Steem power is the heart and soul of Steem and Steemit and shows a long term commitment to the ecosystem , it is fixed and can be achieved through powering up your steem. Even though it takes a while to power down to steem , there are , still a lot of advantages of accumulating steem power which was explained handsomely by @kevinwong , @lukestokes , @shredlord , @zeartu and @liberosist (to mention only few) some examples are : influence on upvotes (down votes) , curation rewards , gains in interests, grow your share of steem overtime , be a co-owner or even invest in a platform that you love and trust thus it gives you the power to have influence in the future of social media. However these advantages goes with a big responsibilities.
With Hardfork 18 came : the ability to Delegate Steem Power to another account. This has several benefits :
- Creating accounts with a lower fee.
- Donating your SP to curators you trust.
- Combining your SP from different accounts to a single voting account.
Moreover, large amount of delegated steem power has given rise to a lot of great projects ,see @benjojo blog post for some examples.These projects were funded with large delegated steem power either directly or indirectly through post upvoting - thus making this platform to be more entrepreneurial and innovative. Some of the projects are:
- Humanitarian and charity fund raising projects
- Steemit music and Radio community projects
- Scientific medical research
- Sustainability projects for farmers and green concept lovers
- Entrepreneurial projects
- spam and plagiarism fighting bots
Even though delegated steem power has been great for our steemit community, it is, however, not without its limitations:
- Mass up voting scam and spam see my former blog post
- Exploiting the reward system to benefit few members
- Rise in weird up voting bots, scamming poor minnows of their little money
- Abuse of power through flagging wars- see my former blog post here .
Conclusion: Steem power is among the best investments (in my opinion) in the blockchain segment with a lot of advantages which are indicated in this article. Moreover, delegating a lot of steem power to good people who will use it wisely to do good is great for our community . On the other hand, it can destroy steemit if it is delegated to those whose interest lies on greed and exploitation.
What do you guys think?
- Delegated power is bad for steemit
- Not all delegated power is bad
- I do not know what you are talking about and thus do not care
- Delegated power is good for steemit
Send in your comment, please resteem this for others to join and up vote to send your support.
Please join us to fight spam and scam on steemit- read my former post: How Spam is killing steemit and what to do about it
Steem fails because there is always a way for the bigger fish to eat more then the smaller ones. Too many holes in the systems. Like voting for myself :)
@paco feel free to see my former blog posts which elaborates more on issue we face here. Feel free to send in your comments there too, I support you buddy and following you in order to stay in touch and send in my support. Keep steeming and powering up to more success and lets stay in touch.
Will follow also....thank you.
welcome and keep up the great work and reward yourself handsomely for powering up...you have my support...hiyaaaaaaaaaaaaaaaaaaaaaaa
:) thx bro
welcome, feel free to see my latest post and send in your suggestions...bless you.
@paco is right, but shame on you @paco, how can you vote for yourself....
still, i consider ok to vote your posts but no your comments.
I don't have time to blog. Just quick comments ...i work for a living in construction. If you have invested like i have wouldn't you do so yourself? It's one of the reasons why i keep investing more and more. Take this away and im powerdown and walk away like i have in the past. No problem....bitcoin is looking better to me every passing day. Don't worry i'll vote your comment too. I am generous. :/
well said....take the away the incentive for people to invest in Steem Power and they will power down, which will result in 5 cent Steem.
you have my supprt, power up and reward yourself handsomely ...good job @financialcritic and @paco more success to you guys
You are too kind!
welcome, always and ore success.
However how come you and @pac missed to make it in this edition? see
https://steemit.com/project-smackdown/@personz/project-smackdown-week-4-report-last-report-on-v1-algorithm
haha, guess that you bribed the cat with milk and fish
Thanks !!! I really like Steemit and because youtube is doing worse and worse we (me and my colleague) are trying to find alternatives for our passion :) and i hope this will not be a failure...
Depends...there are still lots of great people and projects here...not all are bad
In addition to this your comment, I think that scam is an issue and too much supply too-see my last 2 posts for details. I explained some points about scam in steemit-feel free to see it and send your suggestions on what to do. More success
Will do thx
welcome, looking forward to your comments / suggestions on my posts
steemit is a system for making the rich richer and for the smaller fish to look for the small rewards.
I just got delegated 500 SP from minnowbooster as part of my Grand prize for winning googlyeyes this week (& about 6SBD).
As a hardworking, content creating minnow with only 500 SP, (all earned on a 50/50 split from my hundreds of original posts, this effectively doubles my curating influence for a period of 4 weeks and I think it's a good gesture.
It will encourage me. I agree that like all systems it can be abused or misused but that's where steemit will have to constantly refine and close loop holes as they are found. just like laws are update to reflect changes in society, new and sometimes dangerous phenomena !
we'll see if my 500 SP uplift makes a difference. It might encourage me to earn 100% SP and leave all my steem in the system ?
I just gave this post a 100% upvote @charles1
Very good comment. Will also like to acquire my own sp...can delegated sp upvote comments...
it's great having some delegated steem. Imagine what's it like having 100,000's ! to play with !! whale up a bit
will do and once i do...i shall shower that sp on a good steemian like you @outerground
i updated a new post... check out my blog and support!
thanks
I agree with you and am sure that you will make lots of money with your delegated power because you are hardworking. Thanks for your comment and more success to you.
Excellent work dear friend @ charles1, a very interesting post.
Delegating power is not at all bad, as long as you have delegated the correct account.
Thank you very much for promoting the previous posts that refer to the abuses and spam
Have a great day.
welcome and thanks for your comment and support
You are on a roll with these posts and are definitely helping to educate the steemit community. I am of the mindset that delegated SP can be beneficial for sure. However, as always, there is abuse of it. But I would say the charitable causes outweigh many of the negative ways some individuals are using it. Upvtd & Rstmd
I agree with you hence why I indicated the pros and cons ..thanks for your comment . Keep up the good posts and more success to you.
Great info! Thanks!
I love that picture!
Haha, welcome
I think Delegated power is good for steemit newbie
Good point. It is also good for all those who use it well.
@blueorgy do you agree with the post about the advantages of delegated steem power plus the downside-especially relating to my other blog post about issues of spam at steemit(pls see it). I am sure you guys are doing your best for a great platform...keep up the good work.
Hi @charles1, I see you have mentioned me.
This is automatic bot response so that I may respond to your mention later.
Learn more about this bot...
Yes, welcome @blueorgy
As always your post is on point...I think delegating steem power helps steemit a lot...thanks for sharing.. Upvoted
welcome and more success
k...thanks
Yes, Im a new one to all of this and steem seems to be amazing.. with a few flaws that we should all learn more of and try to share. lets get improving guys!
You are correct, thanks for your comment
I think delegated power is a great way for newbies to the system, people like me, to experience the beauty of steem power before they earn enough to invest on it. Awesome post.
Good point indeed, thanks for your comment.
You welcome :)
steemit is a system for making the rich richer and for the smaller fish to look for the small rewards.
Good point however that is true of capitalism and so called free market.
hi my friend this post is great thank you foe sharing please visit my page and read my topics
https://steemit.com/travel/@vahidrazavi/harbin-festival
welcome
@charles1 got you a $1.68 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
Thanks bot
Like any power, it can be abused, but the pros outway the cons in my mind.
The same here, I agree with you. Thanks for your comment buddy.
Always, my friend.
welcome, always.
nice
UpVoted
good luck
Thanks a lot for your comment, more success
Great comment & Support. Keep it up
This post has received a 5.87 % upvote from @booster thanks to: @charles1.
Thanks bot
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by charles1 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
Thanks bot
Hmm I think it just depends on where the power ends up. If it ends up in the hands of someone bad, then that would not be good. But I think the intent was to empower others.... which I think is totally awesome. Nothing is ever all good or all bad... just is. :)
@karensuestudios
Your comment is awesome...
Truly I hope most delegated sp gets in a kind and good hands like yours...;)
Do you have some?
aww thanks! :) I have some but that was given by the system, but no one has delegated me power yet. Would be an amazing opportunity if that did happen! :) There are so many awesome authors here I would love to support.
very correct... i for one will try to have some to dedicate it on your posts...;)
find time to check my new blog posts... am sure you will like most.. keep steeming hot!
Good point, hence why I laid out the positive and negetive side isnt it? thanks for your comment my dear one.
thanks for the awesome blogs :)
you are welcome and thanks for your comment
😋💙👍😋💙👍 same to you my beautiful lady.
:)
That really depends. I yet haven't seen SP delegated to not trustworthy accounts, but in your previous post you said different. In fact I wonder how do people receive delegations in general.
Delegating power to someone is not hard. You can even delegate SP for a price ...maybe for 1 Month . Its not bad if the person uses it in a positive way. Thanks a lot for your comment and support. Bless you
I'm still learning, but I think that delegating Steem Power is good. I imagine it has its downsides too like you mentioned. I opened a second account by delegating some power to it, but have run into a problem with the short password so have not been able to properly set it up yet. I think I will have to type the password in letter by letter, as I likely have some weird character inserted in the copy and paste.
I guess so. Copy and paste does not work for me too
So, I am not alone! I have not been able to use my main password for this account after logging out. I tried it and it didn't work. I'm able to use the posting key, which is what I need for now anyway. I just wanted to try out the different keys!! I will need to type all 52 characters to check it out. Lol!
Try to copy and past on your computuer search space and then recopy it and past..see if it will work
Not sure what you mean by the computer search space.
search engine space
Welcom
Just follow n upvote me please
Not all delegated power is bad ;-)
I agree
What would Google think about delegating? Whatever Google thinks is EVIL. Do the opposite.
https://steemit.com/conspiracy/@davebrewer/google-is-pure-evil-the-full-implications-are-just-hitting-me-now-google-is-pure-evil
Point, thanks for your comment.
I agree , Great post by the way !! I don't understand how delegated steem power even works , I used to have some ( + steem power dollars in brackets ) but it was all gone awhile ago ! never even knew what it was or where it came from ! LOL! Steem on my friend !!👍👍👍💙
welcome and thanks for your comment. Some whales with large steem power can delegate some to you, say 1 month and you can have whale power to make people happy and punish bad boys who dont eat you food 😋💙👍😋💙👍
Hahaha !! Now that would be fun to be whale !! LOL! How did I even have( +) Steem power to begin with , now I have none !?
The platform gives all new members some steem power when they join new in order for them to be able to vote and be relevant. However as time goes, you start being independent and grow your own steem power
haha this I know ! But what I was meaning was that after hard fork 19 I had a certain amount of money in steem power / in the brackets under my other steem power money with a plus sign ! Like this ( + 12345.00 ) or whatever the amount was , I don't remember , but that's all gone now and only my original money after powering down is there . I have no idea what this bracketed money is or was ! My son has some too !?!?
is the steem power delegated to the account...I think for a certain period of time.
I have no idea !? I think so , falling asleep , good night ! 😴😴😴
Great post...Im a little uneasy about it but i'm still learning. I do like the idea of delegating to social enterprise and charity!
Yes , its great for good causes and those who use it well.
Delegation of Steem Power can be good and bad.
If you don't have the time (or desire) to manually curate, donating some of your power to someone who has similar values to yours allows you to vote by proxy.
The downfalls you mentioned above are all true. Upvotes (whether original or delegated) can all be abused.
For myself, I Steem close to full time. Someone has been kind enough to delegate power to me, so I curate based on value I find in other's posts. I always curate manually and I know I'm not abusing the system.
For some, delegation toward "bought" voters is a mixed bag of good and bad. I recently wrote a post suggesting that minnows use the bought votes to support each other instead of themselves. Sometimes the "bought" votes are used to promote crap and other abuses.
Overall, delegation has good and bad purposes ... but so does Steem Power in general.
Good point, I agree. Thanks for your comment.
My P.O.V.
Delegating steem power to good people is great for our community
Thanks for sharing..
Great content as always
welcome and success to you. Thanks for your comment
It's a good point, I am kinda torn. On one hand I think it's good but on the other is yet another method that can be abused. Hmm!
Good point @meesterboom , they rather delegate whale power to bot of us because we will use it wisely...
I think so. I think we would be an awesome yet careful bunch of curators!
Absolutely and thus earn enough to buy some extra high quality scottish cream and beers Hiyaaaaaaaaaaaa
I can't think of anything better!! Hooray!!!
Same here buddy, amen for that.
It is not easy to please everybody and steemit still has its flaws. Living with two of the founders of Peerity.io I know how hard it is to build a platform like this and the voting system might not be the right thing to do... we'll see once peerity will go live if no voting but rewarding activity (both on and offline) is the better way to go. For now, I like the delegated power and I'm sure these people have a hard time choosing which post to upvote and which not. have a great day.
You are right hence why I outlined the pros and cons. Apart from being addicted to your yummies, I do like altcoins that are sleeping beauties...can you pls let me know what peerity.io is all about? love to be early adopter of an amazing tech.
No worry, I will still eat your food. Thanks a lot for your comment, wish you a blessed week.
HAHA you make me laugh... I really like that you added in "I do not know what you are talking about and thus do not care" I bet that's a very popular answer to be honest.
I on the other hand, of course have my opinions on the matter at hand! Delegation when used for good is an amazing component to this platform. Why? Well because it is simply unrealistic to think or believe that we can possibly manually curate all of our allotted power away without spending astounding amounts of time on here or voting for the sake of voting. I am completely in favour of 'spending' my voting power on content I care about or support but then I have to find said content. That's where delegation becomes crucial for me. I delegate to @msp-creativebot which supports creative content on here. Isn't that wonderful? The bot votes on quality creative content that I might not have seen without it! Of course there is the other side of the coin which bothers me... now I haven't read said post. That's why I try to manually curate as much as possible but knowing I am also supporting authors by my delegation of power which might otherwise go unused, means I am supporting the platform and therefore delegating for the good of Steemit =D
Plus, I can check my ledger and see everything the bot voted on with my SP, read the posts and therefore monitor what it's voting on and if I don't like it, retract my SP.
good point , I agree with you. And there is financial benefits to delegating steem power isnt it?
I am no expert on this so I don't know the percentages but if you delegate your voting power then yes, you'll receive curation rewards on whatever your power votes on!
Good point and another advantage is that at least you can relax and do other things without spending all your time online...
are we addicted to steemit? my latest post indicated that both of us might be and still love it...haha
I have my ups and downs lol sometimes I am decent, not addicted, still managing to have my regular life and then there's other times where I am completely immersed in this world, making it my mission in life to share something on here :P
Delegation does help though, that is the reason I originally got involved in it. If I don't have enough time to manually vote as much as I would like, at least my VP is being used to vote on content I know I support.
=D I really like the creative bot because it votes on creative content <3 I'm interested to hear what you end up choosing!
In my latest blog post (feel free to see it) I indicated the cons of such issue. Bots are great too especially if you want to make more money via curation awards however there are limitations. I here that minnowsupport pays well for delegated power...havent used it
To be honest, I don't know how well it pays, I don't ever check the payout, it's not really important to me as long as the people who I believe should be getting credit are =D MSP has different curation trials for different interests so if you're in the market you could check it out. It all depends on what your end goal is, mine using this method is to support authors I wouldn't have been able to otherwise