How Much is Your Post Worth? [A Steemit Rewards Guide]
Breaking Down the Rewards
Let's talk about how much your post is worth! There are always a number of moving parts when it comes to calculating the true dollar value of a blog post. As we’ve gone over in our previous wallet post, there are actually 2 different cryptocurrencies on Steemit that you can through by creating content, commenting and upvoting.
So okay, how much is my post worth?
Each post and each comment is "paid out" after a 7 day window. When you receive a payout, you are actually receiving around 75% - 80% of the post amount. Why is this? Because the people who have upvoted your post receive rewards too! These supporters of yours are called "curators" and the remaining 20% - 25% is split among them in proportion to how much strength they put towards your post. If you're curious, you can learn more about curation rewards, by clicking here.
So in this example (below), it's finally been 7 days and you've received your post reward! Your blog post received $10.00 over the course of those 7 days. Follow along each step to learn how your earnings break down, and how to calculate the USD value of those rewards:
Look up the Market Value
By following the links below, you can discover the real-time market value of both Steem and SBD. The values of both cryptocurrencies change every second of every day. So the "real" value of your blog post is always moving, just as the markets do. (You might have already noticed that the value of your post fluctuates pretty often over a 7 day period.)
Steem | Steem Dollars (SBD) |
|---|---|
Understanding the Interface
The mechanics of post payouts are a lot to digest! So don't worry, there's a whole economy on display here, and that can be a lot to take in. Take your time with each step, and don't feel pressured to know every angle before blogging away.
Should Steemit Display Something Different?
The payout interface can be difficult to understand, especially for new users who still have to figure out how the wallet and the two different currencies work with one another. This is compounded with the fact that a post's ‘worth’ is demarcated by the USD symbol “$” rather than something native like Steem. Payout estimates do not take into account a scenario when 1 SBD is actually worth more than 1 USD. (1 SBD is currently worth $4.00 USD.) So what might be a solution? Should the interface display Steem plus SBD without any attempted conversion into USD?
Thanks for reading! We hope you found this Steemit Payout guide useful. Take a look at our full outline of resources below. If you have any questions please don’t hesitate to reach out in the comment section.
Blockchain | Basics | Markdown | Basics-2 | Wallet |
|---|---|---|---|---|
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Payouts | Witnesses | NoNo's | Curation | Reputation |
|---|---|---|---|---|
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Check out the Steemit FAQ page to learn more!
Love this post and i seriously think the $ needs to be reconsidered. If we have two currencies on here then why are we not viewing both on the post payout. This is one of the most critical and complicated things for new people to steem to understand and I believe it should be one of the first things to be addressed.
My vote would be to show post value in SBD and Steem depending on what selection was made.
Leave it up to the exchanges to put that into a $ value
yes right man
It took me weeks to understand how the Steem half was calculated. Yes, you can't really say that the post value is in SBD - it's really in a "token" with half the value in SBD and half the value in USD (that will get paid in Steem.)
I made a post on that here (with examples) that generated quite a bit of discussion: https://steemit.com/steemit/@theinsideout/i-finally-understand-50-50-steemit-author-rewards-and-so-can-you
The issue I see with steering away from the $ denomination is that it will be much trickier to get people outside of the cryptocurrency realm to join the platform. Those not familiar with crypto are eased into the community by knowing straight away what their post is worth it in the "real world." Of course, that amount should be fairly accurate to be meaningful.
Yes steem is part of the new economy, and crypto things have to take over, perhaps in an orderly way, so communities have more power than banks and oligarchs.
Agreed.... USD is far less useful to me than the CAD that is the going coin where I live, so it would he nice to have the option to switch between a variety of options.
Thank you @bitcoinflood! You've made some great points here. It would be worth exploring an interface option with Steem / SBD for 50%/50% and just Steem for 100% Power Ups.
I would find this much easier to follow. Would this approach also help me "see" whether SBD is worth more than SP when I post?
Agreed, it is a bit confusing for new Steemians like me.
Thanks for sharing this very important information. It still makes me cringe whenever I see a post at 100%. Don't they know they are throwing rewards away???
Resteemed this very important guide.
I guess I missed something in the post but why does 100% make you cringe? I'm assuming you mean 100% payout in SP, am I right?
Yes, because I feel bad for them that they are giving up a big part of their reward. In the example shown, their reward value at 100% was $7.50 USD. If they took 50/50, the total value was $18.75 USD. People are losing 60% of their potential reward value by posting at 100%.
When STEEM was at 3 and SBD was at $10... The same $10 post would be worth $7.50 at 100% and... $41.25 at 50/50, with people posting at 100% giving up more than 80% of their potential reward value!
Ah, I see. Thanks for the explanation.
Thanks for your support @josephsavage, it's important to spread awareness regarding the two options so people can make informed reward decisions!
ha ha ha funny comments sir...
Thanks for the post, but I am a bit confused with the last part of the graphic that says
divide $x by the market value of steem.Suppose the market value of steem is $4. If I am getting a 100% SP payout for a $10 post, then I will divide my author chunk ($7.50) by the market price of steem ($4) which is
7.50 / 4 = 1.875. So I make $1.875 if I choose to be paid out in SP?I believe that $7.50 number is correct for USD, and I would have 1.875 STEEM tokens. Am I confused or is the graphic backwards/confusing?
Good catch on the Steem Power part! Our language was a bit confusing, just updated it :)
Ooo glad I could help! Keep doing what you're doing I love all the stuff you're curating for us steemians!
I made my first "claim" of about $1.464 some 2days ago and i thought it was actually just that (as in dollar terms). Thank you for making me see that it's actually...
($1.464SBD X $4.22 = $6.17808).
Wow, that's amazing and much more awesome than i thought and shared in my recent post.
There's a lot more this community has got to offer...thanks for much value shared.
P.s. Hope my analysis is correct?
Yes, that's correct @tomset! :D
Yaaaaaay,💪 someone's gonna heat some steem down here! 😂😂
Oh boy!
Much thanks mate!👌
I'm resteeming this!
YASS. I thought the same as well, but this post really helped to clear that up.. Now does anyone know if there's a certain time we should wait to upvote to maximize gains on curation or does it not matter if I vote the first minute it was published or even 4 days after?
Hi, i think you'd need to read this post by @gmichelbkk
It explains everything about the best time to vote... cheers!
yet again I am saved from hours... ok minutes.. of worthless information scanning. Thanks for saving me some time. :)
You're most welcome mate!
Here's a visual! https://steemit.com/toolkit/@sndbox/earn-steem-by-upvoting-how-curation-rewards-work-on-steemit
From a visual learners perspective this is AWESOME! bookmarked!
The only reason I think they should keep it the same, is because the SBD was designed as a pegged container to be worth $1 USD worth of Steem. So the feeling is that one day it will fall back to its true value, or in fact just below it.
So perhaps that would cause confusion, though as I write it I think perhaps not.
Also I like the fact that people might get a nice surprise as they realise the dollar value is higher than they thought.
Hmm, it's got me thinking, very good points.
Cg
I definitely agree that the payout should be displayed differently (the only other option i see is Steem + SBD). I see the reasoning that people new to crypto may have better grasp of "how much they ACTUALLY receive", but unfortunately, most of the times the number showed there is off because SBD is hardly ever exactly at 1 dollar mark.
Also the price of crypto is so volatile that it really doesn’t matter how much are the tokens worth at the time of the payout. Before one manages to sell them (which is probably the only reason why one would prefer the “dollar display”) the price may be completely different (since there is no option how to sell right away from Steemit and other windows into the Blockchain). The outcome would be accurate display of incoming tokens without the need to use steem.supply or steemstats. Overall this should be a very easy change to implement.
Great points @fingersik. It's a tough call to make...Because using "$" makes it so familiar and easier to digest for newcomers, but if that $ amount is inaccurate, it makes learning more very difficult. Luckily though, it's inaccurate in a positive sense (because as long as SBD = more than $1, all posts are currently "worth" more than they lead on).
I think that you refuted yourself (or your vision in general) in this very sentence.
If I’m not mistaken you believe that Steem should support MAINLY long-term vision. If that is the case the newcomers should be greeted with actual numbers. If they saw those they would have much easier time learning "what is actually going on". That means it would be easier to "get informed" and thus make decision whether to stay committed or not. As you yourself said, the $ is inaccurate, which just confuses every single user at some point and that makes the learning phase MUCH MORE difficult which more often than not results in complete lack of knowledge (and it’s hard to stay committed when the system itself makes it hard for you to be digestible - user-friendliness is the key). So actually it only “seems” that the information is easier to digest – the information displayed is actually totally irrelevant.
But maybe I’m just tired and it still is a "tough call". I though am now rather convinced (also thanks to your post btw:D)
Thanks for the comment @fingersik!
By "$" familiarity - I meant that the "$" sign is more of a billboard for Steemit to attract new people. And you're absolutely right, if it's not functional that dangling carrot becomes less enticing. (Even if it's skewed in a positive direction.)
Oh now I understand exaclty what you meant and I have to agree! None the less I think that whether its skewed positively or negatively is irrelevant - though if it was skewed negatively it would probably piss people off and the demand for a change would be even bigger!
That is a very good explanation. Thank you for such an informing post.
its really informing indeed..... right?
Thank you for your support! Glad this illustration was helpful :)
This is actually a very clear and well comprehensible explanation on pay-outs! Will link to it when I meet fellow Steemians with questions about it.
Regarding replacing the $ sign: I wouldn't mind the little arrow pop-up/down next to the $ amount splitting the rewards in 1) curation 2) author SBD and 3) author SP, additional to the current text "Pending Payout $2.19 in 7 days".
Would be cool to be able to see what part of your 'earnings' will go where after 7 days! :-)
That would be neat @soyrose! What a great idea :) almost like a pop-up pie chart / infographic.
Yes! It would also create a bit more consciousness for both newbies and 'non-Steemians' who encounter posts on Steemit what the 'rewards' actually mean...
oops! this is great idea... so we'll know it straight..
Anyone that has no idea on how rewards are been shared should always check out your posts, so educative.
Thanks so much @xpency! Glad this walkthrough was useful :)
A very timely splendid post @sndbox! :)
May i use the image on "How much is my Steemit post worth?"
I will be having a small presentation about Steemit here in our office in Makati, Philippines a few hours from now. Rather than bewildering them with computations, i would love to just show it in my slides for a simpler explanation.
May i? :)
Hi @yukimaru, yes! Please feel free to use any of this material, just make sure you attribute it to @sndbox :)
Good luck with the presentation!
Thanks so much @sndbox, it will really make things simpler for the new and upcoming steemians here in the office. Will definitely update you on the success of the presentation, which is 3 hours from now. :)
Thanks and a blessed day to us all! :D