How To Steemit 101: 'How Steemit Pay-Out Works'
Hi steemit friends, the purpose of this post is to answer common questions newbies always ask. They've ask a lot, like in discord's channel or commenting in authors page. So, I will try my best to answer it as I personally interpret it. All opinions of other authors are welcome to comment down below.
In my last topic, 'How To Steemit 101: 'How Steemit Upvote Works' we talked about how upvote works.
![Upvote.png](https://steemitimages.com/640x0/https://res.cloudinary.com/hpiynhbhq/image/upload/v1515121850/lmpwahttk9ok0ljkcc5u.png)
So, How Does Steemit Pay-Out Works?
Basically, it corresponds also on how "UPVOTE" you've earned during the process. For every author that upvoted your post, a certain value will show and after 7 days "Halving" will take place. The "halving" is necessary as to plow back the rewards pool and also divided to curators.
How And What are they and how it works??
For every time we create a new post, Pay-Out options is notice here. Default (50% / 50%), Power Up 100%, at Decline Payout. What are they?
On 50/50 contribution, tells you that, it will distributed on both STEEM Power (SP) and Steem Dollars (SBD). The halving will give you SP for rank up and will increase your upvote power and SBD as monetary income from your posts.
STEEM Power - or in short SP is equivalent withSTEEM. However, SP indicates how much influence you posses in the community.
Steem Dollars - or we call it SBD is a secondary currency on Steemit.com like STEEM. As per SBD is equal to or approximately $1.00 in USD.
Steem Power or Power Up
Is an indicator that you allow, all of your payouts will be converted to STEEM POWER thus increasing your SP the same time. Again, the more SP you have, the higher your "reputation" and "value" for each upvote. It increases your strength in voting and the amount of halving curation you earn each pay day (on the 7th). I'm still exploring "POWER DOWN" of what are the affecting issues on your account and to others.
Declining Payout
Who will decline a payout? There are authors who actually wanted not to earn with their posts. It is beneficial since it will go back to the "rewards pool". It will still show how much the post has earn however the system will not pay you. This is a good gesture. It really help steemit economy thus by doing this you're in charity (peace).
Either of the three options, it will still pays you after 7 days. Halving still take place as the rewards goes back to the pool and some for curations. As I comment in my past post, it is good to invest in SP. It will give you returns and even good, active followers (they like big votes).
So, Let Breakdown The Payout
As I mentioned earlier, after 7 days, halving will take place. This halving shows you, your potential income plus dividends of curators. Now, It is approximately 75% yours and almost 25% to curators.
Now, where's the halving here? The system will take half of your 75% payout and it will go back to rewards pool. You'll notice that post generate $16.82 and it was paid today. Then before I redeem it, halving took place.
Is Halving Bad?
It's not! It's actually healthy to our community and also it helps our "reward pool" and steem value in general.
You will see your payout in "WALLET" tab like this.
And when you click "REDEEM" it will transfer in-real-time the amount said to your SP and SBD.
I really hope that somehow, I imparted a learning here. You may correct me as you leave your message below. This initiative is to help fellow newbie here in the community thus it also reminds us that this platform is not only a monetary machine but also a community that needs HELP, AWARENESS and LOVE.
Until the next posts! Thank you and God bless!
Honestly, I didn't know that half of the 75% Author reward goes to reward pools. I thought all goes to author!!
Everyday learning new things. Thumb up.
I sometimes notice that it's not. hehehe
I'm still open for corrections though :P
Half never goes to rewards pool. If you decline....nothing comes from the rewards pool. If you 50/50 then half the value is paid in SBD. Half in Steem.
But it is behaving funny(and in our favor right now since SBD is worth more than $1).
HERE IS MY POST ABOUT IT
cool info sir @dante01. I did not know that :D
Good thing I saw this post as I was thinking of ways to optimize my Steem Power. I'll probably try 100% power up too. Thanks!
I really hope that it will help well. I'm still open with corrections since this thought is only what I've understood. God bless!
Thanks dante,
Yeah it is a little confusing. I am still learning the ropes. It truly is one of those things that is absorbed over time. Some day ( just like other older members here) we will have this stuff ingrained in our heads to an extent that we will NOT have to even think about it. That's how learning works. And usually the things that are really worthwhile take some time in that regard :)
P.S. I am Following you now ;)
It will be a good things to know especially by newbies. Good work.
Thanks a lot @edhimuryanto. bless you!
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Thank you for your post it helped me to understand steem alittle better
Thank a lot for appreciating this.
Thanks
Please upvote my blog too
be good in writing @yakov-1127 and don't ask for upvote please it is not good to ask for an upvote.
Show it to your post. Make great post and the value will take place.
Good luck
You got a 0.31% upvote from @upme requested by: @dante01.
Send at least 1.5 SBD to @upme with a post link in the memo field to receive upvote next round.
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This post has received gratitude of 0.85 % from @appreciator thanks to: @dante01.
The #steemgigs tag should be reserved for parts about freelancing.
Oh ok..... Been using that tags since birth of it and honestly only you, for the first time, informed me about that. Thanks
Well I know that's not true, because it's been around two or three months longer than you have. what did you think it was for? I'm just curious because I've been trying very hard for months to keep it true to it's purpose.
Steemgigs as I remembered started on Oct. Since then all of my post regarding tutorials, articles and some petty composition... I honestly tagged #steemgigs.
Just few minutes back, I browsed again and SAW #untalented tag in which and otherwise alternative to contribute in the community....
that's why I said "only you, for the first time"... It was a harmless statement and I was shocked that I'm doing wrong ever since... but then again.... nobody told me so.
@steemgigs was created back in April. As a freelancing marketplace, nothing more.
If it was on April... there's really something wrong.... the information was not clear.... hence, maybe it was not implemented well or the participants were not spreading the info...
And even as we browsed over #steemgigs, we can see tons of posts without any connection about freelance but then they tag #steemgigs.... (correct me if i'm wrong here)
Yes, the tag is being spammed VERY heavily. I'm trying my best to educate.
The first impression of all who used the tag is the same with me... plain contribution since it was recognize as "community" we (I particular) felt that I'm inside of a community, a second home to call with or creating new friends to know and diversity.
Yes, the first impression of everyone who didn't care to learn what the tag was for. People who are being recruited by @surpassinggoogle are seeing that he created the tag, and that's all they care about. The tag is being spammed by tons of people who are looking for easy upvotes from Terry, and it's disrespectful. Anyone who posts on that tag thinking they're going to get a bit more attention is stomping all over something that he created...
Then it must be prioritize.... And still even posts of our friend Terry have no content of information about that tag.... and yes people will spam that since ( as generous as he really is ) they abuse.....
Sir @thatsweeneyguy..... I'm sorry if I'm with them.... contributing headachesssss hahhahah.. But it was honest in my side explaining things what I knew about that tag.... Please accept my sincere apology....
If there's anything that I can contribute to this matter, I'll be glad to help you.
God speed!
I very much appreciate you removing the tag, and I completely agree that Terry is not explaining the initiative very well, or recognizing those of us who are trying every single day to keep it true to what he created...
Like I said it was a honest mistake. The tag was really misunderstood...
I think, since the tag is already there and it really creates good pool... maybe proper dissemination of information, to educate well the audience...
All ears are with Terry, maybe... just maybe... if he will divert all the attention to properly introduce the tag... it might be beneficial to all... just saying :)