Looking for some clarification on how this element of Steem Power works please folks
Ok so I know I could probably find the answer to this somewhere if I looked hard enough, but it's been a long day at work and I simply can't be bothered.
So I'm hoping someone will come to me with an answer.
^^^^^ My question concerns the sentence above: "The more one holds the more one can influence other's rewards and earn rewards for 'voting accurately'"
I get the concept of the 'weight' that your Steem power has and the influence you can exert by voting etc.
But can anyone explain what "voting accurately" actually means?
I don't quite understand how if you're someone with a lot of Steem power and influence you have to vote in a certain way to get rewarded.
How is this measured? What are the parameters? And how is it controlled? Is this the 'curating' I've seen referenced here and there?
How does the everyday user who has no Steem power like myself get rewarded?
I'm sure there's a logical explanation to this I can't figure out so if someone who's knowledgable about how this site works wants to explain it to me that would be swell.
I'm not actually intending to buy any Steem power, I came across this just exploring things trying to get a better understanding of how this works.
Voting accurately refers to: The earlier you vote on a post, that becomes popular later, with many votes, the more you earn. For example, if you were the first to vote on a post but no one else ever voted on it, you might earn $0.10, whereas if you voted first on a post that many people voted on afterwards driving the price up, you might earn $10. Because you are limited in voting power to roughly 20 - 40 votes per day, the "accuracy" refers to picking the best ones.
So you will always make a small amount for voting --this is the benefit of having Steem Power--, but in order to maximize your earnings into a larger amount, you will have to find good/popular content earlier than others do.
This is all contingent on the amount of Steem Power you have of course. If you have very little Steem Power, trying to earn from voting is mostly a waste of time.
Hope that helps. : )
Hey thanks for the explanation, that makes sense.
HOLY SH*T that Steem power of yours is impressive/ridiculous.
Iv'e gotta ask,
How is it that you've managed to reach that level of influence? Any tips you can give me? ;)
If you want a good insight into steem I would check out the video in my post - https://steemit.com/steemit/@willytothej/christian-lains-talks-about-steemit-the-idea-processes-and-philosophy