Thanks for this.
Very interesting - I just did the calculation. I guess I need to get a lot more SP... :) Now i need to decide if it makes sense to buy more. The problem of course is the illiquidity of Steemit. I understand why, but at some point they must make Steemit more liquid.
Right, @bigsilver! It seems like a person needs at least 10,000 SP to even be a tiny player in the game. I'm just taking everything I get from curation and writing, and putting it into Steem, and using that to pay for the leased SP. Nothing out of pocket that way. I'm committed to growing my entire Steemit asset collection organically from the platform no matter how long it takes.
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Yes, I'm doing the same.
What do you mean "using that to pay for the leased SP" - I haven't heard about that?
Thanks.
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@bigsilver, you can use your STEEM tokens on the https://www.minnowbooster.net site to pay for leasing Steem Power. Choose "Lease from Bot" from the menu. When you type in your username it will conveniently tell you how much you have available to spend. If you get an error message it means you don't have enough to lease any. Next enter the Lease value for 4 weeks to get the best deal. Doing it in this order will let you adjust the amount you want to lease, and see the cost adjusted in real time. Pay for the lease contract with your STEEM tokens once you decide how much you want to spend. It can take up to 3 days to process, but the one I just did happened to be filled within minutes. Check your wallet to see the confirmation messages in the memos as the lease order is processed. It's a really simple process, and if you have accumulated STEEM tokens by rewards only then you are essentially putting those tokens to work at no out of pocket expense. Or you can purchase STEEM tokens, and lease the Steem Power just the same. I leased only 100 Steem Power for 4 weeks (because that's all I had tokens to spend), and it changed my 100% upvote value from 0 to .01. Not a lot, I know, but it made me feel good to be able to do even that little, and it is a step in the right direction. Plus, it is always wise to try out something new with a small amount first in case a mistake is made that can't be undone. Cheers!
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That's awesome info. Thank you for that.
I'll check that out for sure.
I appreciate all your comments and help @mitneb
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No problem, @bigsilver. I just got done leasing 1600 more. I figure that if I do a new 4 week lease every few days or at least once a week I will build up a sizeable amount before too long. Just like building an investment portfolio. Cheers!
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That's great, I'm going to look into that tomorrow. I'm not on here much on the weekends. Again, thanks for the tips.
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