What Is Voting Power(VP) and Steem Power(SP)? How Does It affects An Steemian's Account?
From all the observation and research that I have conducted, it is all now a bit clear to me.
What is Voting Power (VP) and for what reason do I require it?
Voting power can be thought of as vitality. Each time you upvote a blog entry or remark you lose vitality. As your voting power diminishes, your upvotes will be worth less and less. The all the more voting power you have the more your upvote will be worth.
Your voting power is an estimation of the potential your vote needs to compensate another user once you upvote a blog entry or remark. To build your potential (the sum your vote is worth) you should pick up SP (Steem Power). I will give a short definition of SP later on.
- How might I check my present voting power? You can locate your VP and SP by going to these two sites.
When you get to the site you just have to change the @coinbelly with your steemit username
When you get to the site you just have to change the @coinbelly with your steemit username
What is Steem Power (SP) and to what extent do I need that?
Steem Power (SP) is STEEM that has been secured, vested, which means it can't be instantly pulled back to spend.
Steem Power is the thing that gives you effect on Steemit. The more SP you have, the more cash you provide for creators with an upvote and the more prominent the curation rewards you can gain. There is a little 'premium' rate earned by holding Steem Power.
Changing over STEEM to SP in Powering Up. This should be possible by tapping the down bolt by the STEEM in your wallet and choosing power up. 1 STEEM = 1 Steem Power when controlled up.
To open SP and change over it back to STEEM you need to begin a "Power Down" process which moves 1/thirteenth of your Steem Power every week again into Steem (which is spendable) more than 13 weeks. So for instance, in the event that you have 1300 Steem Power and shut down, you will have 100 Steem seven days opened into something you can spend, exchange, exchange or pull back.
The more Steem Power you aggregate the more your upvotes will be worth giving you more effect on this stage. Steem Power is critical on the off chance that you wish to be a fruitful blogger on Steemit. The more SP you have, the less demanding it will be to pick up adherents and in light of the fact that we upvote our own particular posts once we make them, having an upvote that is justified regardless of a considerable measure will influence your post to emerge, getting a more noteworthy number of upvotes.
Tips on how to gain Steem Power.
- On Steemit, quality substance pays. No less than half of the considerable number of prizes that your blog entries get will be credited as Steem Power. By making superb content all the time, you will gather SP and expand the estimation of your upvote. Thus, by making quality substance and winning SP you are putting resources into your future.
- Buy Steem directly from an exchanger and transfer it to Steemit then convert Steem to Steem Power.
What is not so Clear to me is How do Power Down works? Hope Somebody would give me an answer to this one.
You might want to read some of my articles,
- Throwback: How I paint my life at the old days?
- TALKS/OPINION: Is Bitcoin Undervalued? Let's Recall Milton Friedman’s Theory.
- TALKS/OPINION: A Glimpse Of The Origin, Steemit Way Back & Beyond.
- TALKS/OPINION: How Do Some people affect our freedom?
Censorship? No!
Greta post but I think you explained the power down in your post, but you ask at the end
Your rightit is where you can take Steem back from your Steem Power so you can sell ir exchange it if you so wish
For the Power Down Im still a bit confused, what I have explained was the Powerup. :) Thank you for dropping by @tattoodjay!
A pleasure to drop by
You did explain the powering down as well that’s where it takes 13 weeks to change back from Steem poeerbto Steem
Great post very infirmative!
Thank you Skye1! :)
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by CoinBelly 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.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP. Be sure to leave at least 50SP undelegated on your account.
This post has received a 0.63 % upvote from @drotto thanks to: @banjo.
Nice information here. What question do you have about power down? You can also stop a power down that is running as well, and that will keep the rest with you.
Thank you for sharing your thought about power down. Ill do more research about it. Have a great day!
It's simple after every week you get about 10% of your total sp. But I would suggest that to avoid power down ;) #unmentionables.
Thank you for the explanation @taimoorahmad!
A good article, @coinbelly! Informative articles like this are a great resource. I'll probably end up linking to it in a future article if you don't mind.
I’ve upvoted and resteemed this post, and am following you now, too.
I found the link to this article on #unmentionables.
Cheers!
@mitneb
Hi Mitneb! Thank you for reading my post! I'm grateful that you found this article helpful. Also, Thank you for the upvote, resteem and also for follow.
You're welcome, @coinbelly!
Cheers!
@mitneb
This post has received gratitude of 3.84 % from @appreciator thanks to: @coinbelly.