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RE: Steem Power Distribution - Top 100 Accounts Losing Control - 6 Weeks of Data...
The currency crashing is a somewhat good thing at the moment. It makes it easier for new users to buy in and means they'll get a greater share of the total then they would otherwise have been able to buy.
I bought in to early and lost a lot due to the Steem price crashing, but I still think it's better for overall distribution that the price went down as it did.
Hi @ottodv - being new to cryptocurrency, I've only just begun to watch the markets on STEEM and SBD. I don't have a lot to invest but I'm committed to using a good portion of my earnings to investing...and of course, some to catch up on bills. What would you recommend a newbie like me to invest in? STEEM, SBD or a bit of both?
Investment wise, Steem and SBD are risky, but then all cryptocurrencies are. You can easily lose all your investment on a mistake. That's why rule #1 is to only invest that which you are willing to lose!
You shouldn't hold Steem for too long, but power it up to get interest payments, but that locks you in for a long time. Purely as an investment that may be an issue, but if you want to be part of the community, have your vote matter, etc... then I think buying some Steem Power can make sense.
SBD with 10% interest seems like a good thing as long as the peg to the Dollar holds more or less - which isn't 100% guaranteed.
I am not giving investment advice, just explaining the pros and cons, ultimately it's your decision, what suits you better, if it even suits you at all.
That's actually very helpful. I've been playing around with some Stellar that I've had kicking around just to get used to the tools. As my father used to say, the market is like legalized gambling. And another friend always said "Don't fall in love with any stock - it will break your heart."
I've been accumulating my Steem Power because I really like seeing the marker move up a few cents when I vote, but I admit I have no idea how Powering Down works except that it takes about a week to do what it's going to do.
Same here, I like my vote to have some meaning.
You can power down less than 1% each week though.
Replying to @ottodv here because the thread is 6 deep:
I attempted to power down a couple of weeks ago and then decided to cancel it. I didn't see an option to power down a portion of it and I didn't want to do all of it. Like I mentioned, I'm new and my votes aren't worth squat right now - but I don't want to have the attitude that it doesn't matter at this point either. I'm just a minnow making may way. :) Thank you for your responses. They are helpful.
@merej99 You should hold SBD and don't worry about steem. Steem is designed to go down in price for the next 2 years. SBD will always be about a dollars worth of steem and it gains 10% interest for holding it.