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RE: STEEMIT RANKS EXPLAINED|What Does it take to Move from One Rank to the Next?|Newbies&Minnows Guide

in #steem • 7 years ago

For example, if an account has 1M Vests and those are currently worth 500 STEEM

Are you implying that the value between Vests and Steem can change?

7 years ago in #steem by
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     7 years ago (edited)

    It probably would been better put "for example approximatly 1 million Mvests equal 500 steem power..." I can say from experence when i got 490 sp i had 1 Mvests. There is a complicated ,at least to me, formula that gives you precision with your actual Mvests amount in relation to steem.

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     7 years ago 

    I don't see where that implying comes in..

    In short, STEEM POWER is simply the amount of STEEM an account's VESTS are currently WORTH. For example, if an account has 1M Vests and those are currently worth 500 STEEM,then the account will show that it has 500 Steem Power.

    Please note mVESTS stands for a Million VESTS.

    The question then becomes - how much STEEM is each VEST worth?

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