Following yesterday STEEM appreciation, which seems to continue today, the STEEM rewards fund is now worth $2,000,000, after a few weeks when it was below $1,500,000.
The screenshot is taken from steem.supply, and, as you can see it, the fund didn't grow very much in STEEM, but because of the asset appreciation, it's worth a lot more now in fiat. As a matter of fact, in STEEM, the rewards fund is still at a relatively high level, which means any of the following (or all of them at once):
- users are posting / voting less
- some of the users are simply forgetting to cash in their rewards, which are "stuck" in the rewards pool
- the vast majority of people are immune to the concept of "opportunity" - which means, basically, that you have to be greedy when others are fearful, and fearful when others are greedy (as the big oracle, Warren Buffet himself, once said, and the whole Internet is copying that ever since).
Steem on!
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
I love the quote by warren buffet.
I was powering up all the way down from highs :) Good job me :)
I still think this is not an alt run. This is just a temporary relief.
Let's milk the reward pool with good content and networking! :D
I didn't know that the reward pool had a variable amount, but with the way Steem works, it makes sense. I'm told there will be some nice rewards by the end of the week.
Amen to that :)
People are certainly voting, but it is more self-voting happening than upvoting for others. All those $0.00 are going back where they came from ;)
I am definitely seeing far fewer posts than when I first joined last December @dragosroua. Some times the new feed doesn't move at all for minutes at a time.
Regarding the reward pool : I checked @anniversary account's posts. It was interesting. Only 5%-10% of the one-year-old accounts are still active!!! We are surrounded by dead corpses... :-) People are looking for quick and easy money. In a few weeks, they realize that the fence is not built of sausage here, and they leave.
That was hilarious :)
As for people wanting quick money, what else is new since Homo Sapiens?
Honestly, nothing.
It's just simply embarrassing (or scaring?) that only 5-10% thinks that the time he/she spents here is not wasted.
" greedy when others are fearful, and fearful when others are greedy"
I'm sure he was just paraphrasing Baron Rothschild's "blood on the streets" quote.
I hope that with the news these past few days + this price bump we had a new wave of users and investors jump into the platform!
I like how you used this
As people posted and voted less i posted and voted more and have seen an increase in my rewards because of so. Even my Curation rewards is bigger but then receiving a delegation might have gotten to do with it but I have been able to vote more because of it.
With Steem price appreciating maybe we will see more posters again but hopefully it is those that stayed the course who will truly benefit.
Probably many of the users who abandon their account (of forget/loose) also have haven't redeemed their rewards. Will their rewards be forever stuck in the rewards pool, and does that have any long term consequence for the functioning of the rewards pool?
If they don't cash in, yes.
I don't see how.
.
As far as I understand, if rewards are not claimed, they remain in the rewards pool. Otherwise I couldn’t explain its irregular variability. So, as long as you don’t cash out what’s in your rewards balance, this should count towards the rewards pool as well.
But I might be wrong.
It's a great time for those of us who are serious about Steemit to get posting and reap some rewards. It's easy to be bullish when everything is peachy in the markets, but true rewards will come to those who stick around through the rougher waters.
Wow back in the previous day this is really great :)
Just Be Consistent and Create Content Everyday That is how to be Successful on STEEMIT. Thank You @dragosroua for all that you do to make This a Great Social Media Platform...............
Steemit is getting quite a momentum. Hope it can maintain it.
Culling yourself from the band wagon effect..6th sense intuition!!!warren buffet a master at this...You got good taste for mentors!!!
"When you are bored to death you leave every thing."
These words are by great ME.
Ok
Since few weeks i stopped voting others as i vote the big and they become bugger abd i vite the newbie and they leave after fursteration killed their dreams
I resteem now
However what you said is relativly true about the reward pool but you need tonadd that firvtge last few weeks nany left steemit as the steem price was declining and the value was poor and big players are waiting small players to vote gor the big players while the big players were not and still not voting forvthe small players.
Plus the big shots such as @minnowbooster and @smartmarket now fo not upvote the poor small minnows and consider them spammers and blacklisted so the qty of votes are less..
I hope to see steem equals 1000 USD .... soon
This is an opportunity. I which i could cash in on this but unfortunately life has caught up with me. I am now in a situation where i want to put in some effort on steem but unable to because of lack of time. I guess i have to be satisfied with what ever little time i am getting.
Well yeah.
I see your point, but we that are making efforts to write articles should be happy because the increase in steem price appreciates us in Fiat money and thats's even much better
Hehehehe I love that quote by Warren buffet. So on point and exactly what happens to many in this blockchain. Perhaps that's why we still have a lot of uncahsed rewards on the blockchain.
Steem is foing higher and higher , you can see even to the rest of the alts steem is in the biggest jump
I love steem
This present time is encouraging to us all. This will motivate people to post and upvote more.
Nice one.
'users are posting / voting less'
I have noticed this in the last few days. The Steem price has gone a little nuts in the last 36 hours and yet there's still not a lot of activity out there.
Things should pick up soon if it keeps on an upward trajectory.
great news
Right saying sir, your explanation is really appreciable. Thank you for sharing the informative post which enhance our crypto knowledge.
If anything, for the last three weeks, I've been commenting more (which I understand to be posting as far as the system is concerned), publishing posts about the same, but voting more.
However, over that period of time, I wouldn't say I've seen an uptick in rewards, because others need to at least be voting. And while the big accounts persist with their SP and their bots, I think it's the middle SP that has dwindled a little bit, since I don't see a whole lot of large minnow to dolphin-sized votes.
Or maybe they are there, it's just that they too are delegating, or trying to spread their vote out as much as they can to help encourage as many people as they can.
Lots of us smaller minnows and plankton doing our diminutive best to roust the reward pool, though. :)