RE: How Steemit Payouts Work - A Beginners Guide
Thanks for clarifying some points for me! The thing I´m not really getting though is, is the "STEEM into SP 1:1 ratio conversion. As I see it, it´s not 1:1 as in for 1 STEEM you get 1 SP, but for 1 Steem you get 1/current price in SP, right? So when you power down, you will get your SP * current price again? But since the power down works over 3 month, you can´t really calculate, how much Steem you will get over this extreme long time. Let´s say that one day the Steem price is dropping at a very high rate near 0, you will over these 3 months sit on your STEEM that is by the time it gets converted maybe worth nothing at all? I know this is most likely not to happen, but if it does, the "danger" of total disvaluation is always there.... Ok, I´m just not that good in math in the end, but trying to get the whole picture... ;)
STEEM:SP really is 1:1. Every STEEM you 'power up' gives you 1 SP, and every SP you 'power down' gives you 1 STEEM.
Of course, the 3 month power down period does mean your STEEM may change in value significantly as you power down.
Yes, sorry for the confusion! I bought STEEM for 1500€ 2 weeks ago and powered up - of course I got about 500 STEEM back then and this is also 500 SP - I thought I had got 1500 STEEM, which is of course not true. Ok... now everything is clearer and "easier" then I thought.... Nevertheless you can never say, how much your account is really worth - you could only say, how much you think your account will be worth 13 weeks from now, which makes this a little bit like fortunetelling ;)