Tutorial - How to Delegate SP to another user using the SteemConnect tool from Busy.org!

in #delegation4 years ago (edited)

Have you ever wanted to delegate SP to one of your friends? Now you can! The SteemConnect tool from Busy.org lets you delegate SP to another account without needing to run a complicated API tool =)

Before using the tool, please read through the entire post and make sure you understand how it works. Some math is required ;)

Step 1 - Convert the SP amount to 'VESTS':

Before you can delegate SP, you will need to convert the amount of STEEM that you want to delegate into 'VESTS'.

1. Go to https://steemd.com/ and lookup the number `steem_per_mvests`.
2. Calculate `(1,000,000 / steem_per_mvests) * amount_of_STEEM_you_want_to_delegate`.
3. Round/trim the number so you have exactly 6 digits after the decimal. Include all six numbers, even if the last one(s) are zeros.
4. Make sure you have at least that amount of SP currently in your account powered up.

As an example, the current `steem_per_mvests` is `482.923`. If you wanted to delegate 50 STEEM of SP to a friend, it would be `(1,000,000 / 482.923) * 50` = `103536.174504`.

Step 2 - Plug the values into the SteemConnect URL

You will need to plug in 3 pieces of information into the URL:
`https://v2.steemconnect.com/sign/delegateVestingShares?delegator=youraccount&delegatee=theiraccount&vesting_shares=N.NNNNNN%20VESTS`

1. Plug in your account name in place of `youraccount`.
2. Plug in the account name of the person you want to delegate to in place of `theiraccount`.
3. Plug in the amount of vests you calculated in the previous step in place of `N.NNNNNN`.

Using the example above, if I ( @timcliff ) wanted to delegate 50 SP to my spouse ( @artist1989 ), the URL would look like this:
https://v2.steemconnect.com/sign/delegateVestingShares?delegator=timcliff&delegatee=artist1989&vesting_shares=103536.174504%20VESTS

Step 3 - Delegate the SP using the URL

1. Copy the URL that you used in the previous step and paste it into your browser.
2. You should see a screen that looks something like this:
3. Once you confirm everything look good, click on the "Continue" button.
4. You will need to use your Active key to sign the transaction (warning).
5. You should see a success message like this:
6. You can verify the delegated SP shows up in your friend's account by plugging their account name into `https://steemit.com/@accountname/transfers`.

Some Extra Notes

1. If you want to delegate more or less SP to a user, just delegate the new amount to the user. It will replace the previous delegation value with whatever the new amount is. (It does not add or subtract.) To remove all delegated SP from a user, just do a delegation of 0.000000 VESTS. After you un-delegate SP, it takes 7 days before you can use it again.
2. You cannot delegate SP that is currently in the process of powering down. You also cannot start a power down with SP that is currently delegated to someone. If you power down from the Steemit.com UI, the only option is to power down 100%. I plan to post a guide on how to power down less than 100% SP soon, so users can still power down some of their SP while part of it is delegated.
3. If you would like to learn more about how delegated SP works, check out this post from @liberosist.
4. Official support for the tool is provided by the Busy.org team. If you run into issues though, you can reply to this post and I'll do my best to help out. You can also ask for help in the #busy channel of steemit.chat.

Thanks to everyone in the Busy.org team for providing us with this awesome tool!

Reminder to vote for witnesses!

The Steem witnesses are the elected leaders of the community that power the blockchain. Everybody should learn about the Steem witnesses and vote on who they think is best. If you don't know much about witnesses or aren't sure who to vote for, you can check out this Witness Voting Guide. If you think @timcliff and @busy.witness are doing a great job, please consider voting for them! You can vote for witnesses here: https://steemit.com/~witnesses

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Be extremely careful providing your active key to anyone or any site.

This key allows anyone in possession of it to access all the money in your account.

It is not recommended that you share this key with anyone for any reason!

So if i understand correctly you don't recommend to use this option to delegate SP?

Thanks for warning! I nearly did it!

Thanks @sneak! I updated the post with a warning.

@timcliff
Hello I have a question, (because I trust you and vote for you as a witness)!

This cool dude called @artopium wants me to join his project " @ArtTurtle", and he wants me to sign up by using: https://www.artopium.com/space20/myartopium.cgi

This sounds really cool, but is this safe?
I would really value your opinion since you are so knowledgeable in these matters.
And Im not...Trying to read up on it... Thanks for sharing this article!!!

Sincerely!

/FF

I haven't heard of it before. If it is an independent sign-up (doesn't require you to ever enter your Steem keys) then I don't see any issues on the surface. I definitely would not enter your private keys into the site though.

3 years ago (edited)

Okay thanks for the advice @timcliff!
Would private "steem-keys" include for instance my steemit password?
(Thanks again for your advice, I appreciate it!)

Cheers!

/FF

Yes

Okay, thanks!

So can I trust the Busy.org team to keep my key safe? Or will they one day deplete my account... :S

If you see a powerdown you didn't authorise, you can always use your password to change your active key and cancel the powerdown, as I understand, although you'd lose anything you were holding in liquid form.
Either way, just dropped in to confirm these instructions worked a treat.
I'm going on holiday for a bit, and just delegated my voting power to @holoz0r.
I can already see it in his wallet. Thanks @timcliff.

Actually I guess with the possession of an active key you can always change the active key itself..

And undelegated okay a month later. Thanks again.

I have successfully delegate before and now for some reason I cant, its saying my active key is invalid. any ideas?

I am unable to delegate

I don`t know which key to enter here ?
kindly help me with it

my key isn`t working it seems,
I think I might be entering the wrong key here

@sneak
Yes,You are right the private key is the heart of our account.If it steal then we lost our account.

damn good info, now its easier to do these things with amazing tools. as it should

4 years ago (edited)

Damn... @timcliff I assumed that when you did it for me you waved a magic wand and said abracadabra, now I know that magic is dead. 😭

Hehe +1 😉

This is brand new magic. Before I posted this, I was doing all delegations via the cli_wallet API. Now Busy.org has made the magic available to all of you ;)

4 years ago (edited)

Vessel from @jesta lets you delegate steem power very easily.

That's so cool! You're truly full of surprises 😄
Also

I think we need trading market for this SP delegation.
So there will be more demand to hold SP.

I think a lot of users have started to form one 'unofficially' just by chatting with each other and making offers.

Thanks for sharing this, was interested to know about SP delegation. And voted for your witness :)

Cool, thanks.

Riveting. Thanks. So to clarify, one could stealth hack an account.
If a noob investor wanted help opening an account, the 'helper' could set up the account, noting the keys, wait for the dust to settle and the money to move in, then delegate most of that voting power to his own account, enjoying the large curation rewards, undetected.
The inexperienced investor wouldn't know he's losing out on curation rewards, and everything would look correct in his steemit account.
Trying to power down would ring alarm bells, but if he's holding long term that may be years away.

Well if someone is creating an account for you, hopefully you would trust them to some extent..

It would be advised to change your keys as soon as you get the account. They would have 30 days after that to 'recover' the account and steal it back, but you would notice that. Assuming you changed the keys as soon as you took ownership of the account, then that is all they could do.

If you are assuming that someone has your keys, then there are quite a few things they could do at that point. If they did what you were describing though, you would probably notice, since every time you upvoted it would not add anything to the rewards.

True. Careful who you trust.
I'm just thinking with the current delays and the numerous options for jumping the queue.
A clever operator could offer to set up accounts for lots of people, fail to remind them to change passwords, and keep an eye on their balances, consistently delegating himself half their voting power.
I think I saw someone offering to register account names en masse for \$15/each.
Caveat Emptor.

4 years ago (edited)

These scammers are just finding more and more ways right. Gotta be extra careful.
p.s this post deserves a resteem

Hopefully people don't fall for those types of scams. If they have, I think they probably have a lot bigger worries than someone delegating some of their SP.

Danke Mann

4 years ago (edited)

I realize this is quite old. However, after reading this 'thread' of thinking I wonder how many have come across this and see it as a "how to" instruction for some of the scammer types to get 'ideas'.

Trust is as much human nature as is distrust...depends on the human. The cryptosphere is based on trustlessness is it not? So I don't see how these sort of conversations can be kept from the blockchain...or hidden for the protection of the more vulnerable Steemians here.

Just my perspective from what I've read. Dotting I's and crossing Ts is far from an exact process. I came here by way of a link from a currently active post from a struggling artist, of which there are multitudes here at Steemit. I'm just pointing out this potential exploit-ability because I can.

I'm not much of a name/link dropper but I feel something is needed so those who doubt what I say can check backwards from here.

Protect your treasures here at Steemit, do not allow them to be exploited if you possibly can. If they find Steemit is also a den of vipers...well we can all lose our passions as quickly as we find them...can't we?

https://steemit.com/minnowsupport/@isaria/attention-fellow-struggling-artists-help-has-arrived-in-the-form-of-minnow-support-project-the-msp-creative-bot-and-the-steemit ...and yes...the link that brought me here is there. And the artist is certainly worth checking out, supporting and encouraging...with words...not just a lot of Steem.

~may all hatred cease...let there be peace~

I'm not sure what you are seeing as far as potential exploits / avenues of abuse.

FYI, just followed your instructions, and it worked beautifully. Appreciate it, Tim.

You don't need delegation to steal money if you have someone's Active key.

@timcliff steemit is great because of people like you taking out time to educate fellow members on how to better use the platform..learnt something via your post, thanks for sharing..following you and upvoted...keep it up

This is powerful! Wow, thank you so very much for informing us about this special feature, I had no clue about! this is so wicked and can't stop being impressed by the versatile of the platform and inherent potency.

All for one and one for all! Namaste :)

I'm definitely interested in delating SP.

But where can I read more about 'vests'? I see that unit tossed around quite a bit...

A "VEST" is a unit of measurement for the amount of STEEM POWER that a user has. There is always a conversion factor that goes from 'VESTS' to 'STEEM'. The amount of STEEM that you have per VEST will go up slightly over time, since the blockchain pays users interest on the STEEM that they have powered up.

Thanks for the detailed response!

I will keep re-reading it until it makes sense xD

Yes that's what I'm doing too. :)

Very good @gigafart

Try to look at steemd.com

I would love to be a recipient of some of that SP, please and thank you :)

Great post! What is the best account to delegate to if I want daily payouts?

I heard that @minnowbooster has around 25% APR while @jerrybanfield rewards with 60% APR. However even jerry banfield said in his posts that there are better rewards than this.

I don’t really recommend using vote buying services.

Is it bad for steemit community?
I am looking for ways to maximize my ROI in steem. I am relatively new to steemit so any advice would be really appreciated!

I don’t think it was the original intention behind how the rewards pool was supposed to be used. Lots of people do it though.

a very clear exposition of how to transfer SP. Most technical explanations are not this direct. Thank you!

Thank you! I'm just now finding out about this delegating stuff.. very keen to test it out!

4 years ago (edited)

I have made this a bit simpler: Simple SP Delegation UI. :)
The steemconnect automatically convert VESTS to SP.

Shared :) to Facebook, this needs more awareness over time especially when we get more Users onboard

very nice. But what if

close Error
Oops, something goes wrong!

Error code: 1 Assert Exception

Do you want to try again?

4 years ago (edited)

The main things to check are:

1. Do you have the funds in your wallet to cover the fee
2. Are you entering the correct amounts
3. Did you format the values to match exactly (even the number of digits after the decimal needs to be exact)
4. Are you using the correct key (private active)

If those things don't fix it let me know.

Yes.. That was fee and 6 digits after the decimal.
Thanks for help!

4 years ago (edited)

Hi @timcliff,

gotta hijack this comment-chain, as I am having the same issue!

Do you have the funds in your wallet to cover the fee

I have enough vests powered up, what else do i need for a fee? I didn't read anything about fees in your OP?

amounts, format of values and key must be correct, this is the only thing I can think of!

edit: nevermind, I was an idiot and I figured it out myself... sorry to steal your time ;)

Hello @timcliff
I was trying to undelegate, and I see the undelegating (delegated 0 vests) in the blockchain, but in my wallet still shows the amount delegated before the undelegating. Does it take 7 days to take delegations back? Or what was the meaning of the seven days? As far as I understand your posting, it was meant needing 7 days to delegate from new to this delegatee account.

Yes, it takes 7 days for the SP to return to your account. The reason is to prevent double voting.

4 years ago (edited)

If you are using cli_wallet JSON-RPC then fetch "info" and calculate VESTS like this:

``````total_vesting_shares / total_vesting_fund_steem * desired_steem_power
``````

Similar with steemd RPC, call get_state with an empty string as parameter:

``>>> get_state ""``

Nice tip :)

Thank you for sharing about this, I believe many steemians need this... to delegate their SP... Nice! :)

Very nice tutorial, Ive been wondering how that is done. Well now I know. Thanks for the help!

Thanks for this post!!! 😂

Are any whales interested in renting out their delegated Steem Power? I'm interested in renting 100,000 SP

Thanks @timcliff Yeah I know. We have been negotiating in Steemit.chat. Negotiations are going good but I want to open the market up and see if there are any other "Steem Power Lords" out there looking for rental income!

Heck! If I had that much I would rent it out as well. Share the wealth and make some SBD.

Get that passive SBD! I'm actually doing a post asking if anyone else is willing to rent theirs out.

Very informative!

If we can get STEEM in the news, we can get it over \$5 each.

Everyone should use this Media email list (3000+ contacts)
https://steemit.com/steem/@marsresident/how-you-can-help-get-steem-in-the-news-simply-using-your-email

And send them this:
http://www.reuters.com/article/us-currency-steem-idUSKCN0ZS2MF

Sorry, but this is off topic and unrelated to this post. It seems like link spam.

Wonderfuly explained in simple and non technical terms. Thank you so much.

Thanks a lot, I have just succeeded to delegate 500 SP to our tree planter voting bot. @treeplanter

Cool :)

Awesome stuff. If only I had the sp for delegation :p
I barely have around 700 lol. And I wanna be a curator. Got a long way to go lol

When i try to transfer steem power following error occur:

Can you send a screenshot of what the page looks like before you submit it and get the error?

after these two windows , error message display that i send you yesterday.

You don't have enough Steem Power to delegate.
https://steemit.com/@sunnia/transfers

How much steem power need to transfer????

In your screen shot you are trying to delegate 5.060 SP, so you will need at least that much. Until you have more than 15.0 though, it is not a good idea to delegate because you need SP to have enough bandwidth to use the platform.

Thanks to guide me,

Sir can you guid me about curation reward and how it be earn?

Please read the FAQ. There are also some posts listed in the "Welcome" page.

4 years ago (edited)

Interesting information, i upvote and resteem.

that's great....but who will delegate SP to me :(

Thank you for this! I'm new to Steemit and I'm fixing to to put some big money on here haha.
Great community

Cool, glad you are here :)

damnn..didnt know you could transfer sp directly

Well, you are not exactly transferring it. You are letting them use it. It is still your SP that you can take back at any time (see note in post about the 7 day wait).

Thanks cliff for sharing this bit of information, It is quite useful. We appreciate your efforts.

Hi @timcliff, thank you for great idea, i have a question. It can effect my voting power? If i delegate it? Thank you.

If you delegate SP to someone, it becomes their voting power until you take it back.

thank you because i have too small voting power. Thank you again.

A really good read thank you for sharing

Dang!......i need some delegated vest @timcliff ......smiling; it is a wish!

meep

MEEEEEEEEP

Will it be needed after hardfork changes?

There will still be a use for delegating even after the HF.

Thanks for sharing

sounds great? so anyone delegating me? :D

Thank you @timcliff for this awesome article!

Thanks for the post @timcliff it is very useful.

Legit!

This is really cool. So @timcliff can you delegate some so to me?hehehe

I love the creative community here at Steemit. It is the way life is meant to be with all helping each other. A new feature app almost every day.
Thanks for the post timcliff!
All the Best Dev

excellent tips, I really appreciate it! followed!

Love the post. Thank you so much. Followed and upvoted. Have a good one :)

Awesome tool @timcliff - thanks for sharing this! This is especially useful for explaining the concept of delegating SP to newbies and appreciating the many helpful Steemit APIs that are being developed by the community.

I am in fact working on my own Steemit tool - Steemit Live - with several Steemians at the moment. Just created a Discord server to discuss and plan our project and have started to spread the word in my latest posts. Thanks for inspiring us @timcliff!

got me with that one - haha .. great info and i followed and upvoted to keep it moving up too

Oh yes, bookmarked this for future use ;). Thanks, I was curious about it and you just solved my problems.

Can you wave your magic wand over my sad sally of a blog page. I think I am invisible :)

I'll see what I can do ;)

Ha LoL I have never met a real magician :)

Invisible == ghost girl, that's punny!

And SteemINC couoldnt do it since a year.

I believe they helped to develop a lot of the back-end stuff that Busy.org used to put together the tool. It is a partnership. We are all on the same team ;)

This is very insightful! I'm new to Steemit and have watched a few tutorials which mentioned steemd.com. Would you be able to point me in the direction of any useful tutorials or posts explaining all the ins and outs of that tool? Thanks!

Steemd basically just shows the raw data that is posted to the blockchain. The best way to learn it would be to switch back and forth between Steemit and steemd to see how what shows up on the website gets reflected in the blockchain.

This seems like it will come in handy, now I just need to figure out a good way to bookmark stuff on steemit ^_^

For now, just use the bookmarks/favorites in your browser.

what is this really possible here. Thats great info thanks.

An honest question: How does this app/platform differentiate itself from Steem Trail or similar apps? Am I mistaken in that they serve the same purpose, but through different means?

They are different. With voting trails, you are progamatically setting your votes based on the votes of other users. You still keep your SP and cast the votes with your account. With delegation, you are actually loaning your SP to someone else. They get to use it as if it were their own. It is not the same as actually giving it to them because you can always undelegate it and take it back.

I see. This is very helpful! Thanks for the clarification.

Thanks resteem this too because interesting for more to know

that is really great ,Thank you for these

Thanks for info.

Noted

Good read...upvoted and following for more of such

Is there any way to see who you've delegated to or from? We are trying to find a way to verify delegation from specific accounts.

Sorry, I actually do not know a way to do this myself. If you find one, please let me know :)

Thanks for the quick response. Yeah, that information is a tough nut to crack. I will definitely pass it on if we find a solution.

Is there a tool where someone can determine who delegated SP to their account?

I'm not aware of one.

You should be explaine the benefit of delegation
Honesty I don't understand how to work delegation if you don't mind please explain exactly .

Thank You

Delegation allows users with SP to loan their SP to another user.

Great post and very informative... TY upvoted and followed.

I don't know if I can trust this system but I want to give it a try just for sake of @timcliff because he is an honest man, I guess!

Well, I don't run SteemConnect - but I do trust it myself and use it on a regular basis.

@timcliff Can you guide me, I don't have much SP to delegate as you can see my profile reputation, I am relatively new, is there any way to promote my content?

If you don’t have much SP, it is probably not a good idea to delegate it away.

In terms of building an audience, that is a tough challenge that all content producers struggle with. I don’t have an easy answer. Making personal connections with other users is the best recommendation that I have. There is a good group of people in the minnow support group on discord. Here is a link to that: https://discord.gg/HYj4yvw

Thank you for the guidance and instructions.

Think I'll pass on using this given the warning stuff and all. So any pointers on where to find this "complicated API tool" ?

There are some users in the