SteemIt curation rewards strategy for beginners
DISCLAIMER: there might be errors in this article, do your own due diligence and verify the information.
What are curation rewards?
A reward you receive when you vote on a post. At least 50% of the rewards always go to the author, the other 50% is divided between the author, the curators and the commenters. Curation rewards are paid out 100% in STEEM POWER, which increases the power of your up-votes, so you help the content creators and yourself!
What does it cost to vote?
Nothing except your time.
So then i can just vote 24 hours a day and get rich?
Nope, there's something called voting power, which decreases your curation rewards every vote (although it seems to be every 5 votes for me currently). Apparently it's beneficial to vote at least 20 times a day.
Voting Power regenerates at a fixed rate over 5 days.
Posting Reward curve is now R2 + 2RS rather than R2 and a relatively small value of S was chosen.
So what's the best strategy then?
There's one more extremely important factor:
If you vote immediately after a post is made, then 99.94% of the curation reward will go to the author. If you vote after 15 minutes, then 50% will go to the author. Any votes made 30 minutes or later 100% will go to the curator.
The ideal situation for maximum rewards is voting on a post that is at least 30 minutes old, has only 1 vote from the content creator and ends up making $50,000. Unfortunately that happens very rarely. To receive the best rewards, you have to assess the quality of the post and monitor the amount of voters that came in in the first few minutes. If there are a lot of votes in the first few minutes you might want to get in way earlier than at the 30 minutes mark. It's all trial and error what works best for you.
Also keep an eye on your voting power by visiting http://www.steemd.com/@username where username should be replaced with your username. The farther it is away from 100%, the faster it regenerated, but it always takes 5 whole days to regenerate completely to 100%.
Sources:
steem-0-8-0-released
Whitepaper
CAUTION: The information in this article is outdated!
For the updated version read Curation rewards explained in great detail.
thanks
thanks alot
Thank you, @calamus056
SteemFollower is a great way to increase your rewards. https://steemfollower.com/?r=4009
I just got 0.50 SBD upvotes for voting on few posts. Note: the password it asks you to use is not your main password, it is your posting key.
I didn't know that it takes 5 days to recharge, thanks for the info. I tough it only took one day, but it seemed way too slow for me. Now I know why.
I didn't even know that your voting power goes down until I read on how curating works lol.
This is a great post, just checked my power is at 93% and this post is 1 hour old. Hopefully my upvote will bring in plenty curation points. Now I'm off to tweet about it! Thanks for the tips mate, appreciated.
My Strategy:
-10 Votes and 10 Comments on Posts of Non-Followers
-Read/Watch at Least 2 Instructional/Informational Articles or Videos
-Comment on at Least 3 Follower Posts a Day (this will likely be more like 10)
-Enter 2 Contests a Day
-Publish a Unique and Valuable Post Every 2 Days (will try for every day though)
Thanks helped me to get started.
Thanks for such a helpful post. Can you let me know how to increase my voting power and what are the earning on comments?
Oy, the learning curve just got that much bigger for this newbie. I just heard about the 20 vote thing. I've checked out my steemd profile (it's still Greek to me) but I've got my favorites that I'm following and commenting on - and I'm sticking to writing for now. Thank you for this information. It's very helpful...even if I feel like a Bo-Bo
I followed you. Plz check my posts and upvote them and kindly follow me as i am new on steemit and i need your support as a beginner. Thanks in advance :)
Thank you for this great information.
"If there are a lot of votes in the first few minutes you might want to get in way earlier than at the 30 minutes mark. It's all trial and error what works best for you."
What's the exact calculation method? The algorithm, you might say. Votes in the first half hour are divided between voters and author. OK. But how? Votes cast after the first half hour go only to voters. OK. But how? Looks like earlier voters (but AFTER the first half hour) would get a bigger share. But how, exactly? Perhaps you can comment on this, tell me where to read about it.
Interesting, I'll have to start putting together a strategy that works for me. After being on the website a few days I've already made a few mistakes and haven't earned any curation rewards. I am trying to only up-vote quality content.
I followed you. Plz check my posts and upvote them and kindly follow me as i am new on steemit and i need your support as a beginner. Thanks in advance :)