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RE: Donate A Little To Sustainable Vocations Summer Youth Program!

in #charity • 6 years ago

Great work Peter, anything to raise money for a worthy cause is a good thing in my book :)

6 years ago in #charity by
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     6 years ago (edited)

    Thank you @o07 my brother from downunder.

    For clarity for the rest of the voters/readers and to help in my developing understanding of this platform I will answer your question from discord right here on what the donation will be. It's actually more complicated than I thought because of all the conversions.

    • If the amount of money from the votes going to the author exceeds US$1 I will donate that to the cause on behalf of the voters. Note a portion of vote money goes to the voters and that is not counted
    • All money sent directly to me for the cause I'll donate.
    • I've used bid bots which are accounts to which you can send SBD tokens and in return they make a corresponding upvote. This gets the post a little more visibility (advertising) and sometimes the bid bot's vote is worth more than it costs. The profit from that vote will go to the cause (if the total is > $1 as noted above).
    • Small amounts like this will get eaten up by transfer + exchange fees plus withdrawal fees so I'll just deposit the money from my own bank account rather than go through the transfer and withdrawal process.

    An example:

    I paid 0.993 SBD for a vote from @minnowbooster (carried out by ace.korengchina) and 20 SBD for a vote from @smartmarket (carried out by @xeldal in the list of votes)

    Jun/09/2018 Expected author payout using https://steemworld.org/@petervroom is 6.333 SP and 14.736 SBD. Payouts are split between steem power (SP) and SBD (steem backed dollars)

    6.333 is multiplied by the going steemit market exchange rate into SBD so that's 6.333 x ~1.4 = 8.866 SBD

    Current estimated author payout in SBD is 14.736 + 8.866 = 23.602 SBD

    Cost of votes is 20.993 SBD subtracted from estimated payout = 23.602 - 20.993 = 2.609 SBD

    SBD to $US conversion rate is ~1.65975USD so 2.609 x 1.65975 = US$4.33

    I made several errors in the creation of this comment as I'm new to this so if you see any please reply with corrections and explanation.

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    • Past Payouts $0.04, 0.00 TRX
    • - Author $0.03, 0.00 TRX
    • - Curators $0.01, 0.00 TRX
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