STEEM POWER is STEEM locked up. There's a limited amount of STEEM available. Everyone that powers up STEEM gets a share of the reward pool. Having STEEM POWER gives you the ability to assign a certain part of the reward pool to content. Does that clarify it?
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Thank you @calamus056. Actually, I knew that.
What I want to know is the exact formula used to calculate the upvote value. For example, if a user with 1000 SP upvoted me, how much would that give me in terms of rewards?
Oh, i don't think you can accurately calculate that since it's based on how many people are using their voting power.
Currently it seems to be around $0.000425 per SP. Haven't figured out the formula myself yet.
Oh! I see. Thank you anyways.