How to lower your expectations about STEEM reward payouts.
7 days ago, I decided to do a video on my first tomato harvest. Seeing that I made somewhat of a dull video of me cutting up tomatoes, I added to the article an explanation of how this season started. I provided images of each of my named garden areas and a brief description of what I did and how they were doing so far in the season. Of my articles, it was better than most, but probably not one of my best. I posted the article and went on. I got a few replies and while I was responding to those replies, I was shocked to see the upvote tally had gone through the roof.
I was trying to figure out what happened and then @greenacrehome posted this reply.
Notice that jump in votes and payout? You just got upvoted by @curie and their followers. :-) @georgemales submitted your post to @curie.
Apparently, @greenacrehome was getting ready to send my post to @curie as well. I was extremely grateful and humbled. As I mentioned, I didn't think it was that spectacular of a post, but apparently other people enjoyed it very much.
Wanting to get the most out of this act of generosity, I also did a @minnowsupport upvote on my post. I even did a @randowhale upvote. But, those were chump change compared to @curie. But, at least they helped push my article ranking up in Hot and Trending for a little while.
And, it jumped me from a Reputation of 52 to 54. The last time that happened, was when I had a few whales swim by on another post.
In fact, the post was being commented on and upvoted for a few days, which was a good thing and I was very surprised by the response. By the time it died down, I had doubled the comments and the upvotes and had 189 views. A great success, time to reap the rewards.
7 days ago, STEEM was trending upwards. The big BitCoin fork for August 1st looked to be resolved and everything was looking shiny for cryptocurrency.
6 Days until Reward Payout
My initial payout from the article, looked great.
5 Days until Reward Payout
Then it started to look better. STEEM was rising and so was my reward payout. Everyone was talking about BitCoin heading to $150,000 and crytpocurrencies shooting to the moon. It was a grand time.
4 Days until Reward Payout
And it kept getting better. STEEM had been at $2 earlier this year and now it looked like it was going to go to $5.50, according to people keeping track. There was no stopping this geyser of STEEM.
2 Days until Reward Payout
Okay.... things are dropping a little bit. But, it will be right back up before that payout! There is no way this thing is going to drop over 50% of its value like the last time I had a big payout. No sir.
2 Days until Reward Payout
Oh, no. Here we go again. Crytpocurrencies started dropping like rocks. STEEM was fizzling out.
1 Days until Reward Payout
Well, there doesn't seem to be much hope for a giant rebound. The slight up was followed by another dip.
3 hours until Reward Payout
The payout time is almost here and STEEM is trending downward. Baring a major uptick in the price, it looks like the reward payout, while good, won't be as impressive as I was hoping for. Just like before, that 7 day wait time is a roller coaster of excitement and disappointment.
Now, let me reiterate. I am extremely grateful for being put on @curie and the rewards I received. As a Red Fish, I am very lucky to have gotten more than one of these post boosters in the first 2 months of being active. Most Bone Fish/Red Fish/Minnows swim around waiting to get more than $0.10 upvote. It is a bit of a frustration that it makes people give up. Because, like it or not, STEEM advertises itself as a way to make money. And when you see Whales/Orcas/Dolphins making $50, $100 and $1000 for every article they post, it doesn't help to watch your $1.00 upvote go to $0.20 payout.
Also, I have been trying to be good about using the Conversion of my Steem Back Dollars(SBD) instead of the Market. In the long-run, it is best that everyone do the Conversion to eliminate the debt IOU notes that are SBDs. So, that means, when I convert my SBD, I have to determine if STEEM is going up or going down over the next 3.5 Days. It is just maddening to watch a $200 upvote on my article turn into less than half of what was expected.
Anyway, the moral of the story is, lower your expectations, when a reward is a week away. A lot of things can change in a short period of time.
you really haven't lost anything. Turn it into steem and then power up. You will get more steem because the price is lower. When steem goes up, so does your account. Enjoyed your post
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It is hard to tell if that is true or not, as far as losing value.
Part of it has to do with SBD fluctuations as well, which have leveled off this time.
However, I do plan on putting it all into STEEM Power. I have only spent a few STEEM on things, but will continue to put almost all of it into STEEM Power until I reach a level that will meet my upvote desires.
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Very useful article, will sign for you
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Well that was still a sweet payout man! Does our steem wallet also react to market conditions? You might still be in a good position.
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The "Estimated Account Value" does.
I think STEEM Power does as well. Because upvotes are also down right now.
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You might still be good. Maybe we just have to time our withdrawals or something.
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Well, you know when you power down your STEEM Power, it takes 13 weeks.
Once I build up my STEEM Power to a good amount, I will only do a Power Down once every quarter and I will just be getting lucky at that point on how much STEEM it makes.
But, yeah, trading to BitCoin and then out to cash will be another crap shoot. But, it does seem that STEEM has gotten in line with BitCoin lately, but we'll have to see how it goes after Aug. 1st.
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Right, Aug. 1st. Really 13 weeks? That's wild. Quarterly withdrawals sounds like a good move. Kind of like a bonus every 3 months. Especially considering this probably isn't most people's primary income source. I'll see if I can make some dough first before I think about taking out of the oven.
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Supposedly, based on the mining (or where ever STEEM comes from), you are earning 8% a year on STEEM Power as it sits there. So, you would get a nice bonus withdrawing every quarter to a balanced level (the minimum level you want for the maximum upvote you want to earn).
Maybe by the time I am ready to turn STEEM into real currency, there will be a method that doesn't require several hoops to jump through.
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If that's the case I would put all my chips into STEEM power. I'm going to look that up. 8% return is actually pretty damn good. It is a few jumps, hopefully once this thing is out of beta we get a user friendly platform.
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LOL user friendly... I don't think they want people to know how everything really works.
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I am still pretty lost when it comes to figuring out all that but I did not come here to steemit for the money but because I liked seeing a community oriented place on the web. Shared it for others to see it..
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Thanks for the share.
Steemit surely is NOT a get rich quick scheme as many believe. You do have to put in some effort. But, then when you get really big, it looks like you can lower your effort. Just my opinion based on what I see so far.
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See I only see the money I make in steemit as a store of value at the moment, For example lets say right now I have 100 steem/sp and right now it is worth about $1.26, already it is worth more then a U.S. dollar and that is awesome, but wait till is is worth $10, $20, even up to $100. If you do the math with only the amount of Steem I have for this example if it is worth $10, 100 steem = $1000 U.S. and if it is worth $100 100 steem = $10,000 U.S. The work I am doing here is an investment into my future. I love doing or creating something for people to see, and maybe I can help people by doing steemit. I know you appreciate what has been done for you but just imagine what they have done for you when your steem is worth $300 U.S. Our payouts may be less right now but every 1 steem we make could be worth $2500 in 8 years!!! Thank you for this post I enjoyed it!
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I am currently using STEEM as the same way. I keep packing it away in STEEM Power, so the STEEM I buy is worth more later and I get more of a reward when I upvote someone when I have greater STEEM Power.
Money for nothing. Or, money for what I used to do for free. Can't beat that.
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Holy. I'm going to make a harvest post as well now!
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LOL
And get the right couple of followers to submit you to @curie
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The same thing is happening to me with the "Weekly Chicken Gazette Part 2", got recommended to curie, got many upvotes and it rose to 104.00. Then steem dropped and the payout went down to the 70's. I too am greatful, it gave me much better traction and my rep went to 50. Oh well, it's that's just the way it is...🐓
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Just want to make sure you know that the author only gets 75% of the upvote payout in the first place.
At least it didn't lose over half of its value, like my first big payout did.
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