In Steem Secret #8, discover the easiest method investors can use to get a returns at 24% APR by leasing Steem Power via delegation at https://www.minnowbooster.net/market. This is a GREAT ALTERNATIVE to POWERING DOWN for getting liquid Steem without having to touch the principle! For anyone holding enough Steem Power to use the marketplace, this is the most simple system I am aware of to get a great return with the least possible effort!
Before making this post, I tested this on 35,000 or so Steem Power. In exchange for delegating my Steem Power by the process I show below, I am receiving about 30 Steem per day for 4 weeks. I tried this to both make the best post for you here and to see how it felt to have a greatly reduced vote. Long story short I love the payments and hate having a vote under $2 after having it as high as $38 at one point! With my daily participation on Steem, it does not make sense to loan my Steem Power because I can give much more than 30 Steem a day worth of upvotes to others which invariably will come back to me as well. In about three weeks, I will have all my Steem Power back along with about 1,000 Steem and I will not be planning to loan it again because I want to give the most back with my upvotes. That said, if I was an investor holding my Steem on an exchange or holding Steem Power in my wallet without using the voting power most days, it would make A LOT OF SENSE to follow the entire process I show below!
How does it work?
- Have a desire to loan Steem via delegation effectively reducing voting power by giving it to another in exchange for payment at 20% or higher interest. This is ideal for investors seeking a hands off guaranteed return in a way that appears to be socially acceptable in the community. For example, let's say an investor has 100,000 Steem on an exchange and would like to actually earn more with it instead of having it just sit there. Let's guess that this investor has no desire to start investing time in the Steem community for now because of existing commitments. At the same time, a successful return might encourage further investment in both time and money. In this case, using https://www.minnowbooster.net/market is the perfect solution. Alternatively, maybe one of us that got excited for a while and bought a bunch of Steem loses interest or gets busy with a hobby besides Steem. Meanwhile, the desire still exists to earn a return and hopefully come back to Steem later with a larger wallet. Instead of letting the Steem Power go to waste especially by powering down and selling, using Minnow Booster presents another perfect alternative.
- To begin, power up all available Steem and then visit https://www.minnowbooster.net/market. Review the offers and choose the ones with desirable terms in terms of weeks the loan lasts for, the interest rate, and how much Steem Power to loan out via delegation.
- Click on fill this offer and review the details. Complete the delegation process and then receive the payments every day! The borrower pays the full amount in advance to @minnowbooster meaning there is little risk of not receiving payments!
- After the period of the lease is over, we may need to manually remove the delegation using the link sent to us by @minnowbooster or in our desktop Steem wallet as seen in this tutorial I recently made for Vessel at https://steemit.com/steemsecrets/@jerrybanfield/steem-desktop-wallet-vessel-9. Removing the delegation must be done manually because it will stay in effect until we cancel it AND requires a 7 day cool down period to come back because this prevents duplicate voting.
Pictures
Landing page on https://www.minnowbooster.net/market.
After clicking fill offer.
User info showing my delegations.
Daily payments! Here are the last two.
Note that @minnowbooster takes 10% of the fee paid by the borrower and collects the entire payment upfront which is then sent automatically out to the lender in equal daily payments.
Why borrow?
Before participating, it is important to understand why a user would participate on the borrowing side. Let's take the opposite of what I did. Instead of loaning my Steem Power, I could have paid the Steem I am receiving and borrowed that much more. I would then be able to vote my own posts up higher and upvote others higher. As an author, I REALLY appreciate every author that has an auto upvoter set on me guaranteeing a consistent amount of earnings on my posts. I am planning to show my gratitude by getting my own upvoter set on many of those upvoting me the most. When we see how much it helps us as authors to not only be able to upvote ourselves but to upvote others, we can also see the value of borrowing Steem Power to accelerate the process of getting more votes and giving more to others. The secret to getting a lot of upvotes is giving them along with writing posts that readers love and enjoy consistently. Thus, a new author without the funds to say load up with 35,000 Steem Power equal to about $60 a day in upvoting power can instead pay less than $1000 to borrow that much instead. Through a combination of voting others up and a few self upvotes, borrowing the Steem Power might be a better option in some cases that trying to just use the smaller amount because of the chance to hit the trending page with a higher vote.
This strategy is absolutely ideal when the price of Steem drops temporarily allowing a buyer to grab say 1000 Steem Power cheap and then when the price goes high to borrow much more at effectively a much higher rate to pay out way more than the initial investment. For example, let's say the price of Steem drops to $0.50 one day in an epic plunge allowing one of us with $1,000 to buy 2,000 Steem. Let's say the price then corrects to $1.50 making that 2,000 Steem now worth $6,000. Instead of cashing out, 1,000 of the Steem is then used twice to borrow about 35,000 Steem Power for two months which is enough for about $60+ in upvotes every day. With a combination of self upvotes and voting others upvote, the author hits the trending page with a post or two along with getting new auto upvotes by others. The original $1,000 ends up resulting in payouts of $10,000+ in author rewards alongside auto upvotes for about $10 per post leaving the original borrower in a position to consistently earn thousands of dollars a month in posts on an original investment of $1,000.
Thank you for reading this and I hope this post about https://www.minnowbooster.net/market was helpful!
Love,
Jerry Banfield
Shared on
PS: Witness votes are the most important votes we make on Steem because one vote for a witness lasts indefinitely! Would you please make a vote for jerrybanfield as a witness or set jerrybanfield as a proxy to handle all witness votes at https://steemit.com/~witnesses because when we make our votes, we feel in control of our future together? Thank you to the 717 accounts voting for me as a witness, the 196M VESTS assigned from users trusting me to make all witness votes by setting me as proxy, and @followbtcnews for making these .gif images!
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"in a way that appears to be socially acceptable in the community."
This is such a key point, Jerry. Thank you for highlighting it. I think it is very interesting to compare these rates of return to the rates hypothetically available via self-voting or forms of abuse.
Optimal design would make the most socially acceptable option both best for the community and the individual. It's difficult to theorize what that might be without an objective, unemotional look.
I can confirm what others noted about cancelling delegation. You must remove the delegation manually by setting a new delegation of "0". I suspect that this interface will get a makeover in the future, as overall, delegation is extremely user-unfriendly. Having to calculate vests and modify links is very "alpha", in the sense that it's still not ready for release.
Props for keeping up the post schedule while you are out of town!
Hello, so it is not possible to remove delegation? one needs to delegate "0" ?
Right, exactly. Setting a delegation to 0 is how you "remove" it.
It's awkward to do, exactly like delegating itself. Blech.
Hi Jerry, this is a great post! You are very correct, the idea behind @minnowbooster was to provide an investor-class method of holding Steem rather than letting it waste away in an exchange, while at the same time being affordable for minnows. Many whales stopped voting after "the experiment" and this gives them something to do with their Steem other than powering down.
When I get home I will hit you some witness votes from myself and @buildteam which is a proxy for @minnowbooster. Please consider votes for myself and co-founder @reggaemuffin if you aren't already voting for us. Great work, cheers!
(Edit) You are voting for me, thanks man! ;)
@thecryptodrive thank you very much for noticing my post and leading the development of so many essential Steem services! I appreciate your consideration for a witness vote at https://steemit.com/~witnesses and I just voted for @reggaemuffin along with the vote for you!
I have not seen so far in the documentation whether the Steem power delegated goes back automatically or must be manually withdrawn? Do we receive a link to click to remove the delegation somewhere because so far I have not located it?
Thank you for your vote!
Delegation has to be updated/canceled by the delegator, so we send you a steemconnect link once a delegation expires.
All other solutions would require your active authority and that is definitely nothing any investor wants to give out.
@reggaemuffin thank you very much for noticing my vote so quickly and upvoting me as a witness today also! I appreciate you letting me know a link is sent and I will edit this into the post now!
@jerrybanfield I have a question to you.If I give my steem as lease to minnowbooster for 1 week to 4 week and after the time end will i get my own steem plus interest back?suppose if i will give 4 steem to minnowbooster then after the lending time over can i get my principal steem back along with interest?please solve this for me..
I saw your newest post from a few minutes ago and I really like what you are doing for steem! The witness vote is well deserved :)
Hey Jerry, @reggaemuffin replied below, I would like to add that the cancellation notification comes via your Steem wallet as a memo, just copy and paste the link into your browser and follow the SteemConnect links.
@thecryptodrive thank you very much for voting me up as a witness today and sharing how we can remove the delegation! I just made a complete tutorial today I hope is helpful for anyone to easily remove delegations at https://steemit.com/steemsecrets/@jerrybanfield/steem-desktop-wallet-vessel-9
Hi @jerrybanfield, i am your biggest fan, kindly show me your power with upvote to this comment, Thanks
I ready delegate steem power to minnow booster! Thanks @jerrybanfield
very interesting , I will consider it at some point
Hi jerrybanfield,
Very interesting read, Thanks you for sharing it!
I nearly missed this post. Thanks that someone of my friend remind me of this. Too bad I can't upvote this post anymore. Well done reminding us.
Hi @jerrybanfield truly love your post and you get my vote for you as witness ;)
If you can make more video about @minnowbooster it will be very helpful for us newbie in Big Steem Family :)
This is pretty awesome! I'm going to make over 500 STEEM per month! Thanks Jerry!
Great post mate!. You are always ahead of the game. Keep it going.
I also invest what little I have and love this, this is better than curating. Plus this nearly autopilot if you have steem power.
Thanks for nice article and good tip for interesting service.
I've been a delegattee from minnowbooster for a while now. I hope one day, I will be a delegator.
Hi @jerrybanfield, First off - Many thanks for accepting the request and writing this post. I really appreciate it as it's going to help a lot of Steemians. You've explained every bit of it in a simple way. However, some users might be asking for a video tutorial in this regard, not sure though.
I am giving a nice shout out to this post.
Resteemed!
Hi there, check out the @minnowbooster blog there are some tutorials there with video.
@thecryptodrive, I'll check the tutorials. Thank you.
Hey Jerry, that is a really nice breakdown of the process. I was already wondering how the delegating side looks like. So far I have only tested the leasing part and it works marvelous. Depending on the sum you get your delegation within a day or so. Higher numbers usualy seem to work faster than smaller sums.
The delegated power is really important to support community projects and individuals. I was featuring this as one of the greatest benefits of Steem Power in my currently trending post about that topic. You might have seen it.
For an investor who isn't active in the community this is most likely the best way to hold Steem. You multiply it passively and you are potentially doing a good deed, depending on how the account is using your Steem Power, of course.
On a totally different matter: What do you think about using animated puppets for marketing videos? You are a pro when it comes to that topic and I have the technology ready that allows to produce cool videos super quickly. Maybe you have seen my Steemy videos before where I use that tech. I want to co-op with other Steemians to do various animated shows. I could just take anyof your screencasts without your webcam and put a an animated puppet on top of the video instead of you.
Maybe you have connections to the Steemit marketing team which will kick off its big campaign later this year. This tech could be cool to promote Steemit using my Steemy puppet - or any other we might want to use.
I don't want to drop any links here but you know where to find me and see for yourself what I am talking about :)
I have no idea how this works lol
If the lease cost is 100 STEEM and Delegation payment is 90 STEEM, it means I pay 100 STEEM and receive back 90 in daily increments o.o
I know I didn't get it right, care to elaborate? xD
Correct you get back 90 Steem in daily increments, so if the lease is for one week (7 days) you will get 12.857 Steem per day for 7 days. If you cancel delegation early the lessee will be refunded the balance not yet paid out to you. We don't encourage early cancellation as this is essentially breach of contract.
Why the hell would anyone do this? If I deposit a 100 STEEM to get 90 back?
Because you get the initial 100 back. It's a very basic financial concept: interest and investment.
Why does anyone buy a certificate of deposit?
So I get a 190 Steem?
I doubt the rate of return is that high, but of course you never give up your initial delegation. It's always yours. You get that back plus a payment.
I agree this is an interesting option for investors - I'll bookmark this and pass it on to anyone whose interested. Thanks for sharing.
Nice post,you helped me a lot ,yea baby :)
I will try this strategy ,more hardwork more money :)
Jerry Catfield...
More usury more money you mean
Finance is the lifeblood of the modern economy :)
The lifeblood of the dying parasitic control system.
I can understand just this cat😌 need time
Great post, @jerrybanfield! The process for renting out Steem was expertly communicated, and doubles as a demo for would be borrowers, to boot!
I have been trying to understand more clearly the benefits and advantages of renting Steem Power to boost myself up in this community a bit more quickly. This post goes a long way in aiding me with the development of more advanced strategies.
I upvoted and already follow. Looking forward to future posts from you. Cheers!
Before renting the steempower however, you must have a strategy planned to make back ur investment (which it is) in the long run.
I av a community wherein we do this is aid ourselves. We av a telegram group where we work together.
@jerrybanfield, certainly interesting to see the while process laid out like this.
From where I am sitting, this looks like it could be a good option for someone who's more of an investor than a social-media-community-builder. I could see renting out SP is I were going hiking in Nepal for a month (for example) so it would do something useful while I were out of touch. But I guess I am too interested in actually blogging and interacting for it to sound like an attractive option.
Great work Jerry! Very well written article about MinnowBooster.
don't think 24% is much.. but better than nothing..
Seems interesting! If you have some to spare, that is :)
Great post! Thanks for sharing the info!
Thank you for the tutorial.
i have some SP delegated already, and it feels good to share it and knowing that I can help.
Great plan for starting off!
Really great post jerry thanks [please have a look at my post - Mind Game Contest ]
Ill stick to sharing my upvotes to community
Been hearing about the delegation for a while. Really goood article. Thanks a lot
I Just sent a post to be upvoted by @minnowbooster and received no upvote :/
Any ideas on how to solve it?
https://steemit.com/cryptopia/@lucasgabd/3-projects-i-believe-have-potential-at-cryptopia
lol you said its disappointing when your vote is under $2... mine doesn't even add 1 cent. Its pretty discouraging. Thanks for the info - I will check out the website. Upvoted and resteemed.
Lol...true
One thing I don't like about steemit is the excessive automation uses by more tech savy users. It is against the spirit of a social network which should be interactions between real people not bots.
Unfortunately, thats's the reality of this case. The good thing however is that these guys behind minnowbooster, @thecryptodrive, @raggaemuffin and co are also behind a platform called steemvoter. The service is available for at least the non techky to take advantage of.
Cool thnx for the promo!
Hehe! I just had to. You guys are doing an excellent job.
Thanks man!
This comment has received a 0.39 % upvote from @drotto thanks to: @banjo.
This does not make any sense to me. I keep trying to figure out how users are renting steem power and earning a profit. I assume the only way to to post 10 times per day and self upvote. That is a lot of work even if you create 10 poor quality posts per day and obviously doesn't create a platform that the massive will want to use.
What about us , newbie like me ? Can I make or increase my steem power or steem by investing. I have only 12 SP. And 10 steem only
You probably need more, around 100 at least, to fulfill the amounts lessees request.
@lexiconical Ok thanks , but there is anything that I can do ?
Nothing but create content and generate some fat stacks, really.
Upvoted and ReSteem - thank you for the investement idea
good plane for bigining
Thanks for your informations :)
iam used this bot
thanks
Jerry Banfield
This was a very helpful post. I'm still learning my way around and trying to figure out what to do with the Steem that I have. I've been contributing practically everyday. Any more tips would be appreciated. Thanks!
thank you, your posting is very helpful to us, you are worthy to get the award, your effort has been happy to people around you.
Always look forward to your posts. :) Excited to read up on this.
Any one know how to get my 'earnings' from the minnowbooster back into my STEEM Wallet? Also, how do i undelegate from the bot if I wanted to? I sent quite alot of SP to the bot but there isn't any clear way to get it back..
arranco la makina de #steemit @jerrybanfield el que mas sabe hacer #steem apoyo con un #resteem
Thanks Jerry, now minnows can be whale fast. LOL. Well-explained article. Have a beautiful day!
Great post, Minnowbooster really looks like a nice way to start boosting SP. Thanks for sharing the secrets with us :) great post, have a nice day #keepsteemin continuing reading
thank you JERRY for this post !!
thank you for everything .
This is Amazing Jerry. Thanks from my Heart for this.
I am for you came to steemit - thank you for helping me in this ...
Excellent alternative my friend I would like to try. thank you for sharing each of your secrets. you are a sample to follow.
I hope one day I will delegate SP to the @minnowbooster
For now I just pray everytime I order upvotes to be NOT over the limit!)))))
Thanks Jerry for information! Very usefull even for minnows like me!
Thank you for the guide ☺️
I recently had a big hit on my burdock recipe and wanted to give back to the community so I did one power down and donated some to #whalepower curation and rented some SP to support the wider community.
I'll have to remember this when I have more steempower because right now I don't have enough to loan :/ I'll have to keep this in the back of my mind though so I can remember in the future.
Thanks for sharing!
Extremely interesting and insightful, as always. Will follow your advice.