Why I think PALpower is more enjoyable to have than Steempower
Earlier, my 1600 PALpower earned me 3.56 PAL tokens as a reward for my curation work. I was astounded by it since I never really expected that this small amount of PALpower has rewarded me this much tokens. On top of that, I acquired my PAL through a claimdrop, it's free.
Take note, all active Steem users are eligible for a PAL claimdrop in the Steem-Engine website. Please make sure that you claim yours before it's too late.
My observation of the events made me wonder why I feel gravitated towards PAL compared to Steem. Don't get me wrong, this post is not a hit against steem. In fact, I view both Steem & PAL as an important aspect of my experience. Both are equally important.
It all depends on how you view and utilize it.
At this point, I personally think that PALpower is more "lucrative" than Steempower. Aside from that, it is giving me "better experience" as well. But, let me reiterate that both PP & SP are very important.
Let me elaborate.
Acquisition
- Steem: earn through content creation or buy from exchanges
- PAL: free claim for active Steem users, earn through content creation, or buy from steem-engine
Vote value
- Steem: 1600sp = $0.04
- PAL: 1600pp = $0.10 (not accurate)
Comparing the same level of power, my PAL $vote is twice as much as my Steem $vote value.
Take note, the price of PAL (currently) is about 0.46 Steem, that means for every steem will be worth 2.17pal. In essence, my 1600sp could be:
3478 PAL power = $0.217 (it's about 4 times more vote value than the equivalent 1600 SP)
The obvious reason is the fact that there are no PAL whales & PAL bid bots that has a tremendous amount of power.
A PAL user's power is not yet diluted by any huge PAL power holders since everyone started fair for the entire PAL network.
The only PAL users that has a substantial amount of PALpower are the MSP curators who are actively curating quality content selflessly.
The funny aspect of the whole Palnet thing are the early dumpers of PAL tokens. They are the ones that sold their PAL tokens at a very low price. I heard that it even reached a low price of 0.01 steem/pal.
I bet that they feel disappointed by now just by looking at the price of 0.46 steem/pal.
I mentioned in my post a few weeks ago, for those who stake, good job!
And for those who bought at a low price, awesome! You should be celebrating by now, PAL is likely to stay and may even escalate much faster than Steem.
An important note, our activities in PALnet is dependent to the Steem blockchain. And similar to Steemit.com, we need enough Resource Credit (RC) to post, upvote, resteem, & transact in PALnet. If you decide to convert your SP to PP, make sure that you leave enough SP to perform activities in PALnet.
Disclaimer. This is not a financial advise. Convert your steem/SP to Pal/PP as your personal decision & be aware of the potential risks. Please do your own research before you decide to do so.
To conclude
I couldn't have my 1600 PALpower for free without my Steempower so I'm glad for that. I'm also glad that PALnet is built as a second layer solution to Steem blockchain and not as a competitor of Steemit.com. It's not a good feeling to choose between the "PAL chain vs Steem chain".
The best part of this experience is that I'm able to earn both PAL & Steem with the same effort. And I have gained new interest in looking at other contents based on PALnet or the ones that utilize #palnet as one of the tags.
Cheers!
I appreciate that you consider us 'MSP Curators'. It should be noted that those of us that received/are receiving the large portion of PAL stake at the start are actually the PAL Moderators and leadership team. Some of us are also MSP Curation Team, but like me, some are not.
Still, we do like to get out and curate. Our best results will come from those of us that received a large stake early on to use it as spread out and still selectively as possible.
I just found this post by trolling down the New tab, so here is an example of being found naturally.
Thanks for the correction, I just realize the distinction just now.
I just want to point out @emergehealthier's comment that Palnet came it at a right timing, before HF21's implementation. Although not exactly the same, I do think that PAL's distribution is a good testament that 50/50 isn't necessarily wrong. It's just that the Steem power went to the wrong hands and in effect the rewards are going to the wrong recipient.
And so it's not a surprise that some Steem users are trading their steem to pal. And also, #palnet is getting really popular as well.
Kudos!
Ah, I feel so stupid! Once I got my PAL claimed I sold off a chunk. I didn't know really what they were and how they worked. The rest I staked. And I'm happy I did.
I know there is a cap on the number of tokens one can claim in order to divide them in a more fair way. Is there also a mechanism to keep it that way in the long run?
(Still learning here :p)
As far as I know, the cap was implemented for the Claimdrop only. Other than that, anyone can purchase as much as they can and do whatever they wanted to.
It's never too late, there's still chance to earn by simply posting at Palnet or using #palnet tag on any of your posts.
Thanks, I'm working on it, at least the posting part :)
I'm also enjoying using Palnet and earning Pal. I think the timing was fabulous, considering all the talk about the steem possibly go to a 50/50 split. Palnet has shown it can work and be profitable.
Agree to that 100%. Steem users are fearful of the 50/50, they should look at it as opportunity to curate for others and earn not only steem but also new friends :)
I agree about how choosing one or the other since it seems PALNet is against steem I’d like to profit from both platforms but in reality I love steem so it’s been a difficult time trying to go thru PALNet
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Whether you invest in PAL or Steem, it will still end up to the same blockchain and same ecosystem. The funds generated through PAL will also be used to projects that will benefit the steem blockchain/ecosystem. I just hope that they won't exit and make their own blockchain, I believe they won't do that. I have belief to the MSP/PAL community.
I really admire the part where it is 50/50. Half goes to author and half goes to the curators.
Posted using Partiko Android
Others frown at it, but not for me, I see it as an opportunity to discover contents and earn along the way. At this stage of PAL, it's the time of accumulation & staking :)
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