Would you like to know what is my strategy to gain and use SteemPower because this might be useful for you? It is important to have goals and a strategy that works on Steemit to see your account grow and stay motivated.
In this post I am going to show you how I gain Steem Power, but mainly how I use Steem Power.
My Strategy to Gain and Use Steem Power!
I have just reached 4,000 Steem Power and I remember being at the 1,000 SP range not long ago.
I have been on Steemit for a year and my goal is to reach 10,000 SP at the end of 2018 with buying and earning Steem. I know this might be difficult to reach 10,000 SP only earning it, so I will buy some more as I can. I believe that after I reach that goal it will be easier to earn more SP, and reach a goal of 10,000 Steem Power earned.
Managing Steem Power
The first thing I do is that I manage my Steem Power and record my progress in a Portfolio on CryptoCompare.
As you can see I have bought $4,165.75 worth of Steem Power in my first year, and even with a very low Steem price, I am still at $3,219.83 profit, for a total holding of $7,385.58.
Each time I buy Steem Power I record it with CryptoCompare.
You may be interested to read my previous posts: An Overview of CryptoCompare, Have You Joined Yet?, How to Create your Cryptocurrency Portfolio on CryptoCompare & Get Real-Time Info and Prices for Steem with CryptoCompare
I use *BUY #00 when it's a purchase and REWARDS 00 when I earned STEEM. I update the Rewards entries every month, I look at my total SP minus what I bought and previous rewards recorded.
There has been some purchases in the red lately, but Rewards are always in the green, whatever the price of STEEM.
When I add one entry using the "+ Coin" button and it is a reward, I always use the number of SP earned for the month at $0 because I have earned it through writing posts and delegation.
Doing this shows me precisely where I am in my progress to achieve my goal and motivates me to continue growing on Steemit.
Earning Steem Power
My strategy to earn Steem Power is first to write quality posts daily. I write posts that I enjoy writing and that I know will be useful for readers.
As you can see, I have written 195 quality posts, and one post is taking at least one hour to write.
You may like this post: Receive Awards for your Achievements on Steemit!
Then, I set a budget to promote each of my posts with bid-based bots. I started with 5 SBD per post and to a maximum of 20 SBD, and now I am back to 8 SBD or 10 SBD. I do not use any of my money to promote the posts, the amount I put in to bid depends on what I get in rewards from previous posts.
Now that Steem is low, rewards are much smaller, so my promotion budget is down accordingly.
You may want to read: How I Use Voting Bots!, How to Select your Bid-Based Voting Bots! & New Improvements in Steem Bot Tracker!
Using bots has always increased the amount of SP I gained in rewards, while the SBD parts is spent back in promotion for newer posts.
My second strategy is to not keep my Steem Power idle in my account as I do not have the time to use the voting power I have daily myself. I delegate SP to bid bots or community bots so they can use my voting power and I get a return daily for the delegation.
If I kept my Steem Power for myself, my vote would be worth $0.48, I could give myself one of these vote for each of my post and do some more curation.
I chose instead to delegate all I have so I can maximize earning and I bought a 90-day delegation of 500 Steem Power from BlockTrades for my use.
I found that buying a delegation for the SP I want to use, is cheaper than keeping 550 SP I own for my personal use. This might change, so making some calculation is a good idea.
My vote is worth $0.07 now and it's what I get when I upvote my daily posts, I then share what's left between authors I support that are in my auto-voter and I always upvote comments made on my posts.
See the value of your upvote here: https://steemnow.com/upvotecalc.html
When the price of SBD was $10 plus, I took advantage of that and exchanged my SBD rewards for more SP, and at that period I think I increased about 700 SP in a couple of weeks.
As the price of SBD and STEEM is nearly the same now, it's not a good way anymore, but we still need to stay on the lookout for future SBD pumps.
Delegating Steem Power
I have a selection of bots I delegate to and I will explain to you why I delegate to them.
I delegated the most to @jerrybanfield because this bid-based bot gives back 50% of its revenue to finance Steem projects. You can make a Steem budget proposal if you have a project and need help, and if accepted revenue from the bot will be used. Delegators get 50% revenue daily, it is pretty low, but you have the satisfaction of helping projects on the blockchain.
That's what I earn daily with this delegation.
I think I started delegating 1,000 SP, and then I increased my delegation as I got more and more SP.
Then, I delegate 800 SP to @qurator, which is a community bot where you need to write quality posts to be approved as a member. I also upvote them daily at 50% weight to qualify for the Copper level.
This is good to delegate if you intend to write posts regularly and want a big upvote daily for your post. Currently I get an upvote of $0.89 by @qurator at that level.
I started delegating 300 SP to them several months ago and I then increased that when they introduced their "Elite Tiers." I also plan to upgrade to upper levels as I can. How would it be nice to have a $5.25 daily upvote from them?
Members' posts are reviewed often, so don't think you can get away with junk posts…
My third delegation that I started last month is for @silvergoldbotty. It is a community bot as well where you have to be approved. A couple of months ago, I looked into them and the topic of the posts in that community was not really what I write, so I gave up on them until they changed their terms.
They opened to more topics and new tiers, so I delegated 400 SP with them to get started. Their vote gives me $1.14 per vote on my posts each day.
You also have to upvote their daily post at 100% vote weight if you have less of 1,000 active SP.
I will surely delegate more with them because being at the "Gold" level would be very nice.
I love delegating to community bots because they not only give you big votes on your posts, which is a motivational factor to continue writing, but they upvote other quality posts by the community.
I am guaranteed at least $2 for each of my posts with votes by @qurator and @silvergoldbotty and that's great. When the price of STEEM increases, this also increases.
The last delegation is for @tipu because I like what they are doing. It is a bot you can use to send tips to your favorite authors or other users on Steemit.
They give back 100% to delegators + 50% of the curation rewards, and I started with them last week to see how it is going. I have much more to learn about @tipu, and I might write a post about them soon.
I delegated 296 SP with @tipu and this is what I get daily with them.
Conclusion
All that I earn with delegation and writing posts are used to delegate even more, and then receive even more daily pay outs and rewards.
You can start small delegating and writing posts, and use the compound effect, which is re-investing what you earn, to make even more.
This means that you really need to see Steem as an investment and not a website where you withdraw daily profits.
I hope you have enjoyed this post and that it is useful for you.
Would you upvote this post and follow me for more because this will encourage me to write more posts about Steem like this one?
Would you please help @jerrybanfield become a top 10 witness because you can help funding projects to build Steem as explained here? Vote for jerrybanfield as a witness or set jerrybanfield as a proxy to handle all witness votes at https://steemit.com/~witnesses. Read the 5 reasons why I'm voting for Jerry Banfield as a witness and how to vote in my post.
Michel Gerard
Setting goals and moving according to plan is very important to achieve anything.
Wish you all the best, @gmichelbkk! :)
Thank you @ground2feet for your support. Really appreciated that!
Thank you very much @rezoanulvibes.
That is alot of very useful information.I am still confused on this.To be honest I have just been posting and commenting and upvoting.Thats all i know.I haven't even looked into the dynamics and how you can make your steemit work better for you.Il be book marking this.Need alone time to decipher this as the kids don't let me do anything.lol
Thank you @pamcooks for your comment and I am glad if this can be useful for you.
I started SP delegation with @tipu few days back and I am liking their service so far. Even 1SP gives a payout of 0.001 SBD which seems good passive income. I know its not much but still. Lets see how it goes! As I grow I might try some of your suggested services. Thanks @gmichelbkk
I am glad this is working for you and that you have started delegating after reading my post.
Great article with tons of valuable information! I am going to try and use some of your ideas and hopefully grow faster here on the platform!
Thank you very much @ground2feet for your kind comment. I am glad that my post motivated you to try some of my ideas.
Thank you for this valuable information. it is exactly the type of info I am always looking for. Understanding how things work here is the key to maximizing your time and returns. I wish I had money to purchase SP but it is not to be. In the meantime there is lots here for me to study and follow. Continued success to you and I am sure that you will meet your goals. Also I am following. Please do keep in touch.
@thaicryptokitty, thank you for your kind comment and follow. I am glad that my article is useful for you.
Wow! Really nice strategy you got there, taking advantage of bid bots by delegating and co. Steemit is really an investment for you. I think I'll follow this strategy once i lay my hands on some funds. It's really a good way to maximize your sp and gains on steemit. very valuable information, Thanks for sharing sir
Thank you @emma001, I am glad this is useful for you.
Thank you so much for sharing this extremely valuable information, @gmichelbkk. It is one post worth bookmarking, upvoting and following you.
I was wondering, would you have any advice for someone who got nuked by a mega downvote from nearly 47 to 4 on 2 comments someone didn't like? Some have encouraged me to just keep on posting. Then I herd Ned say in a video that after a heavy handed downvote one's ability to regain their rep score would be dramatically hindered. So I tested it out several days ago and discovered it takes 5 times the upvote earnings as before to regain my rep. So I was wondering if you might have any advice. Thanks again.
Thank you @positivesynergy for your kind comment and I am glad the post is useful for you.
I don't know much about that, but I believe that if you have quite a bit of SP, downvotes don't do that much damage. Maybe the solution would be to get yourself some more SP and continue writing good posts.
Thanks for your reply and suggestion, @gmichelbkk. I'm still considering that. In my case it's a bit complicated, as the downvoter has well in access of a million dollars in SP.
Don't tell anyone I said this but you may consider signing up for EOS when they launch in June. Keep a presence here and create a new one over there. Perhaps you can use the same name. Frankly, their must be a better way for people who disagree than to destroy someones work with a couple of flags. It's not a good thing in my opinion to be able to do this as it inhibits one from sharing their true thoughts. It's kind of like a preemptive censorship. Not good. Blessings.
I agree with your comment @mistermercury. This downvoting is what I hate on Steemit as some people feel so powerful being able to excessively punish others.
I was just looking at a similar post that was addressing the destructive use of flags, etc. Perhaps you might be interested. Here tishttps://steemit.com/steemit/@scottcbusiness/the-downvote-proposal-a-solution-to-the-flag-crisis#@mistermercury/re-scottcbusiness-the-downvote-proposal-a-solution-to-the-flag-crisis-20180410t030546067z
Seems to me in order to retain people here on Steemit certain adjustments need to be made. Unhappy citizens migrate. The history of humankind.
Thank you for recommending this article, I will have a look.
I just created a post on this, if you care to check it out at https://steemit.com/steemit/@positivesynergy/warlord-downvotes-the-number-one-steemit-killer
Exactly! It's what probably most crypto enthusiasts really dislike of steemit.
Thank you so much for your suggestion, @mistermercury. I will certainly keep that in mind when they launch. I also herd Max Keiser mention at the tail end of his show when he interviewed Jameson Lopp of BitGo.com about Yours.org and I went and signed up there. It's far more simple and deals strictly with Bitcoin Cash, which I like, but lacks the elaborate blockchain scheme steemit has where your invested SP gives you voting rights to give away that portion of the reward pool. EOS does sound interesting.
I agree there must be a better way than to allow whales like that to have so much power to destroy someone on steemit. I even found a video where @Ned said,
I don't get that they still haven't done anything about limiting that biggest issue killing the brilliance of steemit, given he said that nearly 2 years ago.
I know a few Steemit stars that get downvoted frequently and their reputation doesn't go down... There must be a solution and I will study that more closely.
Thank you so much for your attention to this. It may be that they really do have enough SP and the other doesn't have enough to move it or maybe at the same time they get enough upvotes to compensate and not allow the difference to be seen. It really is the number one deal-breaker of steemit.
I just created a post on this, if you care to check it out at https://steemit.com/steemit/@positivesynergy/warlord-downvotes-the-number-one-steemit-killer
I will.
Thanks
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Very helpful information, thanks!
I am glad you like it @tonyz.
Just about ready to book a flight to Thailand to attend your "Steem Up Your Life" seminar. It would be very worth it I am sure. Am going to resteem and share with my daughter @littlescribe. Blessings.
Thank you very much @mistermercury for your kind comment and the resteem.
Thats a solid post :) @tipu upvote this post with 0.1 sbd (would use more but it is vote power recovery time :)
Thank you very much @cardboard for sending an upvote with @tipu. I appreciate it very much.
Hi @gmichelbkk! You have received 0.1 SBD @tipU upvote
from @cardboard !
@tipU! upvotes with 220% profit and pays 100% profit + 50% curation rewards to investors :)
Your post had been curated by the @buildawhale & @upmyvote team and mentioned here:
https://steemit.com/curation/@buildawhale/buildawhale-curation-digest-04-15-18
Keep up the good work and original content, everyone appreciates it!
Thank you very much @nicnas for curating the post.
Your post had been curated by the @buildawhale & @upmyvote team and mentioned here:
https://steemit.com/curation/@buildawhale/buildawhale-curation-digest-04-15-18
Keep up the good work and original content, everyone appreciates it!
Hiii @gmichelbkk, Really great strategy, i agreed with your thinking and planning. i also try to do as you done. appreciations for you.
@rabeel, thank you for reading and commenting. I am glad this is useful for you.
You're really maximizing bid bots in a splendid way to your advantage in growing your steempower and I could as well as apply your strategies, your blog is rich with do much information sir, quality all through
Thank you @josediccus for your kind comments because this motivates me to continue writing.
sir ,,,its need to strategy,,great post
Thank you @masterlegend.
Your writing is very beautiful to me.
I hope a better write in the future will give us gifts.
Thank you for sharing your beautiful writing.
Thank you very much @aman0198129 for your kind comment.
This article was very informative. I tried tipu. I like that they accept small amounts. I can't even imagine how I could possibly get to where you are but I'm learning. Thanks for the strategy. I signed up for Cryptocompare. We'll see how it goes.
Thank you for your comment @omitaylor. I didn't think I would be where I am either, you just have to start small and put back into Steem and delegations what you earn. This way you can grow the account wherever you start.
I'll need to save this are refer to it, as I grow. Thanks for your in depth insight.
Thank you very much @solcross, I'm glad the post is useful for you.
best app for view cryptocurrency stats and signals https://usignals.com
Thank you @oetek10 for suggesting this app. Have you at least read the post?
This post has received a 4.30 % upvote from @booster thanks to: @gmichelbkk.
that was a very good strategy to grow in steem. great information
this is so nice of you to share these valuable pieces of information
I have upvoted you
can you please Resteem my post, as of my low steem power I can't bring light to it. so its a humble request to you to bring some light on it
https://steemit.com/crypto/@striker91/tron-founder-congratulate-it-s-representative-in-twitter
thank you
Thank you very much for your kind comment @striker91. I rarely resteem.