STEEM Rewards Fund Over $2,000,000 Again
Following yesterday STEEM appreciation, which seems to continue today, the STEEM rewards fund is now worth $2,000,000, after a few weeks when it was below $1,500,000.
The screenshot is taken from steem.supply, and, as you can see it, the fund didn't grow very much in STEEM, but because of the asset appreciation, it's worth a lot more now in fiat. As a matter of fact, in STEEM, the rewards fund is still at a relatively high level, which means any of the following (or all of them at once):
- users are posting / voting less
- some of the users are simply forgetting to cash in their rewards, which are "stuck" in the rewards pool
- the vast majority of people are immune to the concept of "opportunity" - which means, basically, that you have to be greedy when others are fearful, and fearful when others are greedy (as the big oracle, Warren Buffet himself, once said, and the whole Internet is copying that ever since).
Steem on!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
I love the quote by warren buffet.
I was powering up all the way down from highs :) Good job me :)
I still think this is not an alt run. This is just a temporary relief.
Let's milk the reward pool with good content and networking! :D
I didn't know that the reward pool had a variable amount, but with the way Steem works, it makes sense. I'm told there will be some nice rewards by the end of the week.
Amen to that :)
People are certainly voting, but it is more self-voting happening than upvoting for others. All those $0.00 are going back where they came from ;)
I am definitely seeing far fewer posts than when I first joined last December @dragosroua. Some times the new feed doesn't move at all for minutes at a time.
Regarding the reward pool : I checked @anniversary account's posts. It was interesting. Only 5%-10% of the one-year-old accounts are still active!!! We are surrounded by dead corpses... :-) People are looking for quick and easy money. In a few weeks, they realize that the fence is not built of sausage here, and they leave.
That was hilarious :)
As for people wanting quick money, what else is new since Homo Sapiens?
Honestly, nothing.
It's just simply embarrassing (or scaring?) that only 5-10% thinks that the time he/she spents here is not wasted.
" greedy when others are fearful, and fearful when others are greedy"
I'm sure he was just paraphrasing Baron Rothschild's "blood on the streets" quote.
I hope that with the news these past few days + this price bump we had a new wave of users and investors jump into the platform!
I like how you used this
As people posted and voted less i posted and voted more and have seen an increase in my rewards because of so. Even my Curation rewards is bigger but then receiving a delegation might have gotten to do with it but I have been able to vote more because of it.
With Steem price appreciating maybe we will see more posters again but hopefully it is those that stayed the course who will truly benefit.
Probably many of the users who abandon their account (of forget/loose) also have haven't redeemed their rewards. Will their rewards be forever stuck in the rewards pool, and does that have any long term consequence for the functioning of the rewards pool?
If they don't cash in, yes.
I don't see how.
Hmm, not sure I understand this?!
To my understanding the rewards are stuck in the accounts reward balances, but not in the Steem reward pool?
The Steem reward pool is defined from all active rshares (recent_claims) in combination with the network inflation (reward_balance) and the price feed. This defines a Steem value for rshares. On payout time, the rshares values are credited to the account reward balance as STEEM, SP and SBD using this value. To my understanding this is not part of the Steem reward pool then anymore. After claiming resources, the account reward balance is transferred into the account STEEM/SBD/Vests balance. The quotient of total_vesting_shares and total_vesting_fund_steem should not change between before and after claiming rewards. Am I missing something?
As far as I understand, if rewards are not claimed, they remain in the rewards pool. Otherwise I couldn’t explain its irregular variability. So, as long as you don’t cash out what’s in your rewards balance, this should count towards the rewards pool as well.
But I might be wrong.