An Affordable Way to Support the STEEM Network!
Recently I've started excersizing my own method of helping the STEEM network out which involves taking the remainder of whatever STEEM I've been paid out for posts and powering them up rather than selling them on the markets. For example if I wrote a post and ended up receiving 65.890 STEEM paid out to my account for author reward 60.000 STEEM may end up being sold the remaining 5.890 STEEM would be powered up! Picture example below:
(A screenshot from Steemit.com showing transfers with the remainders powered up)
While this doesn't seem like a whole lot initially it does infact slowly add up the more you post. Instead of taking the default 50% STEEM / 50% STEEM Power payout the network defaults on by taking your remainder and re-investing it into the STEEM network you end up with ratios higher than 50% being put back into the network, which in my opinion should help the network long term. While I'm only one person currently following this routine if we all started powering up the remainders of our payouts rather than dumping them on the market we'll slowly see a decrease in liquid STEEM available to trade which should in theory cause prices to slowly go up as the scarcity of the token starts to climb.
If you'd like to see a rise in STEEM prices in the future I welcome you to start a similar payout ritual power up! While it's only a few odd STEEM here or there it should help in the long term. Not only will you be helping the network out but also yourself by powering up faster!
Vote @klye for Witness!
https://steemit.com/~witnesses
A Proud STEEMbassador of Canada
(News on @steemcanada Campaign Soon!)
Great initiative.
I am doing this routine for several weeks now. Although I power up every steem that I get which is pennies. And you power up only a small fraction of your steem and get much more SP in the end, of course.
OK, I changed the tactics yesterday. Now I am giving all my Steem into @steemsports Clinton vs Trump bet :)
Another penny for your SP. Cheers.
Thanks a lot :)
You welcome. One penny is all that my SP can do for now.
Glad to hear you were also doing the same..!
Who you voting for on that steemsports bet?
Clinton, I am afraid. It is strictly a business affair.
Anyways, these elections are a loose loose situation. You can't even vote for a lesser evil :(
yeah.. there really isn't any outcome in the US elections I'd personally like to see. :/
Unless I've been collaborating or gifting something, my posts have been 100% power up posts. Frankly, I like seeing my vests grown...I can almost taste dolphin. LOL
Rofl. Almost taste dolphin.
That is great to hear merej99! I wish I was in a financial situation I could afford to power up 100% of my STEEM posts. In the future I'm excited to be able to do that.
Well, when you're throwing your earnings toward your projects it's kind of hard to do the extras. Hopefully you'll see top 19 soon. What are your thoughts on revoting witnesses every 3 months? As a general user, I feel like elections will never stop!
The idea of votes going stagnate will hopefully provide some form of shuffle to the witness deck.
While I think the implementation itself is a good idea I'm waiting to see exactly how it all plays out.. My guess is that we'll perhaps see the more active witnesses rise and the inactive or silent witnesses slowly get shoved out of their positions as votes expire.
It does force more user interaction with the politics of STEEM. Undecided personally yet if that's a good or a bad thing. :)
I personally think it puts too much on the "general user" because most of them don't even know you guys exist. I wrote a comment about rotating 5 out every 3 months, leaving the other 15 to use a 9 month period to focus on their projects without worrying about stumping for votes, and using the witness votes as part of the equation (not the end all be all) to determine which witnesses qualify for the top 19+1 spots. But I don't know if that would work either. I guess we'll all hold onto our ankles and see what happens! Ah, the beauty and curse of beta. :)
Yay a witness is doing it, and a fellow Canadian too.
I started a new system where over half gets powered, 35% gets turned into SBD for future savings, and the rest is sold on polo to fund my bitshares ambitions. (Oh and impending autovote incoming)
That is a neat way of doing it!
I've not really looked too deeply into bitshares yet but will in the future.
Cheers to a fellow Canadian! Good to see some of us on STEEM. :)
I've said it before and I'll say it again, to really support the Steem Network, and I mean by a very direct way of putting value and funds into Steem, grab stuff you would have on a garage sale, pop it on OpenBazaar. Make sure your sales are paid to you directly in STEEM using Shapeshift ( instructions here https://steemit.com/steemit/@cryplectibles/openbazaar-takes-steem-list-your-art-or-garage-sale-items-now ), so now all the items which Bitcoin users are actually spending their Bitcoin as a currency are buying from you, is directly converted into STEEM with Shapeshift. Any alt coin could use this idea, but I think Steem is more special in how everyone can advertise their products on the network here as well as link their OpenBazaar store to their Steem blog.
Man.. This is a costly way to do things and I cannot advise people to pay anyone through shapeshift, Their fee's are ridiculous.
I guess my view is that if you have items in your house and you can list them to a worldwide audience without having to leave your chair, plus get paid in STEEM as well as add value to the network, seems like a decent plan even with having to do a transfer fee, which people pay something anyways usually when using exchanges.
I've been powering up like that too! Since my first post! Good job, @klye! :) I'm going to mention your home country in my next post. Watch out for it!
Will keep my eyes open for sure.
Good work on powering up as I've been doing. Every little bit helps retain our networks value. :)
You can find the new post here. Let me know how I did with the Canada part! :)
This idea found to be affordable to tweet to some steem related accounts.
(cost: 0 steem)
I've only a handful of twitter folks so unfortunately me retweeting things is basically me talking to myself and my imaginary cat. :P
Just realized I've never received a tweet from an imaginary cat!
I'm not there yet, but can't you get a slider at some point and then just say 65% (or whatever) goes to SP to do about the same thing? Maybe I misunderstood the reference to a slider?
Ahh. The slider I have now allows me to set my power of voting.. Sadly I don't see one for SP payouts yet.
Oh, my mistake. Should have looked it up. I just assumed it was so that you could vary from the 100%/50% dropdown box.
No worries sir. I'm here to educate. :)
This is a great way to do it. I am going to do this as I usually only take out even numbers and could easily power up small amounts regularly. it all adds up as you say!!
Nice idea! I will follow it too :)
This post has been linked to from another place on Steem.
Advanced Steem Metrics Report for 7th November 2016 by @ontofractal
The Daily Tribune: Most Undervalued Posts of Nov 07 - Part II by @screenname
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