STEEMIT HARD FORK 0.19.0; MOVING FROM THE 40 FULL POWER VOTE ERA TO 10 FULL POWER VOTE ERA
Steemit hardfork (hf) 0.19.0 is scheduled to hold on Tuesday, 20th June, 2017 at 15.00 UTC as observed on steemd.com . According to Steemit pre-release, 24 days ago, hard fork (hf) 19.0 is codenamed - EQUALITY and it is mainly about improving the linear reward curve. In a blog post I wrote very early this morning, something I consider an implication was examined, which is the need to accumulate more steem power in order to enjoy the vote impact benefits of the upcoming hf 19. Another important thing to take into consideration is the movement from the era of 40 full power vote to that of 10 full power vote.
Quoting an excerpt from the hf 19 pre-release on vote impact, it states thus
Source: https://steemit.com/steem/@steemitblog/2hfxx1-pre-release-hf19-linear-rewards
Personally, I underlined the areas, which this blog post would like to bring to the fore. It would be quite exciting for Steemians to see their full votes multiply by 4. My full vote (100%) for instance, from my understanding, after hf19 , would be $0.64 from $0.16 . However, this new era which we are about to enter calls for prudence with your votes, since we are moving from the era of 40 full power vote, as implied in the above quote, to 10 full power vote. Steemians, therefore, must learn how to manage their votes. This video shows new Steemians and some old ones, who might not know, how to vote including how to manage votes. It is good a good thing to prepare well ahead of time, so that one will not be taken by surprise.
Thanks for the post! It is good to stay updated about steemit. So I can give away 32 cents per vote now. Good, lets see how this plays out.
P.S up vote after HF (joke)
It's my pleasure, @micheil. Yes, it very good to stay updated about steemit. I agree. So happy that you are excited about your ability to give away 32 cents after hf19. I'm super excited too! We'll see how it plays out as you've rightly stated. Sure, I'll upvote you after HF19. No jokes! Your comment is highly appreciated.
Very interesting! I was wondering how voting power worked.
I had noticed my votes are generally only worth about $0.01c at the moment. But I'll be powering up mostly to begin with, so that should go up.
@futuristgear , It is quite interesting. I'm glad that my post is able to help you understand how voting power works. Congratulations on your vote now being worth $0.01!!! I'm very excited for you, because this is the beginning of greater times for you in steemit. I remember when mine was worth $0.04, the joy was so much that I couldn't hold back, but to broadcast it with this post, https://steemit.com/steemit/@maryfavour/my-vote-is-now-worth-0-04-usd-progress-to-becoming-a-whale . That was just a month ago. The open secret for me has been powering up, either by earning steem power or by buying it. So I'm happy that you are powering up. That's the spirit! I really appreciate your comment and contribution. STEEM ON!
Thank you @maryfavour! I think I'l hold off until $0.10c before making my own version of your post. :-D
You are welcome, @futuristgear. Alright, then. Please feel very free to do so when the time comes. Let me know at https://steemit.chat/direct/maryfavour and I'll be right there to celebrate you. Well done!
Interesting post, explaining one of the implications of this hard fork.
The "red fish", i.e. newbies, do not have a power bar during the voting power. I understand, that you get it when you have 500SP.
Thanks as always, @nenio! Really? I didn't know about this which you stated ''The "red fish", i.e. newbies, do not have a power bar during the voting power. I understand, that you get it when you have 500SP.'' I appreciate the information. This information is going to inspire me to roll out a project for all red fish, having below 500 SP. When you have time, let's chat in https://steemit.chat/direct/maryfavour . Cheers.
Thank you for this article. I just joined about 2 weeks ago and it looks like it may be the right time to be a minnow. I've been managing my power and not dropping it bellow 80% according to Steemd, but would this mean I should be up voting more?
@bruckdashel It's my pleasure. Oh a very warm welcome to steemit! Absolutely the right time to get to the next level of a minnow. Glad to know that you've been properly managing your voting power and not allowing it to go below 80%. The way I would answer the question is that it depends on what you want either to concentrate your votes on a post or spread your votes by controlling your voting button at a reduced percentage. For example, you can decide to just adjust your voting button to 25% and vote the same way you are doing now. I hope the explanation helps. Thank you so much for your comment and contribution. STEEM ON!
I think you need a certain amount of steem power to regulate the voting button right?
I think that is correct. Honestly, I didn't know if not for the comment of @nenio ''The "red fish", i.e. newbies, do not have a power bar during the voting power. I understand, that you get it when you have 500SP.''
Your 1 vote should increase more. Think of the difference from everyone getting n instead of n² share of the pool. The old formula increases your share exponentially the more you have, the new one is flat proportional. So all of this is getting distributed down now. Without crunching the numbers too much I'm just curious and waiting how that will play out.
Really? What I understand from the pre-release is not n2 (squared), but n*4. Maybe, I need to ask questions. Well, I am as curious as you are how everything will play out after the hard fork. Thanks for your comment.
why are there so many rules and intricacies on a basic social media platform? this will discourage newcomers and just like TWITTER - cause inactive accounts.
Because this isn't a basic social media platform. It's basic as far as bringing people on board a native cryptocurrency, but Steemit isn't like twitter or facebook.
Huh?
This isn't a basic social media platform. Steem is a blockchain; the entire website is a visually appealing and user-friendly method of accessing that blockchain. You don't necessarily have to understand how vote power distribution works in order to use it, which is nice for newcomers who aren't familiar with it, but if you want to concern yourself with how your vote is weighted, you are going to need to learn more about it.
Comes with the territory, if you think about it. Votes here are worth money, so I think it would make sense for a lot of attention to be paid at how votes function. Don't want people making a bunch of sock accounts and pumping a particular content creator.
Thanks, @anarcho-andrei for your indepth explanation and invaluable contribution. It was good that you stressed this '' Votes here are worth money, so I think it would make sense for a lot of attention to be paid at how votes function. Don't want people making a bunch of sock accounts and pumping a particular content creator'' . Only very few newbies/redfish (who have less than 500 SP /1million vests) understand this. I like the issue that you've raised about people making sock accounts and pumping a particular content creator. Unfortunately, I think this is already happening. We should begin to write about it. Hopefully, our concerns will be taken into consideration. I really appreciate your contribution. Cheers.
@cheapogroovo, your concern is noted. However, I am not one of the developers of steemit. This question would be best directed at Vandeberg (@vandeberg) and the Steem Blockchain Devs . I appreciate your comment . Cheers.
Well, when you make a blog, where do you go? wordpress.com? That's for sure more complicated than Steemit, yet has millions of users. And yes, there are abandoned wordpress blogs as well. Normal.
And if it would be too simple with too less features, wouldn't that be boring and turning off users? It's the versatile complexity that's exciting all kinds of users. From the food-picture-poster to the ultra-nerd. Everyone can find merit here.
I dont understand, if 100% vote uses a percentage of remaiming voting power, you never run out of voting power; whats the point?
Yes, @scalextrix, I agree that you never run out of voting power. However, from my personal experience of voting with my voting power, the monetary value decreases as your voting power decreases. At the moment, I cannot contribute $0.16, which is what my full power vote is worth by voting on any content. It has reduced to $0.15, because of my current voting power at 87.43%. Here a screen shot to help you understand better
Ok I guess as my voting power is $0.01, I dont notice it. Thanks.
You are most welcome, @scalextrix. Anytime.
I think it is a good idea. I prefer to upvote less posts but with more power. It will encourage authors to produce quality posts and comments rather than quantity. Also this will make curation more of a skill as you will really need to find good content rather than upvote everything just in case it becomes successful.
Well, it's not a bad idea, @erlik. However, it's quite challenging for me to almost always adjust the voter button, since I like to comment constructively on other Steemians blog post, apart from mine. The present limitation to 10 full power votes is not really giving me the opportunity to do that the way I would have loved to. I absolutely agree with you that it will encourage authors to produce quality posts and comments rather than quantity. That is already been proven to be correct from my observation. However, a Steemian of high reputation with over 100,000 SP, immediately after the hardfork, produced not less than 10 posts within a 24 hour window period. To me that was very irresponsible and he is earned an average of $250 on each of those posts. Certainly, not all all of his posts were of good quality. Curation is supposed to be a skill, but on steemit where you have bots I very much doubt if it is. For those who do not use bots to curate, this new era after the hardfork wil help improve curation skills. I really appreciate your sound comments and contribution, @erlik. Cheers.
Thank you for sharing this post , does this mean 10 votes and 10 comments how do they differentiate between the 2 or is it 5 votes and 5 comments to make up the 10 . How does it effect when one goes over the 10 ? I also would like to know if i make a comment on one of my posts to someone who has commented will this be seen as 1 or can i comment to every body on my post ?
Congratulations @maryfavour! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
Thank you so much, @steemitboard! I always appreciate the lovely badges.