When you will begin to power down your STEEMIT earnings?
This is an important question that we must ponder, at least for those of us with the same intent – to earn as much SP as humanly possible.
I often times ask myself this question, but never really have come to a definitive answer. This really depends on a lot of factors that are out of our control (for the most part), such as the price of steem, as well as the emergence of other competitive social media platforms that may make their way to the forefront in the future. Realistically speaking, this likely will not happen (or at least I hope) because steemit, as a proof of concept, has a real edge over any monetized social media platforms that may be developed in the future.
I’m mainly talking about some of 's recent initiatives that are beginning to cause a scare in and around the steemit community as of late. The release of EOS is really beginning to raise some controversy here because of its ability to act as an essential operating system. Many fear that our very own, once steemit father, will slowly deteriorate what he has created here. Others, on the contrary, believe that this could, in fact, help revolutionize the steem blockchain and the rise of SMT’s we are beginning to see appear here on the surface level.
One thing I can honestly say, however, is that regardless of these particular factors I do not plan on powering down anytime soon, that’s for sure. I just began my journey here in late November/early December of 2017 & and I want to keep working at this and see my account grow by the day. I have made it my mission to try to produce high quality content worth everyone's time here on steemit and to also engage with the community as much as possible. Even if I am unable to steem for a day, I am sure to make up for this the next day that I am able to do so.
Powering up your hard earned steem, whether it be from author or curation rewards paid in SBD or STEEM itself, we are placing a trusted stake in the ground regarding the steem blockchain. By powering up, we are confident that the steem blockchain will continue to move forward in the growing age of cryptocurrency, the use of blockchain technology and decentralization.
For some, steemit may be a main stream of income, so powering down makes sense from time to time for these kinds of steemians. For those of us using steemit as a passive stream of income, however, and don't plan to 'see' our earnings for a longer period of time, powering down should really be as strategic as possible.
You want to be a STEEM MILLIONAIRE you say??
The price of steem should really dictate whether you make the decision to power down or not (since 1 STEEM should equate to 1 SP), unless for some reason you absolutely need to power down given the circumstances. By the end of 2018, steem could very well be pushing $20 and a few years later, maybe the price soars to $100?? We really don't know what exactly is going to happen to the price of steem, but one thing is for certain – the price is definitely set to ascend (obviously there will be healthy corrections along the way, just like we have seen with the recent market volatility).
Imagine powering down five years from now and the price of steem is $100. Along your steem(it) journey you have been fortunate enough to accumulate, say 10,000 SP – this would equate to approximately $1 million... talk about a payday for being patient and waiting for the right time to finally power down your hard-earned SP.