RE: Understanding Steemit : Know How Steemit Reward System Works and How Rewards Are Distributed!

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RE: Understanding Steemit : Know How Steemit Reward System Works and How Rewards Are Distributed!

inertia (73)in #tutorial • 7 years ago

Yup. I'm so glad they implemented Simplicity about 10 months ago.</sarcasm>

7 years ago in #tutorial by inertia (73)

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spiritualmax (64) 7 years ago

Lel... I was unaware of this :D

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ilyastarar (64) 7 years ago

To be fair to Steemit Inc. , they had done their best to make the whole thing pretty simple.

If SBD = $1, the whole consideration is 100 percent true. For a $100 payout, 37.5 SBD will mean $37.5 and the value of rewarded SP will also be exactly $37.5 (it still is). Curation rewards will also be equal to $25 in value.

But they did not factor in the huge presence of SBD on external exchanges which could be, and has been, subject to massive buy orders.

As far as the reward distribution algorithm is concerned, it cannot be simplified without making major changes (hardfork) and, probably, causing a huge wave of shock and reaction.

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ilyastarar (64) 7 years ago

Your sarcasm is on point though. ;)

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arrowj (56) 7 years ago

You are doing a great job at explaining the complexities of the system in such a way that it can be grasped if grappled with. I think it is a good idea and worth doing. Still, I do not think Heston was relieved when he rode up to the toppled Statue of Liberty :)

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