 hours. But, the truth is that we have in fact 12 votes available before we reach that 80% margin. Or even better, maybe we have much more than that. 😉 Keep reading, and you could be impressed with my following findings.)
What this has to do with the Minnows?
Nothing and everything! Having in mind that as Minnow your vote (yet) can't be worth $100 at 100% power it doesn't have much to do with you. It could be even depressing. But don't fall on that, as on the other hand, it has everything to do with you as a Minnow because the same calculation system applies to you too, no matter if your vote worth only 1 cent ($0.01), 10 cents ($0.10), 1 dollar ($1.00) or more.
OK - now when you understand the voting power and voting system around it, let's talk about the Voting Slider, why you are here in the first place.
What is the Voting Slider?
Voting Slider is that small extra box that on steemit.com appears (pops up) only to those members who reached or passed that 'border' by accumulating 500 or more Steem Power in their accounts. Yeah, in other words, a privilege (or not) mainly available only to Dolphins and Whales.
What's the use of Voting Slider?
By having a Voting Slider at your disposal, you may decide how much you want to reward certain post or comment.
In an example, if your voting power worth $100 by adjusting the Voting Slider to e.g. 50% or 80% (as on above photo) you may decide to credit the author only with $50 or $80. It doesn't have to be full $100.
That way, if I understood well @beanz's EXPERIMENT Results and through some of my own testings, you'll be able to vote much more than just 10 or 12 times per day while at the same time spending your voting power much slower.
How does this work?
Sticking to the example where your voting power at 100% is worth $100 and assuming that you want to credit someone with only 50% ($50) of it, your next vote wouldn't worth 98% ($98) but 99% ($99). That's simply because your 'voting power' will be deducted by 2%, but of the used power and not of you total which is only 1% of your total voting power.
That way, not only that you would be able to determine how much you want to reward particular author or post, keeping higher voting power for more valuable articles, but as well leaving more of voting power at your disposal.
Unfortunately, as I said before, this option and extended voting possibility was a privilege available only to those with 500 Steem Power or higher (Dolphins and Whales), until recently!
But before I'm going to reveal the Voting Slider for Minnows that I discovered by pure accident, I have to warn you:
Don't use it if your voting power at 100% is lower than at least $0.05 or $0.10 as it would very likely do more harm than benefit to you!
Voting Slider for Minnows
Two months ago @jesta released the beta chainBB.com - a blockchain forum platform for Steem which is the whole another great story.
If you want to find more about chainBB.com, you may start with @cryptoctopus "ChainBB - A Review of what may become way bigger than steemit.com" or jump right to the latest release of chainBB v0.3.
But, in short,
chainBB is a discussion forum style interface on the Steem blockchain. It's a completely standalone alternative to steemit.com, and built by me, @jesta. It uses many of the same mechanics that steemit.com uses, but presents the information in a much different way. All posts on the Steem blockchain are available via chainBB, just as they are on steemit.com.
What this has to do with the Voting Slider for Minnows?
On chainBB platform the Voting Slider is available to everyone, including us Minnows while at the same time you can perform there all your regular Steemit activity (blogging/posting, commenting, voting, etc.).
What you have to do to join and start using it?
- Click the following link and go to ChainBB.com Forum
- Login with your Steemit credentials
- That's all and that's it! - You are good to go! 🙂
Please note, that the voting system as described in this post is valid at the time of the posting, and might be changed in the future.
Also, I hope @rulesforrebels wouldn't kill me that I didn't create this post 10 days ago, before he bought 250 Steem Power just to Reach 500 Steem Power to Have a Sliding Vote Power Scale.
Posted on Wednesday, July 12, 2017