$10,000 in STEEM or STEEM POWER please help (my wife says, "NO, $10,000 on her")
RISK TAKER
I'm a huge risk taker and those risks have left me like a hobo and other times living on cloud 9 . I've since matured but my risk-taking has became more tactical. I'd like to make a small investment into my #STEEMIT account before I start putting in 6 digits. I'd like to start off with $10,000 USD. I need some clarity. I'd hate to see #STEEMIT on an American Greed episode.
STEEM POWER or STEEM
noob question
What is recommended? #STEEM or #STEEMPOWER. What's really the difference and what is the benefit of either one? What are the risks? I would ask my Financial Advisor but he would laugh at the idea like she does anything that isn't conventional #INVESTING.
Cryptocurrency
I have a vague understanding of #CRYPTOCURRENCY and how it operates completely independent of conventional central banks.
THANK YOU CREDITS
all of you gave me really valuable information and sources on understanding what #STEEMIT is and the blockchain.
UFC FIGHTER POSTWAITING...
While I wait for a reasonable answer on this particular matter, I would love to show you how I decided to spend $10,000 on my wife instead of investing it this week.
There's Adventure in all of Us
I took you Indoor Skydiving with my 6 year oldI took you on the road with the White Power Ranger to get a tattoo
I took you on an aerial tour of Houston
I took you to @ned scott's funeral (RIP)
I took you to #STEEMITGUNCLUB
FOLLOW
AND I WILL TAKE YOU PLACES
mostly in Texas LOL
Black Uncle Sam Credit
$10,000? Hmm...
I think your wife might be right. But if you're OK with the possibility of losing a big chunk of your investment, then I suppose it's not a terrible risk to take when STEEM is under $0.10.
If I was making that purchase, I would probably split it and use some to trade the range and some to hold in STEEM Dollars and convert if the STEEM price dropped. As the price rises, sell off some STEEM and buy SBDs again. Then repeat.
While that's going on, just use the STEEM Power to accumulate more through curating. If you're putting at least $5,000 into it, you could get some decent returns if you're good at finding overlooked content.
The good thing is, there are a lot of different ways to play it. It just depends on how much you want to risk and how much time you have to spend on the site...or if you'd want to automate any portion of your voting.
at @ats-david that is some good advice. So ultimately its would be the equivalent of trading stocks but more hands on. I have lots of time. I guess I need to look into curating and maybe automation.
Yeah, I think a mix of everything would do you well if you have the time. If you're familiar with the swaps on the gold/silver ratio, it can pretty much be used the same way with STEEM/SBD.
I can also give you a lot of pointers on curation as well. You can contact me on Steemit.chat, if you want. User name there is ats.david.
Will do.
STEEM is liquid. You can cash out at any time.
STEEM Power is locked up STEEM. Whatever you lock up in STEEM Power can only be converted into STEEM over 3 month (in 13 equal weekly instalments).
STEEM power is needed to vote on content. The more STEEM power the more influence you have over how rewards are allocated. When you vote on content you also get allocated curation rewards. You also get interest for holding STEEM power (I think it is currently 15% of 9.5% pa).
Risks of holding STEEM power - if you need to cash out quickly you cannot.
Risks of holding STEEM - missed opportunity costs that STEEM Power affords.
I think that's it in a nutshell.
ThankYou! Yeah that's a nice dichotomy that I can understand.
Thanks so much for this @nanzo-scoop
@edje you both should hook up
Steempower gives you more voting power for post upvoting and lets you earn more on curation rewards. But investing in SP does make it harder to liquify your steem if you do want sell. (13 weeks powerdown period)
Holding just Steem doesn't give you extra curation/voting power. But is does make it faster to sell your Steem if you feel the need too.
I would say, hold Steem if you want to trade for shorter term and hold Steempower if you would like to invest for the longer term.
Thats just my 2c but i'm no techie either :)
Makes sense. Hold steem and you can always trade it for BTC or whatever currency you decide. Hold Steempower and you have more of a vested interest in STEEMIT? Man I swear
Holding Steem Power will give you a +1% ROI per year if you do not earn Steem by blogging or curating. The only reason to Power Up your Steem would be if you intend to get into the curation game. To maximize your curation rewards setting up a voting bot is the only way to go. A good bot will give you a ROI between 10% and 20%. The downside is that powering down will take 13 weeks.
If I had 10,000 to invest I would much rather setup a business that accepts Steem and/or Steem Dollars and only invest a portion of the profit in Steem.
@onthewayout what you would do with $10K is in the cards. I may not invest directly more so than start another business that would accept STEEM or even use one of my current businesses to trial run accepting STEEM.
If I may use a poker analogy: investing in Steem right now is like holding 2 suited connectors before the flop (if your playing Texas Holdem). You can get a strong draw on the flop or you can get a dry board. You can hit big or you can bust.
By the way, thank you for the donation I appreciated.
When I was in university, one of the professors asked to us [student] a simple question: "After you get profits from your current business, how would you distribute them? You have two choices: family or business. Pick a ratio". Most of us gave mostly 9:1 for business, some others said 100% into business, justifying their choice with the idea that future profits would help to provide for the family.
We were waiting for the positive confirmation from the professor. After a bit of silence (he liked to be theatrically dramatic), he said: "Always invest more in your family than in your business, I would prefer a ratio of 7:3 or 8:2. Your kids will need college and your partner will appreciate your financial support. What goes around comes around"
In your case, I would say buy a cheaper diamond ring, you can find $2000 diamond rings and the rest of money invest. The main rule in finance is "do not put all eggs in a basket". So you could invest the rest of money, not only on steem but other altcoins or BTC (even better, but wait when the price crashes down).
my 2 cents. i hope i didnt bore you lol
@TheBluePanda that is some good advice and I understand your position. That's why I asked, I wanted multiple perspectives. My wife already has the ring lol.
better :) but that's my woman side talking :P
congratulations :)
Interesting!
honestly, i would prefer a ring that cost less than $2000. the more expensive ring, the higher chance for divorce hahahahahahahah
OK, your wife is enabled to engrave glass, now. This is exciting.
Steemit is exciting too. You need to have STEEM for power up the Steempower (SP). Steempower is a long term investment and a risc by rate. You are able to release Steempower by 13 equal weekly tranches only. Once started you are enabled to stop the next powerdown. With SP you will make good STEEM by curating (voting) and commenting. The „Minnows“ earn low ($0.001) by curating, only. You will make real Dollars. 1 STEEM and more. You can vote 40 Times/24h.
I just watch the market. As long a whale (>1 Mio. SP) is powering down his tremendous Steempower is decreasing the rate. This week it seems to be through and I expect the steem is going up now. At least to $0.12. But it doesn't go up this week. Maybe because of the fork. V017 is coming soon. And the next tranche of the whale occurs very soon again. Then you will have the chance to buy STEEM very cheap. $0.089 maybe or lower. if you are a lucky one.
When you have bought STEEM power all up, to Steempower (SP). It is a at least 13 weeks long termed investment for having an income by voting and earning curation awards. If you are busy voting, you will double the investment in one year. Then you power down 10,000 and buy a diamond and have 10,000 left, working on the Steem.
If you hold SBD, your including amount of STEEM will always be as much as one USD. SBD is the coin of USD fixed STEEM like no risk no fun.
Here is another lecture regarding buying STEEM.
Legend:
STEEM – currency, cybercoin
SP – STEEM–Power, long terminated investment, high voting power Minimum 13 weeks. Actually between USD 0.08-0.12
SBD – STEEM Backed Dollar. 3% interests per year. 3 day withdrawn
Steem – Name of the blockchain
Steemit – Name of the frontend.
thanks @afrog
you are welcome, @xtrodinarypilot
Have a look to the market. It is located in your wallet.
You can't be serious? I must be the only black male blonde alive.
I don't understand. I have been blonde as I was Fourty.
They certainly are. Even when they said it doesn't matter
If you have that amount of money, surely you can spare an afternoon reading some tutorials. There is a ton of material, you just need to do a little research. No one can tell you how to spend your money. This is your responsibility alone.
Best luck!
@rossenpavlov I am not certain how I even found the time for #STEEMIT I have read a few tutorials but some get too technical to hold my attention. There is always an easier way to say things and this is why I reached out on a post.
So just spend 10 000$.
If you are putting it into steem you might as well burn it.
steem never goes up in value only down.
@skeptic show me some data, anything. For real. I'm looking for real experiences.
k
this last month
last 2 months
4+ month
from the beginning
you can check it all out here if you like.
https://poloniex.com/exchange#btc_steem
im not trying to sound like a dick, just feel you might be burning money by investing in this scam called steemit.
@skeptic I thought you went silent on me. I just realized I didn't get a notification on your response because it was flagged. Thanks for responding. I will look at your references.
yeah i have been censored by a couple people.
my posts, comments and stuff don't show up on peoples feeds.
cheers
@skeptic yeah I see the sharp drop. I experience that with the stock market. But I have a broker that handles all of it. It seems like I would be in charge but I have no earthly idea what drives the price of steem up or down. Perhaps I missed the window.
a lot has to do with users, if the number of users doesn't grow then steemit doesn't grow. there is a big problem with keeping people on this platform because of the flagging system. the censorship on thisite is the biggest problem and everyone leaves because of it, the people in power have no want to fix it as they also censor people they disagree with on here.
im sure your broker knows more about stocks then i do (i have no clue) but i do know about this site. its almost all alt accounts and bots. it looks good till you go digging. then you realize its like 20 people with a lot of acconts all pumping out garbage that they all send their bots to upvote. when someone notices it they silence them with the flag.
sry about the rant, i still get mad when i think about 6months spent posting only to ghave my account killed by a couple people because its "offencive" or whatever excuse they make up0 that day.
https://www.minds.com/newsfeed/684254548109303810