Problem With Steem Power Rewards?
Just now I was supposed to collect about 167 SBD worth of rewards for a post (after about 50 was taken out for curation rewards). I selected the 50/50 setting, so I understand why I received 87.191 SBD... but why did I only get 14 SP?
87 SBD is worth like 100+ steem currently, so what happened?
Did it just up and vanish? Does the steemit platform internally only treat a SBD as 1 USD regardless of the price it's trading at?
Correct, the system calculates SP at the market average, but SBD as $1. That’s one of the reasons SBD should trend back down. Right now it is being produced at a much higher rate than SP!
So your payout is calculating the SP at about $6 each, and you get a lot more SBD calculated at $1 each. And if you want you can go to the internal market (or send them out to an exchange) and get tons of Steem. Your $160 payout becomes more like $600+. Yay overpriced SBD!
(To clarify, the $167 displayed as your reward on the post is in USD, not SBD. Thus the big boost on the SBD half and the smaller amount on the SP half)
(Edit #2 - We’ve been so accustomed to low Steem value that this ratio looks strange... but if SBD are at their full print rate, which is a parameter set by the witnesses, you’ll always see a multiple of them equal to the price of Steem in dollars. For example, if Steem goes to $20 you’ll earn 20 SBD for every SP you earn when choosing 50/50. In your case above you can see how the SP is about 1/6 of the SBD, which correlated to the present value.)
Thanks for clearing that up! I still have so much to learn...
Is it better to go SBD > STeem > ETH > USD or SBD > ETH > USD?
I have no idea! You’d have to compare a lot of exchange rates and they may vary based on your path through Blocktrades/Changelly/an exchange, etc.
I only ever have used Steem to Bitcoin through Blocktrades, then USD out of Coinbase. But that was in the summer when blockchains were less busy... If I was moving any out today I may look at Litecoin for processing time & fees.
I just got my first reward pay-out - yay! I was wondering about that too - is there an easy way to convert SBD to Steem, without a bunch of transaction fees? I have zero knowledge on how this works. How does the internal exchange work? And if there IS an easy way to do it, why isn't everyone doing it?
Everyone should be! If they’re not then they’re either unaware, speculating that SBD will go even higher, or sending their SBD to exchanges to trade for other coins and cash.
It’s very easy to convert, no fees. Just click on the menu in the top right and go to “Currency Market.” You’ll see an exchange interface. Click on one of the “Sell orders,” I generally click three or four orders down. You’ll pay the lowest prices first, so it isn’t overpaying, it’s just a quick easy way to set your max bid and if you just click on the top sell offer it might go away before you finish your transaction.
That price you clicked will auto fill in the “Buy Steem” price field, you can see at the bottom of the Buy Steem section is a tally of your available SBD. Type some or all of this in the “total” field and it will auto calculate the amount of Steem you are buying. (That amount will usually end up to be a bit more because you are overbidding but will buy cheaper Steem first.) Click Buy Steem and you’re done!
It’ll be in your wallet hopefully ready to power up!
Awesome - I don't have much to play with yet. But I'm definitely going to try this out.
I do it all the time, I think I have .70 SBD right now & I’ll do it! I like the voting rights, interest, and curation rewards of holding SP. And all those things work like compound interest - the sooner you get the SP the more it will grow for the future!
Thanks for the explaination @bryan-imhoff. I had been wondering the same question for a $170 pay out. And @drwatson thanks for the question... Following you
i also dnt know dear .... if some one explain this kindly tell me i am following you