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RE: TLDR Steem Whitepaper - Upvoting and Value

in #steemit • 8 years ago

This is a very good presentation that should help people understand the steem system.

On voting, I try to keep my voting power above 75% and I can monitor it at https://steemd.com/@kenny-crane (change my name of kenny-crane to your name). One has to balance the quantity of votes one does per day, versus the quality of each vote. I think if I keep my voting power above 50% then I maximize my return and my contribution to content creators. I haven't done the math on this, but I would think, as a guideline, try to keep your voting power as high as possible, and if it goes under 50% you may want to vote a little less and let the votingpower rise over time, as it will if you slow your voting.

On the value of Steem Power, I need to read the White Paper again, because I have a question about how much Steem one gets for their Steem Power when they power down. For example, if I power down 104 steem power, I believe I turn one steem power to steem each week for 104 weeks. But I'm not sure how much steem I get for 1 steem power. Is it one steem, at the current value that week, for each steem power? If anyone knows for sure, please reply. I do intend to find out for myself, but still, if you have an answer on this, please share. Thanks!

Again, good job on this post! Best wishes!

8 years ago in #steemit by
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     8 years ago 

    Yes it would be at the current ratio at the time of that weeks payment. From the whitepaper on p9:

    SP can only be converted back to STEEM over 2 years via 104 equal weekly payments. '1SP' can be viewed as a share in a pool of STEEM. The network automatically adds STEEM to the pool every block. At any time users can convert their STEEM into SP at the same ratio as STEEM in the vesting pool to total SP. Converting STEEM to SP does not dilute existing holders of SP. Likewise, every time SP is converted back to STEEM it is done at the current ratio. Individuals are guaranteed to have more STEEM in the future than they have when they first convert from STEEM to SP.

    "Likewise, every time SP is converted back to STEEM it is done at the current ratio."

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     8 years ago 

    Thanks for that!

    And I think I am seeing information on that ratio here: https://steemd.com/distribution

    Currently, it reads:
    Generated 2016-07-12 00:01 (UTC)
    1 SP = 1M VESTS = 209.545 STEEM = $61.816
    and I assume it is updated, at least on steemd.com, once a day at 12 00:01 (UTC).

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       8 years ago 

      See and this is exactly the kind of post I think should be pinned like I mentioned earlier today.
      https://steemit.com/steem/@will-zewe/let-s-make-it-easier-to-find-answers-about-steemit-and-its-features

      Make this type of post easy to find for the newbies.

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