What is an “Upvote”?
An upvote on Steemit.com is very different than a vote on any other social-media website. Clicking that little arrow is much more than a “Like” on Facebook or a “Heart” on Instagram. On Steemit, votes are rewarded with STEEM!
In today’s Toolkit post, we’ll explain what an “upvote” actually is, where the rewards come from and and how they are distributed on the Steemit website.
Where does the STEEM come from?
When you upvote someone’s post - that value is not being withdrawn from your personal account. (This is a common misunderstanding.) You’re not giving anyone anything from your personal savings or STEEM Power. Instead, you’re vote is actually tapping into a brand new pool of STEEM. There’s a fresh batch of STEEM produced everyday, and it’s called the daily rewards pool.
New STEEM tokens are being created all the time. The rewards pool is an amount of STEEM generated every day from inflation. Right now, several tens of thousands of STEEM tokens are being created every day (Approximagely 63,000/day. The percentage of yearly inflation shrinks incrementally as time goes on). This daily STEEM represents the pool from which your vote takes a certain amount and distributes it to where you’ve directed.
What happens when you vote?
When you click the upvote button you are telling the STEEM Blockchain, “this is where I want X amount of the daily rewards pool to go.” The amount that you’re able to direct is dependent on the amount of STEEM Power you have. So the more SP you have, the more of the daily rewards pool you can direct to posts you like! (Your vote is not affected by liquid STEEM or SBD, learn more about the differences here.)
You can verify how much voting power your account has at any time by plugging it in at this website - www.steemnow.com
Curation Rewards
An upvote on Steemit is also a tool for you to earn curation rewards. Simply put, when a post or comment is paid out a portion of the rewards is redistributed back to the people that helped generate that amount. If you upvote a post, you’re effectively helping it gain visibility and support and you’re rewarded for that curation.
The amount you get back from a post you upvoted depends on a number of factors - how much the post made during payout, at what point in time you upvoted that post, the number of votes before you upvoted, voting power, and so on and so forth. Without going into too much detail, the following can be used as the basic rule of thumb-
The earlier that you vote on a potentially successful and highly rewarded post, the more you will make in curation rewards. You can read more about the exact calculations of how curation rewards work here.
Exploring More @sndbox Steemit Toolkits
Thanks for reading! We hope you found this "Upvote Guide" useful. If you have any questions please don’t hesitate to reach out in the comment section. Check out our other toolkit posts for helpful tips and ideas :
Thanks for the explanation
This post received a 1.5% upvote from @randowhale thanks to @cxc! For more information, click here!
You're very welcome!
May I translate your post to Russian? I need to share is with RU community
Absolutely! As long as we're linked and accredited. Be sure to send us a link so we can upvote it! Thanks @allfabeta
Your post in Russian https://steemit.com/ru/@allfabeta/chto-takoe-stimit-apvot-illyustrirovannoe-posobie
Fantastic, thank you! Wonderful work spreading the word into the RU community!
for sure I'll do
Thank you for another informative article! Explaining how Steemit actually works behind the scenes, to be able to reward authors and curators all while built on top of a blockchain and backed by a cryptocurrency. For newer users, myself included, understanding how this platform actually works helps us understand to properly utilize it to its utmost potential. Upvoted and resteemed to spread the understanding conveyed to more users! Thanks again!
Thank you for the feedback!
Excellent job here man, keep it up ;)
You bet! Thanks for the support :)
awesome work, very clear, short and sweet explanation, really liked it, upvoted and followed, cheers .
I agree the post was simple enough that i could understand it.
Many thanks for the kind and supportive feedback @applesspatrick!
thanks for sharing , it will help many users
Glad you found it useful! Thanks @hrsagar
A very useful post Sir @sndbox, before I ever thought as you said above, that the steem we give to other people via upvote will reduce the steem we are misunderstanding it missed, but now Sir, it is very helpful to me. Thank you for share this post Sir.
Thanks for your support @herzaseptian! Yes, an important note - upvoting doesn't take any STEEM away you from. Upvoting is totally free!
Awesome this is such a cool instructional video! Thanks for sharing :)
That animation is awesome! Very good for noobies to understand where does the money come from.
Thanks for the great explanation!
Great post
Thanks!
Thx for this helpful guide
Thank you for reading!
These are some cool animations:) tip!
@originalworks Again, Love this steemains work!
@OriginalWorks Mention Bot activated by @karlstanley. The @OriginalWorks bot has determined this post by @sndbox to be original material and upvoted it!
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Thank you fot articel
This Information is useful @sndbox
Glad that someone is explaining this ! Well written and great graphics too
same other channal
from https://steemit.com/@cheetah
https://busy.org/@cheetah
Okay, I have banned your channal in 5 dyas
Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!
To get off this list, please chat with us in the #steemitabuse-appeals channel in steemit.chat.
Thank you @sndbox for the detailed explanation, that gif makes it easy for everyone to understand how this works. I need to show this to some of my friends.
Thanks! Glad you liked it :)
Sencillo de entender, creo que visitare tus publicaciones más seguido. Saludos desde Bogotá.
Gracias por el apoyo @davidongo!
great work by you ....like it!!
Nice post! Now I understand how upvoting works. :)
That's great to hear @topic4lunch!
Thank you!
It has been very useful
Thanks @mariannaeaviva!
Real nice animation!
We had some fun making it! Glad you found it clear and helpful :)
Hi all steemit friends, please follow me and like my post, i like all of you.
Thank you for the clarification of the upvote. There are many here who believe it costs them to upvote. It seams all complex but this post helps.
Glad this helps! It's a common misconception, but understandable! Cheers @enjoywithtroy
I think you should take the entire whitepaper, and explain it in a simple-to-understand fashion, because you are clearly very good at explaining things.
Super interesting! That might be a really valuable exercise. We definitely would like to cover the basics so that new Steemians have an easier time navigating the platform. Thanks so much for the support and kind words @harshallele :)
You explained something that seems difficult to understand and made it easier. I really hope Steemians know about how important a vote is, and most importantly what you upvote. One single Upvote can change the life of a Steemian Forever!
It really can! That's a post in and of itself, the power and impact of a vote... thanks for sharing your thoughts on this @jonsnow1983!
Clear and enlightening, thank you!
But I have a concern about the reward pool and long-term sustainability. I gather the pool fluctuates with inflation and possibly with the currency market? You write "the percentage of yearly inflation shrinks incrementally as time goes on." So as Steemit users increase in number over time, won't that make the value of the pool shrink and difficult to sustain?
Interesting question @kenfinkel! Inflation of the daily "rewards pool" increases the number of STEEM tokens held on the blockchain... but it does not directly alter the value of STEEM. (An important distinction.)
From the Steemit FAQ page...
So as the ecosystem of Steemit users increase over time, yes, STEEM tokens will be harder to come by. BUT the value of each of those tokens is another story. Ideally, the value rises as the demand rises. There are many other factors that give value to the STEEM ecosystem. If your next question is where does the value come from? This might help...
Very useful.
So very useful..i know steemit by my friend @albuluhi, he told me that only about having account, upvote and comment but we don't know much about it because we are beginners and never withdrawl even one time. We know steemit from friends but we have no special sharing community here. Therefore, searching out in related articles is the best way for us. How poor we are. However, we believe that what people achive on steemit could be achived also by us event though we are beginners. Now, @lbuluhi gets it much better than i am n i Will get it soon.
Welcome to you and your friends! Explore Steemit and keep searching for helpful resources. If there's a topic that you would like us to write about / explain, please let us know! :)
Thanks for your cooperation
I did not know these things: "The earlier that you vote on a potentially successful and highly rewarded post, the more you will make in curation rewards." and "When you upvote someone’s post - that value is not being withdrawn from your personal account." Thanks for explanations, it's the first post I'm reading about this.
How many posts can I upvote in one day?
Great question... There is no limit to how many posts you can upvote in a day! But you can only upvote ~15 posts per day at full 100% power. (Steemians that have above 500 Steem Power in their wallet will see a scroll bar that allows them to measure exactly how strong they would like their vote to be.)
Thanks for the explanation @sndbox. One more question, please: besides Steemit Chat and Discord, how can we promote our posts?
Right now I believe those two are the best options! Find a chatroom channel in either one and begin a conversation :)
Brilliant post,really educative on steem and upvoting :) Resteemed and upvoted
Thank you for your support @practicaleric!
hola desde españa una informacion muy interesante.
Muchas gracias!
Well explanatory
Nice post
Thank you!
Hi thanks so much. I wasn't clear about upvotes. Helps a lot.
Glad it helped! Thanks @amrita :)
This is the best explanation is have seen on steemit thank u sir
You bet, thanks for the kind words!
Very informative post. Now after 3 days I understood the proper concept and methodology of upvoting.
Thanks for detailed guidance @sndbox sir.
Glad to be of help!
good
Great!
Very well explained, sadly for a new person upvoting does not help at all and no rewards can be made, the whales get bigger and the newbies suffer! There must be some equilibrium to solve this.
It is very difficult in the beginning but with a some grit and hard work, any account become more successful and impactful. Steem on!
nice post and explaining curation rewards!!!
We appreciate the enthusiasm!
Really great illustration of the distribution process. I like the animation. Thumbs up. Curious which other topics you cover in your next posts.
We've still got a lot of ground to cover, stay tuned!
thanks for the explanation! greetings from Brasil!
Absolutely! Greetings from New York!
i like the way you just explained in very short length and it is also meaningful for us .. i really appreciate you work..
great post keep it up,upvoted and followed :) :)
thanks
Thank you for the support!
it will be better for all of us when we appreciate their spirituality ..
no need of thanks my bro ...! :)
A very useful and helpful post @sndbox, before I ever thought as you said above, that the steem we give to other people via upvote will reduce the steem we are misunderstanding it missed, but now , it is very helpful to me. Thank you for share this post .
please follow and support me as well.
Glad to be of help!
Very simple and functional . Ive read some about pre and post fork functions but i tend to get them mixed up .
It is a tricky topic, we hope this helps.
@sndbox Well I just hit that "little arrow" because this was a really USEFUL post to people starting out on this platform. It is really important (in my opinion anyway) that everyone understand how the cogs turn and your manner of explanation was really clear, easy to understand and "user friendly" all round! Hats off to you!
Love it!
Thanks for the support @jaynie!
only a pleasure xxx
Clear and easy to understand. Now I know where I got some sp and sbd
Right on ;)
Awesome thanks I did not know that, now who needs an upvote?....come here lol.
Haha that's the spirit!
great post
Thank you!
Upvoted, resteemed. Informaive post, thank you!
Thanks!
Straight to the point, good work. I wish there was a post like this when i very started on steemit :D
Thank you!