Why do I receive 3,5 times less SteemPower for my Steemdollars? (Steem rewards)
Hello everyone,
My problem
After hours of searching the web I can not find the answer to my dilemma. My problem is as follows: " WHY AM I GETTING 3,5 TIMES LESS SP FOR MY SBD!?", to my opinion this is just ridiculous. The curator should get a maximum of 25% of the up-vote reward and the author should get the other 75% (check my explanation on the voting rewards here).
Luckily I do receive 75% of the up-vote reward, which gets divided in 50% SBD and 50% SP, but I do not get 50% in SP I actually get a lot less!
Calculations
My calculation is based on the following information:
Now the problem comes when you look at the other half which is suppose to be $4,85 SBD worth of SP. As you can see in the picture below Steem and SP are worth almost the same.
The difference between SBD and SP is 0,82 based on the rates of blocktrades, which is the transfer platform from Steemit.
Since the reward is split up into two EVEN half's I should get SP at a rate of 0,82, but that is definitely not what I am receiving. As you can see in the picture below I am actually getting 3,977-1,36=2,637 SP less.
Conclusion
As a new blogger on Steemit I am kind of disappointed to see this happening. It makes up-voting bots not profitable, so getting your blogs high up in the "trending" page is going to cost you a lot. If that is not enough I also feel lied to by Steemit. When I started blogging I chose the 50%/50% reward division option, but that not what I am receiving.
(Note: one reason for this phenomenon could be that Steemit wants SBD to be around the same as one dollar, but then they should change the ratings on Blocktrades aswell. Paying a transfer rate of 0,82 but receiving one of 0,28 seems unfair.)
Thank you all for reading and I would love to see your opinion in the comment section! (ooh and do not forget to up-vote)
Cryptoblogger (lets build Steemit together!)
Follow me:
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Check out my guide on Steemit rewards: https://steemit.com/cryptocurrency/@jean-paulc/how-do-steem-rewards-work
Those prices are USD so you see 3,5 times less because the current price of STEEM is 3,5 USD. Note that the system treats SBD equivalent to USD even though SBD is currently worth more.
Hello Slopebook,
Well that would make sense as well. Hmm I will look into it! If you are correct I will post and edit. I do think it is stupid if its based on dollar. First off the whole point of cryptocurrency should be to improve the way of the current payment options. Secondly investing in the platform whilst the market is growing is disadvantages .
Thanks you for your comment,
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From what I can tell, @steemit takes 25% as well, just like the other platforms. dtube, dmania, all them take 25% of the reward to host the platform.
Hello infamusfriend,
My conclusion right now, is that the amount shown is actually dollars instead of sbd. I know for sure that the rewards are divided into 25% curator rewards, and 75% author rewards. You can see my explanation on that by clicking on the link below.
Cryptoblogger (lets build Steemit together!)
Follow me:
https://steemit.com/@jean-paulc
Check out my guide on Steemit rewards: https://steemit.com/cryptocurrency/@jean-paulc/how-do-steem-rewards-work