How Steemit payouts are calculated. Follow up to yesterdays post.
I know there's been quite a few questions regarding exactly how Steemit payouts are calculated within the community, and since HF 19's incredible release last Tuesday, we've enjoyed a dramatic increase in our voting power. This has been a lot of fun, turning this last week into votapalooza. I'm still not sure I'm fully recovered, my upvote finger might never be the same.
But we've all seen the pending payouts drop over the course of the last week and weren't exactly sure why. I touched on this last night, and it all seemed very logical, but I wasn't quite sure and decided to keep digging. Once I start down a road I have a helluva tough time getting off until it ends. That can be good or bad I guess, but i guess it explains why I'm still a Browns fan. Yes, those Browns. I can feel you laughing at me right now, :( so let's move on. :)
There's an incredible site called steemnow.com. It's similar to steemd, but much more personalized. I noticed something there today that I'd never seen before. If you go to the far upper right hand corner you'll see a number. It says, "$1.79"
If you click on the "$1.79" it opens up a box.
The box says "The average Steem price, being used to calculate payouts."
So it does appear that Steem payouts are directly tied to the average price of Steem, which makes perfect sense. We've had a correction this last week in the crypto market which has brought the price of Steem down, hence also bringing down potential author rewards payouts.
I hope this explains the matter. Thank you for stopping by, have a great day and keep on Steeming!
Useful Websites for Steemit Newcomers
https://steemd.com
https://Steemnow.com
https://steemdollar.com
https://steemwhales.com
Someone was asking me this the other day. They said their wallet appeared to have lost value. I thought it may be due to the price fluctuations and this has confirmed my suspicion. Thanks for the info @orionschariot and even though you're a Browns fan, I will continue to be a follower to your blog. LoL :p
Thank you! Steemit is incredible in every way, but it can be a steep learning curve in learning the nuances. This is going to be the Browns year!! I say this every year until week 4, then it's on to next year, lol. :) Have a great day!
Thanks for your persistance to get to the bottom of things and sharing your findings orionschariot!
Very welcome. Thanks for the comment!
I think you should notice this link that's now linked on the top of steemnow.com that @penguinpablo has posted. It goes in more depth about what else influences the payouts and why they are going down. It's safe to say that the price of Steem is only one factor leading to that.