Minnows, Dolphins, and Whales - The Importance of Steem Power (Repost for New Steemit Members)

in #investments8 years ago (edited)

 As our little community grows, it has almost doubled in the past week alone! Demand for the Steemit platform has seemed to grow exponentially, and confusion seem to be the norm- we are losing many new Steemers who join up and suddenly seem overwhelmed by what everything is. It's imperative that some of us who have been around just a bit longer can help in any way we can to help new arrivals stay solidly.

With that said, I share with you a re-post of my original article, in the hopes that many NEW readers find this. Cheers, and all the best to you all! -Crypt0

P.S. - Don't forget to use the tags #truecrypto and #craigrant in your posts, if you create quality content!


Everyone is Talking About Whales, Dolphins and Minnows

As the Steemit community grows, and users continue to come aboard in the hopes of earning money for liking and uploading content, one thing is certain: not everyone is getting the same piece of the pie.Some users are able to like content and AUTOMATICALLY pay that user $15 for said content. It's like a big tip, based on a heavily weighted vote.This vote's weight, as you are most likely aware, is based on how much "Steam Power" the voter has. They can heftily  move and shift opinions about content that deserves recognition, much like a "whale" makes huge waves that affect everything in the sea around it.(P.S. Minnows, Dolphins, and Whales exist in every financial market. If whales make a big sell order, they can crash entire markets with small caps- and if they buy, everyone makes money)

Minnows - Soldiers/Peons/Pipsqueaks/Regular/Headshot

This is the average user on Steemit. Perhaps they've come aboard just recently, hearing about their free money just for signing up. Perhaps they've already put $10, $20, or maybe even $100-$500 into their Steem Power, to try and gain some weight on their votes.Minnows have very little ability to influence the direction that votes take, as their votes are not worth very much. It would take many multiples, maybe even in the 100's, to make them worth the same in votes as one whale. Minnows cannot up vote content and immediately give it a "tip". At best, they might be able to get you $.01, as they slowly climb through the early Steam Power numbers.

Dolphins - Generals/B-List/Cool-Kids-On-The-block/Heroic/Unstoppable

are people who have invested a decent amount into the Steemit platform. They have generally invested a few thousand into their Steem Power, and are able to give a couple of cents to content with one single vote. As they vote, they begin to entice others to vote, capturing the attention of recent post's voter's attention a tad. They might give a blog post 10 cents just for their vote. As Steem Power has grown in their wallets, through investment (or enough money earned off of posting and up-voting content), they now have Steem Power that truly grows by itself just by sitting there. They get slowly more and more powerful and influential. Maybe one day they'll even join the ranks of...-

Whales - Commanders-in-Chief/Kings/Godzillas/Legendary/Godlike

These are the big kahunas. When they like something, YOU'LL know. Hell, you'll probably like their content too, if you don't want to miss out on earning a few bucks by not liking them early on. When they like something, you'll see it under "Recommended, Hot, Trending", and pretty much heading every other sexy category, with a good number of monetarily valued digits under them. These are the guys with 50,000 Steam Power. 100,000 Steam Power. 1,000,000 Steam Power. When they move, everyone looks in awe, as they shake the markets with each step. 

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A very useful post. Should be essential reading for everyone who starts out here.

One point about STEEM power. Those joining the network later are at even more of a disadvantage as the price of STEEM rises higher and higher. That's because it costs them many times more to increase their STEEM power due to the higher price of STEEM and hence SP. It is only going to get worse as time goes on.

I've covered some of these points in my recent post too. I suppose all we can do is try to inform each other and try to help out where we can.

Yep- however I don't ever think that the price of Steem will be super exorbitant- it's meant to stay low to decrease barriers of entry through massive inflation. However, the price of VESTS, or STEEM POWER, will likely never catch up to you- it'll take AT LEAST double what you spent to get where you are, as your Steem Power grows by 90% a year to account for that inflation.

One of the best things I've learned in the past couple of days is to watch for posts from the whales. If you can get in early and make a comment that actually makes a good point, and with the intention of really contributing to the conversation instead of just "good post! very informative!" you could get a like from not only that whale, but other big dolphins or whales who are eyeing that post as well. In the last 2 days alone I've had 2 replies which are totalling at about $700 combined. Not too shabby if you ask me. :)

Oh, and for the love of all that is potentially holy, don't include links to blogs you've already posted in an attempt to send traffic there. Just concentrate on the reply, otherwise it feels like you've just been handed a business card.

Amen! This is definitely a good tip, and one you may want to continue employing- I've thought of doing the same, but you certainly have to stay wary all day :) Great job on the 700$- for two posts, that's crazy!

Yeah, so far so good. Granted, I have to admit that I spend most of my time in the "Active" pages. Not only are you seeing content that just got posted, but also stuff that's becoming popular. You're seeing everything as it happens, rather than just the stuff that makes all the money (trending), stuff that's already starting to get popular (popular), or only new stuff (new).
The active pages show you all of that combined so you can see it all in real time right in front of you.
People who spend all their time in Trending are drooling over the successes of other members and fighting like a pigeon against a 747 to make any money. If it's trending, you're too late.

Great tip. I appreciate your insight toward the active pages- I hadn't realized the importance and difference of it until I read your comment. Keep rockin and sharing your tips! Cheers, brother.

Great post! This make me dream of becoming a whale someday!

it is best to first win very Steem Power.

Steem Power is the truth. nods

Aquí está traducido este artículo al español.

Gracias por la assistencia con compartiendo mi articulo con gente que solo hablan español- lo hablo, pero no me gusta escribirlo :) Dale.

No hay de que, thanks for you, this post helped me a lot.

tambien esta en español? mejor aun. gracias.

Se, español es mi primer lengua :) Dominicano aqui. Cuidate, y de nada.

This is a great post for someone who just joined Steem. I have a question: is Steempower added to votes solely based on the amount of money you put in? ie could I invest a thousand dollars and become a whale immediately?

Thanks for the repost! I believe it is not a bad thing to do for such a great article which in my opinion, deserved much more.

Great posts. I used the info I have learned for you so far. got your tags in there too. hope you check it out
https://steemit.com/steemit/@mguy808/how-i-m-using-tinder-to-promote-steemit

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