Hardfork 19, And Here's Everything You Need To Know

in #steemit7 years ago (edited)

Dear Steemers,

Perhaps you already know this: Hardfork 19 is here.

new-hardfork-steemit.jpg

Some of you are jumping with joy. Some of you are silently observing. Yet a large percentage of us don’t know what’s going on.

That is what this guide is all about.

This guide will help you understand Hardfork 19 and why it matters to you. It will show you what's happening right now and what you should do next.

I am keeping this article newbie-friendly, so no technical talks. I will also be updating this article regularly, and I would love to hear your thoughts in the comment section below…

Let's get started with the basics:


whatishardfork.jpg


To understand Hardfork, it is important to know what a fork is.

Simply put, fork is a software change. One can automatically or forcefully introduce fork to any network.

In our case, this fork was introduced forcefully by the developers.

Which means Steem developers have made the following changes:

  1. They have made changes to the software
  2. They have made changes to the rules

Both of which are packed in Hardfork 19. So, in a way, Hardfork 19 is really a software change introducing a new set rules (or algorithms).

Remember: Hardfork 19, though, must be accepted.


work.jpg


This Hardfork 19 must be accepted by the Steem Witnesses. We, as users, nominate these witnesses. Just think of all this as an election.

We are collectively making a decision here.

Fortunately, for us, this decision was already accepted. And today, as you read this post, Hardfork 19 has already been implemented on Steemit.

Question is: Why introduce Hardfork 19?

Because the goal is simple:

To effectively spread fairness around the community.

In the past, whales dominated this platform. They have controlled it. And with this new change, minnows (new users) have a little more control than before.

This control is limited as you will see soon.

For now, remember this is a positive change geared towards fairness because...


new-hardbroo.jpg


With Hardfork 19:

  • Your voting weight has changed

Now our voting weight should be 4 times more valuable.

For example: If my single vote gives you 3 cents, then the same vote should give you 12 cents.

At least that's how it should be.

However, our voting weight is now significantly higher as I type this. Why? I have no idea. My 3-cent-vote is now worth 40 cents and above.

It gives us enough power to vote and encourage other authors on the platform. It, unlike before, gives us enough control to not rely on "whale" upvotes anymore.

Your game is now simple:

Publish. Connect. Engage. And earn your fair share.

That's pretty fair, don't you think so?


voting-power.jpg


Here is where you should know about Voting Power (VP). Every Steemit account comes with a Voting Power of 100%.

If you, for example, vote everything, then you are reducing your Voting Power.

In the past, one can easily vote 40 times a day without losing this power.

With Hardfork 19?

You are losing it a little too quickly. To simplify, you can vote 10 times a day at 100% Voting Power. This does not mean you cannot vote after 10.

You still can.

It is just that your voting weight (value) will be lower.


voting-question.jpg


For many reasons:

Perhaps you have a friend here who wants your love.

Perhaps you read something interesting.

Perhaps you want to encourage good authors.

Or perhaps, the biggest of all, you are voting to earn curation rewards. Because, remember, you get paid to discover new content.

So you can cast your vote even after 10...

Or, as another way, you can change your voting weight percentage. (Discussed in Tip #2 below).


Tip #1: How to check your Voting Power:

Go to Steem DB. Enter your name in the search bar (top-right). Hit Enter. Then you will notice, under your name, your Voting Power in percentage.

Tip #2: Change your voting weight percentage:

If you have over 480 Steem Power in your account, you will get a voting slider every time you vote. It looks like this:

www.GIFCreator.me_HNc919.gif

You can move this slider and decide your voting weight percentage. So, as an example, if you vote on 50%, you can cast 20 votes at full power.


next.jpg


As Hardfork 19 is active right now, you will notice a change in your current posting rewards.

All the rewards you have earned, in the last 7 days, have changed.

For many, your earnings have doubled or even tripled.

And for a tiny percentage — with posts earning well over $1000 — rewards have significantly dropped.

Rewards are actually circulated. They are going back to the less-powerful users.

Just look at this chart:

steemit-accounts.jpg

Here you can see 98% of the Steemers have less than $100 in their account.

Their votes were insignificant before. And now, with Hardfork 19, their votes are much more valuable. So it's safe to say Hardfork 19 was a much-needed change for the growth of this platform.


hardfork-question.jpg


You have seen the definition of Hardfork.

Then you saw how it works...

And the changes it brings to Steemit.

You also saw how valuable your votes are right now.

Plus you saw why it is important to vote valuable content.

And then, finally, you saw how fair Hardfork 19 really is.

So my question to you:

What do you think of Hardfork 19?

Have you noticed it yet?

Any changes in you rewards?

Feel free to share your thoughts in the comment section below.

Cheers,
Sid


Liked this article? Feel free to comment and upvote and resteem.


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thx very useful overview.

so before I could vote 20 x 100% votes and my voting power would charge up within 24 hours to 100% again.
Does this still hold true, with 5 x 100% votes?

My 100% vote was around 20 cent, now I my vote is worth several dollars which seems pretty weired but I am not complaining.

At least you're able to do more now, for yourself and the community :) It's good to have a few dollars to move around. It helps get the posts you want going :)

You are right. It should charge up quickly. Like you, I am always a little weired out... and not complaining. ;-)

I see you got a lot of power. :D

Take my 41 cents!

so the SBD amount created in total is still the same right?

Look at the price of SBD: https://coinmarketcap.com/currencies/steem-dollars/

You get MORE it! :)

lets see how this how much this will affect the price if so much SBD will hit the market.

This corroborates what I thought HF19 was all about. Thanks.

Personally, I saw a massive positive change in payouts for the last 7 days. I mean... it's astonishing.

I think that this fork changes the game in many ways. It changes the targets of attention and the methods of getting them.

It is geared for the new user... which is interesting. Now, if you're new, you're valuable, because the upvotes of 100 minnows is now worth more than 2 dolphin.

@shayne

Thank you for your sharing! It is very informative and explained in details! I was really shocked by the changes brought by HF 19, I didn't expect it would be that powerful. Before the HF19 has been launched, my votes likely got no impact (less than 0.00), and now I finally saw some number moving! Although my influrence power is still likely low, HF19 does motivate newbie like me to keep on steeming.

As a newbie myself, I understand the pain!

This update is amazing.

And I am so glad to see you are powerful! :D

Keep Steeming!

great post, I think HF19 will change a lot in the ecosystem over time, much more than just the shock value of people noticing their retroactive changes on pending rewards this has a significant impact on the growth rate of dedicated new people, so they actually stand a chance to accellerate up the ladder without attracting the votes of whales specifically. My biggest problem with steemit has been that posts go from 0-100 very fast because so many 0.01 votes then suddenly some huge vote and whale resteem to other big people, it was almost like a big game of luck before but now there's a good baseline where everyone has a bit of voting power. I think HF19 is extremely good ^_^

I didn't even realize that such a large population had less than $100 in their account. And I thought I was small.. That's crazy! Well I'm happy all the small users were affected in such a way :) And I'm extremelyyyyy happy about the bonuses. I'm curious already about HF20!

I know, right?

No one actually talks about it.

98% is massive. And so many users getting such an invaluable power is amazing...

See you got yourself almost $3 there.

Adding my 41 cents to you! :)

Cheers!

Cheers indeed ;)

Hey @sidwrites
This story made it to the ღ #steempearls of @tabea . Check it out at https://steemit.com/steempearls/@tabea/steempearls-11

This will encourage all to invest in Steem Power. Obviously the SP you have the more VP you have, but the value of the VP is what counts. You can can get paid more by minnows who has invested to boost their SP.

Thank you @sidwrites for this explanation of HF19 at one sight. I appreciate your work here! Have a great day!

Learning as I go & with more articles like this one I'll be a Pro in no time! I think the fork was a great thing for us all, my voting power went up significantly, Thanks for the explanation, upvoted & resteemed!

Nice, Sid! Anyone who doesn't understand what a hardfork is, and how this latest one affects us should get it after reading this. I forgot all about the change until I upvoted something a little while ago, and was like, "Holy strombolies, that carried a lot of weight!" I'm in the silent observer category. I've always been an 100% voter, but with my voting power reducing more drastically, I wonder if I'll resort to messing with the percentage bar.

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