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.
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
Nice article, thanks for sharing
This post is very timely, because last night a newbie friend of mine was asking about all of this. Now I just sent her the link . Thanks a lot!
Perfect! :D
You received 15% of upvote for FREE from @rashley01! We upvote post for FREE to support the steemit author. Vote percentage is based on the Quality of the Content.
Upvoting this comment will help support some street children of Manila. Documentary here!
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@sndbox this is very helpful but its not valid these days. when the steem rate goes below $2 the calculation changes as you can see the Steem rewards also now in place. Is there any documentation or posts that show the calculations for current rewards as well ?
Very helpful I was having difficulty with understanding curation rewards as I was confused on whether comments are part of curation but it's very clear now
Glad this could help @joeycrack, thanks for the kind words :)
Thanks for the detailed explanation. Much appreciated.
Good to know and has helped alot.
Thanks..
Thanks for all the #tutorials! They are helping me wrap my head around #Steemit a bit... (This is my 3rd day on here...)
A couple of random questions popped in my head looking at this tutorial...
OR
would I actually make more money clicking on smaller payouts since I would probably get a bigger cut?
OR
Am I totally off base with my thinking and should I only upvote content that I truly am interested in and find informative?
I understand, in theory, the last option would be the correct answer, but since it only takes a second or 2 to upvote... why not?
BTW I signed up for steemit mainly in hopes of finding quality content and meeting interesting people, but hey, if I can make a few pennies here and there, why not?
So when I ended up with 0$ SBD/Steem for an article after 7 days, there is no chance to get something for it later? This is a bit frustrating :/
This simplifies understanding the payout system, thanks!
Thank you!
Thank you for this post. Really helps us. 😊
Here's $20 for supporting Steemit
Just click the link to Join Monetize Coin
https://monetizecoin.com/?ref=5a566f9c2e4cd
Thanks a lot for your valuable tutorial sharing...... i like this post. all the best my dear ..........resteemit
Thank you for explaining the power up option! So now the question becomes which one is better or what are the pros and cons to the 50/50 split or all steem power?
That would make a good post! The short answer... as long as 1 SBD = more than $ 1.00 USD you will earn much more by choosing the 50/50 payout option.
now that is what I really wanted to know.
Great work!
Do comment up votes pay out in 7 days as well?
Yes they do @gggreenhouse! Both comments and posts have a 7 day window to receive upvotes / flags before payout time.
I had one up vote that was quite large for me. Over 8.00, it's been 8 days and I havn't seen it add to my wallet. I would have noticed :)
Also a post that made over 20.00. I can see that it has fluctuated down to 17.00, and is at the 7 days mark. Is there a time zone when they pay out, that we can be aware of @sndbox ?
There's no time zone that it sticks to, just the exact 7 day mark! So if you posted on a Thursday at 6pm, it'll pay out the next week also at 6pm.
Also, make sure you redeem your rewards (green button) that appears at the top of your wallet :)
I always click the rewards. But as you can see if you look at my account, this one never came though. I will cut and paste here if that's ok @sndbox?
[-]
gggreenhouse (48) · 8 days ago
I have always found your reports informative and to the point. This one, again was amazingly insightful.
People in general don't think very far into the future. The head of GM, entering the revolving door of Corporation, to Government certainly was.
You are right on target, I have been seeing this 1950's paradigm for far to long. We shouldn't need roads, yet we still build them and use fossil fuels, just the way it was planned.
$8.86
2 votes
Reply
Looking into it for you...
Of that post, the Author (you) received $6.65. It appears that you did in fact redeem that reward yesterday.
3.324 SBD, and 0.593 STEEM POWER for gggreenhouse/re-corbettreport-n6qem5n2-20180110t142025384zDoah! it was split up. Thank you for that, see, your post here cleared that up for me. Thank you! I was thinking it had something to do with these glitches I keep having.
I have to refresh my page each time I go back.
not much
Lol, that took me a second.
Thank you for sharing this. It was difficult for me to figure out the real value of the post how matter I calculate it. This was very informative. Good work :)
Great @hanen, thanks for your supportive feedback!
Gracias por explicar en que consiste la curaduría y las recompensas, muy acertada su información
Thanks for this piece of information @sndbox . I have noticed the payouts flunctuations and even one of my posts that was upvoted by you reduced drastically when the value of steem decreased and I also observed that at a point it was increasing
Thanks @langford, yes! It'll fluctuate a LOT this week especially. The markets have been up and down and up again :)
Thanks @sndbox! As always killin it with the infographics. Making Steemit make sense since 2017.
Haha, nice! Thanks @erb :D
Even though I have been part of this for several months I still consider myself a noob this is very insightful thank you.
Well you know, we're all noobs to the Steem blockchain :) it's so young!
When I first started less than a month ago, this payout system was insanely confusing. I had to re-explain what the payouts "actually" were about three seperate times to my friends because my understanding was wrong. I initially thought it was in $USD, then in $SBD, then in $SBD (but 50% was $SBD value in STEEM, $USD value in STEEM). It confused me for the longest time.
Thank you for organizing such a clear explanation for Steemians! This will definitely help people, and will be my new go-to resource to link to friends who ask in the future haha
I personally think that it shouldn't list using the "$" symbol, since it's so commonly associated with USD. I think they should do "$SBD" and "$USD" when they mean each currency respectively. Overall, I think the 50/50 payout should be displayed on interfaces as "$14.5 USD", and be togglable by a click between a USD/SBD/SBD+STEEM payout displays. It definitely needs to be a bit more clear and explicit with what it means.
That being said, I mean this from a display perspective. I understand why the blockchain itself does the math in SBD. I just feel that the user interfaces themselves should display it to the user in a few more ways that are each explicit with the units used.
EDIT:
Honestly, I don't even think the default value should be in $USD either. The value changes in the first seven days so it's not really an accurate representation, and as much as it's cool to see the fully transparent value, I think the default display value should be in upvotes or some imaginary scoring system like Reddit's karma. Imagine if the interface defaulted to a Weighted Upvote score, where each upvote was weighed at log(sp) where sp is a users STEEM POWER. So 10 STEEM POWER means your upvote is worth 1, 100 SP means it's worth 2, 1000 it's worth 3, etc.
This weighted voting is unit-less then and just becomes a magic number so people can look at it and gauge a posts popularity, without some $USD/$SBD value being thrown in their face. However, clicking on that number cycles it, so clicking it would go WeightedUpvote->$USD->$SBD->$SBD + SP->WeightedUpvote->...
I think it would just overall be more user friendly, newcomer friendly, and then lets people get more explicit information about currencies when they choose to see the post in that format.
Thanks for your thoughtful reply @carsonroscoe! Glad this post was useful / also helpful as a thought experiment. It would be interesting to apply something native to Steemit, perhaps it's simply "Steem" and you can enlarge a mini pie chart to illustrate how the post is actually being broken down. We definitely could use a nice and user friendly solution :)
I like that idea. Some sort of Steemit unique ranking system, but the mini pie chart illustration for payment breakdown would be a nice touch. I think it would be really important to keep the static look clean and user friendly (such as a simply ranking number), but have all important technical information accessible on the page in 1-2 actions away (like a hover pie-chart is just one action, hover over it. Really conveniently done).
Very informative and beautifully illustrated. Thanks!
Thank you!
I’d prefer to be able to see both, because sometimes I care more for the amount in Dollars, and other times it’s the other way around.
When it would be displayed in SBD/Steem, at least you would have a clearer idea of what you will get in the end.
It might be nice to toggle the interface between the two... Hmmm.
it would be indeed :-)
Very very informative. Thanks for this post, this will really help us newbies understand steemit better.
Glad it could help, thanks @wdoutjah :)
really good instructional explanations and your graphics are good.
thanks for this post it helps.
Thank you!
This is the fresh channel, follow her : https://steemit.com/@jeeesh - She doesn't have followers yet. Community help needed.
very good explanation. thank you!
Thanks for your support!
https://steemit.com/story/@jeffery-awesome/the-wonderful-wizard-of-oz-1d6bed1140f99
This is such a great resource. I always wondered what that 50/50 option actually did. Now I know. Thank you.
Nice sir
Your right, the payout system is usually confusing especially to those who are new in steemit. From what i know about the reward system, the “$” symbol stand for STU, which means steem token unit.
There are arguments for both sides as far as displaying native steem rewards vs dollars.
People can relate to US dollars, so it's an incentive to attain more dollars instead of something nebulous like steem fun dollars, even though they are worth more. So, I think dollars is a good thing to display to people new to steem because they see there is real potential if they create content other people appreciate.
Unfortunately, I think it creates more of a perverse incentive for people who are here to feed their greed. The same symbol will mean different things to different people, and there isn't a way to have it mean what you want it to mean to everybody.
I think there's a possibility that switching it over to a steem denominated amount could be a better idea in the long run after steemit has reached a critical mass because by then you won't have to wave dollars in people's faces, they will be here for the steem power.
And what about the app developers or the benificary accounts ???
How much they can earn on your 10$ post ??
Thank you for information post, That was so difficult understood before, but after you Write it was very simple to understand
Every new user should read this post!
Very well written explanation of how Steem as a platform works out payments.
I am glad that this platform rewards useful posts like this but I guess that's part of the main concept of Steem lol.
I did my research on how the currencies worked before I joined. I am excited to start writing but I want to make sure I have a good first post ready before I do!
Also, unrelated to the post, but I love your logo!
Thank you for your support @leond-thurrell! :D
I really regret stepping away from Steemit when sndbox was just getting started. These guides are extremely well designed and I think they provide more value for new users than 99% of the other content aimed at minnows.
That's really kind of you to say, thanks @granturismo89! We're currently working on short video tutorials for each of these resources as well. Sometimes the text can be a bit daunting so we're hoping the animated clips provide even more clarify for Steemit newcomers.
Great post tnx for sharing I just upvote check out my post steemit all the way