BREAKDOWN ON HOW MUCH I EARNED ON A POST THAT HAD $407 IN EARNINGS

in #steemit9 years ago

Here is a breakdown of how much I earned off my post that said $407 dollars.


So I was really excited about my post hitting $407 dollars. The truth is I didn't receive all of that money. This money gets split in many different ways. Rewards are distributed between the author of the post, the curators, and authors of the parent posts. So that $407 dollars was split across a bunch of people. The amount I actually receive gets split between my Steem Power and Steem Dollars. Steem Power gives me more voting power in the system as well as accruing annual interest on it. Steem Dollars are equal to US Dollars in value, and also collect interest. So when I checked my wallet I received about $25 Steem Dollars and then rest went into my Steem Power.

So out of that $407 I only received $25 in Steem Dollars. Then I went to the market place and sold my Steem Dollars for Steem. This amounted to about 7.4 Steem coins. I was then able to transfer the 7.4 Steem to my Poloniex exchange account and sell them for Bitcoin. By the time I transferred my Bitcoin back to my wallet I had earned about $13 dollars of Bitcoin.

So again, after having a post that earned $407 I received about $13 dollars of Bitcoin and at the same time increased my Steem Power.

It is a confusing system but after doing some research it makes sense.

Here are the few articles that helped me understand this.
https://steemit.com/steem/@liberosist/steem-steem-power-steem-dollar-101
https://steemit.com/help/@lostnuggett/so-i-converted-my-steem-cash-to-steem-in-order-to-power-up
https://steemit.com/steemit/@ninjace/how-to-transfer-steem-dollars-from-steemit-account-to-poloniex

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I can't see any post of yours that has $407 beside it. Could you please give us a link?
In your post history here:
https://steemit.com/@
the largest payout has been $43.29 and so your share was right and you are needlessly spreading FUD.

It said $407 and then when it paid me out it changed to $43. Is that normal? It was basically $300 for hours, then when I woke up it was $407 and had 20 minutes until payout. It switched right after payout....

LOL! Terrible...its all a rake...just like a bank, but even worse! Margins are terrible guess only value is to hold. virtual currency

Try investigating his story a little before forming an opinion. What post of his supposedly received $407?

It said $407 and then as soon as it paid out it changed to $43.

Not lying I literally watched it for hours before I went to bed.

That is really bad. It should not be that far off.
As a new user, what would have made the experience better?

  • no reward displayed
  • an estimate that was close
  • an estimate that was less

I agree, I didn't really understand it. That is why I had to do so much research. I didn't realize how it actually got divided between everyone. I still think Steem is awesome and I want to keep growing my account.

Thanks for the breakdown