Why is the dollar value on my posts dropping?
Im only 5 days old here, so forgive my ignorance.
My understanding is that the value of steem changes throughout the day, and this is the reason why the dollar value of posts changes throughout the day. However, Im noticing that the value of steem has stayed pretty much in the same place for my 5 days here, but my posts are losing dollar value by the day, even with more votes added to tally.
So the price of steem is steady but the value of my posts keeps dropping. My first post was as high as $535. Last night it was about $510, and right now it is $498, yet the price of steem is actually higher now than it was last night.
What am I missing?
Thanks,
Doc
Sup Doc
(i had to lol)
I believe the decrease has something to do with the voting power dropping on the users that casted a vote. I am not entirely sure but this is what I always assumed.
Upvote is done on specific votic power at that time so this is not the reason of this drop.
I think reward pool is changing with each day so that might be a reason of this drop
They can go up and down over the seven days. The estimate is a seven day rolling average based on the exchange rate between steem and usd. When steem is on the rise, the price will rise, when it falls, the price will fall. Also, if a voter decides to unvote, or decrease the percentage of their vote, the price can fall. If they increase the percentage, or increase their steem power, the reward on your post can increase. Mostly its the steem/usd exchange rate though.
This is the wining answer! The pice on posts is just an average and will fluctuate based on the 7 day rolling average of the price of Steem. Expect to see a rebound @docdelux.
Rebound indeed! It dropped slightly today: https://www.coingecko.com/en/price_charts/steem/usd/24_hours
But the trend over the last week is pretty stable: https://www.coingecko.com/en/price_charts/steem/usd/14_days
Long term trend is upwards: https://www.coingecko.com/en/price_charts/steem/usd/60_days
It gets exciting when it surges... :)
It's because there is a limited reward pool.... when it first is calculated it is based on how much of the reward pool it is getting at that time but as the week goes on other people vote on posts that will payout the same day and that changes the calculated payout. At least, I think that's how it works. It's a very complex algorithm taking into account steem power, voting power and the price of steem.
I would also like a clear explanation for this. Every post I've made loses value steadily each day. I'm just hoping they don't all go to zero by the time 7 days roll by, haha.
Also, new here. Noticed the same thing. I don't think its tied the price of steem but I'm not sure for the reason. I thought maybe people had unvoted my post.
Would be curious to see the reason. Thanks
There is something of a lag, but the rewards do follow the price of steem all of the time. This is what I've always heard, but I've never seen a reward get bigger unless it was getting upvotes, so the other factor in the dropping price is that when a voter goes and continues up-voting other posts after upvoting your post, the later upvotes 'borrow' a little from previous ones, (that may not be the best word for it) so that the reward value actually drops a bit. I have always seen posts drop in value in a week, never have I seen them grow in harmony with the steem price. My first big whale visit last year gave me an upvote making my post worth $230, but by the time it cashed out it was down to 200 even. I came to expect the decline in values after that, and instead of trying to figure it out exactly, I just kept trying to write another $200 post! Haven't written that one yet btw.
My instincts tell me that our posts maybe naturally lose steam over the 7 day waiting period unless we got a lot of upvotes, comments, resteems, etc. This is merely a half-educated guess, though, based on what I've seen in the couple days I've been poking around.
Yeah, I am newbie too :) As I read and know is that the amount depends on every process - exchanging steem to usd, people votes etc.... hope to see my first 7 days roll, now it is my 2nd :)))
Just saw this as soon as I finished typing my last comment: https://steemit.com/steemit/@winstonwolfe/w-w-vlog-012-i-haven-t-lost-any-votes-on-my-post-so-why-is-my-potential-payout-dropping
hahaaha! I just saw yours as soon as I typed mine too. loool
lol
Check @winstonwolfe's post. He explained it all https://steemit.com/steemit/@winstonwolfe/w-w-vlog-012-i-haven-t-lost-any-votes-on-my-post-so-why-is-my-potential-payout-dropping