Overview of Vote distribution on Posts till Payout - Part 1

in #steemit6 years ago (edited)

When we submit an article on Steemit, we expect it to give us good rewards. When does this reward system pay us?

Steemit runs on a seven day reward payout cycle, meaning that once your article is submitted to the blockchain and receives a vote you will get the rewards after exactly 168 hours.

Once the first vote is cast, there is a 24 hour review period. What happens in this period?
You may have noticed the trending part of this network. The posts that are trending is determined by their pending payout in the first 24 hours since the first vote.

What is this article about?

Assume that a post gets the first vote, it qualifies the post for a payout in exactly 7 days. How will be the votes that the article receives get distributed in these 7 days? Let us see.

Tools used:

  • Blockchain data is sourced from steemsql.com by @arcange.
  • The data is compiled and charted on Google Sheets - an excellent online alternative to MS Excel.

Disclaimer:

I am not excluding data from voting bots since there is no good way to exclude them through query as yet. One of the most important things to follow in data analysis is to avoid writing manual exceptions to a query as our inherent bias may result in a skewed data.

Timeline:

I am looking at only the data for articles that were published in the last month. Since any bigger timeline may tax the sql server and crash it.

The Catch:

I know that users who read my posts would be missing the usual table that I normally post in such articles; this post is no exception. I am interested in knowing whether our social status within this system mean anything for the longevity of our posts.
So here is the mandatory classification:

Vesting BalanceCategory
Above 1000 MVestsWhale
Above 100 MVestsOrca
Above 10 MVestsDolphin
Above 1 MVestMinnow
Below 1 MVestPlankton

What is a vest? See here.

The Method:

The category of the user is derived from the Accounts table.
The post made by the user and it's payout date is derived from the Comments table.
The votes made on the posts are taken from the TxVotes table. Only the upvotes are taken into account.
We are getting the number of votes on a post and grouping it by the day since the first vote.
The data is then pivoted and plotted as a Smooth line chart.

Findings:

The final output of the quest is given below:
Weekly.png

WeeklyData.png

Observations:

  • The lifetime of a post and its ability to attract votes does not vary because of the user's Vest power. The value of the payouts may differ though.
  • Whales and Orcas have a better voter turnout on the second day than others.
  • Plankton posts gather more votes than others on the last 4 days.
  • 69% of a post's votes are awarded in the first day.
  • A post gets 80% of it's votes on the first two days.
  • The chart shows that the votes attracted by the post follows the classic Zipf's Law of marketing.
  • This also mentioned in steem's website. Refer https://steem.io/getinvolved/posting-rewards/

Since 69% of votes are gathered on the first day of posting; you would be interested to know how a vote fares in the first 24 hours. We will see that in the next post.
(... to be continued)

If you find this article interesting, check out my post on Average Votes per Day by User Category to find out if users are hitting the 20 votes/day mark suggested in https://steem.io/getinvolved/paid-to-curate/

I am a part of the Steemit Business Intelligence community. We all post under the tag #BIsteemit. If you have an analysis you would like carried out on Steemit data, please do contact me or any of the #bisteemit team and we will do our best to help you...

Join the fabulous Steemit Blogger Discord community:
https://discord.gg/e5XFZKa

...and do not forget to
Steem Tail.jpeg

Cheers,
dbdecoy

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This post received a 2.11% upvote from @randowhale thanks to @dbdecoy! To learn more, check out @randowhale 101 - Everything You Need to Know!

This is the kind of information new users like me needs. Great work and thanks for sharing!

You are welcome.

Not only are your analytic skills very impressive, but your writing skills and seo skills also shine through in this article. Well done

Thanks for the compliments @paulag

Thank you for doing this analysis, and for your careful selection of criteria to premise it on.

This confirms my suspicion that the earnings lifespan of a given post lies in the first 36 hours, after which time it is inexorably buried beyond salvation lest scoial network support can draw further attention.

The ultimate fate of all posts is archival reference, but considering the pursuit of reward this is tantamount to redundancy as similar posts are made over time and older ones sink in the heap.

^voted & resteemed.

Yes true. The older posts are of no value. Steemit's all about marketing yourself and only the big guns can do it easily. Users like us have a hard time selling our articles. The votes on this article proves that 😉 .

This post has received a 2.04 % upvote from thanks to: @dbdecoy.
For more information, click here!

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond

This wonderful post has received a bellyrub 0.28 % upvote from @bellyrub thanks to this cool cat: @kid4life. My pops @zeartul is one of your top steemit witness, if you like my bellyrubs please go vote for him, if you love what he is doing vote for this comment as well.

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