''The true Art in Giving'' when making the Decision to give away or Delegate Steem Power to a Good FriendsteemCreated with Sketch.

in steemit •  last year

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Since Hardfork 18, Steemit users have the ability to Delegate Steem Power to another account as part of an implemented feature. By delegating you’re essentially choosing a proxy by entrusting responsibility to a person, who in return makes full use of any delegated Steem Power

This let’s someone make full use of your Steem Power, but you’re still the one at the end of the day that controls the delegated Steem Power, essentially Vested Steem that has been delegated.


Why would anyone delegate Steem Power to someone else’s Account?


There are assumptions that you’re not getting anything by delegating Steem Power, because you don’t earn any Curation Rewards while allowing someone else to fully utilize your Vested Steem. You do however have access to your delegated Steem Power but you’re technically letting someone else earn rewards accumulated from active upvoting

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Should I delegate Steem Power or give it away as Charity?


You can’t really compare both scenarios; giving away free Steem Power or Delegating Steem Power since both are 2 very different options

Essentially you have still have access to your Delegated SP and may revoked any Delegated SP at any given time (there is a waiting period of 7 days)

A Proxy is someone who has the authority to represent you, especially in voting. In Steemit's Case, they aren't voting with your Account hence all the upvoting is not done on behalf of you. You don't get to earn from delegating Steem Power because all of the Curation reward are accumulated via the choosen delegated account, who also takes full credit for all ''Upvotes" that could have been made with your Account instead and for spreading the Love (a.k.a Steem Distribution)

Since users are allowed to delegate their votes to a proxy who votes on Posts & Comments, individual Steem Power holders are also free to withdraw their so called delegated Steem Power from the proxy if they feel the proxy is voting against their wishes.

When you give to Charity, you don’t expect anything in return!

A user may only receive a fix amount of delegated SP, however Curation Rewards are subject to change so a Proxy has the potential to earn Steem Power & Steem Dollar as an incentive for upvoting quality content! This drives a proxy to fully utilize any delegated Steem Power, as they have the freedom look for interesting Posts and Comments to upvote


When should I Delegate Steem Power?


Perhaps you classify yourself as a so called whale or someone with lots of SP and let’ assume you have a few trusted friends or relatives who are also on Steemit. So let’s say, you decide to get out of town and won’t be active on Steemit the following next 2 weeks, making you unable to stay online on Steemit

Delegating Steem is not Charity but you're going to make someone feel appreciated and happy!

When I just created my account, I received some Steem power from a couple of accounts to which I'm grateful to till this very day.

With this feature there are many possibilities, some examples; you could techically consolidate multiple accounts into one strong voting account (maybe for a company or Curation Guild) or a user that was inactive could delegate to someone they trusted to essential contribute back to Steemit by using their delegated Steem power to make stronger upvotes to those Content producers that deserve the reward

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You want them to be able to vote using your Vested Steem, that would be a reason you would delegate Steem power. Perhaps you have a good friend or spouse who recently signed up and they are lacking the necessary power to really effectively use the service, this would also be a good example of when you would want to delegate Steem power. Wy not let someone make active contribute to Steemit's for the sake of the Community as good Content get's rewarded while the dedicated Proxy earns from curation rewards for their efforts

There are people with large amounts of SP who are renting their Steem power out and making good money. The possibilities are endless, but as of right now Steemit could use a lot of growth and support from it's users! Delegate Steem Power that is not put to use to someone you entitle this responsiblity to. Expecting them to make the right choices, this will in return grow Steem's Ecosytem as more people are drawn to quality Social Content

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When signing up for an account, essentially you’ll see that you've been delegated some Steem Power! For example for @crypto.hype account, he is currently receiving (+27.602 STEEM) this is an indication that this user has Delegated Steem Power. Steemit Developers are already given you a boost when signing up for a free account!

The starting amount of delegated SP may vary according to different users, the goal is to give some voting power to new users, so that their upvotes carries some weight. Everyone that is new to Steemit should receive some delegated Steem Power, this may be taken away in the future once a user accumulates enough SP

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Since @crypto.hype just recently signed up with Steemit, he could use all the support! Check out his account and as he is a big Crypto Fan like me! A personal friend of my who I've decided to donate 300 Steem Power to since he is likely to make full use of Vested Steem, voting on Content that I personally would be interested in. He is already a big fan of Steemit and posting quality Content as we speak!

*Do some good, Friends are here for Life and delegate some Steem Power or directly donate them some Steem. In return they've are likely to do the same, this will repeat and your Steem Investment will grow through Giving and Expecting nothing in return. This platform is bound to attract millions if not Billions of users, so do your best to attract more people by delegating Steem Power to users that are interested to see Steemit become a success in the long run

I will soon do a guide on how to delegate Steem Power, if you're interested to learn more about Steemit check out some of my previous post

Check out my Introduction Post

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I'm so glad to run into this post today. I am thinking about this delegated steem idea and I would love to get your take on my plan.

I recently found out about minnowbooster and I plan to try it. I would buy 4 weeks worth of delegated steem. This will cost 4 SBD for 100 SP that stays constant for the whole 4 weeks. I think I have to convert the SBD to Steem first and then do the transfer and get the delegation.

I feel like I am a good curator and that I have a good eye for posts to upvote that will give me a larger return. I was getting .001 for all my curations and recently I have been steadily increasing the low number for .003-005 at times. (WooHoo!)

So - I think (not sure) that this extra 100 SP will make a good difference in 4 weeks if I keep curating well and consistently. I like the idea of buying it from a central place and not going around begging as I have seen others do.

So after 4 weeks, I would either renew, give up the idea, or increase depending upon results. I'm new and broke in real life - investing is not an opition and I will probably cash out my SBD every so often. I live in SE Asia and get multiple streams of small money to live on - my SBD is tiny to most of you, but will make a difference for me.

Please tell me what you think of my plan. I learned of it at this post and I am open to any ideas you have that I am missing.

https://steemit.com/minnowbooster/@minnowbooster/6rt2mn-introducing-minnowbooster-beta

I have just been here 8 weeks and spend a lot of time learning. It seemed to me that this would be a good idea for me when I read it.

Thank you for any advice you might have.

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Well! As of right now, I believe to earn from Curation you would have to have a reasonable amount of Steem power but what matter most is to have a sharp eye for good content to upvote! You'll see little result at first in the beginning, I had to really struggle to get my account to this amount Steem Power, practically a broke Student in Debt! But Steemit has been extremely good to me! As for leasing out Steem, i like the idea behind it! But i'm not sure how you'll break even! Those leasing out Steem expect something in return, it's seems like you'll usually break even! You can upvote 20X for 5 days! Even so your voting stake decreases, so if you actively upvoting quality content you could accumulate from there. But i'm not 100% sure, so it's best to do an experiment
@fitinfun

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Ok - I'm thinking. So if I get the extra 100 for a month - this is more than double what I have now. Then I upvote 8-14 times a day to keep above 75%. That is 280 votes.

  • 20% will be random and not focuses on curation income.
  • 30% upvoting those who comment on my posts
  • 50% targeted to making money on curation

so

  • 56 make a bit more than now
  • 84 make a medium amount more
  • 140 make substantially more than now

I guess I need to know what I make now lol. Last week was 0.221 Steem Power in curation. It has not been enough to keep up with, but I am increasing over time as I get better at it.

I'm just going to do it :)

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Big investment but worth it eh?

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That's the thing I don't know and why I asked. The minnowbooster post says to start small. What do you think? Have you tried it?

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super late response. no not yet man. have you?

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Just got it a couple of days ago and don't really know the results yet. I got 375 sp for 10 STEEM for 4 weeks. They give you 150 for 4 weeks for 4 steem now. So far - my 100% vote is 6 cents compared to 1 cent before. This makes a huge difference.

Run! Do it now. Seriously. I'm going to write a post about it. All of us should be LEASING not buying steem in the beginning up to at least a couple thousand sp.

Then if you upvote effectively, I think the bang for the buck will be substantial for us little guys. The bigger you get - it's not worth it as much. So at some point your start buying instead of leasing bit by bit. I will definitely post more on this.

Good luck to both of us :)

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I think there is also some network improvement effect when you delegate. The community (and the value of STEEM) improves as a whole. So it is a win for all.

If you have a lot of Steem Power but not a lot of time to curate, delegate some to me. ;-)

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I'm going to go ahead and rent the delegation if I can figure out how to transfer the money they need :)

The one thing that is absolutely needed is the ability to delegate/revoke from the wallet. This gives every user the ability. There are many ways to do it currently but if this is a feature them to make it simple for all it should be just another wallet function.

I do like the idea of delegation, just in case that makes me sound against it :0)

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Agreed, they should definitely make it more simple! More people would definitely be using this feature. This process is a lot more complicated than it first seems!

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It is, it put me off and I am still never that happy about submitting any of my keys outwith the site no matter how safe it seems!

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I'm trying to figure out how to rent some delegation. I've tried twice and wasn't sure what I was doing. I hope the third time is the charm so I will start over and read all the info once again. Yes - this is very complicated for a minnow. I still have no idea how to get the sbd out of here if I wanted to!

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It's quite easy when you sit down to do it. There are loads of posts written step by step to get your SBD out.

As for renting it, I only have heard of minnow booster

Wow, glad I found this. I was actually Google'ing how to add italic and bold using markdown on here and found an old post you made. Wanted to thank you for that 1 and enjoyed this 1 as well. Made me think, when I have more steem power, I'll delegate them a little something to help them get started. Thanks for all the info!

This post received a 3.7% upvote from @randowhale thanks to @steemitguide! For more information, click here!

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That is wonderful@randowhale

Steemit is very helpful and more advanced continue hi friends @ steemboad
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@steemit is more advanced and more okay. Steem dollar and steem power. (STEEM) hopefully we are in this steemit can share vote capawan friend all. But most importantly do not bring other people post for our personal post. Very happy with his steemit we can share steem dollar ToTeman our friends and all circles who are in steemit. Greetings of friendship do not forget to follow me and participate in voting in the post you see worthy to show in steemit.

Excellent 👍 thanks for the post 😉 vote and subscribe to me 😗😙😚