I am considering giving my two cents, but want to check my math first
I was writing an introductory guide for SteemIt that I will place on another web site.
In this guide, I intend to suggest that new users who want to make the most of SteemIt are wise to buy about $320 worth of STEEM POWER to by-pass the plankton stage.
The problem that people in the plankton face is that upvotes are worth less then a tenth of a penny. The upvote calculator says that 15000 SP gives an upvote worth $0.63 . Moving the decimal three spaces means an account with 15 SP has an upvote worth just $0.00063.
It takes 15 100% upvotes from new accounts to equal a penny! Upvotes from accounts in the plankton disappear as rounding errors.
SteemIt Users should try to have enough STEEM POWER so that their votes are worth $0.02 .
The price of STEEM is $0.71. The Upvote Calculator says that I need about 480 STEEM for my vote to be worth $0.02 . That costs about $341.00 US Dollars. This figure seems to be consistent. One needs about $160 in STEEM POWER for a 100% upvote to be worth a penny.
As I understand, SteemIt reduces the value of an upvote by 2% and regenerates at a rate of 20% . If you are voting 10 to 15 times a day, your account will distribute over twenty cents a day. If the price of STEEM held constant; then you will reward the people you interface with with about $75.00.
I do not think that Cyber-Currency is a good investment. Quite frankly I don't think of dollar bills as a good investment either, but I find the way that SteemIt gives out money as rewards as attractive. Anyway I wanted to make sure my math was correct.
So, I am thinking the best way for a person with positive finances to handle SteemIt is to buy $340 worth of STEEM POWER. The money is 100% at risk. This amount of STEEM POWER gives the account holder enough voting power so that their vote counts.
I don't have positive finances. Instead of buying STEEM, I am hoping to sell advertising for STEEM. What I am doing right now is multiplying the price of STEEM by 10,000. So if you define and ad and give me 1 STEEM that is worth $0.71 then I will give your ad 7100 impression. For 10 STEEM I will give give 71,000 impressions.
That math seems right to me. I believe you get a “slider” for your upvote percentage at 500 SP, so alternatively you could shoot for that.
Yup, you get a slider when you reach 500 SP, although if you use busy.org you can have the slider regardless of your SP.
However, when you have very little SP (less than 1000), the slider is pretty much useless.
WARNING! The comment below by @balkishanchidar leads to a known phishing site that could steal your account.
Do not open links from users you do not trust. Do not provide your private keys to any third party websites.
@yintercept, I gave you a vote!
If you follow me, I will also follow you in return!
Enjoy some !popcorn courtesy of @nextgencrypto!
Also keep in mind that the vote may vary depending on the price of the Steem, currently my vote at 100% is $0.03 and I have 650 SP, but with the madness of the prices at the beginning of the year, my SP was around of 500 SP (I have grown slow), and my vote at 100% reached almost $0.20.
When the price of the SBD also goes up, your rewards also do it. Between December and January the price reached more than $8 per SBD, which meant that, although Steemit placed your rewards as $1, for example, the real reward was 8 times higher.
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