Post Payouts Since HF19 (Update)

eroche (67) in stats • 7 years ago

Has the reward pool stabilised and how have payouts on posts been progressing since Hardfork 19?

I have extracted data since the 1st of June to look at the effects of HF 19 on the daily payouts. The data for these graphs is from steemdata.com by @furion

Total Payouts (Posts and Comments)

The Horizontal Lines are a range between which we would expect daily payouts to be, assuming a fairly stable voting pattern. Payouts will deviate outside this range depending on the daily R Shares. Clearly there was a huge increase in the votes, voting power and R Shares following the June 20th Hardfork.

The above graph can be broken down into two components; Posts and Comments on Posts.

Posts (Ex Comments)

Comments

Daily Steem Creation

According to steemd.com the current supply of Steem is around 250m, and at a 9.5% inflation rate this implies around 62k new Steem a day is produced. 75% of this goes to post rewards (Comments, Authors and Curators), i.e. around 46k Steem a day is the daily fund for post rewards.

Payouts

Since the beginning of June the price of Steem has ranged from 0.80 cents all the way up to 2.80. These prices and the 46k daily Steem for the reward fund would suggest that the daily payouts should be somewhere in the range of $37k to $128k.

The two key drivers of how much is paid out each day are The Steem Price and the Daily RShares. HF 19 happened on the 20th of June. This led to an increase in the final daily payouts for up to a week before the HF. Since then we have been in a period of rebalancing but also the Steem Price has dropped, both contributing to the drop in daily rewards that we have seen in recent weeks but it looks like we are now getting to a more stable and sustainable point in terms of daily payouts.

I have noticed in the last few days that pending payouts are not dropping as much as they have been in the last couple of weeks. This suggests that the reward pool is stabilising

Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.

stats steemit writing hf19 steem

7 years ago by eroche (67)

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jwolf (70) · 7 years ago (edited)

yes, true, even more, some of my post rewards are growing now!

mikenevitt (62) · 7 years ago

For what ever reason i personally think people are a lot more carefull to whom they upvote , enjoyed the article thanks mike

eroche (67) · 7 years ago

Well I guess you have less votes, and if you see that your vote is actually giving money to someone you will think twice before voting.

mikenevitt (62) · 7 years ago

Maybe , I do always try to upvote people who take the time to reply. Thank you mike

flauwy (73) · 7 years ago

These statistics are great. Are you planning to continue these?

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eroche (67) · 7 years ago

I am working on an update. I will definitely continue these, I will try to update this once a month or when there are major changes.

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flauwy (73) · 7 years ago

Nice, it is really interesting information. Although there are too many dots on the graphic which makes it difficult to read.

drled (37) · 7 years ago

I think payout and reward pool would even be more better if the stingy miser guys who endlessly upvote their own comments stop that bad habit! It's greediness!

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cryptotem (63) · 7 years ago

Thanks for this update @eroche, and good news that the reward pool seems to be stabilizing :-)

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hardikv (65) · 7 years ago

This is good news and reassuring! Thanks for the update 🌟

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prakashghai (63) · 7 years ago

yes, its getting better now but so much volatility.

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clayford08 (58) · 7 years ago

I always appreciate what you do, @eroche. Keep up the great work!

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dan-atstarlite (66) · 7 years ago

Great post! Question for you... Here's the thing I can't figure out... if 46k STEEM is added to the rewards pool each day than I would assume that if a draw day was less than 46k than the rewards pool would be higher than the previous day... but it appears that the total rewards pool is declining in number of STEEM even on days when the total draw is less that 46k... Any idea why that might be?

The "draw" info I'm referencing is from https://steemit.com/steemit/@me-tarzan/rewards-pool-i-have-charted-the-waters-for-you-july-19-2017

According to this info, daily payouts of STEEM right now are way less than the amount of new STEEM entering the rewards pool each day... yet the pool is still shrinking. What am i missing?

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demotruk (69) · 7 years ago

"Drain" in that post is the amount created minus the days payout. It has been negative since HF19 since the payouts have always been higher than the amount created, even today. "Drain" should turn positive very soon now.

I prefer "surplus" and "deficit" as terms.

dan-atstarlite (66) · 7 years ago

Thanks... that makes sense now.

eroche (67) · 7 years ago

I was trying to model this in a spreadsheet yesterday and it's quite tricky, so I have just included a range in these graphs based on the Steem price.

It would be interesting to look at a daily payout value based just on the Steem Price assuming a constant reward pool and constant voting patterns and how much the actual payouts are deviating from this.

bitdollar (60) · 7 years ago

Payouts have been going up the past 2 days! Loving it! =)

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eroche (67) · 7 years ago

If we get a bit of momentum on the Steem price it will go even higher.

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joelfriedman68 (53) · 7 years ago

I am noticing more stabilization as well. Hopefully we have reached a

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eroche (67) · 7 years ago

It is very disheartening when your post payout keeps dropping.

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paulag (73) · 7 years ago

Thank you for this, it is interesting. I have a question. What is Daily RShares?

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eroche (67) · 7 years ago

When you vote, the value given because of your vote depends on your steem power, your voting power, and the vote percentage. This is calculated as something called Reward Shares. To see some examples you can check out steemdb https://www.steemdb.com/travel/@eroche/ambient-sounds-in-spain-2017716t155115898z/votes

These are then used to calculate the proportion of the vesting fund for distribution to each post and comment.

paulag (73) · 7 years ago

thanks

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haphazard-hstead (66) · 7 years ago

I've been wondering about the balance between the reward pool and payouts in the last few days. My post payouts seem to be more stable. It's nice to see in graphs, though. I'm not sure my overall payouts are better than before HF19, though. It seems like they will be lower than before HF19, even though I've got more comments and engagement than ever on my posts. Tough luck on that, I guess.

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machhour (61) · 7 years ago

thank you so much for this great post

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bitgeek (62) · 7 years ago

Great article, thanks for the info, Ed.

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kyle.anderson (60) · 7 years ago

I think the big takeaway from the graphs is post payouts have returned to normal.

After the hardfork, comment payouts increased rapidly when people were playing with their new found voting power. This has clearly equalized to what is favored economically.

As I always say, the race to Nash is futile. The incentive structures in steem are still strong.

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booster (68) · 7 years ago

This post has received a 2.01 % upvote from @booster thanks to: @eroche.

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wiedy (48) · 7 years ago

Why is there the same graph three times?
(Daily SBD Payout)
And can somebody tell why 7-9th of July isn't fully payed out yet?

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eroche (67) · 7 years ago

This report takes a few days to prepare, it's not live linked to the Blockchain so there may be a bit of delay.

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