I want to buy $ 1000 of steem ! But but I do not understand this would give me the power to vote?
I want to buy $ 1000 of steem and invest in the community, but I would like to know what benefits I have and how this works
I want to buy $ 1000 of steem and invest in the community, but I would like to know what benefits I have and how this works
You will be able to vote, comment and post more times. Your votes will carry more power (worth more dollars) so instead of your current vote being worth $0.001, you will be able to give votes worth $0.2 and you get to choose how much of a vote you like to give each individual post using a slider from 0% - 100%
Think of this as a deposit of money you earn interest on. The higher the deposit, the more interest payment you get. And these interest payments are used for the votes and your activity. That's why when you vote, you don't actually lose money but you gain money for your curation (gain other peoples interest payments). All the interest payments are coming from the current inflation of the currency. Basically more coins are created from thin air.
Once you power up and your votes are worth more. You will starting getting paid more for curation. As one of the factors of curation rewards is the power of your vote. There are many other factors as well.
Each comment and post you write is a transaction (data transaction ) which costs money. This is also paid by your interest gains. For example, as of your funds now, you only have 15 comments left to make until you reciever your next interest payment which happens every few days.
Just remember that this is a risky investment. And once you power up, you can only withdraw your money in increments over a period of several weeks. I believe its a great risky investment.
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Ok ty bro
Yes,if you power up your 1000 worth of Steem to Steem Power,your upvote is gonna increase in value so you will get more curation rewards when you upvote another persons post.
But as stated above,if you power up you can withdraw you money in 13 weeks each week getting back 1/13 of your investment so it kinda risky.
You will also be able to do a tonmore comments and upvotes.
If you are in it for the long run,it's all good.
But never invest money you can't afford to loose.
That's it.
I hope I helped you with your question.
Hi @kisskitty I am pretty sure that having SP allows you to post and vote more.
But I am not 100 percent sure how it works, so I will resteem this as some hopefully some of my friends will be able to enlighten the both of us!
Have a good one!
ty
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