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RE: How Steemit Payouts Work - A Beginners Guide

in #steemit4 years ago

OH THX !

A lot of steemians don't properly understand that the value of SBD is essential. We need to choose split option until SBD > USD

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We need to choose split option while SBD > USD

The exception is if the witnesses make a change to how rewards are paid, which they are able to do!

oups (fucking french guy :) - thx for the correction).

Can you give me more informations ? I don't uderstand :(

The exception is if the witnesses make a change to how rewards are paid, which they are able to do!

The backend of Steemit is the Steem blockchain, which is updated by a group of witnesses voted into power. These witnesses set the rules of the Steem blockchain.

For example, currently when you are rewarded for posts SBD is treated as if it has a $1 value. This means if the network wants to pay you $10 worth of SBD, it gives you 10 SBD. The actual value of SBD right now is USD$8.55, so the witnesses could update the network to reward SBD valued as such, instead of $1. This means if the network tries to pay you $10 worth of SBD, you would only get a little over 1 SBD.

Sorry, it's still bit confused for me.

Did you mean the witness can do that by modifying "sbd_exchange_rate / base" parameter ?

Thx !

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