Let's Talk - "Investing and Power Up" ||entry by @lhorgic
#Image was edited with my inshot app
Am happy to be part of this awesome contest. It good to know that a community like this still believes in power up and it benefit and that's why am happy to add my entry for the contest.
Introduction
Powering as a form of investment should be a culture that must be preached in steem blockchian,the importance of powering up cannot be overemphasized. In fact am made bold to say that it's benefit far outweighs the cost and sacrifice of powering up. When you power up you are investing indirectly.
What is power up
Powerup is an household term in steemit .it's an act of setting aside certain amount of one's reward to build ones steem power. And as you power up,your steempower grows and enlarges and then also give you bigger voting power which also helps you add value back to the blockchain. Below is the screenshot of my first ever power up.
Prior to the time I got to understand what Powerup and investment in steemit is,I was like an average steemians with the short term goal mentality who comes to the platform to post,earn rewards and sell them to enjoy him or herself without thinking of the effect on the blockchain/ecosystem. I never wanted to hear anything about power up because I felt I'm being deprived of my assets. But when I came into full knowledge of what it is,I began to power up and will keep powering up. Presently my SP is about 700. I arrived here in 2 months after doing power up consistently on weekly basis part of my reward earned that week + SP generated through upvotes
Screenshot of different power ups
Benefit of Powering up
I will be mentioning some of the benefit of powering up in under two subheadings.
Benefits to Investors
- Influence
A "steemians" who powers up is already an Investor because he is storing up value for a higher returns. By so doing your portfolio enlarges and your voting power also increases,you are no more that minnow that you were when you came in, building your SP can make you the whale. It has helped me build influence gradually.
- A form of savings
Powering up is a form of saving because you ain't selling your steem like others will do,you're preserving it in the hope to get better value out of what have been stored. Your SP is still yours to use but leaving it as SP will do alot of good to you and to the blockchain. I've been doing this consistently since I found out.
- Curation reward
You don't only earn as an author on steemit,you can also earn as a curator and how do you become a curator with value and influence? It is through investing in power up which give you big voting power you can use to vote quality post and then earn rewards after the post pays out in 7 days. Personally I've been earning weekly curation reward based on the SP (voting power) I have.
Benefit of power up to steem ecosystem.
- A form of Support for newbie (delegation & voting)
Investing in steem power goes a long way in supporting minnows or newbies through delegation,you can delegate only when you have enough steem power that can support them but when you lack it,you can't support them neither will you be able to vote their post to encourage them to stay on the blockchain. It has been discovered that lack of vote easily turn off newbies.so help the steem blockchain by investing in it via "power up"
- Support For Communities communities.
Communities on steem blockchain needs support to promote it activities. That's why they are always on the look out for those who would delegate to them. It can only be possible to delegate when you have at least 50Sp to spare if you want to support a community.You don't only support by posting,you support by delegating
- Stabilizing the value of steem.
This is one key reason why you must invest in the steemit by powering up because it help stabilized the value of steem. It prevent it from falling unnecessary on the exchange market and also make sure that investors get the best form the steem ecosystem. Lack of investors in this aspect may indirectly may the value of steem suffer.
Why people don't power up
To me,people don't power up based on the following reasons I itemize below.
- lack of knowledge
People lack the knowledge about it and that is the reason why I love this contest which aims at educating us about the importance of power up and investing in steemit
- lacked of target or clear goal on steemit
Many came to steemit with the "only" to earn and to do nothing else,they don't care about how the system work and so their goals on steemit is a short term goal just to claim reward and sell it off. Only someone who is knowledgeable will know that powering up is a long term investment goal that gives very good returns.
- Momentary gain and benefit.
Another reason is that people are concerned about just selling their claimed reward. So they keep posting to get reward for sales and they don't consider how the steem blockchain survives. My advice for such people is to see the other side of that they are doing and assumed that if they keep getting the steems out and not in investing some back how will the system survive? We need to thinks about it.
Recommendation
I encourage every steemians in this blockchain to be investors and not just poster. Invest and enjoy it's unlimited benefits.By investing,you're supporting yourself, newbies (minnows),communities and the ecosystem. You can also take advantage of contest like #spudforsteem organized every month by @kiwiscanfly to build your SP.
Conclusion.
We can deduce from this whole write up that powering up and investing in steem is a very lucrative exercise that every steemians must embrace. It's a win-win exercise for both the investors and the steem ecosystem.
Achievement 1 post
https://steemit.com/hive-172186/@lhorgic/achievement-1-introductory-post-lhorgic-04-03-2021
Cc:
@harferri
@heriadi
@irawandedy
@sofian88
welovepowerups letstalk nigeria contest
Thank you for participating in this contest, have a nice day