Steemit 101 - Upvoting

in steemit •  2 years ago  (edited)

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I've decided to take my time to help out spanky new steemit minnows. Even though I myself am currently in a bit of a steemit slump and posting help like this won't really help me in growing but seem as how I'm not really earning much lately I'll focus some of my time in the service of newcomers as after all you are the future of Steemit.

So my first help blog is focused on upvotes and how to use them as that little upvote arrow is the first thing you see and as a newcomer you give out upvotes like candy at halloween unaware of how they work.

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Upvotes are NOT unlimited so don't upvote everything you see

Your upvotes will be worth less and less the more you use them

VOTING AND DILUTION
Everyday you will get 10 upvotes before your voting power will begin to dilute for example at 100% voting power your vote is obviously at its most powerful and will have the most impact monetarily.

As your voting power dilutes your upvote will be worth less and less until it reaches 0% where it will be worth nothing.

To check your voting power go to https://www.steemnow.com

This website will show you your current voting power and also how much your upvote is worth at your current voting power percentage. In order to replenish your voting power you will need to stay beneath the 10 votes per day and your voting power will then increase by 20% per day untill it is fully replenished, provided you don't vote beyond the 10 votes per day. Still with me?

WHAT WILL VOTING EARN YOU?
So many minnows don't understand how curation rewards work, so when you upvote content the author of that post will receive 75% of the value of the post and the remaining 25% is distributed to the upvoters in steem power based on the Steem power of the upvoters.

A lot of newcomers hear about curation rewards and wonder why they aren't getting any when whales are earning big on curation, that is all down to steem power and their high steem power means they have more of a say in where the reward pool is distributed, minnows have almost no steem power therefore have very little say in where the reward pool is distributed.

Many people may convince you to forget about looking for author rewards and try gain in curation. As a minnow we receive very very little for curation due to the value of our vote being so small on average I get 0.001SP per curation reward which isn't really going to get me rich is it?. So don't just give up on writing valuable content just because you're only earning a few cent, growing takes time and as you write articles you will slowly gain followers who will see you content in their new feed, when you start out your content only appears in the 'new' and particular 'tags' content feed which due to the amount of articles posted your work will often flash out of view before many see it.

Curation only really makes a difference as you progress as a steemian probably from Dolphin onwards (5,000 Steem power).

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WHAT SHOULD YOU DO WITH YOUR UPVOTES?
Don't upvote every single post you see, theirs no point, in order to grow on Steemit you need to upvote what you find valuable often when someone upvotes me and comments I will take my time to look through their content and vote and comment on one of their posts, this is networking and finding a common ground with your followers and having social interaction with your upvoters and followers will encourage them to come back to your blog and upvote you again in the future.

Check out the new feed and read a few articles and upvote only what you enjoy, you check out a post you like then upvote it and let the author know you enjoyed it after all Steemit is all about rewarding great content not just rewarding someone in order to get them to follow you.

If you are looking for curation rewards the easiest way to get NONE is to upvote a post already valued highly. The way to get curation rewards is by finding a post that you think is valuable early. As in if you are the first person to upvote a post that will be worth $1000 you will get the most curation based on the power of your vote as you were the first person to recognise great content that the community as a whole expresses as valuable.

SO HOW SHOULD YOU USE UPVOTES?
Use your upvotes to reward content you enjoy plain and simple, as a minnow there is no strategy to upvotes in regards to curation, your voting power is so small the actual rewards for curation are so tiny I wouldn't worry about it. The only real strategy for growth with upvotes is to check out the content of your followers and reward them IF they posted something you enjoyed.

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Thanks rickyjrx. I am slowly understanding steemit. I even checked myself out on steemnow. I was at 94% voting power, so I'm not going too over my voting power, I think that is what it means. But, I was giving out upvotes like candy for everything.

  ·  2 years ago (edited)

I used to be the same but the latest hardfork means over voting dilutes your voting power too fast, anywhere in the 90% range is good. At the moment ive upvoted quite a few followers lately and im sitting around 60% so I'll have to slow my voting down as well.

wow

As I was up-voting a post, I wondered if there was a deterrent to mass up-voting.. thanks for the answer! I saw your comment about steam power weight algorithms and keeping things simple, but I am wondering what the relationship is between being an early up-voter and steam power. If a minnow is the first up-vote on a post that gets huge and is later up-voted by whales, will the minnow still receive a very small portion of the curation rewards?

Thank you amazed you found that article!

that link to see what your power is showed a different users name.

This post received a 3.6% upvote from @randowhale thanks to @rickyjrx! For more information, click here!

Thanks for helping me cut through all the seaweed down here... (-:

No problem, thanks.

Thank you this makes sense - being a teacher I want to reward everybody for their efforts and I did not know there is a limit to the upvotes, oops I found that out now...so from now on I will be more selective

The worst part is how long they take to regenerate, a full 5 days it reach 100% again

Ugh goodness - so I guess I will start behaving myself and just wait

They need to fix it, for a while it worked and everyone thought it was great, now nobody has any upvoting power or refuse to upvote because they are afraid of the dilution. Hopefully the next hardfork will fix this.

O ok so it is not only me -I was thinking to myself that is why a lot of posts go unnoticed or unvoted because people save their votes

  ·  2 years ago (edited)

Big time im seeing a lot less upvoting, not just to save their votes the problem is they dilute so fast and recover so slowly

Yes , like I say this all confuses me just more - I want to upvote so many people but now I cannot do it

Very helpful post. Upvoted, resteemed and followed.

  ·  2 years ago (edited)

Thank you. There is more to it than that but rather than go into algorythms and steem power weight I try to keep my posts in as simple terms as I can to explain.

Every little bit of understanding leads us closer to the truth :)

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by rickyjrx from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.

Saved this one as it explains loads! Thank you!

  ·  2 years ago (edited)

No problem, thank you! And I'll try explain a lot of things that I had no idea of when I first started out

Great post! Why didn't I see this post two months ago! My voting power is way down today.

Many thanks for your time and effort to help us! Very good deed and karma.

Cheers

Thank you so much ! I am a little closer to understanding the math of this platform!

Very helpful post for beginners