How much Steem Power makes an upvote worth $1.00?

in steemit •  2 years ago

In this post, @bestmalik asks, "How much Steem Power makes an upvote worth $1.00?"

The answer is, "It depends." Here are some of the things it depends on:

  • Variable exchange rate: Internally upvotes are based on STEEM, not dollars. So your account's upvote dollar value will go up (or down) based on the market price of STEEM.
  • Competition for limited reward pool: The reward pool is rewarded on a no-reserve basis, meaning that if only one person upvotes posts, their upvotes will control the entire reward pool; the total of their pending upvotes at any time would be worth about $200,000 at current market prices. Stated another way: If Alice's account was idle and then becomes active, the rewards for Alice's upvotes come from slightly reducing the rewards for everyone else's upvotes. If Bob's account was active and then goes idle, the rewards that used to go to Bob's upvotes instead slightly increase the rewards for everyone else's upvotes.
  • Payouts are nonlinear: As a post accumulates upvotes, its rewards per upvoting SP increase. So if your account adds $1.00 to a new post, it will add a lot more than $1.00 to a post in the $5000+ range.
  • Soft rate limiting: Each account has voting power which decreases on each upvote and regenerates at a constant rate, so if you vote a lot, each individual vote will be worth less.

For reference, this account's upvotes are worth about $0.20 - $0.30 for posts without any upvotes.

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Nice explanation. It should be linked to FAQs. It also explained the reward pool question I had in the back of my mind but never found the time to ask: I was unsure whether the idle curator votes were empowering active curators.

The only thing I see missing is the bullet for voting power and how it affects the upvote value.

So... based, on the 0.20-0.30 figure for your SP, and the price decline over the last hours, I extrapolate it'd take something like 60-80k SP to get to 1$.

It's somewhere in the 100,000-200,000 Steem Power range.

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can you explain to me what vests are?
my votes are worth half of my wifes, even though i have much more sp.
but i noticed she has a lot of vests.

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So for the small price of half a million dollars you too can upvote a dollar?... Wow... lucrative... lol

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A $1 upvote can be very lucrative if you're smart with it. Remember your rewards from SP and voting, content creation etc is all free money. The half a million dollars is still in your account and its value will fluctuate with the markets so it could go up or down. Some bots have a total $300+ upvote value which would cost a staggering 150 million approx. I'd love to know how much these whales paid to earn so much wealth because I very much doubt they invested 150 million. More likely they bought a load of steem before launch for a small amount and its value has grown over the years.

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i really have a long way to go. my steem power is 0. bla bla. for sure being top of the pyramid is not that easy.

That's a good explanation! Exactly what I and many users not enough

thanks for this. always wondered how this works.

how long does it take for your upvote to "hit full power again"?

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You can check your vote power here: steemd.com/@username (yes there's a guy named username). It replenishes constantly during a 24h period.

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Thanks for the link! So if I understand correctly your first upvote of the day is worth more steem dollars then your second and so on?

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Ah I already know read the article too fast :P

I had always wondered this! Glad you explained so I have more of an understanding:) Thanks-

Great to know :)
Tanks

Nice to know thank you

Interesting! Thank you for sharing.

thorough and informative. thanks!

Hello thanks for the post, I need some help and it seems like you understand the STEEMIT system wel, so what do I do if the money next to my post doesn't convert into my wallet? My first post has made over $1000 but in my wallet it says: steem= 0 , steempower = 3.042, steem Dollar=0, estimated value= 11.05 ? I don't understand this can somone explain? I tried to power down and then this Pops up: account registered by another account requires 10xaccount creation fee worth of Steem Power before it can Power down. What is going on? Someone please explain, thank you!

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Post rewards are not paid instantly , about 24hours after, sometimes more. By looking at your wallet right now, you did get paid for that big post, 3 hours ago, or 14 hours after you posted this .... The power down feature, is converting Steem Power back into Steem (which can be traded and sold) slowly over the course of two years, in 104 equal weekly payments.

If you need the cash, sell some of your 911 Steem Back Dollars to an exchange for Bitcoins, and you can then sell those for your local currency . (I would suggest trading some for Bitcoins, and some for Steem ... doing SBD -> Steem -> Steem Power is alot faster than using the internal function, which takes 1 week)

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@mrs.steemit Just wait until it completes a total of about 24 hours from when you posted. Then it will show in your wallet. You will see also an entry in the History section of your wallet. You will likely receive some Steem Power and some Steem Dollars. Steem Power is more like an Account in the bank that you can't touch for 2 yrs (sort of) but it gains alot of Interest (or you could say 'Steem) And Steem dollars can be worth about 1 U.S. Dollars or a little more. You can convert Steem Dollars to Bitcoin, then to Cash. Anyway , enough for now. Let m know if you need any more questions answered.
@streetstyle

i had a similar expirience and tested it.
i have upvoted you, and you did receive around 1$ from my vote

https://steemit.com/steemit/@knozaki2015/my-upvote-was-worth-5-06-usd-25300-or-how-to-earn-the-maximum-curation-reward

Aquí está traducido el artículo al español.

waoooo this is beatiful <3

Has there ever been any discussion of flattening the reward distribution to make them less top heavy?

Thanks for sharing this, I was just wondering this when I came across the post.

Nice work! Apparently my upvote is worth $ .00

I've even watched my upvote take away $ lol.

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That would be due to the market price of steem changing in the time it took you to read the post :)

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Ah! That explains it! They should animate it up... and then just delay the price going down a bit... although, maybe it's a good idea to scare people off voting and really making them think twice! :-)

Just curious, what does it mean that upvote regenerates at a constant rate? (very useful post btw)

Thanks for the explanation. The gist is that there is no direct answer.

You have my upvote of approximately exactly $0.01 :)

Good info, especially the rate limiting which I was not aware of.

uprooted! thanks for this clarification

So in terms of 'profit' it's actually better not to upvote to much posts because once upvoted you lose all your steem power?

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Hm, yes. It seems like. I´m confused now ^^

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just go to steemd.com and type in your name

there you will see your voting power...

i have posted 2 different screenshots, one before and after an upvote and you will see the voting power goes down on the second one

thanks bro your post is very useful to understand about upvotes worth

Good share. Thanks

So...

  1. I have to have 100,000+ steempower to have my upvote be worth $.50-$1 ?

  2. Articles over 7 days old don't accumulate update earnings? (And, so there's no reason to upvote an article if it's over 7 days old?)

Yeah,.. thanks for the explanation.

Steemit is good framework. But we need to improve it more and more like categories News, Videos, Articles, Images etc. Rightnow, it feels like it is never ending scroll on hot steems.

wohuuuuu! i can you do that buddy?? Please tell me where do you get this knowledge about steemit ?? I will appreciate if you tell me.

wow these comments you can get lost in

this is too confusing, I need a chart

mine is like .0001 lol.!!! actually :((

This is educative.

Competition for limited reward pool: I didn't understand any of that. ;(

great information.

Ok, now I understand xD

Wow thank you for this informative post, it helps the rest of us newbies catch up.