Why I Power Up For The Fourth Time: Understanding The Value of Steem Power
For the past week, I have powered up three times. I had written two posts on the subject matter; I Powered Up Twice During The Last Two Days and Powering Up For The Third Time.
My present Steem Power is in the region of 9,500 and I wanted to reach the 10,000 Steem Power milestone. Thus I have been regularly monitoring the price of Steem. So today, when I saw that the price of Steem has dropped to USD0.38, I decided to buy more Steem. I strongly believe that Steem is undervalued and this is a good long-term investment.
As mentioned above, my Steem Power is about 500 short of 10,000.
After buying extra Steem, I decided to power up 1,000 Steem.
I am so happy that I have achieved and even exceed my 10,000 Steem Power milestone.
So why do I keep powering up? Let me share my reasons with you all.
Firstly, it is a good long-term investment. Since I am already spending a lot of time here, I feel that I should also invest my money as well. Cryptocurrency will be gaining more acceptance in the future and institutions will eventually hold these as one of their assets. With the value of Steem so low now, in the long run, the price will increase drastically.
With more Steem Power comes more influence and authority. The value of my vote will increase in value. With more Steem Power, I will be able to support some of the efforts in the community.
In the distribution of the daily reward pool, those with higher Steem Power will receive a higher reward.
Those with higher Steem Power will be more likely to be noticed. I hope that this will be translated into more votes for my post.
Steem power is actually an asset on this platform. I can lease my Steem Power for a lucrative return. In this way, I will earn a passive return. You can compare the returns offered by @tipu, @bidvote and @nutbox.mine.
The price of Steem is a function of demand and supply. By buying Steem at an exchange, I am creating demand for Steem. If more people buy Steem, the price of Steem will go up.
After reading this post I hope that more Steemians will understand the value of Steem and Steem Power. So will you be powering up too?
Follow me and stay positive.
Do check out my previous posts.
Spreading positivity one post at a time.
Charles
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