What is a Steem Delegation?
When you have Steem Power, which is the Steem crypto locked into your account for 13 weeks to boost your upvote/influence. It also becomes illiquid and you get 13 equal weekly payments when you decide to power down(cash out). You can "delegate" or lease your Steem Power out to another account, or you can pay to lease someone else's Steem Power.
What was my experience with a Steem Delegation?
A few months ago I bought a couple of different delegations whenever Blocktrades opened up their services to 30 or 90 day Delegations. The first one was dirt cheap. I got 35,000 SP delegated to me for 30 days for 0.11 Bitcoin. I then later bought another delegation for about the same amount giving me around 70,000 SP total for around 0.2 Bitcoin.
I earned a lot of Steem Dollars during the time that I had my delegation. I didn't hoard all of my upvotes, and I hooked up a good friend of mine and my brother with a good amount of influence. A couple other friends of mine did some minimal posting and I tried to get them more involved, but they never gained interest.
I also gained a lot of Steem Power. I started this journey with 2,000 Steem Power and I am now at 8,377!!! I also managed to get some other cryptos like Smart Cash and AGI(SingularityNET) through posting and getting curation rewards as well. Having 70,000+ SP can really get you some good earnings if you upvote your own posts, which would be silly not to do if you paid good Bitcoin to get the delegation.
All in all, I think it was definitely worth it. Not only did I get a lot of Steem Power, Steem Dollars, and other investments out of doing this, but I also greatly enjoyed myself. It was very fun to write about cryptocurrency and to reminisce on the past when posting throwback pics. The Steemit community is great, and many more amazing projects will be built on the Steem Blockchain in the future.
What's next for @bwells?
I am still planning on posting to Steem, but it won't be as frequently now that I don't have as much influence. I am leasing out almost all of my 8,300+ Steem Power with MinnowBooster to gain residual income with my current holdings. My goal is to cross 10,000 Steem Power and to see it hit $100 each.
I am currently working on a YouTube channel for cryptocurrency, a marketing company that I own with a friend/business partner of mine, I am an advisor for a cryptocurrency being built with the Steem Blockchain, and I am on the team for another cryptocurrency startup.
Stay Tuned and thanks to everyone that has helped me along this journey!
To the moon,
Good luck with the adventure
Congratulations dear keep prosper in steem community
Nice content men! I am excited about you YouTube channel I want to do this too.
I am new on steemit I upvoted you and follow you :)
Best of luck on your future ventures, sir. I am looking forward to gain some steem power too but it is very difficult to move it up without any solid investment like you did.
Your writting article&skills is superb @bwells (Best Of Luck For Future)
Looks like you earned like $10k. I would say do it again! That's a nice income for 1 month 😀
Although I don't think you earned this via self upvotes. I think only $1-2k came from self upvotes. Or am I miscalculation somehow?
I have a question, let's say I lease some SP, and my account is breached, can the hacker steal the delegated Steem Power?
I can't wait to see your post on how to do this,i would also love to do the same..
Anway @bwells trust me it was really worth it,
If you can transfer me some power, I can do nice things for the #tr community. The #tr community still needs a developing community and Support. Good luck bro. Thanks for everything.
love all your posts you always seem to capture the right topic to talk about
i feel like this post deserves to be resteem therefore you worth a follow
asam post hear my boos