What are the benefits of buying steem power? It something we really should be doing, Or something that we can be okay not doing?
Does a small amount of money invested into it make a big difference?
Sorry Noob here! haha.
What are the benefits of buying steem power? It something we really should be doing, Or something that we can be okay not doing?
Does a small amount of money invested into it make a big difference?
Sorry Noob here! haha.
steem! ;)
By adding to your Steem Power, the weight of your votes gets higher. When the network/platform gets more valuable, so does the SP, and the other way around. If you believe in Steem becoming the next big thing and got some spare money, it's a risky but potentially very rewarding investment.
If you don't have the spare money now, just keep your activity high and you'll receive some at the payout date anyway.
Thank you for this! I don't know how I spelled that wrong, maybe sleep depriviation! LOL.
I do have a little money to spare, I just want to make sure it's a good investment, So I think I'll go ahead and invest! Thank you for your input.
Hai...I saw the post came some 2 years ago..is it still relevant? Is it advisable to convert my small rewards into steem power?
Its very high interest on whatever you put in Steem Power, but you can only withdrawl 1/104 of it per week.
Oh I forgot about that! No wonder they say it's so illiquid. I'll make sure not to put all my money in then haha.
Lol. It helps you earn more on what you post and vote on too, so it helps to put something in Steem Power for that as well.
You earn more on what you post if you have more Steem power? Will it affect your past posts too?
I'm unsure honestly as to whether it affects past posts or not. Maybe.
I would highly recommend powering up all Steem you do not need for immediate expenses (say in the next two years). Steem tokens effectively loose value as they are held, while Steem Power increases in value as it is held. If you're not planning on cashing out your Steem any time soon, power up!
Interesting...was going to ask why this is. Then I did some digging and found this post: https://steemit.com/steem/@xeldal/the-price-of-steem-will-always-go-down-it-s-supposed-to-the-magic-of-steem-power
I hadn't realized that. Thanks for pointing it out in your comment.
You're welcome - though things have changed somewhat since then. Cheers!
@darwinruiz
There is 8% inflation build in but when you upvote other people you can also earn so it's kind of a zero sum game.
Do the same regulations still in place?