Value of 500 Steem Power?
Dear Readers,
Its been few weeks that I started posting regularly on Steemit. I've been accumulating Steem Power by posting, voting, and commenting on most of the topics.
Have been following few reputed members on Steemit and they keep mentioning how SP is under valued and we should make best of it.
@donkeypong has beautifully explained the difference and value of SP. @kevinwong too mentioned in his article on why we should accumulate Steem Power. I still fail to find exact figures that convince me in buying more from market.
Time and again @firepower has mentioned on how to gain by accumulating SP now
While I know I can use Steem Power to self reward and can use it to help motivate new members. What i don't know is the direct proportion of my SP to voting value. Currently with full power and 200 SP my upvotes give me around $.06.
Ran through various articles and I fail to get clear answers for the below and need help from the seniors with regards to the same.
- How much payout would be there if I cross 500 SP? Is there a slab i can refer to?
- What other benefits does user get?
Your guidance will be much appreciated @steemit @firepower @donkeypong @kevinwong @good-karma @jerrybanfield @fredrikaa
Use https://steemnow.com/upvotecalc.html to know how much will be the worth of your upvote. Currently, 500 SP would give $0.14 at 100% upvote. If the Steem prices increases then this will also increase.
Higher the SP you hold, higher will be your influence. Your curation rewards will also increase, gain more followers.
well it depends, there is no simple formula. For a vote you get a part of the reward pool based on your amount of steem power in comparison to the steem power of the whole system.
You can use https://steemworld.org/@thenomadictales there you can simulate different SPs
Hey thanks. The link is really helpful. Tried using simulator to get actual figures. Do you have an idea about extra benefits ? How about power to choose payouts.
You got a 2.48% upvote from @buildawhale courtesy of @thenomadictales!
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More and better visibility probably. Though I have seen people with upwards of 1000SP here and even they have to use bots to upvote their posts.
The only upside I can think of is that Steem going upwards of $50 and then only you can see direct benefits of your Steem Power (which can be availed only after a period of 98 days)
That it is. How about power to choose how much payout you want to give to your upvotes?
Use Busy.org instead of Steemit.com. You can choose your upvote value even if your SP is below 500. Alternatively, you can simply start using steemauto and add any number of users you want to at your desired upvote %.
I will recommend you use the both methods.