A quick list of questions from a semi newbie looking to invest in Steem with money and time!
Hello Steemians
I hope you guys are enjoying the Steemit powered ride so far!
I have a list of questions I have been writing down while using Steemit for the past days.
I do this a lot, I have evernote always open and when I get an idea or have a question I jot it down. I may not get to it today but at least I won’t forget! Oooo the stupid things I jot down LOL
Some questions may seem obvious but I’m sure it will help others. My teacher used to say, “ There is no such thing as a stupid question” yeah right!
- The conversion from SBD directly to Steem Power takes 1 week, it also says the price is median price over that week. Any particular reason why 1 week?
- Does responding comments reduce steempower?
- What is the interest rate for SBD and how often is it calculated?
- When is the SBD interest deposited in our accounts?
- Should we assume comments are paid just as the same as a post? Even though comment amounts are lower.
- Should I vote for myself? If I vote on my own reply or post it will be mine?
- Can one transfer Steem from poloniex to Steem in Steemit? No right?
- Does one loose steempower while commenting on peoples comments?
- When I edit a post or comment do I loose any rewards?
- How does steemit control people who have several accounts and vote on each other?
Thanks in advance
#investment #money #how-to #craig-grant
"I have evernote always open and when I get an idea or have a question I jot it down."
That's a great way to collect your thoughts!
I'll try to touch a few of these, not too comfortable or knowledged about the rest yet, I numbered them.
1 - Not sure why one week, but you can use the internal market to convert them immediately to Steem if you don't want to wait (this is what I do as I want it to grow as fast as possible at the moment).
2 - Comments don't reduce voting power at all yet, as far as I know
3-4 - Constantly apparently: https://steemit.com/steemit-help/@ash/questions-steem-dollar-interest
5 - Currently they are paid the same as posts, it all depends on how many votes and their weights.
6 - Yes; https://steemit.com/steemit/@james212/reminder-always-up-vote-you-own-comments-and-posts
7 - yes, all to accountname, memo is only needed when depositing to exchange.
8 - No, you can check your voting power at www.steemd.com/@username
9 - Don't know about the comments, but it seems like currently editing your "4 blogposts/day" may actually trigger the diminishing returns, but can't find if it effects comments.
10 - Not sure, it may be considered as advertisement in a way, so I don't think its "against the rules" but don't take my word for it. All I've read is that powering up on one account as much as possible is better than more with lower SP amounts (remember the earlier point about upvoting your own comments too)
In the end, it takes 0% for your voting power to go from 0-100% without voting activity (this may change) and I am not sure but voting too quickly on others may have some penalties too about how quick your power re-generates. All I know is that for the most efficient amount of curation rewards (which is depends on your voting power %) that you should vote around 20-25 per day.
Although I've been way too active lately and think at this early stage posting is rewarded more than just voting (plus at being at a low SP)
Hope that helped.
Hey @Acidyo,
Thank you for the reply. I am also trying to power up as quickly as possible.
I currently have an Ethereum miner that I am selling and going to move the cash over Steem Power. I want keep the SP for the next 5-6 months. This is more less the time I would have mined for 200 - 250 Eth
By selling the miner and reducing my electrical costs plus posting voting and commenting. I gain more and have opportunity to profit. Plus I won't have that loud stuff in my guest bedroom. It just seems easier in the end but a lot less liquid.
I get the SBD SP interest and payments now. I mean if you hold SBD overall it helps the network and you gain 10% interest growing every second. The SP is way more profitable but less liquid.
I would guess that the ultimate goal is to have a percentage of SBD and a higher percentage of SP to have a certain amount of liquidity.
Thanks for the info!
Cheers
the ride has been awsome, great to see so many good answers here!
Thanks for the post!!