I would like to start this post by quoting @dantheman on this interview, where he stated that blogging rewards work similar to mining rewards:
“…[steemit] works like proof of work where as competition increases the difficulty goes up”
The concept is simple: If more people post and comment then it will be harder to get good rewards, this may discourage some users from posting, which will reduce the total amount of posts making difficulty drop, attracting users back and raising difficulty again.... this process repeats itselfs.
image from: newsbtc.com
This is similar to mining Bitcoin, if difficulty increases and miners are not getting good rewards they quit, if they quit difficulty drops and others will take their place.
But how do we measure this difficulty?, Bitcoin miners have mining difficulty, could it be possible to have Blogging Difficulty!?
My personal Blogging Difficulty Index
A very simple way to find out how difficult it is to get rewards would be to divide the total amount of posts by the number of “winning posts”…..hear me out:
Total Posts = Total Amount of posts in a 24 hour period
Winning Posts = Posts that made more than 100 SBD in rewards.
TP / WP = Blogging Difficulty
Let’s do an example with current numbers:
4552 / 121 = 37.61
Blogging Difficulty is of 37.61, the higher the number the more difficult it is to get a “winning post”.
You could also translate this into a percentage and say that 2.658% of all the posts are winning posts.
I think this index could be a helpful reference for bloggers.
I would like to read your thoughts on this concept and on any other alternative to evaluate blogging difficulty?
Note: Steem rewards are not as exact as Bitcoin mining rewards, the probability of getting rewards will not only depend on this index but also on your ability to write well and your digital marketing skills... In this sense the Blogging Difficulty Index is just one of the factors that will influence your success on the platform.