Explained: VOTE and POST VALUE DECLINE in Last Week (TOOLs and TIPs inside)
Vote Value Increase
With the latest software upgrade at Steemit (known as HF19), most of us have seen a dramatic increase of vote value. This increase is the result of two reasons:
The votes of a minnow (small SP holder) has the same weight in relative terms to a Dolphin, Orca or Whale. This is known as the linear vote curve. Before the software upgrade, the vote curve was exponential (square root to be exact) of the amount of Steem Power; Someone with 10 times more SP would have 100 times more value. Now someone with 10 times more SP has also 10 times more value.
The vote power at 100% has increase with a factor 4; meaning when voting with 100% power now, this vote power is 4 times stronger than voting with 100% power before the software upgrade.
Many users here at Steemit saw dramatic increase of vote values. I've experienced myself more than 8 times increase of values at my posts and more than 5 times increase in value of my 100% vote. Before the update my 100% vote was worth 0.12$ and right after the upgrade it was worth 2.56$ with 0,64$ for a 25% vote power (adjusting for the vote power increase at 100% - point 2 above). That is still in increase of more than 5 times.
Vote Value Decreasing
Since the software upgrade and the increase of post pending payouts and vote value, we see a gradual reduction in our post pending payouts and vote values.
Again two reasons:
Before the software update many Whales did not vote since some month or more ago an experiment was started to give the Minnows more vote power and value on the platform. The Whales stopped voting, resulting in more rewards available to the Minnows since the Whales would not receive anything from the daily created Steem. (note: each day the same amount of Steem is created to distribute to us as rewards to our posts and comments).
Steem value decreased in last couple of days quite a lot, from more than 2,20$ to around 1,80$ today. Earlier Steem peaked even higher, at around 2,50$.
Real Vote Power
The vote power and with that the vote value is relative to your vote power left. The system is created in such way that each time you vote with 100% power, your vote power decreases with 2%. That means when starting with full vote power left in your bucket of vote power, after 50 votes your vote power is zero (50 times 2% = 100%), and with that your vote value as well.
In the post by @scrooger (here) the vote power is explained in all details, including tips how to go about voting.
Good sources to view your vote power are:
Real Vote Value
What the real vote value will be when all the Whales are starting to vote again, we don't know yet. More Whales started to vote again; But maybe not all of them. The fact is that our vote value will always fluctuate. It depends in the end on how many votes are casted, the vote values, and your vote power. These variables fluctuate constantly.
A good source to view your current vote value is the earlier mentioned https://Steemnow.com.
Most of your article is correct, but not a key feature. A full-weight vote takes up 2% of your remaining voting power. For example, if you have 50% voting power left, the next vote costs you .98 x 50 is 1%, having 49% left. That means between 80 - 100% you can do 11 full-weight votes, between 60 - 80% you can do 14, between 40 - 60% you can do 20, etc. Total votes until reduction is thereby around 100.
Good addition and detailing. I didn't want it make it too complex though. I gave your comment a higher vote so it is in the top of the comment feed for everybody to see this comment.
This post received a 3.1% upvote from @randowhale thanks to @ericwoelk! For more information, click here!
Can someone explain what is a whale? Is it some kind of bot? thanks.
Thanks for this, I've been wondering what has been making the numbers change..
Resteemed!
Thank you
Thanks @edje, it gave me a lot of insight what happened hf19 because even i saw voting is more powerful and at the same time, our vote becomes so value that it is hard to get someone else to vote you. And thank you as i saw the payout decrease overtime and i wonder why as well :)
Glad I could answer some of your questions.
I had many questions as well and this article explains all details so well that I even understand it 😝
Its good to explain why this is happening. I do think expressing vote value in USD is a poor choice, only 7% of the worlds population live in the USA.
Vote power uses 2% of REMAINING vote power, so after 50 votes you will have 36.42% vote power, its likely you will never run out entirely, as vote power recharges at 0.83% per hour and you can only vote every 3 seconds.
Go to steemd.com/@edje note your vote power %, then upvote 100%, reload steemd.com and see what happens.
You are correct with the 2% reduction for each full power vote. I didn't want my post to become more complex by explaining this. Your comment is high up in the comment feed for others to see. Thank you for the further clarifications.
Yeah I totally respect trying to make it simple, thanks. Self upvoted, solely to push it up a bit higher.
Cool! :)
Good post, this helps explain some of what is going on with the voting changing in value. It will be great for the people who have no idea. Although, there many other influences (I think) that can affect the value of the each person's vote! I guess we will see how it keeps changing as time goes on.
There are indeed more aspects that influence the vote power, but the ones I mentioned are the main ones and explains the biggest influencers. Thank you for reading and your comment.
There are so many factors in vote power - who else is voting, the reward curve, voting strength, Steem price fluctuations... it can make my head spin sometimes. Thanks for elucidating the topic.
Yep, your are touching some stuff I didn't mention. For the curation rewards to a individual, the vote order is important. The earlier you vote the higher the percentage of the total curation reward to the post will be. But then there is also the first 30 minutes after post where part of the curation/vote rewards goes to the author of the post. But that is for now far to complex to explain. Need a couple more posts for that.
Thank you just as i start wondering why something is happening and there is no real place to go for information some posts a post with a answer Great explanation
Good explanation. Resteeming this to 8700+ followers.
Fantastic article and finally well deserved rewards and votes
Thank you! And indeed. I'm glad this article gets noticed, it is about important topics to the community.
Thnx alot for good and easy to understand explanation.