You are viewing a single comment's thread from:
RE: VEST Rewards Are More Important Than Post Price
Wow, great post. This is very encouraging thanks. Most of my post are just below 20$. Could you resummerize in super simple laymens terms why a post with higher reward can be a lower vest amount than a post with lower rewards. I am trying to figure this out, how that could be possible but still can't quite grasp it.
The $$$ value shown next to a post is based on the feed price published by the witnesses. I think it uses a rolling 24 hour average. The VEST rewards you get (or Steem Power) is based on the weight of the votes you get. Like Bitcoin, the Steem blockchain is creating new value every day. Authors, curators, and VEST holders get a portion of that value (along with the miners). When STEEM was priced at $3, the payout would be much, much higher for the same (or even much fewer) VESTS. That's why a post today with the price way down may actually be more valuable in terms of VESTS than a post before. That said, if you took all that value and sold it back then into BTC or SBD and then waited until today to buy up Steem Power, you probably would have been better off. :)
Ok so that price feed is only relatively accurate. Thanks I understand it now. So the lower in value that steem/SBD go the easier it is to gain VESTS as rewards. So now is actually the best time to always 100% power up. Yeah, I know selling Steem/SBD at the high and then buying it back at a low and investing in SP, but that is the past now. but now is still actually the best time to convert steem/SBD into Steem Power, correct?
"Now is the best time" unless tomorrow is better. :) The price could keep going down. It's hard to know what the floor will be.
Haha truth, Thanks for the great lessons and teachings luke. Ive learned a lot from what you said and your summary.