Trickle-down economics, also referred to as trickle-down theory, is an economic theory that advocates reducing taxes on businesses and the wealthy in society as a means to stimulate business investment in the short term and benefit society at large in the long term. - Wikipedia
It did not really work in the corporate empire that runs the world right now, but it is working brilliantly here on the Steem blockchain because people 'get it' and exercise the true spirit and intent of this theory. This theory needed a gifting economy in order for it to work. The Steem blockchain produces a pool of steem each day that people give to one another through their upvotes. It does not cost the giver anything as the steem does not come from his / her own resources. Instead it is drawn from the pool as more steem is generated as a result of the work the artists do here.
When people like @FullTimeGeek delegated his steem to 49 other people, he literally engaged in the trickle-down economic model by gifting the use of steem that he would have normally been using himself. His wealth is still his and he can withdraw it at any time if he chooses. However, by delegating steem to other people, he is building a stronger community and over time that will be his reward as the price of steem will increase.
I recognize the spirit and intent of this idea and I've embraced it as well. I've delegated all my steem to 9 others and I use the steem he delegated to me to continue my work curating and being an author here on this platform. I've encouraged the Stewards of Terra Mater to not pay me back, but rather pay it forward so that the ripple effects of this economic theory can be felt throughout the world. I'm rewarded by the increase in the price of steeml AND by the publicity which brings more followers to my blog.
So how does one delegate steem?
If you visit steemd.com, you will notice in the top left corner a status window that shows you your voting weight. Under that weight is how much steem power I have (4804) plus steem power that @fulltimegeek delegated to me (10024) minus steem power that I delegated to other people (4723). Your status will look different but I share this to point out that if somebody delegated steem to you, it is not available to be delegated to somebody else. The system does not allow me to delegate @fulltimegeek steem to others. I can only delegate my own steem. So when your wallet shows a different number, don't freak out.
What this is showing you is the balance between delegated steem coming in and going out. It is not an indication that I delegated somebody else steem.
Going back to steemd.com, if I look down the left column of statistics on my account, I will come across a section about vests.
Vests are short form for 'inVESTment' into the Steem system. When we take steem and 'power up', we are making a long term commitment to the community. Think of it as voting shares in a corporation, even though there is no corporation, but they work in similar ways. When we power up our inVESTment in the system increases, reflected by the vests and as a result our vote power increases. We can then reward other users by gifting larger shares of the reward pool as our voting influence increases at the same time.
@fulltimegeek delegated over 20 million vests (voting shares) to me which works out to over 10,000 steem. This number I cannot touch. The number I'm interested in is the 'Vesting Shares' that I have. This is what I can delegate to other people. The 'Delegated vesting shares' is how much I've already delegated. The difference is what is available to delegate if I choose.
So how do we delegate?
First step is to find somebody that you want to support. What I look for is somebody who has very little steem power, writing on homesteading, off-grid living or working on their spiritual growth, peace, freedom, etc. When I find somebody I want to support, I then visit www.steemworld.org, click on 'Balances' in the left column which displays a new screen in the right. In that screen is a button called 'Delegate SP'.
You enter in the id of the individual you want to delegate to and then enter in how much steem power (SP) you want to delegate. The window will convert that to vests and you can check to make sure it does not exceed the actual amount of vests that you have to delegate. You will need your Active Key to authenticate the transaction, which you can find in your wallet | permissions. If you click on 'Login to show', it will then show you the key to use.
After the authentication, you can then visit the individuals wallet to confirm the transfer. If at any time you want to remove the delegation, repeat the process. Except this time you would enter zero in the SP field and it will remove the delegation. Note: when you do this, the steem power is removed from the user immediately, but it takes a week before you can use it again. So it sits in limbo for a while.
When you delegate your steem power to somebody else, you cannot use it yourself, so your own voting power will decrease. But it enriches the lives of other people and gives them a boost to help them get started. @fulltimegeek delegated steem to me and I delegated my steem to others. When I vote, it is as a result of the delegation from @fulltimegeek. When the members of Stewards of Terra Mater vote, it is due to their own steem plus what I delegated to them. The trickle-down theory really does work and it is changing the lives of everyone impacted by those who are willing to make the paradigm shift in thinking, behaving and living.
It is getting clearer now when you explain VESTS stand for investment. It makes sense all the way.
What a platform to be part of.
Keep on steemin'
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I'm glad that a few of the puzzle pieces fit into place for you. Steem on my friend.
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Another piece to the puzzle! Great info.
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Yup. I have my own views about leasing SP here. To me it is usury and that is a horrible practice used by the state, banks and corporations. I frown upon it here due to the nature of the gifting economy and anarchy that this was designed to support. People to lease out their steem power are trying to implement the old world methodologies and it is not going to work. Usury is a very harmful action to people like yourself. I am grateful that you are considering other alternatives. Thank you for sharing. These views are important to bring out and discuss.
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When I came back I connected with three important mentors. You are the most recent of the three.
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Wow. Thank you for sharing that. <3 I have no words, which is really rare for me. lol Usually people cannot shut me up.
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I've enjoyed delegating my SP, since others are able to curate more than I am able to. So, I grant them some of my SP because I know it will be used to reward good content and encourage more good content! @ironshield
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Bravo! Good for you.
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LOVE that you made this post!!! There are some people (not mentioning ANY names) that may not know how to delegate... yeah... really, there are!
I successfully did my delegation this morning... second one in the works today or tomorrow!
And I like how you compare economic trickle down with @fulltimgeek! GREAT comparison!
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lol. I won't drop any names @goldendawne! I'm glad that you LOVE that I wrote this post. If anything, your struggle with the process, which matched mine, prompted me to write it. So I have you to thank for the inspiration. Bravo on your delegation. I noticed you now have 400 steem out there helping others. That is a big step. Congratulations for paying it forward and for trickling it down!
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Thank you!!! And yes, it is easy.. but fear was driving me the other day.
And I have one more delegation to fulfill this week! It is such an unbelievable feeling to do this for other people! I am... WOW! It makes my soul BEAM!
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Right! It is an unbelievable feeling to experience! Bravo to you. My spirit sings being a witness to your journey.
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Light bulb!!!!! Thank you for explaining this in terms I can understand!
Now I can look at doing more!!
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Build yourself up first, then help others! <3
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Whales - Orcas - Dolphins - Minnows - Dust
The "-" means "should help grow.
There are growing numbers of each, so only one squad can help the squad immediately below them with effectiveness.
In that sense, trickle down economics works really great.
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Agreed!
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Great explanation of delegation. I am new and this was very informative and helpful. I agree that by allowing others to use your SP you are greatly helping the community. I can see how if you had a lot of SP it would be hard to find quality content to upvote. As a newer person to the platform I can attest that when you get an upvote from someone with alot of SP it is very motivating and makes you want to keep on working hard here on steemit. Great post, think the steemit community would be much better off if we all had your mindset.
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Thank you @bowentroyer and welcome to steemit. I think you will find that the mentality here is very different than the real world and it is my hope that we can influence the real world in meaningful change. We can show people how it works here, train our minds to think differently and then implement the changes in our lives. I see positive change coming as a result. Thank you for taking the time to write your comments and views. I do appreciate that. Peace to you.
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Thank you for this guide and also stressing upon the fact of how to ripple effect can change the lives of many 1000s more. I am well aware of the noble initiative from @fulltimegeek to create #StewardsOfGondor and who including you are changing the lives of many others, supporting them and rewarding them for the hard work they have been putting into this community. It is a simple but yet very effective way to expand the horizon and touch much wider & larger group of people which one person along cannot do so. Thank you for all your efforts.
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thank you. You are absolutely correct, in that it is impossible for @fulltimegeek to touch the lives of thousands of people all by himself. By delegating to 50 other people, his reach now extends far beyond that of a single man. Thank you for seeing that, for taking the time to comment and share your thoughts about what is unfolding. May Creator bless you with peace, freedom, prosperity, joy and love.
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You are a selfless being, WhiteWalkingFeather.
One to be emulated, whether you think so or not.
Trickle down theory is so broken in the corporate world for greed is so rampant, like your other post you recently mentioned. Here it can work still, with the strong, loving people like yourself and the community of Steemit where there are so many people filled with Love and not Hate who have influence still.
We must be vigilant in keeping Steemit free for all, safe and driven by love, not hate (greed).
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Thank you. I also agree with your views. Steem on my friend. :) One can change the world!
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Great explanation. I hope to do this in time. Follow in the great examples so many of you are giving to this community. For when we lift others we are also lifting ourselves.
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I look forward to being a witness to your journey of gifting.
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Hello Sir @wwf,
After reading your whole post about SP Delegated. I am really Impressed and Appreciated the positive and high approach of @fulltimegeekwho tells us a real path yo use their SP, so many people are using your delegated sp due to which positive results here in the shape of development and promotion of community. I SALUTE both of you for your mission and my best wishes always for you.
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Thank you. May our example influence others to do the same. :) <3 Peace to you.
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I commend you for delegating to help others, and it's a great example of the way the Steemit community can be a "gift economy" centered around the idea of paying it forward, and at no cost to anyone. Even if this place can't change the world all by itself, it can certainly serve as a "training ground" in teaching more compassionate and caring behaviors!
Bright Blessings to you!
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Thank you. Agree with your views. Well said.
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I have read many articles and Sops of Steemit to know about the delegation of steemit but believe you me you are a born Professor, Your quality to explain things deeply is Really Great.
Thank you so much for this detailed article to know about the technicalities of Steem Delegation. I am sure this is going to help many newbies and minnows including myself.
Your level of Commitment to promote Peace is now an example for me. Let me tell others that I am one of those Nine Stewards of Terra Mater whom @wwf delegated his Steem. I am Really thankful to you that you want us to succeed as well. Well Guys isn't he an Angel ??
Sure He is <3 <3 <3 One and Only @wwf <3 A Selfless Kind Soul :)
Massive Respect to @fulltimegeek who took this great Initiative <3 <3
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I have a talent for explaining complicated concepts in simple ways. Comes from my 20+ years of working in the IT industry when computers started flooding the desks at peoples work. Thank you for your words of gratitude. However, I don't want to be on a pedestal my friend. The higher you raise somebody up, the farther it is to fall. I ask that you see me for the spiritual being I AM. I make mistakes, I have flaws, I am working to improve myself. I appreciate the gratitude but in the end, I am figuring out life like everybody else.
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Now this is your humble behavior My Best Friend <3
More Support and Respect to you The Spiritual Guy <3
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I like your thinking. You got the delegation from @fulltimegeek and you have enought power to "work" on steemit.
So you delegate to other people.. it's a way to trigger a virtuous circle.
I'd never really thought of it, but thanks to make me thinking of it.
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very informative article. one day when someone delegates some steem to me, I'll be sure to use it well. until then I'll get by slowly accumulating steem power from my own original content posts. I did delegate 10 steem. I think it's to minnowbooster. I wanted to see how it works and I can't remember now. trickle down economics generally has been a disaster in the corporate sense. it's not so much trickle down as hoover up. it's much different in the strange new world of crypto !!!
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Yup. This world is turning the old world up-side-down. The paradigm shift is massive and I don't think governments or corporations are able to deal with it. Thank you for taking the time to write. Bravo to you for delegating steem. Peace to you.
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yeah the great thing about paradigm shifts is that they tend to bubble up slowly, are not noticed by the powers that be and we wake up in a whole new reality. (often not without a struggle first.) It happened with modern art around the 1880's - 1890's which really set the consciousness of the 20th Century... until the counterculture revolution, the effects of which are still being felt. the machine economy and blockchain revolution will enable a shift which many minds have been pursuing since the mid 20th century.. the birth of rock n roll. taking human decision making out of things which are easily corruptible, will reset the game. it will first of all, do away with petty corruption and game rigging. it will eventually augur in a planet saving approach to doing business. read this back in 50 years and you'll find that the offspring of A.I Chain based systems will be quietly running the world with peaceful efficiency in a post carbon, post capitalist world. Ok make that 100 years. there's a lot of resistance and a whole generation of horrible old men to go away and their smell to evaporate before that happens.
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You just said some vital point about steemit here, I think we all need to make the paradigm shift by delegating to others if we have enough SP. I see daily how @fulltimegeek stewards are doing great. I wish other great steemian with high SP can do same, the steem eco-system will be a better place.
I believe someday I will have enough SP to follow the same trend you guys are doing.
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Thank you very much for this guide .really amazing posts Thanx once again.
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It's always great to check in on your posts! Whooop!! Whooooop!! For paradigm shift🎉🎆 Yeeeehaw ❤ i am rooting for your next 500SP!!! (At least that's what i think you're aiming for!) Ahhh, the technical stuff!! I am blown away by the support on this platform. And, fully in love with the positive - uplifting - hopeful way i feel each time i spend time interacting!! It's awesome. Great post, one day i will deligate! One day i will be a big fishie🐳
I am really enjoying the process!! And, it seems you are too!
😊❤🦋🎉
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resteeming this for personal reference
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that is so important information, thanks..
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You are welcome
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Awesome, it's like a chain on the blockchain, I think there is a lot of info missing in that aspect, thanks for making it easier.
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Good post!
I wish I got Steem to delegate.......
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Thank you. You explained something I saw in others. I saw a few people. Steem Power also has a negative power. I learned what is now. I hope I will be strong enough to power one day @wwf
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Care to expand more on this negative power that you speak of?
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Ah, yes. That is the steem that I delegated which shrinks my voting weight. Thank you for the clarification.
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You' re welcome, thank you very much indeed a very descriptive article.
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