Delegated steem to new minnows fell from 30sp to 15sp... Why?
Did anyone else notice that the amount of delegated SP for new accounts has fallen?
When I created my account on 1/3/2018 the account @steem delegated me with 30 SP or 57,000.000000 vests.
https://steemd.com/tx/3fe248b2ca4350eacb23257bf8af5a493dcc1480
Later on 1/8/2018 the account @steem changed my delegated vests to 29,700.549089 VESTS
https://steemd.com/tx/b20002153e8bef702ed0973a226f0a3f33113a4a
By dropping my delegated vests the rewards for my votes have been cut in half.
Why has the vest pool for new accounts halved so their votes are worth .01 only if they are above 81% voting power?
Is this going to be a game of diminishing reward power as more accounts are created?
I edited my orginal post to add something I found after. Refer to comments for exact time.
This afternoon the @steem account which delegates our SP has 326,484 SP that is undelegated. If we continue to add users at the same pace we have been earlier this year the steem account has 21,766 new users it can delegate (~15 SP) to before it is bankrupt. Given that we have added over 50k accounts in the 2 weeks of January, that means the bank wont have enough to cover new accounts being made next week.
When @steem runs out of SP to delegate will it cut the delegation in half again or will the steemit experiment fail?
At this moment the @steem account which delegates our SP has 326,484 SP that is undelegated. If we continue to add users at the same pace we have been this year the steem account has 21,766 new users it can delegate steem to before it is bankrupt. Given that we have added over 50k accounts in the 2 weeks of January, that means the bank wont have enough to cover new accounts being made next week.
When @steem runs out of SP to delegate will it cut the delegation in half again or will the steemit experiment fail?
Thank you for addressing this very important issue. One of the content creators I am working with has been posting a lot of content and getting a healthy number of upvotes, but many of those upvotes are worth next to nothing and at best he's getting $0.01 per post, if anything at all. Meanwhile the better performing posts are the ones that randomly get upvoted by @eatsrewards and @rewardpoolrape. Steemit's monetization system is dysfunctional - definitely not allocating Steem to the posts of higher quality. Nefarious whales who bought their STEEM have drastically asymmetrical power over the crowd, and it's troubling that new users can't even get to square one by opening their account thanks to the review process and broken delegator you mention. The witnesses need to fix this nonsense fast - or Steemit risks breaking down into a cryptoscam full of spammy shitposts.
@royaleagle great eye and research man!
Thanks. I am new to this system and was trying to find out why my votes were not worth .01 at 81%. If more accounts are made would and we surpass what the steem wallet has availabe do you think the 15% will be halved again or just stall accounts creation of new accounts until there is enough funds to create more?
Have we already hit that spot in the creation que?
I have read it, and as I am fairly new also, I do not have the answers for you, regarding this, I only had 15sp to start with anyway not 30, so 30 would be a big deal to me. hopefully someone will come along and explain what has occurred.
Thanks for taking the time to stop by and read my post! I am trying to find out why because the drop to 15SP means your vote isnt worth anything if your vote power is less than 82%. Which effectively gives all minnows 1 less vote worth money everday.
Yes I noticed that, I have put my own doge coin in to here, to get above 16 sp, it was not a massive amount, it does seem to have helped with bandwidth problems I was having though.
I noticed that too. When I registered last two weeks they given me 30+ sp but it decreased now to 15.
Makes it really frustrating when your opinion is worth less this week than last! Good luck in obtaining more SP to enable you to vote more than 9 times a day.
I too was concerned at first when I lost my delegation... But then I realized that they give you the delegation as a way to help you to understand what the voting power can be. It is a "loan" that is designed to "teach", not a gift of money that you can keep.
So I resteemed your post because it is a common thought and it is also misunderstood. Plus it is well written and genuine. You're going to be really good @royaleagle... and I like how you aren't afraid to put your thoughts out there to be seen.
I also invite you to join us so far there is 3, but we just started @mudcat36 and @deliberator ... so it is a chance to get moving early in an initiative that I think will take off. If you are interested do 2 things:
1 go to @mudcat36 and tell him you're in and want to be a founding member...
2 make your own post (you can copy mine if you like or make it your own its up to you)... Here is my newbie invite post
https://steemit.com/newbieresteemday/@davemccoy/attention-newbies-send-a-link-to-me-and-i-ll-resteem-it-or-help-make-it-better-or-refer-a-link-if-you-re-not-a-newbie-but-want
I understand that the delegation from @steem is temporary in order for new users to participate. Before Jan 8, anyone that was delegated "starter SP" was allowed to borrow enough SP to bring their total to 30SP. At 100% vote power that equalled .02 after the Jan 8 change that amount was decreased to 15SP, which gives a max of .01 at 100%. At 30SP a users votes have value to around 50% at 15SP the new users vote only has value till around 81%.
I am interested in joining the initiative as well.
You have been resteemed as part of #newbieresteemday ... I made today my #newbieresteemday, and invite you and others to do the same. To learn more: Come Join Us!!! (Newbie Resteem Initiative)
This post has received a 8.77% upvote from @msp-bidbot thanks to: @royaleagle. Delegate SP to this public bot and get paid daily: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP Don't delegate so much that you have less than 50SP left on your account.
You got a 0.66% upvote from @allaz courtesy of @royaleagle!
@originalworks