Recently I noticed the strange trend of my and other users post losing a significant amount of $ value at the time of payout. I was totally perplexed by the fact because I could not explain it, nor could I find a reasonable explanation to why this was happening. For this reason, I'm writing this up in hopes that someone reading this might be able to shed some light on this strange occurrence.
BEFORE PAYOUT
AFTER PAYOUT
That's a 25% unexplained decrease in payout!
What's even more strange about this is that some users lose more while others lose less and I can't figure out why that is. I thought it might be because I used busy.org to publish my post but I found out that busy doesn't take beneficiary rewards. Or at least that's what the post claims. Maybe they recently changed it, I can't say for sure.
BEFORE PAYOUT
AFTER PAYOUT
In this example, 14% misteriously vanished.
BEFORE PAYOUT
AFTER PAYOUT
Here, we see that "only" 8% was lost due to an unknown leecher.
BEFORE PAYOUT
AFTER PAYOUT
Lastly, @blocktrades lost only 3% here.
NOTE HOW: All of the post paid out at around the same time but lost different amounts.
THESE AMOUNTS AREN'T INSIGNIFICANT!
Myself, users who read this article and everyone who caught up to this, would like to know WHAT THE ACTUAL FUCK IS GOING ON WITH OUR PAYOTUS? I'm well aware of the fact that post value fluctuates depending on the price of STEEM which influences our upvotes, but before the that was value lost/gained changed throughout the week, not at the time of payout. Nowadays, post value is static throughout the week (if no further upvotes or downvotes come along) and then it suddenly drops right at the time of payout.
Does this have to do something with the SBD burning craze, or has there just been a change in how/when the final upvote values are calculated?
Why do some lose more than others?
Additionally, I would like to kindly ask everyone who is interested in seeing the mystery of vanishing payouts resolved, to re-steem this article and post a comment in which you tag people you think might be able to resolve it.
BONUS QUESTIONS: Why is a portion of our payouts burned? Why does the % burned fluctuate and what does it depend upon?
Some users I think should be able to give us an answer are: @timcliff, @quochuy, @therealwolf, @gtg, @guiltyparties, @ura-soul, @aggroed, @blocktrades, @good-karma, @lukestokes.mhth, @followbtcnews, @someguy123, @yabapmatt, @themarkymark, @thecryptodrive, @riverhead, @smooth, @pfunk, @pharesim
Thank you in advance!
You are not actually losing anything it is just the site isn’t properly reporting. The problem stems from the fact we no longer using witness price feed for calculation due to the hair cut rule.
In short, if the debt ratio (print sbd vs total steem) goes over 10% the blockchain will force it to stay at 10% by printing less sbd and making sbd trade for less than $1 during conversions (which are not on the site).
Third party tools and services have updated to use real price from markets like Bittrex but condenser still uses price feed on the blockchain which is generally much higher.
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This.
Also, @runicar, payout burned in your screenshot is probably related to the curation rewards, that are "burned" in regards to the 15 minute rule.
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Thanks for the insight and a quick response @themarkymark!
Why does the % "lost" fluctuate so much with no correlation to $ amount that I can think of.
Is @whack.science onto something with the burned amount being lost due to users upvoting before the 15 min mark?
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It fluctuates a lot because it is based on supply and has no idea what the real price is since it has no reference (witness price feeds) anymore. A few of us have been asking Steemit Inc to update condenser so it properly reflects the price in our current condition. Many services have made these changes already.
Yes, with HF20, you now return payouts to the reward pool if the vote is prior to 15 minutes. It isn't "burned" as the tokens are not removed from supply.
If the reward pool is 1,000 tokens, and your post is worth 10 tokens, you would typically get 7.5 tokens and curators would get 2.5 in a perfect world. With HF20 if a lot of those curators vote prior to 15 minutes, the post might only give 2 to curators instead of 2.5. So the reward pool would be 990.5 and not 990. So the 0.50 lost to curators isn't "burned", it is more "returned" for others to use.
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That explains everything. Thanks for clearing things out!
I appreciate you taking the time to offer your knowledge and quickly respond to my questions, so I gave you my witness vote in return.
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I noticed this too, and I wanted to post about it. But I think the 25% is lost after we get our full reward, so I don't think it affects our payouts. It could be a ddos attack.
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It's lost as soon as the post pays out and we never get the full amount displayed before the payout.
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The pre 15min burn of curation rewards was a HF 20 feature that avoided the issue of the author getting all the rewards before 15 minutes. Great to see the witnesses quickly answering!
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Thanks for the response @newageinv!
For some reason I thought it was returned to the reward pool.
Yes, I was quite surprised to see how fast they came to answer my questions.
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Whaaat? :O Would love to see some answers from those guys? Maybe @acidyo can help?
I think that burned part is anybody who votes under 15minutes is having a portion of their vote burned. Don't take my word for it but I think it's how it works
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Yep, I was as shocked as you when I first found out about this, if not more.
Could be, I completely forgot about that but I thought that it was returned to the reward pool, not burned.
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I think this has happened because steem has plummeted from 40 cents to 29 cents. Same strange thing happening to all due posts as I have observed.
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Could be, but as mentioned in the post, before the value was lost throughout the week, nowadays it's at the time of payout, which is strange to say the least.
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I might be wrong but it could be due to the new payout system with the new upvote time window. In the past the time window was of 30 minutes, if you upvote a post from 30 mins onwards, you get 100% curation rewards, if you upvote at 15% you get 50% and the author gets the other 50% etc... linearly until 0% where author gets 100% of curation rewards.
Now the time window is of 15 mins but what would go back to the author when the curators upvote before the 15 mins goes back to the reward pool instead. So technically, the payout is author reward + curation reward - what went back to the pool.
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Thanks for the response @quochuy! Will be interesting to see what others have to say and to get to the bottom of this.
What do you think about the burned amount?
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i came back to steemit after 7 months my account lost nearly 10x worth. dont know what exactly happening . wont my steem boom again :(. just now checked it might be all due to new payout system.
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It's due to the fact that STEEM lost a lot of its value since you were last here.
Don't worry about it, HODL and it will rise again. Possibly starting at the end of 2019, I'm expecting the whole crypto market to start increasing in value, STEEM included.
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Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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Hi @runicar!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 5.159 which ranks you at #903 across all Steem accounts.
Your rank has dropped 1 places in the last three days (old rank 902).
In our last Algorithmic Curation Round, consisting of 222 contributions, your post is ranked at #5.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
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