Eye on the Prize: STEEM POWER
Greetings fellow Steemians,
These are certainly interesting times. With SBD (STEEM backed dollars) around $6.00 USD and STEEM around $1.70 USD, things are looking optimistic for the platform.
Crazy SBD
As has been mentioned before, having SBD valued so many times higher than $1.00 is an anomaly that breaks the purpose off SBD which is supposed to be pegged at $1.00. Pegged as in "doesn't move".
Pegged is supped to mean "doesn't move".
But welcome to the new STEEMCONOMY. Where your dollar is worth 6 and your target is worth less than 2.
We have an amazing opportunity here.
This is where we use the 50/50 payout on EVERYTHING!
When we receive payouts on our posts and comments, it's in our best interest to receive it split between SBD and STEEM POWER, since you can use that SBD to purchase more STEEM.
Shouldn't we HODL SBD?
I can't say... perhaps SBD will continue to rise and it would be best to hold on to SBD and ride it up.
But if you asked my advice (and you didn't and shouldn't since I'm not a professional financial adviser), I would take advantage of the high SBD price by SELLING SBD immediately for STEEM.
I believe that this abnormal (and ridiculous) SBD price is temporary and a day is coming where it is back to the boring $1.00 again. If that's the case, we should harbor the high SBD value into something else.
The goal should be acquiring STEEM POWER
We all want to advance from #redfish to #minnow to #dolphin to #whale. Right? The way to do this is to trade our valuable SBD for STEEM (with no transaction fees) and POWER UP!
HODL STEEM POWER and have it work for you!
Reasons for investing in more STEEM POWER
Here is the short list of why you would want higher STEEM POWER: In short... aquisitions!
You acquire greater upvote influence.
When you click the upvote chevron and you're used to $0.00, with enough STEEM POWER you could offer $0.01, or $0.02. That doesn't seem like much, but with SBD so high, the actual real-world pay out for the recipient is much higher.
And it feels better offering at least a few cents rather than next to nothing for a quality post.
You acquire a vote slider
You may notice that when you upvote a lot of posts and comments that the value drops very quickly. If you're like me and you upvote all over the place, you will find your voting power drained down to almost worthless.
Once you make it to the 480 STEEM POWER level, the platform rewards you with a vote slider! This allows you to upvote more posts without draining your voting power quickly.
You acquire a reputation that attracts more followers.
When someone decides to follow your blog, it's not usually because of your STEEM POWER or upvote value... but it does play a role sometimes. Some Steemians do look for things like this.
You acquire a greater status on the blockchain.
Users are categorized by aquatic animals, beginning with redfish and growing up to whale. If you were in the fortunate position of holding on to SBD for this moment, you could purchase greater status by trading SBD for STEEM and POWER UP!
An Example of Status Upgrades
It's taken 143 blog posts to acquire 1.5M vests which is still "minnow" status. At the current rate of growth at 50/50, I would need to create 763 additional posts to reach "Dolphin" status of 10.0M vests. That is about 4100 STEEM POWER. That could be purchased right now for $684.26 SBD. That means for every $0.89 SBD I convert to STEEM POWER, it's ONE less blog post I would need to write to reach dolphin status.
Conclusion
I hope I've made the case for selling SBD for STEEM and STEEM POWER. This is a great opportunity to JUMP up in status on steemit while the getting is good. Choose your goals, do the math. Make wise decisions. Take advantage of the moment.
Steem on!
@ironshield