After being relatively "successful" with your Steemit blogging. You now have half of your earnings in Steem Powers SP and half in Steem Dollar SBD.
What is the best step forward?
With Steem Dollars SBD item in your wallet there are 3 choices:
Transfer
Convert to STEEM
Buy or Sell
What do these choices mean?
Transfer option will transfer your Steem Dollars SBD to any address that you will provide it. This means you can transfer these amount to either ANOTHER ACCOUNT, or to a crypto exchange that handles SBD.
Convert to STEEM will convert the value of your Steem Dollars SBD to Steem using the median price feed for conversion rate and you have to wait ONE FULL WEEK before the STEEM token actually appear on the first item in your account wallet.
Buy or Sell on the other hand will open the INTERNAL MARKET, where you can trade your Steem Dollars to Steem. (This gives you a lot of advantage, over the option of simply choosing the Convert to STEEM) because you can choose the rate that you are willing to trade your SBD and normally the rates in the internal market is higher than the median price feed being used in the Convert to STEEM option. Plus you get to move your funds earlier than one week.
Now that you know, what those options can do, which is the best thing to do?
I would suggest that you choose "Buy or Sell", for several positive reasons:
Your actions in the market will help the "liquidity" of Steem organically.
Doing so may open up some opportunity for you to grow your Steem holdings or Steem Dollar holdings. (Actually I would personally choose to grow the Steem, rather than Steem Dollar SBD.)
When you get more Steem, you can POWER THEM UP!
WHY?? Why should you want to POWER UP and imprison your funds for 2 YEARS!?
Many Steemit detractors have used that derogatory term of fund imprisonment so many times, It only made it obvious that they don't really know what they were talking about.
Everyone seriously involved with Steem and Steemit on the other hand know very well that having STEEM POWERS is very advantageous for the WHOLE STEEM HOLDER COMMUNITY, yes that includes Steemit contributors like you and me.
WHY?
To understand the importance and gravity of this point please do this simple test first.
Check out the wallets of those who have been pioneers in Steem. Do you see anyone of them holding so much tokens compared to STEEM POWER? No. Because they know and understand better the effects of holding them against holding Steem or Steem Dollars! (Did I leak a corporate secret there? shhhh)
No it's not a secret, its just that, many new comers into the platform has not understood the impact and importance of this feature of STEEMIT.
YES, POWERING UP IS A BUILT IN FEATURE OF STEEMIT!!!
Why would we call this a feature? What is the advantage of HOLDING STEEM POWER?
You see the effects of EVERYONE HAVING STEEM POWERS are far and wide.
When you realize that the founders and pioneers of STEEMIT all keep substantial amount of STEEM POWER. There are many STEEMIT wide effects.
They give the BIG AND SMALL investors, the REASON TO TRUST the platform and all the related projects of Steemit handled by this team. It shows that the STEEMIT TEAM are HEAVILY INVESTED too, and will not suddenly disappear, like some other crypto projects of the past.
These pioneers that hold large amounts of Steem Dollars SBD, have the ability to make a chosen(worthy of notice) post to be more VISIBLE, which act in a way, to filter what are more IMPORTANT for the growth of the platform.
They also have the ability to make HIGH IMPACT advertisements in behalf of STEEMIT, through the SURPRISINGLY HUGE AMOUNTS of rewards a particularly HELPFUL TO STEEMIT post.
They can even help someone get out of financial difficulty.
And a lot more other effects, of receiving a good chunk of reward from a post by a CONTRIBUTOR to Steemit may receive. ALL OF THESE, ARE HELPING EVERYONE. INCLUDING YOU AND ME.
Those are only the effects brought about by having huge amounts of STEEM POWER. (Yes it's very powerful!)
What about us, who may not make someone else's dream come true in 24 hours? WHAT DO WE GET BY POWERING UP OUR STEEMS?
There are several benefits for us too in keeping STEEM POWER.
PLATFORM support. - By keeping STEEM POWER we are doing our small part, to ensure the continous operation and GROWTH of this wonderful project which you and me are addicted by now. (CAN YOU IMAGINE THE PAINFUL WITHDRAWAL SYMPTOMS YOU WILL EXPERIENCE once there is no Steemit anymore to REFRESH every 30 seconds or less?!!). yes, better help make sure we don't lose this EVER!
REGULAR FINANCAL GROWTH - All the Steem you will power up, will GROW thru the regular interest, applied by the system AUTOMATICALLY, 24 hours a day, 7 days a week 365 1/4th day a year.
To compute for your actual DAILY INTEREST. Take note of your STEEM POWER at this time. Write it somewhere, set a timer for 60 minutes. After exactly 60 minutes, check your STEEM POWER again. Subtract your first figure to this number, divide the result with your first figure then multiply by 100. That is your hourly PERCENT growth. It may not seem very much.
But YOU HAVE TO REMEMBER THAT THIS IS A COMPOUNDING INTEREST GROWTH.
Which simply means, your interests grow interests too, in the succeeding period.
The formula is like:
OF=Original Figure, FHAOH=Figure After One Hour, D=Difference of the two figures, PGPH=Percentage Growth Per Hour.
And because this is not a simple interest but compounding interest, the effect will be:
WHATEVER AMOUNT YOU ARE HOLDING IN STEEM POWER WILL BE MORE THAN DOUBLE EVERY 104 DAYS.
Provided you are not powering down in that period, which will of course affect the numbers.
May I remind you that YOUR STEEM POWER will grow like this EVEN IF NO ONE UPVOTES ANYTHING YOU DO ON STEEMIT!
But we all know that NO ONE EVER VOTING for everything you do in STEEMIT will never happen. :)
So the growth of your STEEM POWER will be more significant than what I am illustrating here.
If those FACTS are not enough reasons for you to POWER UP your Steem. I don't know what will.
CURATION ADDITIONAL REWARDS- When you hold STEEM POWER, the rewards that you share to posts that you upvote also rises, your share of the reward also rises. You help more and you get more.
YOUR STEEM VALUE PROTECTION - When you hold Steem, it's QUANTITY remains that way, even if Steem price on the exchange market SKYROCKETS because STEEMIT became as popular (or way more popular) than your usual social network, you will ONLY have the same amount of STEEM. Thats it. Sell them and you're OUT.
While, if you POWER UP your Steem, it will grow thru the aforementioned interest rate applied by the system. BUT THERE'S MORE. The rate of VESTED STEEM grows up too. In fact I experimented a WEEK ago on what powering down will do. The rate applied to my POWERING DOWN is about 206 STEEMS per 1Million vests. After 6 days, yes not even a week after. Here are the rates.
VESTS RATE written in RED
Do you see that? It is now 228 Steems PER 1M vests! Or more than 10% difference! (July 20, 2016)
That is only AFTER 6 days! Steem Power are designed to stay in the system for 104 weeks once you power them down. That is why if you POWER UP some Steem today, you will surely get MORE, WAY MORE STEEMS once you power them down. (By that time, who knows HOW MUCH EACH STEEM WOULD COST).
BUT, BUT... You are worried, your fund is "imprisoned" for 2 YEARS! Why? Have you not understood yet the good effects of that?
Actually, once you got ENOUGH STEEM POWER, you can opt to get a little of them per week. For 104 weeks and more. I would leave to you the math on HOW MUCH YOU CAN GET weekly, while still fulfilling all the POSITIVE effects of POWERING UP your STEEM.
With all the barriers to crypto adoption being broken by Steemit, powering up and supporting the platform is one of the wisest decision you can make today.
POWERING UP BUYS YOU A TICKET TO BE A PART THIS WONDERFUL AND EXCITING RIDE.
Do your computation and tell me if it is not WORTH it.
POWER UP YOUR STEEMS, IT IS VERY EASY TO DO
I hope that BIG Venture Capitalists will also understand the positive concept of POWERING UP!
How about you, what is your opinion on POWERING UP? -east
well done,good post
thanks steemit
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://steemit.com/steem/@easteagle13/why-is-powering-up-your-steem-earnings-is-one-of-the-wisest-thing-you-can-do
Congratulations @jalalkhan! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP