I was writing an introductory guide for SteemIt that I will place on another web site.
In this guide, I intend to suggest that new users who want to make the most of SteemIt are wise to buy about $320 worth of STEEM POWER to by-pass the plankton stage.
The problem that people in the plankton face is that upvotes are worth less then a tenth of a penny. The upvote calculator says that 15000 SP gives an upvote worth $0.63 . Moving the decimal three spaces means an account with 15 SP has an upvote worth just $0.00063.
It takes 15 100% upvotes from new accounts to equal a penny! Upvotes from accounts in the plankton disappear as rounding errors.
SteemIt Users should try to have enough STEEM POWER so that their votes are worth $0.02 .
The price of STEEM is $0.71. The Upvote Calculator says that I need about 480 STEEM for my vote to be worth $0.02 . That costs about $341.00 US Dollars. This figure seems to be consistent. One needs about $160 in STEEM POWER for a 100% upvote to be worth a penny.
As I understand, SteemIt reduces the value of an upvote by 2% and regenerates at a rate of 20% . If you are voting 10 to 15 times a day, your account will distribute over twenty cents a day. If the price of STEEM held constant; then you will reward the people you interface with with about $75.00.
I do not think that Cyber-Currency is a good investment. Quite frankly I don't think of dollar bills as a good investment either, but I find the way that SteemIt gives out money as rewards as attractive. Anyway I wanted to make sure my math was correct.
So, I am thinking the best way for a person with positive finances to handle SteemIt is to buy $340 worth of STEEM POWER. The money is 100% at risk. This amount of STEEM POWER gives the account holder enough voting power so that their vote counts.
I don't have positive finances. Instead of buying STEEM, I am hoping to sell advertising for STEEM. What I am doing right now is multiplying the price of STEEM by 10,000. So if you define and ad and give me 1 STEEM that is worth $0.71 then I will give your ad 7100 impression. For 10 STEEM I will give give 71,000 impressions.