The Steem release notes for 0.12.0 can be found here.
The Change
As of next Tuesday, a major change to payout scheduling will go into effect. The payout schedule refers to the payout that currently occurs 24 hours after the post is submitted. In this timeframe that your post has the ability to accumulate votes before it is frozen.
Below is the actual release notes for the payout schedule change:
Issue #177
Each discussion goes through a two stage payout. The first one is nearly identical to what currently happens on a new discussion except that we are weighting payout times by 12 hours instead of 24. This should cycle through currently trending content quicker. There is a second voting period set to 30 days after the first payout. This should help posts that don't have immediate viral success accumulate votes and have more consistent payouts in the long run. After the second payout a discussion becomes "frozen". The discussion is no longer editable and new replies are disabled. Users can still vote on comments in these discussions as a "nod" to the author without costing their posting power or awarding reward shares.
What does this mean for me?
Trending content will cycle quicker
The first major change to the payout schedule will be to the initial payout timing. This will be moved down from 24 hours to 12. This will hopefully increase the change of content hitting the trending page.
A second payout will be added 30 days after the first payout
This awesome addition will allow users who's posts were not initially noticed but became much more notable after the initial 12 hours to still obtain a payout. This may help many of the users who post in off-peak hours to still obtain the rewards for their hard work.
Voting after these two payouts will be enabled as a way to give a "nod" to the author
We've all been there. You search and find a great post that was exactly what you were looking for. Unfortunately you cant give the author the thanks they deserve. Well now all users will be able to still vote on comments for the post even after the post has been "Frozen" after the second payout. The best part is that no voting power is lost as part of the comment voting
Thanks for all the hard work guys and here's to another great release!
Check out my post on how the next release will reduce spam!
https://steemit.com/steemit/@hbhades/posting-reward-changes-and-you-read-and-be-aware
Great new update! Can't wait to see it in action!
Nice reading!
Check out new service i just released!
https://steemit.com/steemit/@cryptotony/steem-link-first-steemit-short-url-service-with-bunch-of-features
I thought I already voted and replied to this exact post... odd
@cryptotony Great Logo!! :D
Hope the service works out the way you want.
Keep it Clean!
TheCleanGame Blog Posts, Neatly Categorized
should be nice to add some view counter in next updates
True, hopes all like it.
This is way beyond wat i expect lol
Thank you for the information..
steemit increasingly leading
:)
How this post made $350 amazes me, what the hell
Great article!
Yeah it would be real nice to see some change of content in the trending/homepage. Personally I feel that they stay there for to long, with out getting any chance for other content to be seen.
I'm so happy about the changes. Looks like the devs are really active and fixing issues for the rest of us. :D
Maybe then I can get some feedback on my recipes!
Quick and simple. Thanks for laying it out nice and easy for us. Happy to see the secondary payout after 30 days!
Glad I could help. I know that many of the users on steem may not be used to github so i figured I would break down the change for everyone cruising the site :D
Brilliant idea! Until this, it's seemed as if any post older than a few days will tend to dwindle...I feel this would be a wonderful way to help the posts that don't immediately catch fire to gather more steem (see what did there??) over a bit more time. Makes it a bit more forgiving!
The best part is there is a 2nd additional payout after 30 days so the post will continue to have relevance!
If this makes thing better for everyone, i fully support ! Great article man, my upvote you got.
indeed man..full support from my side too if everyone get advantage from it !!
Good move! I'm happy to read that! Small improvement can make big step forward!
This sounds like a really good idea. I like what I am reading in this post. I had people point out things they posted to me tonight and they were both past the 24 hour period. I wanted to reward them but could not. Thanks for doing this.
Issue #176 I think is worth trying but it could be a bad idea in the long run. I guess I shouldn't be a naysayer before testing it out. My concern is that we talk about replacing reddit, facebook, etc in the long run here. Artificial posting penalties could be an issue for people who really like to share. Spam can be pretty subjective. I consider posting ads and the same post frequently to be Spam. I also don't benefit from a bunch of the same types of posts, but some people do. I can live within the limit though as that is kind of where I was trying to stay now anyway. Let's try it. We can always adapt and change again if it doesn't work out.
Don't you think that the timing of your post will become even more important with this change? Of course, I am referring to the 12 hours first payout change.
True but I think after a while your content gets buried under all the newer content and tends to get lost anyway.
True :) Except if your content stands out.
Personally, I don't think that time of posting is important. Steemit members come from all over the world and from all time zones.
Good to know. Thanks. Not an enormous fan of freezing content, personally. I think it loses out on lots of interesting possibilities with maintained content, like project pages, store fronts, etc.
I think that 30 days should be enough time to allow for modification of a blog post. I'm sure that there will be plenty of releases in the future that will continue to evolve how the platform works. Maybe someday we won't need frozen content.
Depends on the blog post. Most of my personal favorite threads on good forums or on reddit are always the ones that are well maintained and committed to for the long-term by a good author. Right now, that sort of content grooming isn't possible.
I guess the question is: Does SteemIt want to limit itself to simply being an advanced "blog" or is it going to be more of a universal content delivery system, which it is totally capable of becoming.
I agree that not being able to update my content after 30 days seems unreasonable. I like to keep my content up to date and relevant and renew dead links if needed. Also I can't comprehend why content should stop earning rewards after 30 days if it still provides value to new readers.
These changes are perfect if you're a virgin living in your moms basement and only have 4 friends. In that case I can see why you might want to only start topics with them in between CoD or WoW sessions.
Otherwise you are just asking everyone to take a financial penalty for being social on a social network.
If you don't like to read people's posts and think about what they are saying right now, you already have the power to ignore them, even downvote and flag them. Or just don't go to places you know they frequent.
Unfortunately with this change, in the future many people will ration their posting activity to only what will make the most money and use facebook, Reddit, twitter & slashdot for actual social commentary.
So expect a flood of quality posts like...
+1 ****** Excellent post! Upvoted you!
Because those will be the most lucrative and in the presence of penalties, the only rational choice is to ration posts to the ones that will make the most money.
So the whole site will become bots, in introduceyourself posting 4x daily the moment any whales surface to upvote the noob. Got it?
This is the beginning of the bot wars.
https://steemit.com/steemit/@williambanks/bot-warz-a-hybrid-approach
I like this... I constantly see value in old posts within the same 30 day timeframe that they are written..
I wrote a story warning google that didn't capture the attention I thought it would.. But if we had a 30 day window, I think a lot more people would have enjoyed it "if they saw it".
I think this is a good change.
Will votes accumulated within the first 30 days count toward the second payout? Or will people have to dig up month old content? I do think 24 hours was a bit too long so looking forward to seeing how these changes work!
I really like the new update and I am glad that the developer are thinking constantly to improve the system. Thanks for that dear Steemit Developers.
This demonstrates that the whales have worked out the current Steemit model is flawed. I'm sure there are people who have signed up, written some pretty good content and earned like 7 cents and given up on the site as a scam. Hopefully this addresses the disappointment that is evident among the community.
Hopefully this will help my science blog posts get more noticed. 😀
Great news :)
Awesome
Don't worry they are. This reduces the incentive for long term content and will cause the content to skew more towards whatever the hell is trending on twitter that day. No point in putting effort into content that might become relevant in the future if the only thing that will pay is talk about today's topics.
My question is...
So posts don't make money after 24 hours? Currently.
I actually will need to correct my post. It seems that posts currently have 2 payouts once each 24 hours.
More than 2 payouts. It's unlimited payouts but only every 24/hrs. The change will seem to put a limit of 30 days. It seems like a win if it means curators are rewarded for up to 30 days but it wouldn't be a win if the payouts are capped at 30 days for posts which become popular after 30 days.
Posts make money indefinitely but there is no incentive to vote for them after 24 hrs. After the change there will be a maximum of 30 days I think while right now it seems your posts can be voted for at any time in the future.
They need to be more clear though because I don't fully understand.
Awsome man I am psyched.
This website has turned me into a fanatic, i've never been so damn enthralled in my life :P and I love it!
They are good for steemit but wait they said liquidity rewards were to much ...WHAT?
https://steemit.com/steemit/@cultura.bitcoin/steem-liquidity-rewards-too-much-for-the-value-they-provide-developers-wrote
We have a market here. If you were a market maker you could make extra money just by keeping the market liquid to offset any losses you might take by buying high or selling cheap in order to keep the liquidity up.
They believe that these rewards are no longer necessary because of poloniex etc.
Update too for spam posting, or what I like to call, "masturposting", only 4 posts will be allowed every 24 hours before penalties start coming into play. I'm pretty happy with the changes in the new fork!
Now everybody have an equal or fair chance to get their deserving votes! GREAT CHANGE!
Great, hope this would be good.
This is maby something we need? Who knows but lets hope it help :)
Wow, I didn't expect this to happen. I genuinely think this update is going to be great, I can't wait for it! Thanks for sharing it.
This really is a great news! Finally the Steem team gives a "nod" to new users who don't have enough Steem power, (you know, the minnows and other small fish :P)
Love the monthly cycle, feels a lot more natural that way!
Great , looking forward to this being implemented.
Great post, thanks for the update. You're right, this should make the whole process more efficient; it is a little monotonous seeing the same high grossing posts at the top of the "trending" list for what seems like forever. A little soul destroying too if it isn't one of your own posts!!
Bravo Steem---"we are the people"
Thank again!!
I think this is going to help a lot of people! Specially the 30 days payout!! So EXCITED :D
It will be interesting how this really effects on the top results.... in general a good step of course but will that not result into even more boosting of "viral" content?
I hope theyll change it to 1 week than 1 month. But nevertheless, it wont do so much improvement for the 2nd payout as those posts will be less remembered as 30days is on going. So 2nd payout will be much less than the 1st.
Good change, and hopefully many more to come! Go Steemit!
Good news! It can definitely help for the visibility of non-whale upvoted posts !
Another hardfork coming! Thanks for the update!
"This hardfork is scheduled for 2017-07-26T15:00:00 UTC (11:00:00 EDT)."
You mentioned peak time to post. I wonder which country and time zone has the most posts and what the ratio is for peak of posting vs peak of voting. Ideally you'd have fewer posts so people could upvote your new content, but also have enough whales to help you out. I bet peak also changes per topic.
But after the 30 days the author cannot get rewarded right?
Yes, there are no longer rewards issued after the final payout at 30 days.
Nice
Definitely good news! This will do wonders for fresh content and quality work getting noticed.
Nothing will change as long as trending authors are trending just because a whale has sent them a gift from god in 1k worth of an upvote. The top trending post now is an intoduction post tagged under anarchism... if i mis tag something i dont get shit. In the same post the author describes skyping with the whale of all whales before even starting. Sounds like insider trading to some effect... how can i earn a dime if im not in the circle of whales and my posts goes un noticed for a day then becomes frozen and goes to payout. Sweet. My 6 hours of work makes me nothing. Hope the new system works but im already doubting ill ever get anything out of steemit besides anxiety and frustration seeing nonsense making 10k and quality making .10
It does sounds more than perfect! So it just covers all the aspects of the worth of a post,great!
Thanks for the update and in the way it was written as i understood it, maybe the fog is lifting :)
Really valueble content sometimes needs bigger timeframe. Thanks to Devs. Great idea. We'check how it works.
Wow this is some great news. I think this will help in the long run. :)
Love this new update. I like how we now have two chances of a post to start to trend.
Good update!
I will wait in the hope.
I'm sure that if the change doesn't work perfectly that they will just adjust as necessary.
Thanks for having me not search for this :) great work