You should already know by now that I am a big advocate of interaction and engagement here on the blockchain!
I also keep on telling that if you are here the long term and don't depend on the steem income that the value of steem is irrelevant at the moment!
In this post I will try to explain why that is! At least I will give it a shot and this is my understanding how things work under the hood of Steem. If you do see any incorrect assumption or still have question, don't hesitate and drop a comment!
The reward pool
You probably all know that there is a daily reward pool, which is used to pay the posts!
But how is this reward pool created?
Well simple, each 3 second a new block is generated and within each block there is a pre-defined number of Steem available. The biggest chunk of steem is for the reward pool. A small, really small chunk is rewarded to the witnesses!
So each 3 second the reward pool is filled up! At the moment we are at block #23,312,796.
What is also important to know is that each 250K blocks the inflation is decreased.
If you want to read more about inflation, there is a great article available by
https://steemit.com/steemit/@fatboyjames/how-much-new-steem-is-created-everyday
The reward pool is constantly moving. So each 3 section it is re-filled but every upvote drains the reward pool!
Distributing the reward pool
We know now how the reward pool is filled, so how is it distributed!
Well 75% of the reward pool is used for the content creators and 25% is used for the content curators.
It is that simple!
Under the hood: VESTS
Now you are interested to see, how the vote value is calculated. Because this is what you do extract from the reward pool when you do upvote this post :). And like written above 75% of the vote will be for me and 25% of the votes will be for the curators (depending on which time you do upvote)!
You don't need to look at the vote value in USD or SBD yet because under the hood everything is calculated in VESTS!
Well the best way I can explain this, is that all steem power combined is gathered in a fund and the number of vests does express how many shares you have in this fund!
Vote calculation
The first thing you have to do it to calculate the number of vests you have at your possession.
With possession I do mean that you also have to incorporate a delegation you have received.
Lucky for us there are some great tool available where you can see, this easily!
Maybe the best tool to use for this is http://steemd.com/ created by
If you do want to know how many vests you have just goto http://steemd.com/@username
where you do have to replace the username with your Steemit name.
So for me this would become:
http://steemd.com/@fullcoverbetting
We are interested in the following part at the left side of the screen!
As you can see my total amount of vest are:
733.647,832331 (own) + 407.642,471851 (received delegation) = 1.141290,304182
This last number is the total vests I do have available! If you do have an outgoing delegation, you will need to distract this from this!
For some reason, I don't understand we need to multiply this by 1 million!
So 1.141290,304182 * 1.000.000 = 1.141.290.304.182
Sounds a lot, doesn't it?
voting power
We are not there yet! The need to incorporate the voting power we are going to use in the calculation.
Once you reach 500SP you will have a slider available with which you can choose the desired voting power. If you are using busy.org, you can use the slider also below 500 SP.
One 100% vote does decrease the voting power you have with around 2%.
So in my case a 100% upvote would represent:
1.141.290.304.182 *0,02 = 22.825.806.083,64
So if I do upvote your post with 100%, I am pulling 22.825.806.083,64 vest from the reward pool!
Reward pool and upvotes
Almost there.
If we take a look at another Steem blockexplorer http://steemdb.com created by
We can see how much is in the reward pool.
At the moment of writing this post, the reward pool was:
Here we are interested in the recent claims which are 467.563.228.304.150.000,00
We need to divide our upvote by this. So
22.825.806.083,64 / 467.563.228.304.150.000,00 = 0,0000000488186510
Really peanuts, isn't. But luckily we also need to see how many steem is available in the reward pool, which is 739.653,007. So almost 740K.
Now we need to multiply our part from the share from the recent claims with the available steem in the reward pool.
0,0000000488186510 * 739.653,007 = 0,036109 STEEM
This 0.036109 is actually my 100% upvote!
As you can see, the value of steem doesn't matter when you are here for the long term. It is steem where we should be interested in!
It is this Steem where we should be interested in! Not the SBD value of Steem value.
Converting to SBD
Because this figure above doesn't mean anything to most of us, it is written down in SBD, which is much more understandable!
Therefor we do need know the current feed price, which could be lookup on the steemd blockchain explorer or the steemdb blockchain explorer!
So, the last thing to do is to multiply our steem upvote with the current SBD feed:
0,036109 * 1.742 = 0.0629
Which is quit accurate in my case.
To verify I did 100% upvote a post 2 hours ago with around 83% voting power left.
So this would that this upvote should be worth:
0.0629 (vote value) * 100% (100% upvote) * 83% =$0.05
Final words
I do want to thank 
So, if you are here for the long term. The value of the post is meaningless as long as the upvotes and the upvoting power is the same. You would earn the same when the value of steem is low or high.
When the steem price is high, the value of the upvotes are high, hence you have to pay more to get your Steem!
When the steem price is low, the value of the upvotes is low, hence you have to pay less to get your steem!
I do hope that you like this article and that not any mistakes are in here!
If you did like it, feel free to re-steem it or to upvote it with full force :) Bur for sure do leave a comment when you did read it and let me know what you think! Because interaction really matters!
If you still have a witness spot available, please consider 
Their latest article can prove this:
https://busy.org/@paulag/developing-a-steem-contribution-score-table
Keep the faith,
Peter
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