Why I am Powering Down, but I still Believe in Steemit
It's quite common, in the Steemit community, to think that powering down is somehow wrong, and it means not trusting and investing in this network.
Many users write posts about their intention to power up (or to keep their Steem Power), to show their trust and will to invest in Steemit.
I am currently powering down to fund my trading account on 1broker
This doesn't mean I don't trust Steemit, I still believe in this platform, and I'm just using one of the Steemit features, which is Power down, and it's really great for me to have Steemit helping me to fund my trading account.
Since my experience on the internet, without doubt Steemit is one of the best communities and social network I ever found: enthusiastic, collaborative, creative and free from censorship.
image from @kingscrown Steemit post here.
About 1broker
The cool thing about this exchange is that you can use bitcoin to trade stocks, commodities, forex, and even crypto.
Spread is quite low (except for BTC, the only market in experimental mode), leverage goes up to 200, it's easy to see in realtime how much you're earning or losing.
You can start without needing to certify your identity, and you can start trading with 0.01 BTC (unlike other exchanges like simplefx, which requires a minimum of 0.34 BTC to trade).
If you want to trade yourself, you can use my referral link to subscribe, it will help me to get some referral earnings and it has zero cost for you!
Very good post and I planned to write smth like that. I also powerdowned not because I don't believe in Steemit as I believe as crazy in it.)) But I just need money. And I noticed after power down you get less votes or it was my imagination?
Same problem here, I needed to fund my trading account which was quite tiny, and I am very grateful to Steemit for this huge help!
About less votes, I don't think it depends from the powering down.
Ok, good news...I just noticed as soon as I started power down I got less earnings and as soon as I stopped it earnings increased...but probably just coincidence
Powering down means having less steem power, and it affects total earnings, but not the number of votes you get :)
yes, I know)))...I meant different...can people with high SP stop voting your posts if you started to powerdown
Great post! I'm fairly new here and still "steeming UP!" Learning the ropes........
Thank you so much. If you're new, you better steeming up for a while :)
Thanks for introducing the platform. I knew about simplefx but this one also looks good. Any idea about which one is better? (apart from minimum fund to start)
BTW, if you are starting on STOCKS, take a look at Alibaba INC. Looks like in a good position IMO
I didn't use simplefx (but there is a demo mode there, maybe worth trying just to get an idea about how it works).
About stocks, I trade quite often BABA right on 1broker just because it's really volatile and very aggressive!
Thank you so much for your feedback
I wish you more than the best with your project and hope to see you at steemfest again 🌺
Thank you so much!
I didn't come at steemfest, hope to come next time ;)
Upssss I mixed you up with another. Forgive me 🙉 Steemfest is a must! It was great!
There is a workaround when you need money. Use the SBD to fund other ventures. It's not as effective but still something.
Thank you for your hint!
Very true. Most people think it's bad to power down but one can have many good reasons to power down. How does it work exactly? You get the same amount every week for 13 weeks, right?
You get your steem power turned into STEEM and SBD, they split your steem power in weekly payments, for two years, so you get about 100 weeks to take all the money out
Thanks. I did not know it takes two years. This might be a reason not too many people are powering down.
All the best in all that you do @andrew0
Why not open an account on Bitshares. If you do p.m me and I'll send you 100 BTS so you can trade there too. I use the light wallet. AWESOME
Thank you so much my friend!
I have some BTS already on Poloniex, is it the same?
Yes indeed. The Bitshares trustless exchange is awesome. Go ahead and get the wallet. As I said i use the light client. Give me your username and I'll send them to your wallet.
https://bitshares.org/
https://bitshares.org/wallet/#/
https://bitshares.org/wallet/#/market/USD_BTS
Thank you so much!
I am grateful of your support :))
I will PM you when I've registered
What I do not understand is why you do not just take the 50% you can have in liquid payout and use that to fund your trading, and leave the other 50% in Steemit?
Some people choose to earn 100% steem power because of VESTS that comes with it.. If I'm not mistaken. You get more rewards the higher SP you have.
You are avoiding my question. Why don't you leave SP and take 50/50% payout on posts you collect rewards on? Powering down is in the end taking all rewards the community gave you and move it out of the community. You also decide to have no power left, but you still say Steemit is great! That conflicts I think IMHO.
Hahaha.. I think I understand where you're confused.
There's actually more than one way to earn on steemit. Writing, commenting, curating, witness and mining. So we leave the latter 2 aside and focus the first 3 that everyone can easily do.
Writing - as you post stuff, you get upvoted and you'll earn rewards. However you can choose to whether 1) get 50/50 as you said, 2) 100% SP, 3)decline payment. Each has its own purpose and its totally dependent on whats your end point
Commenting - Commenting gets you 50/50 by default, you can't change that. If I'm not mistaken.
Curating - curation means you get a reward by upvoting what everyone else is upvoting before they do. It's designed so that you'll have curators in the steemit ecosystem that seeks out hidden gems in all the steemit posts.
The more SP you have, the more rewards you earn. This is especially true when it comes to curating. In fact 20% of new minted steem goes to curation rewards (pls correct if wrong). So that's a huge source of income.
And so to many, writing is just part of the steemit game. As everyone should aim for higher SP. And the fastest way is to set posting reward to 100% (otherwise your steem and SBD just sits there not making you money!)
So yea.. I'm sorry if I wasn't clear in the last post.
By the way I'm running a contest where you stand a chance to win 10SBD!
Link is here https://steemit.com/steemit/@awesomianist/asksteemit-what-s-one-thing-you-ve-realized-that-changed-how-you-think-forever-up-to-20-sbd-prize-pool
Thanks, didn't want to enter at first, but eventually did enter the competition :)
I am just taking away some of my earnings not because I don't believe in Steemit but because I need them. But I will keep on posting (it refills my steem power) and I will stop powering down when I have enough money to fund my trading.
Hope it is clear to you now :)
Well, no angst from me here! I don't see anything *wrong in powering down because after all of Steemit can fuel our finances and give us freedom. Why not!
*edit sorry for "pour grammer"
yep! it's just a feature we can use, sometimes very useful.
If you power down and do nothing with your steem after time you will be left with lower steem power over all. That's why everyone is so keen on telling people to power up as much as possible.
The virtuous effect of powering down now is that STEEM is rising and BTC too, so when you sell steem to buy bitcoins, you have a great increase in USD/EUR value.
Of course my idea is powering down while keeping to post contents, to refill my steem power and eventually stop the power down.
Thank you for your feedback! :)