How do you Steemit? Part 2: Delegation - Steem Power

in steemit •  last year

Introduction

This is the second post in a five part series in which I'll be talking about how I 'Steemit'. The topics are as follows:

1. Voting/Curation (Yesterdays post, updated with a section on Comment voting and Bot trailing via Wallets)
2. Steem Power Delegation (This post)
3. Posting
4. Interaction
5. Bid-bots

The goal is to be open about what I'm doing here and perhaps provide some hints to help other users. I'm also hoping there will be some feedback from you guys, containing tips, tricks, and advice to aid the Steemit journey - How do you Steemit?


main.jpg
Courtesy of pixabay.com



Steem Power Delegation


Since Hard Fork 18, it has been possible to delegate, or 'lease' Steem Power, to other Steemit accounts. And indeed, last month we saw the Steemit CEO @ned, delegate a whopping 3.5 MILLION Steem Power to 7 users. More on that post here (right click and open in new tab) if you wish.

steemdDelegation.png
CEO leads the way with delegation

Why delegate?

Delegating Steem Power can be useful for a number of reasons:

  • You may be taking a holiday and wish for your voting power to be used wisely
  • You may want to raise your profile in the community
  • You can lease this SP out and take interest payments on it's return
  • You can take an agreed sum for the hire of this SP for a fixed amount of time
  • You can 'invest' in a Bid-bot that makes regular payments in SP to you during the time of the lease
  • You may want to invest in a community style account which is able to rewards followers of this community directly

A few recent examples of large delegators/delegations include @ned, @neoxian, @demotruk, and @aggroed.

These delegations vary from supporting community growth in largly un-tapped markets ( @ned ), powering up Bid-bots so they can give more/bigger payouts ( @neoxian ) for interest on the Bid-bot income, loaning of SP to individuals for a fixed sum ( @demotruk ), and support of community projects like @minnowsupport ( @aggroed ).

Neoxian Steem Power

neoxian.PNG
Shark? More like minnow!



My delegated Steem Power status

Here you are, warts and all. A screenshot from Vessel ( a desktop client built by @jesta ):


vessel delegator.PNG
Courtesy of Vessel

Allow me to explain who these accounts are, and why I have delegated SP to them.

@boomerang, @minnowbooster, @minnowhelper - These are Bid-bots in which I have a small investment in, to the total of 100 Steem Power. They pay a small amount of interest to me each day:


bidbotdele.PNG
wallet transfers

I also use these bots for my blogs (and sometimes other users blogs) and so delegating SP for a daily interest rate, as well as receiving a larger vote from the Bid-bot is like a double win.

@lovejuice, @msp-lovebot, @muxxybot - These accounts are also Bid-bots, but i want to keep them separate from the above because they don't send daily interest. These are bots tied to the minnow support project, and so I feel like I am supporting minnows by delegating SP here.

@minnowsupport - Not a Bid-bot, but the main minnow support project. This account is used to support minnows up-voting ($upvote) their post in the MSP discord chat, to raise awareness of the project, and to resteem worthy minnow posts.

Within Discord chat, you can see an additional benefit of supporting these accounts. My username is listed in a particular group of users, which gives me a little more visibility - any publicity is good publicity as they say!


discord delegator.PNG
Image from Discord web client on PC

The final delegatee on my list is my girlfriend @osm0sis and she has 500 of my Steem Power. This enables the slider in the steemit.com interface, and hopefully will give her more visibility when voting on the content she likes, which is mainly in the travel and photography tags at present.

So in summary, there are a few reasons for delegating SP. Cash and Profile being the main two, and pure kindness being another. :)


Why receive delegated Steem Power?

More Voting Power! Is the number one reason for taking on additional SP. The account with this boost in SP will be able to give a larger vote of confidence on any piece of work they curate. The account could be:
  • a Bid-bot
  • a Community style account wishing to reward contributors in this particular niche
  • a 2nd/3rd/4th/5th user account to upvote your own work with stealth - BOOO and HISSS.

The other main reason for renting Steem Power is to boost a personal profile by giving greater rewards out to followers. A recent example of this would be @stackin , who leased SP and was able to blog about it along with other motivational work, and reward his followers more. Win, Win.

Renting Steem Power is much cheaper than buying it outright, except it's not yours to keep of course. At current prices, 1000 Steem Power would cost around $1200.

Two weeks ago I borrowed 1000 SP for a month, at a cost of 10 Steem. This has worked out well for me for a few reasons.
  • I've received more than the amount I paid via up-votes to my posts from my 'banker' ( @demotruk )
  • I've received more than the amount I paid via up-votes to my posts from my 'banker'!!!
  • I could lease 500 SP to my girlfriend without feeling the pinch
  • I can lease 200 SP out to other bots/community accounts without feeling the pinch
  • My profile and voting power has increased


How to delegate Steem Power


A short note on what I feel is the best way to delegate Steem Power and keep track of your delegations. The way to go is Vessel, the desktop application by @jesta. Delegation is just a small part of the application, but I find this the easiest tool to use. These excellent blog guides by @jesta cover all you need to get started.

Don't forget to come back and comment/vote after you get engrossed in these guides and Vessel!

Introduction to Vessel (hold 'ctrl' and click to open in new tab)
Delegation feature addition


Other points to note regarding delegation

  • If you wish to cancel delegated SP, the delegation is canceled immediately, but it'll be 7 days before you can use the SP to vote again
  • YOUR COMMENT HERE?


Summary

So this is part 2 of 'How do you Steemit' complete.
Next time: How do you Steemit? - 3: Posts

Please comment below if you have any questions, feedback, ideas to share. This is what the box is for :)

Thanks for reading today

Asher


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Most useful post. Delegation has a been a mystery for me to date. Now nailed down and understood 😊

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Thank you @pennsif!

I hope the post has helped. I think it is useful to know about delegation, especially as the CEO and the biggest account and Bots use this tool to move Steem Power around.

Thanks again for stopping by!

Asher

Thank you for my steem power! I will use it wisely :)

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My pleasure, dear :D

Fantastic post, I've been wanting get clearer on this exact subject and thanks to you I have!

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Great stuff, thank you for checking in and for the kind words :)

Good information! I am keeping this post in my "Howtodo" folder ( @originalworks )

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The @OriginalWorks bot has determined this post by @abh12345 to be original material and upvoted it!

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To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!

To nominate this post for the daily RESTEEM contest, upvote this comment!

For more information, Click Here!

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Thanks Eddie, I'm really glad you found the post useful! Stay tuned for future posts and check out the first post in the series on Voting/Curation if you wish :)

Good Morning Asher, I am very happy to see this post. There are SO
Many things I do not understand about Steemit. In my first two
Weeks, someone delegated some Steem Power to me, and
For a time, I had the slider; I've been wondering how to
Get it back. Alas, I do not have 100 SP to delegate to
Anyone, but I have ↑Upvoted↑ and ←Resteemed
This post for future reference. I am learning very
Slowly about this complex system; it is quite
Daunting, but I remain here, so that I can
Take advantage of the wonderful
Formatting tools and share
My works and Writings.

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Hi Jerry

Thanks for your reply! How do you get the lines of text to get shorter and shorter, very nice!

There is a lot to learn, but it will come as you need it. The key is to keep writing blogs you enjoy, and commenting on blogs you enjoy.

Thanks for the UP and RS too!

Asher

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If you compose your words so that
They first form a right triangle,
Such as this, and then use
The Markdown Styling
Commands for
Center, you
Will get it. .....those commands are < center > < / center >
(No spaces)

If you compose your words so that
They first form a right triangle,
Such as this, and then use
The Markdown Styling
Commands for
Center, you
Will get it.

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Perfect! Thanks for this, i expect to see more users following your lead here :)

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I wish there were a way to 'left align' text, as a mirror/contrast
But alas, there isn't (that I've discovered yet)

OH! and you're welcome Asher ♥

I've received more than the amount I paid via up-votes to my posts from my 'banker' ( @demotruk )

Is that true? Maybe it's outside the range but steemvp.com is not showing me to have upvoted you much recently. My upvotes have been worth pennies in recent weeks.

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I spotted some nice votes on my and @osmosis posts a few weeks back - could be totaling around $8 but what's a few SBD between friends? :D

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@osmosis

Typo? That account has only one comment and I never voted for it..

It's entirely possible I upvoted you before the last few weeks (my vote obviously was worth a lot more in the past...), just not coming up on the tools I use to check votes.

Edit: Found the vote you meant. https://steemit.com/introduceyourself/@osm0sis/hello-salut-xin-chao-hola-my-introduction

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yes a typo sorry - I was worried about this account name and now i'm typo-ing it!

Yes, thanks for these votes, it did aid encouragement early on. Cheers!

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by abh12345 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

This post has received a 5.11 % upvote from @boomerang thanks to: @supastix

@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read the @boomerang whitepaper.

This post has received a 0.52 % upvote from @drotto thanks to: @banjo.

This post has received a 16.67 % upvote from @nettybot thanks to: @abh12345.

Send 0.100 SBD to @nettybot with a post link in the memo field to bid on the next vote.

Oh, and be sure to vote for my owner, @netuoso, as Steem Witness

Have a great day!

Great work. thanks for your post.
1005 like and resteem.

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Thank you @stmit!

This post has received a 15.34 % upvote from @boomerang thanks to: @abh12345

@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read the @boomerang whitepaper.

This post has received a 29.85 % upvote from @lovejuice thanks to: @abh12345. They have officially sprayed their dank amps all over your post rewards. GOOD TIMES! Vote for Aggroed!

Resteem your post to 1500+ followers for only 0.5 SBD or Steem)

Just send 0.5 SBD or steem to @steemvote (URL as memo)

New Followers get 0.001 SBD$ and an upvote for free!!

Just follow @steemvote and...

  • we follow back
  • send you 0.001 SBD to your wallet

This post has received a 28.57 % upvote from thanks to: @abh12345.
For more information, click here!

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond

This post has received a Bellyrub and 10.42 % upvote from @bellyrub thanks to: @abh12345. Send SBD to @bellyrub with a post link in the memo field to bid on the next vote, every 2.4 hours. Be sure to vote for my Pops, @zeartul, as Steem Witness Hope you enjoyed your bellyrub!

This post has received a 4.55 % upvote from @buildawhale thanks to: @abh12345. Send 0.100 or more SBD to @buildawhale with a post link in the memo field to bid on the next vote.

To support our curation initiative, please vote on my owner, @themarkymark, as a Steem Witness

Good useful information !

This post received a 4% upvote from @randowhale thanks to @abh12345! For more information, click here!

owo thanks for this....

This post has received a 100.00 % upvote from @upgoater thanks to: @abh12345. Please vote @swelker101 for witness

Thanks for the information sir.

Very informative again, able to learn about how delegation works, thank you.

thanks for shereing..... greattttt

This post has received a 3.40 % upvote from @booster thanks to: @abh12345.

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond

Very nice post. I think the delegation concept is a very good feature to Steemit. Thanks for the in-depth view of how it all works.

Nice to see @Ned doing an incredible part in helping this community grow!

Upvoted and Resteemed!

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@photobomb

Thank you very much, I've only just found your profile today and will be using your services from now on!

Most helpfull post bro i am wanted that someone delegate me a steem power
is that any ways could i get sp ?

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I think you can get some SP at https://www.minnowbooster.com/

Thanks!

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they are so expensive bro for new user