Historical rates for VESTS and STEEM

fknmayhem (70) 7 years ago

Accountants all over the world will you love you for this, @jesta. The tax man may like a detailed list slightly less tho.

$4.78

5 votes

steemreports (64) 7 years ago (edited)

Thanks, it's useful to see this! The data seems to be surprisingly variable though. Here's the last 3 months worth of data, and it shows a clear weekly pattern (some but not all of the time).

Is it that I don't properly understand the Steem mechanics that are causing this, or are the weekly dips a data problem?

$2.04

10 votes

jesta (71) 7 years ago

I'm taking a shot in the dark here - but I'll bet there's a large account that's powering down on that date that's swinging the average. It might even be someone still powering down on the old 102 (?) week powerdown schedule?

You're right though, that's interesting. I wasn't looking for this data for trend patterns (thus no chart), it was meant to be more of a lookup table for those who are dealing with EOY tax processes.

$0.15

steemreports (64) 7 years ago

Interesting theory, but if that were the case we'd surely see more variability in the other days of the week too. I can't quite understand how power-down events affect this rate anyway? Perhaps the mechanics of the 102 week power-down are different in some way? In any case, if this data is valid, then some days are slightly better for powering down than others, which seems quite strange.

I have assumed linear interpolation between certain time points for the steemreports financial tools, so wanted to see how accurate that was, and this has confused me a bit! ;)

$0.00

jesta (71) 7 years ago

Well, VESTS are just a representation of your ownership over the total_vesting_fund_steem, so when the vesting fund takes a massive hit (from a large powerdown), it's bound to affect the overall value of each VEST in some way. You'd think it would be proportional and wouldn't impact it - but maybe there's something strange happening here.

I don't have a great answer, but due to the fact that it seems to be once a week (which correlates to a power down), it leads me to believe they're somehow related. Either that or someone is manually doing something else (powering up?) once a week like clockwork :)

$0.16

steemreports (64) 7 years ago

Right, yes, it makes some sense to me, and the pattern fits the hypothesis. I'll have to think about it more though. Thanks.

$0.00

hms818 (61) 7 years ago

Really excited to see the historical data, Thanks @jesta for sharing!

$0.96

hpauric (35) 7 years ago

That's really useful, thanks!
For those who are interested, here's a chart outlining the trend over time.
Steem Per Million VESTS steadily increased during 2016. Since December 2016 it has only increased around 10 Steem Per Million VESTS (from 475 to 485).

$0.93

4 votes

thedubliner (28) 7 years ago

Thanks for making this graph, very useful 👍

$0.06

morseke1 (49) 7 years ago

This graph is what was missing from jester's post. Thank you.

$0.06

happychau123 (53) 7 years ago

But what's the insight :)?

$0.31

dali.soh (50) 7 years ago

Don't get it. So what's the conclusion and insights of the historical data? It seems to me that the values are increasing over time. Is there anything special from the data?

$0.14

retiredinsamar (56) 7 years ago

I don't get it also. It's nearly linear in scope and that's what one would expect to see. What good is this information?

$0.09

jesta (71) 7 years ago

Responded above as well, but incase you missed it: it's a good reference for those who are trying to determine tax obligations. Many rewards on the blockchain are only historically recorded in VESTS.

$0.08

jesta (71) 7 years ago

There isn't any conclusions or insights that I'm providing, this information is needed if you're trying to figure out tax obligations for your previous earnings. When you look at a curation reward from April 2017 and it says "379.391059 VESTS", you can then use this data to figure out how much SP that was at the time, and thus how much value that was.

$0.04