It will change the reward curve to a linear one.
A quarter votes left to be made a day. That is about 10 per 24 hours, at full power.
At 4 times higher impact per vote!
So, if ones upvote now adds at least 13 cents to the potential payout then that will be about 52 cents after hardfork 19 {HF19}! That is great, well I think it is. If one keeps voting full 100% though this will drain the voting strength of the account fast. Four times faster in fact. 50 upvotes in one day at full power would drain the strength to 0%. And it will take 5 days to fully recover. So that means 20% a day recovery. Therefore with the new linear voting system one could safely upvote 10 times per day at full 100% and get fully recovered the next day.
And if one wanted to keep upvoting at least 40 times a day? Well, then the resolution might be quite simple, just set the voting slider to 25%. That is basicly it, because the value for the upvote will still be about the same as before hardfork 19 {HF19}. That way it will seem like it all stayed the same. For me that will maybe mean I will upvote less of the replies, only the first, or it has to be really good. Do not know if I would want to touch the slider and set it lower than a 100%. Either I upvote, or I do not. And there are many more people coming to the Steem network, so in pratice the effect of this hardfork might be hardly noticed. Would be kind of fun to give some posts four times more than an upvote from my account could do now. It is worth it, as the Steem community can grow and more members will vote for different content.
All in all, hardfork 19 {HF19} will be a quite soft one, looking at the changes it brings forth with. And I am looking forward to it. Even more looking forward to the Steem Community Tokens. Now the hardfork that brings those about will be a day to celebrate!
Have a good one!
just lower the voting power to 25%
image by @oaldamster,
'fork' courtesy of Silberfuchs,
'comic' courtesy of Open Clipart Vector,
all under CC0 license
Well written and clearly explained @oaldamster. Just curious but how would we know that the fork has taken place?
Thank you @numpypython.
It is possible to go to https://steemd.com there the data and time of an upcoming hardfork will be announced. Also one can follow the current state of the upcoming hardfork at https://github.com/steemit/steem/releases where currently release candidate {RC} 2 is being reviewed. And it has an overview of what that HF will do.
And the most easy one: follow @steemitblog, there it will be announced. But once it is out there, there will be posts about it all over the place, so it will be hard to miss...
Hope this was helpfull.
Thanks again. Definitely helpful, @oaldamster. I'm sure there'll be lots of posts about this on the day of the release.
You are welcome @numpypython!
loled at the guy being forked haha
nice comic
looking forward to HF19 indeed!
Thanks, he got forked hard in a bad way Ivy, hahaha.
Looking forward to the official announcement of the Steem Community Tokens {SCT} myself most...
Thank you for this explanation. It's good to know 👍
Thank you! You are welcome!
Great post!! Any idea when HF19 scheduled to be implemented?
Thank you! After the last release candidate has been reviewed. Could be within a couple of weeks. Hard to state when exactly.
OK - Thank you!!
It is my pleasure!
Thanks for the tip @oaldamster :)
You are welcome @stackin. :-)
Lets just hope small channels (like mine for instance, which should only make people laugh) keep receiving votes...?
Btw; below 500SP, votingpower is always set at 100% right, will I be able to change it to 25% after HF19 while below 500SP?
That is a good question.
It depends on what amount of Steem Power would still add the minimum of value to the potential payout. This is a different type of calculation behind the scenes. So not always noticable in $ value.
The Steem Power an upvoting account has then needs to add at least the possible lowest amount of value. And that has to be still dividable by a 100% (at least, some even vote sub 1, like 0.23%). In theory any voting account will have a 4 times bigger influence, thanks to the linear reward line. That would mean that the lowest possible percentage choice could be changed to 125SP.
Yet, I am not sure of that, it is theory. One thing is sure though, the Steem Power any account has should be able to add enough value to the potential payout. And to have the percentage slider choice it should still be dividable by at least a 100% and result in a whole number of at least 1. (You cannot divide zero value...)
Many Steem accounts will set for 25% votes, I think, as they want to vote the way they did before. Guess your blog still would get payout, that would be quadruple at every vote, at 100%.
This is mostly theoratical thinking out loud... Yet I hope it could be of help.
Thanks, it sure makes a lot of sense!
Ps.
Glad I could be of assistence.
=D
Thank you. Good posting
Glad you like it!
That's good news I guess. Let's see how it plays out!
It will be interesting to watch how this will change things rewards wise. Some accounts might choose to go default on 25% voting power. I'd love to see how my upvotes can add a lot more to the potential payout.
Yet, I looking forward mostly to the Steem Community Tokens addition. That would really make my day. :-)
It is very discouraging to see comments make more money than the post. Happens a lot lately. I hope they also solve this problem.
Those are Steem members that are followed and auto upvoted by huge Steem Power holding accounts.
It has all been automated. There are sites that offer this as a service. Part of the system possibilities, hard to stop, I think.
Replies are posts, they are treated that way too. Have no idea how to stop this myself.
I never voted less than 100% so this might be a challenge for me.
Yes, it is for me too Anca, always at upvoting at 100%. If you would vote at up and about a 10 upvote daily average that still will be okay. Otherwise you might want to change your strategy.
Like I normally upvoted at 100% for almost every reply, maybe I need to make a different strategy for that. Or go at 25% mostely for replies, unless they knock my socks off. And I could even go even go as low as 10% for a reply. (That is still 40% in value compaired to the current way it is done.)
Need to find a balance there. Upvote replies once at 100% and else reply. Many possible solutions.
Yes, upvoting the replies at 25% is a better idea.
I will have to remember this after the hardfork...
The news will be all over Steem when HF19 is going live. You'll remember alright. ;-)
Thx for this good and informative info about HF19.
How will the voting rewards be changed?
It is my pleasure.
They will be changed from a logaritmic curve to linear line. This means that it works more directly in connection to the amount of Steem Power you have. Therefore the first upvotes you make will be have a lot more, 4 times higher, impact right away.
The actuall voting rewards that are added to the potential payout still depends on how much Steem Power the account that is upvoting has. And how much there is available in the current reward pool.
thx, and what happens with the 0-30 mins progression?
You are welcome.
That is something I did seem to miss out off. If I remember correctly it was said to wait at least 30 minutes before upvoting?
But I did not see where that would come from. Apart from the effects of the logaritmic curve and the dynamics if the reward pool, which may have given the impression that there was a time progression involved?
If you could enlighten me on that one I would be gratefull.
Thanks for the information. Written so well even a newbie such as myself can understand it!
Thank you, it is my pleasure, glad I could be of service!
How will HF19 affect the power of Bork?
Really have no clue.
something needs to be done.
just today I was threatened with whale flagging because of political policy differences of opinion
Of course I'm the EVIL right.
Literally Hitler.
So that's ok.
Literally...!? Sad to read that. Hope it is something that can be put to rest with mutual understanding, in the end.
And I do not know if a hardfork could prevent these kind of unpleasant situations.
doubt it...I get the impression that it wouldn't.
No, do not think it will be able to do that.
Good
Thx
This post has been ranked within the top 25 most undervalued posts in the first half of Jun 06. We estimate that this post is undervalued by $18.50 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jun 06 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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I think ultimately this will hurt the little guys... ones that depend on a lot of votes from other little guys. It's how we support each other. There are probably 20 people that I consistently upvote... it will also affect upvoting comments.
It should work out great for the whales (surprise) because those $250 votes will now be worth $1000 (to each other, not us). We'll see, but I'm not feeling the love!
The value per vote will be four times higher for anybody. And the Legend level accounts will still support the Newbie and other levels. Like they did before.
Rewards will build up faster with every added vote, that is basicly the essence. This goes indeed for every account, no matter what level they are at. For accounts of Newbie level and up this would mean faster results in potential payout.
There will be innitiatives that will support Newbie and up levels, just like there have been all they way from the start.
Guild will emerge, trails, and sub-communities. In essence the linear reward line will make every vote count for what it is worth in Steem Power. That includes the delegated, (+), ones.
If this really would work out bad in practise the reward curve would be adjusted in a follow up fork.
thanks for comment - valuable - exciting info
Glad I could be of assistence.
Поживем..увидим,....рано радоваться....
Время покажет.
Thank you for posting these informative articles @oaldamster.
It sounds like we will be brushing up on our maths. (^_^
Wishing you and yours all the best. Abientotlater.
It is my pleasure to do so @bleujay!
A bit of math might come in handy. :-)
All the best in return.
Abientotlater!
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Thanks a lot =)
You're welcome! :-)
I can certainly see me playing with the slider a lot more but I have been doing that for a while now when I noticed my voting power getting critically low!!!
That is a good reason to do so. Guess after HF19 that could be done towards 25%. It will work itself all out just fine. And otherwise there will be HF20, or HF21 to improve it.
Yeah, thesi some turmoil then understanding. It all works out in the end!
Or we are all forked!!! :0)
=D
It will be challenging. Thank you for the explanation:)
Thank you, it will be challenging indeed. :-)
Awesome
It is.
for a n00b where do you see the "drainage" meter when you vote?
The #eSteem app has it build in to show it all of the time: http://esteem.ws
Unfortunately #SteemIt dot com does not show it. So it would be a real valued addition. Until that moment the voting power percentag left can be found at: https://steemd.com/
Just add @bearbear613, just like at Steemit dot com, to find your statistics page there.