Upgrading my Steem Power...
Hi everyone,
I upgraded my Steem Power to 4.644 STEEM today...
Not very much I know, but we all have to start somewhere, right?
Can someone shortly explain what effect this will have and how I will benefit from upgrading my Steem Power?
- The rewards I earn on Curation Rewards will be bigger
- My votes will be worth more money?
Is this everything I should know?
If my voting reward becomes bigger, does this mean I donate more money? In other words I basically lose money if I upvote content? I would love some explaining, upvote guaranteed!
Trying to understand these basic concepts but I do feel the platform Steemit could do a way better job explaining this.
Thank you for reading, please leave a comment!
Cheers,
MAXIDIGI
We all started small.
Your votes will be worth more, therefore you get bigger share of the pie. When the curation rewards are calculated.
The reward system word on so called 'vests', the amount of vests you have is determined by your SP. When rewards are credited, the person with the most 'vests' has the right to the most rewards.
It's a little bit more complicated than this, but this is the basic idea.
Thank you, I think I understand this but I often wonder when I am upvoting content if I am losing Steem Power or Steem dollars at the same time? In other words is the value of my account decreasing if I do so?
I will check out your blog and follow your content from now on. :)
You don't loose any of your SP and Steem Dollars.
Voting is handled by a another metric called voting power. Which is set at 100%. If you vote. That percentage goes down a little bit. But it also recharges automatically.
you can check your voting power here.
steemd.com/@maxdigi
Amazingly helpful! Thank you!
Bookmarked this website :)
Vote where you can it's the way to grow. You can use 20% of your voting power every day and it will regenerate automatically. Any more than this and it will take longer to come back.
It will take time to grow on here but the best way to do it at the start is by posting, commenting and interacting as much as possible. Find a group or interest that you can get involved in and talk to people on the same wavelength as yourself.
Good solid information! Thank you for this comment.
I'm definitely trying and I'm moving slowly in the right direction...
I only have around 52% of my voting power left, so now it's best that I stop upvoting content and wait for it to be 100% again?
Definitely. And even more so when your vote is more valuable. It will take you 2 and 1/2 days now to get your vote power back to full. If each of your votes should be worth $1 now it will only be 0.52c and loses its power.
The fastest way to gain followers is with a powerful vote. People go where the money is so the bigger you grow you account the faster it will continue to grow. In my experience anyway.
My first 4 months I got nowhere, earning 20c per post. Had maybe 60 followers. Then in the last 1 month with a lot of posting and commenting ive grown my sp to 500 and gained a few hundred followers making it much easier to earn from my posts.
I see. Thanks again for the information! I will take everything you said into account.