You Would Be Insane Not To Power Up Right Now + HF19 Mindset Shift
Introduction
I've been on Steemit.com since May 2016. I have been here through the highs and the lows. I've seen what changed in the front-end and the back-end. Lots of things changed since then...mostly for the better.
The latest change is HF19. No other HF has had such a profound impact on my behavior. In this short post, I will outline how it transformed my voting pattern and what I want to do with my new found power.
I've chose the above image because I found myself debating the side of me that wants to game the system and the side of me that want the system to thrive...more on that below.
HF19 - You Would Be Insane To Not Power-Up...
Thanks to my followers and people who vote for me, I've accumulated a significant stake. In the past, even though I wanted to power-up, the increased benefit of adding an extra 1000 STEEM in STEEMPOWER was marginal. Basically, acquiring more power was like climbing a rock wall at 90 degree.
Maybe I would add a $0.01 in rewards on my vote by adding a 1000STEEM if at all. Basically, there were more incentives for me to cash out and put money in the bank than locking my STEEM for 3 months in SP.
Now, there is a linear progression when it comes to power differential between users. Now I'm no longer rock climbing my way to increased influence...I'm taking a walk on a 45 degree slope!
Of course, as it stands today with, I would suggest everyone to keep their post reward to 50% SP / 50% SBD since SBD are at a premium for now.
The value of STEEMPOWER has increased tremendously and it has become a very powerful tool. You would be insane not to get as much SP as humanly possible while the price of STEEM is around the $2 mark.
HF19 - Is Changing My Voting Habits
Now, once my voting power is back up at 100%, if I swing my vote at full throttle, I estimate that I can send $100 to any post that I choose to. That's just hard to process to be honest...
I was in front of my computer for the last 2 days wondering what I should be doing with this kind of information. The less noble part of me said that I should be upvoting myself all the time and suck as much steem that I can towards myself.
HF19 Turned Me Into A Patron
The more noble part of me said that I can actually do some good in the world. For example, I have my nephew who's on Steemit. He is a talented musician and he has been uploading his improv. You can check him out, his handle is @dampfire
With this power, I can help him fund his summer so that he can focus entirely on his music.
There is also a very big youtuber with who I had an email correspondence yesterday. His work was instrumental in me becoming Christian and accepting Jesus Christ as my Lord and Savior. He will now be posting on Steemit and he will have my patronage.
My fiancee has a music teaching ministry for underprivileged kids in partnership with "Youth Unlimited". With my vote, I can empower this organization to reach out to more kids. I see these kids and they need a strong role model that care about them outside of what is often a very difficult situation at home.
All this to say that the STEEM blockchain is agnostic about HOW we use our votes. Some people say we have to reward good content...but I am finding that it can also be used to fund charities that I care about. Who knows, maybe one day there will be an interface entirely dedicated to vote for charities.
Finally - The Moral Hazard
Just like I said above, there was a less noble part of me that considered finding way to vote for my own interest. Setup 5 bogus account that are my own and vote for my own stuff. If I thought about it, you bet someone is working on doing just that.
Those bad actors are here for sure and they don't care about the future of the "blogchain". It's short-term, narcissistic thinking. I don't think there is anything we can do to prevent this, the previous algorithm was set to prevent that yet people complained of the different of power between whales and minnows.
I am curious to see the voting statistics that will come out after 7 days.
Back To You
So how did the change affected the way you go about voting? Please comment below.
So basically what you're saying is...
HEY STEEMIT users, SAVE your money and power now while STEEM is $2 because 5 years from now when it hits $20 you're going to be FILTHY rich. Or something like that?
@chuckypita you are so right my friend steem will be in top 5 cryptos eventually can't wait myself
Hold on tight and buckle up this ride may get rough.haha count me in
Totally agree mate! Just powered up and loving it. Cheers and Steem on!
While it hasn't necessarily changed my habits (im brand new here so i dont carry any weight) it has changed my mindset. I plan to power up as much as humanily possible in an effort to grow the value of my upvote. I really wish to give back to this amazing community!
At first there was an idea to vote for my comments, but then I decided - it's better for someone else's :)
Nice! Then I decided to upvote you! :)
I Powered up yesterday.... Whats the worst that can happen? It's only a 3 month waiting period, if i choose to power down.
Nice move! 👍
If I am not wrong if you decide to power down you will be getting close to 8% of your Steem every week, so it's not a bad deal. But I am not sure of this, maybe a Steemit expert could tell me if I am right.
Yes, this is correct, about 8% of what SP you had at the time you set a powerdown to start. I intend to pile on the SP as quickly as I can get my hands on money to do so. I have about 500€/month coming through my mining, paid out every week, that's going ALL IN to SP, and I figure once I reach 2000 steem I will start a new power down. It's like a giant capacitor for my financial circuits. It is a very useful tool for helping maintain and disburse a big surplus so that you keep accumulating it.
Thanks for sharing your plan. I'm starting to understand this process more and more. Cheers.
As a fellow Christian I was less inclined to try to "game" the system than to overload the system with bogus posts! I've been seeing people shooting out absolute garbage at a rate of 15-20 posts a day (or more)... I even wrote about it today.
I am more circumspect with my votes... I decreased my power to 25% so I can continue to spread the wealth. I enjoyed being able to give the 100% thumbs up, but I'm sure everybody has the same dilemma! Good post (You got my 25%)lol!
I never used the slider before. Well, 2 month back I was happy to be able to finally vote for 1 cent! THe the price jumped and it was 6 cent!
Then HF19 and it was above 1$. OMG!
And of course since I votes more then 10 times a day I now certainly have a reason to use the slider - besides being able to give based on the worth I think the post has.
That's my problem... I want to give everybody 100%... Now I can't!
A newbie's strength can not be divided into four parts. Therefore, I can only 10 times vote
That will change soon... it doesn't take that long!
Having the ability to fund the projects we believe in is fantastic. Bravo to you brother.
One of my dreams on Steemit is to find folks who are posting in third-world countries and upvote their articles to give them a day's wage - I can do that now.
I agree with you. Now is the time to be purchasing Steem Power. The $2 dollar range for Steem will not be around much longer.
This is such a cool thought to ponder. We can help give others a chance who before never had the platform to share their amazing stories and dreams. Here's to a collective future better for all!
Amen!
Well spoken I feel the same angel demon.
I imagine a lot of people will power up till they get the slider at 1mv.
I guess the rewards will decline for 5 more days then pick up slowly as reward pool refills.
After that, when everyone starts receiving their new higher rewards I think there will be a lot of buying pressure.
HF19 changed the perception of voting and voting power. Still, it's full potential will be seen after couple of weeks beause it seems that party is still going on with unbalanced quality=vote. I don't believe there will ever be fair vote but it might boost up minnows in time. Thanks for this article.
So like, now it's become honest?
What do you mean, honest?
Just
"The less noble part of me said that I should be upvoting myself..."
Yes... yes... come to the dark side
I always find it weird when people brag about steemit but they never power up...If you believe in steemit long term then power up family.
I always power up!!