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RE: A Bit Curious Contest #1 100 SBD in Prizes - 7-5-18
I am a crypto trader and my primary interest in steem is to have a passive income. i started exploring steem about a year ago but did not register an account until december and took me a few more months to actually start engaging. my interest is still passive income but i started enjoying engaging with other likeminded people.
During your adventures on here, what kind of topics do you feel that you've had most success with? Commenting and blogging for a passive income seems amazing, but for many I'm gathering it is a tough journey to just jump right into on here.
its a big topic to cover in a comment but i will try to keep it short and share my experiences. i originally wanted to be a crypto trader and have it as my primary income. i still plan to do that but i need to get a few things in place before that can happen. one important thing to mention here is that i am not looking for a quick money i know its a grind and i plan to invest my time into it and wait it out for a few years. my whole plan is to retire in 10 years with enough in my plate and the figure i wanted to invest now was $20k which seemed like a good plan and it still does.
on steem the most beneficial was blogging but it was time consuming and i had limited grip on enough topics to blog multiple times a day with quality content. i had some success with a few posts related to crypto but i had to use bid bots to make it more beneficial. it was good while the steem price was stable, once the price started declining bid bots were not profitable anymore or i should say it was not worth the effort. if i placed a bid for 2 SBD and i got voted 6 in post rewards, it was a pretty good deal on that day. but in 7 days if the steem price came down i ended up getting 4.5 in post rewards and that was not enough and a good decision turned out to be bad one. happened few times before i decided not to use bid bots.
now i am mostly engaging in comments on other posts, which is pretty useful since its quick and easy and i can easily do alot of comments through the day on various posts. i noticed that my followers are increasing rapidly as i approach 1000 followers. my plan is to have 5000 followers until end of the year this should give me a nice little audience.
i bought some steem and converted into SP and am doing self voting which is not that good but as i mentioned my interest is monetary. i do upvote some good comments and posts by others but most of my upvotes go back to me as i have been spending alot of time in commenting. i had 390 SP a few weeks ago and now i have 412 SP which is what i earned. i think in a bearish market that looks pretty good. i have alot of calculations in excel sheets and i have some other stuff in pipeline that will help as well. those include a trading bot which i use already on binance and bittrex with pingpong approach and i have a steem manager app which will do a few things on steem for me as well.
To wrap it up, i think its pretty interesting that steem is used by different people for different reasons. i am still confident steem will allow me to execute my plans and it will have a major role in my passive income becoming my primary one.
I appreciate the well written and thorough post. I personally am still learning about SP, SBD, etc. though from what I've gathered, the more SP you have the more your votes are worth. Which is why I've been putting some crypto I've been earning throughout the day into SP at this point in time. The SBD I have been accumulating also throughout the day will go to contests like this, or donating some here and there to various users.
I'm curious though, I've seen some basic posts with just images make more than some high quality blog posts I've read, is this a normal trend or just bad luck?
As for the bots, I've researched on them a few times, so I have a decent understanding of them so far. I do see how the price falls and rises can impact your % return so it is something to be cautious about and I'll take note of it as I didn't actually account for that. Though at the same time, my goal with this contest was reach, so the return doesn't matter to me at the moment.
yes SP is directly related to vote value but its not the only factor. one thing to note is how frequently you upvote. With every upvote you lose voting power and as your voting power decrease so does your upvote value. With your SP your 100% upvote should give $0.05 at current steem rate but since your voting power is down to 38% your upvote is $0.02 you need to make sure you dont upvote more than 10 times a day if you want to give full upvote value, or you can decide to give less than 100% and keep an eye on voting power. it charges back in time so its not a big issue. you can use this tool to monitor it https://www.steemnow.com/@bit.curious
you can connect with me on discord as well to discuss some of these things i have decent understanding of steem system.
I appreciate the information and link.
That makes more sense now, I was wondering why it fluctuated from $0.02 to $0.01, I didn't know you basically are metered and that determines the amount of the vote. I will have to be more vigilant with my upvotes, as I was just upvoting everyone who posted on this blog so they at least got something for their time.
Thanks again!
no worries if you want to ask about anything else post on my comments or look me up on discord if you use that. you can still upvote all the people who commented on your blog you just have to spread it across the span of 7 days since they will not be getting rewards for their comments until 7 days.
each upvote takes about 2.4 hours of voting strength so you can do one full 100% upvote every 2.4 hours or you can do 5 upvotes of 20% every 2.4 hours. you still give about 2 cents with 20% voting power and you can increase or decrease based on the value of their comments.
I currently don't use discord but plan to get around to it in the near future. I'll take note that everything takes 7 days to "mature" and rewards are credited.
So basically once I'm at 100% I can upvote for 100% every 2.4 hours, that's not so bad. I'll just have to keep my idle hands at bay and not upvote most every comment on my posts, rather spread them out across the 7 days.
you have 157 followers in your first week, you will be doing great here. i will be increasing my steem power soon as well i just want to test out steem recovery system a bit more before i put more in.
i upvote based on my availability. if i am going to bed i would upvote 3-4 100% at a time since i wont be able to upvote while i sleep. last week i had to go on vacation for 3 days so i upvoted till i reached 72 hrs recharge time.
@onlymoney