Condenser] Show Payouts In SBD and STEEM as well as other changes
[Condenser] Show Payouts In SBD and STEEM as well as other changes
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STEEM? SBD? What's that?
Hopefully by now you have at least a fair understanding of what STEEM and SBD are. If you do not, however, there is no need to worry. When a post is made on SteemIt, there is a displayed payout amount represented in dollars ($USD).
Example From SteemIt.com
Screen Shot 2018-01-21 at 10.11.27 PM.png
Example From SteemLiberator
Screen Shot 2018-01-21 at 10.11.19 PM.png
If you take a look at the screenshots above, you will see that SBD pays out 50/50 unless the author chooses otherwise. Due to this, a $100 post actually pays out 50 SBD and $50/STEEM-Price STEEM. If we say STEEM is worth $5, then this post would receive 50 SBD and 10 STEEM.
Now, SBD should be around $1 in value. However, it has been hit by several ways of trading pumps and is valued at ~$7.25 at time of writing.
Using our example above with the $100 post, the value of the SBD would be $362.50 and the value of the STEEM would be $50. The total post value would be $452.50.
You read that right ... a $100 post with STEEM at $5 and SBD at $7.25 is actually worth $452.50
Due to these reasons ...
... I believe removing the $ value from the post is wise.
Perhaps putting the post values behind a drop down, while showing more financial information, will help encourage users to look at the posts for their content instead of just how much they are valued at!
Technical Details
Something you may not know about Steem is that when a post is paid out, the conversion factor is determined from the average Steem price throughout the payout period of the post (currently 7 days). What this means for developers is that we need to maintain a living history of the Steem rates to properly show value of posts made at a given time.
To solve this, I opted to use a local MongoDB microservice that keeps a historical record of all filled conversion requests. These operations are used to get a close estimate of what the STEEM rate would have been when the post received payout.
Feel free to visit https://condenser.steemliberator.com to see it in action
Links
Proof of Work Commit #0c00e95
SteemLiberator Condenser
Posted on Utopian.io - Rewarding Open Source Contributors