HOW VOTING AND VOTING POWER WORKS...? Voting Power in Steemit Explained...
Dear fellow steemians,
As you already figured out, steem is all about upvoting posts and generating income. Now you must be wondering why not have everyone voted each other and make worthy. Well, it doesn't quite work like that.
What happens when you VOTE?
There is a fixed amount of steem produced everyday. When you vote you shower some of the rewards to the targeted recipients. If everyone voted for everyone , all rewards are distributed but of low value. Conversely if only one person is voting for only one post , that post rewards the entire pool.But this will never happen as long as the the universe continues to exist.
What is VOTING POWER?
Everyone of you have a specific amount of voting power. Let us consider it as a tank of water. With everyvote you cast the tank drains, but not to worry because the tank replenishes itself at slow consistent rate. If the tank is completely empty it takes 5 days to refill the total amount, that is 100%.
What is STEEM POWER?
As you earn more money your stake in the platform increases. Stake is determined by steem power, your vested long term holdings , but wait there is more...When you reach 500 steem power you gain the ability to scale your votes rather than using a full power vote everytime. You can realease anywhere from a 1 to 100% of a full powered vote. Thus diminishing your loss and choosing wise.
Never run behind upvotes for upvotes. It is important that your vote must worth.
You give us a great information. Especially new Steemitian
Amazing article for new commers keep it up good going
@originalworks
informative instruction. carry on.
Thanks for the information, I was confused about voting power.
@steeminformation
You got voted by @curationkiwi thanks to dreamseller! This bot is managed by @KiwiBot and run by @rishi556, you can check both of them out there. To receive maximum rewards, you must be a member of @KiwiBot. To receive free upvotes for yourself (even if you are not a member) you can join the KiwiBot Discord linked here and use the command !upvote (post name) in #curationkiwi.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by dreamseller from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Thanks for help
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Thanks
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