I have been looking a little at various things around vote dynamics of late and this will continue just a bit, since it raised some questions.
For example, I said that all the people who got votes from me in January when my vote value was $1.50 and held, all actually got 9 dollar votes, because of current prices. This isn't actually true - but it isn't that far off.
Currently, my vote distributes 12 HIVE, 10x a day. This means that at $0.75 Hive, it is distributing 120 HIVE a day worth 90 dollars. Which is pretty cool. Back in January, it was distributing pretty much (for the purpose of this post we can say the same) the same amount of HIVE - but the price of Hive was 0.11, making the total for the day around 13 dollars.
The reason this is the case is that Hive votes don't distribute on price, they distribute on stake and that stake vote value depends on the size of the rewards pool (which is shrinking a little each year) and how much active stake there is drawing from the pool. However, the price does matter.
For example, using 10 HIVE as the vote value base,
Back in January when Hive was 11 cents, it would distribute @1.10 worth of Hive.
Curator gets 5 HIVE and the Author gets 2.5 HIVE and 0.275 HBD. This is 55c each.
Fast-forward to today's 75c HIVE (and all other things remaining equal) and the HIVE portion is the same 7.5 as is the propirtion of HBD.
7.5HIVE x 75 cents = $5.62
2.5 worth of HIVE in HBD = $1.87
However, I was saying that back then the equivalent of my votes for the holders were 9 dollars or whatever, but only the HIVE (HIVE POWER) portion has increased, as the HBD portion is still worth about the same of 1 dollar. Though, this isn't quite true either, as HBD (if I remember correctly) was below 1 dollar at that time and now it is 20% above 1. So technically, 75% of the January rewards if held are worth about 700% more and the 25% is worth about the same as it was.
Still, this is pretty incredible in my opinion and I am enjoying having the additional value to distribute and I am sure I am not the only one. For example, I remember maybe almost two years ago talking with @slobberchops in a comment chain, saying that I am looking forward to the time that he is able to really feel his vote value doing something significant. At the time, I think he had a vote of around 60 cents or something - which is significant for many, but considering he had bought a fair whack of HIVE over the years, isn't that much.
With 160K HIVE POWER now, at full power he is distributing nearly 70 dollars a day in vote value, which is £50 worth or £1500 a month. That is (supposedly) 75% of an average salary in the UK. As he gets curation returns only, he is distributing 33% of an average UK salary a year at 75 cent HIVE. At 2.25 HIVE, his curation will earn him an average UK salary and the total of everyone else he votes will be another average UK salary.
Back in January, he was distributing £210 a month or, 13% of an average UK salary.
How fucking awesome is that?
Now of course, like I was saying in my Pennies on the dollar post, "time" is the thing that makes all the difference in what kind of value someone is able to generate. While a lot of people want HIVE to "go to the moon" and this is great for reward distribution, the ones who will really benefit are those who earned and held in the past. Because of the way platform and social dynamics work, the best time to maximize earning of HIVE is when price is down, as people consolidate their votes to increase the sense of significance. As price climbs, they reduce the vote percentage as the value is significant, while using less vests.
Everyone looks at the vote and payout values, but when it comes to thinking about how the platform operates, vests are what are important.
However, what I would really want to reinforce, is that solid participation makes a difference in the long-term view of things, even if the "daily" pay isn't worth it. For many, spending some time here posting and engaging isn't going to pay their bills, but that doesn't mean it won't be significant in the future. All of those 6 cent votes on comments I have distributed for example are now worth 42 cents and some people have got hundreds of them, because they were here each day, reading and joining in on the conversation. for those who enjoy the process, this is a pretty amazing bonus considering that for example from the last year, they might now be able to buy themselves a decent TV or new laptop, for free.
Wouldn't be awesome if you will never have to pay for a laptop, TV or new phone again - just because you enjoy consuming content? Wouldn't it be even more awesome if you are part of the reason thousands of people have improved their quality of life by providing them with some value too?
I know that many people at least believe and act as if they have to live off their rewards - but it is like any income, if you aren't putting anything away and you lose your "job", you are in for a pretty rough time. Hive allows for putting away and simultaneously supporting others to do the same. A lot of people feel that they are entitled to extract value, but have no responsibility to give back to the community that has supported them.
People want a better world - but expect that others will pay for it.
Hive has so much potential to become a place where many communities can reside and not only distribute, but generate value and most importantly, encourage ownership and responsibility - two things that have been systematically conditioned out of many of us.
These posts might not be interesting to everyone or some might concentrate on the details (or lack thereof) and miss the point - if there is a point. The idea for me is to develop a mindset that is able to understand the larger view of parts of the world and act appropriately, rather than focus on acting in narrow circumstance and failing to meet the bigger picture.
As some people struggle to pay their daily costs - people in the same situation are making moves to get out. The difference is in their behavior, not in their circumstances.
Small moves, mount up.
Taraz
[ Gen1: Hive ]
Posted Using LeoFinance Beta
You know what I'm going to say to this :D
for those that don't know what I'm going to say to this, it's something along the lines of even if you're earning cents here it's still more than you would get posting on the older socnets
But cents are not enough!
People seemingly prefer hearts and thumbs.
Feels good to feel like you have "clout" I guess (that's what the cool kids are calling it these days).
Or when your hard work finally pays off and companies start "sponsoring" you (ie sending you products to place or you give them shoutouts/say some nice stuff about them in your videos).
And there is also the usual to contend with, while crypto is slowly mainstreaming there are still people who are smugly wqay too smart to be "tricked" into believing it can possibly be anything other than the absolute scam that it most definitely is.
Only vaguely related, I had a conversation in the car last night with my eldest and saying it was a shame his games couldn't integrate cryptos as he would most definitely be rich by now. He then launched into this huge thing about how the game economy (both internally and externally) would have to change to accommodate something that was actually worth money and I only barely understood what the actual hell he was talking about (plus I was driving which never helps) but as he was rattling on I was thinking he could have great chats with you and J about this XD
I had 175K yesterday but am freeing some up for the up and coming Chaos Legion expansion. I always feel a little guilty when powering down, it's a strange thing to feel I know.
Yeah, me too. The Hive pump means I'll need to move less over, to hit my target number of packs, so the cut won't be as deep as I planned, happily.
I'm looking forward to pumping some stuff back into Hive in the medium-long term.
We are having a little lull since all the excitement (in prices), even at those massive prices.. PLOT is still tempting. Is that madness?
Go hard on plots. Anything under $1K is underpriced.
I know the feeling. I started my first on Hive a couple days ago for much the same reason. However, I am trying not to feel bad, as I have powered up almost 200k since the start of Hive.
I'm actually glad that you both said that because I could look at it and wonder is you both were leaving, which at this point is impossible to even think. I think that's a great idea and I'm pretty sure there's a few others that are doing it!
I'll power most of it back up, I have far to much invested in HIVE to leave!
Tell the truth! Just like me, you love it!
There's nothing like here!
Exactly!!! Not to me. After tsumi circled the platforms and have never found anything like it. I will say that it's too bad let the other place went to the dogs, because adored it there, but the drama and the Bots were too much. Oh yeah, and Justin.
I am not going anywhere - just would like to ahve some liquids. If it is a very high peak, I will sell, wait a year and use what I sold to come back a whale :)
I had learned from the best of you and I had a big chunk in liquid for almost a year and decided I needed to grow more and rolled it back in. I need to do that again and take advantage of the pump and dump. Of course I'm glad that you two are not going anywhere. :)
Is it? The inflation rate is shrinking a little each year, but that’s not the same as the rewards pool shrinking.
It is well out of date numbers-wise, but good for a visual of the dropping rewards pool.
I think a lot of people have forgotten about this, or never knew.
We are in year 6 now I think - so next year it will be slightly smaller than this year. But 5 years from now, 20% smaller, 10 years from now 60% smaller.
I don't know what it is with the current numbers, but I would assume that @demotruk has an idea.
Edit: Once it hits 1%, it starts to climb again, as the rate stabilizes and it is just growing based on the supply.
Come to think of it, this might be near impossible to predict. There's a known "de jure" rate of inflation that decreases by 0.42% per year, but the "de facto" rate swings up and down depending on what's going on with HBD conversions.
Yeah, it is more a rough guesstimate than anything else, but it will start decreasing in size at some point.
I think it is this year that it starts retracting. Might be next year too. In the hypothetical world, when it hits the 0.95% it would have been something like 7m Hive a year.
I will have to check. There was an old post from 2016 showing the progression. Of course, it gets out of whack with overpriced hbd and conversions etc. The stabiliser has brought the additional supply down a fair bit though.
An informative post again. Right, when the price of HIVE hikes, less HIVE coins are distributed; and when hikes vice versa.
I have never looked from the aspect you mentioned above, buying a TV or a laptop with the curation rewards in a year. This of course induces the feeling of getting bang for buck. To me, firs is to take part of the HIVE blockchain and enjoy, the rest will come out somehow. As you say, as I always say; HIVE is a long term investment.
No. The pool remains the same - but people adjust their vote values quite a lot. I might give people a 100% vote today - but it would be rare if I had a 100 dollar vote. This means that they will effectively get less HIVE, but that Hive will be spread further. instead of on one 100% vote, I might do 5 20% votes. Five different posts will get rewarded.
Yes, I meant that, voting scale.
Why om Earth would we want to condition people to shun responsibility 😫 That's just asking for the bad kind of chaos!
Yeah, I never understood why people want to see a project take off - when they have maybe $10 in tokens?
If people don't take responsibility, they are easy to direct and control.
People say they want projects to take off because they want the votes (on Hive). It is like saying "you're pretty" in the hope for a kiss.
It might make people easier to control, but it would also make them a pain to get to do anything. Would you rather teach a dog to shake hands, sit, and lie down, etc or a sheep?
lol who upvotes someone for wishing the price to be higher?
They don't want most to do anything, just work and spend.
Such a waste... Each person has so much potential!
I actually did not know that the rewards pool will continue to shrink. Now I'm going to have to go back and look those.
I still find it pretty cool that I can vote more than a few pennies. It feels good!. I cannot imagine how it feels to be significantly bigger. I suppose it just feels better and better. :)
It is a bit weird to vote really high at times. I remember having about an 18 dollar vote when Steem was very high and it made me uncomfortable at times - even more so as at the same time, I was struggling to put food on the table. :)
I remember when Steem was high and I was able to buy more tipu and banked it for the future. I was rolling in it. :) Eighteen dollars? Hello? Amazing!! And awesome!
I guess I understand what you're saying, making you uncomfortable at times especially when you leave you your Steem persona and step into the harsh reality of life. Trust me, when I get votes that are more than 50 cents, I get giddy. And feel like a newbie, all over again.
Occasionally I like to give a full vote which is now over a dollar, prior to today, and give to a newbie to the #MarketFriday community. It makes me feel good, especially knowing they truly, truly appreciate it. It is fun watching somebody grow.
Everybody has their way of using their voting power and I need to figure out a way to manage it. I spend so much of it voting the #MarketFriday posts, sometimes I am 40%. That is bad management.
I am enjoying giving bigger votes these days and keeping the vote values the same and not reducing them. I think it is great to offer more support to those that are here every day and helping them grow. Obviously if the price goes much higher then adjustments will have to be made but for now the rewards are well deserved. I actually think this is brilliant being able to earn what is now a passive income for many who stayed active over the last 3 years.
Posted Using LeoFinance Beta
I have been doing the same for the most part and still doing the 5% comment vote. It is cool to give close to 50 cents!
As the ecosystem of hive gets bigger there are now many ways to earn-in, as well as just blogging. For me, a Hive is a Hive is a Hive no matter the price. I just want to compound it to increase my share of the percentage of the network. It is a game and a hobby and someday maybe a passive income but for now, it is still planting and fertilising time.
It is a nice feeling to know that with a vote of around 32cent I can buy someone a coffee but if they are smart that coffee could one day be a four-course dinner.
Yes. I agree and while it is nice to see some action (and that it didn't dip too hard today), overall, there is a long way to go :)
And yeah! It is pretty amazing to think that with a little time, people are going to be able to afford things that were out of reach - just from a vote or two :)
Discovering you has to be my highlight of the week.. the knowledge you share here is so impeccable. So kind of you. Now, I have an idea of what to do and what to expect and of course how the up vote and hive power works. So much for being a newbie😅
I am glad that you enjoyed it :)
Certainly friend, while we have better income, we should have a better quality of life, although it does not happen in all cases, but whoever knows how to take advantage of the situation is really lucky, and of course, to be able to enjoy the benefits, it is necessary to invest time and money , you are lucky to have made an investment on time. congratulations...
I came in here with nothing but a mind and some work ethic - I have learned a lot in my time.
It’s obvious hive has been climbing up the scale and as much as people want to hold on, it’s tempting when they see how it’s rising.
Many of the people who need the most, will sell the earliest. it is the way of the world it seems.
Usually I have strong faith on hive .powering down does not seem good for beginers if they want to build their account foundation . one day hive will be trading $5 dollar and you will love to see your hive power worth many X value.
It is terrible for beginners to powerdown, unless they really know how to trade. I have powered up so much over the years, I don't mind powering down a little :)
We soon see how year end works out 😎😎
Are you feeling positive yet? ;D
Excuse me, sir
What is vest? And why is it important ?
Vests are how the blockchain sees Hive Power.
Why did you say it's more important than the value generated from the votes?
Because it it vests that dictate how much HIVE is distributed, not the dollar vote value.
When it comes time for me to learn and convert to Fiat to spend and play with, the only part that will be used will be the non-auto powered up stuff. Right now HBD, in the future we may get Hive payouts again also. I would hope I would also have the stamina to put 10% of the liquid earnings into savings, thus increasing my continued account growth potential while still taking some out. But that is thoughts for another year.
I think you might need to adjust slightly for this year too - as it might be that taking a little and trading, back later will work out very well for you. Something to think about at least.
I keep thinking about sending some to Ionomy and buying some micro ETH again, but with this last spike it seemed that Hive did better percentage wise than most of the others, and has not really dropped back much. But I do need to boost my Hive-Engine fun fund.
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STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz:
thank you for sharing such interesting content, it has taught me a lot because I have gained knowledge of how voting and comments work. now I will be able to manage the platform with more security.
great and amazing photography
I know - but the post isn't about the picture.
I'm sorry for writing the wrong comment @tarazkp 🙏