Growing One’s Steem Power By 10% Per Quarter: A Reasonable Goal?

in steem •  5 months ago

I’ve been doing a half-assed job of tracking the growth of my Steem Power. My CPA shook her head. Me, the son of a banker and grandson of two accountants has kept sketchy records. Oh yes, the Internal Revenue Service will love me. I’ve earned some directly, used the internal market to convert SBD’s for powering up with others, and purchased some sporadically with Bitcoin, Litecoin, and other cryptos. Yeah, I’ve been a bit sloppy about it.

But one thing I’ve never done is power down. Doing so at some point in the future isn’t on my radar. Yeah, maybe I’ll start to think differently at some point after I retire but, for the foreseeable future, I’ll be powering up, not down.

But I want to do so with a plan, or at least the framework of a plan. To date I’ve been able to build an account that’s now got just over 6,200 SP. I’m not one of The Old Ones who signed up in the summer of 2016, but I’ve been here for “19 moons” which is longer than most people have. Steemworld.org shows that between author rewards and curation rewards, I’ve earned about 1,600 SP directly. Most of the the liquid rewards that I’ve earned have been powered up converting it into SP (guesstimating another 800-1000). Ballparkish the SP I have has been maybe 40% earned one way or another and 60% purchased?

It used to be a lot easier to earn Steem Power than it is now. Assuming that HF20, fast onboarding, and the rollout of SMT’s all go well, it doesn’t take a rocket scientist to project that going forward it might be a lot harder to earn Steem Power than it is now.

A while back I set a goal of making it to 7,000 SP by the end of the year. Realistically the majority of that will have to be bought rather than earned. But what about into 2019? I’ve started to think in terms of a goal of increasing my SP by 10% per quarter. Compounded, that works out to a bit over 46% a year, which would have me at just over 10,000 SP by the end of 2019. That’s a long way to project and all kinds of things could go wrong. (If Steem mooned, I wouldn’t be able to buy a bunch. But that’s a problem I wouldn’t mind having.)

But for an account my size (smallish dolphin), growing by 10% per quarter doesn’t seem outside the realm of possibilities. Smaller active accounts could grow by larger percentages.

Anyway, those are my tentative SP goals. What are yours? Please discuss in the comments below.

Disclaimer: This should not be construed as financial advice. I am not a registered financial advisor; I don’t even play one on TV. Do your own due diligence. Batteries not included. Objects may be larger than they appear in mirror. Some assembly required. Do not taunt Happy Fun Ball.

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It used to be a lot easier to earn Steem Power than it is now.

Can you expand on this please ? just because of sheer competition or due to some mathematical/algo reason ?

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Competition. I was the 143,462nd account. There are now over a million. If HF20, fast onboarding, and SMT’s all rollout smoothly, we could see a massive number of new accounts.

Greetings, @preparedwombat.
I am really bad at math, so i don't even try to make the numbers. As a minnow who does not relate with many users on discord, who can't travel and meet people who may help him grow, etc, i have done my best to grow producing content and curating.

My SP was 55 last month, today is 76-25 that i delegated. That's about 20 points a month. It's painfully slow for me considering i won't be able to post that often in the next weeks (back to work--assuming my university is still there when we come back, kids go to school, lots of distractions).

My goal to to reach 100 SP by November. Hopefully, things will get better by then.

100K by the end of 2019 for me.
You'll find your curation rewards really add up as your SP improves.
I'm adding 7-12 SP a day just from curation.
That's around 300 a month, or approx 5K by 2020.

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author_reward_curve = linear
curation_reward_curve = square_root

Gotta admit I’ve never understood how that works. 😏

My next goal is 20k, I was hoping by EOY, but I'm not sure I am still on track for that.

I am not powering everything up anymore, so I might have to extend the goal. Mostly, I felt like I need to get more diverse is the only reason. I never sell crypto, it's too expensive.

My end goal is to use my stake like principle to create an income sometime later when we get more serious about retirement or leave my kids a nest egg.

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I do also see it as some kind of retirement fund! 20K sounds great! I am sure you will able to achieve this before Easter next year!
Let's go girl!

I just crossed the 5k mark because these prices are hard to resist not buying! Being a Dolphin has been my goal for some time now but I too am wondering where to go from here. I am focusing on how to increase my SP by earning it now like you so I am trying to engage much more and in many different ways via different projects and dapps on the blockchain. I have not got to thinking about numbers but I am powering up everything right now!

While 10% doesn't seem much it will reflect in an increase of almost 3K. that's would be an increase of 250 SP per month, a little more than 57 per week. That would be impressive!
My goals is to reach 750 SP before the end of the year, and at the moment I am ahead of plan. My goals was to increase the SP with 13 per week. Which is quite a lot for a small minnow.
I would be great if I can double the own SP next year!
Let's suppose that I will 800 at the end of the year! That would mean that I would need to grow more than 15 SP per week. Which will be quite a challenge!
But we have to grab the moments which will come by. The support of steem-ua could help, just like the occasional post from actifit.

That is pretty difficuld @preparedwombat, but I don't think that is impossible.
Nowadays I am getting almost 10% per month posting at least one post per day, but I don't know how much time I will continue to get that percentage... Maybe for more a few months and them I the process will start to become more and more difficult.
But hey, I think that you need to put a goal that is possible but hard to achieve, because in that way you will get the best of you to achieve that.

I am just a minnow, its way beyond me, but keep doing your boy scout thing, that is being prepared. 😎

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Hi Mr. Wombat...My plan is to stick it out here with the growing pangs of Steemit, posting at a comfortable rate and see what the future holds for us all.

i m a big believer of, "what you measure/track get improve" awesome effort digging out data on your SP growth and setting target.
you can dig out the old transaction data on how much sp you trf over to your steemit account, just check the withdrawal logs from binance or bittrex and blocktrades

I have similar 10% growth target monthly at least like you mentioned for small accounts. Let's put in the work towards our goal.