I tried the Pay me 100% Steem Power option. Hard numbers and actual evidence illustrating how it worked for me.

in steemit •  8 years ago  (edited)

Is my math correct? Not exactly... please see the morning edit.



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Last night I did a quick calculation concerning the results of my first Pay me 100% Steem Power post. (There is a new check box on the booth right of the "submit story" screen.)



Because I did not use enough actual hard numbers, it lead to some confusion.

Here are the actual hard number results.

First of all, in order to avoid confusion, I am only including post curation totals.

MORNING EDIT: THE FOLLOWING CALCULATIONS ARE ONLY TRUE WHEN USING THE CONVERSIONS OF OUTSIDE EXCHANGES. ON THE INTERNAL EXCHANGE, THE RATIO IS STILL BASICALLY 50/50. Thank you to @thecryptofiend and @jesta for clarifying this.

Second, I am using today's Poloniex values of :
Bitcoin = $609
Steem = 0.00087331 BTC
Steem Dollars = 0.00137924

Here are my last 2 blog post payouts.



The first was paid out as 37% Steem Dollars and 63% Steem Power

The second was paid at 39.4% Steem Dollars and 60.6% Steem power

I had several other posts as well. None were 50/50 Steem Dollars to Steem Power (I believe this has something to do with the fact that one reached 2% of market cap... but I need more info on that)

All were near 40% Steem Dollars to 60% Steem Power so for simplicity I will use those numbers.

My 100% Steem Power post earned 30.87 author rewards.



Traditional payout with 40/60 ratio would have been

12.348 in Steem Dollars (12.348 at 0.00137924 = 0.01703086 BTC = $10.37 USD)
18.522 in Steem Power (18.522 at 0.00087331 = 0.01617545 BTC = $9.85 USD)

Total would have been $20.22 USD

100% Steem Power Option



I was paid author rewards of 49.214 Steem Power

49.214 in Steem Power (49.214 at 0.00087331 = 0.04297908 BTC = $26.17 USD)

Total was worth $26.17 USD

$26.17 - $20.22 = $5.95

It appears that I came out $5.95 ahead.

Like I said before, I am completely new to Crypto, so there may be a factor I am missing.

I am looking for someone to either confirm my math or prove it wrong (My pride isn't riding on this, I'm wide open to either).

Once again, please don't take this as investing advice. The fact that I'm still not sure about this, should show that I'm not expert.

Thanks to a conversation I had with thecryptofiend, I see a problem with my calculations. The above still seems to be correct... if you are using conversions from an outside exchange. On the internal exchange, Steem Dollars are always tied to $1 USD. Steem Power also has a different internal value. Therefore, the payout is closer to the 50/50 payout that I have grown accustomed to.

My new calculations still have me coming out ahead for the pure 100% Steem Power payout. But there are so many moving parts (especially price fluctuations) that it is difficult to lock into a simple and rock solid formula.

So in the end, it still comes down to whether or not you want to think short term or long term.

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8 years ago by

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$1.04
  • Past Payouts $1.04
  • - Author $0.80
  • - Curators $0.24
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      ·  8 years ago 

    Just to add a bit of clarity to what you're attempting to do, I figured I'd leave a note.

    The SBD/SP values that are paid out aren't based on live poloniex data, they're based on the 7 day median average of the prices the witnesses report. So it's flattened out over a larger period of time.

    To be honest, I'm not sure exactly how to go back and look at what the rate was when your post paid out, so I'm not sure I could even attempt to do the math.

    Interesting observations though! I've been meaning to test out doing a post with the 100% payouts enabled just to see how it goes :)

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        ·  8 years ago 

      Thank you so much for clarifying. I just could not wrap my head around it. I edited and eft a very large message in the middle of the post clarifying (and thanking you and thecryptofiend). I thought about deleting the whole post but I still think it might be helpful in that it can cause people to look into the feature on their own. Also, I want to thank you for the classy way that you pointed out my error. I'm sure some people would have flamed me for getting this wrong. Instead you simply pointed out my error and even ended with a kind message. I appreciate the time you took to help me and the way you delivered your message.

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        ·  8 years ago 

      Great post and happy to upvote. Now following and looking forward to reading more of your posts. Catch us also on Twitter Twitter✔. Cheers. Stephen

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          ·  8 years ago 

        Thanks for opening the debate.
        I'm following.

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            ·  8 years ago 

          Very interesting, @hotshotfirst very interesting.
          I was going to experiment on a future post doing the 100% steem power option. My goal is to accumulate as must as possible without hubby knowing there's value there. LOL Shhhh....
          But that may have to wait as I need every penny ATM.

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              ·  8 years ago 

            I wonder why the ratio changes. I thought it was supposed to be 50-50 not 40-60 as it appears there. I am sure someone with more knowledge will figure it out and make a post. Thanks for highlighting this issue.

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                ·  8 years ago 

              I believe there is something in the white paper about the payout changing when something happens with 2% of market cap.

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                  ·  8 years ago (edited)

                I now believe the issue is that the ratios are built according to the internal market and I was using an external market. It is much closer to 50/50.

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                    ·  8 years ago 

                  Thanks for the post! I am doing all my posts with 100% steem power going forward to help the community.... and myself.

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                      ·  8 years ago 

                    That is exactly how I am looking at it. I just wanted to see if there was also a financial advantage. It's not as clear cut when you use th numbers form the internal market. But I still want to help the site grow.

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