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RE: BuzzSteem Ep. 21 - @bethwheatcraft [Bitcoin's Future, Witnesses and National Singing Day]
Hi Freeborn Angel, could you expand on how your curation since people can lease delegated SP? Are you saying that voting has become more specialised since then? Votes are going to fewer people, but those people are getting larger votes?
Large sp gets it rewards from the votes of little sp.
When a large sp account votes it is weighted heavier in the math than a small sp account.
When a post goes to >500 payout, literally hundreds of minnows get bupkiss.
If it goes above 1000 you can make that thousands of minnows.
1000sbd makes for 10k in dimes that don't go to the least sp among us.
If the 75% of sp that doesn't vote did vote, we wouldn't be getting rewards at all for the least among us, and their votes wouldn't even register on the ui.
I'm not the best source of info on this, I can only give anecdotal testimony, but if you go back to before the last hardfork when the whale experiment was going on you will see that what I have said is supported by facts.
@smooth and @abit could tell you, probably off the tops of their heads.
Ahhhh, I get it now, it all works on percentages...
Thanks for explaining that too me. I didn't actually realise the maths behind it all. I thought that if I vote $0.01 on a post at the 30 minute mark and then it gets popular then that would be good... but if huge whales voted on it too then my share would barely exist.
Curation rewards work a little different.
https://steemit.com/curation/@miniature-tiger/an-illustrated-guide-to-curation-from-the-simple-to-the-complex-with-real-examples-from-past-posts-part-1
A whale voting after you would increase your curation rewards.
Oh wait... so you were initially talking about the percentages of the reward pool (sorry there is a lot to take in)... if a post gets >$500 then hundreds of minnows that say, got $0.10 on their postsactually have that $0.10 reduced because the $500 post took such a big percentage of the reward pool... is that what you mean? If that $500 post didn't exist on that day then hundreds of minnows would get their $0.10?
Again, thank you so much for taking the time to explain to me...
Ok, what happens when 10 accounts vote with a total weight of 1000sp, then a vote with 10,000sp comes along and votes, all the other votes have their worth diminished in order to accommodate the large voter.
I can't quote exact numbers but it works on a ratio.
If your vote, prior to the big vote, represented 10% of all the votes, and then a big vote comes along with 10x the sp weight, your vote is now worth 1%.
This is some of the fluctuation you see over the course of the 7 days.
When whales delegate their sp for cash then all other sp is diminished in the math.
So, yes, when big sp votes all small sp loses in proportion to how much they now represent of all sp voted.
If no accounts over 40k sp (80mv) vote, then the minnows matter much more in the math.
Thank you for that... that makes a lot more sense... and I didn't realise that was the case.
I know a lot of the whales did a lot of great work and deserve all the power they have now... and there are whales like rancho that just bought a heap of steem 11 months ago, fell asleep and decided to use it all now... but man I can't wait until the power is distributed a bit more evenly...
P.S) - That curation explanation is just incredible.
Yes, he did a good job on that.