Is there much incentive to power up anymore? by gregm

steem · @gregm · Dec 8 '16 (edited)

$0.04

Is there much incentive to power up anymore?

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<p>I have done some calculations and it doesn't seem that there is a lot of financial incentive to power up.</p>
<p>The yearly "interest" on Steem Power is: 1.5% (totally fine with me)</p>
<p>My curation reward average will equal a yearly percentage of: 3% (on the high end)</p>
<p>That makes the yearly rate of financial return 4.5% for most active Steem Power holders. It isn't bad, but not something that is going to make people power up all they can. This also requires daily curation work, so it isn't "free".</p>
<p>I see the psychological benefit of having Steem Power, but locking up a lot of money probably isn't appealing to most people. &nbsp;</p>
<p><strong>I think the curation rewards should be doubled, or at least increased.&nbsp;</strong></p>
<p>What am I missing?</p>
<p><img src="https://scontent-sjc2-1.xx.fbcdn.net/v/t1.0-9/15380758_10211702665070579_5381911652277830629_n.jpg?oh=8c2ce3b2c2906a2c3459f4a55c37df41&amp;oe=58F7CF52" width="958" height="701"/></p>
</html>

👍 helikopterben, gregm, wesam, robyneggs, shadowspub, inphiknit, silverstack, aidancloquell, pilot, tommycordero, bitland, jfesrom, the-bitcoin-dood, sokoloffa, jlufer, afrog, jbreezy, moonie, trisha, walhallo777, kosmatimuc

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@robsteady · Dec 8 '16

The whole idea of the last hard fork was the put some restriction on the overall supply of STEEM to help the value of what's already out there. In general, would you rather have a lot of Steem that loses value quickly or get smaller payouts and have the value with a more stable or even positive trend?

👍 silverstack, afrog

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@gregm · Dec 8 '16 (edited)

Yes I know the reason for the hard fork, and I was 100% for it. 

I think you are missing my point. Why hold Steem Power when you can just hold unlocked-up Steem? Is 4.5% yearly return worth it?

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@robsteady · Dec 8 '16

Sorry, I do get you, I just didn't express my agreement well. That's the problem with Steeming at work. I don't spend a lot of time trying to curate anymore so I'll probably move most of my SP to liquid STEEM and holding it that way. I also don't feel ~4.5% is enough to keep it powered up.

👍 gregm

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1 reply

@thejohalfiles · Dec 8 '16

I no longer use the banking system. I prefer the interest rates here. I will continue to power up as long as this platform continues on the path to success. I hope you have been enjoying your time here. Nice post.

👍 gregm, inphiknit, afrog

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@gregm · Dec 8 '16

I am staying powered up as well.  However I do think there should be more of an incentive to stay powered up. I know it sounds like complaining after fixing the inflation rate..., but a little tweak perhaps.

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@thejohalfiles · Dec 8 '16 (edited)

No worries. I do agree we should as a community be brainstorming and always be thinking of how we can increase the incentive to power up. Think about all the other applications that may branch out on the STEEM blockchain (Busy, SteemQ etc..).

👍 gregm

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1 reply

@everittdmickey · Dec 8 '16

You did some calculations?
'show your work' one of my math teachers used to say.
Perhaps the math kids can check it for you.

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@jphamer1 · Dec 8 '16

exactly no point in having steem power anymore. trade it or buy other crypto you will be better off.

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