My journey to the 1 comma club and beyond on Steemit & why I am leveraging the power of "powering up"

in steemit •  2 years ago

Hi ya'll!

Just thought I would let you know that I am now close to 3 digits with my Steem Power, I currently have 97.459 SP and my #1 goal here (at the moment) is 100.00 SP.


I am a long term investor into #steemit, and as such, I will be converting all of my SBD into SP so, for me, hitting the 3 digit mark in Steem Power is a massive milestone for me to reach!

I also think this article by @rem870man sums up nicely my thoughts on investing heavily into SP via conversion of SBD, and powering up into Steem Power!

See that photo up there^? That is me, on the road to reaching my next #steemit milestone of 1,000 SP. But @darknet how in the world can you be so confident? Magic...

The Power of Compounding Interest

This guy knew a little bit about the power of compounding interest. I urge you to consider its power as well.

There is even more magic in the power #steemit and SP. Not only do I receive interest, compounded on my SP daily.

I also receive a larger share of authoring and curation rewards. So you could say that the effect of compounding interest, within #steemit is multiplied

I am quietly confident, through the power of compounding interest, that I will make the 1 comma club in SP. My next milestone, is 1,000 SP. I intend to reach it via curation, authoring and deposits. Powering up the entire time.

Through the power of compounding interest, I can even look into the future.

This post, is definitely in my future...

I just joined the 1 comma SP club on Steemit

Otherwise known as 1,000 SP. I (very much) look forward to writing that post.

As a simple example as to the immense power of compounding interest, take a look at the chart below. It shows what happens, when you invest $1000 and use only the power of compounding interest on an 8% annualized return to increase your wealth.

Although, in the above example, it would take a long time to realise significant gains, just remember, it only started with $1000. There is nothing else at play there other than compounding interest. Imagine you also added $100 deposits, here and there into that chart. That is where things would get really interesting.

Just as important as reaching my milestones, I think it is as important to be enjoying the journey! If you have any questions on why I am "powering up" all of my SBD I earn from authoring and curating, feel free to ask in the comments, I will happily answer them for you all, to the best of my ability.

So, start early, start yesterday, start today.

The best time to plant a tree is 50 years ago. The second best time to plant a tree is today.

Kind regards,

If you are interested, you can read my other investment decisions I am making in 2016 here.

#steemit #steem #money #mathematics #investing

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can't wait until i hit 500 sp! lol awhile to go yet


Hey nice, looks like you have already hit the 3 digit milestone though! Nice work. Now, how about you and I have a race, and see who can make it to 500 first!? :P Followed. Let me know when you do, vice-versa. Nothing wrong, with a little bit of healthy competition. But be warned, I just read this post by @jaredcwillis ;-)