STEEM Token Unit (STU): When A $ Is Not A $: Plus The Damn Is Breaking On Active Users!!!!
Sorry I completely botched this entire thing up.
I posted repeatedly how the $ denomination on the Steemit website was referring to dollars. It has nothing to do with that. The $ sign on the Steem blockchain does NOT mean dollars.
Instead, it refers to the Steem Token Unit (STU).
I came across reading an article by @dragosroua. For those who are unaware, he is the developer of steem.supply, a site everyone should be using to monitor their payouts.
Here is his article:
This is exactly the reason I keep go further down the rabbit hole...there is always more to learn and uncover.
So what is a Steem Token Unit?
In the article he uses $100 payout for a post, so I will do the same for consistency.
Basically, $100 payout means that $75 goes to the author with $25 going to the curators.
Of this 75, half is in SBD, the other in SP.
50% of 75 is $37.5 meaning you get both $37.5 worth of both SBD and SP.
Obviously, since SBD is pegged at $1, that is 37.5 SBD paid out. Using his $8 SBD price, that is $300 ($8 x 37.5).
When you add that to $37.5 you get $337.50 payout in dollars.
According to all this advanced math, 100 STU (denoted on the site in $) is really worth $337.5 USD to the author. Of course, this can change with the movement in price.
I apologize for misleading all of you. It pains me to tell you that I was wrong while hoping that you can find it in your heart's to accept the fact you will be making more money off each post than you thought.
Daily Active Users
@penguinpablo put together a wonder list of daily stats. One thing that caught my eye, especially in lieu of my article earlier today.
According to a chart he put up, the number of daily users is really jumping reaching an all-time high yesterday.
It appears the last week has seen the number of users steadily at 40K per day. Now we see a jump the last couple days. Could this be another leg up in this stat?
Another chart is equally as encouraging.
The last two days saw 15,500 new users sign up. This is also a significant jump from what we saw recently. Now this simply could be that the sign up process is getting caught up. Or it might be that part of the automating of the process was done. Whatever the reason, this equates to a pace of over 225K sign ups in a month. Perhaps my 1M+ sign ups by the end of year (in a month) was a bit conservative.
For his article:
https://steemit.com/steemit/@penguinpablo/daily-steem-stats-report-friday-january-05-2018
We are seeing a convergence of more users on this site, more activity taking place, and pricing action that is moving along with it. Are we starting to see the onset of the radical jump I have been writing about the last two months? It is possible.
Between Hard Fork 20, Communities, and SMTs, I believe we are looking at a rocket ship ready to take off.
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I think I can speak for all and say we’ll cut you some slack.
I'm still fairly confused, but I've grown accustomed to it. (-:
I don't think i've heard of STUs ... another day, another (steem) dollar ... but that's ok, KEEP THEM COMING !! (-:
It isnt a currency per se but a unit of measure from what I can garner.
The $ on the site is denoting a STU which is equal to the dollar value of the distribution of SBD plus SP.
So a $100 post (or 100 STU) is worth 50 SBD ($400) Plus $50 worth of SP ($50).
Hence at those values for SBD and SP, 100 STU is equal to $450.
I rechecked dragosroua and I think i finally get it... but just in what you mentioned above you gotta take out the 25% curation first.
Thanks
Correct. The numbers I posted in the reply to you is the total pay on the $100...
In the articles, it is only the author's pay since the 25% was removed.
You got that right @preparedwombat, I always cut slack when we end up making more money. Great comment. 😉
For accurate pay-outs, the steem.supply website now also has a toggle for Steem Token Units
Check it out:
http://steem.supply/@taskmaster4450
Based on this, and coming from an optimal monetizing standpoint, one should always opt to take payment in 50/50 SP and SBD as long as SBD holds a value greater than $1.
Am I thinking about this correctly?
Absolutely @dirkboy41.
It is much wiser to go for the 50/50 split while SBD is above $1.
As long as that takes place, you are getting more SP, overall, when you convert it over allowing one to power up quicker.
This is amazing! Thanks for the deep dive into the payout structure!
LOVE IT!
Another thought... If STEEM continues higher to say $20, that would increase the influence of SP even more resulting in even more valuable posts. Would this be sustainable?
Yes. Yes, it would be.
I try not to let the denominations and the whole money issue occupy too much of my time; I am mostly here to create some content and build another social presence for our organization. The rewards are a lovely thing, but I treat them much the same as we treat donations: They are great when they happen, but they are not something we count on.
The greater numbers of members is very encouraging, though. The more people who adopt Steemit, the lower the resistance when talking about the site to other social media users.
Hi @taskmaster4450,
Thanks for this.. this is something I have wondered about myself... but this leads me to slightly more confusion...
Have you noticed that when there is significant price action of SBD or STEEM that the value of our posts go up or down... do you know why that occurs? I would have thought that if my followers upvoted me to a $100 post then it would stay at 100 STU regardless of what the pairing of USD to SBD or STEEM is doing. Does anyone know why this happens?
I read that the STU is based upon a 3 day moving average, hence over the time the post is open for voting, it is going to fluctuate especially when there is a big move in the price of steem or SBDm.
Thanks @taskmaster4450... clearly smarter people than I have thought all of this through. I'm still not really sure how that works... if I upvote you today and give $0.06 STU to this post... does that value change over the next 7 days? It could become $0.10 if there is a huge move in price action? If that's the case... there must be so much computing power over all these constant calculations.
It is awesome to Steem grow more and more. However, the community still has to be fine-tuned as greed has corrupted people. Those people have become toxic and are poisoning Steem and are hurting the overall community. Overall, the revolution is coming and banksters are not going to be surviving for much longer once it truly starts. Keep up the thought-provoking content.
I agree @notoriousrebel.
There is a change that is taking place and many still have the same mindset.
I still see people coming to my posts not upvoting yet looking for an upvote from me. To them it is all about what they can get. That is fine. They are quickly becoming the minority.
Yes, a rocket ship ready to take off at a velocity equalling that of light. I must say that you are a man of foresight and your predictions are pretty soon going to become reality, and these make my hope soar.
I use Steemworld by @steemchiller as my main activity feed for my account. This is a great tool too.
It gives a fairly accurate display of expected USD payouts per post. Not to mention being a great way to keep up with incoming votes and comments.
Thanks for the post.
Keep Steeming!
Something about your previous post did not feel right and I was going to comment, but got distracted. I think your assessment is more accurate now.
I just had a post pay out and it was listed at $58.19 and paid out 22.739sbd and 3.297 steem. At the current prices of $8.12SBD and $6.30steem, the 'value' of the post in US dollars is actually $205.41USD. I convert the sbd to steem right away and as such I ended up with 32.026 steem which is still $201.76US. I lost a few dollars in the trade, but I'm not worried or concerned about that. Prices are fluctuating so much it is hard to keep track of it all. In the end though, the 'value' of the blog entry was not even close to the value in USD. But for me, the value is in the information being shared, but for all those who are working to make a living, it would be easy to put together a little spreadsheet to keep track.
@taskmaster4450 - I forgive you. Takes a powerful spirit to admit a mistake and an even bigger one to fix it. Bravo! <3
Thank you @wwf. I appreciate your support.
I believe you are going to love my post tomorrow morning. What you just wrote about the value being in the information shared really ties into it.
This is not so much about the money earned. I am a true believer in the idea that the Internet creates abundance in whatever it touches. At first it was information, then communication...now we see it entering the world of money. People are going to realize freedom because of this. It is up to us to make sure each person has what he or she needs to at least provide the basics for one's family. Fortunately, technology is allowing us to do that instead of trying to deal with the corruption and/or incompetence of government.
It is time we give power to the people...to right some of the wrongs...to rid ourselves of greed and fear...and to share and love others as we do ourselves. I want every minnow on here to get wealthy from Steemit...not so much for the money but so they can live without the pressures of financial struggle.
Abundance is our birthright...it is time each of us claim it.
Your views is exactly what I wrote about today regarding Spiritual Warriors not attacking the bullies but instead helping the vulnerable build strength and independence so that our communities are so strong, the bullies cannot cause havoc any longer. We seem to be on parallel paths my friend. It is exciting to witness the synchronicity starting to unfold. I must admit, I've not felt 'alone' here for months, unlike how I felt talking about these issues on Facebook. Perhaps it is time my friend and brother! It is time.
You're forgiven, @taskmaster4450. The more detailed breakdown in regards to reward tokens now has you totally out of the dog house... if you were ever in there in the first place. ;)
Following for further insights.