Do you ever power down?
Steem Power is a great tool, it allows you to give more visibility to your posts and those that you follow and upvote. I have yet to power down and look at steem power more as social media capital that eventually allows you to post the kind of content you really want to without concern for what is hot and getting the most upvotes. The other nice thing about Steem Power is it allows you to show your commitment to the platform. People often watch how much Steem Power a person has and if they see them constantly powering down assume they are not that invested in the platform. Its your right to do whatever you think is best with your Steem Power, but keep in mind some important eyes may be watching your commitment to steemit.
The nice thing about rewards is they are divided into a 50%/50% option allowing you to claim half of your rewards right away without having to power down. I personally cash this out consistently as I get it even though its not much it helps supplement camera equipment purchases and photo editing pc builds. You can see people who may get 100 or 200 times more for posts than you do and it can be kind of discouraging. I learned a long time ago not to compare myself to other users for this exact reason, it might discourage me. I like to look at the more positive side of things. Knowing that I am getting something for the content I create which is more than can be said for the majority of social media sites that make money off of you. If you have a passion for your content and want to get it noticed spend time interacting with the community.
Thanks for reading
Let us know your thoughts about Steem Power in the comments below
Powering down might be ok if there was something else decent to invest in. We seem to be in a flat market past few weeks so might as well stay powered up and earn more Steem.
Sure if you are looking at steem power from a investment standpoint your objectives may be different from social media content creators. That is what is great about Steemit, we have many different people looking at it from many different angles.
That's true....so many angles at Steem. It has its own ecosystem.
Too much inflation here since hf19. That's a reason to power down
Do you think they should decrease the rewards or maybe put a cap on the amount a post can receive? Maybe do some reward pool halving similar to Bitcoin?
I think the hardfork has messed up the inflation rate and now we have hyperinflation. Also, maybe limit voting so you can't vote for yourself and, like you say, an upper reward limit. Some people are earning $000's a day without an income stream other than new investors. That is a ponzi if ever I've seen one. It'll end badly when people realise the steem price starts to drop again. The only reason it has risen is, imho, because all cryptos are in a major bull market.
I expected it to drop after the hard fork, but what is interesting is the big increase in SBD I did not expect that. Are you more of a content creator or an investor when it comes to steemit?
More of an investor. I had 38,000 Steem about 3 months ago but have been unhappy as an investor for many more months so powered down to about 500 today. Great for the successful content creators but rubbish for the rest. The platform is brilliant graphene technology but ill concieved proof of stake. Also too much pre mined and problems along the way for my liking.
From an investment standpoint what you say makes perfect sense, and I was almost one of those early miners but found the setup frustrating. I personally hope the price of Steem continues to decline so I can see those dedicated to original content creation stick around. I am not wishing anyone financial ill will by any means, I am just looking at things a little differently.
Totally agree. It annoys me the $000's payout to average content from some content creators with no revenue stream. It's like steeling from the unaware investor without anyone realising.
Did the size of the rewards pool change?
I'm too much of a n00b to consider powering down just yet. Just so I've got this right - powering down reduces your SP to give you Steem Dollars (SDB?) which you can then exchange for USD?
Exactly, the more you power down the less rewards go to you, they instead go more to the curators. The curators are those that upvoted your content to give your post its rewards.
Never.......i am looking for more steempower instead....so i dont cash out, rather i power up
Looks like you are off to a great start!
I probably won't power down at all, not for a long time anyway.
Very cool, sounds like you want to give your original content some visibility.
Yeah absolutely I'm in it for the long haul. I'm planning to buy a fairly large amount of steempower in the coming week and see how that goes.
why would you ever power down ?!
Epic animated gif
Thanks for share it i alwayse use 50/50 searching get more steem power and some SBD
I see, looks like you are on your way to building up a decent amount of Steem Power
Yes i power down but this is last time. Now i will keep my steem power and grow it up.
Yes it will be even harder to get your content noticed if you do not have some steem power
I don't plan on it...
Just keep posting original content and you will do fine from a social media aspect.
I am still small only power up ! think I need a good investment to start with :)
I do not look at steem power as a financial investment, I look at it more as a way of getting more visibility for my content.