Want to become a Steem whale? Steem Power and Vests only tell part of the story
There are few things in life better than watching your Steem Power go up. Every time you look at your wallet or hit the refresh button, it's on the rise. Although SP and Vests are magical and amazing, they don't tell us everything.
Today I'm going to build on that and talk about tracking your progress up the ranks, on your journey to becoming a more influential, and powerful version of your current self, and I'll be doing it in a way I haven't seen mentioned very often, or really, ever at all.
Now that we've crossed the 100,000 user threshold, I feel it's more important than ever to discuss some of the more complex intricacies of Steem, in hopes that I can help new members and veterans alike, when it comes to getting the most out of their time on here.
Steem Power and Vests
The two most common ways to categorize where Steemians fall on the bell curve is by comparing Steem Power or Vests, and for good reason. Steem Power and Vests influence how much our votes are worth, the curation rewards we receive, and impact the "interest" that we get every second of every day.
On top of that, Steem Power and Vests (or MVs), are easily accessible and are available for anyone to see. You can access Steem Power by visiting your wallet, or the wallet of anyone else you're interested in. To see how many Vests someone has, you can visit steemd.com and add a username onto the end like this:
In the top right corner, Vests are shown:
For anyone not aware, the M = 1 million vests. So 18.43M vests is actually ~ 18,430,000 Vests.
Often times we see ranges given in SP or MV's to categorize whether we're a minnow, dolphin, or a whale, and that data can be used to make a lot of interesting and useful conclusions about everything going on here.
However, there's a downside to only tracking Steem Power or Vests, which is:
They only track what you are doing. They don't factor in what everyone else is doing as well.
So although your SP may constantly be on the rise, so is everyone else's who isn't currently powering down.
Because of that I'd like to introduce another metric which I feel is extemely valuable to help track your growth and progress:
Vesting Shares Percentage
The main advantage of using Vesting Shares Percentage is that it tracks how your SP/Vests change in relation to everyone else. By watching this number move up, down, or stay the same, you can gain a more accurate picture of your progress to moving higher up on the food chain.
So how do we calculate our Vesting Shares Percentage? It's simple and straightforward:
(vesting_shares / total_vesting_shares) * 100
So basically we need to know how many Vests or MVs we currently have, and the total number of Vests on the Steem network.
Step 1: Determine your vesting shares by visiting the image/url I listed above which is https://steemd.com/@username where you substitute "username" for your actual username here on Steem. Like the example above, your MVs will be listed in the top right of the screen.
Step 2: Determine the total vesting shares by visiting https://steemd.com/ and looking for "total_vesting_shares", which can be seen as the last number on this screenshot:
Step 3: Finally, we divide the two and multiply by 100. For myself it would look like this:
(18,430,000 / 453,907,455,229) * 100 = .00406
In my case, my Vesting Shares Percentage would be .00406%
If math isn't your thing, or your eyes glazed over just reading that, you're in luck.
If you visit http://steemstory.com/ and type in your username and wait about 30 seconds, you can skip everything we just talked about! Big thanks to @roelandp for doing all the work for us.
So, how does this help us?
Obviously the higher our percentage, the more lucrative our votes and curation will become, and we will also get more "interest" on a daily basis. This is because for every Steem that's created, 9 Steem Power are allocated proportionally to all Steem Power holders. That should mean that I am currently getting .00406% of all Steem Power created daily.
With that being said, if this number is moving up on a consistent basis you can be rest assured your Vests and SP are moving up faster than the average user, and that you're probably pretty awesome at life.
On the flip side, if your percentage is staying the same over the long run, you still might be doing well! I say that because as more and more people join the Steem network, it would be natural to see your % move down due to the ever growing number of people that are splitting up all Vests. Said in another way, having 1% of the vesting pie would be impressive with 100,000 users, but not so impressive if there were only 10 of us.
I'd like to sum up this post be reiterating that in general, using Steem Power and/or Vests are a great way to compare ourselves and can be used for many different projects and ideas. However, another metric to take into consideration is our Vesting Shares Percentage which factors in not only our actions, but those of everyone else as well.
As a side note, the "Pay me 100% in Steem Power" box has been checked on this post. I'm here for the long haul, and would love to know what you think about everything in this post. Thanks for reading!
*All images are courtesy of pixabay and my iphone*
There arn't really 100,000 active accounts on steemit. More like 8300. See
Your calculation is incorrect if you are counting all the vests in the network. All you should count is the active vests in a 24 hour period because those are the only ones that can influence distribution of rewards through voting. And of course not all the accounts that are active vote, some just do drive-by posting and leave (especially the accounts which get upvoted by the bots and hence don't need to do any socialising).
Correct, I don't believe I said there were 100,000 "active" accounts :) Certainly most accounts here are inactive in any 24 hour period.
I see your point about only using vesting shares from active users in the last 24 hours. I may not have been clear with what I was calculating. If we we're calculating the % of the rewards that each users votes is responsible for, then yes I agree with you.
Using the total vesting shares is necessary in this calculation because I wanted to take into consideration more than just your voting influence. I also wanted to capture how much of created SP users earn everyday, even if they're inactive. I guess it's not the exact % I am interested in, but more about tracking it's change over time.
Thank you for your comment, it already has me thinking about a way to track influence of the distribution of rewards in any 24 hour period based on other active users.
Great post @driv3n! It was a pleasure to read it!
You're welcome! Thanks for dropping a comment and stopping by. I hope to have some fresh Steem content later on this week.
This was really informative. I thought I had a good grasp of SP and MV and all that, but adding in the additional metric of Vesting Shares Percentage is a real eye-opener. Thanks for sharing this. BTW I absolutely love steemstory!
It was an eye opener for me too and now one of my favorite things to track... unless I see it moving down haha. I also love steemstory, there are so many great sites dedicated to Steem... it's pretty amazing.
Thank you! Much appreciated.
I have found some interestiong moments here, thank you. Don't know how to use them. But anyway, I like the idea ".... having 1% of the vesting pie would be impressive with 100,000 users, but not so impressive if there were only 10 of us..."
You're welcome, and I'm happy you appreciate my attempts at humor :)
I like it..Thanks
Glad you liked it, thank you!
This was very informative .thank you for this information :)
You're more than welcome, I'm trying my best to bring new ideas to everyone. If it helps even one person than I feel I've succeeded.
Interesting article. Thanks for the info
You're welcome, thanks for reading and commenting, I'm happy it helped.
This is a quality post that has very real and practical value to just about ever Steemian!
Great Job! Followed and UPed!
Thank you! Comments like this mean more to me than any rewards I get, it means a lot to me that you found it so helpful.
You deserved it as this post is much more valuable than the payout regards.
Grateful I was able to give you some value you earned.
Very nice! Great job!
Thanks, working on a new Steem related post for tomorrow, hopefully it'll be something you've never thought about before!
This article and "investing-in-steem-power-the-current-price-of-steem-is-only-one-factor-to-consider" have been one of the most eye opening articles, really clear and indepth. I know I'm 9 months late, but really appreciate this kind of info. Upvote is useless (sadly) but you have a new follower.