ALERT: Steemit Hard Fork 19 Active!
Hello Steemers! In this video, I share with my YouTube viewers the recent activation of Hard For 19, and how much in rewards they can earn!
It is remarkable what Steemit has been paying out today. How long can the $2 price tag on STEEM last?
You bring up a great question, what will happen to the value of Steem going forward? @exyle had a very good and logical take on this today in his vlog. As more and more users flock to Steemit, it's going to make Steem much harder to come by. With a current 9.5% inflation rate, which will be slowly reducing year over year, the value of Steem should rise exponentially over time to accommodate the millions of users. Presently there should end up being only 600 million Steem tokens that will ever be in existence. This is great news for users who are here now and work hard to accumulate as much Steem Power as possible moving forward. Great video as always!
Valid point! I agree that there is nothing but good news in days to come.
Very nice info, thanks.
Thanks for the info. Quick question... I'm still trying to grasp the percentage. You did 100 percent and 25 percent for the upvote. How does that work exactly?
100% is a fully weighted upvote... but this % is like 4X what it used to be. But then with the rewards curve re-balanced, it is worth even more than 4X. So voting 25% should be the equivalent of voting before Hard Fork 19 in terms of using up your daily voting power... yet it still pays way more at 25% vote weight.
Here, use this website.... don't drop your voting power too low or it can take a longer time to come back: https://steemdb.com/@pbgreenpoint ... because it's 4X, 1 vote at 100% is like doing 4 votes under the old system.
Thanks for the website...so if my voting power goes too low does that mean I won't be able to vote? I will just have to wait until it accumulates back? Sorry for the noob question
Voting power rebuilds every day. As it drops your votes become worth less. I do believe at 10% or 0% or something... it does hit a threshold where it stops paying. I don't know a lot about it, I do know that we generally want to keep it above 80% so that it rebuilds the voting power in like a 24 hour period.
Awesome bro. Thank you. Keep the great content coming.
I don't think that this was good idea...there will be more steem and price for steem will drop....
I thought about it. But that extra steem is limited to the 9.5% annually, it can't generate more than that. Since it is quantified and capped, new user acquisition and additional investment into the platform should outweigh the increased payouts to more users. Plus, these additional rewards can't hit the market instantly, it takes days / weeks to get money out of Steem.
This has just given me the adrenaline boost I needed.
Great video Ted and very timely - up-voted (now about $0.30 - up from $0.01) and resteemed! Where do you reckon all this extra steem coming from - do you know if it is still 65,000 or thereabouts being produced a day?
This extra steem is largely being stolen away from the mega whales. Many of them wouldn't upvote always, but these rewards are still capped at 9.5% steem produced annually. Also notice that your voting drops faster.. this means you have less full powered votes per day. So for the super powered vote, you are robbing your total votes. 9.5% annually, is like 40 million in STEEM paid annually. This is where it is coming from. The mega whales were holding back their votes, and it was a practical thing... hard for a whale to vote on every post.
Thanks for the info Ted - well explained. With the numbers I am seeing this morning it is hard to believe that everybody with a PC and internet connection would not be jumping into STEEMIT. This could be massive! SK.
Great stuff.
Can I use your video when emailing my mates?
You can link to my videos. One person copied my video to his youtube channel and was treating it like his video... I thought about it and this is just a symptom of being successful so go for it.
No, I won't be copying it, I shall just be using the "Share" link.
I am trying my best to get as many people as possible onboard and materials like these just help me more than anything.
Straight forwards 101 comms with marketing aids.
Thanks man.
Cheers.
Glad I ran into your channel on youtube! Thanks for all the good info.
Hey, that's quite prosperous my man. There must be some other parameters or limitations to it. Can't say I've quite got my mind around it yet.
OK, by investing thousands, not just hundreds in STEEM POWER, your "power" goes up exponentially. Maybe I didn't understand the magnitude of the commitment.
Voting rewards should be linear... so if 15k pays like $6 per vote, then it's something like $0.0004 per dollar in STEEM POWER. It's a rough guestimate, and I would want to confirm it is linear in this manner, but everyone says it is linear now. Before, it was the more people had invested, the more it weighted up their vote. Now they just made it linear to weight it at a fixed ratio.
OK not exponential at all -- LINEAR... Calculating.... Hmmm, I get about X $0.001 per STEEM POWER, since I've got about $103.64 in SP and 100% reward and it's rewarding 10¢. (Pssst -- smoke in the vicinity) Excitement, that's what we want!
AWESOME! Resteemed!
Damn, that's amazing! Thanks for all the useful updates
Very cool.. I definitely have to get more steemit.