You are viewing a single comment's thread from:

RE: I want to buy $ 1000 of steem ! But but I do not understand this would give me the power to vote?

in #steemians6 years ago

You will be able to vote, comment and post more times. Your votes will carry more power (worth more dollars) so instead of your current vote being worth $0.001, you will be able to give votes worth $0.2 and you get to choose how much of a vote you like to give each individual post using a slider from 0% - 100%

Think of this as a deposit of money you earn interest on. The higher the deposit, the more interest payment you get. And these interest payments are used for the votes and your activity. That's why when you vote, you don't actually lose money but you gain money for your curation (gain other peoples interest payments). All the interest payments are coming from the current inflation of the currency. Basically more coins are created from thin air.

Once you power up and your votes are worth more. You will starting getting paid more for curation. As one of the factors of curation rewards is the power of your vote. There are many other factors as well.

Each comment and post you write is a transaction (data transaction ) which costs money. This is also paid by your interest gains. For example, as of your funds now, you only have 15 comments left to make until you reciever your next interest payment which happens every few days.

Just remember that this is a risky investment. And once you power up, you can only withdraw your money in increments over a period of several weeks. I believe its a great risky investment.

Posted using Partiko Android

Coin Marketplace

STEEM 0.19
TRX 0.16
JST 0.031
BTC 61744.65
ETH 2678.63
USDT 1.00
SBD 2.59