Why the dollar payouts don't match the amount of STEEM that you get for a post explained in a simple video.

▶️ Watch on 3Speak


When you examine the breakdown of any post currently, you will notice that the amount of STEEM you get does not match the number of dollars that represent the payout.

Example:


Screenshot 2019-11-03 at 10.22.37.png


The current payout of this post is $139,83

But the amount of STEEM that will be earned is 346 SP + 346 STEEM = 692 STEEM.

692 STEEM at current STEEM price of $0,15 is $103,80.

In this video, I explain why that is the case.

You will also learn about Steempower, STEEM, SBD, and the virtual supply.

Enjoy.


▶️ 3Speak


Comments
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  • @gunnarheilmann

    Very useful. Thank you for the insight. Let's hope the course will slowly rise.

    Posted using Partiko Android

  • @jozef230

    Very interesting. Thank you!

    Posted using Partiko Android

  • @blazing

    yes its all about looking ahead and keep collecting who knows where steem will head towards in a short period of time .... its time to collect more

  • @cryptorg

    Knowing the basics of steem payouts is something that every new steemer should take a lesson upon in order not to be disappointed or expecting something else. There could be still clearer payout system, but at least to understand the current one and why some things are the way there are is a great first lesson. http://hdwpro.com/wp-content/uploads/2016/09/Quotes-About-Love-Lesson.jpg

  • @bozz

    You did a great job explaining what is happening. I always used to get really confused when the numbers would not match up. Then I learned about things like curation and all of that. Awesome video!

  • @wiseagent

    Great post, @exyle... Very useful!

  • @javirid

    Here is my opinion on all of this, not my opinion on your video, @exyle. I hope I am not wrong on my low level assumptions on the STEEM blockchain inner workings. You are a witness, or you were in a time, so please don't be too hard on me if I am very wrong.

    As far as I know, when steemians upvote, they say "those are my VESTS -shares- on the Steem blockchain and I think this post/content deserves the corresponding share of the inflation of STEEM".

    What Steem front-ends know for sure is the amount of Steem the post will get, according to the Steem Power of those who upvoted and taking into consideration the formula which allows to convert between VESTS and STEEM. That STEEM is normally paid in the form of Steem Power, some other times also split in liquid and non-liquid STEEM.

    Fiat currency conversions are something fully outside the blockchain, and it will be fluctuating continually, adding complexity to front-ends, as your video is not the first one which tries to explain all of this, and will of course not be the last one. What participants will get is STEEM, for sure, while they will most of the times be unable to convert the rewards to other cryptos, as most of it will be rewarded in illiquid SP.

    They would be able to convert 50% of the STEEM at the rate used to calculate the rewards, at most. So showing the reward in fiat is always lying to the user and the visitor to all of the Steem participants.

    In my opinion, all of this could be simplified by just showing the amount of STEEM a post will get as a reward, which is certainly knew to front-ends without having to know the STEEM/USD conversion rate -being it from the witnesses data feed or from third-party websites like coinpaprika-.

  • @brianoflondon

    That was worth watching. I've never managed to understand this before!

  • @gangstalking

    On STEEM, EOS or BITSHARES? have crypto? Human Trafficking Included. This is on VOICE as well. The developers are helping terrorists human traffic. WARNING

    Self proclaimed community watchdogs are actually hacking and stalking people.

    This group https://steemit.com/@steemspeak is ran by https://steemit.com/@fyrstikken. They are hacking people that enter this discord server https://discordapp.com/invite/sqxV63P . Once you are hacked they profile you long enough to know all of your activities. They introduce workplace gangstalking visits and bring it to your attention cleverly and discretely so only you get it. They are very covert and tricky with everything they say and do in this server. Some claim to have worked for or are working with the FBI and the NSA. Mixed with decommissioned traders and coding criminals, Its a scary mix of creepy people and their intent is to drive you crazy and deplete everything you have ever acquired in life, even your freedom.

    My hacking started with them introducing ransomware that has options, dump my coin or delete my system drive. They acknowledged this to me in the server as it happened. I've been following this group since before it was on discord. I joined when it was on teamspeak.

    This hacking and stalking is done so they can manipulate the target to pump and dump for them. Threatening and Making victims wear head phones, so nobody in your household can hear thier dramatization towards you. In 2017 this server was side marked as a drama show for entertainment purposes only as an excuse to say whatever they want all the way down to killing a politician. They have a server side command called "hey asshole" making a prompt come up instructing everyone to wear headphones. They want everyone wearing headphones so nobody in your vicinity can hear them mess with you. Fystikken says its because of "mic feedback" but once your a target you get exactly why they make everyone wear headphones.

    With headphones on they subliminally direct victims with very low suggestive whispers mixed into their radio shows music. Combine this with them being able to manipulate their own individual outputs sound volume, which they control on the server side, they can pick what individual people hear at any given time. They decide who you hear on the server and change the volume controls for them. They can make some really low or off for those trying to investigate. They control who hears what and know who is who.

    This team will find absolutely everything they can about you prior to using their suggestive and threatening program. They Introduce pictures that mean something only to the target, inducing paranoia while they watch and listen thru all of your circumvented devices. They are very aware of what makes you tick. They know your work schedule and use it for work stalking along side of this. I received multiple threatening letters to my work and home addressed to my screen name from this group.

    Fyrstikken tells people they are drafted like they did with Facebook at the beginning. He says Facebook was started by forced labor and V2K controlled slaves, just like he creates with his gang for steem and crypto. "Get to work bitch" he tells people once circumvented and intimidated.

    Human trafficking is worse than drugs. Steemit censors important content that will expose them. Look at steemit.com/@gangstalking