๐ Here Is What Happens When You Power-Up 10,000 STEEM ๐ (when Steem is at $1)
Hey guys and gals,
I thought I would share with you something that I've been wondering for while...which is:
What happens when you power-up 10,000 STEEM?
What Happened
Well, I had a bit of LUCK. (Labor Under Correct Knowledge)
When the STEEM had it's latest peak at 1.60, I sold my power-up for Bitcoin. Then when bitcoin was going parabolic yesterday, I sold my bitcoin and bought STEEM at $0.99.
I started a course at learncrypto.io about the Wyckoff method...and I'm learning to buy the dip! ๐ All this to say, that I ended up with much more STEEM than I started with and realized that I could share with you what happens when one powers-up 10,000 STEEM when the price of STEEM is at ~$1.
More Than For Research, I Power-Up Because...
I POWER-UP because it's the best place in the world I can think of to park my money. Like I said in a previous post: Nothing beats income and influence. I know that I'm getting a steady stream of curation rewards as well as author rewards. I will take that over any speculation...any day.
So Here Is What Happened
Shout out to https://steemworld.org for their amazing little app. I especially like the % calculator because you can play with it. Right now, I've been voting a little too much and I'm at 49% of voting power. Here is what it looked like before I powered-up:
Hey, ~$8 isn't too shabby but if I was at 100% it would look like this
So the magic number is $17.08 when I had 166,735 STEEM powered up.
Now let's look at what happened after a power-up of 10,000 STEEM.
Conclusion: Powering-up 10,000 equals an additional ~$1 on every votes. (and additional benefits)
I think that's awesome to be honest and let me explain why...
Once upon a time, the reward curve wasn't what it is today. Back then, adding 10,000 STEEM would maybe have added an extra $0.05 to my vote...brutal.
There were no incentives for me or anyone else to accumulate more SP because the additional benefits were marginal. But now I know that every SP that I am accumulating add significantly more influence to my vote. Also, my curation rewards will increase. I earn ~ 170 SP a week just voting on other people articles. Now I can expect an increase in this passive form of income.
Realize that you are at the right place at the right time, there hasn't been a better time to accumulate STEEM. In the future, when the price of STEEM is at $10, you will be receiving 10X less steem for the same $ reward. The future belongs to you if you make the most out of this opportunity.
PS: The link to learncrypto.io is a referral link. I think these guys are awesome and the community is great. If you are interested in trading cryptocurrency without losing your shirt you should check'em out. They also have a livestream two times a day to look over charts and banter about stuff.
After a year of being an amateur crypto trader, I can attest to the veracity of your https://LearnCrypto.io claim. We are a great group and Sensei Butterfield is the real deal.
Congratulations on selling the peak and buying the dip! It is so simple in concept, but, as you know, takes us denying our most common of senses. Trading - what an endeavor! The hardest part for me is being a DOer. When the coins aren't moving favorably, I want to get in and DO something about it! However, unless I'm following Harriman's formula religiously (which I haven't been so far) I usually end up just making things worse. How about selling at 4800 and waiting over a week for a "buy opportunity" dip that still has yet to be seen - THAT'S fun. LOL! Oh hello close to 6k, too bad the dip never materialized and I am not a part of the party. Sheesh!
What a wild ride. Emotional individuals be forewarned, best to buy and HODL for us uppity losers.
C'est la vie, live to fight another day. Or Lose, again ... and again, and again. HA! Someone's gotta do it and I've always been a giver!
@fathermayhem I think what you just commented has the answer to what I was looking for a long time. I was looking for a community or group of people that could easily explain how to buy dips and sell highs. Thanks for adding even more value to the post. Just upvoted your comment. @gold84
I just did something a bit similar (though to a lesser degree lol) by selling some BTC at peak for STEEM. When I look at the STEEM/BTC chart I am amazed at how long we have been trading sideways. I would not be surprised to see the next major STEEM rally take us to upwards of $4-5 before settling back down.
As to when this could occur, it's anyone's best guess. My prediction would be when a major development is released, such as: SMTs go live, Steemit official iOS/ Android apps released, Steemit official launch, a high-profile celebrity joining Steemit, etc.
Props on making such a great investment and thanks for being such a prominent voice and supporter within the Steemit community. Also, congratulations on your successful trading move! It's not easy to successfully time the dips. I'll check out the learncrypto.io link as there's always more to learn and I'm inspired now seeing what you were able to achieve :D
Hello @cryptoctopus
I for one dread trading cryptocurrencies because i did not want to lose my hard earned Steem. And when opportunities to buy the dip comes I am always handicapped because 95% of my earnings are in Steem Power.
I have been looking for a community like Learn crypto, the one i found last month charges 0.25 BTC as entry fee.
I will check out Learn Crypto and see where it takes me.
I am just happy for posts like this on Steemit, before I joined Steemit I had no access to reliable crypto information, but Steemit have give me a place to learn about Cryptocurrencies while earning one at the same time.
I also have a question. How far do you think the a reward curve change will affect curation rewards in the future?
@ogochukwu
yeah check out those guys. They are pretty cool and the course is on discount right now. I'm not sure the reward curve changed the curation reward curve to be honest.
@cryptoctopus,
Invest on SP power means we take a stake from reward pool! Where can I get the daily reward pool details? I have this question from the day one and still don't know the answer! Is there any kind of tool to get a clear idea about this reward pool status? If you know please share it with us!
Today you showed us a great example of value of SP! I will try to increase my SP soon!
Cheers~
I have seen that info somewhere but as you wrote it would be good to have a tool!
Very interesting
if you good man
please upvote my post :(( @cryptoctopus https://steemit.com/smt/@angelsmith/the-people-chocolate-eyed-more-trusted-true-or-not
This is so interesting and i am new at this but learning a lot.
Jus read in the internet .. check sites like 99bitcoins.com . Also download app called " feebly "
@cryptoctopus - Oh my goodness, $17 in a single vote :O ..... Sir, this is outstanding SP.....
One day Steem price will reach to more than $10 & you will be the Next Bill Gate Sir :)
+W+ [UpVoted & ReSteemed]
This could definite be that next thing.
Wow this really is amazing,,, cant wait for that year.
fantastic post my friend, many congrats on buying 10k steem at a very right time, no doubt you make a really wise decision and you are absolutely spot on with your steem predictions, i also think it's great time to buy steem and power up, as soon as i manage some cash i would defiantly buy at least 1k steem, because i truly believe that this coin and steemit has great potential and with every passing day more and more reputable peoples joins in and steem is growing slowly and steadily and we should definitely see at least 10$ in near future, you also tells us about another good service to trade coins easily and i should also try this, thank you very much my friend for giving us good suggestions, stay happy and blessed and have a very cheerful week end ahead.
I wish i would have not put off steem for so long while i was chasing all these new ICO's.
Remember that this perspective is powered by hindsight.
I kick myself after recovering from beating the crap outta myself due to a hindsight perspective.
Wait, what? lol
This is very useful to know. Of course not everyone can afford to power-up 10,000, but it's gives a good idea about what it would be like if someone powered up 5,000, 2,500 or even 1000. Thanks for sharing!
thanks for this information sir......
Is that Bateman?
That's the American Psycho, I think.
I am also trying to earn some steem and steem power. This is a motivational post for me. I will try to earn more. Hope to have some luck and bit of steem
I am just getting started. I'll add you to my list.
One thing I don't play around too much with is bitcoin, I invest a let it grow passively. Bitcoin mined earnings I move to passive growth, all other crypto is up for moving and used in places where I feel the purpose of the coin or token is of value to communities.
Nice insight as to how you go about making things happen @cryptoctopus
Thank you for the real informative post, still a minnow but striving to one day have more steem to power up, awesome returns!