Minnows Helping Minnows - The Ultimate Steem Power Building.
This is the fourth installment in the minnows helping minnows series that intend to help steemit newbies(minnows) from a minnow. If you missed the previous one, here is the link:
https://steemit.com/steemit/@successforall/minnows-helping-minnows-creative-steem-dollar-building
In this post I want discuss a strategy in which you can build your steem power using leverage. If you ask any successful investor he will tell two things that helped him amass his wealth - compounding and leveraging.
Steemit rewards you steem dollars and steem power when you post a blog based on the upvote value of the upvotes your get for that blog post. And it rewards you steem power when you uovote others' blog posts. If, for example, you got $10 in upvote for one of your posts. You get $7.50 as creator/author and $2.50 goes to upvoters/curators. The $7.50 is converted into SBD at the current rate to SBD 3.75 and additionally you get paid 25% of the SBD value in steem power(0.93 SP). If you get $10 in upvote, you will get SBD 3.75 and SP 0.93.
When you get paid you can use your SBD 3.75 to buy steem power and build up your steem power or take profit and cash out the SBD 3.75. As a minnow you should always try to build up your steem power whenever possible. You can use the "Buy" option in your steemit wallet and buy steem power from blocktrade.com. Assuming the the current exchange rate is 1SBD = 1 Steem Power, your steem power will go up by 4.68 (3.75+0.93).
But, that is investing without leveraging. You use the SBD 3.75 to buy 3.75 steem power(SP) and your SP goes up by 3.75 just one time. End of the story. No leverage. What if, with the same SBD 3.75, you can boost your steem power by 10 times (SP 37.50) or more without bringing in additional SBD. Now that is what we call leveraging.
Can that be done in steemit? Yes, of course. And that is why I call it "the ultimate steem power building." And it is a very useful strategy, especially, for minnows at the begging our funds will be scarce and limited. We must use leverage whenever possible. Obviously, if we intend to build our steem power with leverage, we should not convert (buy) our SBD to SP directly, instead we should buy upvotes with our SBD and let the system turn it into SP.
What is the catch? There is always a catch isn't it. The magic SBD:$ rate. It should not be less than 1:2.75. If you buy upvote with 1SBD for less than $2.75 you will end up with less than 1 SBD when you get the author reward after 7 days. Therefore buying upvotes from bit bots is not suitable for this purpose as their best current rate is less than 1:2.50. That is where our minnows helping minnows community come into play. In our #upvote-buying sub-channel, you can buy upvotes at 1:2.87. Here is a comparison what you would be paying for a $1 worth of upvote if they are paying at 1:2.50
You can join our discord channel and buy upvotes here: https://discord.gg/9fp4XSW
Minnows(Steemit Newbies) Helping Minnows. Success For All Minnows Support Project.
One of the big problems with the steemit newbies(Minnows) they get started with a lot of enthusiasm after looking at the payout amounts in the posts in trending and hot posts, hoping that they can get at least a fraction of it. But, when they post their posts at the beginning as newbies, lacking the support and following of big account holders, all they get is a few pennies and a few upvotes, if they are lucky. Discouraged and heartbroken they leave the steemit never to come back. Some of them stay a little longer hoping for whales and other big fish to help them. That rarely happens.
What we, minnows, have to do is to take pro-active action, help each other and grow fast. How can we help each other? There are many ways to do it such as upvoting, buying and selling votes from minnows. Sharing ideas and strategies to grow our accounts fast. But in order to do it we have to form small communities and grow together.
"Success For All Minnows Support Project" is such an initiative. You can find out what we are trying to do here:
https://steemit.com/steemit/@successforall/steemit-newbies-minnows-support-success-for-all-project
We have also created a discord channel: https://discord.gg/9fp4XSW
so we can meet there and exchange ideas, votes or buy and sell votes. We just started it. If there is enough interest we will develop it further. Sign up on the discord channel, if you are interested.
I am very much interested in this initiative and you're right to say that success is our birthright! I'm very eager to be a part of this group and will head over to the discord channel. It's sad to see great post by minnows getting neglected all the time, ideas not receiving enough attention. The same social stratification and endless struggle that we face in the world seems to also be in play on the steemit platform. The big ones just keep getting bigger while the smaller ones are either stuck or get smaller relative to the big, growth is slow and there are so many unheard and frustrated. It is my wish that everyone that produces good content is given the opportunity to be heard and celebrated as is the wish of so many minnows but the truth is that it rarely happens. I'm also resteeming this post so that all my followers can see this and hopefully choose to be a part of it as well. I also have some wonderful ideas to propose that i feel will benefit this initiative and all minnows in general. I look forward to working with you all.
Great post! @successforall
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly & Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness