Can I ask you this: when I upvote someone's post am I giving them some of my Steem or is it being newly created? For instance, I currently have 0 Steem, a small amount of SP, and some SMD. I just upvoted your reply, and the $ didn't move at all. Is this because I have very low SP or because I have no Steem tokens currently?
You are viewing a single comment's thread from:
When you upvote someone's post, or your own post for that matter, you are rewarding them with Steem Power (SP) and Steem Dollars (SBD) that will be newly created at the next scheduled payout. The amount of the reward your upvote is worth is based on the amount of SP you have.
For example, I have about 570 SP and when I upvoted your post just now, your reward jumped to $0.02 because of my SP. As you get more SP, your votes will be worth a bigger reward of newly created SP and SBD for posts you upvote.
@gregory-f: I liked your reply and tried to up-vote you. I have a huge amount of Steem Power and when I upvote people it is usually worth a couple of dollars to them. However, your balance didn't move. Is the reason:
Number 1 is mostly correct. You cannot give a reward to a post or comment that is over 7 days old. Actually the cut off for a reward is 12 hours before the 7 day mark.
Number 2 is a little correct, in that you have a limited amount of rewards available and every full power upvote reduces your voting power by 2%. You also recharge voting power by 2% every 2.4 hours. So if you only give out 10 full power upvotes every day you will stay close to full power.
You can see your voting power level here: https://steemd.com/@swissclive
You've given the best explanation i've read on this post. It's just simple.
Thank you!
Upvoting this because I wonder the same thing. When I upvote someone and say I had a lot of SP (which right now I have a new account) is that money that I am sending from my own account or is that being distributed from newly mined STEEM? Say I had a lot of SP if I upvote the hell out of everything am I essentially spending my SP? Should I be more careful in only upvoting the very best content? TY in advance for whoever can reply.
Upvoting everything is not a good idea. Steemit is designed for 20 upvotes a day. You could give up to 20 votes at full power and every vote over 20 would weaken the reward for all your votes. So voting for only the best content is better.
When you upvote someone's post, you are rewarding them with Steem Power (SP) and Steem Dollars (SBD) that will be newly created at the next scheduled payout. It does not come out of your SP.
gregory finally ,that was the answer i was looking for the whole day. Thanks man 🎉
Glad I could help.
This is very important and should be stickied somewhere.
I am also confused about this.