Will you watch this video or read at http://jerry.tips/hf19hack to see how every Steemit user with at least $100 in Steem Power after hard fork 19 can now upvote their own posts enough to double their Steem Power in 181 days or less? I call this a hack because I doubt this was the intended design and would guess for hard fork 20 there will be some limitations placed on this! That said, if you invest today, you can expect these results as I am getting now by voting others up and receiving their votes up!
If you want to earn money with cryptocurrencies online today, this is one of the easiest ways to do it! Compared to trading on Poloniex or Bittrex, there is almost no risk with huge rewards possible both in the short term and long term!
What is the big motivation to avoid doing this? Happiness. While it feels good to give to others, voting our own posts up repeatedly brings a feeling of greed, selfishness, and being alone based on my experience already doing this during the first few days I joined. Today I choose not to pay myself $1,600 in my own upvotes every 5 days which I could easily do in about an hour of time every day. Given the temptation, I understand if anyone does want to simply vote their own comments up because of the data shown below.
What about inflation?
The numbers I share are based on today's voting power and actual inflation because all the rewards produced come from inflation and because most Steem Power is not used for voting! The more voting power used, the less each vote is worth meaning that if every single user only upvoted themselves, we each would receive an interest payout equal to our Steem Power at the current inflation rate. When considering the SBD conversion rate which effectively adds 20% or more to every reward payout at 50/50, the amount of rewards are actually higher than what I show here. As more whales get excited with the ability to vote comments up for $5, $20, and $100+, the value of voting power is likely to continue to drop and get focused at the top more meaning that it will take longer realistically than 180 days to double money with no change!
To show how this works in detail, let's start with my account which is currently worth $81,953.75 because of your generosity here in voting my posts up and the profits from selling my Dash masternode just days before the value went up $100,000!
In 181 days just by voting my own posts up and the laws of compound interest because of getting my own rewards and therefore a higher vote, I could double my account value to over $166,000 without one other user giving me even one vote.
You see after just six days, I already have an extra of almost $1 on my 100% vote with an account value up $1600+ from 5 days earlier.
In 181 days roughly with no Steem price increase and counting only my own self upvotes, I will have double the amount of Steem Power as I did before. Just for fun, let's say this went on for longer
Think this just works for whales? How about starting with $100? Same result! Less than $100 might get the payouts so small they would be rounded out. If you figure in the SBD are worth more than a $1 and all those are reinvested, this actually is possible way faster than in the example I used because SBD effectively increase the payout of each vote around 20% to 40%. If you figure in taxes, it might take a bit longer unless you opted for some sleepless nights of worrying about an audit.
Long story short, until there is a change users can just literally power themselves up providing a huge temptation for whales and dolphins alike plus adding a huge incentive to invest in Steem Power right now while this is possible for those purely seeking to make some money without any regard for the community. While this might not include many of us, just a few users doing this strategy especially whales will reduce payouts for everyone else across Steemit and make us all look like we need a shower.
Earn more by voting down to 80% each day? Yes and I will be starting to vote in the 70% to 95% range most days now because yes this pays more than voting to nearly 0% and then waiting for voting power to come back up!
Is less regulation better? In theory yes but practically it will only take a small amount of users upvoting their own comments and earning Steem Power and SBD from those votes to significantly reduce all earnings available to other authors. While it is nice to be able to pay ourselves back, should it be possible for me to pay myself $400 a day upvoting my own comments or should this be limited?
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://steemit.com/hf20/@jerrybanfield/we-double-our-steem-power-upvoting-ourselves-every-181-days