Should I Hold Steem Power? with @piedpiper - Steem Smart Podcast Ep. 6b
@piedpiper gives us the lowdown on when to hold, and when to fold, Steem Power.
Stephen Polsky ( @shneakysquirrel ), Gabriel Scheare ( @piedpiper) and George Donnelly ( @georgedonnelly ) discussed when to hold Steem Power and when to power it down.
We broke episode 6 into 3 parts, as requested. We'll publish part 3 on Monday and a fresh episode with @stellabelle starting on Tuesday.
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Next Episode: How do I Get More Steem Power?
Monday, we're discussing how to get more Steem Power. Next week, we'll be sharing a dynamic conversation with @stellabelle about how to make awesome content. Oh, it's gonna be good!
Previous Episodes
- Episode 1: Meet Steem, the Blogging Platform where Upvotes Pay
- Episode 2: Interview with Andrew Levine @andrarchy
- Episode 3: Where does Steem Money Come From?
- Episode 4: Screem is Decentralized Twitter Built on the Steem Blockchain
- Episode 5: What are Witnesses? with @pharesim
- Episode 6a: What is Steem Power? with @piedpiper
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I always thought @piedpiper gave good advice, this interview showed me that he is also, a forward thinking intelligent investor. Especially the part about "making every dollar work for him".
I have been powering down since the beginning and will continue to do so. If I need more steem power I will buy steem on the dips when the price is low and then power up.
Thanks for this interview @steemsmart.
Ok thats interesting !! Tell me who has not yet gone through the powering down process ! Is it possible to power down just a small part of your steem power !! How does one control how much of the steem power you want to trade in ?? I there some way of controlling totally how much really is my question ?? I have asked a few people and they all just give me the white paper response of 104 percent for two years. Which is not useful as i do not certainly wish to empty my boiler totally !! thanks looking forward to your response as it seems you are a master of this procedure !! ; - )
Yes. Start the power down process and in one week, you will get 1/104th of your SP holdings. You will get similar installments each week until you stop it. You can stop any time.
So, if you wanted to power down half of it, just stop the process after 52 weeks.
That's the only way to control it right now.
Make sense?
@piedpiper learned from the best ;)
Anyway, what's the point of not powering down when you are an active user who keeps earning SP? He's the perfect example, one of the top content creators here, he should be powering down, that's the logical thing to do. I've been powering down since the start too and I'm a minnow. As an active user my SP barely took a hit and I'm not even a top or medium paid content creator.
I know it's not nice to say "I told you so" but I did the right thing, I could buy Steem and power up for less than a dollar right now if I wanted to. When I signed up it was above 4...just considering the high inflation rate and knowing how crypto trading works it was very easy to predict. There's absolutely no need to buy Steem other than short term speculation (and that's gone too atm). If you are not a good content creator then buying Steem to power up it's not a logical investment considering all the risks and uncertainties and that's the sentiment right now, that is until some major changes in development happen.
So always power down and if you are completely sure there's some sort of actual support in Steem price other than daytraders then by all means buy some and power up.
I FUCK @piedpiper , FAGGOT DOESN'T EVEN SCALE.
Interesting discussion guys. Right now I'm holding my power, but selling the SBD I earn (which isn't much... yet)
As an animator, a writer and a filmmaker I agree with the observation that part of what Steem was designed for was to be a sort of new take on crowdsourcing. It's great to see people ascribing value to the things they deem valuable and I hope that the community of artists and content creators continues to grow and support each other.
A couple of times in recent episodes, either you or your guests have mentioned that they don't believe there is money to be made in curating. So far, this has not been my experience. I've been purchasing Steem and powering up, so it's a little hard to calculate, but I estimate over the past couple of weeks, I'm averaging about 12 SP/week in curation rewards based on an average of 3,300 SP. On an annualized basis, that's ROI of almost 20% (12*52/3300), and that's not even counting the extra SP I'm receiving for the system-based inflationary offset to the liquid Steem currency. I've also tried my hand at writing articles, without success so far, but I understand it will take time to build a reputation and a following. I'm not discouraged yet. Ironically, despite the effort I've put into writing, my biggest author reward was for (what I considered) a throw-away comment on someone else's post that was upvoted by a whale for $150+.
Unless you have high SP holdings, indeed curation is not going to make you significant money.
You say you earned an ROI, but that's not correct because you didn't factor your time into your calculation. How much time did it take you to earn 12 SP? Factor that, in the form of your hourly rate (absolute min USD$25/h for freelance work), and then what is your net earning?
Are you using a curation bot? Do you have a strategy for that first 30-minute window? Because that will be a requirement soon, if it's not already.
If you feel curation is a profitable use of your time, of course, pay me no mind.
It's not worth my time, per se, for the reasons you mention. However, enjoy doing it, and I feel that it's worth my while to contribute by upvoting things I enjoy & that improve the quality of the site. Basically, I'm getting paid something for a task I would doing anyway, which is more than you can say for Facebook or Reddit. I'm holding SP mainly because I want to build an equity stake in the system - not because I want to maximize my curation rewards. And SP will help if I ever build a following for content I may create in the future.
Sure, that's a totally different POV (basically same as mine) tho from saying it pays to curate for low-SP users.
I am long and I am continuously powering up. or am I alone?
https://steemit.com/steemit/@steempowerwhale/who-is-powering-up-or-am-i-alone-the-steemit-power-up-club
FUCKING NIGGERS DON'T EVEN KNOW JACK SHIT ABOUT MONEY.
DID YOU FINISH FIRST GRADE MATH YET?
I BET YOUR DICKS, SO SMALL
.
FUCKING NOOBS EVERYWHERE.
YOU NEED TO LEARN BEFORE YOU PRODUCE YOU CUNT.