hf19 - Pulling the ladder up, or more encouragement for Minnows to buy Steem? Targeting 500 Steem Power!
Over the past week there has been increasing discussion, resulting in some epic comment trails, regarding hf19 which is due to take place tomorrow (Tuesday 20th) at 11am EDT / 3pm GMT.
Views are mixed on who will benefit, however the cynical among us would not be blamed for assuming that the main players are not going to cut themselves short. Although, as one of the main concepts of Steem, it would benefit the platform (and Steem price) if more minnows could advance to dolphin status and in turn feed the smaller fish. Yes?
So, while the jury is out on how hf19 will unfold for all, I believe there's something the Minnows can do if they are serious about their Steem...
Buy more Steem Power!
'Why', I hear you ask? Why invest now when uncertainty is high, and you are stating concerns on Whales bringing this change to suit themselves?
The answer is the Steemit.com Vote power slider
As i have just found out by purchasing SP and powering up all the Steem accrued in my account, the 'voting power slide bar' is activated when you pass 500 Steem Power.
With this feature, i can now manage my voting power across more posts which, i think, is important for when HF19 arrives tomorrow. Usually my vote tally averages 50 votes a day and is split between:
- Votes to 'strong' users i follow and appreciate their content
- Feedback votes on my own blogs
- Votes on new content / new user content
- @Minnowsupport blogs
With only around 10 'full' votes before your power starts to decline (rapidly), this voting model is not possible with the inability to spread your power around.
So who would lose out from the above if push came to shove?
If i'm being honest, it would have to be the Minnows and new user content. Biting the hand that feeds you doesn't sound sensible, so that would include voting on stronger users who up-vote your comments if they like what they see, and voting on kind bloggers who comment and up-vote your posts. So that leaves the @minnowssupport and new user content, arguably the most important Steemit userbase, without the votes they need to encourage the platform to grow.
It is with the above in mind, that I've chosen to activate my Vote power slider in Steemit.com by reaching 500 Steem Power. Now i feel i can share the love around as i have been doing previously, and this makes me happy.
NB: I should include a paragraph including words like 'reward pool', and 'linear model' in this blog, but to be honest i don't care so much for this, what i think is most important is your visibility and engagement on the platform from your breadth, or reach, via voting; especially for Minnows trying to make a name for themselves. The pool and model can come later! Woop!
Is it worth the investment then?
I certainly think so. Without a good deal of luck / a pretty face / a 'bloat vote' (surely a @whaleshares competition contender!!?) from a Whale, it's going to take a little while to reach 500 SP. Speculate to accumulate someone smart (and now probably very rich) once said.
So, if you are serious about your Steem, this seems like the a good route to take. Beg, borrow, or steal, or just write good blogs/comments and buy your way to 500 SP - It's the holy land for this current fork in the road in my honest opinion.
Have a good day all and thanks for reading!
Asher
If you liked this blog please Up-vote / Follow / Resteem / Thanks!
img source: eatsparkcity.org/wp-content/uploads/2015/04/Fork-in-the-Road-2.jpg
Im serious about steemIT, and what you say make sense. If i had the money, I would have invested
You'll get there man 👍🏾
One step closer every day.
#minnow 😕 🐟
Feed the Minnows ✌🏽
Yes definitely! Haha we're hungry lil guys 🐠
Well, we will see what happens, but with the new setup it seems that the ones that will suffer (if anybody will) will be the smaller and newer accounts. Of course, I'm sure many larger users will be responsible like you plan to be, but certainly some will not be and will just do the calculated thing that would allow them to reap the most rewards which in turn might keep the large players large and sideline the smaller ones, unable to compete.
In the end, I remain positive about the future growth of the platform regardless of the actual settings.
Cheers, yeah I'm positive overall, it's certainly a good talking point at present. Good luck to you!
Thanks and same to you. Actually one of the witnesses left a really enlightening comment on my post where we started talking about it and it's worth checking out.
I don't think they had bad intentions here. I think they are confused on how these changes will manifest.
Confused and uncertain indeed. Well at least you can roll out the 'I told you so' if the kak hits the fan. It is with hope more than expection that I'm viewing this a good deal for the minnows.
Post RS are promised! Steem on @abh12345 :)
Thanks very much!
It's a nice housekeeping post - it deserves coverage today of all days @abh12345 :) Steem on!!
Cheers mindhunter, you too!
Thanks am glad with your detailed write up. If i increase my SP to 500 what value would generate per upvote?
It's .02 at full power currently, so maybe .08 after the hard fork? Best thing though is you would have the slide bar and be able to spread your power over move votes.
Thanks
Pleasure! Been trying to get the word out to us minnows!
Great advice 🙌🏼🙌🏼
Cheers dude, I see you been stackin fast since May!
Been going ham for the last 14 days, I just started two weeks ago. I see you doin the same 🙌🏼🙌🏼🙌🏼
Bought most of mine but yeah, powered up everything so far too!
First of all, thanks for making it abundantly clear at what point the slider gets activated. I did NOT find this info anywhere! However I have a LOT of questions and as with many things in steemit, I don't know whom to ask!
What is the appropriate way to use this slider & where all can I use it? Also what can this slider possibly achieve, in terms of NOT depleting my VP?
I can buy myself to 500 SP, but if what you say is true and minnows will suffer, then this platform will NOT gain much traction in upcoming months - so why should I invest in more Steem/ SP now?
If anyone can make a video on the voting power before and after today's HF, it would be ideal. I am reading a lot of content, but still not very clear.
Thanks for the reply, ok let's have a go at this!
I couldn't find the slider SP amount either, so thought i'd test it myself!
The slider appears when you click the upvote button, be it on comments or a
Main post. With the talk of 10 power votes before you start draining your vote power, I think it's very useful to have this tool.
Examples:
I currently enter a daily competition where you vote on the main blog, and then one of three options. The option is just to choose your entry, so this is a place I would vote with less power. The blog total is the winnings so I'd put more power there.
Voting on a post, at 30 mins, you expect to fly to $3000 might a place to use a full power vote.
Then you have comments on your own blog, you want to encourage posting and return visitors so they need votes too.
I'm no expert, this is just my honest view and I hope it pans out the way I see it. Hope this helps!
Thanks for the response. So this basically determines your vote weight? i.e. if you have 95% VP and you choose the slider at only 10% you effectively only vote with 9.5% of your power - is this correct?
I remember reading that the VP drains currently at 0.5% of the remaining VP; so in above case if I did not have slider I would have drained myself 0.5%*(100-95)? With the slider set as above in this scenaro how much will the drain be?
Also does using a lower vote weight => I can vote on more than 40 articles before I see my power drain completely?
That makes sense to me, but I couldn't say for sure. I guess many folk will be toying with this over the coming weeks. I was thinking 25% power would give you 40 votes before starting to zap you.
The crux of my post regards continuing your voting patterns as a minnow, spreading your votes across the areas that I see are key to grow. With 10 votes, resulting in a flat battery, this isn't possible in my opinion.
Thanks for the comments, sorry I can't help further... yet
Thanks! I powered up to > 500 SP.
Yet to get this sliderGot the slider after a half hour wait :)
Nice one! 😎
meh...I just vote on what I like
I think it's called curation.
I dont' strategize.
I don't think you need to worry too much, my main thoughts regard the minnow accounts.
you mean I'm not a minnow?
I was pond scum for months and months..then I became Krill.
I thought I was still a minnow.
a minnow alligator gar maybe...
I don't think you are chap! Fish size aside, it does look like you've reached the magic 500 SP, just 😜
oh yeah...I did that.
I guess that was 'liftoff'
Glad to hear it 😏
Thanks for the walk through! Makes a lot of sense to top up 500 anyway
Thanks, and yes I certainly think so to!
very well said @abh12345. Minnows should act.. (applies to me as well of course)