What is a Steemit Upvote? - An Illustrated Guide

in toolkit •  2 years ago

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What is an “Upvote”?


An upvote on Steemit.com is very different than a vote on any other social-media website. Clicking that little arrow is much more than a “Like” on Facebook or a “Heart” on Instagram. On Steemit, votes are rewarded with STEEM!

In today’s Toolkit post, we’ll explain what an “upvote” actually is, where the rewards come from and and how they are distributed on the Steemit website.

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Where does the STEEM come from?


When you upvote someone’s post - that value is not being withdrawn from your personal account. (This is a common misunderstanding.) You’re not giving anyone anything from your personal savings or STEEM Power. Instead, you’re vote is actually tapping into a brand new pool of STEEM. There’s a fresh batch of STEEM produced everyday, and it’s called the daily rewards pool.

New STEEM tokens are being created all the time. The rewards pool is an amount of STEEM generated every day from inflation. Right now, several tens of thousands of STEEM tokens are being created every day (Approximagely 63,000/day. The percentage of yearly inflation shrinks incrementally as time goes on). This daily STEEM represents the pool from which your vote takes a certain amount and distributes it to where you’ve directed.

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What happens when you vote?


When you click the upvote button you are telling the STEEM Blockchain, “this is where I want X amount of the daily rewards pool to go.” The amount that you’re able to direct is dependent on the amount of STEEM Power you have. So the more SP you have, the more of the daily rewards pool you can direct to posts you like! (Your vote is not affected by liquid STEEM or SBD, learn more about the differences here.)

You can verify how much voting power your account has at any time by plugging it in at this website - www.steemnow.com

Curation Rewards


An upvote on Steemit is also a tool for you to earn curation rewards. Simply put, when a post or comment is paid out a portion of the rewards is redistributed back to the people that helped generate that amount. If you upvote a post, you’re effectively helping it gain visibility and support and you’re rewarded for that curation.

The amount you get back from a post you upvoted depends on a number of factors - how much the post made during payout, at what point in time you upvoted that post, the number of votes before you upvoted, voting power, and so on and so forth. Without going into too much detail, the following can be used as the basic rule of thumb-

The earlier that you vote on a potentially successful and highly rewarded post, the more you will make in curation rewards. You can read more about the exact calculations of how curation rewards work here.

Exploring More @sndbox Steemit Toolkits


Thanks for reading! We hope you found this "Upvote Guide" useful. If you have any questions please don’t hesitate to reach out in the comment section. Check out our other toolkit posts for helpful tips and ideas :

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Authors get paid when people like you upvote their post.
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Thanks for the explanation

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This post received a 1.5% upvote from @randowhale thanks to @cxc! For more information, click here!

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You're very welcome!

May I translate your post to Russian? I need to share is with RU community

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Absolutely! As long as we're linked and accredited. Be sure to send us a link so we can upvote it! Thanks @allfabeta

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Fantastic, thank you! Wonderful work spreading the word into the RU community!

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for sure I'll do

Thank you for another informative article! Explaining how Steemit actually works behind the scenes, to be able to reward authors and curators all while built on top of a blockchain and backed by a cryptocurrency. For newer users, myself included, understanding how this platform actually works helps us understand to properly utilize it to its utmost potential. Upvoted and resteemed to spread the understanding conveyed to more users! Thanks again!

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Thank you for the feedback!

Excellent job here man, keep it up ;)

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You bet! Thanks for the support :)

awesome work, very clear, short and sweet explanation​, really liked it, upvoted and followed, cheers .

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I agree the post was simple enough that i could understand it.

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Many thanks for the kind and supportive feedback @applesspatrick!

thanks for sharing , it will help many users

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Glad you found it useful! Thanks @hrsagar

A very useful post Sir @sndbox, before I ever thought as you said above, that the steem we give to other people via upvote will reduce the steem we are misunderstanding it missed, but now Sir, it is very helpful to me. Thank you for share this post Sir.

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Thanks for your support @herzaseptian! Yes, an important note - upvoting doesn't take any STEEM away you from. Upvoting is totally free!

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Wow, that was one of the best explanations of the topic. @sndbox, You nailed it. Accept the gift of a new follower. Resteemed!

A couple of weeks ago, I watched a YouTube video on the same topic by some other Steemian. I think sharing it here will help a lot. So, here it is:

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Awesome this is such a cool instructional video! Thanks for sharing :)

That animation is awesome! Very good for noobies to understand where does the money come from.

Thanks for the great explanation!

Thx for this helpful guide

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Thank you for reading!

These are some cool animations:) tip!

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@OriginalWorks Mention Bot activated by @karlstanley. The @OriginalWorks bot has determined this post by @sndbox to be original material and upvoted it!

OW2.gif

To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!

For more information, Click Here!

Thank you fot articel

Glad that someone is explaining this ! Well written and great graphics too

same other channal
from https://steemit.com/@cheetah
https://busy.org/@cheetah
Okay, I have banned your channal in 5 dyas

Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!
To get off this list, please chat with us in the #steemitabuse-appeals channel in steemit.chat.

Thank you @sndbox for the detailed explanation, that gif makes it easy for everyone to understand how this works. I need to show this to some of my friends.

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Thanks! Glad you liked it :)

Sencillo de entender, creo que visitare tus publicaciones más seguido. Saludos desde Bogotá.

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Thanks for sharing , as new user likes me this is really helpfull. Upvote and Resteemed

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Glad to be of service!

great work by you ....like it!!

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Nice post! Now I understand how upvoting works. :)

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That's great to hear @topic4lunch!

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Thank you!

This is the best explanation is have seen on steemit thank u sir

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You bet, thanks for the kind words!

Very informative post. Now after 3 days I understood the proper concept and methodology of upvoting.
Thanks for detailed guidance @sndbox sir.

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Glad to be of help!

It has been very useful

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Great!

Very well explained, sadly for a new person upvoting does not help at all and no rewards can be made, the whales get bigger and the newbies suffer! There must be some equilibrium to solve this.

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It is very difficult in the beginning but with a some grit and hard work, any account become more successful and impactful. Steem on!

nice post and explaining curation rewards!!!

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We appreciate the enthusiasm!

Really great illustration of the distribution process. I like the animation. Thumbs up. Curious which other topics you cover in your next posts.

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We've still got a lot of ground to cover, stay tuned!

thanks for the explanation! greetings from Brasil!

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Absolutely! Greetings from New York!

i like the way you just explained in very short length and it is also meaningful for us .. i really appreciate you work..
great post keep it up,upvoted and followed :) :)
thanks

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Thank you for the support!

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it will be better for all of us when we appreciate their spirituality ..
no need of thanks my bro ...! :)

A very useful and helpful post @sndbox, before I ever thought as you said above, that the steem we give to other people via upvote will reduce the steem we are misunderstanding it missed, but now , it is very helpful to me. Thank you for share this post .
please follow and support me as well.

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Glad to be of help!

Thanks so much
Such an ovewhelmingly large learning curve
Simple explanation
Just focussing on one bit at a time
Up voting first
Checking out as much guidance as possible.
Cheers yours was helpful...some abit....arggghhhh

Very simple and functional . Ive read some about pre and post fork functions but i tend to get them mixed up .

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It is a tricky topic, we hope this helps.

Hi all steemit friends, please follow me and like my post, i like all of you.

Thank you for the clarification of the upvote. There are many here who believe it costs them to upvote. It seams all complex but this post helps.

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Glad this helps! It's a common misconception, but understandable! Cheers @enjoywithtroy

I think you should take the entire whitepaper, and explain it in a simple-to-understand fashion, because you are clearly very good at explaining things.

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Super interesting! That might be a really valuable exercise. We definitely would like to cover the basics so that new Steemians have an easier time navigating the platform. Thanks so much for the support and kind words @harshallele :)

@sndbox Well I just hit that "little arrow" because this was a really USEFUL post to people starting out on this platform. It is really important (in my opinion anyway) that everyone understand how the cogs turn and your manner of explanation was really clear, easy to understand and "user friendly" all round! Hats off to you!

Love it!

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Thanks for the support @jaynie!

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only a pleasure xxx

Clear and easy to understand. Now I know where I got some sp and sbd

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Right on ;)

Awesome thanks I did not know that, now who needs an upvote?....come here lol.

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Haha that's the spirit!

great post

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Thank you!

Upvoted, resteemed. Informaive post, thank you!

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Thanks!

Straight to the point, good work. I wish there was a post like this when i very started on steemit :D

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Thank you!

For someone new with steemit this was incredibly helpful. Brief but clear. The image was fantastic.

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Thanks!

Thanks for this, I like the crunch line especially!

'The earlier that you vote on a potentially successful and highly rewarded post, the more you will make in curation rewards.'

Just thought I'd re-quote it as it seems to be the most essential piece of information...

I also followed you, as a newbie here I like simple posts, and as a teacher I have professional appreciation of good educational material, which this is!

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Thanks so much!

simple and good illustration @sndbox nice :)

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Thanks for your continued support @thegoldenphoenix :D

BTW, you didn't mention 30 minutes rule.

If newbie or minnow would vote according to your rule: " The earlier that you vote on a potentially successful and highly rewarded post, the more you will make in curation rewards", so if somebody would vote in the first minute then he would get nothing because he would get 100% penalty and all his potential reward will be moved to a post author

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Thanks @allfabeta for the clarification! It is an important aspect of the voting system -

Of the 25% that goes to the curator, that portion will be split between the author and the curator if the curator votes within the first 30 minutes. The split of the 25% between the author and curator during the first 30 minutes is calculated linearly based on the time the vote is cast.

If a post is upvoted the moment of posting, 100% of the curation reward goes to the author.
At 3 minutes, 90% goes to the author and 10% to the curator.
At 15 minutes it's a 50/50 split.
At 27 minutes, 10% goes to the author and 90% to the curator.
If a post is upvoted 30 min after posting, 100% of the curation reward goes to the curator.

For the purposes of this post we thought it might be burdensome and overly complicated for new users but it's definitely something to learn more about once you've familiarized yourself with the platform.

Also, thanks for the translation! It's awesome. =)

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You're welcome.

Actually, I cannot consider myself as a newbie but before your post I didn't have a clear picture from where reward pool comes and how upvotes work.

So it was very useful for me and I'm sure it was useful for others.

thank you for your post!

Thank you very much for the post! Following.

You explained something that seems difficult to understand and made it easier. I really hope Steemians know about how important a vote is, and most importantly what you upvote. One single Upvote can change the life of a Steemian Forever!

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It really can! That's a post in and of itself, the power and impact of a vote... thanks for sharing your thoughts on this @jonsnow1983!

Clear and enlightening, thank you!

But I have a concern about the reward pool and long-term sustainability. I gather the pool fluctuates with inflation and possibly with the currency market? You write "the percentage of yearly inflation shrinks incrementally as time goes on." So as Steemit users increase in number over time, won't that make the value of the pool shrink and difficult to sustain?

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Interesting question @kenfinkel! Inflation of the daily "rewards pool" increases the number of STEEM tokens held on the blockchain... but it does not directly alter the value of STEEM. (An important distinction.)

From the Steemit FAQ page...

Steem began creates new tokens at a yearly inflation rate of 9.5%. The inflation rate decreases at a rate of 0.5% per year. The inflation will continue decreasing at this pace until the overall inflation rate reaches 0.95%.

So as the ecosystem of Steemit users increase over time, yes, STEEM tokens will be harder to come by. BUT the value of each of those tokens is another story. Ideally, the value rises as the demand rises. There are many other factors that give value to the STEEM ecosystem. If your next question is where does the value come from? This might help...

Steem is a game system where users compete for attention and rewards by bringing content and adding value to the platform. The rewards people earn are tokens that have market value and are readily tradable. It is similar to how someone playing a video game could obtain a limited item or currency by playing the game. If the currency or items are transferable between users, then they can sell or buy them on game item markets.

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Very useful.

So very useful..i know steemit by my friend @albuluhi, he told me that only about having account, upvote and comment but we don't know much about it because we are beginners and never withdrawl even one time. We know steemit from friends but we have no special sharing community here. Therefore, searching out in related articles is the best way for us. How poor we are. However, we believe that what people achive on steemit could be achived also by us event though we are beginners. Now, @lbuluhi gets it much better than i am n i Will get it soon.

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Welcome to you and your friends! Explore Steemit and keep searching for helpful resources. If there's a topic that you would like us to write about / explain, please let us know! :)

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Thanks for your cooperation

Woow, awesome post very understanding. very good clear explanation. upvoted and Resteemed.

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Thanks!

Great info. Thanks for sharing. Following, voted and resteemed.

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Thanks for the support!

nice gif :)

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I did not know these things: "The earlier that you vote on a potentially successful and highly rewarded post, the more you will make in curation rewards." and "When you upvote someone’s post - that value is not being withdrawn from your personal account." Thanks for explanations, it's the first post I'm reading about this.

How many posts can I upvote in one day?

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Great question... There is no limit to how many posts you can upvote in a day! But you can only upvote ~15 posts per day at full 100% power. (Steemians that have above 500 Steem Power in their wallet will see a scroll bar that allows them to measure exactly how strong they would like their vote to be.)

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Thanks for the explanation @sndbox. One more question, please: besides Steemit Chat and Discord, how can we promote our posts?

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Right now I believe those two are the best options! Find a chatroom channel in either one and begin a conversation :)

Thank you so much for such an exalant explanation to us who do not know how it works, but now we do. Thank you for your post.

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Thanks @bigbear for the support!

I am just starting out on Steemit so this post really helped, thanks!

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We're glad we can help!

Thank you sndbox, very simple poat to follow and it explains everything I didn't know already. I only just found out from another user how the Wallet actually works. I have been well rewarded by putting up hopefully interesting posts and by praising those who most deserve it, meaning those wSteemians who put up good and interesting posts themselves. Lots to learn and like on Steemit and if you're in it for the long term you can make a difference. Thank you again JV

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Thanks JV! We're called we can help.

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Dear sndbox I am already thrilled today as my steempower just zoomed skyhigh! I am learning and happy with it. Thank you JV

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OK My wallet looks entirely different today. Whoopee! Still in it for the long run. So how do I move stuff to savings? Or move anything about come to that? If you have advice on that I would be grateful. Onwards and upwards. JV

very useful information given by your side. I really appreciated your work. YOu deserved for a wonderful voting. keep it up.

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Thanks a lot for the support!

Your animation is great! Well done explaining too!

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Thank you!

Well written. I was trying to explain this to someone the other day but failed miserably. This post will help in a big way. 👍🏻👍🏻👍🏻

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Thank you for the support!

Hey thanks for clearing that up for me it helps!

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Glad to be of help =)

I feel more informed having read this post.

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We were hoping to have that effect =D

This post was very informative thank you for sharing
you have my upvote
Keep smiling, reading, writing and voting!!!
@mannyfig1956

Congratulations @sndbox!
Your post was mentioned in the hit parade in the following category:

  • Comments - Ranked 10 with 121 comments
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Thanks as always @arcange!

Brilliant post,really educative on steem and upvoting :) Resteemed and upvoted

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Thank you for your support @practicaleric!

I'm very glad you wrote the article. Now I will think better before I vote for an article.

Very good post, thanks a lot for explaining this , I upvoted you, resteemed, and I will follow, so every person who upvote can earn some steem dollars also and that is nice.

I hope in the future the upvote will worth more to more people, even if someone is not earning a lot will earn, I am planing to help my followers to improve on steemit and I am sure that after one year I will earn very good money from posting !

Good luck, keep posting good quality posts like this one. ☺

Thank you for setting this out in a very simple way. Even I could understand :)

hola desde españa una informacion muy interesante.

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Muchas gracias!

Excellent article, thanks!

Thanks for a simple explanation. It helped me to understand the platform. I have one more question though. Please clear my doubt about purchase.

Where does the Steem come from if someone purchases the Steem using BTC? There is a definite amount of Steem generated everyday, you said. And this amount depends upon inflation. But inflation is nothing but the loss of purchasing power of a currency with time, but if Steem price keeps rising then there would be no inflation.
For example it Steem reaches at $4, its purchase power is almost tripled from now, then it is not inflation right? Then won't these new tokens be generated? If someone wants to buy Steem from where would he/she buy? I guess the exchanges must be keeping the reserves of Steem.. hmm?

I really enjoyed this post it was explained in a very clear and easily understood manner. I appreciate good information being new as of first post this morning new, any information I can find and cram into this head of mine is beyond appreciated.

How does the STEEM blockchain verify integrity? Other blockchains (e.g. Bitcoin and Ethereum) use computer heavy mining to ensure no fraud has been committed.

Well explanatory
Nice post

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Thank you!

Well said. There are many posts each day that deserve and UPVOTE. However I try to limit the number to about 10 a day.

Finally I understand

Thank you! I really did not quite understand how upvote worked. thanks to you achieve

give me please sbd plan

Re-steemed so I can find it again.

Thanks for this list of tools along with this vital information for steemit @sndbox. Im looking forward to applying what ive learned and hoping to see greater results in the near future.

#circleoffriends

NiCe post. I think it will be great if I translate it to Indonesia 😉

Real nice animation!

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We had some fun making it! Glad you found it clear and helpful :)

I enjoy post you @sndbox

oh so this is how it all works damm really nicely explained !!

Very Helpful!!

Excellent information thank you!!!

Beautifully simplified - thanks @sndbox! I have difficulty in getting the penny to drop on a very simple but somewhat subtle fact as well - on how we can use the work = energy principle to create a very special kind of coin. Kind regards

Hi there, I just published the German translation here! Hope you like it.

You can find Russian version of this post HERE

Hi thanks so much. I wasn't clear about upvotes. Helps a lot.

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Glad it helped! Thanks @amrita :)

thanks for the article !!!

thanks for elucidating upon this,i am newly born baby in steemit so feed-back !!!regularly is needed i guess!
lols!
thanks images.png