STEEMIT Newbie Guide: How NOT to Waste SBDs
I taught you about maximizing your rewards, now it is time to tell you how to minimize your losses.
Today I thought you would like to hear of three ways newbies just WASTE their SBD (Steem Backed Dollars a.k.a. Steem Blockchain Dollars).
There are three ways that are unfortunately very common, and so I need to make the newbies who follow me aware of them.
Some of them are simply things that may seem a good idea at the time, while some are outright scams.
If this is something of interest, then read below.
Don't Buy Resteem Services: Think About It!
The first thing I have to mention is what newbies know as "Resteem Services" and what most people know as "trash bin where you can throw your hard earned SBD at for some placebo effect to be felt in your belly". Cof-Cof
There are many resteem services throughout the blockchain, and many of them show you dozens of thousands of followers!
Well, think about it... why should you offer an inexpensive resteem - like 1SBD - for thousands upon thousands of followers if you could bank a ton more by publishing even just a cat picture with the words "gibe moni plis".
If it looks too good to be true, it is.
I know some newbies who spent their entire hard earned rewards on these things, and they came out frustrated and empty handed.
Of course, all of those followers are mainly inactive accounts, bots and dummy accounts - they won't interact with your artile.
Plus, even if they were real people, the flood of resteems is so intense you'd get sunk before you get any clicks.
Don't do it - or do it if you believe it, but let it be known @spiritualmax doesn't endorse that choice :D
Don't Buy STEEM at the Wrong Moment: When in ATHs!
This is a mistake that can be avoided at times, while at some others it just can't be helped.
Let's face it, none of us can predict the market 100% of the times or we'd all be rich.
On the other hand, there are times in which seeing that the number will wobble to lower values is easy to see.
When you go to the internal market, you see this:
These are the sell and buy orders for Steem and SBD.
If you buy STEEM you sell SBD, if you buy SBD you sell STEEM.
You can also see if there are way heavier amounts on one side or on the other. Plus you'll see prices and you get to set buy and sell orders.
Sometimes, it's better to let prices go down, which means avoiding buying Steem with FIAT when you see it's at an ATH (All Time High) or when the SBD to STEEM ratio isn't favorable.
Of course, sometimes the market is unpredictable, but some other times you can see if there will be a correction soon based on the numbers here - it takes a little bit of practice though.
Don't Buy Votes in Steemit.Chat: Identity Theft Warning
Finally, I want to warn you all for an ongoing scam going on in Steemit.chat.
@rok-sivante wrote a post about this scam which you can read here: Rok's Post
So, basically speaking, what happened was that a user was on Steemit.chat taking on the identity of @rok-sivante. His name on SteemitChat is Sivante while the scammer took the more known name Rok-Sivante.
The alert was given by @centauri-alfa:
Well, Rok has a great vote, so it's natural people are interested in it.
The next time someone offers to sell you a vote on Steemit.Chat, run away - it's a scam.
There are way more profitable ways to sell votes here, such as SmartSteem and services like those, so Rok wouldn't sell his vote for 1SBD, and neither would the other orcas, whales and dolphins.
As you see, there are a lot of creative people after your SBD.
If in doubt, don't act harshly and ask a friend or someone from Steemit you trust if you should do it or not.
Heck, I'm here, ask me!
Cheers!
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@sprirtualmax
Great warning tips to avoid your SBDs from the various pick pockets (Wallets) that float here and there, I am going to start blogging, I've really just been Curating until now, with few posts.
What do you think of Minnowbooster, etc to put your SBDs in?
Your thoughts?
Lynn
Hello Lynn.
Minnowbooster is a good service to boost visibility and get the ball rolling.
I would also advise checking @therealwolf's smartsteem.com
They are the same, but the difference is if you put 3 SBD on Minnowbooster you get a $6 upvote, while in @smartmarket you get $6 worth of upvotes, can be from more than one user. The amount is the same, but smartmarket spreads out the vote...
So it's up to your preference.
That‘s not exactly true, from minnowbooster you receive 250%(or little bit more) and from smartsteem „only“ 200-215%, but I also use both and do like both!
Well, it's practically the same... maybe you're right.
I never noticed it myself.
But yeah, I use both.
Cheers
Cool, I will check out @therealwolf and see whats up. Spreading the vote around, sounds good.
Graditude.
Lynn
Using websites like https://steemd.com/ and https://steembottracker.com/, in conjunction with guilds or steemit content groups, look to follow and contribute to trending users that produce the kind of value that you can invest time spent on your blog to making some real earnings.
Either of those sites can help you find and track sources of actually making an income online Steemit. Here's to the new wave.
I agree!
Cool!
Ok I did newbie mistake one of using a resteem service when I thought my post was good.
To add more salt to injury I also did the promote post on the right side. Paid for it in 3 SBD and I didn't even see it in the Promoted section unless I scrolled down about 30 posts. I would have been better off having that boosted.
Newbie mistake number two from some of the earnings from airdrops I got some nifty Steem but a few days later it dropped to an all time low and so well learned my lesson.
Thank God I don't hang out in Steem.chat so not guilty of Newbie mistake 3.
2 out 3 hope Sarge doesn't see this or else I am going to do push ups and squats ahha.
I'm gonna call him on you @minnowbootcamp :D
Hahahahahaha, such cruelty! :P
Simply great advice and noting the blaring obvious to some, this information is valuable to other seasoned Steemians to really focus in on what exactly goes on here: individuals producing and sharing highly novel and original content online, not to mention earning a solid return at it for EVERYONE involved.
What's there to lose?
Enlightening post here.
Thank you for sharing!
Thank you very much for stopping by Craig.
Glad you liked it and that you see the power of Steemit.~
There's nothing to lose!
Cheers
In other words do be greedy before you learn all there is to learn about steems, it seems complicated as hell.!
@spiritualmax do you have a dtube channel? A slow learner like me would benefit greatly learning all the above and last post lessons with visuals.
And, is there one good bot you would recommend. I am a person of habit that likes to concentrate on one thing.
Thanks alot for this.
Bless up!
As far as bid bots, I would recommend @upme and @buildawhale.
On the voting bots, I'd recommend either @minnowbooster or @smartmarket.
For vote selling, I'd recommend @therealwolf's smartsteem.com
As far as the DTube Channel... that's actually an interesting idea man, publishing a video in between articles could be a good thing to me.
Cheers
Nice article. I've been just trying to watch & learn as much as I can; I'm much more of a kinetic learner. But it's nice to read your article in actually easy-to-understanding terminology for us new to all of this.
You're the man, thanks again.
If I would make DTube guides, would that be something better for you?
When I said "watch & learn" I was referring to watching the markets. But, if that's something you've been considering, I'm certainly not opposed to it :)
Wow this articles helps me alot. It enlighten my mind on what to do in steemit. Thanks for this article it's really a big help for people who is just new in steemit like me. Looking forward to your next article. I hope you will post next time on how to make many followers on steemit.
Make quality content and comment a lot, like 30 times per day.
Then repeat this every day.
You'll grow :D
@spiritualmax:
You really think commenting is that important?
At the moment I'm only commenting 1-3 posts every day, so i should increase that? :)
And could you possibly check out one or two of my posts and tell me if they are good enough? cause I'm not a really good writer to be honest :D
Hello there,
Commenting is vital for newbies... newbies often make lots more money and followers from commenting.
On my first week, I commented 100 times per day.
Finally, I checked your page, the articles are OK, but quite short.
Cheers
Okay thanks, thats very good to know!
My university semester is over tomorrow, after that I will have quite some time to spend on here commenting posts which i find interesting.
Thank you also very much for checking out my posts and giving me feedback!
What do yo mean dude? Please elaborate further hehehe :)
I have the same opinion about resteemservices as you, if they resteem hundreds of articles per day, how should that help you?
And the other 2 points, well yes, buying at ATH‘s is never a good idea and making deals in chatrooms neither.
Good post, will read in your previous ones now as well! I‘m sure they will help me :)
Yeap... don't buy candy from an alley kids!
Hehehe
Thanks, see you around mate!
Thank you for that valuable information, till now I didn't use any of them :), luckily you wrote this article before I do.
By the way, do you know some folks for upvotes with higher RIO than minnowboster ?
Thank you
Bid Bots are the only thing with potential to be higher than minnow booster, but they are also more dangerous as you can also get losses.
Actually, bid bots aren't a good deal, the demand is likely more higher then the supply!!!!
Thank you for your promt answer :)
For me, they are the best. You need to do some math and hang out on @yabapmatt's bot tracker though.
A great post like always! Thanks Max.
And the bots? I know everyone uses but can be this a problem in the future? Something like Buy Links to improve the SEO.
What do you think?
I don't think they're going to be a problem as the market self adjusts... but they can cause inflation in the long term.. .but again, the numbers adjust.
Hum... So in your opinion, the bots will disappear?
I think that the bots are a problem... For example, If I was rich I could pay 200$ to boost my post and get more attention.
Am I right? Maybe I'm thinking wrong...
The bot's won't disappear, but their profitability will diminish over time as adoption takes place and the rewards decrease.
Same reward pool, with more users, less income.
Yes, you could, but only quality would endure high values, else the community would flag you. Try posting a gif and pay $200 to boost it to $400... Then watch what happens to your account next.
Hum... I didn't know about that. I thought their profitability was going increase. More user more money... Well I was wrong I see :/
More money because the tokens are going to increase in price...
it's a complex matter... you should talk to @eonwarped about it.
Ok. I will do it! :)