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RE: SBD At US$40 Would Have Been Achieved
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).
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 I appreciate your info, but that is an outdated diagram, which is no longer true.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 Instead of looking at old outdated info, maybe you could try looking at some real math with some real payout figures of yours and prove to me with screen shots you actually get 75% for author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.
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.
Thanks, @eonwarped.
Do you realize this is actually proving my point with those details as well? As I said,
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,
This simply is not true at all. FAQs states,
I see you are right, though, when you say,
As the FAQs do now say at the end,
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.
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.
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
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.