Love it or Hate it? Testing Leasing Delegation to Build Account
Some are going to hate this test while others will love it, but all avenues need to be explored in my opinion. This account will lease steempower to then sell votes and test the possibility of building up multiple accounts for @minnowbuilder to use for it's project. If the accounts which are building up to start helping grow minnows can grow some owned SP by using this approach we will be able to reach a lot more new steemians and help build them into minnows.
As I'm not independently wealthy I need to find ways to pay for my efforts here on steemit. Not really looking to make money on steemit short term and those who follow me @thedarkhorse know that I give and give to others on the platform. But I love to find ways to make my efforts not effect my household budget and this was suggested to me as a way.
So the goal will be to test with a least of 1200sp for 12 weeks and use the steem earned from selling votes to pay for leasing more SP and see how much the account can grow. Ideally in 12 weeks the account will be at least 2400sp as the first 1200 will expire. This would show this approach is at least break even plus curation rewards for a very minor profit. Anything below this amount will show this idea doesn't work to cover the lease and leasing steempower just isn't worth it currently.
Yes short term the leases will be used to sell votes, but long term all built up account value will be used to help give daily upvotes to new steemians to build them into Minnows and give them a vested interest in steemit.com. By helping newer steemians who produce quality content grow we can reduce the turnover rate of steemit and build a real middle class of steemians who are going to help the next incoming redfish grow. So long term I feel this project can really benefit steemit.com and the value of steem.
Test will start tomorrow, Monday 08/27. This test will require at least a 60 Steem Loan from @thedarkhorse and will be repaid in full once the test is over with a weekly repayment schedule that makes sense to not kill this accounts ability to lease more SP. Might take some time to repay the loan, but the repayment schedule will be posted as will the weekly results of the test.
If this proves viable it will be used on multiple accounts to get them growing asap and increase the value that @pifc and @minnowbuilder can give to the Pay If Forward Community.
same rate as expected but pay weekly. this way if the test isnt good u can cancel sooner. 1200sp sent.
Thank you BJ! This will work out great.
now im wondering if i should do that 🤔
Well I would suggest waiting until after we test this out and see how it goes. It might be a complete money looser.
kk 🤗
Looks good. Maybe members who have spare sp would give it to you at a discounted rate
Now that would be amazing for sure, but it actually would mess up the test on this one.
But if there is anyone that wants to do a discounted lease for @minnowbuilder or @pifc that would be great.
I have been renting 1200 Steem and for me, it works.
But doubling that SP in 12 Weeks!? My return is nowhere near that.
After 12 weeks, I usually have gained 60 or 80 Steem more.
Goal is that I will earn enough each week to lease 100sp more. This will make it so my lease is up to 2400sp for maybe a day and then drop back to the 1200 with 100sp falling off each week and leasing a new 100sp.
Figure if I can break even on the leasing and gain the curation SP even it would be worth it to give new accounts a jump start for minnowbuilder without relying on others to get it up and running.
Only now I've realised this was another account and not the one I was upvoting automatically. Eh, dumb me.
Not hating, but just so you know, I haven't been able to make the math on this work.
The math I ran looks like it will be close, but it's based on compounding the money as you go and doesn't factor in paying back the original loan. But for 12 weeks it's worth giving a try IMO and see how it plays out. Might completely put to bed the idea of leasing being profitable at current rates or we might all learn something.
Can you explain the process of how you lease/sell votes and so on?
It would be nice to know for others trying to replicate this technique.
Thanks!!
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Once the process proves viable or not it will be explained. Don't want to explain it and then have others copy it before I can say it will worth your time or not.
Makes sense! Will look forward to your results.
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Thank you so much for sharing the process with us. I will be following along with great interest. If I personally could break even on leasing I would do it. I feel there would be potential there for a gain in building a network as well as being able to add more value to my efforts to support others.
If nothing else we can all learn something in the end.
Honestly I feel very strongly that you come out ahead when you are using leased SP to build your account with normal engagement if you can get above 500sp. The slider bar really does help you a LOT as does having higher total vote value when you want to stand out.
It's something I did early in my steemit days and still feel it's worth doing. I personally lease over 1000sp on top of my owned 1000sp to make sure my vote is felt. There just aren't that many people on steemit who can give a 10c vote so being one of them helps me stand out a little over the masses who are giving 0-3c votes. That isn't me being elitist, just making a point that people do without question notice the size of your vote.
It's why I'd love to get pifc up to a $1.00 vote at full power. Then when leaving 30% votes it would really make a large difference to the accounts we are helping. Sadly right now that takes 18,000sp and just can't afford that type of a lease without some serious support from a whale or two on a regular basis.
So getting creative with new ideas like this will hopefully bridge the gap.
I like the idea, because actually it is eventually will support minnow and help this platform to better @minnowbuilder