I suspect many people don't know how to calculate what they will receive for post rewards. The calculation is pretty easy but is hard to visualize in your head looking at the Steemit interface. It also varies dramatically as the price of STEEM changes.
I will show you how to do it manually so you can do it for yourself. Teach a man to fish...
So how do we take this, and turn it into SBD/SP rewards?
If you are doing this after a post has been paid out, you can click the post rewards and get a breakdown of exactly how much a post has paid out to the author.
Otherwise, you will need to guess what the curation rewards will be. I mentioned before, the average curation rewards are much closer to 16% than 25%. You can use any number you are comfortable with but the first thing we need to do is to remove the curation rewards from the post total.
Calculate the total author portion of payout
170.41 x 0.75 = 127.8075 or if we use 16.8% we get 170.41 x 0.832 =- 141.781
This gives us the author portion of the post rewards minus the curation portion. As everyone knows, author rewards get paid out in SBD and vested Steem Power.
Calculate the SBD portion of reward
So the next step is to figure out the SBD portion of the rewards. For this, we divide our post curation author rewards by 2.
127.8075 / 2 = 63.903 or 141.781 / 2 = 70.890 depending on what you use as your curation %.
This is our SBD reward, either 63.903 or 70.890 depending on what % you used for curation.
Calculate the vested Steem Power portion of payout
To figure out the vested Steem Power portion, you take the SBD reward and divide it by the current price of Steem. As you get paid out in the USD equivalent of Steem.
`63.903 / 6.49 = 9.846 ' or '70.890 / 6.49 = 10.922'
How did we do?
Our end result is 63.903 SBD & 9.846 Steem Power or 70.890 SBD & 10.922 Steem Power depending on what you used for the curation percentage.
You can see our calculations were dead-on when factoring in roughly 16.8% for curation rewards. You can also see the average curation rewards from my previous post was also right on the money.
Hope this helps understand how things work a little bit. Any questions, just shoot them in the comments, I'll check them out.
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Yeh !
I've created a little app to calcul and explain the process.
https://utopian.io/utopian-io/@evildido/a-simple-app-to-estimate-the-real-reward-value-of-a-steemit-busy-contribution
Nice! I checked it out, I would suggest giving a clearer picture of the real numbers.
The final SBD/SP. The USD value is great, but having a clear result of what SBD/SP would be would make it easier to understand and more useful.
Thx ! You are totally right. In fact, I have already made this one in another post (in french) to explain how to choose the reward method.
https://steemit.com/fr/@evildido/chronique-d-un-witness-choisir-son-mode-de-recompense-et-autres-bizarreries
As you described in your post, I would like to create a tool estimate the author reward based on the post reward but I still don't know how to calculate that.
You would need to calculate all the votes in the first 30 minutes. (Soon to be 15 minutes when the next hard fork lands).
yes but I'm a noob and I don't have enough time
Awesome thanks for sharing!
an application is great but I like it more in this way, more basic and safe.
There is nothing risky with his code, you don't enter any private keys or anything. Just enter a number and it calculates it.
The tool is opensource and under MIT licence.
You can download it and look the code (is pretty simple. Even me can understand it :) )
Thanks very good post!
@themarkymark This website will do it for you.
steem.supply
Best of wishes! Steem on!
Very familiar with the site. :)
I was just going to comment and ask if there is a tool to help with this! Good job!
Thx.
As @themarkymark said, it can be a good thing to add the final price SBD to STEEM (in order to help steemians to choose between 100% and 50/50).
I think it would be a good idea to note that the next HF will change it so your early self vote does not reduce curation rewards.
The portion that would have gone to you will instead be sent back into the rewards pool, and curators will see a larger percentage.
https://steemit.com/steem/@steemitblog/hardfork-20-velocity-development-update
I'd love to see that. I started doing whatever else is doing is upvote themselves since I only post 1-3 times a day and I spend a lot of time on them. I don't want to wait 30 minutes and remember to come later, so I just click the checkbox (which is defaulted to check but I refused to do it for the first 5 months I was here).
The new change to 15 minutes and the leak to reward pool will change things dramatically. Not 100% sure how I feel about it and if it is the best solution, but I do like the cut from 30 minutes to 15 minutes.
There is a lot of talk about increasing the curation %, and I think this will happen eventually. As it is right now the 25% is more like 16.8% on average.
Curation was 50% at one point in time.
I think that if the rewards more accurately reflected 25% instead of 16.8% like you pointed out- it will be perfectly fine.
However if it is increased more than that- I believe it will even further encourage circle jerking onto just a few posts for pure profit.
Thanks for the info, very useful for people like me on his first month on steemit. 😁
omg @themarkymark, this is wonderful and very unique article and it helps me alot, thanks for sharing great information with us
Thanks for tell us method of calculation
Did not know that Thanks for the info Helped me to calculate!
Thanks for share @themarkymark
Great tutorial bro.
Some of the information was unknown thanks
Thanks for share dear
Good post...thank for info...
Thank's for the information
Oh this has cleared what has been bothering me because I don't know how to calculate my rewards before but thanks for this useful information
thanks for info. good luck
ty, money was raining down with the high SBD value ... now i think you need a return of over $2.40 for every 1 SBD thrown to bots, before curation, to make a return.
Thanks for sharing Mark! Have a great start to the week :)
Gosh!!! Did not know that Thanks for the info Helped me to calculate!
Great information, great post thanks a trillion
Now i know how SBD and SP are being calculated.this is a wonderful run down ,step by step method.thanks for adding knowledge to my horizon.
This the info I've been waiting for thanks @themarkymark sir for explaining.
thank you for sharing, now i know where the reward goes and how it turn to SP and SBD. Thank You
Indeed YES!!!
So basically the reason why I was getting paid low Steem Power was because it was divided by how much Steem in USD is worth. Whoa, couple of months ago it was somewhere within 0.97-1 USD, that makes total sense. Thanks for enlightening us, upvoted your post and am still following alongside that Firefly gif you got :P
:)
Thanks for this i will check it out
..kindly follow and upvote my post and i will do the same
https://steemit.com/fact/@dimples/fact-001-educative-entertaining-and-motivating
I've seen a few computations like this, and it's great for estimates. But I would like to see the UI/tools just do the split from the beginning (rshares, reward pool, beneficiary+curator split) so it's accurate. Also more people are using services (dtube, etc) which have beneficiaries so that would need to be taken into account also. Well of course steemit does to give us that number but it should be easy to tweak to show estimated split.
That said, this is a good thing that more people should know about.
what's the difference between the default 50% 50% and 100% ?
and why you don't get to shoose between them in comments?
100% means you put 100% of the rewards as Steem Power and do not get any liquid SBD. 50/50 is what I explained in the post. While SBD is high like this, 50/50 is the ideal payout.
I will have to come back to this post which I'll start making something .. till now I think it doesn't matter as payouts are not that great!
I thought 1 steem = 6 dollars not the opposite !
Haha no calculate those rewards into USD for me ;)
Vero good explain..thank you @themarkymark!
Ok, good stuff and down to the basics, this post should truly help loads of people. Thank you for taking the time to prepare and post it, but as you must have guessed there should be a follow-up. on stuffs like...powering up or down of your earnings after you must have calculated and known what you get. what next. waiting for it. ;-)
Like it. This is the simplest way you can calculate your post rewards. However I found this strange thing on my post: https://steemit.com/utopian-io/@siddartha/translating-project-electron-to-hindi-1088-words-2
It gives me less than 75% of the post rewards!! Isn't it weird?
Utopian-IO takes around 25% cut, and it will show up as curation portion.
Hmm, then it is even more strange. It was $30 till the post payout period end. And then turned $24 afterwards. I thought Utopian has already taken those $6!
Great post @themarkymak! Thanks for sharing with us!
This was helpful to me as a new Steemian. Thank you
these tips were so useful, because I was confused on how to calculate my posts reward. thanks, for sharing with us
wow its a grate post.. its a useful post and i learn many thing from your post...keep it up.. @resteemed
I wish I could calculate with that big numbers ;-)
Thanks! This is just what I needed. Great post.
Nic post
Excellent post. I wish more people dug into the math like this!
When i create a post, i calculate (roughly) how much SBD i'll get simply by:
Rewards * 0.37
More or less, it will be that. That way i never get frustrated. :)
Now that was quite helpful. I have a better idea to figure it out now.
This is super helpful!! I always calculated it based on the 25% curation, but knowing it is lower than that (and actually closer to 17%) has helped make the estimates much closer to reality!
Yeah Same Here!
and 63.903 SBD actually means $502 at the current market rate for SBD?
I was just pointing out the SBD & SP values.
OK COOL!
16.8 baby! Yeah thanks for doing the research to figuring that out. Learned that from your previous scavenger hunt.
Question though when dividing post reward over "current steem price", where is that steem price coming from? Thanks.
was the price at the time of that post payout
Apologies for all these stupid questions but is that not the feed price of the witness who creates the block? That is time of that post payout. Thanks.
The price is determined by the consensus of the top 20 active witnesses
thanks!
Makes so much sense now. Thank you for sharing :)
Still am in love with Steem Supply, even though it seems to be struggling a lot to keep itself up lately.
Whats that?
A platform to check various stats with... google it :)
Thanks are you into personal development?
Thanks so much for this...I keep getting the numbers wrong. On my way to test it out on one of my own posts.
Very nice of you ;)
are you into personal development?
Please Like My posts I liked you
Very useful post! It will help me be able to explain Steemit better to others. Thank you!
Thanks this is useful information!
Thank you for the formula.