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RE: Why Steemit's Powerdown is Great News for SP Holders

in Project HOPE4 years ago

The part about controlling more of the reward pool is technically accurate but realistically inaccurate. That SP wasn't voting on anything prior to being powered down and thus didn't impact the reward pool at all. Your ability to allocate the reward pool is based on total steem powered up, but more importantly, the SP powered up AND voting.

For example, if there was 100 million SP powered up in total and someone with only 100 SP cast the only vote for the entire month or 3 months or whatever the average SP calculation period is in regards to reward pool, that one vote would allocate the entire reward pool. So, it's more than just steem powered up, it's steem powered up and participating. The main steemit account was not participating and therefore their powerdown will not directly impact the value of your vote.

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Hey there, thanks for commenting!

Great point here, you are absolutely right and this is not something I did not take into consideration; Steem wasn't participating in voting to begin with! Would you know if there's any data on exactly how much SP is being used, or what percentage of SP is "going to waste"?

excellent explanation @jondoe

thans