Perfect breakdown on how we get PAID from Steemit - From Post to Pocket #351
This is something just now added to steem.supply. That is all i put into my browser, no .com are everything , just steem.supply and enter. It is software hosted by @dragosroua and shows you predicted weekly earning. He has added a rewards calculator and it has the perfect breakdown of how you get from your post payout to what you actually receive. For 1, the dollar amount on your posts are neither SBD are Steem dollars. WHAT!!! i hear you say. So what is that dollar amount? This example of the the process is perfect.
Full credit to @dragosroua
We can only dream how to spend our Steem (Not a real thing, dont ask about it)
This example uses a hypothetical post which is listed for $10 upcoming rewards (or STU, see below).
How rewards are calculated on the Steem blockchain
The main confusion point is the "$" displayed by default near the rewards by Steemit (and busy, and eSteem). This "$" is not a USD. It has nothing to do with it. It's also not a SBD. So, what is it? It's what I'l call from now on a "Steem Token Unit", or STU. This is different from SBD and STEEM as currencies, and it's actually the expression of the underlying value storage in the STEEM blockchain, which goes under the name vests.
So, the potential reward you see near your posts is actually expressed in STU.
Example: you see near your post $100. In order to understand how much you will get, we will talk form now on in STU whenever we refer to the numbers the Steemit UI is showing. So you actually see near your post 100 STU.
Out of this, you give away 25% from your STU to curators.
You remain with 75 STU.
This amount is split 50 / 50, with the following algorithm:
the first half is given in SBD, in the exact amount shown by division. In our case, half of 75 is 37.5. So you get half of your rewards as 37.5 SBD
the second half is given in Steem Power, at the current feed price (the internal Steemit price for STEEM) in USD. So you get $37.5 worth of Steem Power. If the current feed price of STEEM is, let's say $6, you get $37.5 / $6 = 6.25 Steem Power.
Please note the difference: you get SBD directly as half of your rewards, but you get your Steem Power at the current market price of STEEM, not in absolute numbers.
You get half as SBD, and half as usd equivalent value expressed in SP, at the current price of SP in USD.
The end result for something that displays 100 STU near your post:
37.5 SBD
6.25 Steem Power
Let's see how much this means in fiat at the following prices: STEEM = $6, SBD = $8.
37.5 SBD x 8 = $300
6.25 Steem Power x 6 = $37.5.
So $100 displayed rewards, are actually equal = $337.5 real USD.
This is interesting. Just when I thought I was starting to understand this whole economy lol. Well thanks for the tip I have more research to do now lol.
Yeah, its hard to keep up.
@silverstackeruk That STEEM Card does looks Good even though it is currently only a Fantasy..........
I almost creamed myself when i saw it, then instantly saw is as not a thing. :'(
Nic post
Just followed
Thanks, i kept it short and sweet 😎
Thank you for sharing.. Upvoted and resteemed
Thanks buddy, thought this was worth sharing :)
I saw a post from another user I think @themarkymark about how the curation is actually less than 25% for some reason and closer to 16.8% but I am not totally sure! Thanks for sharing this information! Many people are curious how it works!
I get around 38% into SBD. If i got $10 for a post, i would get 3.8 SBD and a some SP. Found it a good read.
I must check out this guy here. Thanks sevin :)
You’re welcome! I wonder what the algorithm is to determine what percentage is curation and what is given to the author?
oh wow, until I read your post I wasnt using steem.supply but something else. Steem.supply is way way better to check up your inputs.
Thank you @silverstackeruk . Quick question, do you convert steem to brits?
I enter my BTC debit card wallet address into blocktrades and send whatever Steem i want to convert. From there i exchange to BTC on my wallet into pounds sterling and use the debit card to buy brit's. Hope that answered your questions ok
Thank you for this post. You just blew my mind. I am very new to steemit. I have made 4 steem dollars from my post. So you are saying that those 4 steeem dollars are actually work like $21 US dollars at a conversion rate of 1 steem dollar to 7 us dollars? Thanks
The 4 Steem dollars you earned from you posts are not neither Steem are Steem dollars.
They are STU units and this is how things are recorded on the blockchain.
In a nut shell, you will get back around 40% of that STU amount into SBD when the post finishes. It's confussing as hell, lol
Welcome to Steemit man
Interesting information. I really have no idea what any of that meant though😯
great simple breakdown cheers bud :)
No sweat, when i seen it, i thought i had to share it.