Steemit Rewards Breakdown (A Simplified Explanation with Illustrations)

senseicat (72) · 7 years ago

Thank you for creating those amazing charts to help explain the Steemit rewards breakdown. Excellent advice for everyone in our community from minnows to whales. Please resteem to pass along this valuable information.

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4 votes

socky (72) · 7 years ago (edited)

I'm glad you liked it. I was confused for quite a wile on how it worked and took a huge amount of research to understand it. I had to put this together to provide a simplified explanation. I hope it lands on @jerrybanfield steem.guide

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5 votes

roleerob (66) · 7 years ago

Thank you for this great post @socky! Very helpful. You obviously put a lot of work into producing it.

Given how complicated all this seems to be, have you written any posts on resteeming?

On the move ... Posted using Partiko Android

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irakrakow (47) · 7 years ago

Thank you, @socky, the the clear and simple explanation of the rewards system. As they say, a picture is worth a thousand words. Until I read your post, I was confused about when to comment, what posts deserve comments, curation rewards, and payouts. You are doing a tremendous service to the Steemit community. Steem on!

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socky (72) · 7 years ago

I'm glad I get feedback like that. It lets me know that someone found it useful. I grateful.

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irakrakow (47) · 7 years ago

The best way to talk to Jerry is by joining his Discord server. He explains it here:

I'm on Friends Of Jerry Banfield. He has a number of channels. The one I have is his Friends Chat channel, which is free to join and which, as he explains, he actually answers all questions.
It might take a day or so for him to catch up with messages, but he will respond. If you scan the messages and his answers, you will see that I asked a question and he answered it.

He also has some premium channels which you need to pay for, but right now the Friends channel should work for you. Link to your guide in your message to him and I think you will have a great chance that he will answer you.

Best wishes, Ira

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socky (72) · 7 years ago

Thank you. I have actually reached out to Jerry for another subject on his discord channel.

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steemtaurus (33) · 7 years ago (edited)

Finally an up-to-date, short explanation of voting/curation strategy. Thank you.

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socky (72) · 7 years ago

So glad you liked it. I worked very hard on this one.

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nishadhasan (50) · 7 years ago

@socky It's a good post. Now, I understand what happened with Curation. Upvoters take too much revenue for curation. Feeling sad.

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socky (72) · 7 years ago

Don't feel sad. My blogs are good to vote for since there are very few voters and high dollar amount.

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nishadhasan (50) · 7 years ago

I also need a good amount of vote with good voting value. I sawed that you voted your own post and get more than $5. I also need some votes like this. :( Hope you will help me to get that.. BTW you are the best. Love your writing.

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zemiatin (57) · 7 years ago

Finally. An easy explanation of how the rewards system works. Thanks for doing this.

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socky (72) · 7 years ago

Thank you for the praise!

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pieter87 (50) · 7 years ago

Nice post!!! Seen a couple of calculations about this pass before but this is by far the easiest explanation I've seen thus far.

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socky (72) · 7 years ago

I’m glad you thought it was better. I plan to use this to explain to a cryptocurrency group. The hope is to get folks to sign up to Steemit. More work in this illustration means less effort to explain Steemit.

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pieter87 (50) · 7 years ago

Indeed. Especially when you see that a lot of new member guides are still assuming the SBD price is pegged at 1$. I know it's designed to be so and the whitepaper is also mentioning it but the course is manipulated so it's confusing.

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glaopi (12) · 6 years ago

Nice idea

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shitsignals (63) · 7 years ago

Nice post very short and informative about steemit rewards 😎.

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socky (72) · 7 years ago

I wanted it free of distracting info such as links, praise-me stuff, and heavy reading. Simple as possible and not hard to read. When I google stuff I want the answer fast. I don't want to dig for it. That was the concept. Thank you for resteem!

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jdale33 (29) · 7 years ago

Good post, keep it up @socky

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socky (72) · 7 years ago

Thank you for the resteem. Your support is very appreciated @jdale33.

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jdale33 (29) · 7 years ago

No problem @socky let’s build a better steemit comunity and build a better society as a whole! Social media believe it or not has huge impacts in real society! I see steemit as a way to show what social media can bring. Friendly, and in an informed society! We will see how the steemit comunity evolves as it continues to grow. Excited!

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samuel-swinton (61) · 7 years ago

Great explanation! Perhaps the rewards need to be confusing so people focus more on carefully choosing quality posts to vote for instead of trying to game the system.

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socky (72) · 7 years ago (edited)

I think quality is where votes should be. Reality is that until there is a huge following, there will not be much visibility to make a difference. Key is to make post short and simple until there is a huge following. I put a lot of work into understanding the reward system and creating illustrations. It really didn't pay off. I even paid for votes to get visibility, and that didn't work. I need to stick to my very simple blogs for now until I get a following.
It does help that folks commented and liked the work. At least I got that.

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batatzone (45) · 7 years ago

great post,, very useful,, good job @socky

socky (72) · 7 years ago

Thanks for the comment

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azmi662 (50) · 7 years ago

This is a fantastic and very easy to understand explanation. i'm looking for something like this. Thank you very much.

socky (72) · 7 years ago

I’m grateful that so many people found it useful.

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fernandes (51) · 7 years ago (edited)

Amazing. You create a chart to explain how steem rewards. Information useful to me as well as many others people.

Thanks for sharing your information in a creative way. Good job @socky

socky (72) · 7 years ago

Thanh you. I appreciate the comment.

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msvee (53) · 7 years ago

Thanks for the explanation. I was having a difficult time understanding curation rewards. This makes it very clear.

socky (72) · 7 years ago

That is great you got some useful info from it. It was a struggle for me to get it at first.

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thickythick (25) · 7 years ago

I'm new to steemit and was wondering how everything worked. This is actually really helpful, thank you!

socky (72) · 7 years ago

I wish I had this when I started. It took me forever to my head wrapped around it. I'm glad it was helpful.

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awesomepaul (37) · 7 years ago

Great job, very easy to understand most especially by using the pictures ilustartions...thumbs up

socky (72) · 7 years ago

Understanding is everything. Thanks!

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jelocy (42) · 7 years ago

Faedah?
I think this post, unfaedah. Every member knowing this.

socky (72) · 7 years ago

I hope it can benefit many. Thanks

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doctorrevelator (47) · 7 years ago (edited)

OOOOOOOOoooooooOOOOOOOOHHH.

Thank YOU!

socky (72) · 7 years ago

Thaaaaaaaaank Youuuuuu. Hahahahahahaha. Glad you liked it!

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indigoocean (67) · 7 years ago

Thanks for this breakdown. Question: Is there a different curator reward based on who votes before you or after you?

I seem to have read somewhere that you get a bigger share of the rewards from upvotes that come in after yours than for those that came in before yours. Is there any truth to that?

socky (72) · 7 years ago

My understanding is that works in the first 30 minutes. The trade-off is that you share rewards with the author within the first 30 minutes. It would be a gamble to make that work. The gamble is that you think that there would be voting on the blog that brings big money later.

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indigoocean (67) · 7 years ago

Thank you.

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rhyscn (49) · 7 years ago

This is a fantastic explanation, I was looking for something like this. Thanks a lot. Upvoted and followed.

socky (72) · 7 years ago

Thank you so much. I'm glad it helped you out.

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angryboy (50) · 7 years ago

Very much pleased to u for this well work.... @socky

socky (72) · 7 years ago

I pleased the @angryboy! Must mean that I did very well!

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zyx066 (72) · 7 years ago

This is very helpful indeed! Thanks!

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tsnaks (63) · 7 years ago

You don't understand how thankful i am for you posting this !

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postpromoter (63) · 7 years ago

You got a 1.94% upvote from @postpromoter courtesy of @socky!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!

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peacedonkeys (28) · 7 years ago (edited)

I like your charts, they are really helpful, thanks for the effort you put in. I'm new here, and still not quite sure how this stuff works. So are you saying if someone likes your article 2 weeks after you write it, you will get nothing for it, but the person who liked it (votes for it) will get something since it is more than 30 minutes after you wrote it? I'm a bit confused about this still. And also, does it cost you to vote?

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theuxyeti (64) · 7 years ago

this is great... Id love to use your model and remake this and ill post it and split half with you let me know
thanks

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ezincrypto (35) · 6 years ago

Thank you I put this into my saves, very useful to return to also.

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luxcity (30) · 7 years ago

I can't tell you how much I appreciate this article. I have been quite confused trying to learn how steemit works. Your post is a HUGE help.

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buildawhale (74) · 7 years ago

You got a 2.86% upvote from @buildawhale courtesy of @socky!
If you believe this post is spam or abuse, please report it to our Discord #abuse channel.

If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.

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a-steemit (31) · 7 years ago

It's a good post. Now, I understand what happened with Curation. Upvoters take too much revenue for curation. Feeling sad.

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qiyi (54) · 7 years ago

Good post! Very good illustration, really helps me understand better.

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pushup (51) · 7 years ago

13.99% @pushup from @socky

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sorin.cristescu (71) · 7 years ago (edited)

Very good and informative post, I thought I knew everything about this topic and it still managed to clarify some gray areas. Too bad I've seen it 2 months after it's been published.

Out of curiosity, why is it important that it lands on Jerry Banfield steemit guide ?

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wangimnida (53) · 7 years ago

스팀잇 구조와 자세한 거에 대해서 설명해주셔서 감사합니다!

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idreesids (38) · 7 years ago

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lanmis (43) · 7 years ago

What about resteeming. Do we, as readers, get a reward when we resteem someone else's post?

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https://steemit.com/steemit/@vyaduka/steem-steem-power-steem-dollars-voting-power

vyaduka (59) · 7 years ago

I have written about steem, steem power, steem dollars and voting power

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stephenthorburn (44) · 7 years ago

Awesome graphics. It makes it easy to understand. Thanks

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pandasquad (58) · 6 years ago

Your analysis posts are very easy to understand so thanks for that. Do you happen to know why sometimes STEEM is paid in the reward and what influences the amount?

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twodorks (58) · 6 years ago

Here’s a simplified explanation sissy!!! @maquemali

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maquemali (62) · 6 years ago

Hahahaha oo nga nice one sissy!

_{This comment was made from https://ulogs.org}

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twodorks (58) · 6 years ago

So dapat within 30mins dako nga amount tas low ha mga nag vp

Posted using Partiko iOS

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maquemali (62) · 6 years ago

Yes yes yes hehehe..

Posted using Partiko Android

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lucyho (45) · 6 years ago

I’m just replying so I can read it later because the resteem button has expired

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usman93 (62) · 6 years ago

Hi @socky. First of all bundle of thanks to you. You always give valuable information. I listened many time that Steemit has changed the rewards policy (after Hard Fork 20). So kindly define about new policy of give away. How are they paying curation rewards as compare to time?

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prakashmondal (48) · 6 years ago

thank you for the information

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ketcom (72) · 6 years ago

Hi @socky, I think you need to redo this post based on the outcome of hardfork 20. Things are not as described in this tutorial again due to some little changes. We love to see your rework as your explanations are on point.

Posted using Partiko Android

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jojivenna03 (48) · 6 years ago

Thankyou for creating such beautiful illustrations @socky it is very useful for me as I am new to steem it

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