I NEED MORE STEEM POWER HAVE I BEEN ROBBED :-(

ph111p (50) in help • 8 years ago (edited)

So i just sent 1.2something or another BTC to get some steempower here and now my balance says i have $239 of steel power am i been stupid if i sold my 1.2something on bitfinex for instance then i would get $770 come on please help me its 3.30 am here in UK and I'm a noob so please please help this is my first post here and won't be the last.....OMG what is a vest this is getting confusing.

help me please

8 years ago by ph111p (50)

$0.03

17 votes

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drinkzya (57) · 8 years ago (edited)

I believe the current price estimate listed on the Steemit website is actually based on the weekly median. This is going up over time. Your Steem is still worth it's original value on the exchange.

$25.29

7 votes

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recursive (62) · 8 years ago (edited)

Your wallet shows you are currently holding 3.7 VESTS which are currently giving you equity of 777 STEEM (nice number!) in the network. At current price of 1.11 USD/STEEM this represents 862 USD worth of steem. Sounds about right for a 1.2 BTC purchase.

I guess the misunderstanding stems from the "Estimated Value" figure. This figure is not using the current price, but a moving average computed using the daily prices of the last 7 days. Since STEEM price has been appreciating very strongly over the last week, the increase isn't yet entirely priced in in the estimate. So what you are going to observe is that the estimated value will increase over the coming days. But it will always lag behind the market price.

My advice: don't look at this figure every day. Since it's lagging by about a week, the right time scale at which this figure becomes meaningful is that of a month. You'll get a rough idea of how your investment is doing by looking at it once in a while, like every month or so. Looking at that more often is pointless.

Edit: As mentionned by another poster, price isn't a moving average but a median. This doesn't change other considerations however.

$18.38

3 votes

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ph111p (50) · 8 years ago (edited)

Ohno what is a vest ?

$0.00

5 votes

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schro (58) · 8 years ago

Vest is Simple and CERTAIN to only go up in value over time.... Imagine getting in on the ground floor of this bad boy

also @ned long live vests
@donkeypong post here

$0.27

2 votes

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knircky (73) · 8 years ago

How can browse my and other accounts. I also need to look up a tx and haven't found a good browser.

$0.00

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recursive (62) · 8 years ago

Use steemd.com

$0.00

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ph111p (50) · 8 years ago

Thanks for that reply looks like dan rewarded you well anyway it helped me back then learning quickly now

$0.00

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nanzo-scoop (74) · 8 years ago (edited)

I wrote a post about this a couple of days ago (as I figured many would be confused by this):

https://steemit.com/steemit-help/@nanzo-scoop/estimated-value-in-your-wallet-is-just-an-estimate

There are also some other useful pointers there too. Good luck and happy Steeming!

$0.06

1 vote

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knircky (73) · 8 years ago

I used the buy mechanism from within steem, and when i saw the value estimated in the wallet to be 1/2 of what i paid for i thought I had been robbed as well. But once I did the math by multiplying the # of steem I had received I realized it was all ok.

$0.00