So who’s Powering down?
Every now and again I start being nosey and have a look if any of my regular gang are powering down their Steem Power.
Of course, it’s up to everyone on their choices to invest, or to use Steemit as a regular income platform and I regularly ask myself, ‘Why are you powering up and placing solid amounts of sterling into something that is not even producing a dividend’.
Source
You see before I got interested in crypto, I was an avid investor in the Stock Market. I still hold shares in around 21 companies and will continue to do so. They each yield me a dividend twice and sometimes four times a year that I intend to reinvest back into more shares. It makes sense even if it is a somewhat conventional approach ratified by one Warren Buffet.
So why am I powering up Steem into Steem Power and semi-neglecting my stock market investments?
I feel there is a wonderful opportunity to get invested into something while it is in the early stages. You may think with the title of this article that I may be thinking of powering down, well maybe I named it that to get your attention!
Far from it, if I could get more Steem I would but for now I’ll have to wait a little longer as my finances are not unlimited.
I do feel a little sad when I see people powering down, especially ones that I have supported and tried to encourage. I will one day power down too, but I don’t envisage this to be in the immediate future.
I would love to grow my account to ‘Dolphin’ status and am already halfway to my goal.
I have found that if you give instead of take, people do notice and you gain back the same reward but with the side effects of self-gratification, friendship and respect. Now I just need to convince others to do the same.
Source
I have bonded with people I didn’t know 3 months ago from a multitude of countries including the US, Belgium, The Netherlands, Denmark and my home country, the United Kingdom.
If and when I visit those countries you can be sure I’ll let those people know and meet them.
You tell me what’s better than that and Ill consider doing it your way, but I’ll tell you what, there isn’t a better way.
If you found this article so invigorating that you are now a positively googly-eyed, drooling lunatic with dripping saliva or even if you liked it just a bit, then please upvote, comment, resteem, engage me or all of these things.
Just plan on investing for at least a year or two more myself. One day i'll withdrawal the Steem earned but not invested. It's probably a good thing Orcas and Whales are powering down, it keeps the price low so people who are more interested can become dolphins cheaper.
Not a bad idea, and I will do this too but not for a good while.
Dolphin status is also my goal but seems you will reach it sooner.
Well done mate that's the spirit!!!!
Steem on
A great goal to have, Steem on indeed!
I didn't see anyone powering down yet, but that could quite well be because I didn't payed the attention to it :) ... But I totally agree if you give you get, or you get what you give.. At least for me on Steemit that's the absolutely truth.. So no convincing for me :)
But I share your thoughts 100%, I have met so many great people here that the meeting alone already made me decide to encourage a lot of people on this platform, and that's only if you show the good example and follow the examples shown to you.. So I won't leave and would love to hear when you are in The Netherlands :)
' would love to hear when you are in The Netherlands ' - I'll take you up on that one.
You do need some ROI from every investment, and I will mention my opinion on this in a future acticle. I know others live off it and its their choice, but it will only grow if we all grow with it.
I insist you take me up for that one :)
Yes of course you expect a ROI on your investments, but like you say to the point, it will grow if we all put the effort in....
Interesting post. I know a user who helped get me on the platform and they powered down just as I was starting out. I totally understand their reasons, but it would have been cool if they had stuck around a little longer to support me :) My goal has always been to save enough to buy a new (used) truck for my wife and I to take camping. I have enough investments in other areas though that I might just leave my Steem alone, let it grow, and then start giving back to others on the platform.
the person who got me into steemit is powering down down, i think its short sighted to sell steem for under 2 dollars, at least hold out for a better price
Yeah when the person that got me in powered down the price was much higher than it is now. Like I said, he had other reasons too and I totally get it. It just would have been cool if he could have thrown some votes my way first :)
My plan was to buy Steem once it went down to $2. I woke up the other morning and it was at $1.75 so I bought what I could with what I readily had available. I wish I could have bought more.
A good idea implemented, I wish I could get more, but alas I'm out of cash.
Great post. If I had a few thousand to spare, I would DEFINITELY use it to power up - bearing in mind that there is risk involved and you should only invest what you can afford to lose.
Like you, I enjoy being nosey and checking out other people's accounts now and then. You can learn a lot from it. There are a couple of people, maybe more, who have very large SP who have never published a single blog post on the platform. They earn on their investment from curation. I see that as part of the genius of Steemit, and if more people did this, the value of Steem would increase. I certainly would, if I was in a position to do so.
There's just one thing that concerns me about this - what if a very big player decided to invest in SP in order to buy a controlling influence – for example, an agency of an oppressive government, rewarding only posts that were favourable to that government and flagging any posts that presented opinions it didn't approve of? I would like to see more "ordinary folks" without an agenda investing in SP so that the value would rise so much that it would be impossible for one big player to achieve a controlling stake. I hope the platform grows organically for that reason.
One other thing - I powered down around Christmas time, when the value of SBD rocketed. I'd only been active on the platform for about a month; I'd had a couple of great Curie votes and I had some big bills to pay. It made my Christmas a happy one instead of an anxious time. At the time I hadn't fully twigged the importance of holding onto SP, and I haven't powered down since - in fact, I invested a little.
I wish I had a few thousand too, I could get it but that would compromise my other more stable investments and this is more risky than those.
There are users such as @hr1 who just gain curation rewards, but at the same time helping the likes of us enormously. I keep trying get a comment from this person, but have failed so far, hello @hr1!
There are whales and orcas who do have somewhat controlling interests and can punish your rewards and rep if they like. I tend to keep out of the way of these people and focus on the content. as that is what this is all about.
I think if what you mention, a government started posting here, we could just ignore their posts. They would gain little in terms of votes in fear of retribution.
I agree about @hr1. I tend to keep out of the way of whales and orcas too, unless I really like what they're doing. And I hope you're right re- possible government account.
Now is the time to power up, I would think... At these prices, it's a great time to invest a little bit. I know not everyone is in the position to do that, but would recommend it to people who have the means to do so.
The way I see it, the community here is active enough for Steem to keep going another couple of years at least. Some of the latest posts from @steemitblog indicate that they're working on improving the experience for new members. So I don't see any reason why this wouldn't be a good investment.
Sure, EOS might swoop up some members whenever there's a Steemit-like dapp, but that would take some time. In the meantime, Steemit will only get better.
I'm with you on this one, focusing on powering up myself, albeit a little slower than you.
I hope it lasts for more than a couple of years, it would be disappointing for it to die after this short a period.
should have added 'at least' to that ;-) I'm hoping it becomes as popular as Facebook, but that might be stretching it a little.
Not too sure I know how to so keep plodding away as is. I tend to not check my wallet any more which is something I used to do frequently. I say that, I check to claim but not for the value as when I started.
For sure not powering down as yet! I do take out some SBD occasionally to pay some bills with, that happens when you are in between jobs, gotta make some choices then ;)
When you are in Switserland you have to go have an overpriced beer with me dude. (that will be my new country starting soon hehehe) But indeed, loving the international vibe that we all have together here, it is mind blowing!
I visited Geneva recently, the prices are outragous as you say and the county is for the rich. Hope they are paying you well.
They will give me a swiss salary, so i can live a normal live with those ridiculous prices. But cheap Dutchy as I am I will be travelling from Holland with groceries every time ;)
Well done! What's the qualification for a dolphin?
Technically, its 5000SP.
Ooooh, a long way to go! I'm putting aside little bits of money to buy extra SP, but it will be a while before I get that level. I'm powering down a little to buy some extra steembasicincome shares, but only from extra SP that I've earned - I'm keeping my stake of SP that I purchased. I did buy some extra SP to power down overtime for steembasicincome, but after the first week, I decided I didn't like the effect!
I have been using my SBD rewards to get SBI shares, that way there's no need to power down. You need to use the market function to convert them to STEEM first though.
Ah, that's a good idea - I'd been converting those to SP (then powering down)! I haven't quite got my groove on yet.