Hey guys and gals,
I thought I would share with you something that I've been wondering for while...which is:
What happens when you power-up 10,000 STEEM?
What Happened
Well, I had a bit of LUCK. (Labor Under Correct Knowledge)
When the STEEM had it's latest peak at 1.60, I sold my power-up for Bitcoin. Then when bitcoin was going parabolic yesterday, I sold my bitcoin and bought STEEM at $0.99.
I started a course at learncrypto.io about the Wyckoff method...and I'm learning to buy the dip! π All this to say, that I ended up with much more STEEM than I started with and realized that I could share with you what happens when one powers-up 10,000 STEEM when the price of STEEM is at ~$1.
More Than For Research, I Power-Up Because...
I POWER-UP because it's the best place in the world I can think of to park my money. Like I said in a previous post: Nothing beats income and influence. I know that I'm getting a steady stream of curation rewards as well as author rewards. I will take that over any speculation...any day.
So Here Is What Happened
Shout out to https://steemworld.org for their amazing little app. I especially like the % calculator because you can play with it. Right now, I've been voting a little too much and I'm at 49% of voting power. Here is what it looked like before I powered-up:
Hey, ~$8 isn't too shabby but if I was at 100% it would look like this
So the magic number is $17.08 when I had 166,735 STEEM powered up.
Now let's look at what happened after a power-up of 10,000 STEEM.
Conclusion: Powering-up 10,000 equals an additional ~$1 on every votes. (and additional benefits)
I think that's awesome to be honest and let me explain why...
Once upon a time, the reward curve wasn't what it is today. Back then, adding 10,000 STEEM would maybe have added an extra $0.05 to my vote...brutal.
There were no incentives for me or anyone else to accumulate more SP because the additional benefits were marginal. But now I know that every SP that I am accumulating add significantly more influence to my vote. Also, my curation rewards will increase. I earn ~ 170 SP a week just voting on other people articles. Now I can expect an increase in this passive form of income.
Realize that you are at the right place at the right time, there hasn't been a better time to accumulate STEEM. In the future, when the price of STEEM is at $10, you will be receiving 10X less steem for the same $ reward. The future belongs to you if you make the most out of this opportunity.
PS: The link to learncrypto.io is a referral link. I think these guys are awesome and the community is great. If you are interested in trading cryptocurrency without losing your shirt you should check'em out. They also have a livestream two times a day to look over charts and banter about stuff.
After a year of being an amateur crypto trader, I can attest to the veracity of your https://LearnCrypto.io claim. We are a great group and Sensei Butterfield is the real deal.
Congratulations on selling the peak and buying the dip! It is so simple in concept, but, as you know, takes us denying our most common of senses. Trading - what an endeavor! The hardest part for me is being a DOer. When the coins aren't moving favorably, I want to get in and DO something about it! However, unless I'm following Harriman's formula religiously (which I haven't been so far) I usually end up just making things worse. How about selling at 4800 and waiting over a week for a "buy opportunity" dip that still has yet to be seen - THAT'S fun. LOL! Oh hello close to 6k, too bad the dip never materialized and I am not a part of the party. Sheesh!
What a wild ride. Emotional individuals be forewarned, best to buy and HODL for us uppity losers.
C'est la vie, live to fight another day. Or Lose, again ... and again, and again. HA! Someone's gotta do it and I've always been a giver!
@fathermayhem I think what you just commented has the answer to what I was looking for a long time. I was looking for a community or group of people that could easily explain how to buy dips and sell highs. Thanks for adding even more value to the post. Just upvoted your comment. @gold84
I just did something a bit similar (though to a lesser degree lol) by selling some BTC at peak for STEEM. When I look at the STEEM/BTC chart I am amazed at how long we have been trading sideways. I would not be surprised to see the next major STEEM rally take us to upwards of $4-5 before settling back down.
As to when this could occur, it's anyone's best guess. My prediction would be when a major development is released, such as: SMTs go live, Steemit official iOS/ Android apps released, Steemit official launch, a high-profile celebrity joining Steemit, etc.
Props on making such a great investment and thanks for being such a prominent voice and supporter within the Steemit community. Also, congratulations on your successful trading move! It's not easy to successfully time the dips. I'll check out the learncrypto.io link as there's always more to learn and I'm inspired now seeing what you were able to achieve :D
Hello @cryptoctopus
I for one dread trading cryptocurrencies because i did not want to lose my hard earned Steem. And when opportunities to buy the dip comes I am always handicapped because 95% of my earnings are in Steem Power.
I have been looking for a community like Learn crypto, the one i found last month charges 0.25 BTC as entry fee.
I will check out Learn Crypto and see where it takes me.
I am just happy for posts like this on Steemit, before I joined Steemit I had no access to reliable crypto information, but Steemit have give me a place to learn about Cryptocurrencies while earning one at the same time.
I also have a question. How far do you think the a reward curve change will affect curation rewards in the future?
@ogochukwu
yeah check out those guys. They are pretty cool and the course is on discount right now. I'm not sure the reward curve changed the curation reward curve to be honest.
@cryptoctopus,
Invest on SP power means we take a stake from reward pool! Where can I get the daily reward pool details? I have this question from the day one and still don't know the answer! Is there any kind of tool to get a clear idea about this reward pool status? If you know please share it with us!
Today you showed us a great example of value of SP! I will try to increase my SP soon!
Cheers~
I have seen that info somewhere but as you wrote it would be good to have a tool!
Very interesting
if you good man
please upvote my post :(( @cryptoctopus https://steemit.com/smt/@angelsmith/the-people-chocolate-eyed-more-trusted-true-or-not
This is so interesting and i am new at this but learning a lot.
Jus read in the internet .. check sites like 99bitcoins.com . Also download app called " feebly "
@cryptoctopus - Oh my goodness, $17 in a single vote :O ..... Sir, this is outstanding SP.....
One day Steem price will reach to more than $10 & you will be the Next Bill Gate Sir :)
+W+ [UpVoted & ReSteemed]
This could definite be that next thing.
Wow this really is amazing,,, cant wait for that year.
fantastic post my friend, many congrats on buying 10k steem at a very right time, no doubt you make a really wise decision and you are absolutely spot on with your steem predictions, i also think it's great time to buy steem and power up, as soon as i manage some cash i would defiantly buy at least 1k steem, because i truly believe that this coin and steemit has great potential and with every passing day more and more reputable peoples joins in and steem is growing slowly and steadily and we should definitely see at least 10$ in near future, you also tells us about another good service to trade coins easily and i should also try this, thank you very much my friend for giving us good suggestions, stay happy and blessed and have a very cheerful week end ahead.
I wish i would have not put off steem for so long while i was chasing all these new ICO's.
Remember that this perspective is powered by hindsight.
I kick myself after recovering from beating the crap outta myself due to a hindsight perspective.
Wait, what? lol
This is very useful to know. Of course not everyone can afford to power-up 10,000, but it's gives a good idea about what it would be like if someone powered up 5,000, 2,500 or even 1000. Thanks for sharing!
thanks for this information sir......
Is that Bateman?
That's the American Psycho, I think.
I am also trying to earn some steem and steem power. This is a motivational post for me. I will try to earn more. Hope to have some luck and bit of steem
I am just getting started. I'll add you to my list.
Way to put your money where your mouth is ππ½ππ½
One thing I don't play around too much with is bitcoin, I invest a let it grow passively. Bitcoin mined earnings I move to passive growth, all other crypto is up for moving and used in places where I feel the purpose of the coin or token is of value to communities.
Nice insight as to how you go about making things happen @cryptoctopus
Thank you for the real informative post, still a minnow but striving to one day have more steem to power up, awesome returns!
Very good article for a newbie like me who is learning steemit. I wish I could do the same as you did but bad luck I don't have any extra money to bring here. But I'll certainly power up if I earn some here.Hopefully, I can do that.
Thanks and Best wishes to you @cryptoctopus.
Sometimes I feel I found steemit the wrong time because I found it when I had no money to power up but we are still in the beginning and there is hope of powering up before the price goes too high.
I often wish I could vote people for more than my steem power allows but all that would change soon, hopefully. Thank you for sharing the links and the personal experience. I am definitely checking them out.
Rich content. Following now.
Insightful one boss but, i have only about 100 STEEM here that i could power up. However i'm in the middle of convincing my dad to let's buy and stock some STEEM.
If he eventual thinks his 19 year old boy is right on this investment advice then i win and ogg yeah steemit wins as well.
amigo #resteemia at your service
10,000 steem :) that's fantastic news & you give us a well guide. excellent work @cryptoctopus
ReSteemia
'UpVoted ReSteemed Commented'
What a way to look at the real value of steem and steem power.
I'm really noob in crypto and posts like this is really encouraging. Thanks!
I try and follow your advice on steemit, I may not have alot of influence or steem but Im getting there and with posts like this , anyone who follows this advice will be good. Thanks @cryptoctopus
I would like to reach you one day! You deserve even more power! Upvoted!
i think its time for me to power up since i have a few etherium on my polonoix site, this will be an interesting experiment , maybe it will help me with my post. thanks alot for the tip and advice
hey that's a great little post. i think you are spot on. a great place to park your funds. been around for a while, great community. spot on. and that buying the dips and putting in one pot and transferring to another. yep. that's investing in your future self. all power to you! :)
Just another perspective, however, I wouldn't simply "park" funds in Steem. It is still subject to the movements of the larger markets that it is a part of. I would only park funds in Steem if you are also actively generating interest in the form of further participation on steem. Just my two cents.
absolutely valid reasoning. some people don't have other options to put 'savings' in anything, so i guess i should have formed that answer better. but absolutely agree. i really should not power down at all but sometimes i need the funds to help with things. always welcom to spend those 2 cents in comments! :)
Wow Very inspirational post for steemit lover. I am also planning to buy some steem and power up. :)
BTW I didn't know about this tools https://steemworld.org
I checked it. quite awesome.
Let's do it, I finally got the sliding voting bar, oh yeah, that's right, I'm big time now !! (-:
definitely some funny and interesting calculaltion. steem is like a share where you get some extra dividend if you hold your steem long enough.
if you are active it pays even off even more.
Amazing and inspiring post. Keep up the good work.
Nice post. Steem is at bargain price at $1.
Buying and selling this market because of the volatility is a good idea, but don't forget to hold some coin on the side, I'm squirreling some away also for the kids.
An excellent indicator, I think that having now 10,000 I would have felt much better, but for now, still strive for it. However, you showed an interesting site and you should visit it. Thank you @cryptoctopus
Thanks too much to you @cryptoctopus, for sharing such an amazing and useful information. your reaserch for that topic is awsome. best wishes...
FOLLOW
UPVOTE
Thanks for that information sir,. I will always look for your post, so that my knowledge will increase about what am I entering ,by reading your articles π
Sir may I ask , how can we transfer Btc to sbd? Or sbd to btc?
And thank you for giving us a better suggestion sir ππ
That's one hell of a trade you did there, I wish I had that kind of money, who knows some day!
so now i know..!!!!! :P
That is, for 10 votes you get $ 170? In a day? Then investing in Steem is an incredibly profitable investment!
You give, not get :-) but you can off course give to yourself :-)
yup...that's if I only voted on myself. (but I don't do that)
wow very good information friend maybe so will be easier and will get to the bigger friend, thanks for the information
Be interested to here more about the entire process. So you power down steem power when steem is high to buy bitcoin or you use sbd to buy bitcoin?
I Sold STEEM for bitcoin on bittrex then sold bitcoin and bought steem.
Thanks!
Thanks for the link to https://steemworld.org! new to steem and learning a lot here! Do you have other usefull links like those? Keep up the good work!
I like your style... when everyone else is going crazy for the bitcoin fork... you take advantage of the alts on sale. I wish one day I can get to that level.
I wasn't aware of steemworld.org. that site is amazing. Thanks for sharing the information. Bring on the STEEMS.
I TOTALLY agree with you on this my crypto friend! My 'stache was tingling and I also bought Steam with some Bitcoin when it hit $.99.
I think it is a steal at 0.99 and I will continue to accumulate at that number. How long have you been on Steemit? I am still sketchy on how much SP you need to amass to go from minnow -> dolphin -> whale (=70+?)
Anyways, good stuff thanks for sharing!
I always appreciate when people like you post this kind of information. Really puts things into perspective and we can all see the math add up in front of our eyes. Thanks again.
It's a very useful post for me! Before Steemit i didn't know about all this crypto stuff so now i'm starting to learn about it. Thanks for the source where i can get more info and keep posting about it pls!!! We will be very thankful for this cool information!!!
Good article, very well explained. Possibly STEEM has a greater potential than Bitcoin.
Upvote & resteemed.
holy tities, not a bad earning on curation
My first step to powering up, I sold a lot of my saved sbd inorder to power up but at the end of the day I ended up lossing out, this was because I had no single idea about trading and powering up.
Today I asked so many questions about cryptos and I was given some great lectures by my friend @ememovic. From today I have decided to pay more and close attention to anywhere crypto news arises. I had no single idea about cryptos and that is why I have decided to learn more.
Thank you for this helpful tip on powering up, I consider it very helpful.
steem power is a great thing to hold onto thanks for sharing more about it and thanks for the app link :)
What a wonderful thing to power up so much Steem :) I recently spent nearly all my bitcoins (0.17 to be precise) on purchasing Steem at 32000 satoshis with the hope that the price will go up. It didn't go up, however, and I decided to power up most of the Steem... and to be honest, it felt good :)
Thanks so much for pointing out steemworld and learncrypto.io. I can tell that both of these are going to be of value to me. I was not aware of either before reading your post. Thanks again
Keep up the good work! The more steem power you have, the better off you are going to be in the end! Im using a 50/50 payout for my posts, so I can withdraw steem dollars as well.
thank you for the article. useful information for a newbie like most of us are. at the moment, i don't have so much to invest in steem. i am soo new to this platform, so i give it a go to check how it is for plain earnings only from posts and comments and then in a couple of months i can do some extra ;)
This is great info. Up Voted.
I'm in the process of putting together a course in Technical Analysis which will appear here on Steemit.com, that will explain in easy to understand layman terms, how to analyse price data, spot trends, dips, reversals and more. I'm an experienced analyst, who was known for one of Europe's leading online trader training courses from 2003/2010. I used to educated private traders both my own clients and clients from brokers such as Man Group PLC, on how to trade sensibly without losing their shirts. Analysis is more visual than technical [trading is full of jargon to confuse, to put off the man in the street]. If you are interested then please follow me, as I aim to have this course come out gradually over the next few weeks.
I've been looking for a platform that will reward the work I put into the course and the value those will gain from it. YouTube won't reward me accordingly and then I came across Steemit.com and it's perfect. If people like what I do, I get rewarded and so do they. Fabulous.
This is where I aim to be of service to everyone in the Steem It community. Oh and I also have a witness server too :)