A couple of days ago I was surprised to see this brand new check box:
I decided to give it a whirl.
I figured that it would be a way to alert the entire community that I was committed to Steemit and wanted to reinvest any proceeds I earned back into the site. That is the way I see Steem Power. I view it like investing in a profit sharing program with your employer.
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My post didn't hit really big, but thanks to diana.catherine recommending the post, the curie program showed me enough love so that I was able to see how the new feature works.
The result?
The post earned $40.72 from votes.
$30.87 were author rewards.
$9.85 went to curators (thank you curators!).
However... because I chose to be paid in Steem Power, I got a bonus (kind of)!
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$49.008 steempower was just deposited into my wallet (and I went from 5.4 to 5.5 vests).
I will have to test this a few more times, but it certainly appears that they are taking into account the conversion from steem dollars to Steem Power (which is awesome).
I realize it may not actually be a bonus... but it sure feels like one. Instead of seeing the $40.72 and only having $30.87 deposited in my wallet, I get the instant gratification of $49.08 being deposited. If this site takes off as it deserves to, that $49.08 may end up being worth 50 times more than that (maybe eve more... fingers crossed).
In addition, it means that I didn't have to go through the added steps of converting Steem Dollars to Steem and then to Steem Power.
I'm definitely happy I tried it.
Clicking "Pay me 100% in Steem Power" felt like a bonus, saved me a hassle, and made me feel more invested in the success of the site.
Maybe it isn't for everyone because it involves some risk that in the future, Steem Power will drop in value, but I believe in the site so it's worth the risk to me (I am a complete crypto coin novice so please don't take this as investing advice).
But for me I give it...
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Some new calculations inspired by the comments. Can someone check my math?
According to the payout of my last post above $10, the current traditonal split (after curators take their cut) is 40% in Steem Dollars and 60% in Steem Power.
So if we look at the post in question after curation, I would get $12.348 in Steem Dollars and 18.522 in Steem Power. So we only need to look at the $12.348. I get $30.558 Steem Power instead of $12.348 Steem Dollars ($49.08 - $18.522 I would have gotten anyway). At your rate of $.53 (commenter used this number for conversion), that equals $16.19574.
Therefore, I came out $3.84774 ahead. If I'm not mistaken, that means I came out 12.83% ahead... and I don't have the hassle of converting to Steem then Steem Power. I may be completely wrong. If I am, I would appreciate a mathematical explanation so that I can better understand. I am a novice with crypto.