You are viewing a single comment's thread from:
RE: People Who Started With Nothing And Made It Big on Steemit - For Newcomers
For most people, I would suggest to turn STEEM into STEEMPOWER(SP) as much as possible. STEEM doesn't do anything on the steem blockchain. It's good to transfer around, send to exchanges, etc. But it doesn't get you more influence and reward on the platform. I suggest to turn SBD to STEEM because the price of SBD has went crazy and I don't see that situation lasting forever...so while the getting is good, it's the perfect time to get STEEM (to then turn it into SP) at $0.14 each on the internal market while it's at $1.75 on the regular market. Make sense?
Got it.
Do you know how much SP someone needs before there upvote is worth something?
Is there a formula shat shows how much your upvote is worth per SP held?
And one more question: is there anything keeping me from using the "Sell" function under STEEM and converting it to bitcoin? Would that be a bad idea for some reason.
Thanks btw.
At current market price($1.75 per steem), 1000 SP is ~$0.17 by upvote(at 100%). You can look at the value of your upvote here: www.steemworld.org/@jrue
Thanks, just what I needed.
I've got to say SteemWorld by @steemchiller the best things I have used as a noob.
If you don't know what it is, stop reading this now and go check it out.
Put this in your browser https://steemworld.org/@yoursteemnamehere obviously replace @yoursteemnamehere with your steem name.
It has a Voting power adjusting tool, voting history, vote for witnesses, account balance, delegation start stop tool, list of followers and much more.
It is THE
swisssteem army tool everyone should have!I always have it open in another tab.
There really isn't a formula... or rather, it is quite lengthy and involves things like the number of people who voted that day.
There are some websites that calculate vote amount.
But, generally, at 488 SP, at todays current prices, the upvote is worth about 10¢ at 100%/100%. 100% voting power and 100% vote allocation. (at 488SP you get to have a slider that allows you to change your vote %)
The "Sell" function under STEEM is ... mislabeled, it would be more appropriate to say "Send to someone else".
Steemit has an internal market where you can trade STEEM and SBD, but that is it.
If you want to trade STEEM of SBD for bitcoin, litecoin, BitShares and such, you can either transfer your steem to an exchange like Bittrex or you can use Blocktrades.us to transform them (it trades them for you, and deposits the outcome in your wallet).
There are many articles about this on steemit.