How to Delegate Steem Power and why I am finally giving in!

in #steemit6 years ago

For the past months I have been critical on people who use/delegate their Steem Power to bid-bots and vote sellers. I'm not gonna lie and go ahead and say that it was probably my jealousy overtaking at how they are able to accumulate and earn SBD/Steem passively fast compared to someone who writes "decent" quality content once per day.

But last week, after learning about these Dust Threshold thing, I just can't help myself to do the same thing as them, that is delegating to a community or a bid-bot in order to accumulate as much as Steem Power as soon as possible.

Anyway, the gist of the said Dust Threshold is that:

Currently if a post/comment earns 0.001 to 0.019 SBD worth of rewards - this is rounded down to 0.00. If a post/comment earns at least 0.02 SBD - then they receive their reward.

As someone who have little to few followers, I mostly upvote every comment I get on my posts as a way of saying thanks and in order to encourage them to come back and read my future blog posts. However, after knowing that my $0.015 upvote will soon be turned into dust($0) after seven days, it seems to be unfair and frankly deceiving to my followers. So I've finally decided to try delegating in order to accumulate more Steem Power fast so that my vote will be above $0.02.

So, How to Delegate Steem Power?

There are many ways on how to do this, but today I am just gonna list the three most favored ones by most users:

1. Steem Connect

Probably the most well known way to delegate as it only requires you to copy the link below and replace it with the corresponding details:

https://v2.steemconnect.com/sign/delegateVestingShares?delegator=YOURACCOUNT&delegatee=THEIRACCOUNT&vesting_shares=X.XXXXXX%20VESTS

So if you want to delegate 500 SP to me, all you have to do is replace the delegator with your username and set delegatee to jlordc:

https://v2.steemconnect.com/sign/delegateVestingShares?delegator=YOURACCOUNT&delegatee=jlordc&vesting_shares=1018580.95%20VESTS

Woah woah where did those numbers come from? Remember that delegations are sent in vests which are calculated using the following equation:

(1,000,000 / steem_per_mvest) x Desired delegation in SP

steem_per_mvest is not constant but can be found at https://steemdb.com

Filling up values in the formula above:
1,000,000 / 490.879) x 500 = 1018580.95

Going through the link, youl'll see that our calculations are correct. All that's left is to login through steemconnect in order complete the transaction.

2. SteemIt SP Delegation Tool by @justyy

Math is Hard! Thank God witness @justyy made a very easy tool for delegation. All you have to do is fill up the form along with the desired Steem Power you want to delegate. That's right, no computations required.


3. SteemBot Tracker Delegation Manager

SteembotTracker is not only for placing bids on upvote bots. There are also some other useful tools you can use there, one of which is their Delegation Manager. Not only is it solely for delegating, but it's also for checking, updating and even removing delegations you have already given to someone.


And there you have it! That's how easy it is to delegate. If you have SteemPlus installed, a delegation button is found on the wallet section. Also remember that if you want to add more into your delegation, you only need to input the overall desired SP. Say, if you have already delegated 100SP and want to delegate 400 SP more. You need to put 500SP(the total), not 400SP(the additional). Undelegating simply means to delegate "0/ZERO" SP to which you can only use or becomes effective after 7days have passed.

Also notice that almost all the procedures always ends up using SteemConnect, as it is one of the most secure and convenient way to do this.

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Your SP is yours to use as you see fit to do so.

I'm all for people here making money and growing their accounts. The underlying system works the way it does and leasing sp is a rational business decision. Those in a position to do good with their sp have my admiration, but also do the guys that are trying to make money while operating within the limits of good taste.

And there you have it, my unasked-for-seal-of-approval :-)

Cheers!

Thanks! Also to clarify this post is in no way an attack to people who have leased their SP or sell their votes. In fact I think that what they are doing is a smart move as long as they are "operating within the limits of good taste." :)

Also Cheers!

I was suggested not to upvote at less than 0.02 but I didn't know why. Thanks for your good post. With this dust threshold in place, I guess over 90% of upvotes are in fact meaningless. (Pls don't upvote me then. Reading your post is already a good reward to me :)

Hey Thanks as always! :)

It is also worthy to note that they round up, $0.016 will look like $0.02 on steemit and other platforms but is still considered dust. A safe upvote would be around $0.03.

The upvote by a newly opened account (default 15 SP) worth only 0.003. In case of adding up 10 similar upvotes at a single post, does it means a total of 0.03 or all upvotes counted individually as dust? It is interesting to know...

Calculations are done at payout, so Total payout of a post/comment must at least be greater than $0.02.

Oic. Steemit is a never-ending learning. Nice to have you as my buddy. Keep in touch :)

Will sure do :)

I don’t have enough sp yet, currently I only have 2.19 something like that.

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