Lets Talk About Steem Power

Hey All,

You may have read something like this before however I just want to illiterate the importance of Steempower and how it can benefit you as a user and also to everyone else you are supporting.

How to Define Steem Power ?

 

I'm sure some of you have played Simcity before right ? Even if you didn't, just pretend that you know. :) So imagine that to provide power to a city , the city requires energy which is typically generated by powerplants just like the image above. For reference sake ... lets call this Steempower PowerPlant

As your city starts to expand bigger you would require a larger PowerPlant to support all these authors. So the bigger your Steempower , you are able to efficiently support more authors on the Steem Blockchain. The more you support other authors, the more rewards you get thru curation.

On the Steem Blockchain, there are 3 main ways to obtain Steem Power

1. Thru writing content and getting other authors to upvote your post
2. To buy Steem from the crypto exchanges
3. To buy Steem using your Steem Dollars thru the internal exchange

Why should I keep Steempower ?

There are a few main reasons why you should keep steempower instead of powering it down. But here are 2 of my main reasons :-

 

To support authors to create more content every single day. As of now there is close to 1.1million accounts created on the Steem Blockchain ( mostly thru steemit ) with about 50 thousand daily active users. This is still way beyond what other popular social media's numbers however its not bad for a Social Platform which is just above 2 years old and have zero advertising.

Here is the other reason

Even if you kept 1,000 steempower in your account and you do not want to touch it for the next 10 years. You will gain about 15% yearly interest. ( source https://steem.io/steem-whitepaper.pdf ) . So lets just say conservatively the price of Steem rises only 15% a year as well. By the end of the 10th year , you would be able to withdraw about $18 thousand worth of Steem.

interest better then our conventional fixed deposit

Conclusion

I do suggest that you continue to powerup as much as you can afford to power-up. I do know that some of you are withdrawing for your SBD/Steem to cover some expenses, however do leave some to powerup so you are able to both support and gain interest on your time investment on this Steem Blockchain.

Cheers and have great day !

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Posted from my blog with SteemPress : http://ourwebz.club/bitrocker2020/lets-talk-about-steem-power/

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