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RE: Vlog 359: Personal preparations for a long bear market even though it might not happen.
Morning @exyle
Please would you explain again how more Steem Power means you earn more Steem?
Is this true if you don't self vote?
How much is the difference when we're talking small numbers, say 1000, 2000 and 5000 Steem Power?
How do you live off Steem without powering down? Are you saying, for example, you have 100K SP and you make more every day, say 80 SP, so you power down a portion of that 80 to live on whilst the remainder adds to you 100K to keep building you to 150K.
Thank you for your help. 😊
Steem power is pretty linear.
So in theory someone with a 1000SP should make half the SP as someone with 2000SP.
Of course because this is DPOS (delegated proof of stake) if the 1000SP person brings more value to the platform than the 2000SP person it can be that the 1000SP makes more STEEM because he gets more upvotes from people that have even more SP.
That's what makes this place fun. But adding this 'extra' value has become increasingly difficult as it should. Everyone can blog about something but not everyone can add value.
I know my content is not life changing that's why I have and still are stacking STEEM. The people that bring the real value currently are developers in my opinion (dlive, dtube, steem monsters) and you slowly see more rewards flowing in their direction.
But if you purely look at generate power of the SP than it's linear. (aka self vote 10x a day).
Half of the rewards is paid in liquid form. You can choose to sell that to live off. I don't, I power everything up at the moment.
I believe that everything I power up today will be way more valuable in the future. Especially when it will get a new use case when SMT's come out.
You forget to mention the more VEST you have the more interest you receive passively.
Do you know what the rate is @chesatochi? And why doesn't it show in the savings area or is that something different? 😊
For each Mvest you have under your account, you get around 0.001 of Steem Power every hour without doing anything, the magic of a cool passive income in the crypto world!
Ooooo. I love the sound of that @chesatochi.
Do we get more when the price of Steem is higher?
No, the interest is payable from the inflation mechanism of Steem blockchain.
OK. Thank you @exyle.
I thought I might be missing something with regard how more Steem Power means you earn more Steem, but it is as I thought! 😁
Have a fun day!
Awesome question Gillian!