Million Dollar Challenge #2 : How to use the XLS-file
This is a QA in relation to a question by one of the followers. Please ask in the comment section if you require more information. The #milliondollarchallenge series shall be completed upon reaching the value of 1 million dollars.
Million Dollar Challenge No. 1:
https://steemit.com/teamaustralia/@lucky.digger/million-dollar-challenge-1-xls-file
Million Dollar Challenge No. 0:
https://steemit.com/steemit/@lucky.digger/would-you-like-to-become-a-millionair-within-7-years-with-only-usd100
Please follow, upvote, comment and resteem if you feel inclined to do so.
Thank you again, your friend @lucky.digger
Hi lucky.digger,
I am going to start it as soon, meanwhile even I am trying to analyze the rewards structure for better understanding. As I started late last month you have given a better idea on upvotes and curation which made me research more on this. I have also gone through couple of videos regarding curation/upvotes.
Also got to know about Voting power (VP). I would like to ask a question;
Is it good to stick to 11 votes everyday or it's better to stick with your voting power percentage? Like say only vote until your VP% falls to 75% assuming we always wait until VP% reaches 100 before voting.
What's your thought on that?
Though whenever I get time I would post quality content but going to make habit of upvoting good quality content as you said. I will upvote this once I get recharged.
Thanks. Cheers!!!
Hello @themystic. According to my research the absolute best regime is to apply 1 vote every 2h only. That will increase your internal rate of return considerably. If you are doing some posting, commenting and upvoting, then your internal rate of return should be higher than 0,4% per day.
If you are doing no posts and just writing a useless comment somewhere (for example "meep") and you upvote your own comment, you will be making 0,2% interest per day. In investment terms that is an outspoken high value. That alone gives you a factor of 2,07 per year, or better, if you have 100 steem today, and only upvote yourself daily (and receive no further rewards), you will have 207 steem after 1 year. OK?
The best quantity of votes is between 10 and 12 a day, which to my mind is 11. Now that is what my tests show. I am currently also testing other things, so now and then my voting power will be out of whack...
It is best to vote exactly 1 time per 2h continously, but I can't do that, or would need a bot to help, I am therefore testing a bit with streemian, but I don't like it, and after a few tests I will probably stop with that. Therefore, just vote 11 times per day and everything will fall in line, atleast that's how I see it. Take this medicine with precaution and at your own responsibility. Don't vote to less than 80%. If you do vote to 75% then check how long it takes to recharge? It should be about 28h.
If you post and comment and vote with quality and discipline, you will by far beat the 0,4% interest rate. This is what I see. Then, you will hit 1 million dollars long before the deadline which is in 6 1/2 years. Taking into account that the price of steem will probably 20-fold in the coming 2-3 years, I reckon either steemit will collapse, change many rules, OR many many people could turn into millionairs.
Ok
Great. Thanks for responding by providing the details. That makes sense to split votes across the whole day. I have created an excel where in you can key in initial amount & interest rate and it calculates the compounding interest and the total amount for 7 years (2555 days approx). My charged upvote seems to be 7c for now it seems.
Cheers!!!
How many USD and Steem do you see after 7 years? What daily interest rate are you calculating with?
Assuming 100$ is the account balance in SP;
Interest 0.4/day returns 1003249.98$ in 2309days i.e. 6.32years
Interest 0.8/day returns 1000864.11$ in 1157days i.e. 3.16years
If any future hardfork raises the current interest to 4times then
Interest 1.6/day (0.4*4) returns 1012148.691$ in 582days i.e. 1.59years
Here is the link to the file which could come handy;
https://ufile.io/el4zi
(above file URL will expire in 30 days)
Let me know if you have any suggestions. Thanks.
Will check it out. Basically confirms what I have been saying all along. Just stay with it, sooner or later either steemit will collapse, or you have caboodle on your account.
great post lucky.digger! keep it up! and thanks again for following!
gday mate,i just saw this post,very interesting indeed this follow up.i didnt have time to check the xls file yet.
we are moving stuff into the new house..it's still very busy outside and around the house.
have a nice day
Urs
Hi Urs, hope the move is getting on well without any injuries. Even a small hernia can turn out to be a lot of trouble for a family. The xls file is in constant use by myself, there are some updates I will be bringing, and videos, some people don't quite understand the concept. Don't worry, no rush. You can find all the posts here: #milliondollarchallenge here and also on steemit.chat in future. I really want to see if we can nail this home. Another 5 years ahead of most of us. Either that, or steemit.com will change rules...
gday lucky.digger,its all good.i didnt move heavy stuff,my wife arranged some relatives of her,they did all the moving...fridge and washing machine and some furniture.beds,cabinets came all new...still a lot of boxes and stuff to sort out.....
its a interesting experiment,many still unknown factors involved but it would be great to nail it.
im in here for the long term(in general with cryptos)not for a quick return.
its an investment...and an investment is a marathon,not a sprint....
Have tried to add you to the "miliiondollarchallenge" channel in steemit.chat, but I guess you are not there yet. There is no text in there yet, but there will be text coming. Just a collection of people who want to join the "experiment" and share their observations.
no mate i havent,i did not watch any movies here or elsewhere and not in any chat...the internet is a bit better here in the new house than at the parents in law place but still not very quick....if some posts have big resolution pics i dont watch them either...takes ages to load them.....
in a couple of months we gonna be in switzerland with decent internet.....
Are you in Switzerland often? Sprichstde Schwitzerdütsch?
gruezi lucky.digger..ja ich spreche schwitzerduetsch.i have a slightly strong country slang,not like people from Zuerich or Luzern.(im originally not too far away from Luzern but in the country side)
ive been in CH once a year over X-mas the past 11 years.im gonna move back in a couple of months(hopefully by september)with my wife and son.it was a decision we made before we built the house here in thailand.