This post may be about something that a lot of Steemians already know about and stating the obvious but I have learned never to make assumptions.
Steem Dollars (aka SBD) were meant to always have a $1 value. The coin is intended to be an alternative means of payment on the platform. This way Steemians can turn all of their Steem into Steem Power and still be able to lease Steem Power or use an upvote bot for example.
But...for some time now SBD has been worth a lot more than $1, some thinks this is a problem, others think that this is actually good. I am not going to debate whether SBD should go back to its original 1$ value rather the benefits that come from this unexpected rise in value.
So last week I did a post called: The one about Pre-ICOs and the total payout was $16.61 of which $14.40 goes to the author (yeah!) and $2.22 will be distributed among the curators.
When you submit a post you can choose how the reward will be paid out. When you go for 50%/50% option your reward will be split in 50% Steem Power and 50% Steem Dollars but if you go for the 100% option your entire reward (minus curation of course) will be paid out in Steem Power.
So back to my example. I chose to have my reward paid out in 50% Steem Power and 50% Steem Dollars. This is what I got:
As you can see there is something not quite right. You would expect that I would get an almost equal amount of Steem Power and SBD but instead I got 7.2 SBD and 1.248 Steem Power. So what’s going on?
Well, when you are paid out in Steem Power the algorithms calculate what the Steem value is of what you are owed on your post. So in my case $7.2 equalled 1.248 Steem at that moment of payout so that is what I got.
BUT apparently the system didn’t take into account that the value of SBD might once go to the roof. So it still pays out $7.2 rewards as 7.2 SBD. Which means it is very profitable to have you rewards paid out in SBD.
At the time of writing the price of Steem Dollars is $7.11 so for my post I received $58 in total ($7.2 in Steem Power and $51,19 worth of SBD).
As long as Steemit does not alter the payout system and the price of Steem dollars remains higher than $1 it is extremely beneficial to having your rewards paid out in SBD instead of 100% Steem Power.
If only there was an option to receive 100% of your rewards in SBD.
