What are VESTS?

in steemit •  2 years ago

I keep hearing the term VESTS thrown around Steemit, and I can see that I even have some VESTS according to steemstats.com. Can somebody explain what VESTS are?

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HAA, i laughed too hard at this!

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I am so sorry my explanation did not satisfy your curiosity. Perhaps some of the other responses will unlock the door!

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Is this an argument between two Bots? AI fight!

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Skynet has awoken...

...with split personality disorder.

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Aha I died of laughing reading this!

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An innocent answer from bot turns into trolling

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Oh dear, is this actually considered trolling? I just saw an awesome opportunity to make a Terminator reference.

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I LOL'd real hard because I even clicked the link, then the word "germent" hit me and i was like -_-

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Where's 'germent' mentioned? Didn't catch it.

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I'm sorry, garment. The joke was that a vest is a garment. You know. Clothes. In response to the first comment.

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Ah, yes...it was quite amusing to find a bot in the comments being as unhelpfully helpful as it could be. And another bot showing it attitude for it XD

Wouldn't have known they were bots if not for the first guy's comment.

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So how does steem ship us the vests, if they don't know where we live? LOL Hahahaha

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HOLY SHIT THAT WAS FUNNY!

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Im still getting a kick out of this even after months of it being posted 😂😂

https://steemd.com/distribution shows how much is 1MV which is 1 000 000 vests

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that doesnt help..lol thats like someone asking "What the hell is a MegaByte?" and answering "It's 1000 bytes" lol yeah but wtf is a byte? see what is a vest and why are we sometimes getting tem how do we get them who givs them and why is there no vest wallet ?

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Actually...

1MB (MegaByte) is 1,048,576 Bytes. In binary terms that is.

"...lol yeah but wtf is a byte?" -ackza
A byte is 8 bit.

I'm just saying ;)

NB! I'm glad the real question was answered 11 months ago.

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rofl :-D

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Trolling is good from time to time, but having the real answer too :-) makes it a little bit less bad.
Having fun reading comments here.

Also, i see the link with description of vests given above.

The answer, it was in links above. Vests from what i see, are "stocks" in steem company. I write down, just to learn them myself (i see somebody below said that too) :-).
And they can be seen in steem power from what i understand now.

And quoting from the above post
"... What that number is really telling you is the amount of steem it would take to purchase the amount of vests you have right now. ..."

So... it will be some time to understand that things, but till then, lets have fun writing and reading here.

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I find that "amount of steem it would take to purchase the amount of vests you have right now" is a bit unbelieveable. My wallet says my account is worth about $4 Steem dollars, but I have 8500 vests. There is NO WAY my account is worth $8500 US.

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Lol, i was at the beginning then. From what i wrote it is understood that they are equal. But they are not.

It is a formula that make it right.

But for now you can see them and make conversion here:

STEEM DOLLAR TICKER

8500 vests = aprox. $4.1380

So, they are exactly what you have ;-)

This will help you for start.

I still don't know the whole calculations and allocation here. Maybe someday i will go to learn them.

Cheers

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Thanks for the crack at an explanation, @ilvstranger. I noticed the calculator isn't working there, but above it states, "This tool converts VESTS in to STEEM. 1 VESTS = 489.94115909618 [Steem]". That can't be right. Seems like the decimal needs to move 3 characters to the left to be more inline with your figure above. Then my 1,034.005813 vests would be equivalent to 506,602 Steem, which would make the value in USD at the current $1.87 each worth almost a Million Bucks... LOL... So if I use your figure above of "8500 vests = aprox. $4.1380", then my 1,034.005813 vests would be equivalent to around $1.00. Unless your $4.1380 doesn't equal just over $4.00.

About the only other explanation I've seen here is that vests are stock in Steemit. So maybe that's why it's hidden behind so many veils, because of the regulators... LOL Anyway, this stuff is way too over complicated and almost seems to have been designed for that specific purpose and regulation seems to be the only thing that makes much sense. If that is the case, they should do away with it and simplify the system so that people can understand it.

yes my question too.. what are vests??

This is what vests are, you can call them shares of the company steemit steem

Just like real world stocks, a vest represents a percentage ownership of the steem-iverse.

I still don't get what's VEST

As far as I understood VEST is the smaller part of Steel Power just as the satoshi with bitcoin

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Well.. almost. As of 'now' this guy for example has 10,788.466743 VESTS so apparently you can have a fraction of a VEST too :)
EDIT: bummer, sorry, I misread 'smaller' as 'smallest'

My wallet says my account is worth about $4 Steem dollars, but I have 8500 vests. In my opinion vests are not worth much at all.

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They depend on steemitboard i guess, to tell if you are a minnow, orca, dolphin, or a whale.