I have never decided to withdrawal any of my Steem Dollars and even though I don't have any at the moment I would rather just keep transferring to Steem Power. Anyone else feel this way also?
I've been using SteemIt for about a month and I still don't feel like I understand how it all works well enough to choose wisely, but I am leaning towards holding steam power because steem is still very new and if I had gotten into Bitcoins this early then I would be a millionaire by now.
Some things that I have learned about how it works though:
Steem Power has a 100% interest rate (your SP doubles every year)
Steem itself is designed to go down in value with the inflation of SP
Steem Dollars are always roughly 1 US Dollar
Technically your Steem Power doesn't go up in value from the 100% interest (because that's inflation, and Steem itself goes down in value along with that inflation), but it does go up in value over-all when more people start using Steem and investing in their own Steem Power (because of supply and demand). Basically, right now Steem is where Bitcoins where in 2009.
I withdrew my Steem Dollars once, just to prove that I could, but then I put it back into Steem Power because there are even more benefits to holding SP, like how having more Steem Power also increases the curation rewards from upvoting ;)
I had no idea that SP doubles in a year, but I do also like how the curation rewards increase when upvoting. There's so many tricks that we need to really find out. Cheers!
I just bought my first steempower, and it seemed like it doubled from steem to s.p.
I like steemit and smp. I am in for the long haul. I hope it is successful. I know it is in beta but I think it will be a successful platform. Just my humble opinion.
Nice input, I just have a quick correction, "your" Sp doesn't double every year, SP doubles every year, yours gets a 90% gain in the year, so if you don't earn 10% of the SP you earn in total from comments, posts, and curating, you'll actually lose stake in the platform through inflation.
You'll still gain SP every year but others will be gaining a slightly bigger stake while you'll be losing a little if that makes sense. You hit the nail on the head at the end with the price of steem though.
Getting and holding Steem Power is my investment in the future of this platform. I have always used my SBD to buy more Steem Power. At this stage in the growth of steemit, I think that users should be more concerned with gaining steem power then with making profits, but that's just my personal opinion. :) So long story short, I totally agree with you dmacshady!
I view my SP as an emergency fund. I know, it's not super-liquid blah blah blah, but I'm trying to get to 100k+, and at that point, provided that value is ~$1, well, it is a great thing to have and will bring me financial stability.
I totally agree with you as I see it as an emergency fund as well, and I would really love to see my account grow to 100k+ as that would be so beneficial. Cheers to you bro, followed!
I personally want both, and if you look at my wallet, that's how I have kept it.
Of course, its personal preference, but Dan makes good points in his post about Steem Dollars, I have been thinking hard lately about cashing out my Steem Dollars and putting into bitcoin, but if we can do what Dan is suggesting I wouldn't have a problem keeping them on the Steemit platform for later use.
I hold Steem Power, because I want to be a major part of this community someday. Steem Dollars don't get the interest rate that Steem Power does. In addition, Steem Powering up shows that I am on this platform for the long haul and am willing to work to make it a success. I have skin in the game, I am less likely to abandon it.
Great view. Hope more will follow this strategy. I don't power down and won't, SP is way too precious. With the SBD I earn I trade and finance my collage :) everybody has his reasons but stacking SP is great
This is what I realized and said from the beginning. That if you recognize truly the potential of Steemit and its social media blockchain. Well then the only thing you can truly use is SP, why I have only that too. Its essential for weight on curation votes and helps you bump up your comments in people,s posts ! Plus yes it pays back nicely with the daily payouts, its just so nice to see your Steem Power clock rise every day !! Steem On !!
Thank you for that, I actually had an extra 150 SD that I gave away less then two months ago to a friend who introduced me to Steemit. Other then that I didn't take out a single dime. :)
well we are two real believers then as it is also my case !! People can decide what they want for themselves, its their choice but me I am here to see this platform go all the way to its potential !! My SP serves this purpose as does yours !! Steem On @dmacshady !!
Correct, also don't forget yours supporters. They will help yours posts Bump up later on. Even a replies help. Just close one eye, every bit helps. Don't get upset with them, we are here for the same game.
If I help you, later you will help me back. Goes hand in hand. The bigger the group , we all can achieve it.
I totally agree with you bro and I've been following you for some time now. I always like to support the team and reply and vote when I can. Cheers though broski!
Thanks brother I really appreciate that, very awesome. I was going to say when I was upvoting trending posts in the past I would notice how sometimes I do see the price increase by a couple dollars. So I will keep upvoting on trending posts. When I vote on regular posts that the price doesn't change much. Support the team and we will live the dream! :)
I've been using SteemIt for about a month and I still don't feel like I understand how it all works well enough to choose wisely, but I am leaning towards holding steam power because steem is still very new and if I had gotten into Bitcoins this early then I would be a millionaire by now.
Some things that I have learned about how it works though:
Steem Power has a 100% interest rate (your SP doubles every year)
Steem itself is designed to go down in value with the inflation of SP
Steem Dollars are always roughly 1 US Dollar
Technically your Steem Power doesn't go up in value from the 100% interest (because that's inflation, and Steem itself goes down in value along with that inflation), but it does go up in value over-all when more people start using Steem and investing in their own Steem Power (because of supply and demand). Basically, right now Steem is where Bitcoins where in 2009.
I withdrew my Steem Dollars once, just to prove that I could, but then I put it back into Steem Power because there are even more benefits to holding SP, like how having more Steem Power also increases the curation rewards from upvoting ;)
I had no idea that SP doubles in a year, but I do also like how the curation rewards increase when upvoting. There's so many tricks that we need to really find out. Cheers!
Thanks for the info. I upvoted.
I just bought my first steempower, and it seemed like it doubled from steem to s.p.
I like steemit and smp. I am in for the long haul. I hope it is successful. I know it is in beta but I think it will be a successful platform. Just my humble opinion.
Nice input, I just have a quick correction, "your" Sp doesn't double every year, SP doubles every year, yours gets a 90% gain in the year, so if you don't earn 10% of the SP you earn in total from comments, posts, and curating, you'll actually lose stake in the platform through inflation.
You'll still gain SP every year but others will be gaining a slightly bigger stake while you'll be losing a little if that makes sense. You hit the nail on the head at the end with the price of steem though.
Thank you, I didn't know that.
Thank you for clarifying.
Glad to help. :-)
Getting and holding Steem Power is my investment in the future of this platform. I have always used my SBD to buy more Steem Power. At this stage in the growth of steemit, I think that users should be more concerned with gaining steem power then with making profits, but that's just my personal opinion. :) So long story short, I totally agree with you dmacshady!
Thanks man !
More or less:
I view my SP as an emergency fund. I know, it's not super-liquid blah blah blah, but I'm trying to get to 100k+, and at that point, provided that value is ~$1, well, it is a great thing to have and will bring me financial stability.
I totally agree with you as I see it as an emergency fund as well, and I would really love to see my account grow to 100k+ as that would be so beneficial. Cheers to you bro, followed!
I have a similiar view. If Steemit gets more popular, my SP should some cash for a rainy day
Oh yeah!
I can see myself becoming a crypto-billionaire.
I wish you all the success as that would be enticing. :)
I agree.
I personally want both, and if you look at my wallet, that's how I have kept it.
Of course, its personal preference, but Dan makes good points in his post about Steem Dollars, I have been thinking hard lately about cashing out my Steem Dollars and putting into bitcoin, but if we can do what Dan is suggesting I wouldn't have a problem keeping them on the Steemit platform for later use.
Yeah I hear you for sure.
Hello I think i must have missed that post of Dan,s !! Could you send me a link to it please ? thanks @fat-like-buddha.
I hold Steem Power, because I want to be a major part of this community someday. Steem Dollars don't get the interest rate that Steem Power does. In addition, Steem Powering up shows that I am on this platform for the long haul and am willing to work to make it a success. I have skin in the game, I am less likely to abandon it.
You hit spot on mate!
Same for me. I understand the rational behind SBDs but for me this currency wouldn't be needed.
I'm in it for the long haul, not a get rich quick kind of thing.
Great view. Hope more will follow this strategy. I don't power down and won't, SP is way too precious. With the SBD I earn I trade and finance my collage :) everybody has his reasons but stacking SP is great
Sounds good bro, seems like you're doing a great job so far. :)
This is what I realized and said from the beginning. That if you recognize truly the potential of Steemit and its social media blockchain. Well then the only thing you can truly use is SP, why I have only that too. Its essential for weight on curation votes and helps you bump up your comments in people,s posts ! Plus yes it pays back nicely with the daily payouts, its just so nice to see your Steem Power clock rise every day !! Steem On !!
Thank you for that, I actually had an extra 150 SD that I gave away less then two months ago to a friend who introduced me to Steemit. Other then that I didn't take out a single dime. :)
well we are two real believers then as it is also my case !! People can decide what they want for themselves, its their choice but me I am here to see this platform go all the way to its potential !! My SP serves this purpose as does yours !! Steem On @dmacshady !!
Thanks brother and we are in it till the end bro, always finding little tricks to get better on this platform eh.
Nor problem, but no tricks, just work and personal investment , its the key i guess to success here!!
For sure bro, thanks again.
@dmacshady
Check your message
Hey broski, how do I do that? :)
Deleted
Thanks bro I appreciate it, I feel the love. :)
I have less steem power then you, does that mean my SP is not strong enough and I should only be voting on trending posts? :)
Correct, also don't forget yours supporters. They will help yours posts Bump up later on. Even a replies help. Just close one eye, every bit helps. Don't get upset with them, we are here for the same game.
If I help you, later you will help me back. Goes hand in hand. The bigger the group , we all can achieve it.
I totally agree with you bro and I've been following you for some time now. I always like to support the team and reply and vote when I can. Cheers though broski!
Thanks brother I really appreciate that, very awesome. I was going to say when I was upvoting trending posts in the past I would notice how sometimes I do see the price increase by a couple dollars. So I will keep upvoting on trending posts. When I vote on regular posts that the price doesn't change much. Support the team and we will live the dream! :)
The slider upvotes? I've never heard of it before :D
You will get one soon, when you at my level.
Thanks, you're a great person bro.