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Good point! But there are also other variables, like curation part that has to be taken into account when calculating upvote value and probably this does not scale linearly with SBD to STEEM ratio. Will have to think about it :)

Anyway when STEEM is falling down you can see decreased payouts for all voting services. The good thing is that @tipU upvotes at around 80% VP, not 100% VP like bidding bots. So when there is lower demand for upvotes, @tipu just accumulates more VP (to 90% for example) that can be used later on for increased profit. Bidding bots can't do this since they already reached 100%.

The result of this (and few other things) is easy to spot :)
1.png

Hm. Yeah, I'd love to see a post that breaks down all the factors. Not that it would change my behavior, but because I like learning. Though when I learned more about how curation worked...that was eye-opening. There's a big difference between "all you need to know is..." And "these are actually the details"

I think small votes on reliable content are more fruitful than large votes on potentially explosive content because of what I learned, so that's useful.

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