STEEMIT NEW PAYOUT SYSTEM [Learn how it was gotten].

in #steemiteducation6 years ago (edited)

IMG_20180321_113428_139.JPG


As depicted in the image above(screenshot of my latest rewards), Steemit now pays in Steem dollars(SBD), Steem and Steem Power. Excellent right? Well, it's left for you to decide if it is better than the previous payment (Paid in Steem dollars and Steem Power).

The introduction of Steem in the payout system is the only difference, or rather the new payout introduced.
For the sake of those that doesn't know how everything is being gotten from the cash realised on a post, search no where, you are on the right post!
image
screenshot of a post by ogoowinner


I will be using this great post by @ogoowinner to illustrate the calculations. Happy birthday madam, may you fulfil your heart desires.

Let's get back to work.
She realised $54.38 from the post.
Now, 75% of this is meant for the author (@ogoowinner) while 25% is meant for the curators of the post (those who upvoted).
We all know this. Lemme rephrase, most of us knows this. But, as funny as it sounds, it isn't always 100% correct. It changes.

Note:

Author and Curator rewards isn't shared at a fixed percentage on every posts. It differs. You might earn more than 75% of the total earning in the post. It all depends on the time the curators upvoted it. The earlier and heavier their vote weight is, the bigger their rewards.

If we are to stand by the 75%/25% reward, she should receive $40.79 Authors reward and there should be $13.59 Curators reward.

Now, let's see the rewards on the post.

image


She got an Author's reward of $46.21 (85% of the total reward) while the remaining 15% went to the curators.

I hope we are clear about the splittings.
Now, let's focus on the Author's reward. That's what we should be interested in right now. The purpose of this post.

Your Author reward is divided into two. One part of the division will be your steem dollars.
When $46.21 is spllited into two, she received 23.11SBD. That's basically how you receive your steem dollars. Divide your Author's reward into two.

Steem Power, How is it gotten?
It's simple!
The other part of your Author's reward is divided by the current worth of steem ($1.89).
Dividing $23.11 by $1.89, we should be getting $12.21.

OK, hold on! You should be receiving this as your steem power right?
Not anymore, you will earn more than this. Relax, and see how it is being done.

The New Payout: How the figures are gotten.
If you had notice, the new payout reduces the SBD you should get, increases your steem power and gives you steem.

A percentage of your steem dollars is needed to make this work. This percentage varies, I'm still working on finding why it varies. Atimes 2 - 5% of your steem dollars is withdrawn and it is added to your steem and steem power.

In the case of @ogoowinner post, 2.5% of SBD is being removed from the actual SBD price.
2.5% of 23.11sbd gives 0.5546SBD.

Therefore, she was left with 22.565 SBD.

The total steem dollars she received from the post is $22. 57.

Now, the 2.4% part is being splitted into two.
One part will be your steem.
0.5546 ÷ 2 = 0.28

She received a total of 0.28 steem.

The other part of the division will be divided by the current amount of steem and it will be added to your steem power.

0.28 ÷ 1.89(steem worth) = 0.148.
Now, add this to the steem power from the post.
12.14 + 0.148 = 12. 3 steem.

Her final payout for the $54.38 post is: 0.28 steem, 22.57SBD and 12.3SP.

Her payout is shown below.
image
screenshot of ogoowinner's history payout


I said the percentage being removed from the final SBD is different right? Here is the proof.

IMG_20180321_131426_403.JPG
screenshot of my rewards


These are my recent claimed rewards.

Lets consider the first.
It was from a comment I made days back. Here's the actual reward on the comment.
image
screenshot of the comment I made


I had an Author's reward of 0.66 which was splitted into 0.33SBD and 0.18SP. I believe by now, we know how it was gotten.

4.8% of my steem dollars was deducted. 0.017SBD was removed from the SBD, so I was left with 0.314SBD.
Dividing 0.017 into two, 0.009 was rewarded to me as steem.
(0.009 ÷ 1.89) was added to my steem power. Making a total of 0.177SP.
That was how the reward was gotten.

As I said earlier, the percentage removal varies.

In Summary, SBD is gotten from half the Author's reward, a little percentage is further removed.
SP is gotten from the other half of the Author's reward. (Divide it by the worth of Steem).
The little percentage removed from the SBD is divided into two, one part becomes your steem while the other is added to your steem power after dividing by the current worth of Steem.

Thanks for reading.
If this helps, don't forget to upvote and resteem.

You can as well drop a question in the comment box.
If you have a different opinion/calculation of this recent payout, let's find out in the comment box.

Sort:  

This is really a nice post and so helpful. I was wondering what happened myself. How am I able to receive steem as part of my reward, but I'm all good now.

Thank you for sharing this with everyone. It's very informative!

Thanks. I'm glad it helped.

Very good analysis... Now I know how the analysis is being done

Yes. I'm happy it helped.

You just relieved me of the headache of how Steem is gotten. Thank you

You are most welcome.

This is an awesome post; so explicit. This clears any confusion I've had about the new payout system. Thanks for this.

Upvoted.

Thanks for reading through. I'm glad it helped.

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by afolwalex from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at 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 would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

Phew.
This post just saved me from the horror of running extra steemit algebra.

I think it's great that we're earning more steem power.
This also solves the issue of converting SBD to STEEM, whenever you need to use it.

Yeah, you are right. There won't be need to convert sbd to steem in future.

Steemit really did well this time around.

Thank you! This is the only post where I understood new payout system properly.

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