Investment on Steemit like every other investment is simply forgoing current consumption inorder to gain the principal plus the interest in the future. Investment is very important because not only do we invest to anticipate future returns, but to keep the business or organization growing stronger in to the future. Steemit like all other organizations runs on capital and other human resources, hence, it is very crucial we as steemians should put back our earnings into the system to keep it growing and running..
Great contest to help us know the importance of investing in to the steemit blockchain, I think this is a good time for a contest like this
since they are bunch of investment activities and initiatives going on on the blockchain. Kudos to
@magcarnie,
@oppongk,
@njaywan and all the executives of
@steem-ghana for organizing such a great contest.
Steemit is a synergy between steem and social media. Is a platform that runs using steem as its fundamental unit of account, users are rewarded with steem for their contributions to the platform, All who contributes meaningful contents to the platform are recognize and rewarded for the value they add to the platform, hence steem is the cryptocurrency token on the steemit blockchain. This is strategically established inorder to give steem a powerful advantage over its competitors cryptocurrencies in the market, so it is a responsibility on us as steemians to invest on the platform in order to give steem the advantage and value in the market.
How to invest in to Steemit
One of the principle that is used to guide steem blockchain is the sweat equity principle, it basically states that, all capital on the platform are equally valuable. This means that users who contribute the little time and attention to curated contents on the platform are equal as those who contribute their resources in the form of cash or steem tokens. This gives rise to two basic ways a steemian can invest into the steemit platform, that is , investing your time or attention and also investing cash or steem tokens.
Investing time and attention
The steem platform aims at building communities through constant interaction and networking among community members, it is designed for communities to provide several services to its members. Some of these services may include providing curated news and articles, entertainment, solution to personal problems, education etc. This means that when we invest our time and attention in creating contents, we help the platform to achieve its objectives and aim and also providing services to communities. Investing your time on the platform is as important and rewardable as any other contributions on the platform.
Investment through Steem
The classes of assets on the steemit platform are, STEEM, Steem Blockchain Dollar (SBD), and Steem Power (SP). SBD and SP are hinged to the steem tokens and they derive their value from the value of steem, this makes steem the only tradable token on the steem network. SBD is a convertible token that is earn by creating contents on the steem network and it is aimed to bring stability to the steem network. SBD can be converted to steem for trading among Steemians and on exchanges.
We can invest in to the steemit platform through a long term capital commitment called powering up or committing our steem to a thirteen week vesting schedule called Steem Power (SP). SP cannot be traded directly and a user with a higher SP has much influence on the steem network and controls a greater proportion of curation rewards. It is very important to invest or contribute by powering up our steem and SBD, because this makes us a partial owner of the platform and the higher the shares you own, the higher the percentage of influence you have on the platform.
How to invest through power up
The default distribution of rewards from posting is set at 50% SBD and 50% SP, but it is possible to set it at 100SP from the Advanced settings so as to invest 100% of the earnings from a post.
We can also power up our steem that we earn from creating content or investing our cash to the steem network, we do that from our steem wallet. The process to power up is as follows;
I will input the amount of steem I want to power up.
By inputting my active private key, I have successfully powered up all my steem, and that is my investment on the steem network.
We can power up our SBD by first converting it to Steem on the steem market using our private active key.
Importance of Investing through powering up
By powering up, it gives us much stake or ownership on the steem network.
We will have much influence on the platform and will control a higher proportion of curation rewards.
when we invest by powering up our steem, it increases the volume of steem in the market thereby adding value to steem and the steem network.
We earn higher rewards which can make our lives better now and in the future.
As stated earlier, steem will gain power and more advantage over other cryptocurrencies on the crypto market when we invest in to the steemit blockchain.
Conclusion
Investment in steem is believing in steem, is good to invest because that is our power and authority we have on the platform. Let steem on and invest more by powering up.
@nattybongo
@oppongk
@njaywan
Thank you for passing by
Great…. ☺️
Great entry, all the best
Thank you so much @magcarnie.
This is a very educative post, thanks for sharing with us, and all the best in the contest.
Thanks @albertodecrutor.
Thanks to you for your submission
You have been curated by @nattybongo, country representative (Ghana). We are curating using the steemcurator04 curator account to support steemians in Africa.