Hi steemit friends, the purpose of this post is to answer common questions newbies always ask. They've ask a lot, like in discord's channel or commenting in authors page. So, I will try my best to answer it as I personally interpret it. All opinions of other authors are welcome to comment down below.
In my last topic, 'How To Steemit 101: 'How Steemit Upvote Works' we talked about how upvote works.
So, How Does Steemit Pay-Out Works?
Basically, it corresponds also on how "UPVOTE" you've earned during the process. For every author that upvoted your post, a certain value will show and after 7 days "Halving" will take place. The "halving" is necessary as to plow back the rewards pool and also divided to curators.
How And What are they and how it works??
For every time we create a new post, Pay-Out options is notice here. Default (50% / 50%), Power Up 100%, at Decline Payout. What are they?
On 50/50 contribution, tells you that, it will distributed on both STEEM Power (SP) and Steem Dollars (SBD). The halving will give you SP for rank up and will increase your upvote power and SBD as monetary income from your posts.
STEEM Power - or in short SP is equivalent withSTEEM. However, SP indicates how much influence you posses in the community.
Steem Dollars - or we call it SBD is a secondary currency on Steemit.com like STEEM. As per SBD is equal to or approximately $1.00 in USD.
Steem Power or Power Up
Is an indicator that you allow, all of your payouts will be converted to STEEM POWER thus increasing your SP the same time. Again, the more SP you have, the higher your "reputation" and "value" for each upvote. It increases your strength in voting and the amount of halving curation you earn each pay day (on the 7th). I'm still exploring "POWER DOWN" of what are the affecting issues on your account and to others.
Declining Payout
Who will decline a payout? There are authors who actually wanted not to earn with their posts. It is beneficial since it will go back to the "rewards pool". It will still show how much the post has earn however the system will not pay you. This is a good gesture. It really help steemit economy thus by doing this you're in charity (peace).
Either of the three options, it will still pays you after 7 days. Halving still take place as the rewards goes back to the pool and some for curations. As I comment in my past post, it is good to invest in SP. It will give you returns and even good, active followers (they like big votes).
So, Let Breakdown The Payout
As I mentioned earlier, after 7 days, halving will take place. This halving shows you, your potential income plus dividends of curators. Now, It is approximately 75% yours and almost 25% to curators.
Now, where's the halving here? The system will take half of your 75% payout and it will go back to rewards pool. You'll notice that post generate $16.82 and it was paid today. Then before I redeem it, halving took place.
Is Halving Bad?
It's not! It's actually healthy to our community and also it helps our "reward pool" and steem value in general.
You will see your payout in "WALLET" tab like this.
And when you click "REDEEM" it will transfer in-real-time the amount said to your SP and SBD.
I really hope that somehow, I imparted a learning here. You may correct me as you leave your message below. This initiative is to help fellow newbie here in the community thus it also reminds us that this platform is not only a monetary machine but also a community that needs HELP, AWARENESS and LOVE.
Until the next posts! Thank you and God bless!
