Do you know what happens when you give someone an upvote? Most people don’t, so I figured a tutorial post about upvoting could be useful and how YOU can make the most out of your vote.
What happens when you give someone an upvote?
As you know, from the moment your post goes live, you can collect upvotes. A week later you get payed out. You get 75% of the value and 25% goes to ‘curation’.
What is Curation?
Curation is 25% of the reward pool on that post. Your share of curation depends on the size of your upvote from the total reward pool.
So you can earn something back by giving someone an upvote.
Beware, curation although displayed in $ is actually paid out in STEEM POWER and the $ is not USD but SBD.
Upvotes are indicated with the green 'arrows-up' and the amount next to the arrow indicated the total reward pool of that post.
What do I get back?
The amount you get back is based on 4 factors:
- How much did you upvote of the total reward pool of the post?
- When did you make the upvote?
- When have the ‘big’ votes come in?
- How many people have voted on the post?
Let us make this example to explain this:
My vote was worth 1 SBD and the total value of the reward pool is 10. That means I voted for 10% of the total value and thus also receive 10% of curation rewards.
If the pie represents the total reward pool of the post, then the author receives 75% of it and 25% goes to curation after 7 days
Based on our example above you would receive 10% of that 25% for curation
This would be true, if it wasn’t for the time factor. If you upvote someone 1 minute after they have written the post, you get 1% of that 0,25 (0,0025) and the author gets the other 99% (7,7475). This cascades over the first 30 minutes of the post going live. So if you vote in the 29th Minute after the post going live, you get 99% (0,2475) of that 0,25 and the author gets 1% (7,5025)
What also has an impact is when the big votes come in, this will impact the amount you get depending if you voted before or after those votes were made. However I don’t know how that’s calculated. Maybe someone who’s reading this post can help me with that explanantion and I’ll post edit it into this post.
Finally, simple maths, but the more people who vote the smaller your share will be, especially if their votes are worth a lot.
For new people it's important to know that you do not receive the value of the post as you see it at the end of the 7 days, taking all those factors into consideration. Many people have indicated that they want to receive their rewards at the end of the 7 days as 50%/50%, this means that you will receive 50% of the 75% in SBD and 50% of that 75% in STEEM POWER. For the actual conversion rates, please refer to the steemit market.
Here you indicate how you want your payouts to be done
Also, don't forget to regularly claim your rewards, by going to your wallet and click on 'Redeem Rewards', if they remain sitting there you're not improving your STEEM POWER or earning any SBD's:
Conclusion
I hope you understand now that random voting is not beneficial and is also very time-consuming if you just vote on random stuff. Vote on people and articles you like, the system is setup so that good authors get rewarded and poor authors also get what they deserve.
Look out for groups of likeminded people as they will be more prone to vote for your articles and if you want each other to benefit, also use tools such as @qurator, steemvoter and streemian. I will explain more about these services in another post.
Make your vote count
There are a lot of people on Steemit who use bots to buy votes and thus appear higher in the trending rankings. If you are careful with your voting power and you would like to earn a bit of extra income by selling your upvotes to non-spammers, I recommend you to use Smartsteem. I let them use my vote whenever my Voting Power is higher than 89% and a few times a week I get paid out in SBD!!! Over the month of February I earned 8,748 SBD this way.
Those are all votes I've made today through Smartsteem and I will receive payout over the next day or so
Feel free to use this referral link to register: https://smartsteem.com?r=wolfje
How does Smartsteem work?
Smartsteem is a clever service developed by @therealwolf (great guy with a boring name 😉) to offer services to serious people here on the Steemit-network. You can purchase upvotes, delegate steempower and much more. My friend @felander has made a great post about the benefits of Smartsteem over other methods of delegation and vote buying/selling. Each member gets personally approved by @therealwolf so it's all serious steemers who benefit from this system.
I hope this post was helpful for you and feel free to comment or even add. I will edit this post where needed.
On a final note, be on the lookout, it’s March so a new competition is on its’ way.
Thanks,
Doron
Coool post.
Thanks
tnx for the post.
is there a time frame in which you get the votes from smartsteem?
is it before or after the 30 minutes?
what future lies for steemit if all posts will be voted by payed automatic votes bots and not by real users?
Thanks for your questions, let me anser them separately:
If you purchase votes from Smartsteem, it depends on the voting rotation of the bot. Generally speaking each bot pays out every 2,4 hours. I have done a post about how to use voting bots last month after a particularly nasty experience. This is the link to that post. So the timing can coincide with those first 30 minutes, but doesn't have to be. If you go to https://steembottracker.com/ you can see how long it takes before a bot pays out. Off course it's in your benefit if that is as close to the first minute as possible.
About the future of steemit, thankfully there are plenty of sincere people here and people who write great stuff and those people still get success based on what they post about. Those people don't need bots and also inspire other people, how to write and what to post about. I also find that posts like this are much more sincere and successful than my bnwchallenge. Sometimes it's difficult to have inspiration to post daily, but for that I refer back to groups with likeminded people and qurator for instance who help you with ideas.
I truly believe in the sincerity and success of Steemit. The system is setup so that good authors get rewarded. The only hurdle is to gain that initial following.
Good, understandable and sensitizing explanation of what we can do with our upvote. I think the main sentence is:
"Vote on people and articles you like, the system is setup so that good authors get rewarded and poor authors also get what they deserve."
Sometimes we may not achieve the best back by our upvotes, but we will sustain a good author!
I also personally think bot are ok but should be used with consciousness. They have negative and positive points, and a lot depends, as in many cases, how users do use them....
There are also bots that serve certain purposes, like @isotonic. I always make a point of using that one.
Right, there are bots that are for a cause like that one!
Hey @wolfje,
thank you for the great post! I remember the days when smartsteem was still wolf's voting bot and you were one of the first users ;)
I'm glad that you are still on-board!
Off course, you've been over-reading some of my responses perhaps in the past, but I'm still there and a big fan/supporter. I like the help each other concept. Please keep it going! We need to build a strong community here, only that way we keep it fun for the sincere people here.
This was a really great explanation of the upvote. Thanks for taking the time to clarify it!
Anytime, if you have any other things you would like to know more about, feel free to ask and if I see there's a demand for another post I'll do that as well.
I understand the upvote process, but I don’t understand smartsteem at all. I don’t see how to grow or how people use my “delegation”. I’m willing but just don’t understand.
Ok, there are a few steps:
This is random and depends on the amount purchased by the other person.
Does this make any sense?
It does now thank you.
Let me know if you have more questions. I'm always looking for inspiration for more posts.
Hey @wolfje, gotta love Steemit! Still awesome platform and community and it's nice having great people contribute so we all benefit. Keep up the good work! Cheers!
I love it, I have to admit that! I'm trying to engage myself to help build a community here, I hope with posts such as these that I can do that.
A great post, thank you for the insight.
Thanks
Despite not being able to vote on posts, always make sure that your comments is seen in and educative and that they make use of their voting privilege. ... Voters play a central role in shaping the community @steemit and their very futures. They can satisfy their duty as voters by observing its important responsibilities.
Why can't someone vote on posts?
A good summary of voting basics! :)
Hmm.. contest is close. We'll see what would be the topic :D
Stay tuned, I have some ideas, but I haven't had that 'PING' yet 😉
Thank for information sir,enjoy article now I can learn something from your blog...one again ...thank you sir
You're welcome
Honestly I didn't know much about the importance of the timing of an upvote and that big votes would influence it too! Thanks for this detailed post!
Glad I could help!
I just upvote for you☺
Thanks bud, I really appreciate it. As I mentioned in my post, your vote is important and has power, if you give me your vote I know you're giving me something from yourself. I really appreciate it.
Good post. Thank you for sharing.
Thanks for reading it and I'm glad I could pass on some knowledge.
You got a 1.37% upvote from @buildawhale courtesy of @wolfje!
If you believe this post is spam or abuse, please report it to our Discord #abuse channel.
If you want to support our Curation Digest or our Spam & Abuse prevention efforts, please vote @themarkymark as witness.
You got a 48.78% upvote as a Recovery Shot from @isotonic, currently working as a funding tool, courtesy of @wolfje!
@isotonic is the Bid Bot of the @runningproject community.
Earnings obtained by this bot, after paying to the delegators, are fully used to increase the SP of the @runningproject from which all affiliated members are benefited.
Check @runningproject posts in order to know further about.
Really good explained!
Thanks, if 1 person understood what I wrote, then I'm glad I could help 1 person lol
You got a 3.33% upvote from @postpromoter courtesy of @wolfje!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
This is incredibly valuable information. Thank you so much for sharing and educating.
That was such a helpful article. Omg, I still have so many things to learn about this platform but it's so interesting!
Fee free to ask questions, I can always do more posts if a topic needs clarification.