There are a lot of things new members of this blockchain need to know to succeed which are sometimes neglected or not stressed and as such you could be losing big money for a long time without knowing it.
One of such thing is the voting timer for optimum return on the upvote you make. People are usual told that you have 7 days to vote on a post before it pays out, now that is true, but what is also true is that the more you delay making that upvote from the time the post out the less you would receive for the same SP and VP used in making that upvote. Now it doesn’t mean you should just upvote a post at 0 to 1 minute time once the post goes out, for you are also short changing yourself for upvoting too early.
When I joined the blockchain the voting timer was 30 minutes, which meant that was about the best time to upvote a post to receive optimum curation reward, but after HF20 it was changed to 15 minutes. For those that may not understand what this means it simply means the further away from 15 minutes you are the less you receive for upvoting a post with the same SP and VP.
For HF21 the voting timer has been reduced to 5 minutes, I asked @thecryptodrive about this in one of his post because I had thought they were discussing making it a minute and he was so nice to confirm that it was 5 minutes and also gave me a detailed breakdown of how it works. You can read up our conversation in the comment section of his post HF 21 - More Steem Power More Fun!.
If you upvote at 1 minute you get 20% of the full rewards you should receive
If you upvote at 2 minutes you get 40% of the full rewards you should receive
If you upvote at 3 minutes you get 60% of the full rewards you should receive
If you upvote at 4 minutes you get 80% of the full rewards you should receive
If you upvote at 5 minutes you get 100% of the full rewards you should receive
But there is also the issue of a lot of people voting at 5 mins, it that is expected, you might want to vote at 4 minutes so that you’re not pushed off the 5 mins timer by larger voters. But if you don’t anticipate a rush of upvotes at 5 mins then it’s safe to vote at 5 mins.
Now, this doesn’t mean you won’t receive curation reward if you voted on a post on the 6th day, you still receive curation rewards for upvoting the post but when you compare it with what you would receive if you had voted at the right time then you’ll understand the difference.
One more thing, a lot of users have understood this voting timer and went ahead to implement it 7 days before HF21 is implemented. There thinking is that post that are due once HF21 comes into effect will be affected by this change. The 50/50 rule for author and curators rewards will be implemented but the voting timer thingy will start after the HF21. You can check out the post by @acidyo Curation tips to understand better. So, don’t be voting at 5 minutes now wait until after HF21.
I wish you all a HAPPY FORKING DAY
Thanks for watching the video and reading my post, like I always say, upvote it if you liked it I’ll truly appreciate that. Keep your comments coming and follow me if you have not already done that. Again, thanks a lot for your support to me always.
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