Investing In Steem Power - The Best Way To Help Steem Land On The MoonsteemCreated with Sketch.

in promo-steem •  5 months ago

Every morning when I head to work the sun is shining so bright on a certain street that you literally can’t see where you are going. You can’t see if a car is going to pull in front of you and you can’t see anything until you get to the end of the street. So when this happens I pull off to the side of the road and do nothing until the sun gets out of the way.

Psyche. How foolish does that sound? It sounds ridiculous. I push through and I do the best with what I can see, I squint, I use the shade and a drive a little slower but I keep pushing forward. If we are all honest, we all do something similar when it comes to our jobs. When it comes to our jobs we find a way to make it there. The same should be true when we are investing or buying crypto-assets.

This blog wont be as polished and refined as my others but these are thoughts I wanted to get out there because maybe you all can get some value from it. Its my entry to this contest though: https://steemit.com/contest/@steemaustralia/150steempromotingsteemeveryoneiswelcome-45agjiidv9

One of the number one questions I get from newby minnows is whether they should buy and hodl steem and SBD before they start building up their Steem Power. The quick and dirty answer is start building steem power now and buy the steem and SBD later. Stop chasing zero and start chasing millions.

steem power.jpg

The rich are not steem power free

People invest because they want to be rich. They want to have more than enough.

If your goal is to be like the rich not like the people who aren’t rich but who think they have all the answers on being rich then you need to invest in steem power now. You need to put all you time, energy, effort and capital behind your efforts to get massively wealthy. This means you have to invest with purpose and aggressively chase wealth not just passively throw steem money into your steem wallet in hopes that there is enough there when you get ready to die.

The important part here though is that if you want to get rich but you think rich equals steem power free then you are foolish. The very reason they call it net worth (estimated account value) is because there is steem power. The net factors it in the SP. They don’t measure actual worth they measure net worth because the massively wealthy don’t get there using their own money. They want you to use your own money but they specialize in OPM and that is what allows their wealth to scale. If they didn’t wait until they were steem power free to invest why should you?

Skills

In life your income and net worth is an indication of your value to society. Everyone asks me “how can I learn how to promote posts like you”. Answer: Put in ten years worth of work and mistakes, that is how. I have been investing for ages and I am just now seeing the light and making substantial profits that have allowed me to do things I wouldn’t have been able to do through saving and working hard. There have been days that I earn more in a day than I earn all month working a job, but I didn’t take a course and get it. I didn’t get some tips and get it. I started investing and feeling out the market. I learned by doing.

If you wait until all the stars align all you will do is wait. Tomorrow never comes. Many people put off investing in steem power because they don’t want to lose money. Well if you are spending money on vacations and Jordans you are already losing money. Why not lose while you learn instead of just losing getting likes on the gram?

The skills you gain by investing, losing, learning and sharpening your sword come with time and the longer you wait chasing zero on a statement the further back you push back your learning and as a result your wealth. The reason you should invest NOW is so you can become the person you need to be sooner because you started sooner instead of putting it off. The skills alone are worth the ROI or the steemit savings interest.

Investing in steem power is what allows you to acquire Steem & SBD

This is my favorite one. I love it because I always use the example of whether you would build up your SP before getting acquiring Steem & SBD. No, dummy, the Steem allows you to build your SP. It would be wise to put your steem money out there to create income that allows you to build your SP as opposed to waiting years to curating blogs waiting for your SP to build up, attached to some silly random upvotes that pays you less than you are worth while demeaning your skills so they can avoid paying what you & your knowledge are worth.

You are holding yourself back. That SP investment income from your wallet will far surpass anything an upvote can pay you but what is more important is that it is limitless, it never stops and the curating skills will allow you to make even more the following year. There is no nobility in early power down.

Instead of slaving away to build your SP, ignore the 50% 50% income distribution (keep it current) and increase your SP income and investments massively by powering up your blogs. Then you use that passive income, capital gains, etc that you gained from your comments and replies from other peoples posts to liquidate your steem and SBD. One flip alone could boost your SP. One SP DELEGATION alone could make your student loan payment for you. That is how we have to learn to think. We create crypto-assets that handle our obligations as opposed to using our labor to handle our obligations.

How many of you picked up a passive 30% return on investment this year? Not many of you. Steemit investors did though.

Most of the critics of the Steemit model of partnering with a lot of people to accomplish a big goal say that “I don’t make that much money when the profit has be be split so many ways”. This is foolish, you have little understanding of the realities of investing and that limited understanding is going to keep you over there by yourself struggling.

When I first started investing on steemit I would invest anything that I could get my hands on, no matter how small. I would throw $100 per paycheck at the market and put it in steem because I thought this was the best move for my limited funds. What I soon learned was that no matter how well you do on a small amount of money you still earn a small amount of money. It takes the same amount of energy to make a prediction on the crypto-market with a high technological rise on the line as it does to make the same prediction with $100 but the payout is drastically different. The data is the same, the company earnings are the same, the difference is how much you had to invest in being right. Being right but not making any money is a waste of intellectual energy.

The only difference between making big money investing and small money investing is the level that you choose to play at. So that experience encouraged me to level up so that being right would yield big money not just snapshots for the gram. That experience also encourages me to do the same.

I get so many people asking how to flip $100 or even how to flip $1000 and hearings questions like that is a turn off. Its a turn off because if you only have that small amount of money you have a spending problem and will just flip that money and go back broke. Don’t play the small game. Stack your paper on steemit and get used to denying yourself so that when you do make it you don’t go MC Hammer on us and blow it all.

The critics that look at the split on steem post payouts have to understand that split is the split based on the level that you invest in terms of your steem power. Meaning that if you come in on a deal and invest $5, your ROI is $1.5 (which is meaningful). The same person could invest $1 and earn $0.3 (which is significant while less meaningful), but it is the same steemit post.

The amount of people you work with doesn’t make a difference. What makes a difference is the level of commitment you are willing to step up to. The sad reality is that most of us put more faith in our steem than our steem power. We go big on our steem, we push through difficulty on our steem, we will sacrifice friends for oursteem but we don’t have that same burn the bridges mentality when it comes to our steem power investments. We spend first and invest the crumbs, then complain that our crumbs yield only crumbs. The amount of partners isn’t killing your ROI, your low level of commitment is.

So if you wan’t to win big you have to commit big. If you want to make your returns mean something you need to commit at the level that will make them mean something. I want to let you in on a secret though. When you commit big Steem Power you don’t need to kill the game on the ROI.

This is why I always push back on the people chasing high ROIs on Steem Bot Tracker. That is a gamblers mentality. That is a lottery ticket mentality. We aren’t playing the lottery and we aren’t gambling. We are betting big on SURE things. When you bet big on a sure things you can take less risk and earn more money. Our goal needs to be to amass large amounts of wealth and then pick up small points on those funds. And this happens when you start powering down your steem power in the next 10 years.

My goal has always been in the accumulation of resources so we can take less risk. ROIs aren’t going to save you, asset accumulation is going to save you and then once you accumulate again don’t spend out of it, live a low cost life even after you accumulate wealth. That is how you keep it and pass it on.

If you are a critic of the model the only thing I can tell you is that 30% is 30%. Its not the split that matters because the ROI is all based on the pro rata basis in which you amount of steem you upvote a steemit post with. The profit is the same if you upvote the post with a group vs upvote it by yourself. If we are really being honest, upvoting with a group provides an extra layer of security that you would’t have if you were investing by yourself and had to pay that $4 upvote on steem bot tracker with your own money.

We need more groups of us investing in steemit not less. We need more funds buying large developments and improving the overall community not a few flips here and there. That comes with team work. This is seen in insurance companies, pension funds, and hedge funds, all of which are team work. Yes you can do things on your own but you can also get a great return working with a team if you can shift your think away from the one man show and the self made, strong independent, think that so many of us have been falsely led to believe is noble. Teamwork is more noble than being strong and independent. Bringing others with you is more noble than making it and stunting on your haters.

The reason I tell people to start investing now not later is because of the education you receive by investing. You wouldn’t tell a kid to wait until he gets out of debt to get an education about how he could get out of debt right? That is how foolish the no debt no this no that be rich already crowd sound. It just doesn’t make sense to tell people to get rich before they do the things that will get them rich. Invest now.

I take my own advice though

I am still learning but I am learning by doing and locking in that knowledge as a result of taking action not reading more books and paying off student loans. I am becoming proficient at curating and have done well but not well enough. I have gained a ton of money but I still have a ton of learning. This learning comes from the activity and the realities of learning when things don’t go your way.

The main point of this blog is that we have found what we like and what we don’t like in the first year of doing this.

If you are invested in a great crypto-asset like steemit that takes a hit its your job to double down. Just make sure its actually a great company. This is why I tell people you have to love the crypto you are in. You have to love it because there are people who hate it or could care less about it who will short it and then benefit from your loss. I think this is a metaphor for life and relationships as well. Like in life, and relationships and the crypto market, its your job to double down on your position not flee. If you double down or even just hold its not long before what looked like a loss is back to break even and if you hold it long enough back in the black returning all that you loss plus interest.

When a good company falls on earnings don’t get scared, you only lose when you sell.

Conclusion

The key takeaway here is that there is only so many hours in your life and only so many hours you can sell for money. You can use that money chasing Steem & SBD or you can use it aggressively chasing freedom (steem power). Once you catch freedom its your moral oblation to extinguish and/or keep current your SBD & steem. But I think we have the game flipped upside its head. Too many of us are chasing the number zero when we need to be chasing millions. Invest first and invest hard. Throw your windfalls at your investments. Throw your refund and bonuses at your investments and as you get gains make sure to throw those at more investments. In ten years you will be on a yacht chilling while your friends are posting screenshots of the low steem upvotes they slaved away to acquire randomly.

Yesterday I realized that I can’t sit still just because steem prices are low, I have to keep moving forward and that is why we are moving forward with what we have knowing that as the project improves we will see clearer but if we stay where we are our view will never improve.

One thing that is interesting about steemit is that sometimes you don’t know all the answers at the outset or even in the middle of a project. Sometimes you need to sit and think for a week and then come to a good answer. This is why sometimes when I get questions from minnows I don’t have the best answer. These are thousands of dollars we are dealing with and to expect to have the precise answer on the cuff at all times is just unrealistic. I never promise that I have all the answers I only promise that steemit puts investors and partners first. The overall long term, 3,000 foot view is the goal not the minor details.

Invest in communities you believe in - @oracle-d

I encourage you to invest with @promo-steem and @steemaustralia and join their Promo-Steem network partnership. They are doing a great work and if they keep up the pace they can give the keys to the community to run as it sees fit before the middle of next year.

Thanks for reading!

Be great, invest well,

Uncle T

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