Day #3 of Steemfest filled us with inspiration which inspired me to ask "How can I do the most good with my votes every day on Steem?" My initial answer to that below along with the story of our day together today!
Day #3 begins at 10 am!
After a wonderful night of sleep, @tomasgeorge and I met @ashleypeat for an Uber over to the conference venue. The lunch spread was wonderful today with so many delicious fruits! I’m amazed that it was no big deal for me to not eat for a 17 hours between dinner last night and lunch today!
Not long after arriving, @furion and @ned stopped by to say hi and chat a bit! @inquiringtimes was kind enough to ask @ned a lot of questions I was interested in which made it great for me to just listen!
After talking to @ned, @awesomianist stopped by and helped me to see Steem from his point of view. Living in Malaysia, $1 means a lot on an upvote. My $0.10 upvote would add up to about enough to eat for an entire day every week. On top of that, with 16,482 followers today the odds are that for the majority of my followers I have never even upvoted one post. That sucks and I am ready to do better! Talking with Ian inspired me to open my mind to be a better way to give back which I was about to receive!
Next, the Steemit Inc panel was wonderful to hear the upcoming plans for scalability and hearing questions answered!
I was perfectly primed and excited after that to receive the talk @starkerz gave! His talk reviewed his work with promo-uk and focused on our responsibly as Steem Power holders to do the most good with our votes. His full talk was recorded by @tomasgeorge in the video below from Tomas's original post at https://steemit.com/promo-steem/@tomasgeorge/starkerz-steemfest-talk-or-2nd-nov-2017-or-promo-steem-and-responsible-upvoting.
New Autovoting System
After @starkerz's talk, I could finally see a way to do better with what up until this point has remained my top challenge on Steem. How do I use my voting power to do the most good? Up until now thinking of maximizing my own rewards by simply voting those voting me back and voting up comments on my posts has driven the majority of my voting including 20% or more of my voting power spent on myself and about 50% or more total spent on myself and friends. If we all vote like this, why even bother joining Steem just to vote our friends up and help each other make money?
A better way as explained by @starkerz is to make sure we vote for those where our votes do the most good. When he shared this, I got a clear vision of having my votes going out to users consistently receiving small payouts that would most appreciate and be excited by my automatic upvotes.
To empower this change, starting today I am setting a 10% per post per day maximum for my autovoter including on my own posts, my wife @laurabanfield's posts, and everyone else I am voting for to enable me to distribute my votes more to those especially earning under $1 per post that will appreciate that the most such as in a country like Malaysia where a dollar as day is enough to feed oneself.
See the difference with a little math. Currently I can give 10 full power votes a day for about $5 or $10 each which I have been often giving to those voting me the most who often already earn $1000+ a month on Steem. Does my $10 do much good being thrown in with so many other votes? No. Will $1 on every post for the same authors I am upvoting now still show my support while allowing me to vote $9 to authors often earning $5 or less on every post? Yes.
At 1% voting power, I can autovote 2,000 posts every day for about $0.10 each. That is 1,000+ authors I can give a few cents to every single day which might not seem like much in the USA, UK, Australia, Canada, and some other countries where the cost of living is high. In countries where the cost of living is low, just $0.10 a post from me alone would equal enough to eat for several days every month plus a show of support for every contribution.
The more those authors are inspired to write for us, the more users we get which is our bottom line in terms of value of the Steem price. We get 100 or 200 million wallets before Bitcoin and we win the #1 cryptocurrency spot along with a $100 to $1,000 price per Steem. Every author publishing posts each day helps us do that especially those willing to do the most in exchange for the least amount of rewards.
Going forward I will make a system for me to notice posts by many more authors hoping to get added to my autovoter using the tag jerrybanfield. Most will start at 1% and be able to work up to 10% per day maximum voting power. For example, if an author makes 5 posts per day, the maximum is 2% for a total of 10% voting power daily. In the meantime, I have reduced my autovoting power to allow my voting power to recharge and begin this system. If this means those mutually autovoting me reduce votes, this is okay especially if those votes go to help out other authors. Anyone seeking to follow my votes and do the same thing can follow me as a curator on Streemian.
More about this in an upcoming post and video after I return home from Steemfest. For now, if you would like to apply to join my autovoter as an author, will you please use the tag jerrybanfield in your posts because that is how I will begin discovering new authors to add?
Back to Steemfest!
On top of the first talk, @terrybrock and @ginacarr gave an inspiring talk about discovering our best opportunities to contribute which confirmed my new autovoting system! Afterwords I got to meet @sterlinluxan and talk with Terry and Gina about setting up our next Florida Steem meetup in Orlando hopefully in the beginning of December.
We enjoyed an amazing dinner together starting with vegetable soup! @andrarchy invited me to sit next to him and @lukestokes where I also got to meet @roadscape for the first time while @lovejoy & @wolfcat took the final seats at our table!
For dinner they were kind enough to serve me the vegetarian option which was basically triple broccoli instead of meat!
My diet is founded in whole plant foods meaning most of what I eat is unprocessed fruits, vegetables, nuts, beans, and whole-grains because these are what the doctor in the book How Not To Die recommended. This means I go from mostly vegan approach and I’m guessing this desert might’ve been an exception!
After dinner, I rode the shuttle over to the SteemFest Snooker. There I had long conversations with @transisto, @exyle, and @cervantes along with making some fun photos with @karensuestudios, @rea, and @ezzy. At 11 pm I felt it time to leave and headed back to the hotel. Here are a couple photos from the beautiful walk back.
On the way in, I met @jeffberwick for the first time in the lobby while @tomasgeorge and @ashleypeat were just on their way out! What a wonderful day together learning and growing our community! Thank you for taking the time to join me for my story of what happened today!
Stay updated via email?
- Join at http://jerry.tips/steemposts to receive an email with every new post on Steem or
- Join at http://jerry.tips/emaillist1017 to get an email once a week with highlights!
PS: Would you please make a vote for jerrybanfield as a witness or set jerrybanfield as a proxy to handle all witness votes at https://steemit.com/~witnesses because 100% of the rewards I receive are spent advertising Steem? Thank you to the 1800+ accounts voting for me as a witness, the ~700M VESTS assigned from users trusting me to make all witness votes by setting me as proxy, and @followbtcnews for making these .gif images!