This is the Community Account for the Community banking-finance.
Proverb: There is strength in unity. A single twig can be broken easily, but a bundle of twigs is very strong.
Delegated Proof of Stake creates a stake weighted voting community. The more stake you have, the more powerful your vote. The power of your vote incentivizes content creators to create more content and to stay active on the platform. So If you feel your not making enough impact by yourself, you may want to consider delegating to a manual curation service that shares your goals and vision. Additionally communities have curation accounts which vote on the posts of the community members to encourage the creation of that type of content. Curation rewards are also distributed preferentially to those with higher SteemPower. So If you delegate to a group which shares your vision the groups can not only reward the type of content you want to see. It grows stronger every week, so the rewards keep getting larger, which is an additional incentive for content creators to join or stay in a community.
Delegation explained
To understand delegation you need to understand that unlike many other cryptocurrency blockchains which have one coin, the Steem blockchain has three called Steem, Steem Power and SBD. “Influence” or “voting power” on the Steemit platform depends on how much Steem you have “Powered Up” or converted to Steem Power. Steem Power determines how much your vote is worth on the platform. The true beauty of delegation is that you only loan out this influence, you keep the Steem in your account always and only loan out the SteemPower on paper. Plus you can take back the “influence” or “voting power” anytime you wish and use your voting power for something else. To underscore this point, when you delegate you will see a negative number in your wallet representing the amount delegated.
The Safety of Delegation
Unlike other investments of cash with delegation your Steem Power never leaves your wallet, but the influence or voting power is loaned. You still have and control your Steem Power. So you can take it back anytime you want by Un-Delegating it. You don’t have to ask permission to take it back and you don’t have to wait for someone to give it back to you. You just Un-delegate it.
Examples of Delegation
If you delegate your SteemPower to the community account called flowerspictures you increase the SteemPower of the account which rewards content creators in that community.
How to Delegate Below
The simplest way I know to delegate is by using Steemworld.
I type www.steemworld.org/@shortsegments into my browser and then hit return.
You type www.steemworld.org/@yourSTEEMITname.
Then once my personal page loads I go to the section called delegation.
Then a box opens and choose who You want to delegate to and how much.
Follow the instructions in the Pictures.
That brings you here your Steemworld page
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Un-Delegating
When you want to take your Steem Power back you use the same delegation section and replace the amount of Steem Power you delegated with the number zero and you get all your Steem Power back. So if I delegated 100 Steem Power and I wanted to get it back, I would go in and delegate to the same person again, but this time instead of delegating them 100 I would delegate them “0” or zero Steem Power and get all my Steem Power back.
Un-Delegating
When you want to take your Steem Power back you use the same delegation section and click the X at the end of the colum or choose delegate and put zero for amount. Choosing X is faster.
Follow the pictures:
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Your Done!
Delegation things you should also know.
- You can only delegate Steem Power you own. So you can’t delegate Steem Power you leased or Steem Power someone delegated to you.
- Delegation process is possible only if your Steemit account holds at least 25 SP.
- Once you undelegate Steem Power the account you delegated it to loses that Steem Power immediately and can no longer use it. However you won’t be able to use it for 4 days. This is a safety feature to protect the blockchain from people who would abuse this delegation system.
Suggestions
I suggest you delegate 25-50 SP or more depending on your ability. The SP will be used by the “community account” to support this community. The account is used to reward this communities content creators. The administrator will not upvote his/her own posts. You should feel free to upvote this accounts posts, so that the accounts SP grows faster and the rewards from the upvotes grow larger, more rapidly.
✍🏼 written by Shortsegments, the Administrator for this Community.
Picture Credit: Pixabay Royalty Free photos link: www.pixabay.com