Hi guys!
So, I am writing this to hopefully get an opinion from the more savvy or experienced Steem investors and powerusers.
Why Steemit ?
I am interested in cryptocurrencies in general, and Steem in particular, because Steem has:
- An active social network
- A relatively large number of users which other altcoins don’t have
- Incentives for writing quality content
- Incentives for distributing / popularizing quality content
- Incentives for investing in Steem / Crypto for the long-term and not mindless trading on day to day price fluctuations
- Given all the above, it seems to be greatly underpriced
Current Approach
I am new to the site, but I am considering investing a certain amount every month, or at least every other month. Everything I have invested so far is in Steem Power. I also selected 100% power up when writing posts, so I currently have 0 Steem, and only Steem Power and SBD.
Information on Powering Up and Powering Down
As far as I understand this, if I do not choose to power down at all, those funds will be blocked until I start the power down process, at which point I get 1/104th of the SP amount converted to Steem every week.
I have read a few articles on the benefits of powering up, including this one , and plan to use this as the main strategy. However, I would also like to get a bit of liquidity in STEEM. So, to that end, I have found this article where the author suggests that restarting a power down process every week is a good way to get some STEEM, while still maintaining many of the benefits of STEEM POWER – growth will be slightly impacted, but not that much as you restart the power down process. More information about the power down process is also available here.
Advice?
Provided that I also plan to add STEEM POWER every month or every other month from personal funds, do you think this is a good strategy (that way the total amount of SP will grow anyway)? Any input will be greatly appreciated. Thanks!