FYI, I invested time, mining, and bought all of those coins. But I spent way less time on them, money, and effort that I do on steem. For those coins, I probably spent about $20 or $30 (which is huge after a coin gets released), and spent about 1 or 2 days on each one mining them. That's nothing as compared to the time I invest on steemit.
Take a look around. This is nothing like a netcoin, lottocoin, or feathercoin. You're also missing, that Crypto is too confusing for the average layman. People graduating from Facebook can use this, which gives it a huge network effect. There's a ton of people just enjoying steemit for what it is, and will figure out how to pull profits out later. As a result of that, this is nothing like anything we've seen before including Bitcoin.
I won't dispute for a moment we've never seen anything like this before. Ergo it's a risky investment with a lot of growth potential. That's not to take away from the experience at all.
Any steem i ve been getting from contests etc. Although small amounts , ive been putting into Steem Power. Should i be doing this or just leaving it in steem? Thanks! Great post by the way im all ready following you! 😉👍and reblogged!
When you put the money into SP, it earns interest. 90% of steem created each day gets distributed to content producers, curators, and SP holders.
So save it up. When you're ready to cash it out, it will pay you weekly over 104 week payments. So let it build up more and more if you can.
Ok so your saying when people pay me in Steem for winning contests, that im doing the right thing by not keeping it in steem and putting it into steem power! Thanks! Sorry but this is all new to me, and i just didnt know what to do with it when thay transfered my winnings to Steem. Thanks for your reply, youve been very helpful!
you only need steem power here @karemkersie, the rest has uses which are specific in nature, transfers to others eventually or just cashing in your steem chips at the exit. But if you want in and be a steemster, you need to hold on to that steem power !! .