So I have noticed that some of my posts keep increasing $$ value even though the numbers of upvotes has not changed.
I also noticed that then over time the $$ value dicreased before I could claim the rewards.
Does anyone know why? Am I doing anything wrong?
*** If you find this post interesting you can upvote so I know this is the right direction to take, you can resteem if you think others might benefit or comment to share feedback or constructive criticism ***
Worry about the things you can control and forget about the rest. Just keep on posting. And steem on!
There are 2 major points that will impact the number that you see in $ rewards.
the rewards pool: the way you make money on steemit is that some steem is newly created every day, and the given to the people that receive upvotes. That amount is fixed, so if people with a lot of steem start upvoting more than they used to, then the absolute rewards decrease, since you have to give the same amount of money to more users. Currently nothing like that is happening, which leads us to reason 2.
The amount of $$ you receive is a function of steem price. The more steem price rises, the higher your rewards, and vice versa. You can see the steem price here https://coinmarketcap.com/currencies/steem/. To prevent market manipulation, rewards aren't calculated on the real time price of steem, but on an average of the last few days; you can check for that here https://steemnow.com/ (upper right quadrant). As you can see, steem price is 1.10, but the average of the last 3 days is currently 1.05. Overall, steem price has been down last week, so that's why your rewards, and everyone else's rewards are going down. That's jsut how steemit works :D
That is very helpful :)))
Do you think I should buy Steem as well to gain more rewards with my posts?
The estimated value's fluctuate because of fluctuating value of Steem.
Yesterday a lot of crypto currencies went down for a bit. Steem too. So the reward value of your post decreased.
But you still get the same amount of Steem.
So if Steem rises again. The reward should rise with it.
right! I had never noticed before!!!
thank you so much.
Do you think I should buy Steem as well to gain more rewards with my posts?
if you buy Steem (and use it too power up) , then the Voting power of your account will increase.
Your voting power is expressed as 'SP'.
Which is currently 32 for you.
You can check your voting power on https://steemd.com/@fra4891.
According to my best knowledge, your up-vote becomes worth a penny when the SP is around 70.
For every SP, one Steem is needed. This means that you need to buy around 40 Steem. In order for you to reach that penny level.
So what i'm trying to say is: you aren't going to get rich by upvoting yourself..
Then their are two ways left to make money with Steem:
I'm not a expert on stock markets and investing. Though I learn a lot from @cryptopassion . So if your are serious about investing, you might want to read some of his blogs.
Thanks for the in depth explaination @fechaugger I will be sure to check out @cryptopassion too