Use Higher Value Of SBDs To Your Advantage To Buy Steem!
The markets could be correcting or pumping but atleast 9/10 times SBDs have been worth a lot more than Steem in the past couple of months. This puts us an advantage to buy and HODL Steem.
If you are still wondering why Steem could be a better bet, take a look at https://blocktivity.info for starters! We are at the number one spot for being the fastest blockchain, and for processing the most number of transactions! Steemit.com-the numero uno UI built on Steem blockchain is in under 1300 most popular websites globally and some 508th spot in USA.
Many people have asked me about the distribution issue on Steemit. The fact is that we can still buy a lot of Steem today and increase our stake on this network. But it is all upto us how we go about it. We can either cash out all our liquid SBD earnings every time we get paid or reinvest it back (or atleast some of it) into the network and buy Steem and power it up.
Powering up allows you to vote for others, for yourselves, earn curation rewards and support users who do a lot of community work. The larger effect of this behaviour is that it helps grow the platform in different ways.
1 SBD at press time can get you approx 1.6 Steem. That’s a 60% premium over Steem and you can buy Steem a lot cheaper this way. Even if you are earning a few dollars you can increase your stake this way.
I’ve been buying Steem and powering up almost every other day or so. It’s my goal to get this account to 50K by end of the year and I want to buy as much Steem as I can while it is still under $10 and power up. This will allow me to support work of many more people when the price goes up and my votes are worth more!
It doesn’t matter if you are a minnow. I was one too when I first started. I had 10SP in my account and I've bought a lot of Steem along the way.
I bought Steem at $3 all the way down to some $0.20 cents or so during the initial dumping phase. I missed buying any cheaper, so I'm buying as much as I can now. This is also why I haven’t sold any Steem in a year now and unlikely that I will in the year to come.
Sometimes, I sell some SBDs to cashout as that’s the only way I can fund my community oriented goals and earn my income.
I’ve always made it a point to encourage users I onboard to the platform through my initiatives to power up their accounts. I recommend that you tell your friends on Steemit to look at the positives of this platform, compare it to others and perhaps get them to hodl Steem and use their powered up accounts to curate content on the platform! It might just pay off in the long run!
I also recommend you to read STEEM Is NOT Steemit. STEEM Is More Valuable Than Steemit by @lukestokes and Is Steem the world's first cryptocurrency? by @kevinwong
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- India Steem Meetup #2—An Incredible Meetup In Bangalore—IT Capital of India!
- 4 Tips For Steemit Account Recovery & Wallet Security!
- Steemit.Chat Contest #14 + Contest #13 Winners Announcement!
Great advice! I myself try to bring value by posting technical analysis on different coins that has potential. Here's an example of what I do:
STEEM & SBD - Update - Analysis (42% and 54% gains) — Steemit https://steemit.com/steem/@benkalashnikov/steem-and-sbd-update-analysis-42-and-54-gains
I agree with this in theory. However, the steem landscape is vastly changing into a free-for-all struggle, as more people join. I would say this was easier to achieve in the beginning, but impossible for minnows now.
getting .05 sp/sbd per post, regardless of how much time you put into it, is not even worth it for most people to care about where this platform goes, and they just cash out. I would too. When your curation rewards can't even afford you 1 steem after a week of post....
On top of that, you use a bot to try and gain exposure FLAGGED! Yay! You don't, well then you get 1k+ rewarded post BURNING STEEM. Literally just throwing those potential rewards away...
Steem is becoming the next instagram already... unless you are already on top, you have to spend years grinding, and even then it's not a guarantee.
People want to keep boasting COMMUNITY, but where is this community, where are these dolphins and whales supporting it?? Hell, I don't even get votes on my content from my 70% of my followers, not to mention any that could have a substantial impact. Why? Oh because they are big time now, and don't have a mentality beyond me me me...
Only reason I stay; I figure if I am blogging, might as well do it here, as I don't have facebook or instagram...
It might just sound like I am complaining, but I am just being realistic about the issues on this platform.
you nail it down @imlikeett well done I agree 100%
I am with you @imlikett. However this community is really great, well behaved people around , a lot of good advises, diversity and up to date infos. This is a reason to stay. On the other hand I ask myself, why do I feed this big machine and get the big fishes becoming even fatter. I am part of this problem. I haven't find the right answer to it. Still hope that it will change.
Yes, you are totally right. This is my long term goal on steem, First i need to get to 100SBD and 100 Steem Power, then i'll add them all to SP and go on to the next goal :)
Thank you really, thats a good article for me atleast as a new member
Why wait until you have 100 SBD? If you keep exchanging SBD for SP the whole time, it will make it easier to earn faster, right? I like to leave a little SBD free for transactions, but I usually trade in batches of about 5 SBD or even less when the ratio is good.
It's worth to wait the right moment to exchange SBD for STEEM
When SBD was at $11 while Steem was at $2 was a good time to exchange.
Had you exchanged them 1:1 a few days prior, then you wouldn't have made the same amount by author/curation rewards.
Of course SBD is supposed to be pegged at $1 USD, so their are no guarantees.
IMHO, it's as much about the ratio between Steem and SBD as it is about the USD value. You're right, that it's better to exchange when the SBD value is higher in relation to the Steem value, and I do look for that. Honestly, I sometimes just power up so I'm not tempted to spend the Steem. :)
I have to agree with your approach. Reinvest in yourself so you can earn more. It also shows support for Steemit as a platform and a community.
You are right but i use the sbd for upvote bots to give my account a boost. without them you know how hard it is to get moving...
Yeah, me too. (sigh)
GOOD Point, mate !
Upvoted you, as I thought this is a good #tip on #STEEM
If you want some cash or other cryptos like bitshares, it seems better to trade SBD than Steem , right? But how to change your steem into SBD?
If you want to trade liquid steem to SBD, you can do it through Blocktrades.US easilly. If you're talking about Steem Power, you have to read up on how to power down first.
Thanks you! Still don't know if it is better to trade steem or SBD for other cryptos.
I'm still just working towards powering up my Steem account. I traded a tiny amount for BTC just to make sure I knew how. I'm in the US, so I went Blocktrades -> Coinbase but I'm not saying that's the best solution. It's just what I did. I'd love a less-clunky and fee-taking solution.
I guess you have to define your goals. IMO, even if the value of other cryptos fluctuates, we can still (hopefully) achieve positive growth here in our Steem accounts. I don't think Steemit is a get-rich-quick solution for must of us, but I believe it has potential. At least, I hope it does.
II thought to play with my steem earnings a bit around, why not trying other coins? I am not really in trading business.
i love your vision bro.
True! I'm so glad I've become a part of this awesome community a couple of months ago, I kept HOLDING and now it's paying off :)
just did it... thanks for your advice
I think we should rename "Steem" to "Rocket Fuel" cuz IMO this sucker is moon bound in the coming months.
Wow, great points - I've been considering buying Steem to give me a boost in my Steemit activities.
I powered down awhile ago to invest in other Crypto, but now am going to put some of that back into Steem!
You just pretty much sold me on it.
Thanks!
Thank you for this inspiring post! Actually I never had the thought to cash out and my only intention with other crypto investments is, to be able to buy more STEEM in the future!
Friends this is really a valuable information trust me. I wish I understood this before I wasted more than 2000 steem (which i earned by working hard in blogging in steemit) in lending platforms and other
coins and eventually got screwed up. But I will continue to create content and hold steem n power up. This post is pure gold to me since I understand the value of steem after losing so much.Thanks for sharing. :)
I like the way you keel the post simple yet invaluable.
I am always discouraged powering up with the small rewards my blog posts are getting, so I leave it grow organically which has not been much.
I guess I will be powering up no matter how small because I am experiencing how it feels like to have some powers from the one I delegated which will soon expire...it feels good to be able to appreciate your blog visitors with some upvotes.
Thank you for yet another great post.