32000 steem - why I just increased the ante
As I already received some questions regarding my recent buy of 32000 steem (and subsequent power up) I thought it might be worth to share my reasoning for that here on steem.
The first reason of course is an economic reason. As already outlined in the past, I firmly believe that a total steem valuation of 100 Mio. USD is far too low.
It is however difficult to come to this judgement doing a direct plain comparison to facebook.
https://steemit.com/steem/@solarwarrior/multiples-steem-vs-facebook
I personally take this only as a kind of anchor as I assume that a steem user should be valued much higher than a facebook user due to higher interaction, involvement and better demographics.
At least we can talk about an active community here that is able to interact directly on the blockchain.
Where else do you have this?
And technology wise I think steem is good enough to make a huge difference compared to the short comings of especially ETH, and at the same time good enough to fend off everything that is emerging in the near future. (of course not sure what Dan is up to with the whispers about the big June/July news of EOS)
Steem has some really important features that should give it a pole position as soon as the crypto rally takes off again:
1.) Easy start (newbies) and user friendliness (registration, wallet, transactions, keys, different UIs)
2.) Already big enough user base to go ballistic again
3.) Quick, cheap and secure transactions
4.) Blogging as central module and therefor easy community building and interaction
5.) Many tech geeks and entrepreneurs already building great DApps enormously widening the application potential
6.) All this games coming up attracting new users
7.) steem is environmental friendly (every blockchain that is based on energy guzzling algos (mining) will fail soon
8.) A completely untapped institutional investors market that could be tapped easily (look at the EOS funds for example - problem is no insti has steem on the screen - yet)
9.) steem engine! (huge potential.. not clear to most people yet)
10.) steem is still standing besides so many attempts to shoot it down (externally as well as from within)
So this is of course NO advise at all to put any amount of someones hard earned cash into steem but I want to say that I believe I did not loose my mind completely and have some viable case why this could work out for me.
(someone definitely should only spend/invest in cryptos what he/she can loose entirely without getting into real world troubles as cryptos definitely can go to 0 and most actually will do.. NEVER bet the ranch!)
But the speculative motivation is not the reason I did this in first place.
I did this because I want to start a new and very specialized curation project. I will write another post about the purpose and the idea soon, but baseline for my decision to buy this amount of steem is that I will also try to convince other steemians to consider some delegation and therefor firstly wanted to put some skin into the game myself. I plan to delegate 35000 steem to this new curation project.
This makes sense because to have some bang as curator the voting power should pretty quickly be above one dollar with a medium target of 5 dollars to give authors one more incentive for their hard work.
And as I fear that I have to put a lot of time in this project its better to start it with some tailwind to give my investment of time a better chance to pay off...
Not all is blue skies and besides the post for the new curation project I will also post about the problems I see.. but the opportunities are much higher than the risks.. at least this is my point of view...
(I will probably double down if the steem price should move in the wrong direction ;-) )
self-voting:
As many of you know I am no fan of voting bots but at least atm we have to live with them - those are the rules of @nad and the whale gang.
The etiquette here on steem seems to be: accept this and work with it as promotion service. So I should give my voting power to a voting bot that pays me in steem or sbd, the same steem or sbd I will then take again to pay the bots to promote my posts that someone can find them between all this garbage...
.. seriously??? ... I believe you get my point...
.. so I will with no shame upvote my very own posts with my very own voting power, too - as long as voting bots are running.. (@edicted and others already made a nice case for this)
yours solarwarrior
Hi, very good strategy, the one you propose after the decision to invest in steem. However, motivated by the momentary problems of the Venezuelan economy, I had to perform a power-down that I hope to reverse in a short time. Receive my appreciation
Hi felix,
what would really interest me a lot:
In the current situation in Venezuela, what does really help the ordinary people struggling to get around?
What does work? US Dollar cash, Gold or Silver coins, jewelry, Brazilian or Colombian money? Crypto? Which crypto? Only Bitcoins or also other coins? The own little field where you could plant some veggies? Art? I mean what can you really use to get some food, medicine and other stuff atm? How can you use crypto to buy some food?
I am really interested in that, but please only respond here if that doesn't put you in any danger!!! - I can not judge from here if that would be the case or not.
Dear @solarwarrior
As far as I know , cashing out STEEM is very easy in Venezuela
Yours
Piotr
how would it work?? I assume BTC or ETH vs. pesos would be easy as this is a way to convert into USD related things and transfer out of the country?
Please check the blog @orinoco, we also have other friends who can help to exchange the local currency with steem or sbd. We also use the services of LocalBitcoin or Airtm.
Thank you @felixgarciap for that explanation :)
Thx for your comment @felixgarciap,
And god bless Venezuela
Piotr
Well written and a clear strategy. I go with your way of thinking and this is why I spend time and efforts with steem and that great community.
You deserve at least one !BEER for this good work
To view or trade
BEERgo to steem-engine.com.Hey @solarwarrior, here is your
BEERtoken. Enjoy it!I certainly agree with you about self voting.. if you don't support yourself then why should other people. However I think it's rude to UV your post as soon as you write it. You are potentially losing curation...or a big UV from someone else who is curating... I personally like to wait until the post is 3 or 4 days old before I UV it.. that way I'm not stepping on anyone's toes..
yes.. I agree.. I used to do this the last this month.. but then you encounter two problems:
1.) the upvote shall promote your post.. so it should be done asap
2.) upvote bots just jump in after 15 minutes...
and as far as I understand the mechanism the self vote would harm other voters most if I do the vote after 15 minutes.. if I do it adhoc I assume the other voters will be better off?
When you vote in the first 5 minutes everything you could have made in curation gets burnt.. so your .75.. you get about .50 in rewards.. the other .25 is wasted.. if you really want to get the most rewards UV at 14 minutes. But some of the UV bots vote after 13 minutes. I use delegation bots myself now a days if you look there are some really good one.. check out @steemcryptosicko he's got great ROI..
OK... thx a lot.. so burnt means it gets back to the pool.. neither the curators nor the authors get the curation? only the author gets the author portion?
so lets assume my upvote is 100 units...
usually splitt would be 75 author / 25 curation
you say now if I vote within the first 5 minutes the 75 author is still there, but curation would be 0???
Correct.
Dear @davedickeyyall
I wasn't aware of that. Thx for sharing.
Yours
Piotr
You still don't have nearly enough stake to screw other upvoters out of curation rewards. You seriously have to have like like a $5-$20 upvote to do that.
hmm.. let me check my piggy bank.. ;-)
so is dave right or not?
Manipulating curation won't be something you have to worry about unless you x10 your stake. People who vote after you will get like 24.8% curation instead of 25%.
Not necessarily screwing them over.. but not getting curation and not letting the curators split up that other .25
so a good compromise could be to wait 30 minutes before I do the UV?
Perfect
thx a lot to both of you
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Dear @solarwarrior
32k SP powered up? Wow. That's an excellent news. Love to know that we're having another strong "dolphin" in our Steemit community.
I fully agree that there is still huge potential for price of STEEM to grow, but at the same time I'm worried what would happen if this would take place? I presume that Steemit would start dying.
Imagine how difficult it would be for anyone new to start being active on Steemit, if they would need to purchase 100$ worth of STEEM (just to power up to maybe 50SP). If price of STEEM would increase even to 2$ or above then with current RC algorythm we would witness absolute lack of new users. That's a one solid dawnfall.
ps.
Please check out my latest post about "Project #hope"
https://steemit.com/steemit/@crypto.piotr/two-in-one-my-happy-birthday-and-raise-of-project-hope
I hope you will find it interesting and worth upvoting.
ps.
I would love to upvote it but I drained my voting power (below 70%) so I need to recharge it first. Till next time :)
Yours,
Piotr
I firmly believe that even with a steem price back above 1 or 2 USD it won't be a big problem to attract new steemians.. I actually believe that it would be much easier... once steem is going up in rankings and perform the crowd will be rushing in again...