Steemit ripped me off
Ok,
iv'e kinda had enough of this steemit platform and now im not happy at all. My latest post was 90SBD at the maturity date yet my payment was only the following 35.824 SBD and 32.350 STEEM this adds up to 68.174SBD and Steem combined, so i'm missing 21.8 (aprox) in payment?
the value of SBD is currently 0.85 against the USD, but i am still down this 21.8 in SDB. i know a number of you will have some kind of variety of answers for me , but the math just doesn't add up. Im missing money.
Also if i choose to power down i have to wait 2 years to get paid a total of 267 SBD which is my total? this is rediculous.
any respectable and decent suggestions as to where the difference of my money is and how to redeem my steem quicker will be appreciated. This platform sucks.
HI folks and thanks for you responses, the loss in payments has not happened before only this time. while the value of my posts always decrease over the week which is not always related to the float value of the crypto currency steem or SBD in either case, i just find this site to be getting pumped by the same few who always make hundreds while the rest barely get a few bucks or cents for their efforts.
As more people come it will onmly get more disappointing and the site will eventually just be a facebook for self pumpers, rather than any decent value content being shared, which is why i think one of the creators of this site has already bailed and joined another company, but that's just my opinion. I mean there is no real way to contact any administrator with issues etc, just a fake peer based platform, that supports 'whales' or what i call pumpers, buying fans and favoritism and then posting total garbage.
Its become a speedy letdown, so if it really is 12 weeks to receive my cash and power down then so be it. Its a shame but steemit has just become a big stinky cleveland steamer!
thanks for the replies.
A part of what you earn in SD gets transferred to the curators who upvoted your content.
I believe its 60-40 ratio. 60 being Steem and Steem Power where the 40 is distributed to your curators.
Actually the ratio is:
75% (50% Steem/50% Steem Power). The steem power is a long term investment (2 years) which includes interest on your Steem Power. Steem power is useful for many reasons, which includes influence for your own posts (if upvoted), and for you to influence earnings on other peoples posts/comments. It "shares the wealth" if you engage with your community. You still have your steem, but there is no guarantee if your earnings will be the same (given market fluctuations).
25% Curators: those who used their steem power status to influence your earnings.
Quite simply if you earn 4$ at final point you can trust you officially earned 1.5$ worth of Steem (give or take) right then and there. Steem power helps the system flow so that users do not abuse upvotes.
^this. Curators and commenters get a portion of the post rewards. That accounts for the difference.
I'll explain your issue first, and then explain some more confusion from the other comments.
STEEM is way up in the markets the last 24 hours or so - up 40%!
That makes 1 steem = $1.50 -ish. So 45 steem is not equal to 45 usd anymore, it's more like 30 usd, because the money you earned came before the rise in market value, and I think the money is static for the first 7 days until payout. your 32 steem is actually about 48USD right now, which seems correct.
So in reality your 68.174 is SBD is more like 90USD, but with the missing rest - 25% (Though I'm obviously not being accurate with my maths) going to the curators. That's why people curate. It's why whales curate more than post because for them, with such huge steem power, curating is more valuable than writing because they get the majority of that 25% each time.
Basically you just need to not expect the income that you initially see, so your expectation isn't destroyed.
And secondly, 2 years is incorrect! It used to be two years, but one of the Hard Forks changed it to 12 weeks. 1/12th of your money each week. This is very reasonable to prevent people from doing 'pump and dump', or hit and run, or any manner of scams. For example whales that invested early and bought a lot when cheap can't simply run away, and it doesn't cause mass financial panic in the markets.
hi and thanks for your reply, the one mistake you made is that steem and SBD are not separate, we are paid in SBD, some is portioned to steem and put in steem power. The SBD is worth 0.85$ USD so our Steem dollars are currently worth far less than steem which is up, but the SBD is way down, so our direct earning in SBD is worth less than steem so it encourages people to convert their SBD to Steem to keep it in the system rather than have people payed out.
Some things i have noticed is that the value of what i get from a post always decreases over the 7 day period and i have found that is not releated to the value of SBD or Steem. For instance my last post was $103 SBD, by the end of the 7 day period it finished on 90SBD. thats a loss of 13$ as the post became less read and less popular. Meanwhile there are the usual few who always get 500$ + for every post and it never goes down, funny huh?
anyway, i think there is some kind of scamming going on here for sure. I find that even though i get so many people saying my posts are great and i get best writer awards etc, it never goes anywhere and most of my posts and many others can barely get more than a few bucks or even cents if lucky. But the same pumpers always get the same value for their posts which are usually garbage, they just buy their followers, buy a load of steem to pump themselves and stay at the top while the majority scrounge and get nothing.
I think this is bullshit, and im not gonna really waste anymore time on it, considering most of my posts take a few hours to put together, so nah. I vote steemit as a big brown cleveland steamer and not much more.
but thanks for the response.
So im and fin
Suit yourself, I'll enjoy my thousands of dollars ^__^
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