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RE: Put in a request for a MinnowBooster Lease - Voting Strategies and Other Wild Fantasies
To tell the truth, I'm not too much worried about the profit, as much as I am in building back up some SP...and in throwing around some pennies here and there LOL
I can't say I don't care about it, but I am hoping that a price surge takes care of it for me
That is true. Since the price point is so low right now, if you bought in with a few hundred USD and bought Steem, then used that Steem to rent out more Steem, you could get more of your money back.
Renting Steem Power is always going to drain your money and make you go negative unless you upvote yourself a ton.
The math is that if you upvoted yourself 10 times a day every day and price stays roughly the same, that you would break even in 19 days and or so, and then the last remainin 9 days is profit above what you spent to rent the Steem. This assumes that nobody else upvoted the comments you upvoted yourself on, that way you get 100% of the upvote. That is what got me downvoted because Iwas upvoting myself a ton on stuff and that drains the rewards pool and I understand how that is bad now hehe.
But if you are renting SP and want to upvote others, you are effectively losing 65% after the full 28 days goes by.
So if you want to send them 100 Steem, by the end of it you will have earned back 35 Steem, losing 65 Steem. If you make 2 blog posts every day you would get back 40 to 45 Steem instead of just 35. So there is still a loss of over half.
Sorry for the long comment! Just wanted to lay it all out there. It is unfortunate that renting steempower will make you lose money. The only real way of breaking even or making a slight profit is using the @randowhale or @minnowbooster upvote or @booster upvote. But if you are ok upvoting others and throwing some votes around more power to ya! :) :)
yeah, I aint going to be pious about this LOL
I'd like to see a return ;>
Good info in your comment, thanks!