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RE: It takes Steem to Make Steem
I just recently became a minnow too. Thanks for the actual monetary figures, and the other info that's coming out in these comments. It helps make (a little) sense of things.
I don't quite get how delegation works though. If I delegate some of my SP to (who? a newbie initiative, an upvote bot?), I'll get paid weekly for that? But then would my upvote be worth nothing?
Congrats on your minnow status! It's nice to finally reach that point. I know what you mean about things only slowly starting to make sense. I think that's why they have you start at the bottom, so by the time you're at the top, you actually know what's going on. :P
Thanks for your comment, I'm glad that you're getting useful info to help you on your journey.
Delegation is assigning some of your stake to another account. They then get to use your voting power as their own. You can take your delegation back, but it takes seven days to reach your account.
I don't know about how you would get paid. There are some places you can delegate that get you paid, but it varies. I'm delegating to a community that I'm involved with, but that's different.
Your vote value would decrease to correspond with your new effective SP after subtracting out the amount you delegate. It is recommenced that you keep at least 50SP in your account so you don't have to worry about bandwidth issues for posting and making comments. Definitely keep at least 1 SP undelegated, or you won't be able to access your account at all. You would have to have someone delegate a small amount to you in order to recover your account.
None of this is investment advice. You should definitely do your own research. Be sure of what you're getting into before making the decision. Never invest or delegate more than you can afford to lose (as it could be everything in your account). Your decisions are your own.
(Long disclaimer because I'm not an expert and don't want you to feel encouraged to do something you're not informed about.)
Thanks for the response, @themanwithnoname. I appreciate all the little bits and pieces of information I pick up on the various posts I read. And I often find nuggets of gold in the comments, as people trade information back and forth.
Steem on! 🍌
You're welcome. I'm glad some of it was helpful. Like I said, I don't have experience with delegating to bid bots, but if that's the route you decide to go, I hope it works out well for you. Keep learning, the knowledge will help you as you move through life... well, some if it will. Ha ha.
Always! :-)