Witness Update Report #20
Hello all you awesome Steemians, the low markets continue to be a bit of a bummer to all of us, and I'm sure we are all hoping for some green, rather sooner than later. On a more positive note, our new servers are running great and we successfully updated our witness server from from 19.5 to 19.6 about this time last week. We have not missed any blocks as of the last report and our price feed is stable, everything is pretty good. Apart from the low market price of Steem and SBD.
We have finally received exciting news regarding Hard Fork 20, after months and months of waiting, Steemit has set the date, which will be on Tuesday, September 25, at 11:00am EST. The changes will simplify quiet a few things which the witnesses have proposed over the last year and will introduce some amazing new features as well as remove unnecessary rules that have have been stifling growth. You can go read the entire post here, however it is pretty long and rather technical, but still be good to give it a read to know what's going on. Knowledge is power.
We basically summarised the entire HF20 post into a more easy to understand version, but then found a really great post by @therealwolf who had already done an amazing job of it, HF20 in plain English, and we believe in giving credit where it is due, so please go check his post.
ADSactly Education :
We have decided that as part of our weekly Witness Report post, we will be choosing different technical topics to discuss.
Please feel free to request a topic in the comment section.
ADSactly Steemit Help - VP explained
So as a steemit member there are some things that you need to start paying attention to. If you are somehow not already aware, your vote here on the steemit platform has value. As your account grows, so grows the value of your vote. As they say, “With great power comes great responsibility”. In all seriousness though, it is very important that you are paying attention and managing the value of your vote here on the platform. When people are first starting out here on steemit, they often have questions about how things work. One of the most asked questions is in regards to Steem Power (SP) and Voting Power (VP).
Last week we discussed all you need to know about SP. This week we will turn our focus on voting power (VP). Each time you vote on a post of a comment you are essentially applying your influence or power to that post. The value of this power will depend on the amount of SP you have in your account. As discussed last week, the more SP you have the more value you vote will have.
Voting power is broken down in two ways:
First, the percentage of power you want to vote on any particular post. When you first start with steemit you have very little power and also very little flexibility about how to use that power. When you vote on a post you are automatically giving 100% value with that vote. That means that if your vote is worth $0.05 then your vote is worth $0.05. Your vote will always register at 100% until you reach a Steem Power of 500. Once you achieve this mark you will be given the ability to adjust your vote. You will be given access to the vote slider. The vote slider allows you to change you vote to any percentage you would like. Now you can choose the amount of your VP you want to put on each of your votes. For example, if you have a vote that is worth $0.10 and use 50% VP then the vote is worth $0.05.
The other side to VP is the amount of power you have to vote with each day. Each time you vote your overall voting power decreases. A 100% vote drops your voting power by about 2%. Therefore, if you make 10 votes at 100% your voting power would drop to 80%. This voting power recharges over time and at a rate of about 20% a day. As this voting power decreases, the value of your vote decreases as well. This means that even though your vote is worth $0.10, it might only be worth $0.08 if your daily VP is reduced to 80%.
This can be a little bit complicated and is something that you need to manage. You want to make sure that you are voting as much as you can but at the same time, you need to make sure that your daily VP doesn’t get too low and therefore making your vote less valuable. With a little bit of time you will find a system of voting that works best for you. It all starts with awareness and understanding.
Remember to join our Friday Night Live with Adsactly tonight! Our very own @princessmewmew and @broncofan99 are hosting a discussion panel where they will chat about all things Steemit related, focusing especially on minnow issues, curation and community centred projects. We invite you to come on over and introduce yourself and share a post with us, and chat about it, and also to ask any questions you may have! Join us here every Friday night at 20:00 UTC.
We welcome you to join the society, meet and talk to people, make friends and establish relations with other ADSactly members. You will receive ADSactly community units just for showing up and taking part in our voice hangouts, for helping out with promotions, for helping new members feel welcomed, showing them around and helping them get familiar with the society, for finding new projects that might catch interest of other members. Sometimes even for being generally a good person willing to help others.
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