Why You Are Not Powering Up...
I've had people close to me who expressed doubts about powering up their earnings from blogging on the steem blockchain. It's understandable and I wouldn't advise anyone to invest for the long term in something they don't 100% grasp.
This is why I'm compiling here all the reasons why I HODL my STEEM even when they went as low as $0.10 each in the beginning of this year.
Let's jump into it, shall we?
What happens when you power up?
With the SBD is worth $10, this means you can get incredibly cheap STEEM on the internal market...something around $0.18 per STEEM. An incredible buy opportunity for people who makes author's rewards.
So if you are wondering what you get in exchange for vesting your STEEM for 13 weeks, you get the ability for your vote to have an increased value. This means that it's easier to get your article in the "hot" section.
An hidden benefit is that you, if you are not a pro trader and want to reduce the chance for you to sell on an emotional impulse, powering down gives you a week to reflect on whether or not you should sell.
Why Power-Up
1. STEEM is more than steemit.com
Steemit.com is only one portal to get to the steem blockchain. The more portal there is, the less single point of failure exist and the more entry points there is to the ecosystem, the more users can come in, etc.
Here are a few of them:
d.tube => Steem Powered Decentralized Video Platform
dlive.io => Steem Powered Decentralized Video Streaming Platform
dsound => Steem Powered Decentralized Music Streaming Platform
steepshot => An Instagram Like Platform Powered by Steem
dmania.lol => 9gag for Steem!
utopian.io => Rewards the Open Source Developpers!
And more...
2. Steemit.com alone has over 35 Million PageViews per month
No cryptocurrency project has near the impact that steem has on the search engine. It's social, it creates communities and is to this day the best on-ramp to crypto in existence.
3. Steemit.com is the 2000 most visited website on the entire internet
Check out
4. The STEEM blockchain is proven to be the best when it comes to high performance
Blockitivity tracks the use of blockchain, the volume of transaction and the capacity utilization index.
Go check it out and you'll see that even with a 1,000,000 transaction per day, it's still in the green!
5. Impressing features beyond social media use case
No transaction cost! That's HUGE! Instant transaction! That's HUGE
These are 2 of the biggest pain in the neck when using crypto and steem got it solved.
6. First to market, strong team and miles ahead from the competition
Steem is the first blockchain to rewards it's user for creating content. There has been a lot of growing pain and lessons taken in the past 2 years. But it's already at the scaling stage with #HF20 coming soon. If a competitor were to come in, there would be a lot of catching up to do to compete successfully with steem.
Conclusion
To me, it's a no brainer to power-up right now (or anytime). You want the biggest piece of that pie that you can get your hands on if you think that those are clear indicator of strong upward potential in term of price and impact in the world.
Please let me know if you think I forgot to mention something here.
I literally have been trading my sbd to Steem and it’s crazy how much Steem I am able to get . My plan is to save 1000 Steem in my account and then start powering up for future investments , I believe the price of Steem will rise next near with the new features coming out
I think that's a great idea, to save and power up continuously. I wonder how much interest could be accrued after a year? I am definitely considering on powering up after reading this post and comments.
It’s also has the best crypto wallet in my opinion. Be pretty hard to hack into and steal funds if you have it in savings or in steem power.
Yeah, that's what I like Steem more than any typical wallet.
Being onboard with steem power and getting an interest of 1.9% APR is more than enough in Cryptosphere. No wallet gonna reward you this much unless they are something like PONZIS (Kidding!)
Been powering up since I got here and never pulled anything out yet because I believe in the power of compounding and getting higher rewards. So far I have no been disappointed! Power UP!
Is it because of spare money that you had? I think people(most of steemians) is not powering up due to their low bank balance. Alsoy the could invest own pennyes to ICO and loss their money.
Let's not forget that you get an interest rate for holding Steem Power.
Thanks for sharing that info, I had no idea that you could draw interest on Steem Power. I will definitely keep this in mind for future reference.
what is the interest rate for holding steem power dude
This is something I was looking for.Really helpful for the community.Thank you very much for sharing such useful information
I want steem to 10 dollars, not steem dollars. This most likely is not going to last long.
From day 1 I have found steemit to be a community geared as borderless and if I am going to spend my time I am going to back its growth 100%.
And that to me says it is a no brainer to be powering up!
Great arguments for powering up. I’ve been doing this since the SBD increase. Long Steem!
I completely agree with you that now is a very profitable time for the acquisition of the SP, and many, including myself, use this. So your list of projects where you can earn the STEEM correct, the only one I added here is busy.org Thank you @cryptoctopusand keep us informed.
This is a really enormous amount of very good information. I did not register for Steemit for monetary gain. My very good friends and trusted advisors on You Tube were being de-monetized and censored. Severely anxious that freedom to decide and hear all sides would be curtailed, I followed them to Steemit. So naïve about social media, when they said "sign up through your Reddit account" I did not know what it was. Slow but steady I began to get Steemit in my own way. I power up everything and am joyous that my upvote finally has value beyond recognition and appreciation. Great, great post.
Same! I did not register an account at Steemit for monetary gain mainly. It was an excuse for myself to start writing again, then after a lot of reading on the platform, I found that steemit is more than just reading and writing, which makes things interesting!
Appreciate the reply. Didn't mean to disparage the financial side. Love it!