1 MILLION STEEM IN THE REWARDS POOL!?!? | Where We Go From Here
Hey Everyone!! I know you've been enjoying this inflated rewards pool as much as I have!! We've seen payouts rise well over 40% in the past several days. It's been incredible to see the pool fill up with so much STEEM.
The rewards pool is filled with almost 300k more STEEM than it usually is, which is simply incredible. It's so cool to watch this unfold.
I was watching the rewards pool last night with a close eye for 2 main reasons:
- We were bound to hit 1 million STEEM
- The rewards pool was also bound to start an immediate reversal right after hitting 1 million STEEM
As you can see from this picture, we got to 1 million STEEM in the pool!
But as I said in point 2, the rewards pool was bound to start reversing. You can see in this next picture that the rewards pool is ~5,000 STEEM less (taken a few hours AFTER the one above):
So what does this all mean?
The rewards pool inflated significantly due to the decreased activity on the blockchain directly after HF20. People couldn't post for 1 day and then for 5 days following that, they could upvote (because voting power was reset).
So there was almost an entire payout period (7 days) that went by without anybody being able to earn rewards. This caused the pool of STEEM to build and build and build.
It built itself to 1 million STEEM, but 7 days from yesterday was when people were able to start posting and earning rewards again.
Thus, people are now claiming their rewards out of the inflated rewards pool and it's causing the pool to deflate back towards its equilibrium.
While it would be amazing (and I would certainly love it) if the pool remained inflated, it simply is going to return to that equilibrium over the next few days.
It's been a wild ride, but fun to experience. I hope you all enjoyed a nice little bonus check from the Steem blockchain!! I sure did!
I am not a computer programmer by ANY means lol so I really appreciate you taking the time to write about this and put it into layman's terms. I makes so much sense now. I'm sad that it'll be deflating though but it was nice while it lasted :)
Lol, I know the feeling!! It can be a tough world out here for those of us who don't know much about computers and coding (myself included). I'm glad this made sense to you! I know it helped me to just write down my thoughts so they weren't jumbled in my brain.
Yeah I wish we could keep this inflated pool around, it would be so nice! I'm just thinking of it as a little bonus check for sticking around after HF20 😂
Haha awesome! They say that teaching is always the best form of learning! I'm surprised you're not a techie! You did so well explaining this!
Myself and @entrepreneur916 are the creators of @thundercurator and us not being techies we didn't realize how much the HF20 would entail. Well... We made the mistake of completely changing our service a day before the HF and leased STEEM but had NOTHING to upvote lol. So we just started self voting in hopes to recover some of the lease cost lol. So I think we all deserved this little inflation for our loyalty after that mess lol!
Haha exactly :) Thank you, I do my best! I'm passionate about learning this stuff, so while it's time-consuming to try and distill what's actually going on, I find it incredibly rewarding!!
Ahh I see. I considered leasing a delegation from blocktrades because of their post HF20 sale (is that where you got yours?), but the math didn't really add up for me.
Timing can be unfortunate, but hopefully the inflation helped you recover a bit! That seems like a really cool project by the way, I'm going to read up on what you're up to over there! I'm kind of a data nerd so I've been doing some math on curation since HF20 and I'm impressed with where it's going. I'm sure you're noticing some of the benefits of the changes to curation!!
Absolutely, the feeling of accomplishment in such a technical application is second to none.
We've done our leasing through @neoxian. He's an incredible person and has always worked with us as we've grown and developed so we've stayed loyal to him. He's awesome!
We'd absolutely love if you checked it out! And if you're interested we have a promo going on for a 100% upvote for writing an article about our service if you feel inclined to do so. Also being that you have a solid grasp on Steem if you have any advice or ideas for improvement I'd love your feedback!
Sorry, I didn't see this right away!!
Ahh yes, I've seen those loans floating around. I love how neoxian has their system set up! I'm glad to hear that it's working so well for you!
I will totally check it out, I see 1 post about it in your feed, is there a sort of "guide" post in particular that you recommend I read about it?
I'm full of ideas about Steem lol, I practically live on here!!! If you have any questions any time, fire away!
No worries! We're all pretty busy here haha.
Yea he's a good dude, super smart.
So there's a couple... My simple overview of it is HERE and then the full detailed guide is HERE Let me know if you have any questions and what you think of it!
You jinxed it. lol
I thought it was going to keep going up. I guess some users figured out the new curation.
Lol more money more problems! So more rewards to go around to reward those of us who stuck around and didn’t jump ship and sell off like many did after a few days of the HF issues! Also isn’t the decrease in spamming and the new curation rules also helping fill up the reward pool?
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Lol! Exactly, life always has a funny way of rewarding those who are consistent through even the toughest times. I think that the decrease in spamming may have a small impact, but I don't think that it's a very large one. Most of the spammers had little SP and thus, little influence over the rewards pool.
The curation rewards on the other hand probably have a decent impact on the pool. Nothing too crazy, but I'd suspect a few % points could be attributed to that. Most people are getting smart and voting after a post is 15 minutes old, but there are still some smaller accounts who vote before that.
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