PSA: The Switch to STEEM / SBD Payouts for Steemit.com Post Rewards! (as of v0.14.2)
It seems that without anyone announcing we've slipped into a new payout regime for post rewards on the STEEM network. This post will get you up to speed on what's going on.
STEEM Backed Dollar supply is over > 3% of the STEEM market cap currently!
Meaning...
Payout rewards have shifted to roughly 20% STEEM / 30% SBD / 50% SP on posts.
These STEEM payouts for posts aren't reflected in the wallet as of yet!
Steem v0.14.2 Patch Notes Info
Steem Dollar Stability
Added functionality to aid in the stability of Steem Dollars. Starting when Steem Dollars are 2% of the market cap, a portional of content rewards will be awarded as Steem instead of Steem Dollars. The rate at which Steem Dollars are printed is 50% of the reward at 2% or less market cap and 0% at 5% or more market cap, linearly extrapolated from 2%-5% market cap. So, at 3.5% market cap content rewards will be 25% Steem Dollars, 25% Steem, and 50% Steem Power. source: https://github.com/steemit/steem/releases/tag/v0.14.2
Thoughts
Hopefully we don't see a tank in STEEM prices due to people dumping their tokens onto the markets but I think we should likely prepare for such an event. I know personally I've been powering up the STEEM I get for post payouts and I urge others to do the same. Not only do you get awesome interest on SP as well as SBD but it also powers up your votes and allows your votes to really weigh in.
Please don't take this as doom calling, it isn't. We have whales trying to exit currently and that's why the market is low. I'm not giving financial advice nor telling anyone to buy / sell STEEM or SBD merely expressing what I think. :)
How to Vote @klye as Witness
Voting for me to be witness is easy and can easily be completed on the page linked below:
https://steemit.com/~witnesses
Initially I likely won't be in the top 50 witness list for super fast voting.. That's fine for now!
However you can still easily vote for me by scrolling to the bottom of the page and typing klye:
Nice one. I just posted encouraging this actually i think Steem Power is the way forward.
Good work! I'm just throwing the STEEM in my account. My votes will be able to feed people here eventually.
That is my mission. It feels good to recieve but it feels better to give.
I saw this briefly, but only really recognized it when I saw steem appear without being sent to me or having converted it myself. I figured this may be the case, but thanks for confirming @klye
No problem sir! Figured I'd let everyone know!
As a newb, these kind of posts that help provide a platform/economy analysis are very helpful - thank you! Reblogging & LONG STEEM!
Thank you very much for the reblog. Glad this post helps give you some info!
Well said and thanks for the info i didnt knw about this
Yeah not very many people were realizing this.. Had to make the announcement!
So that's why I got some mysterious steem in my account! I was trying to work out where on earth it had come from! Thanks @klye!
Cheers man
As requested:
Examining Honey from a Different Perspective - Steemit Sock Puppetry Continues
Good stuff man!
Thanks for your post!
You are welcome!
Steemit is still too opaque!!!
it is the same 100% though... should not effect prices. people will just get 20% of the Steem they'd buy with SBD that much faster.
Aye. But if we look at the current trend people seem to be getting out and dumping instead of buying and the market is going down.. :/
The trend was made by whales imho. Everyone I see is hoarding SP. I sold at just over a dollar and just under. I have not sold down here at 40-50 cents and don't plan to.
Glad to hear. I am in the same boat as you. Initially I did sell some STEEM but now I'm holding onto it and powering up. :)
Good post and catch. These Devs and their Ninja tactics on features! Thanks!
No worries! figured I'd help spread the word to minimize confusion!
Thanks for letting us know:)
No problem sir!