Why are we getting fewer rewards for our posts? [Explained in numbers]

in #steemit8 years ago (edited)

The answer is simple: we have more users posting, which means more competition.

Currently there are 57600 Steem being distributed daily for posts and curation rewards, at 30 cents per steem that is 17280 USD being handed out to steemians every single day!

However we have more users and they are posting and voting more and more, here are some graphs and numbers provided by steemle (credits to @jabbasteem):

posts

votes

A day like yesterday we had a record high of 2670 posts and comments (edits are also counted) and 10391 votes; this brings an average of 3.89 votes and 21.57 steem per post ($6). Of course we know some posts do better than others, so you could have gotten 100 bucks or 20 cents.

Now, does this mean that as we grow the rewards will always be less?

Well not necessarily, as we have more users there will be a larger demand for steem, if the demand is higher than the inflation we could see higher rewards.

I am currently quite optimistic about the growth of steemit. The site has been live for only a few months and we are already 111,701 on the alexa ranking, out of more than 1,050,020,000 websites, this is a huge accomplishment in a very small time frame.

alexa

So my advice to you is: Blog good quality content and vote strategically to earn as much SP as possible, because one day you could be a big happy whale!

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People need to stop worrying about the rewards. Create new content, or contribute to discussions. I worry more about getting upvotes (just as I would on reddit or facebook) then the monetary reward. With this site, if you focus on good content and discussion you get rewarded. We are lucky to be apart of this as early as we are!

I think it is really cool to see this grow rapidly. If you are worried about making money then make some post full of value for all of us to read.

I dont know what to think really...I mean I love this platform but seems like I dont get many up-votes and if I do its makes me penny or 2:) oh well I enjoy sharing the little wisdom I have so that's good enough Happy Steeming!

It is hard to determine what posts get upvotes and which don´t, is a matter of finding out. My recommendation to you is to keep posting and eventually a big holder will like your content and give you an upvote.

When you get frustated just think: how much are other social networks paying you?

Is there a page with exact info on how the whole system here works?

At today's scale there will only be a couple dozen posts per day that get really big payouts. But it only takes one whale to like what you have to say to tip you $20. So I'd say consistency and quality are the keys.

I got a $20 tip today by somebody who likes my blog and it almost made me cry. Especially since it actually wasnt a popular post. :)

Agreed. Kinda goes with my "the key to life post", Consistency and moderation or in this case consistency with quality content posted and daily activity on the site. I think that falls under moderation as well doesn't it? Usually I look at moderation as a "gotta stop doing so much of something" but it can also mean "time to get up and do something" in this case get up and be active on steemit... maybe I'm over thinking this lol

"and if I do it makes me a penny" this is true, but how much does a facebook post make you, or a reddit post? Nothing, a penny now will be worth much much more as steemit grows.

I thought I could offer some help quickly, but it turned into a longer separate post which can be found here :
https://steemit.com/steem/@tuck-fheman/steem-community-building-how-to-turn-your-pennies-into-dollars

Many people may not realize your are using '.' to be a thousands separator rather than ','. US readers will think that $17 per day isn't much.

The reality is that $17,000 per day is being handed out at todays market cap. It doesn't take much buying to double the market cap.

Sorry, we use "." on this side of the word, I will leave it without dots and commas so that everyone understands it hehe

We use a space, like this: 17 000 000 000.

Excellent post! Just wondering about this...

Currently there are 57.600 Steem being distributed daily for posts and curation rewards

I think I know where you got that number from (and like Dan said, that is 57,600 in US numeric culture) but I'll ask anyway if you can explain that figure. Thanks!

Yes, if you are in America it means that 57,600 Steem are handed out daily for posts and curation rewards. Sorry about the confusion.

Not a problem! But where did the exact number of 57,600 come from?

I assume that is on the white-paper, to make sure I asked @abit before posting, he knows the code inside out!

What do you mean with "if you are in America" ?

If the monetary rewards go down the more people are her, then what motivation do I have to try and get people on the site? What am I missing in that regards?

...as we have more users there will be a larger demand for steem, if the demand is higher than the inflation we could see higher rewards.

competition for real. a cool different platform. hopefully it grows and expands to the maximum.

this is something you need to know!!

Ah, Illumination. That explains it

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