Houston, we have a problem, the Rewards Pool is draining too fast!
I just did a Chart where you clearly can see whats happen with the Rewards Pool after HF19:
And I did another Chart about the Liquid Steem which is looking more positive :)
And I have a Bonus for you today! Talked with @thechartguys yesterday, he is finally here on Steemit, if he can do a Chart Analysis for Steem, and he did! Please give him a warm welcome and visit him here on Steemit !
Whats your opinion about this Charts? Let me know in the Comments !
I had a friend sign up today, I'm anxious to see how long it takes go get approved.
2-3 days normaly
Where do you get the data from?
https://steemd.com/distribution is down. Do you know why?
Its down for a long time, I have no idea why...
Are liquid steem decrease related to poloniex transfert disabled for days?
Could you explain me how the reward pool in steem works?
I thought the rewards pool was a daily fixed amount.
I don't know if the liquid Steem is related to Polo...
The rewards Pool is a daily fixed amount, which is added to the pool daily.
Imagine it like this, the pool has a 1000l in total capacity, every day 100l are added, but 110l gets drained, it's a matter of time until the pool is empty....
so the pool distribute more rewards than what get renew everyday. basically once pool is empty payouts will decrease to the norm.
Is an empty pool become a problem for the distributions of rewards across the network?
I guess if this pool exist , it's probably for a reason.
I also hope the issue resolves itself or rewards gets tweaked a bit before it becomes a bigger problem.
I do trust the developers to find a good solution to benefit us all in the end.
The rewards have been insanely high, I posted about this after HF19. Most of the responses said that was temporary and would resolve over a few days. I've seen my vote value cut in half, but frankly it's still too high. @Elyaque has clearly illustrated this for all of us!
beep beep
This is very interesting, I wrote today that HF19 hadn't had much affect on total payouts, but it seems I was very wrong.
Thanks again for these daily analyses, good to keep an eye on things!
You are welcome :)
Should we be worried?
I am a bit to be honest.... whales should stop voting again, they drain to much water out of the pool, if they don't stop, it will be empty soon, and the party is over.....
that happened once before ...then the long decline into the valley of $ .06
That was a different story, inflation rate was too high, that was the problem that time...
Yeah I hope it will solve itself soon!
Are you on steemit chat? I wanted to ask about your badges. :)
I am, same name...
By party is over do you think people will abandon steem once the reward pool runs dry?
Its still way better than youtube or facebook..
For sure the will find a way out before that happens... :)
Bit worried about the reward pool. It has to be same or at previous level but it is draining too fast and it will cause negative effect on community.
This comment has received a 0.11 % upvote from @booster thanks to: @cryptokraze.
any one may help me on what is rewards pool? thanks :)
Like the name says, it is the Pool where the Rewards coming from, its filled up daily, and all the Rewards which are in the pool gets divided everyday to the users, the smaller it gets, the smaller is your share at the end.... got it?
yup, so does that imply that after hf19, the increase in minnows power < the decrease in whale influence leading to a reduction in pool reward?
Whales did't vote before HF19, now they do....
Steem just went down before you published this, good timing! :D
Just checked, you are right, BTC dropped again so STeems $ price went down too....
Well yes I've noticed that the hard fork did increase my upvote power, but days since it's been dwindling. I can't complain because it's went from .01 to .38 but as of the last few days it's been about .28 witch; I'm still satisfied with:)
I am happy with my upvote too, but if the pool keeps going down like the last days.....
So reward pool will drain & steem will not grow more ?
I just presented the facts, I don't know the solution to it....
I'm saying this in far too simple of a manner, but a likely solution would be to go the route of FB. Sell out to advertising.
Yes they will after the pool has been drain too far.
sounds about right
then steemit will stuck & close in few months.
They will find a solution, as they always do, don't worry about that :)
New accounts have been growing steadily, which will ultimately stabilize the steem price, yes reward pool is draining very fast, whales must again stop curating.
what does this mean for the future of the entire platform ?
You think that is the solution to it, that the whales stop again?
It is very pleasing to know that some of us care and take it upon then selves to bring to us update about how the steem is faring. Thank you for that and I believe you will continue with that
You are welcome :)
Yeah all my posts are dropping Like 50% haha but it's all good 🙌🏼🙌🏼🙌🏼, thanks for the update boss!
Still more then before HF19 i guess :)
Good posting
Thanks for the video very much appreciated.
And I am happy that you will post more :D
You are welcome
what are the consequence of the reduced reward pool?
I wonder if it will disincentivize people on Steemit. It seems like with more hard forks, there are players changing their tactics solely to maximize rewards.
It's not an easy task to manage, but I am sure they will solve the problem....
So, looking at the chart it appears we have a very long runway (time) before this is going to affect things is that right?
No, it affects things already, didn't you notice your vote is worth less?
yeah,noticed the difference in how quickly vote power now reduces but i thought that was planned or read the updates incorrectly. If things go the same way or direction can you guesstimate when steem stops working?
Ok, so what happens when the rewards pool keeps getting drained too fast?? Forgive me, I'm clueless :)
@imwatsi ~ I write poems
Your vote is worth less and less!
Ok, that's not good. But what if the price/value of Steem goes up? Will that offset it?
I've noticed that here recently. Mine went from over a dollar at 100% to less than 75 cents. So that is happening now.
You won't be making any money.
well, thats depressing
Steem is down again.. time to restock perhaps?
few minutes ago it was up 7%
It's down because BTC is down again, but yes buy some it's cheap :)
It's good to have some chart analysis for steem :)
YES!
So has the rewards pool ever been drained like that before?
Not that I know....
my rewards seem lower this week- followed you
Mine too :(
Wow that sucks that the rewards pool keeps draining.
At least liquid steem is still having a good amount of transactions.
It does, let see how that goes....
@elyaque
Thank you for the good information. With your work and posts, we are much better informed.
Thank you again. We all appreciate it.
Francis
Thanks Francis for the kind words :)
You are welcome. I will be looking for your posts and content continually.
Thank you for your upvote.
Francis
I hope that it will go up again, but I'm positive about it))
They find a solution, I am pretty sure, we are still in Beta ;)
Wow, that's a steep drop off after HF19. Maybe HF20 is in the works lol. One thing about charts....they don't lie.
Charts never lie :)
Its happens sometimes ,hf19 changed things here a lot. I dont what will be next ,but I hope to stremit will be back on the tracks. Good post ,keep it up 😉
Top class post. Resteemed because this is very valuable info to know. Any more factors influencing the pool drain besides those mentioned?
At HF 18 the pool was quite balanced, but now with HF19 it drains way to fast, if this keeps going, the Pool will be empty very soon. Well there is another factor which is influencing it, the Whales!, They did't vote before, now they do and get a big % of the pool!
Really interesting analysis. I'm a bit familiar with the technical analysis terms, and this video is perfect for my beginner understanding level..
Glad you like it :)
2000+ in a DAY !?
the growth is more rapid than i expected !
Yes a day!
If it keeps up this way, thats over 500,000+ people by next year !
Very volatile today! Good number of new users again.
Its the BTC again....
Easy: Buy low, sell high. :)
yesterday on my bittrex account,my SBD was so much valued in terms of bitcoin but today morning i was so amazed caused my SBD went down in terms of value.I am afraid about this.
SBD is another story....
but SBD will turn back to normal.I think what is causing all these crash is the fall of bitcoin price
is it like the flash happened to ethereum few days ago or week ago and it came up again in no time !? or this is different issue , sorry am new in this
Thats something totally different, read the comments it explains it....
oh alright I will, thanks for the quick reply elyaque
Nice video .
That reward pool is going down like crazy. They should balance the votes of whales for a bit.
Whales should stop again, like they do before at HF18....
Yeah indeed. But they are voting on their own posts as well for some quick money...
Growth is more rapid than i expected!
its crazy!
Thanks for the update, i am sure people are working on it as we speak!
I hope so... :)
Need to keep watching reward pool.. Great post. Resteemed.
The daily number of the Rewards pool is in the upper right corner, if you haven't noticed ;)
The chart is nice to see... here's the deal as far as says it drains too fast as far as my experience..Yes haha .. but then I like to upvote.. before I had no voting power and now at 100% I have 3 cents, which is better than nothing. So for me I like have something to give people..it does keep me from upvoting like now.. I need to build back up my voting power.. So people can't vote as much..I think they want you only to vote on certain things..
Thanks for sharing today updates. Charts look cool and pro man :D
Thanks!
Maybe this is why rewards is decreasing in my posts
No, thats about the Steemprice itself, remember you get rewarded in Steem , price went down lately...
So once the rewards pool drains out, each user will be paid lesser per upvote? Also why is chart on Liquid Steem positive? Sorry if the questions are too noobish :/
Yes the lower the Rewards pool, the lower is worth your vote! Liquid Steem is the tradable Steem on the markets, the less liquid Steem is on the market, the higher the price will be :) Supply and Demand!
Oh ok thanks for the explanation
This is interesting as I would have thought they'd have already contemplated the results and what ifs of the HF. Seems to me if this is a situation that may in some way harm steemit that they would have seen this and not done it? Who wants to cut their own throat? I think they are smarter than this and in my mind it'll all be OK.
Lets see whats going on in the next days....
I'm just new here, trying to figure out what all of this means, I will get there some day...
thanks for the analysis @elyaque
no prob...
Thanks for the data and explanations. As a newbie, I'm still a bit confused on all of it. As a collaborative system, hopefully we all can figure out to stabilize it. I did expect some fluctuations after the fork. Any suggestions on what we can do to help stabilize things other than the whales voting a bit less?