#steemsaturday | Steem Power Investment
I've been full of cold this week, mostly too ill to work and very bored ... Steem was at 28 cents and Steem Power Investments came on my horizon:
Steem powered investments @spinvest has been set up to offer an investment fund for the community of Steemit. Investments are funded through extracting value out of Steem Power and taking advantage of Steem's high inflation rate. The aim is not to get rich quick; the aim is to build a safe portfolio of investments that will stand the test of time while insuring all investors starting capital is not at risk. (Introduction post)
Things I Like About This Idea
A Simple Principle
Steem Power Investments (@spinvest) has been set up to issue 1 million SPI tokens (shares) at the cost of 1 Steem (or 1.02 Steem through steem-engine.com) each. As tokens are sold all Steem received is powered up and used to fill lease requests for delegations at a rate of up to 20% per year. Steem payments received from leasing Steem Power are used to buy a range of other safe investments off-chain. The original stake (or capital) stays locked up in the @spinvest account
A Development Plan
There's a staged Development Plan, with incentives/rewards at each of the stages (plus the revaluation of each SPI token):
Read more: SPI token distribution and rewards)
The fund also set an initial target to make a first off-chain investment when earnings on the account reached 50 Steem, with an aim of achieving this by 15 July 2019. The first investment is planned for this weekend.
An Outline Investment Plan
The latest post sets out some ideas for investments
- Cryptos - Bitcoin and Litecoin
- Precious metals - using an account set up at the Royal Mint to hold them.
- Stocks - using an A J Bell investments account.
- Passive income - including PAL and LEO
Other Considerations
Governance
There's already been discussion of governance, with thoughts that an Investment Club might be the way to go. These seem to be well-established in the UK and there's a reference manual for running them. I like, as well, the focus on community participation. Some of the ideas are:
- monthly/quarterly club meetings on Discord.
- off-platform investments decided by vote.
- voting rights.
- weekly/monthly updates on all investments (I'd like to see an update on investors and their investments as well).
Who's Behind Steem Power Investments
The person behind this is @silverstackeruk - here's a disarmingly nice post where he writes about all the nice things he has to say about himself:
- he's been on Steem for about two years.
- he's into precious metals (the clue's in the name), share trackers, p2p lending, premium bonds, creating passive incomes and cryptos.
- he became involved with #steemsilvergold and after a few months was running the membership list, started the community discord server, was hosting community votes, and arranged community crypto and masternode (nb - I don't know what this is).
- he was soon voted in to be a mod which involved helping to run the community upvoting bot (150k SP), being part of the team that brings the Steem silver round to Steemit members every year and helping to arrange and promote 4 community monster raffles that have brought in more than 6,000 SBD's in ticket sales.
Major Risks
Contingency Plans
A nice little discussion about this in the comments under this post:
from @jk6276
Love what you are doing here, but I would be interested to hear about contingency plans. Don't want to jinx anything, but is there a backup plan incase something happens to you? This investment requires trust in you and knowing the plan B will give more peace of mind
from @spinvest:
As far as a Plan B should something happen to me, there is none. I am in the process of writing up a terms and conditions agreement that will include everything . It's a work in process and i would guess it'll take me a few weeks to get it right. I dont wonna post it and then have to go back and make changes. I have people i can trust that are on steemit.
For the #steemsilvergold community i have done lots of group crypto buys and we run a smartnode as well. I hold all the crypto's for this and the Plan B here is if i die, the USB i use store all the private keys, phrases, bot accounts, will be sent to another steemsilvergold member that has already been picked and veirfed with other members. I would think that if something happen to me, A usb drive containing all Private keys, investment log ins, ect ect will be sent to another trusted memebr to either cash up are carry on.
ps, i have a small black book i update every year with all my details for everything from my email log in details to my life insurance policy details. The wife and kids are aware of my death book and they are aware they might need to send some things out.
Burnout
Lots of energy and drive here ... but just wondering how this will sustained over the long-term.
Drama!
I know we love it, and I'm sure the #steemsilvergold community have worked out how to handle it, but I'm just wondering about an investment club with possibly thousands of members ...
The Sums
I tried doing some of the sums but my cold got the better of me. I really need @revisesociology to come along with his spreadsheets and a few scenarios and a Sunday where he fancies tossing about on Steem.
Thoughts So Far
I think it's a brilliant idea and I've invested in 101 SPI tokens. I'm a slow and steady investor, investing a set amount of fiat each week in Steem; with Steem at 28 cents, I doubled my weekly subscription for the SPI tokens.
When I reached 10,000 Steem Power I wanted to start diversifying - the great opportunity @spinvest offers is the chance to learn and diversify with a set of other interested small-scale investors at low risk ... well, assuming the above risks are addressed!
Does it help the selling pressure on Steem? I think it does, because the original investments are locked up in Steem Power, and the benefits of external investments will help bring more money into Steem by increasing the value of the SPI tokens.
But aside from all that, it's fun and exciting and interesting and I'm learning.
All for the price of a meal out.
Sounds interesting @shanibeer. I will be interested to hear what @revisesociology has to say about it and maybe @goblinknackers too if he's around.
Sorry to hear you've had a rough week but glad to hear you're on the mend. 😍
Yeah, it would be good to hear @goblinknackers and @slobberchops take :)
Thanks for writing up this informative post man and sharing your thoughts.
Others have been giving me great ideas to make the whole project more decentralized and things are starting to kick off. Thanks very much for your efforts and im sure we'll chat sometime soon in the future
It's an interesting idea and I like your energy. The discussions in the comments are good, too.
I'd like to get more women into investing, this may be a good entry point for them. Perhaps @connecteconomy and @livinguktaiwan might be interested, and also @redrica and @ultravioletmag, who host the London meetup.
Looking forward to the first investment.
All genders are welcome, STEEM is STEEM and women are normally more dependable than men. And if they are all from the UK, even better cause im from N.Ireland and same time zone is important when it comes to discord meetings and stuff.
Hope you're feeling better now. Must be a bit of a bummer being ill at this time of the year and not being able to enjoy the good weather ( I hear its been really nice)
It does sound like a long term investment here. Just wondering what are the target (not guaranteed of course) returns? Maybe one for @spinvest?
I heard of spinvest votes but didn't dig much into it thanks for the extra details, also the comment by jk6276 is indeed something we should consider even if it's not nice but something to think about on other such investments.
A lot to learn, I think :)
I bought 10 spinvest votes when I heard about it.
I didn’t want to invest in anything until I had at least 5000SP - but it seemed like a great opportunity, and part of the fun of the steem blockchain is being able to invest with small amounts of cash.
That's right!
Just in the pub - I'll read this later. Looks interesting!
Hope yr feeling better
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Right where you should be and wish I was with you!
I've tried several times to understand the returns, but my head is too be-fuddled to work it out. Be interested to get your take :)
Just work out what a 1K steem vest gives you in a year at the current price - if it's >20% it's worth it!
Depending on the risk of course.
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you need a !BEER in the pub.
Do some pics and a post for us
You got a 62.68% upvote from @ocdb courtesy of @shanibeer! :)
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