Growing my Steemit Account Part 5 (1/16/18)
5th month on steemit completed. I think I only missed posting one or two days this month and I have at least made 1 comment everyday. Most days I do 10 or more. What I have continued from month 4 is curating and comment on other steemian posts. I enjoy reading crypto news and ways of earning more steem. A lot of my earning come through getting upvotes for my comments. I do what I can to reciprocate. On to the good stuff.
Current Stats:
2.303M VESTS
0.409 STEEM
$5.816
Also I have made two investments for this month, they are passive incomes toward building my steemit account. First is delegating my steem power to @jerrybanfield and second is to invest in a computer mining rig created by @tipu and known as @cfminer. Both will continuously earn me SBD/Steem daily without me having to do anything. Sweet!
This month I have quadrupled in steem vests. I wish the earning was because I became famous on steemit or got an upvote from a whale ;P What I actually did was I took all my saved crypto from the past five months and started to gambling on a website called https://luckygames.io/?ref=10845936
At first I played it safe and earned about 15% of my original investment, but then blew up my account because I got greedy! Lost it all. Fortunately I had another stash of crypto saved on steemit and transfer that over to play again. I learned my lesson and took out some steem while I was still ahead. However just to be transparent the day after I again blew up my account. Gambling is a risky business.
Currently I am delegating a majority of my steem power to @jerrybanfield. I opened a steemit account prior to discovering him but his youtube videos taught me what I needed to do to continue to earn on steemit. What is great about this is I am supporting his bot and projects while I am earning daily SBD and Steem. I plan to continue saving more steem power and start selling my upvotes either on @minnowbooster or @smartsteem as their ROI is even higher than delegating steem power. A drawback though is giving out my active password. I am still deciding if this risk is worth the bigger ROI.
So before January has ended I am officially a minnow, above 500 SP. One goal down and two more to go for the year. They are to own 10k Smartcash and build my first mining rig. I have no clear path on which to accomplish next but have a little more than 11 months to achieve them. Feels very doable.
Thank you to all who have help me through the growth of my account. I appreciate every little bit of support I am getting and hope to return the favor via upvoting other posts and comments. I look forward to month 6th and can not wait to earn more. So pumped that I hope to double this amount by the end of the 6th month. We shall see ;)
As always thanks for reading and everyone steem on.
Past Posts:
Part 4:
https://steemit.com/steemit/@mawit07/growing-my-steemit-account-part-4-12-16-17
Part 3:
https://steemit.com/steemit/@mawit07/growing-my-steemit-account-part-3-11-13-17
Part 2:
https://steemit.com/steemit/@mawit07/growing-my-steemit-account-part-2-10-13-17
Part 1:
https://steemit.com/investing/@mawit07/growing-my-steemit-account-9-14-17-update
Can you explain the process of Vests? I am curious as to what that means.
Vest is your steem power on steemit. I checked and currently 1 steem power is equal to 2047.58 Vests. Look up steemdb.com and your name for further info. Each upvote you earn and give is a specific amount of vest distributed to users. How we earn rewards on steemit comes down to how much vests we have. The steem you hold is only worth what you trade at today's prices, but the steem power you hold is a "vested" interest in the steemit platform. I think of steem power functions like a Certificate of Deposit while steem functions like a fiat currency. Thanks.
I have just been playing safe, growing my SP through payouts on posts, comments and such, in no hurry to make huge amounts, but it is interesting to read about how you "blew up your account" couple of times. I will go back and read the earlier installments of you ventures and hopefully learn how not to do things!
Thanks for this, look forward to reading the others.
I was referring to the luckygames account value. Fortunately my steemit account is mostly intact. Thanks.
That's cool and so sweet @mawit07, God bless us brother!
Very appreciative of the support. Thanks.
Good luck sir. I helped by giving you an upvote :)
what do you mean by delegting steem power to jerry? I dont do bad on steemit when i finally decide to wrote articles but any boosts would help. Thank you
Delegating steem power is when one donates their own upvote power to someone else. It is only temporary as the owner of the steem power has control to remove the upvote power donated. I give my steem power for jerry to use and earn a passive income off of it.
Very interesting. Just read up on it a bit. I still dont quite understand it haha. Have you had decent returns on it?
1,000 SP is earning me about 1.2 SBD a day. If I sell my upvotes to minnowbooster or smartsteem I get around 3 SBD a day. I went with delegating to Jerry because he was the one that made me take interest on steemit. If I save enough SP the next investment I will likely make is selling my upvotes.
Very interesting
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by mawit from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.