SBD At US$40 Would Have Been Achieved

positivesynergy (43) · 7 years ago

It's always great reading your excellent informative posts, @dpl. I'm fasting now, so too light headed to crunch numbers in detail now. But I was wondering what your would be on these numbers.

My Impossible = I'm Possible post paid out yesterday 4.914 SBD + 1.370 STEEM POWER. I'm guesstimating the 1.37 SP was worth somewhere in the region of 1.6 or so SBD that would total somewhere around 6.5. I took a screen of the total on that post at the time of payout at 12.22. So 12.22 X 75% (that we are supposed to get minimum author payout according to FAQ) = 9.165 No matter how I crunch them I get a ballpark reading of 53-55% max. attempting to take into account of the difference in SBD to Steem value. I would appreciate what your read would be there and maybe even if you might go and do the same sort of calculation on your last post payout to see if this is a more broad-based issue on steemit.

$0.09

eonwarped (68) · 7 years ago

Heya~ about post value, see this excellent diagram. The gist of it is that the blockchain operates under the assumption that 1 SBD = 1 USD (because that's how it honors the native conversion mechanism, which is hidden from you now).

$0.06

positivesynergy (43) · 7 years ago (edited)

Hi, @eonwarped. I appreciate your info, but that is an outdated diagram, which is no longer true. So what is it that you are trying to say exactly, because it doesn't really make any realistic sense to me.

1 SBD is worth $2.43 ATM. Instead of looking at old outdated info, maybe you could try looking at some real math with some real payout figures of yours and prove to me with screen shots you actually get 75% for author reward and 25% curator reward. I think you might be very surprised. The truth for me at least is now the payout this last week was somewhere between 53 and 55% and the curator reward is about 1%. I know @dpl said he's been seeing something similar, but I haven't taken the time to really verify that others have the same results. To be honest, I suspect the whole triple ledger steem system and all the complexities is designed specifically to throw off and blind people from the truth. But go check it out. I'd love to see some more encouraging details.

$0.09

eonwarped (68) · 7 years ago

It's because you are thinking in terms of the market value of the SBD portion of your reward, and that's simply not what the 75% takes into account.

If you treat your SBD as 1 USD you will see the 75% figure pop out (although that doesn't include the curator early vote penalty.)

I know this seems really weird but the disconnect comes from the 1 SBD = 1 USD peg bring broken. When the blockchain pays the 50% of your reward on SBD, it does so with that assumption, only using the reported feed price to convert steem amount to SBD amount. (It doesn't track the SBD market prices)

The diagram is accurate if the starting point is what is displayed to you on the website. But that figure that you see is already taking the steem value of your post and multiplying that by the feed price. Moreover, that number only updates when a vote is cast, which causes a further disconnect if the price falls between the time you see the number of your payout and the actual time of payout.

If you like details, I've walked through the payout code here.

Feel free to find me on steemit chat or discord, same name.

$0.00

positivesynergy (43) · 7 years ago (edited)

Thanks, @eonwarped.

Do you realize this is actually proving my point with those details as well? As I said,

"I suspect the whole triple ledger steem system and all the complexities is designed specifically to throw off and blind people from the truth."

I don't complicate it in terms of market value per se, but simply at face value of what Steemit advertises everywhere of 75% author reward of the payout value. Steemit is the perfect example of the age old saying, "the devil's in the details" i.e. in this case a misleading on the part of the management, which explains part of why 90-96% of all steemians have now left unsatisfied with steemit.

You also said,

"...that [payout] number only updates when a vote is cast..."

This simply is not true at all. FAQs states,

"..based on the current voting activity and price of STEEM. These potential payout amounts may fluctuate up or down until the payout period ends."

I see you are right, though, when you say,

"1 SBD = 1 USD"

As the FAQs do now say at the end,

"The blockchain assumes Steem Dollars are worth approximately one USD."

The FAQs are still very poorly written to reflect the real truth in a clear cut understandable way for steemians to understand, many of whom do not speak English as their mother tongue, and thus are very misleading at best. In other words it seems written more in the corporation's interest, instead of in the investor/author/curators interest, which are really the heart and soul of steemit to begin with. There are so many areas of the FAQs that are poorly written for people to understand clearly.

For example, I was speaking to someone yesterday, who said she just invested 3 steem into steem power and when I told her if she ever wishes to power down and get that back, the system will not allow 5 steem to leave. She started crying. Man, did I feel bad. Of course, I thought it's only like $10, but told her hopefully in time she will get it back one way or another through putting it to use. I didn't say the curation is currently paying around 1% though. Probably most of the people who have left are not wealthy enough to invest that much into it and never get anything out. That is the saddest thing to me about steemit and the misleading hype. I'll be honest and say that it really struck a chord to here her cry and wish @Ned knew things like this happen.

$0.13

3 votes

eonwarped (68) · 7 years ago

I agree, it's really not ideal.

A few points: about the value fluctuating, what you say is true but I was referring to the fact that those changes don't reflect on the website until something changes.

About the power down, it's possible to take it all out, but you need assistance from someone to provide delegation to get the required bandwidth to send it all out. I would be willing to do so for example.

positivesynergy (43) · 7 years ago

Thanks again for the attempt to give me a hand. BTW, I decided to shoot another piece out on New World Currency - May 16, 2018? and I was wondering what your thoughts may be on it. Thanks

positivesynergy (43) · 7 years ago

Hi @eonwarped. Yeah, I had a feeling it was a matter of semantics.

Can you explain that more on the power down option? I have the same name in the steem.chat and just sent you a message.

dpl (56) · 7 years ago

Hi @positivesynergy

I have noticed the same and I am gathering information on this. I will definitely write a post on it.

Missing you posts man. When are you writing again?

positivesynergy (43) · 7 years ago

Thanks for the info and kind words. I remember GuiltyParties implied that the payout had changed, when I asked why I was getting so much less, and complained that the FAQs never get updated in a timely manner. It just pisses me off seeing it continue to drop every week.

BTW, with @surfermarly in a recent post she did yesterday we've been dissecting some of Ned's recent comments and one of the comments in the Bloomberg interview a few days ago seemed to sound as if he's trying to sell steemit to Facebook. In another video she said Ned admitted Streemit is centralized. Plus, the HF20 seems like they are headed down the wrong path and has a lot of people nervous on how he is saying in Korea he wants to change it, as well as a comment he made on another post, saying basically that not all accounts will be eligible for the new changes. Implying they will discriminate between us to stop the bot wars. It may be the beginning of the end. So I keep asking myself why even make anymore posts, where I have to spend SBD just to get any visibility, which causes me to continue to have to reset the Power Down process and restart the 13 week countdown over and over again, as well as seeing the payout continue to go down, if he ends up selling all of our data to Facebook. It just seems the deeper I look into all things steemit, the worst the situation seems to get.

$0.09

dpl (56) · 7 years ago

Dammit!!! Will we ever get a break!

I've been powering down but this shit takes time!

Thanks for letting me know man. I'll join the conversation that side.

positivesynergy (43) · 7 years ago

My thoughts precisely. It really blows me away that if it is really broad-based that the payouts for author rewards are down to just above 50% and from what I gather on the curation rewards payout is down to 1 or a few percentage points at most that no one has picked up on that. Maybe some of the whales are aware and that is what is behind the whole anti bot and buying upvotes thing for them, as they say they cheat the system and steal from the rewards pool of everyone. The point is if you have a system where quality content gets no visibility unless bot upvotes are used then the system itself is inherently corrupt, as Dan said.

And then there is the whole Dan thing. GuiltyParties told me it was Dan who nuked @berniesanders to that -16 rep he has and he also told me other times that Dan has been doing a lot of downvotes on others too. So last night before leaving I did a search and found that to be true too, with posts just on Dan's downvotes. So it puts a little doubt on the whole EOS and his idea of making a sort of steem II on EOS that fixes the problems, if he starts abusing the same fault in the system that he so resonantly pointed out Ned and others were doing.

It's all quite a silly soap opera, except for the fact of the damn 13 week power down shit that almost imprisons us in this damn site for months and months after waking up to smell the shit... It's a bit of a catch 22, in the sense that if we post the truth then we may really endanger the investment and anger others who have invested in SP, which let's face it does blind us to some degree, and brings the risk of some mega downvotes to wipe out the rep. Now I'm starting to understand @berniesanders critiques of many things steemit and why sometimes his emotions get so angered.

I recall Bill Ottman, co-founder of Minds, said several times in interviews how research has been done on such cases as that girl who felt cheated by YouTube and went in shooting, which shows that mistreatment and abuse on social media platforms creates violence. Thus, the bot wars and downvote wars of steemit.

$0.08

dpl (56) · 7 years ago (edited)

I just sold all my EOS. Whether I lose out on it or not. I will not support people doing this.

Steem will take a bit longer but I'll be rid of all of in 13 weeks.

Thanks a million for the info man. I ow you one

positivesynergy (43) · 7 years ago

Actually I feel like I owe you too, given the support you have given me. I guess that's because we're both good-hearted people. Yeah, I put in a limited sale order of all of mine too, if and when it hits there. I've herd Dan speaking when interviewed by the Dollar Vigilante and others and I still try to give him some benefit of the doubt. Plus, if he created steem and bitshares, from what he has said his steem II version on EOS should still be a lot better than here either way. Also EOS will be a platform that many will launch ICOs on to compete with Ethereum, Stellar and NEO for a very big expansive space.

$0.05

dpl (56) · 7 years ago

If you do think EOS will be good in the future then sell it now and buy it back when it goes to shit after dan destroyed Steemit.

All depends on the timing though.