Who Benefits if a Prize is paid in SP?
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Prizes
The way to be rewarded is by receiving upvotes but there is more!
Steem (SBD)
It's clear: If you receive Steem it's yours. Steem you receive if someone upvotes you, if you are tipped (tipu) and if you are rewarded with Steem (usually you receive it via a transfer).
If you receive a prize you won for real depends on the the one who sends it (host of a contest, a community) a transfer can't go wrong. If your name is filled out the Steemit wallet will warn.
Not everyone who sets a prize pays so check if you won and have doubts if it is transferred.
You can have a look in your wallet, in the one who should pay it and if the transfer is older than 6 days you can check the transfers at https://steemworld.org/@accountname.
SBI
Steem Basic Income is an investment. The more SBI shares you have, the higher the upvote is you receive. This means with enough shares you still receive an upvote if no one else gives you one. Many (old) Steemians have SBI shares. They are given as a prize, you can gift someone else but you can't buy them for yourself. You do receive the same amount as you buy for someone else. So the Steem spent on buying SBI is not wasted since you receive the same amount as you give away.
See @steembasicincome
UVF
UpVoteFund uses the same system as SBI. Many Steemians, especially those we hardly interact with, own UVF. Here it also is: the more UVF shares the higher your upvote. @upvotefund upvotes your posts and comments.
UVF can also be earned by joining the weekly contests and posting by using the boylikegirl.club site.
Booming Upvote
The first time I asked "What is it" was about a booming vote I "won". I didn't win it but was nominated for it. Nominated means the community will fill out a form and if the Steemit Team agrees (SC01 or SC02?) the upvote will be given. In theory, this means it can be denied meaning you receive nothing and you didn't win anything except for being mentioned.
By the way, the answer to my question was: You will see.
SP
The second time I asked "What is it" was about giving SP instead of Steem for a prize.
If you "win" SP (Steem Power) this means someone ( a community, the host of a contest or a sponsor) will delegate Steem to you. You can find this delegation back if you use https://steemworld.org/@accountname (fill out your account name and see delegations incoming)
It may be clear that delegations can be made undone anytime. So this also means that the prize you receive can be temporary.
Benefits of paying in SP
- Paying prizes in SP saves the moderator/SC/host of a contest from calculating the club status. The tools used only calculate the total of normal transfers and vesting transfers. This means that the club status of those who pay prizes shown by these tools is wrong!
- It is an emergency solution for those out of Steem
- The delegation can be made undone and there's no loss of Steem.
Negative of paying in SP - The SP isn't yours
- Your voting power grows but no matter how much SP you "won" it can not be powered down, sold, will not grow your account and you cannot achieve dolphins with SP you did "win".
- A delegation can be taken away at any moment without you noticing it. If this is the case and you would notice it most likely you cannot fight it.
All Prizes are real prizes except for "payment" in SP. This is a delegation where the receiver has to trust that the delegator will never decide to undo the delegation. Imagine you pay 25 Steem per week in SP, 100 per month = 1200 SP per year... this is SP that might be needed one day and if that happens you have have nothing not even a bit extra power to upvote.
If you notice a part of the info is incomplete, please, let me know.
I appreciate the mention. I understand that it’s an investment, but as anyone would do before entering into one, I’d like to fully understand what it offers for both me and the community as there are still some grey areas I'd like clarified.
Here are a few lingering questions I have regarding UVF:
*Does it upvote all my posts and comments? Or only once in a blue moon?
*Is there a required minimum shares (similar to SBI which requires at least 14) to ensure an upvote once a week?
*Does having a higher share ensure an upvote on all my posts and comments?
Steem can be an investment (if you powerup or save or sell if the prize is high and buy more if the price drops).
SBI the same
UVF and SBI upvote on average all types of posts but a certain "power" should be reached before you receive an upvote (see it as your VP (see https://www.steemworld.org/@henryclive). The more shares you have the higher and faster your upvote.
You will not receive an upvote for everything you post on one day which most Steemians will also not do or are not able to (that's why one post per day at most is advised).
If I remember well the minimum is 12.
The more shares the higher your upvote. If you post again (same day or next day) the vote will arrive but be lower because you have to receive that "VP". This is the same for SBI as it is for UVF.
Thanks a lot for answering my questions straight to the point. 🙂
In this case you are not volunteering entering in an investment since you don't invest your Steem.
I see. Got it.
Also, I've only realised it now why the 10SP delegated to me when I first created my account was gradually taken away every time I powerup...
Did it? I never checked it as I started. I believe back then it was 25 (?) Without SP the account it useless.
What I still don't understand is where the part of the SP goes we have. If you look in your wallet is says that the SP is currently reduced due to...
Currently is forever (I am sure I asked this question before).
@aneukpineung78 do you have the answer?
Yes that is right, the 10 SP initial delegation that some "lucky" Steemians (not all as I know) receive is temporal and will gradually taken back. It's not a new thing.
@henryclive, I believe you can grow faster if you invest. At least be in club5050. I was away for 27 months and when I got back several months ago, my wallet -when I left it had 1000 something Own SP- was empty, it had been "cleaned" by some entity, and I had to start with 0 SP, I then buy 300 something STEEMs and powered up. I just don't think that it is okay to fish in the Steem-Pond without living something behind. And after about 6 months, now I have 4600+ Own SP and aiming for my first 5000 SP which I has set as my first "checkpoint" in this comeback. If you want to grow, I suggest you do the same, set your first checkpoint and work to achieve it.
What I still don't understand is where the part of the SP goes we have. If you look in your wallet is says that the SP is currently reduced due to...
@wakeupkitty.pal, I don't really understand this part, please elaborate.
The screenshot of the SP segment of your wallet:
A part is currently delegated - "currently" is from the day I started. So forever? If I delegate to whom? And why should I if sc01 borrows the 10 SP?
I thought we did to help newbies.
🍀♥️
I've been powering up 100% since day 1. I've also been thinking about buying steem soon if not later but I'm not really sure how, I mean I heard one has to have an account in binance or whatever broker that's available...I think I need some more research regarding that.
I appreciate your advice and I'll probably consider it.
I bought steem with bitvavo.com and it had a wallet on Steemit but they stopped July 2024.
Next I bought Steem with coinmerce they do not have a wallet.
I could transfer it to?
The only way I used before to get Steem in my wallet was by using blocktrades.us (no longer exists) and StealthEx does if you use another platform and swap.
Coinmerce doesn't accept StealthEx so I hope @grebmot shares his 30 minute steps to find the key.
If you use Binance it should be possible be I can't.
I really appreciate you for finding ways
Good questions deserve an answer. Let's see how far we get.
🍀♥️
thank you @wakeupkitty 🤍
You are welcome, keep engaging. It will benefit you.
A lovely day.
of course, you're the one who taught me that ;-))
https://x.com/wakeup_kitty/status/1861158134183797029
Upvoted! Thank you for supporting witness @jswit.