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RE: How Steemit Payouts Work - A Beginners Guide
Thank you @dutch! This post helped clear up a lot of confusion going on in my newbie brain.. I'm grateful for you taking the time to write it :D
So I'm paid when I up-vote a post which has been tipped?
Yes - but it is more complex than that. In this post, I did not want to dig into curation rewards fully, but here is the gist:
When you upvote someone, you become a curator of that post.
Curators get 25% of the total post payout. Each curator gets a different portion of that payout.
Curators earn more if:
they vote earlier than other curators
they have a higher vote weight
they vote as late as possible, with this bonus capping at 30 minutes. The earlier you vote, the more of the reward goes to the author instead of you.
Given the above, curation is effectively a reverse action system. You want to vote on a post 30 minutes or more after it was posted, but you ALSO want to vote before everyone else. It's a balancing act.