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RE: Redfish Power UP League and Wall of Fame Week #18 (with @Curie Support)
you are working hard and I love this game idea. I have mentioned it in the new league post. I feel your pain on the give aways and now with the price of steem so low. Maybe you would consider SBI units as prizes, at least then you also get a little back
Thanks for the mention. Word of mouth is the best advertising!
Funny you should mention SBI units because I was actually thinking about the idea. What prevents me from actually implementing it is the math. SBI is a genius idea (for the person who started it), but I can't see the units ever amounting to more than dust votes. The more people that sign up, the smaller each unit's value must become in order to stay within 10 full votes per day. I was receiving 1 cent votes on 1 unit, then on 2 units I still got 1 cent. Now on 5 units, I'm still getting just 1 cent per vote, so my speculation seems to be correct. I am currently voting at 3 cents per vote on anyone who plays my zombie game and at 2 cents for anyone who participates in the weekly contest, but they also get another 2 cent vote for advertising their blog post or something for sale, giving 4 cents combined. The votes are for sure, plus they get a chance at winning the prize pot. To me, this is a way better deal than a single SBI unit. Of course if more people participated, I too would need to dilute each vote in order to stay below 10 full votes per day. My goal is to give as much as possible, so as my account grows, so will the vote values. It's all about perception and people see different values in different things. It often takes herd mentality for some to see the value and since there isn't a flock coming to me, the perception is that there is no value there. Those few who recognize the value will keep coming back. Hopefully some day soon things will change for the better.
Speaking of Steem's low price: I see it as a blessing for the little people who are struggling to raise SP. Right now 1 SBD buys a little more than 1 Steem, so if someone earns 1 SBD per day, they can buy roughly 8.75 Steem at the end of the week.
Now let's assume the price of steem is $5 USD:
They would be earning $5 per day instead of $1. Sounds GREAT, right? Now let's convert that to SP and it costs 5 SBD to buy just 1 Steem. So although it seems like a win, at the end of the week you have just 7 SP.
I prefer the 8.75, thank-you very much!
Now, having 7 Steem at $5 each probably isn't going to grow as much as having 8.75 Steem at $0.75 each. I don't have a crystal ball, so cannot predict how high Steem will go, however, I don't think it is unreasonable to expect that it will reach at least $5 to $6 in the near future. If that's where it should cap out, earning that initial $35 will seem small compared to having that 8.75 Steem grow by a factor of 5 or 6!
the rates of steem/sbd are in our favor, thats for sure
I have never really looked at the math to much on SBI, but I think the problem with the vote value is that the price of steem keeps going down and has a direct impact on the vote value. Also they dont keep to 10 votes a day and as more people join there are new pools, sbi2 sbi3.....Im currently getting an 11 cent vote, but gosh I must have a lot of units now
I know... that's why I said he's genius. He's growing his accounts by leaps and bounds in order to be able to split off and create more accounts. I had discussions with the creator of SBI and he agreed with my thoughts. It is true that eventually those SBI shares will begin to actually pay the contributors back, but it will take at least a year just to break even. Think of all the VP you lost over that time. VP that HE is now earning from each and every one of you who contributed. VP that earns curation rewards for him and not you. No matter how one dresses things up; Steem was designed to have people vote for each other, not to buy votes from voting bots. I believe direct voting will always be the most efficient way to help each other grow and that is why I keep looking for ways to do exactly that.