You know why this is such an exciting milestone for me? Having 7500 steem power?
It's not the value of my vote because I have over half my SP delegated. And speaking of delegations, here's a little hint into why I hold most of my steem in the form of steem power.
Notice that delegation to @isotonic? That started out at 2000 SP exactly. Now it's a tad bit more at 2007. When you delegate you delegate vest amount which basically is steem power. But vests are ownership in steemit in some way. Forgive my not having complete understanding of it.
But on to my point...
When you power up or get a curation reward, you acquire a certain number of vests. And as time passes, this number of vests per steem power gets a tiny bit lower as time progresses. So that 2K steem power that I just left sitting there delegated to Mr. @isotonic who is my running upvote bot friend is now worth 2007 SP. It's because the delegation is measured in vests from what I can tell. So now a couple of months later since a SP is worth slightly less vests, it means my steem power grows just for me holding it (or delegating it).
That's the ownership part. In a couple more years you'll get far fewer vests per steem that you power up and if my calculations and due diligence is correct, that sized stake in this venture could be worth a small fortune some day.
Yes my friends, this is a long term game for me and it's only now just getting started. I convert over95% of my SBD to steem then power up for a reason...because that gives me the power to generate and earn even more SP without even authoring--simply through curation rewards done with an ever growing value upvote which brings me ever so slightly increasing curation rewards in the form of vests / steem power. And then of course there's the payments I get for my delegations to the bots..yeah that's daily income in SBD mostly and I convert it to SP too.
So if you're wondering why some people stack so much steem power, hopefully this milestone I hit and this little story I just shared has provided some insight. It's not all about vote value, it's about investing in something that could be life changing and provides so many ways to grow one's wealth it's mind boggling.
So please excuse my patting myself on the back for hitting the 7500 SP mark. I also do appreciate my 1942 followers very much so. I hope you all take away some knowledge from this post and consider what you do with your earnings...If you hold onto them and become a part owner (part company owner), imagine the possibilities. They're nearly endless!
Steem on friends! I wish you all a happy weekend and now I must sleep and prepare for my 5k race in the morning. More on that tomorrow!
Great post! I am doing almost the same. I just got over 1,000 SP this month as I am buying STEEM every 2-3 weeks to scale into the position. I immediately power it up to take advantage of the earnings potential for staking. I have been testing delegation but still enjoy doing most of the curation as I like to engage around the community. My next goal in 5,000!
That's a good way to do it and that's how I accumulated quite a bit of my steem power..by averaging in over time I bought quite a bit of it in the fall of 2017 and I still pick up bits and pieces when the price is low.
Congrats on acquiring your first thousand and best of luck in getting to that 5K mark!
Great job!!!
I'm trying to do the same but with curation rewards... I don't post that much, but I'm doing a good curation job ;-)
Have a great weekend!
Steemitri The Mannequin
Yes quite a few people are going mainly the curation route...I still earn thru curation but I've found other methods are more effective for me right now. The SBD being off the $1 peg does play a role in my strategy which has led me to delegate so heavily. Basically the passive investor (one who doesnt author much) either grows their investment through curating or passive earnings from delegations. I do a bit of both but I've been more successful on the delegations side lately.
Good to see you Steemitri!
Thanks for your reply John!
I spent a lot of time, trying to improve my curation... now it's time to check the delegation aspect. I don't have that much SP, so I think I should consider this too.
I commend you as well. You deserve to celebrate these accomplishments. Congrats my friend!
Thanks Daltano. Gratitude for life's accomplishments and good times is definitely something I've been lacking lately and I need to get back to it. This post was kind of a last minute thing for me on a friday night before bed. The 7500 SP is going in my gratitude journal along with a few other things this weekend.
Never forget to acknowledge your own greatness. You are the main factor in propelling yourself to greater heights.
Indeed, a wonderful number. I am exceptionally far from this number. That is an extremely keen methodology.
You can get there if you try. It could take a while but with enough hard work anything is possible! I know not everyone has the money to invest in buying Steem regularly but you can still earn it by authoring...it just takes time.
Congratulation on achieving this 7500 so milestone. Investing in steem to power up my steem power is like investing in a passive income earner. I which I have more steem power like yours @cryptokeepr
Thanks! It's a much better return than any bank can give a person--that's for sure. Steemit rewards those who invest. You just have to know how to put that passive investment to work for you!
Congrats! That’s a really smart strategy.
Yes, a remarkable number. I am very far away from this number, but I thank you for the idea of investing part of my SP.
Thank you for your continued support of SteemSilverGold
Steem on!