I'm not entirely sure what the ideal pool size will be... Depends on how many whales are voting really as to how fast the pool will be made available to users.
The rewards payout is based on a 30 day look back period, therefore the increase in voting power will slowly be incorporated into the look back period over the next 30 days.
My understanding is right now we are seeing elevated payout levels as a side effect of people being able to vote heavier weight.. It should "normalize" within a month or less from what I am reading.
The reward pool size hasn't changed.. In fact in HF 18 the reward pool was never drained at all daily and ended up filling up a large amount beyond what was able to be given out daily..
The network isn't issuing STEEM or SBD any faster or slower.. It's merely just allowing the reward pool to be distributed easier.
But if the SAME amount of rewards are being issued per day, how are total payouts up dramatically? The total payouts cannot go up without more rewards being issued. Unless I'm completely misunderstanding.
edit: For what it's worth, I want you to be right. I'm just really confused as to how this possible.
Imagine the rewards pool as a bucket or keg with a spout on the bottom. Each day a certain amount of rewards are being put into it by the network. In HF 18 our spout wasn't big enough to empty the rewards faster than the reward bucket was replenished every day so it started to get more full.. In HF 19 we've essentially taken the spout at the bottom an replaced it with a much bigger one.. Allowing us to actually possibly drain the rewards pool as fast or faster than it gets replenished. :)
Alright, I understand what you're saying. Does that mean after these backlog rewards pay out, the post rewards will settle down a little? Or is this the new normal?
We're not creating more Steem. It's just that all the Steem which was being allocated within a small number of posts are being more widely distributed.
We will still have to see the impact of @abit and @smooth's bots being turned off, and any changes in behaviour of normal users and whales though.
Holy jeez.....yeah I already made the mistake. It went live right as I was voting on a post, just put a big dent in my vote power. I will vote your post at a more appropriate percentage :-)
Oh. I think it is not a buy, as many people's vote value had been adjusted after Hf19. Many of these people had double their income! I think that why your vote value had change! And I think we should feel happy about like as our earning is keeping increase!
I was expecting no increase at all to my votes... part from the 4x.
My voting power is running out rapidly. People are forced to reduce their voting strengths.
My goodness, I just saw this as well when I hopped on my notice that the payouts on my page were all much higher! I think with this power it will be much more important for people to put out great content, or funny content or anything that truly catches peoples attention. I think that people might be more selective when the vote for stuff on the site. However, I'm not sure how everything will evolve I'm just quite excitied!
Whoa !! i think that's how it is supposed to work it might be just you have too much steem power and you should be considering less voting percentage ;) !!
Oh shoot! Wonder if that was SP or VP or both same time? I checked on my previous comments that were like 0.01 or 5 cents. Almost shot up to a dollar or so.
depending on your voting power, I think 10 votes per day but i think you can decrease the amount of power to a given post and give more votes per day...I am subject to correct
WOW! I agree! What a big change! This is pretty incredible if it's supposed to be this way? Will it change or is this the way it will be? I'm stoked about it so far. How bout you? Just up voted this one and it jumped almost $5. Crazy but in a good way!
@elyaque ... Well that is hilarious .. i was expecting it to be quite different .. they should have only added little power to newbies and distribution as per reputation ... i am not happy with this :(
To think I was just paying attention to the STEEM price as well. I done the exact same thing! Looked at my blogs for a moment and got a nice little HF19 present.
I just voted for my own comment here!
Yeahhhhh....
ohhhhh noooo.... there's no "$27"
There you go, I boosted you up to $10 :)
hahaha, well guess you need some more SP still :)
Congratulations @elyaque!
Your post was mentioned in my hit parade in the following category:
Crazy, look at the trending post's!
What's wrong with the trending posts? You mean their earnings? :D
Yes of course the earnings....
Honestly, for me even before the rewards seemed unsustainable and now it's just crazy.
It's not bug it is a feature! ;)
No bug. This is the effect of 4x voting power and the reward curve flattening.
Amazing Shit man!
The reward pool in HF18 never got fully emptied so you can view this as an "unleashing of the floodgates" so to speak. :)
Amazing, hope like this the newbies will be way more motivated which is a very good thing!
So what is the ideal rewards pool level? Is the 1.6 million it is currently sitting at too high?
I'm not entirely sure what the ideal pool size will be... Depends on how many whales are voting really as to how fast the pool will be made available to users.
Is the following statement correction?
The rewards payout is based on a 30 day look back period, therefore the increase in voting power will slowly be incorporated into the look back period over the next 30 days.
I may be wrong! often am!
My understanding is right now we are seeing elevated payout levels as a side effect of people being able to vote heavier weight.. It should "normalize" within a month or less from what I am reading.
There's no way this is sustainable. You can't just create a bunch more steem out of thin air - unless the prices are just gonna drop like crazy.
The reward pool size hasn't changed.. In fact in HF 18 the reward pool was never drained at all daily and ended up filling up a large amount beyond what was able to be given out daily..
The network isn't issuing STEEM or SBD any faster or slower.. It's merely just allowing the reward pool to be distributed easier.
But if the SAME amount of rewards are being issued per day, how are total payouts up dramatically? The total payouts cannot go up without more rewards being issued. Unless I'm completely misunderstanding.
edit: For what it's worth, I want you to be right. I'm just really confused as to how this possible.
Imagine the rewards pool as a bucket or keg with a spout on the bottom. Each day a certain amount of rewards are being put into it by the network. In HF 18 our spout wasn't big enough to empty the rewards faster than the reward bucket was replenished every day so it started to get more full.. In HF 19 we've essentially taken the spout at the bottom an replaced it with a much bigger one.. Allowing us to actually possibly drain the rewards pool as fast or faster than it gets replenished. :)
You are misunderstanding. The reward pool is being refilled at the same rate however the backlog of reward pool is now being paid out.
Thanks for explaining it :)
Alright, I understand what you're saying. Does that mean after these backlog rewards pay out, the post rewards will settle down a little? Or is this the new normal?
I believe we are seeing boosted payouts and it should calm down with more voting me thinks. :)
Same thing... my upvote is more than a 5$ now. An was just a 0.17
It's insane...
Crazy Shit!
Oh yeah!
Well, you do have a lot of Steem :D but yeah that's a huge increase.
The real abuse temptation is about comments...just upvoting own comments (like I am doing here :-) ) brings real money now....
My vote is 3$
Crazy!
Congratulations ! HF 19 is going to rock...looking forward for seeing some amazing changes in earning potential....
This is bad! Like this the Rewards pool will be drained in no time!
Why do you think that? It's a rebalance. Others lost and you gained.
But how can it be? we will not produce more Steem every day....
We're not creating more Steem. It's just that all the Steem which was being allocated within a small number of posts are being more widely distributed.
We will still have to see the impact of @abit and @smooth's bots being turned off, and any changes in behaviour of normal users and whales though.
Guess we will see the full impact in the next days...
My upvotes are worth 3 cents now! Yay... I have a long ways to go.
Better 3 cents then nothing :)
Indeed, it was 0 - 1 cents up until today.
That can't be real ... can it?
It is!
Holy jeez.....yeah I already made the mistake. It went live right as I was voting on a post, just put a big dent in my vote power. I will vote your post at a more appropriate percentage :-)
Hope they fix it soon, this is Bad!
It seems absolutely insane! All my posts have had a huge increase in expected payout :o
Shit you are right, all my old post are worth now way more!
Oh. I think it is not a buy, as many people's vote value had been adjusted after Hf19. Many of these people had double their income! I think that why your vote value had change! And I think we should feel happy about like as our earning is keeping increase!
Shhhhh!!
It favors you.
Maybe for the moment but, no they have to change it back, immediately!
I'm new here (less than a week), so explain it to me.
Should I stop voting for my own posts now? Just uncheck that checkbox?
Guess this is all so new to us, I can't say yet....
Well, this post is surely favoring you well. LOL
Just upvoted you and gave you $2
Its crazy!
That's gotta be a really big bug! Probably escaped from the movie StarShip Troopers!
hahahaha :) maybe
lol. My vote is worth 4$.
See! This is a disaster!
I was expecting no increase at all to my votes... part from the 4x.
My voting power is running out rapidly. People are forced to reduce their voting strengths.
oh my god.
lol you can just give yourself $27 now for free.
Congrats buddy.
This update has put a smile on my face as well
"lol you can just give yourself $27 now for free."
shhhh don't tell people that, just abuse it first :P
Lol, abuse it several times right?
10 times a day?
As many as you want
Yes and no.... this Bug is a nightmare!
My goodness, I just saw this as well when I hopped on my notice that the payouts on my page were all much higher! I think with this power it will be much more important for people to put out great content, or funny content or anything that truly catches peoples attention. I think that people might be more selective when the vote for stuff on the site. However, I'm not sure how everything will evolve I'm just quite excitied!
They have to change it back, it will drain the System!
OH MY GOD! What can we do?!? Our new found power will destroy everything!
Whoa !! i think that's how it is supposed to work it might be just you have too much steem power and you should be considering less voting percentage ;) !!
I expected x4 for a 100% vote, but now its x30 more or less!
lol i expected 4x aswell but no worries we'll find out what's wrong as time goes by.
Wow that's big
yeah this is not good... I mean I can't say I don't like seeing the steem payouts but I don't think they are right or something is buggin'.
Weird part is some of my post stayed the same but other increase ten fold in payout.
definitely a big BUG!
Oh shoot! Wonder if that was SP or VP or both same time? I checked on my previous comments that were like 0.01 or 5 cents. Almost shot up to a dollar or so.
It's crazy!
Upvote me and lets see :D haha!
Vote you but not with a 100%, just checked my VP, it is way down now....
where can I see how much power I have left?
Read this: https://steemit.com/steemit/@xplosive/some-great-steem-tools-check-your-voting-power-and-your-potential-pending-payouts
If you would like to know how much is your upvote worth then read this: https://steemit.com/steemnow/@penguinpablo/steemnow-com-new-feature-how-much-is-your-upvote-worth
Enjoy Steemit! Have a nice day!
hmm, interesting :D
No bug, the reward will not be empty, just will be distributed within more people, not only the little big whale bunch...
If this is like you said this will be amazing! Then you will see tons of new user's by tomorrow!
Just adjust your voting power bar so you can vote for many people and spread the love! :D
Isn't this how it's supposed to work? If you got the money, you got the power,
and the bitches. Isn't that what Steem Power represents?I guess you could generate more tokens for yourself at the cost of being less active in the community as a curator?
....and the bitches....Like that one :) I could, but I like to be active here at steemit and support the Minnows :)
Heh. Yeah. Me too. I think the system is simply counting with users preferring social interaction over raw money. A difficult gamble I'd say! Haha.
How is this possible lol. Can't imagine that it will stay like that forever. Well enjoy as long as you can boys and girls
OMG! My 100% worth $0.56??? Whaaaat?
Now it's $0.27 only:)
Magic!
What is going on? Nice earnings...
HF19 :)
Amazing! :)
same as mine. i have a low steem power
That can't be real ... can it?
Looks like it is true!
May be it is because of linear voting curve.
I have no idea what it is, but if it's not a Bug and all its ok, than this place will be flooded in no time :)
Person with 1000 SP gives around $0.8 ... So with your SP you can count how much your weights.
Wow... And I thought my newly found 8 cent upvote reward was generous!
Yea you have to reduce your voting power by a lot! Enjoy the moment!
Yeah even with 1% its 40 cents!
I think this is not bug ,steemit increased the voting power of all users.
It's amazing! Unbelievable!
remember you are given a quota of votes per day, so use it wisely, use it wisely
Wise Comment :)
Whats the quota?
depending on your voting power, I think 10 votes per day but i think you can decrease the amount of power to a given post and give more votes per day...I am subject to correct
WOW! I agree! What a big change! This is pretty incredible if it's supposed to be this way? Will it change or is this the way it will be? I'm stoked about it so far. How bout you? Just up voted this one and it jumped almost $5. Crazy but in a good way!
Still can believe it!
@elyaque ... Well that is hilarious .. i was expecting it to be quite different .. they should have only added little power to newbies and distribution as per reputation ... i am not happy with this :(
Well for the newbies its ok, but I am sure this is a bug!
That great I see what I get
My 100% upvotes are worth $4 now. Up from 30c. That's a big jump.
Let's see if it's stable....
Cool!
looks more then x4 to me! My vote was about 1$ before!
its real???
Real!
Remember that your voting power decreases.
I know, just realized it :)
Also, the rewards will go down drastically pretty soon, as the experiment has officially ended, and whales will begin voting again.
Guess we have to wait and see....
To think I was just paying attention to the STEEM price as well. I done the exact same thing! Looked at my blogs for a moment and got a nice little HF19 present.
:)
That's not a bug.
For me it is! This is crazy!
Why are you telecasting error, just enjoy the fruit.
But it is bad in the long run! Rewards Poll will be empty in no time!
I reduced my power for the first time to check it out: 10% gives you 2 Dollar!
Crazy Shit really!
wtf, thats crazy ....
Así que vengan esos upvotes sin miedo! :D :D
:D
Well, can't say I am disappointed..
Hahahaha love the GIF :)