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RE: My First Cash Out on Steemit - Motivation Blast!
I'd strongly recommend forgetting about cashing out to be honest. The return on your investment if you invest back into powering up is a much better decision.
I disagree. Yes, the return on investment COULD be huge. It could also be nothing. I'm optimistic STEEM will continue to be successful but success is never guaranteed. If you can't cash out part of your earnings then what is the point of it all anyway? You should definitely keep your steem power rising and not power down but I think you should do whatever you what with the SBD you get from the 50/50 split. Spend it all, power it all up, or somewhere in the middle. Earning money is useless if you can never spend it.
I think when you do research and look at it over the course of the next year, powering up is a much better decision than taking your SBD out. The compounding effects alone will
give you a better return that withdrawing it to fiat.
You'll certainly be better off if the price goes up. But I'm sure that different people doing research could come to different conclusions. Personally, I keep most of my SBD as-is but I occasionally power up a little and occasionally spend a little. Like I said, if you aren't going to spend what you earn there is no reason to earn it. I've never powered down and don't intend to any time soon unless I need money for an emergency. I don't withdraw unless I intend to spend it so it isn't about returns when it comes to converting to fiat. It's about spending it or investing in something else.
There's also the fact that some people actually need the money they are earning here. There's at least one guy here living off of crypto and I've seen a number of people around the world using earnings to pay for medical care or to help people in various ways.
I'll bookmark this and see where we are in a year.
Such a wonderful comment! Both of you really have a point. Hats off for dropping by my page sir. Its always nice to buy a bit and sell a bit for the volume of SBD/Steem to increase. If most of us will be very active here and at least investing from our pockets some few amount of $$ then we are helping out steem to surge in value. I will not be a hypocrite if I will say I don't need money so I don't have to cash out. I stated here that I made my first cash out is always meant to be enjoyed. Therefore I have enjoyed it. I don't have any regrets doing this first cash out but then it is really nice to at least really hold them because of the value dropping.
EXACTLY, and although we have not iterated all the rules YET,
POWER-DOWNS ARE FORBIDDEN IN MBC!
If you want to stay in MBC that is... We are still working on the rules of the outfit, but the officers and I are working hard to help everyone BUILD an Account that will make some REAL MONEY, and as an example, I busted my a$$ and put in BTC, ETH and bought as much Steem as I could around $1 and it is paying off. I am reinvesting these funds back into the community, and as far as my plankton and minnow friends in MBC go, cashing out now is just cutting future gains. We have not discussed what to do with SBD's earned, but I have not even cashed out a single SBD. I have bought votes from bots, but that is an investment.
I STRONGLY DISCOURAGE CASHING OUT, AND STRONGLY _ENCOURAGE _ POWERING UP ALL FUNDS. Removing one SBD now is like losing 100 SBD in a year... trust me in this!
Thanks for starting the common sense, @calumam, and @fycee I hope you see this, I will reply under your post also... @eaglespirit will be here in a bit to give her 2¢ so prepare yourself ;)
We HAVE STATED THE MBC Group policies, and therefore people will be KICKED and BANNED!
These rules are pinned in the group and have been brought to everyone's attention. The Officer's will have to check everyone's account now and if you are caught, do not scratch your heads and wonder why ... BYE BYE!!
Officers of MBC.
@minnowbootcamp
@anjkara
@eonwarped
After speaking with @fycee in our community group BuddyUP, he made it clear to me that selling SBD wasn't intended for the purpose of getting the money.
He was demonstrating that it CAN be done and it is possible. I understand his reasoning and I believe it's a smart move.
He is showing people the potential money he can make.
Although I totally agree with @minnowbootcamp, the value of STEEM in a years time will 10x at least with possibilities of it nearing 100X. Just depends entirely on the apps, people and publicity that STEEM gets. Regardless, if you want to power down or withdraw SBD, I don't have any judgements, it's your money.
Hello there @calumam , Thank you so much for backing me up. I will try to be honest. I will be very hypocrite if I would state here that I do not need the money and just do steeming for fun and powerup purpose only. Yes, holding steem and SBD is clearly gonna be in the moon after quite some tome. I have a few lines here when I encourage some people to Take Steemit to the moon and act like whales already.
I have just had a realization that the volume of iinter steem blockchain is a determinant to pump the exchange price of SBD / Steem to fiat. It is also the same thing as trading to other altcoins. Though the PRINCIPLE that we should always have is to hold steem/SBD because it will soon have an unimaginable price that will surely bewildered all of us, WE also need to trade a few of our SBD/ Steem to other altcoins (therefore, a cash-out would most likely be the result) It also adds up to the volume of SBD/steem being exchanged to other altcoins. with this, I am happy that you do saw the goodness inside my heart that I just really wanted to share OUR WORLD to my fellow empowr group that it only takes a week before we could realize our fruits of our labor. In which it will never happen in the previous blogging site where we put our efforts much but haven't received a cent in my one year being active. I also reach out to every newbie and motivate them that we do have found a great way to end poverty! - I mean it! I claim it will happen man!
#minnowbootcamp , I am ready for your verdict. I just hope this will not affect my reputation and our fellow members will just let it pass and just move on. If you needed to be really stern with a not yet - iterated rules. I am pleading to give me another chance and this will be my last cash out - let's say the next one will be in a year. A bootcamp is always stern with the rules. But still considerate with the members as long as you really deserve to be immersed with the team. Thank you everyone!
hi there, the title is "my first cash out," LOL
so how is that just the possibility. according the MBC he stated fycee was not yet in the MBC program so that makes this entire convo moot. However, it will be stated that once one is in MBC there is not cashing out or just do not join the program. exactly regarding with what one does with one's own money, however OUR program does not allow for the cashing out.
Can I just ask, what is the purpose of setting a rule like that? Do you take responsibility for the financial decisions people make?
Just wondering.
so the MBC is a program to assist people to make it to 1k sp. do you know about the program itself? that may be the reason for your confusion. it is not a matter of people cashing out, it is a matter of people putting money into a pot and to keep cashing out instead of reaching 1k sp. does that make more sense?
I understand the incentive yes. Do you guys teach your members how to create quality content?
that is a very good question. this is a subject another officer and i have discussed many times with @minnowbootcamp and we are trying to get the ground rules together and then focus on the content. that is something of a big deal with me, as i prefer original, raw and fresh content on steemit. there is a lot of plagiarism and shit posts going on and i would prefer this program to have a reputation for quality.
We are doing a lot of work to help people build a Steemit account, First and Foremost. If they do nt want to participate in the Full On Boot Camp program, there is the MEPS Program where we allow them to stay in, work with us and benefit from our vote-sharing programs and still cash out on occasion. We have limited space atm and just believe that our efforts would be better directed to help the small fishes in the system become Larger. Our rules are actually less stringent than most of the Minnow Programs out there. MANY/MOST will not let them use Bots nor Delegate SP to Investments/friends. Both items can be very beneficial to the new Steemians in Growth. We allow BOTH. What we do not allow is the things that are Detrimental to Growth. If I have a Boot-Camper come to me and say "Look, I have this or that need in my life, and it is financial, I need to cash out" Well, Guess what? They can temporarily move to MEPS and do their thing. We do not kick them out. But we need to know, and this is all in writing now. I could see from the post that Fycee was basically making a Proof-of-Concept and he is not actually enrolled in really ANYTHING yet, so This was just a wake up call for all of us. I'm actually glad we have this opportunity to set things straight before the fact.
I am sorry if I have broken any rules stipulated by the team.
I will still be a very happy steemian who was able to prove that steemit is a great platform to earn from your efforts!
we are figuring out what to do and make sure people understand the MBC rules. according to MBC you were not yet in the program so no worries. however, if you choose and are accepted into MBC then that would be something to consider. sorry for the confusion! :)
Hi there @calumam , so happy you were able to drop by a post that would mean a lot to me. Yes definitely you are right, knowing for a fact that this site is already legit which a proof is unnecessary. Deeply thankful for your advice. Definitely acknowledged. I have done it so that I will be able to spark the motivation level of EACH newbies that I encounter and also a way for me to get really motivated. Do you think a person will just trust a site like that if MOST of what we see on the net is all scams (I repeat... "MOST")
A better decision is always THE BEST ONE if it comes from the heart. Statistics and recommendations from trusted people are also a great basis. Though if your decision has turned out to be what makes you happy then the feeling is insurmountable. Have a great day ahead. More than glad to be a part of #BuddyUp and will prove myself worthy to be paired up with anyone. Kinda excited with it though.
See my reply to @calumam please...
Is cashing out forbidden in minnowbootcamp ?
Yes, but not the MEPS group.
If you join after this UPROAR I started, you will be fine.
I apologize for sending my Captain after you, I was looking at the records and stuff trying to figure it out! I knew we talked about joining, I had to look thru ALL the records of screenshots LOL
You are still in the discord, same as before. I do not blame you if you decide to not join, but it is open.