For Minnows🐠: How To Have A Voting Slider Before Reaching 500 Steem Power And Adjust Your Voting Percentage
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.
Voting Slider
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?
A lot!
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! 🙂
P.S.
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.
P.P.S.
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
This is a really useful post @ana-maria, since there are a LOT of people out there whose votes start going towards nothing once the first ten votes have been cast. Thanks for putting this together!
Thank you, @denmarkguy! 🙂 - I'm really glad you like it.
To be honest, it took me some while to figure it all out by myself. There are a lot of information out there, but somehow they have been scattered all around and people usually bring just a small fragment while I was searching for the whole picture. As well, sometimes they understand but bring it up in some more techy way that wider audience who is not deep in blockchain or in some general coding or so wouldn't understand it.
So, it took me some time to dig it all, find right answers (although, some I figured by myself) and test them.
At the end, the hardest was to bring it out in the plain & simple most possible way. Still not sure did I succeeded in that, but tried my best. 🙂
Thank you for this excellent explanation! The more I've read about voting and numbers and steem power and all of that stuff, the more I get confused. So I have just been trying to work on creating content and making connections with others. If I can learn something that makes sense, then I do. If not, I move on. LOL! Thank you for making sense of this!
Thank you for the nice comment, @thesimplelife! 🙂
I can fully understand you as I'm functioning the same way. If I can't learn something because it's explained way too complicated or if it really is too complicated, I also move on. Don't have nerve either the time for messy long babblings which sometimes seems to me created only for blabber sake that would allegedly turn it in something wise. NO, or at least not in front of my
eyes. 😉
Right! It's exhausting. Like I say, can you explain it to me like a kindergartner, please???
hahahahaha - Exactly! 🙂
thank you. this has cleared up a few things more than just the slider for me. as a newb, and someone who is already moving some of my crypto over to this platform, there are so many small nuances about how the 3 currencies act and interact. something that showed where your percentage was and how much your vote was worth seem like they would be a no-brainer addition to me? i am sure there is a good reason that this isnt available but i surely cant think of it. lol. cheers and regards, xrelish.
Regarding so-called 3 currencies, and if we are talking about the worth of each of them you should know that STEEM = Steem Power.
In other words, you can always Power Up your Steem Power with STEEM and that conversion will be done in an instant, and the ratio is always 1:1.
The process works the other way as well, and it's called Power-Down but with one big difference. When turning (transferring) Steem Power into the STEEM (no matter which amount is in question) for the Total in holding will take about 3 months to be transferred into the STEEM. Meaning, approximately 10% per week, where the first amount would arrive in your STEEM Wallet 7 days after you have requested the Power-Down.
Steem Dollar (SBD) works like a separate currency (with its own rates) although it's somehow connected with the STEEM, but as far as I understood the intention of creators was to keep it always around $1 US.
The other thing that might be important regarding STEEM and Steem Power is different usage purpose, while STEEM functions like any other cryptocurrency out there, Steem Power is the one that gives your votes certain value. As well, the amount held in the Steem Power brings you particular interest (to cover the inflation of new blocks being created), while the same amount held in the Wallet as STEEM wouldn't collect that interest.
Regarding the slider itself - yes, there is a good reason why it's not available until the member reaches 500 SP, and in that sense, I was even sorry afterward that I published about this other option through chainBB.com as many users didn't even close master how to handle their voting power and keep it on the optimum level daily, what I believe they are forced to learn without the Slider. Not to mention that votes at a very low percentage, and when the account is below 500 SP wouldn't bring any benefit as not for the member to whom the vote was given, even less to the curator (vote giver) or even could not be of the accountable amount.
Hope this would give you some more answers as far as I could read your question in-between the lines. 😉😊
This is very thorough and helpful!
Like @denmarkguy says, a lot of people stop voting after 10 posts. WTF???
They say ignorance is bliss? I want to kick "THEY" in the a$$.
Having hosted this challenge for nearly a week, I've given almost all comments a 1% upvote plus a minimum 20% upvote for contributing posts. If it was truly outstanding they got a 100% vote and my vote power has regenerated every day above 90% after hundreds of smaller votes.
Okay, so my current 1% upvote is 2 cents but if I upvoted 20 of your comments you're still getting 40 cents. At least it's something and it does accumulate. Some people need to get a grip.
Nothing to add! - Completely agree! 😉
Thank you for this!
You are welcome, @rainbowcake and thank you for the upvote! 🙂
I feel I get a lot less votes since :( We'll see in the long run
Yes, that's true and it's not just a feeling, it's a fact after HF19.
Before, it was easy-peasy to get e.g. 50 votes per post in first 30 minutes. Now it's almost like a winning the Olympic Golden medal if you manage to collect 50 votes in total.
Seems like, after HF19 everybody is holding back from voting like it would be some sort of apocalypse even if they run out of voting power for few hours or even a whole day.
Many are acting like if they spend it there is no turn back. Silly, at least.
But, it's also a fact that our votes now worth more than they did before HF19.
At the end, as you said, the time will show and "we'll see in the long run".
Yeah. I'ts annoying how some people won't upvote and they have 90+ VP. I mean they even get less curation that way...
They obviously don't get it.
This is very useful and I really like chainBB. The issue I have with Steemit is that it doesn't promote longevity. After a post has its initial few hours of front page time, it falls off the face of the earth -- even if it's extremely useful.
ChainBB fixes this with the ability stay relevant with new discussions. I hope ChainBB succeeds because it's a great supplementary platform to Steemit and posts like these help give it exposure.
Thanks!
Thank you for the comment, @elowin! 🙂
I like ChainBB too, but I'm still learning its functionalities and possibilities. That's why I think, everyone who decides to use it would need some time to adopt as it's not working like Steemit.com (as most of the people here more or less get familiar with), but it's also not working fully as some forum although it is most similar to the forum platforms.
But, it's for sure that it has many possibilities some of which (like Voting Slider) you don't have (as a Minnow) on Steemit.com or don't have at all at Steemit.com.
Thank you!
I couldn't find anything about this slider.
But now I know I just have to wait a longgg time xD
You are welcome, @yournews! 🙂
Well, you don't have to wait except maybe because the total (100%) amount of your current vote worth it's a bit too small for the use of Voting Slider.
But you may reach those few cents very soon if you keep posting regularly, as you never know which article would be the winner.
In those past 10 months or so that I have been here, I noticed and it wasn't a rare case that the post which wins big and hit the voting highs the most, usually wasn't the one the author would expect.
Therefore, and if I may suggest, don't make such a long pauses between posts (11 days) as you have between your Win free Steem!🚀 and Use a Wii remote to play pc games post. Especially not at the beginning when you are relatively new here.
11 days is a long period. In such time gap, people sometimes forget their dearest members and authors because life is rolling fast. Even easier they would forget someone who just appears here and then, and actually didn't offer some real chance to them to remember him or her.
So, just keep doing it and it would happen when you would expect it the least, I'm sure! 🙂
this is actually quite useful explanation, which meana if I want my votes count I might as well only vote once every 2 hours since I am still a minnow, and probably look into chainBB latee when I have higher values.
The rest I would probably try other ways to help others to earn better.
I'm glad you like it @littlenewthings and find it useful!
I believe you would be able to start using Voting Slider very soon (in about 3 days to be more precise) when your article Once addicted game. And how I improved my writing and my image editing little by little. reach the pay-out day, as the worth of your vote would significantly raise. 🙂
that's pretty useful I tried to adjust my vote a lot of times but I didn't find out how ;)
Well, at least now you know why you didn't, and how from now on you can. 🙂