6 reasons why you should power up

in steem •  7 months ago 

6 Reasons why you should power up.png

For people who are new on the Steem ecosystem, it is difficult to understand how everything works. It's quite a complicated world and it takes a lot of time to master most of it. One aspect of Steem is in my eyes more important than anything else. It's the process called to „POWER UP“.

„Powering Up“ means that you stake your Steem and transform it into Steem Power. With bigger Steem power you increase your RC and also your voting power. Meaning that you will have less limits to post stuff and also your upvotes will have more economical value.

When you power up, you bind the Steem for 3 months and you need to power down to get it back in liquid Steem. So by powering up you are putting your Steem in a kind of box for a certain time and you can't sell it or buy other things with it.

With Steem prices that are lower than ever it can be a tough decision to take but I will tell you why you should power up. Now more than ever !

1) Powering up means more RC and more Voting power

This is the most obvious reason to power up. With more Steem Power your upvote will be more valuable. Giving these upvotes doesn't cost you anything and you can spread value around you. You will also be less limited in terms of RC. You can post and comment more often.

2) When powering up you participate in increasing the value of Steem

I believe that for everybody on this platform, the price of Steem matters. In order to let the price of Steem increase we all need to power up.

When we power up, we block Steem. We actually take this Steem out of circulation for a certain amount of time. The supply from the reward pool is fixed and the number of Steem that is distributed is finite. So each time we power up, we take away a part of this reward pool and we stake it. If the rate of staking increases, the liquid amount of Steem available will diminish over time. There will be simply less Steem available to buy. This will help to stabilize the price of Steem.

3) More Steem Power makes you more important in the Steem world

When you have a lot of Steem Power you have a higher upvote. We saw that already. This means also that people are attracted to these upvotes.

Let's say you write a post and have 25 SP. Your upvote value is 0 $. Why would I leave a comment to your post? The best I can expect is your upvote and if your upvote is worth nothing, it is sad to say that I have nothing to gain. This seems a bit hard but it is the truth. If I have 1000 SP and I write a post, there will be much more people commenting my posts and hoping to get my upvotes. At the same time they will feel obliged to give an upvote themselves.

Who would you follow the guy with 25 SP or the guy with 1000 SP?

4) With Steem Power you have a say as to how the Steem from the rewards pool is allocated

This is a point that a lot of people do not realize. The reward pool is distributed according to the upvotes of the stake holders. The more Steem Power you have, the more your upvotes influence how the reward pool is distributed. If you have no Steem Power, you have no weight and you delegate the reward distributions to the others that have staked Steem.

5) High Steem power brings high curation rewards

If you have less than 100 SP, you probably haven't had the chance to get real curation rewards. I can tell you that when you have several thousand SP, curation rewards are becoming really interesting. For every upvote that you give, you get curation rewards back. At the moment 25% of the value of a post is distributed to the people who have upvoted it. Starting in September with HF 21 however, this curation reward will go up to 50%. This means that half of the payout of a post goes to the people who upvoted it. The higher your Steem Power, the higher your curation income is going to be.

6) It has never been so cheap to become a whale

When I started with Steem a year ago, the price for Steem was much higher than today. I struggled a lot to collect my first Steem. Today it is still difficult to collect Steem but it has become so much cheaper to buy it! I see the price of Steem as a big opportunity to become powerful on the Steem ecosystem for relatively little money.

I can't say how the price of Steem is going to evolve and I wouldn't suggest that you buy Steem with money that you might need somewhere else. What I suggest is that you use the Steem that you earn and power up your account. It's what I have been doing since I started here. Your profits are multiple and high Steem Power will give you much more that the few cents that you might gain now by exchanging your Steem into fiat or other cryptos.


My projects:
@help.venezuela : a program that supports steem users from Venezuela.

HVOTE : A token that is underlined with a real steem account. With the sales of tokens, the Steem Power of the account is increased. The votes are sold on smartsteem and together with curation rewards, the account produces real economical value. Big token holders get upvotes from the account.

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Hello my dear @achim03, another interesting publication.

I think you are conducting a great campaign in favor of steem and this entire ecosystem. I encourage you to move on and we are supporting your cause. Restarm to this publication and positive vote.

Thanks friend!

Hi @fucho80,
Thanks a lot for your comment and your support! I believe that it is really important to give people hope and trust into this blockchain.

Best regards,
Achim

Dear @achim03

Indeed steem ecosystem isn't easy to grasp for new users. Learning curve is really difficult and I think it's the best to introduce @steempeak to new users asap.

Funny thing is that the other day I was trying to explain to my younger brother the idea behind powering up and staking tokens and I found it so bloody difficult.

And today I'm reading your explanation. And to tell you the truth, if I were new user I wouldnt understand much lol.

I've noticed that there is a bit more optimism back to steem blockchain lately (Since tribes and steem-engine tokens were released) and your post is an excellent example of that optimism.

Upvoted already,
Yours, Piotr

Hi @crypto.piotr,
Thanks a lot for your comment.

I've noticed that there is a bit more optimism back to steem blockchain lately (Since tribes and steem-engine tokens were released) and your post is an excellent example of that optimism.

I believe so too. The new tribes have a big impact on the steem world. Small players have new chances to become whales in a new tribe and this is motivating. I also believe that it is up to us to promote optimisme into this blockchain. I think Steem is one of the greatest projects available on the internet today and it's up to us stakholders to speak positively about it ;-)

Best regards,
Achim

Howdy friend @achim03.

All the reasons you give us are totally valid.
Really the most important thing in steemit is to increase the SP.

Due to the current low price almost anyone can have an account with high SP, even being new to the platform.
Previously you should earn that privilege with your publications and much effort.

Would it be beneficial for a newbie to own a lot of SP?

Your friend, Juan.

Hi @juanmolina,
I love the way you ask questions in your comments, this really favourises interaction and exchange of comments !

Would it be beneficial for a newbie to own a lot of SP?

I believe that every newbie should get some SP to really profit from the platform. Without SP, they don't have the necessary RC to interact as much as they want. In addition because of their lack of Voting power they hardly get any attention to their posts. So they can't post and they won't get upvotes -> That is an explanation why so many people quit steem soon after having started.

When we encourage people to join steem, we should also tell them to invest at least 100 SP to have a nice experience.

Best regards,
Achim

I'd add to this that if a newbie has more SP, he won't find himself as isolated as he will be if he keeps thinking "posting/looting" because there's nothing that drives people away more than plunderer.

A post's quality is a very subjective thing. You may think you've done the perfect post on pots and flower, but if your reader is a gamer who's the best definition of a flower is a collectible and definition of a pot is an inventory upgrade, then the quality of your post in his eyes will be definitely... low.

However, if you interact by upvoting his posts/commenting & bringing value to his own gaming posts, chances are he will take an interest in you despite the gaps.

That wouldn't happen with someone who has a low-end value as a viewer. For people to look at off-topic posts, it really has to bring them something important.

I learned from my mentor @crypto.piotr the importance of comments.

When we encourage people to join steem, we should also tell them to invest at least 100 SP to have a nice experience.

This is true, I agree. With 100 SP it is possible to interact and publish fairly.

I think that a rookie user with a large SP, suppose 100K, would be in a condition similar to Peter Parker's when he discovered his powers. Then we would have to advise him:

"Great power leads to Great Responsibility."

I think that a rookie user with a large SP, suppose 100K, would be in a condition similar to Peter Parker's when he discovered his powers. Then we would have to advise him:
"Great power leads to Great Responsibility."

That is really well said ;-)

Hey @achim03

First of all, thanks for coming around my account!

Then thank you for this post, I didn't know that the curation reward was more interesting with higher SP, I thought it was more of a matter of how many RShare the post would obtain overall.

Overall, I feel like-minded to that post too, it's really worth it now to be a high SP account!

Thank you for your comment. With a small account the curation rewards are almost non existant. Maybe if you voted at a good time you get 0.001 Steem. The more steem power you have, the higher the curation may become. It's definitely worth to grow in SP

Articles of this kind should be written every day.

There are more and more users, but understanding this kind of thing is still done uphill.

Hi @yonnathang,
Thank you very much for your kind comment!

Best regards,
Achim

Great advice @achim03, thanks for sharing and stay awesome.

Thanks @flaxz for the kind comment!

👍😀♨️

Amazing piece of writeup. I will share it with my friends and the new community am building. This is really informative. Building one's Steem Power is the way to build one's success here.

Thank you for your comment. I believe that Steem Power is necessary to be successful on steem. In addition it shows your commitment to the steem world.

Crypto gaming should have a greater impact in the months to come. Steem has positioned itself to take advantage.

I totally agree with you. I think the gaming sector will have a big impact.

I love this kind of articles, with good advises to protect and heal our blockchain economy.

I believe very much in the power of ideas. I know that people behave everyday along with the values that were established in their minds only by cultural influences.

So if you seed another values, you could also push people's behaviors toward different outcomes. I think your seeds here are good and necessary for our future.

Hi @spirajn,

I totally agree with you. We can greatly influence the people around us with our ideas and also with our outlook on the world.

According to an Indian saying: There is a good wolf and a bad wolf within us. It's up to us to decide which one we want to feed...

If we feed the good wolf, the positive side of ourselves, not only we live a better life, we also have the possibility to spread this positivity around and make the world a better place.

I really believe that it's up to us to change the attitude of people on the blockchain by being positive and encouraging. For the better for everybody...

Best regards,
Achim

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Thanks for this fine piece. It is delicious. SP is everything. Cheers! #projecthope

Thanks a lot for your comment!

Always my pleasure.

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