Why Your Posts Should Always Be Powered Up 100%
Well, it has been two weeks for me on Steemit and I like what I see so far. One aspect that has taken me a little bit to understand is the post rewards dropdown.
You have the choice of:
- Power Up 100%
- Default (50%/50%)
- Decline Payout
I have experimented with both the 100% and 50% options to see what works best. I've come to the conclusion you should be powering up 100% every article you post (which I will be doing every post onwards).
On Steemit your influence is dictated by your STEEM Power, the more STEEM Power that you have, the more your votes will be worth. This means if you automatically upvote your own posts (and you should) instead of earning between $0.00 and $0.01 as a newbie you might earn $0.05 or $0.10 (depending on your power).
STEEM Power = money
The more power you have on Steemit, the more money you earn, it's simple. If you're planning on being a long-term user of this platform, you need STEEM Power and lots of it.
While earning SBD via the 50/50 option might be nice if you're looking for short-term profits, the 100% will accumulate and make you more influential. People with influence on this platform attract a following, chasing elusive well paying up votes.
Feel emPOWERED and start going 100%, it will work out better for you in the long run.
Actually, you should take the 50/50 rewards because the price of SBD is about $7 instead of $1, which you can trade in the Steemit internal market - which you can navigate to from the wallet - for more Steem than by Powering Up.
Let me explain: let's assume you have a post with a pending payout of $2 according to Steemit. With today's market price, if powered up, you'd get about 1/3 of Steem exluding the curation rewards for upvoters.
Now, with 50/50 rewards, and assuming your post would earn $2, you'd get 1 USD worth of Steem, which is about 1/6th at the moment, AND 1 SBD which is worth about $7 which you can trade in the market for about 1.1 Steem with the current prices. So, a total of about 1.3 Steem, against the 0.33 Steem from Power Upping. About 4x more.
This is because the 'potential payout' doesn't actually show the trues USD value with a SBD at $7, instead it assumes SBD being at $1 which it was initially used to be at. In the future there might be something done for the SBD pegged back to $1 but I don't expect that to happen soon. The price might also come back down by itself from the new SBD created from post payouts, but I don't know. But as long as SBD is above $1 it's more profitable to take 50/50 payouts.
There are some plug-ins that show the actual value of pending payouts in USD with the SBD prize taken into account.
Tldr; take 50/50 rewards, trade SBD into Steem and power it up, which grants you more than '100% Power UP' -rewards from a post.
So yeah, new users might not be aware of this SBD case because its price surge happened already a while ago and hasn't been discussed as much lately.
Thanks for this info. Still learning as we grow :)
No problem :)
This is quite insightful. You're definitely correct, I wasn't aware of the SBD case or the price surge, you should definitely consider doing a write-up on it because I was completely unaware. One would assume that 100% would yield more, but based on your info that is far from the case, at least at present.
Hmm.. a reminder post might be appropriate because there many new users since the SBD price increase.
check out @minnowbooster ! A great alternate to getting paid!
all good points. New here too. Looks so much better then FB or youtube. Pay to play and great content. No ads. That in it self is a big win
Welcome to Steemit, Joe. It's definitely a lot of work to get recognised on here, but a great opportunity to build a following and eventually make money for posting quality content. Definitely better than anything else out there, for sure.
I find the "trend" and "hot" sections focus readers attention making it very difficult for minnows to get noticed!
I'm trying to get a following for my swing trades
Someone else just suggested minnowbooster, but I'll just re-iterate that now, and I'll let you know how my experiment with it goes ;)
Just to confirm, minnowbooster works, there's a useful guide on how to use it here...
https://steemit.com/minnowbooster/@ilyastarar/understanding-minnowbooster-how-to-use-minnowbooster-7-minnowbooster-services-you-should-know-about