My new Steem Fiscal Policy
Now
that post rewards only pay out SBD, I am posting 100% power up from now on, and taking my rewards later as they power down. All my SBD rewards I exchange via blocktrades to Steem Power now for a few weeks.
I have accumulated a reserve of ready fiat, but my regular income now is from mining, about €400/month, and I will be exchanging that and powering it up. This is plenty of income for where I am living, as a baseline, so now I can focus on working on projects.
Running a backup witness isn't really a terribly onerous task, and the infrastructure required isn't that great. My witness previously ran for over a month without me having to stop/restart/replay or anything at all, the VPS service I use is very reliable and the price is the best I have seen, it's a total win...
I am making about 3 blocks every 4 days, it looks like, which means at current prices I pay the bill in a week and the rest is more SP in my account. I would like it if I got more votes (and blocks) but it's ok as it is, and more blocks also means more time required and probably a second server to do it.
It's an extraordinary experience for me, to have some degree of financial independence finally!
It is probably going to take me a while to settle into it though...
Steem On, The Dream is Live,
You Have a Golden Ticket
:)
Nice to hear you are doing well my friend! Hopefully we will see us at the SteemFest 2. Looking forward to that! Cheers :)
I don't see myself getting to Lisbon and I'm not really so much interested but we will be working on setting up a crypto-incubator space in Belgrade when I get set up there.
Are u living in Belgrade now?
Nope, Novi Sad, couple hundred km north. I have to leave Serbia for 90 days before I can come back to resume sorting out being able to stay here longer.
really? where does it say that?
Steem Power and SBD only, 50/50 of each, is what it gives out now, because the SBD price is so high, it must increase SBD supply and reduce Steem supply, to bring the price back down to $1 per SBD. I haven't seen Steem in a reward payout for a couple of months now.
I probably shouldn't sit on as much SBD as I am incase STEEM shoots up pretty fast.
I'm glad to hear your backup witness is making some blocks.
Oh no, don't do it )
https://steemit.com/steem/@gavvet/how-to-get-more-bang-for-your-sbd-buck-dont-power-up-100
That's speculative gains, and I think he misunderstands that the same value of SBD will be given at reward where it would have been partially Steem if SBD was under $1. I am speculating that Steem's price has a lot further to go upwards, to 10 and maybe more, in the next 6 months, so I can take my payments through power down.
@lok1 can you please explain, powering up and.power down. As I see it, the rewards of your post will be transfered to Power Steem, but what does powering down means? You say you are going to take your rewards when they power down... I am sorry for the noob question, but i am on here for juat under a week, and there is a lot of stuff i wish to know. I spent like 2 hrs this morning reading the FAQ. I cant upvote, i dont have voting weight, even though i have 82% voting power... I followed you
Powering down means some amount of steem will be taken out every week for 13 weeks, calculated upon the balance at the time you power down. So I accumulate rewards, and every 13 weeks start a new power down. It's sorta like paying myself a stipend allowance type thing.
That's great to hear l0k1, I'm happy for you =)
you were totally going for username Loki. :). yeah. power up steemit!
Lol! Yeah, it took me a while of conversing with @l0k1 on here to realize that wasn't a number, it was actually supposed to spell Loki. Clever use of letters and numbers to get a name. :)