I use my ASIC to buy STEEM every minute!
Using a pool I am able to convert all of my bitcoin shares into STEEM every minute. This adds buy pressure to STEEM and raises it's value. There are a few pools that allow you to automatically trade your submitted shares into your desired coin, but I use Eobot.
It is a cloud mining service, mining pool and faucet rolled up into one. The ASIC I use was provided by eobot when they retired their antminer S5 units. I have free power so every share is profitable for me. The amount of STEEM mined is dependant upon the price of STEEM vs bitcoin, as all the shares are paid first in bitcoin then converted into STEEM.
You don't have to use the EOBOT pool, there are others, but if you have an unused SHA256, X11 or Scrypt miner, maybe turning them towards one of these pools would help raise the price of STEEM a little. If you pay for your own power, and take a loss, the future value of STEEM should make up for it eventually.
(Source)
My little miner only provides about 3-5 STEEM a day, and some of that is moved to my bitshares to be held for a glorious STEEM high. The more people that do something like this, the greater effect it will have.
bada$$!
That's pretty cool. I was reading your past posts awhile ago before we met on here, where you discussed similar things. 3-5 Steem a day man? That's super. Good work. UV for you
With the impending hardfork the situation has changed, Steem is going to be more difficult to attain.
Those were how to's, this is an explanation as to why one may wish to do so.
On another note have you made any progress towards luring your friend Peg onto steemit?
It's pretty far down the list of to-do's for her, I have been trying here and there for about 2 mths to get her onto here.