STEEMONOMICS 101- Should I buy Steem and convert to Steem Power?
By the looks of it, your influence is based on how much SP you have.
So...In theory, if I transfer $1000 worth of Steem into SP it would be beneficial to my growth right? Steem goes in, Steam Dollars (SBD) come out, and it all runs on Steem Power.
The more Steem Power you have the more you earn?
Lets start a discussion and a new thread called "Steemonomics"
My strategy- I am going to deposit the steem I bought on bittrex. Convert 1/3 into SP & 1/3 into SBD to hedge against the remaining steem I own.
#steemonomics #steemit #steem #economics #help #steemlife #money #bittrex #cryptocurrency #crypto #investments #investing #steemthought
After I posted this @liberosist informed me that he/she wrote a post on this. (https://steemit.com/steem/@liberosist/steem-steem-power-steem-dollar-101 )
#investments #money #crypto #help #steemlife #steem #steemthought #investing #cryptocurrency #steemit #bittrex #economics
In short, if you see it as a long term investment (years) convert everything to Steem Power.
I have written up a post about this. Check it out - https://steemit.com/steem/@liberosist/steem-steem-power-steem-dollar-101
@liberosist would you mind if I included a link to your post in this?
Not at all, please do. :)
wow. didnt realize SBD stakes... earning you 10%.
that's beautiful
Also remember that while STEEM=>SP is easy, SP=>STEEM will take you 104 weeks (1/104th per week). So don't put money that you 'll need in the next weeks/months.
Throw 100$ in and test the waters if you like what you see throw in another 100$
@cryptohustlin Good idea, I bought a bunch of steem when it dipped to .0036.
Steemit is the best investment(by far) right now. The coin is in a uptrend, steempower stake AND still make more steem dollars. no doubt it is a good idea!!
have a look in my post too:
https://steemit.com/writing/@steemitdude/when-you-need-an-idea-to-a-new-post
upvoted your post