Make your Witness vote work for you!
The Question
Is your Witness vote helping you earn? or is it just helping others earn off of you?
The Problem
Steem witness whales are not sharing their rewards with the Steemit community. Witnesses mint thousands of dollars worth of Steem daily and the community isn't getting their cut.
The Solution
A Steem Witness that pays out users who vote for it. Paying back supporters dividends is the best way to reward community members while keeping witness node maintainers honest, transparent and responsible.
The solution is @SteemEnginePool
How it Works
Sometimes the simplest solution is the most elegant:
- Use one of your witness votes on "SteemEnginePool".
- When SteemEnginePool produces a block reward, the reward will be divided and distributed to users that vote for @SteemEnginePool.
That's it. Vote @SteemEnginePool as a witness and you will earn steem dividends. It's as simple as that.
How to Get Started
Go to https://steemit.com/~witnesses and vote steemenginepool as seen below
steemenginepool should be displayed with an upvote arrow. If you see this, you are done! Do not click it or it will remove the vote!
Witness Node Specifics
Here is some information on the node we are running. We will continue to upgrade as the Steem blockchain grows.
| Type | Cloud Hosted |
| RAM | 64GB |
| CPU's | 16 |
| Disk | 1TB SSD |
| Features | Clustered, High availability and CDN optimized. |
Hey, just saw this post. Welcome to being a witness! I see a couple misconceptions in your post that I'd like to address. Especially as someone who is seeking to produce blocks for the Steem, I encourage you to understand how it works and what gives the network value.
That's not true of all witnesses. And not all witnesses are "whales." I share over 1/4th of my current weekly SP income with @luzcypher's Open Mic contest for instance. Other witnesses contribute their own funds and their own time in many ways.
This is a gross misconception. The Steem network that's being run by the witnesses has an emission based on inflation. Witness pay is 10% of that inflation while post rewards are 75%! So to say the community isn't getting "their cut" is inaccurate.
It also presumes that witnesses somehow don't deserve 10% of Steem inflation earmarked for witness compensation for faithfully keeping the network decentralized and secure. This can not be undervalued. No network security, no network! Obviously: no network, no post rewards!
@anyx recently made a post explaining why incentivized voting on a DPoS network is a net negative on its security and value. Check it out here: https://steemit.com/dpos/@anyx/how-vote-incentivization-degrades-delegated-proof-of-stake
I'm in. This is my first witness vote. I have been holding on to them. Hope this works out for you. Best of luck.
I followed as well. Leta get this block mined.
Thanks!
@pfunk pls upvote me
Witness vote
Done
I like voting for the underdog so let's see. You got a vote of mine.
Thank you!
Done
Done.. May your methids work for the best of steem community.
I'm in
Done.
Sounds tasty. Me likie.
I like the idea of sharing!
You have to have lots of voters to break even after paying for the witness node hosting. How do you plan to share the reward:
Please, give us more details about your reward dividing algorithm.
We are looking at starting at a 80% payouts 20% hosting model. It might be a bit of time before we mint our first block and we don't want to keep our supporters waiting for a payout too long.
Shares will be paid out to a supporter once they hit the minimum threshold of 0.001
Done. Will our shares be transferred directly from steemenginepool to our wallets? Will you also be sharing data on the earnings? Thanks!
Shares will be transferred directly from steemenginepool to your wallet. http://www.steemenginepool.com/ (under construction) will display complete information on earnings and payouts.
I'm recasting my witness vote; somehow my first vote for you was removed??