How do you plan to cashout from Steemit?

in #steem5 years ago

How do you plan to cashout from Steemit?


Now, you might be thinking to yourself, easy... Powerdown, convert to BTC and cash out. If you were going cold turkey and planning to not posting anymore, this would be the way to go but what if you plan to keep posting everyday and wanted your STEEM POWER converted back into STEEM so that your ready to sell it when the time comes. What about all the STEEM POWER you earn during the 13 week power down. Do you update your power down every week to the max amount which after a few weeks would actually reduce the STEEM powerdown amount cause you've already had a few big payouts. I think once you start to power down your account, its a never ending cycle of Ice Cream, sorry i mean STEEM.

For me, it's a little more complicated then that again because i already do power downs to pay for leases's and services for both my personal account and CryptoSicko account. I have a hand in another bot account were i run the back end but it's more of a long term project so it's not included, plus it's not 100% mine. Please see below to see my power down breakdowns as they stand at the minute


I currently need 70 STEEM per week for this account. This breaksdown to 35 STEEM for hammer and 35 STEEM for x7 5 STEEM tipu upvotes. From this account i have delegations set up for 1250SP to Precious, 1000SP to CryptoSicko, 50SP to @myprecious, the community curation trail and 50SP to @themothership. I have around 1000 SP left over which is basically my power down because 70 STEEM x13 weeks is 910SP. As i plan to keep posting, my delegations will still in place and there is pretty much no meat on this account to be powered down. This account is the easy one for me.


I need 150 STEEM every week to keep this bad boy running smoothly. The breakdown for this 35 STEEM for hammer, 65 STEEM for x10 tipu votes at 6.5 STEEM each and 50 STEEM to pay for off market lease's. I have no delegations from this account and it has a balance of around 5900SP. To get the 150 STEEM i need every week i need to power down 1950SP which leaves almost 4000SP extra. I have just 20 minutes ago went full powerdown for 5800SP to receive 446 STEEM per week. This is almost 300 STEEM per week more than i need. I will ship the 300 extra over to my personal account were it can stay in my saving's wallet. I pay for enough off market SP lease's so that i can now withdraw my starting investment into CryptoSicko without much effect on the overall ROI for members. I will not be changing this power down and will let it run the full 13 weeks.
After this first 13 weeks is over, i will begin a new powerdown for the max amount again. CryptoSicko earns around 550SP per month between curation and post payouts. It will also earns around 100 SBD per month but these will be converted into STEEM and not powered up. After the first full powerdown, i should have withdrawn around 4900 STEEM to my personal account I would expect to have earned around 1800 SP for the second powerdown and then pretty much the same for the third, forth and any time after that. I would be basically recycling my SP every powerdown round and cashing out SBD's to my personal account. CryptoSicko will continue to grow as curation rewards increase and i can commit to leasing out more STEEM POWER.

To sum up

In a nut shell im looking my starting 5000 STEEM back from CryptoSicko so that when the time comes im ready to sell this in one big whack. I sold 180 oz of silver to fund CryptoSicko and after only 6 months, CryptoSicko is not dependent of this STEEM POWER to provide are great ROI any longer and the FUD going around is making me nervous so i wonna do something about it. I want my silver back!!
When someone mentions that they are going to start powering down, everyone else thinks that, that person is quitting Steemit but it's not always the case. I have almost 10,000 SP invested into the platform and im planning to cash out 5000 STEEM. I am currently earning more than i have before through steemit in terms of STEEM/SP, it would not make sense for me to quit. I still see STEEM passing the $1 mark, even if it under performs during the next crypto bull run, it should still go over $1 at some point.

That's about all i gotta say about that. How do you plan to power down your Steemit account when the time comes?

Sort:  

Ive been powering down but with my delegations its not much. Its not tgat im going anywhere either. My vote isnt worth shit anyway so why have the steem power.

Don't lie, you just loading up for SBD to own MR4

Posted using Partiko Android

Yeah, i'll need to start saving SBD's soon for MR4

Yea silverd510, thats the way im thinking about it.

When the time comes.. I will power down the @tommyknockers account. I have 20K delegated to @silver-hammer that grows every day.. I figure I will cash out half when it's worth the 50K I have invested between both accounts.. then I'm gonna free roll off the rest

The mods are working on something. I'll drop a post within the next 24 hours

and shit!!!! what price did you buy in at?

I'm all in. I'd love to never deal with money again, and just buy stuff with upvotes :)

That's cause your STEEM rich !!!! 😎

Im currently looking into steem.engine with Ray and we are getting idea's of an independent website with reward system on the STEEM blockchain. Scotbot looks ok i really dont like the website layouts and how its basically a filtered extenstion version of steemit by tags.

Yeah I'm going to see how a few others go first, but I'm definitely bandying around the idea of a token for the Adelaide crowd. I'd like to back it, perhaps with silver; although then you run into all sorts of counterfeiting and starting your own currency laws.
Early days, I'll keep thinking and watching. Let other people make the mistakes, first :)

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I am buying in for now. Eventually, I may cash out liquid earnings, and power down if I ever get too much, whatever that would be.

Posted using Partiko Android

It's deffo a good price to buy in at if you have the balls. I cant make myself do it. lol

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math lady.jpg

So many numbers. It teaches me that I am good at content creation but I know almost nothing about managing my steem and sbd.

You should make an investment guide on delegation and stuff like that.

Cheers.

I was gonna totally power down and transfer every Steem and sbd to my Sis @silversaver888 no strings attached because she's got way more time than I have but I just keep procrastinating and say I'll do it later and later etc. Just got too much to do. 😉

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