Are my AFIT tokens really worth $2673? Or is a short walk really worth a $2 payout?
View this post on Hive: Are my AFIT tokens really worth $2673? Or is a short walk really worth a $2 payout?
I've moved to Hive, along with most other people, following Justin Sun's takeover of Steem in the Spring of 2020. I believe hive is a lot more decentralised than Steem!
This is why buying any of these tokens should be approached with great care and caution.
Posted using Partiko iOS
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Well, if you consider it as an hour's work, a payout of $2 per hour isn't very inviting. I think this app intends to pay people who constantly keep doing sedentary jobs to earn a higher payout to go out and do some physical activity too.
And as far as math is concerned, I don't get how can 33K AFIT equals $66K? 1 AFIT is not valued at $2.
In fact, you have calculated it for 25 AFIT tokens and not 1 AFIT.
Secondly, if you take 25% curation cut in the value of $1.11 upvote into account, 25 AFIT will be only $1.04 and not $1.25.
Thirdly, these upvotes in exchange of 20 AFIT are rewarded only when you make a post by earning another 25 AFITs. So you will never be able to encash all your AFIT earned in past through this window. Thus this can't dictate the market price as it isn't even an option to liquidate your tokens.
And I guess, platform rate of 0.36 Steem per AFIT are outdated and hasn't got updated since the AFITs were allowed to transfer on SE.
So I'll take the SE market prices as the only real price for AFIT and @0.009 STEEM it's not that bad as of now! But to instantly liquidate your 33K, you will have to dispose them off @0.00154 I guess. This will land about a dozen dollars in your pocket (not considering the cost of acquiring and disposing AFITX required to power down instantly). Sory, not even $66! I'm sure, you ain't gonna do that 😉
Hey thanks for the math check, it was late last night when I wrote this, I modified and edited (and credited you!)
Fair point about the curation, but I've left that as is (share the love!)
I agree about the SE market price, it'll be interesting to watch it over the next few months.
No issues, it happens! It's good to sleep and dream of a lambo but personally, I like bikes more than any other automobile
Keep moving!.
Might be for you 5k is just a short walk but if I look around here and see the reports to many it is not.
I myself have a difficult walking and try to do these steps and even managed more. Very annoying I find the app hardly counts any step with my mobile.
After hours mowing my lawn without break 7600 steps only 1300 were counted.
I do not know what your step is worth, to be honest I do not check it out either since I don't care.
Sofar I earned nothing to cheer about. No matter if it was writing or walking. Might be if I buy tokens I will since that is how it works here.
I would say: walk on, have fun as long as you can. That is the only thing that counts.
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Posted using Partiko Android
Yes I understand that 5K is a challenge for some people, and if it is fair play to them for making the effort!
That's just a further problem with the AFIT concept!
Yes - buy tokens and you'll attract more eyes I'm afraid that is how it works on here - hardly anyone is interested in what you write about, let alone how many steps you took.
On a positive note, walking is great however far you can go!
You might need to put the app on aggressive tracking mode, also if you close it, it stops. It is a bit crap TBH!
I tried aggressive but no difference.
It works for me to know I take way more steps as I thought I would.
The writing can join any other contest. Saw many do it this way.
Lovely day thanks for your response.
💕
Posted using Partiko Android
I don’t know what their plan is for their token at the moment I see the site also allows you to book a session with some other actifitters or buy an ebook!
I think that they know that if they don’t control the amount dumped on S-E they would flood the market with tokens that no one wants to buy
There is no reason to buy aFit apart from helping you earn more aFit
I think the 20 token burn can go a long way to reduce circulation but there still needs to be a plan as to why we would want those tokens say we could book fitness classes at a discount or get fitness gear and use those tokens as a loyalty reward program
Posted using Partiko iOS
Yes fair point - The value long term will depend on the exclusive deals you can get with them,
The problem with the 20 AFIT burn is that at the current rate I can only burn 20 a week, I 'earn' 5-7 times that a week for my @acfitit posts - the vote reward is totally overvalued, it needs to be halved and halved again.
the thing about actifit in my mind is that even though its a really cool idea, untill there is either an inflow of fiat or a "burn" or "sink" there will be no value behind it and those 4 books are not it
Yes fair point, and the burn exchange for tokens to upvotes is currently very unrealistic!
Using it is still a no-brainer for someone who walks everywhere and runs a lot!
I love these more skeptical posts as a counterweight for the usual posts that only praise Steemit and all its dapps.
I'm with you on the idea that the value of the tokens mostly is based on fiction. As much as I enjoyed actifit, I have a hard time to see it working long term. It's also impossible to draw any serious conclusion on health based on 'actifit steps'
The Actifit spam posts also are turning into a real problem on Steemit imo. I actually implemented them into real posts (on different accounts and different days) since it's the only way to sell/convert AFIT but got blacklisted for doing so without a warning. I know it was on the edge but you can't expect to game users by giving the token fake value and not be gamed by it. I guess the best way to go about it is like you, having 1 alternate account and just dump the shitpost daily.
I do see the potential in AFIT but they have a long way to go as the entire system right now makes no real sense.
You do need an alt for actifit. It's fairly obvious some people are strapping their phones to metronomes or something, given the day in day out 50K steps for some accounts.
I would suggest:
Yes well said - I use the app because I typically do at least 5K steps a day anyway!
The beer worked this time! Cheers!
Hurrah - my first beer give away. I mastered coffee yesterday 😊.
I would do more Actifit posts, but you have to do them the same day, which means I have to do the write up on that day. I don't like to skimp and do 2 sentences so often don't bother.
As I have sent 1 STEEM for the privilege of the 'vote' I'll need to use it at least once to get my '1' back!
Other than that, I'm transferring all my tokens to SE now, on power down.
The app now lets you post for the day before so that may help, at least the android version does.
It is a great deal for votes, but it seems the queue means you get one a week max.
I guess you'll just have time your next walking post for an AFIT post - of course you could always just do 5K steps a few days after an actual long walk and link that to the write up instead, I've done that a lot with my running posts - on a run day I'll quite easily clock up 20K steps but I often only post with 5K as I can't be arsed carrying my phone while I'm running!
Not financial advice, but if you can sell them for 0.06 that's probably a good rate!
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