[Steemit] Something on Steemit that Confuses New Users by ironshield

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steemit · @ironshield · Jan 24 '18

$11.20

[Steemit] Something on Steemit that Confuses New Users

<h1>The $ payout at the bottom of posts and comments is not accurate. </h1>

![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516767509/honvhvputq50la0mdn6t.png)


I understand why the developers at Steemit want the post value reflected in USD.  Seeing that $$$ get's people excited.  It communicates that these posts have value.  If you live in the US, these posts and comments are worth THIS MUCH in the same dollars you use to buy groceries and pay your bills.

*I understand why it's described this way.*

<h1>But the goal of Steemit is to earn STEEM and SBD.</h1>

One thing that is lacking on Steemit is a quick and easy estimation of how much SBD and STEEM POWER (Vests) each post will earn at the end of the seven days.  I know this can change, based on many factors, so when the payout happens it may be different than when the post or comment was first upvoted.  We've seen payouts increase and decrease over the seven days without any new upvotes or downvotes.

<h1>Trusty Excel</h1>

Sometimes I like numbers.  Sometimes I like to play with numbers and make calculations.  If I want to find out how much a $0.01 upvote really contributes to the payout of a post, we have to a little math.  This is calculating with STEEM at $4.27 and SBD at $6.75.  (Both of these numbers are always changing)

*So you contribute an upvote worth $0.01*

![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516765776/blr65zdpn7io5slrdjbe.png)

With current values, you are actually contributing almost $0.03 to the author in value.  How cool is that!

<h1>Minnowbooster</h1>

*Say you purchase an upvote for $17 SBD ($114.75 USD) and recieve an upvote "worth" $44.63.  What's is really worth?*

![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516766473/unxtg3ae63tmqadtkcmb.png)

![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516766524/iaota5beqw9dnh9itgfc.png)

![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516766801/mucdak6lf2xkvpneywxc.png)

Minnowbooster does a wonderful thing, in that they refund the balance in SBD, so you always receive back the same SBD you put in, while getting to KEEP the STEEM POWER.  This gentleman was refunded $0.120 SBD.

So the end result?  Pay $16.88 SBD ($113.94) and receive back an upvote worth $129.627.  That's 12% more!  About 4 SP bonus!

<h1>Learn more at Steem.Supply</h1>

The best way to learn about the REAL value of posts and comments is to learn from http://steem.supply/  

Visit the Rewards Calculator to better understand how the payments work.
![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516767634/oswr3rmnj7lkean0wtnb.png)

Here's an excerpt from the page:

>The main confusion point is the "$" displayed by default near the rewards by Steemit (and busy, and eSteem). This "$" is not a USD. It has nothing to do with it. It's also not a SBD. So, what is it? It's what I'l call from now on a "Steem Token Unit", or STU. This is different from SBD and STEEM as currencies, and it's actually the expression of the underlying value storage in the STEEM blockchain, which goes under the name vests.

I hope that this has been helpful in understanding what that $$ number means under our posts and comments.  Gain some understanding of the real value of your upvotes.

Steem on!

@ironshield

👍 silvergoldbotty, qurator, ethandsmith, worldclassplayer, busy.org, cecicastor, eonwarped, lturner, minnowsupport, gratefuleveryday, thesteemengine, tattoodjay, nairadaddy, mericanhomestead, ironshield, feedyourminnows, zacharius, apanamamama, steemusa, dwells, himshweta, steembasicincome, lasseehlers, albertvhons, bickler33, hansjurgen, jacoblayan, steemgigs, theheralds, beatitudes8, simms50, eastcoaststeem, truthceeker333, angeloextreme, generalpatton, thexumaker, dorabot, jacoblesterread, ivoteonheros, donfelix, thepreacher, sending-arrows, daneamanda, lassemusic, steemride, steemhome

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properties (23)vote details (46)

voter	rshares	pct
lasseehlers	2,823,330,323	100%
busy.org	45,825,523,376	0.51%
ethandsmith	123,533,242,384	34%
worldclassplayer	53,922,431,711	10%
truthceeker333	608,889,341	100%
angeloextreme	599,936,017	100%
steemgigs	1,352,431,354	20%
mericanhomestead	11,046,702,135	10%
albertvhons	2,496,833,636	9%
zacharius	5,838,136,827	100%
simms50	996,278,466	30%
ironshield	10,286,909,196	100%
jacoblesterread	448,794,258	100%
cecicastor	30,114,982,952	30%
minnowsupport	19,155,438,343	1%
dwells	4,442,372,997	100%
beatitudes8	1,130,491,100	10%
bickler33	1,801,618,933	100%
tattoodjay	11,716,260,448	10%
himshweta	4,026,935,001	33%
ivoteonheros	428,481,502	100%
dorabot	455,966,248	1%
lturner	19,753,184,101	100%
silvergoldbotty	430,652,300,777	13%
hansjurgen	1,712,703,728	25%
feedyourminnows	8,145,825,969	6%
theheralds	1,243,494,662	30%
apanamamama	5,799,091,285	50%
qurator	184,510,833,605	5.09%
jacoblayan	1,451,493,408	20%
thepreacher	361,801,006	30%
eonwarped	21,932,064,582	51%
nairadaddy	11,605,716,163	50%
eastcoaststeem	833,867,114	100%
donfelix	426,889,634	100%
steemusa	5,491,438,952	10%
steembasicincome	3,898,756,473	2%
daneamanda	218,112,902	100%
lassemusic	217,983,922	100%
steemride	217,845,252	100%
steemhome	217,845,196	100%
gratefuleveryday	18,246,892,844	100%
thesteemengine	12,118,296,087	10%
generalpatton	577,604,708	100%
sending-arrows	261,149,189	100%
thexumaker	553,021,593	100%

@beatitudes8 · Jan 29 '18 (edited)

Is minnowbooster the only “vote bot” you are a part of. Could you recommend others?

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@ironshield · Jan 28 '18

I've used minnowbooster occasionally, but not often since it's sort of a like a 'bribe'.  It is interesting to calculate exactly what you 'get out' compared to what you 'put in'.  That's why I included it in this post.  @ironshield

properties (22)

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@blaogao · Jan 25 '18

My knowing is the sbd and usd are same rate but im wrong

properties (22)

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@bohkuda · Jan 24 '18

$0.02

Ououh so good

👍 buitumbon, bohkuda, muhammadmuzaiyan, miftahulhamzij, said78, fadhilashshiddiq, ironshield, theghil-gayo

properties (23)vote details (8)

voter	rshares	pct
ironshield	113,364,916	1%
muhammadmuzaiyan	402,604,816	100%
miftahulhamzij	365,294,206	100%
fadhilashshiddiq	145,051,400	100%
buitumbon	605,560,971	100%
bohkuda	494,651,805	100%
said78	337,954,606	100%
theghil-gayo	0	100%

@donfelix · Jan 24 '18

Thanks for the explanation, I have always wanted to know the value of my upvote.

👍 ironshield

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
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@eonwarped · Jan 28 '18

Keep in mind, steem supply's numbers assume 25% curation fee, which is not true if you time the vote earlier.

👍 ironshield

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@ironshield · Jan 28 '18 (edited)

Yes thank you for mentioning that.  I thought about writing about that in the post, but it gets a bit more complicated when factoring vote times in the first 30 minutes.  There's some talk that this may change in the near future.  I kept it simple by assuming 25/75 curator to author's ratio.  If anything, the author's rewards may be a little higher.  @ironshield

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@ethandsmith · Jan 24 '18

I agree that the way payouts are listed can be quite confusing. It's certainly better to look at them in terms of STEEM and SBD, but until the developers decide to change this, we'll just have to use the tools that you pointed out in this post. 

Thanks for sharing. This will be helpful to many people.

👍 ironshield

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properties (23)vote details (1)

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@minnowsupport · Jan 24 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by ironshield from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

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@nairadaddy · Jan 24 '18

Hey @ironshield,
yeah that's true. I like your theory of the *Steem Token Unit*. And all the calculations you did to arrive at the conclusion that vote bots give you Steem power and some *minor* profits. 

### Here's a chart that will better explain the reward distribution;
![180118_Post-Payouts-02.png](https://steemitimages.com/DQmXjwY4x79QobdaL9PyFHh2gP4nScL6nnyakjJfuTUFJ9n/180118_Post-Payouts-02.png)
*Zoom to use*

Btw: How's our boy doing? And the Mum? Keep steeming Sir!!

#AIR-CLINIC

👍 ironshield

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@ironshield · Jan 28 '18

![](https://steemitimages.com/DQmVFVfS1Yb9ZvS3ye7Zud6M6byExABRXxFC5B5qW7NgKL4/image.png)
Daniel says "hello".  Mom is doing great!  @ironshield

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@sending-arrows · Jan 28 '18

This was so very helpful! Thank you for sharing to this newbie.

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@silvergoldbotty · Jan 25 '18

You have received an upvote from STAX. Thanks for being a member of the #steemsilvergold community and opting in (if you wish to be removed please follow the link). Please continue to support each other in this great community. To learn more about the #steemsilvergold community and STAX, [check this out.](https://steemit.com/steemsilvergold/@silvergoldbotty/introducing-stax-the-steemsilvergold-community-bot)

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@tattoodjay · Jan 24 '18

I like to think I am good at math but this has been confusing me a little your posts are making it clearer for me thanks for that

👍 ironshield

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@zacharius · Jan 24 '18

I’ve always wondered about this. Lol
I’ve never been upset though, I can tell you that much.🍾

👍 ironshield

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