UPDATE: Beneficiaries on a Post

in teamgood •  3 months ago
I recently wrote about how to set Beneficiaries on a Post. At that time I thought it was a splendid idea for assuring that charities (or Steemians in need) would receive the support they needed. HOWEVER... At that time, I had set @youarehope as the beneficiary on a particular post. When that post paid-out, though, I was surprised to learn that ALL of the rewards paid to the @youarehope charity was resolved 100% in Steem Power (SP) with NO liquid Steem that could be spent immediately.


For a charity that has immediate needs, that is not an acceptable pay-out. Unless powered-down, Steem Power will not buy potable water, food, clothing, and other necessities that those-in-need require. And, of course, powering-down requires a 13-week waiting period for payout to complete.

So, the best solution might simply be to send liquid (i.e., immediately spendable) Steem or SBD to the intended recipient instead of making them a 'beneficiary' on a post. Of course, this would require the author of the post to remember to do this, and perhaps make some calculations unless the amount is "rounded up."

I would love to hear thoughts from some of our current witnesses or the SteemPeak team ( @asgarth, @dmytrokorol, @jarvie, @r00sj3 ) on this matter. Maybe someone knows a way to change the way beneficiary rewards are paid, perhaps with a drop-down option on the form where beneficiaries are specified? Or would this require a Pull Request (PR), Soft Fork (SF), or Hard Fork (HF) instead? Or is it even worth broaching other options?

Comments, thoughts, and suggestions are welcome!

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Not sure how accurate this is but it https://www.steem.center/index.php?title=Reward_Beneficiary mentions that it came in with hardfork 18, maybe now that it is here they can add an update to make the option for liquid but I won't hold my breath on anything Steem and definitely just take this as "Hey always remember."

Or someone sets up an account that always has liquid on hand and they can serve as the exchange, check the original post when payout maybe we state these are the beneficiaries, match with payout received and the exchange makes the payout less maybe a little, for obvious reasons they can take even less for whitelisted charities.

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I'm not sure how to fix it, but for future reference it's at least something good to know and see if there's a solution for.

Looking forward to the next update you!!! :) hopefully they get back to you and explain how it will be fixed :)

thanks for always being so up to date on these things to share with us!

I just send it to YAH personally, for me that's how it is
HF is around the corner and such so stuff is wonkier then usual but probably in the meantime if it's kept to power down and be able to get it to liquid is good as don't see that aspect of the power down period changing cause we'd be making the equivalent of "bank runs" and collapsing the system but who knows. I don't see or know about SBD's in the future as they are a hot topic
but the fact things that translate to money are happening is muy bien, nice post :P

I agree it doesn't make sense that all of that is paid out in SP. In your case, for example, it should be possible to take the earnings out ' instantly'

Nice Catch! It would be nice if this was fixed to 50/50 as well!