Too Redeem, Or Not to Redeem? That is 'Steem' Question!!!steemCreated with Sketch.

in #steempower • 7 years ago (edited)

As I've stated before, I am still very new to this platform & my SOLE GOAL is to accumulate STEEM POWER. (Please folks, bare with me. I promise I'm going to get it together).

Recently, I received my second SP reward and it was around the same amount as the first. My first instincts was to instantly redeem it, as I did the first time; This time however, I abstained from doing so, because I am curious to know whether or not it is best to allow it to accumulate for a couple of days before doing so?

If any of you WHALES out there happen to come across this post, would you please share some of your knowledge to a lowly minnow such as myself. For everyone else in a similar position, I simply ask that you RESTEEM this post to help extend its' reach, so we can swim with the big dogs too.

#whales #resteem #minnow #questions
7 years ago in #steempower by
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     7 years ago 

    No whale here, but I'm curious too so UPVOTE! 😎

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     7 years ago 

    Thanks bro. tap that resteem button and lets see if we can get an answer.

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       7 years ago 

      i don't know but i will resteem to help find a answer

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       7 years ago 

      Best advice dug up so far:

      ~ Redeem instantly (I guess the original version of steem was configured for rewards to go directly into one's wallet; the new system is set up to combat bots, hackers, and other malicious activities within the blockchain). We gain no interest or influence/value on Rewards left unredeemed (in essence, it is capital left in limbo).
      ~Let the chips fall where they may. Rewards are given in each categorical stage of our wallets, so just let the STEEM and STEEM POWER and STEEM DOLLAR (SBD) build up organicaly in our balances.
      ~The sound financial move is to transfer any SBD to BitCoin any time it's balance is greater than $X dollars (my chosen X will be $20 to begin with, and then fluctuate up or down from their depending on how much negative affect the action may have on my own voting power, etc.). Of course, then one has the option to transfer their BitCoin to their bank account or paypal in fiat currency or play the markets and sit on their balance for awhile.

      Anyone have any opinions or advice to add to this comment and it's parent post is greatly appreciated.
      That's my 0.0001 BTC's worth (wonder what that is worth in ௹? 😉).

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       7 years ago 

      ~ you know what... That makes a lot of since why that was implemented in the first place. I have noticed there are more and more bots showing up, and i see how that could be detrimental in the most beginning stages of the platform.
      ~ If Limbo is the case, then i need to make sure i grab it as it comes. No use on letting it sit.
      ~ I haven't made any real money on the platform yet, but I'm sure it will come. When it does, I will just convert to steem power to strengthen my voting power and help others earn. Thats really my goal here is to just help others and notify folks of the earning capabilities of bitbean.

      Thank you for taking the time to respond so thoroughly. Hopefully that lowly 0.0001 worth of information will convert over to some big bucks :)

      Again thanks for sharing and Lets get to the money

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       7 years ago 

      I'm also curious about this! resteemed+upvoted+followed

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       7 years ago 

      Im following you back. Keep an eye out on the page. we are going to be giving out loads of bit beans

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         7 years ago 

        I don't think that there is an adverse effect redeeming or not redeeming however the quicker you redeem the quicker you can build up your Steem Power.

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         7 years ago (edited)

        Yea, that seems to be the consensus here. I'm not sure where i got the impression that letting it rack up would be most beneficial. Theres so much information out there related to it, but some of it is inaccurate as I'm sure you know. This was the main reason why I made the post to figure out if some of the more successful folks had a definite answer.
        Thanks for taking the time to respond. Have a good one fam. Im going to go head and follow you to bro. #stayup

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           7 years ago 

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           7 years ago 

          Congratulations @official-bitbean! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

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