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RE: WitnessWatch Weekly Report #12: How much do witnesses make?
Wish I made that. All the SP my witness generates gets donated via free delegations into the community. None of it is powered down or used for any sort of profit-focused activity, such as self-voting or renting out.
Thanks for reading! The good news is that the SP you are holding and delegating to the community is still yours and will keep its value!
Why ? Witnesses rents at least one one server to produce blocks and sometime runs full node that’s costly.
Plus, witnesses needs to provide added values to the Blockchain to be approved by steemians. Each witness has his project that need to be funded.
If I power down then I won't have the resources to help various individuals and communities. No point in being a witness if no residual benefit aside from the obvious block production and price feed maintenance comes from it; the goal is to support the blockchain in other ways and promote it. Otherwise there'll be no blockchain to witness for.
What I do instead is fund the witness through my unrelated earnings on the platform. I fund our dev bank with that as well. Even if I powered it all down, the SP wouldn't be nearly enough to fund the hours for a single project.
Not all witnesses have projects. Not going to call anyone out but I can think of a few that do jack.