As we come to appreciate the returns that Steemit provides, every one of us makes decisions on what to do with those earnings. This is not a post to place judgement on the decisions that Steemians make when it comes to their earnings. It's simply my own musings about how to best handle the rewards. Everyone has their own financial situation, and my guess is you are here at least in part, to earn. For many minnows like myself, I'm guessing this is a very big part of the reason you are here.
Minnows - Why Are You Here?
I don't think any model of Steemit works for a person if they don't get right into it. Does that make sense? Us Steemians love this platform!But be honest. It's okay to admit it. A large part of our attraction to the Steemit platform is that incentive to earn Steem and SBD.
Minnows Earn Mostly By Investing Hard Work Into The Platform
Another common characteristic of minnows is that they don't enter Steemit buying loads of Steem. We mostly work on the platform to build it up. Both coin and Steem Power.
So If I Work Here, Do I Need To Reinvest?
Again, no one IMHO should question a user's answer here. But for me, it seems like a neccessary ingredient in the recipe for Steemit success.
What Will Reinvesting Do?
When we post, we automatically reinvest in one of two ways. We can take our earnings all in Steem Power which grows our influence here on Steemit. Our second choice is to split our earnings 50/50, and the third option is to decline earnings.
How Should I Choose?
When I first started, I read it was a good idea to set my payout all in Steem Power. The thing is, I also came to Steemit with an interest in cryptocurrency. Where better to start investing in crypto than Steemit, especially if you don't have funds to buy in? For this reason, I set my payouts to 50/50. Because of the recent disparities between Steem & SBD, I ended up better off than a full Steem Power payout. This may be a rare situation, and that's something it seems I should be aware of. If Steem goes through the roof, it may be better to simply power up.
Steem Power Leads To Better Earnings
Exactly! That's why powering up is so important. So reinvesting in Steemit ultimately leads to success, but can trading give me more leverage to do that? At least for myself, I believe so. From the outset, I saw that by exchanging valuable SBD I could get way more Steem. In essence, I was able to turn that Steem into as much Steem Power as if I had set a payout to full Steem Power. I also had plenty of Steem left over from that payout to invest in alt-coins.
But These Cryptos Are Crazy!
Yes they are, and that can be a formula for success or disaster. If one coin swings low while another you hold is high, it might be time to do some shuffling. Redistribute incorrectly, however, and pay the price. All in all, trading appears to be my best move if I take it slow and learn. Still fact remains: I won't have much to invest in other types of Crypto if I don't reinvest in Steemit. Education, a spread of alt-coins, and a constant quest to balance the Steem Power to alt-coin investment ratio look like the best moves for me.
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Thoughts? Opinions? Questions? @inalittlewhile Will Answer Them All!
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Yup, 50/50 has strictly greater flexibility. Doesn't make sense to use direct power up to me.
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Maybe if Steem and sbd fell low I might go all SP? IDK. But this way it's possible to increase earnings, then put it back into Steem Power.
The trouble is if Steem goes way up, I'll wish I put it all in here. It seems my philosophy must be able to always adapt. :)
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Seems like we both have the same mindset and strategy brother :D
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Hey @creatovert. Thanks for stopping by. It'll be interesting to see how our game plan changes over time. :)
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My very first posts haven’t paid out yet so I’m haven’t had to make this decision yet...Im planning to be here in steemit for the long run so I’m still trying to figure out what the best use of my earnings will be for me. Thanks for providing a some insight!
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Got you back on your movie pass post.
You can poke around the internal exchange to see how it works. It's easy, just trading sbd for steem or vice versa. You just want to wait and hopefully get a good price.
It's not always like this I hear. Steem was under .150000, and sbd was worth like $11 or $12.
So trade 1 sbd for steem and get like 7 + Steem. No one has been holding sbd, but now Steem is starting to go back up. :)
Btw. I love your banners and post headers. That's an area I need improvement in. Cheers!
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