Why I'm Powering Up STEEM Though it's Not Very Convincing to me?

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(Edited)

Hi friends!

A couple of days back, I had expressed my quandary in this post as To Power-up or to Power-down is the Question.

Although I'm still not very convinced of the benefits of powering up STEEM and still looking for one strong reason in favour of it, today I'm doubling up my Steem Power. Why?

Since today is the SPUD (Steem Power Up Day) and I had raised this question surrounding this day, I thought I should at least power up something today irrespective of my confusion around it. So yeah, I'm matching my current SP of 4,028.118 with the same amount of liquid STEEM. So my SP will rise from 4,028.118 to ‭8,056.236‬ after powering up Thus my Steem account will get re-classified from a Minnow to a Dolphin now (...according to the tradition of categorizing wallet size on Steem).

Am I excited to become a dolphin?

Not really!

From the time I joined Steem over 2 years back, I was a Minnow. I was happy and had got accustomed to be classified as a Minnow. Now it will take some time to me for getting accustomed to the Dolphin tag 😊. Changing a status quo does make many of us uncomfortable. Doesn't it?

To this day, I've never boasted of any landmark achievements on Steem or made any announcement post on reaching some specific SP level or gaining any milestone in follower size or my post counts etc. Never did I participate in events like SPUD. I wonder why do we need a day for powering up! But yeah, if there is a contest themed around it, it does make sense. However my account doesn't qualify for participation in these contests. Yet I'm choosing this day to power up!

To be honest, I didn't invest a single penny in fiat to power up my account. All STEEM in my account is earned through this platform only. So I can't boast that I bought this much STEEM at today's ultra-low market prices. No I didn't buy it!

Yet, the decision to power up didn't come easy to me.

Why I'm powering up?

Frankly, I've no solid reasons to do so. My last post is still open for suggestions and I'm still looking for a great reason to power up STEEM. If you have one, do share it with me.

So far, I've received suggestion to invest in Tribe tokens instead. I also received one suggestion to lease out my SP to get a passive return. But I'm still looking for a better return than that.

However I'm powering up some amount today as a gesture in solidarity with the SPUD and also the responses received on my post.

The other reasons that made me put invested in STEEM do obviously include my looong association with the Steem ecosystem. You know, I already said that it's difficult for me to change the status quo once I get used to something. It takes a lot of effort to change and move to some new ecosystem.

One more thing in favour of Steem is that it has already earned a good recognition in the crypto sphere. And even if I contribute my writings to another blockchain or a blogging platform, I can continue to simultaneously publish the same content here too. And by powering up here or by continuing to publish here, I also get rewards in other blockchain tokens like ROX or SNAX too.

But familiarity with the Steem ecosystem is the biggest thing that keeps me active here. I'm too lazy to learn the new ropes. So I plan to continue to curate here with occasionally authoring posts here and there while I keep looking for suggestions to put my STEEM to better use.

Well, whatever! But the point to be noted is that with such weak and not very encouraging tone, I'm still here and powering up some STEEM. I hope from here on @streetstyle will try to motivate me further.

Thank you all!

P.S.:

Since Steem sidechain sync is pending and replay is in progress, I'm stil waiting for my STEEMP to STEEM conversion through @steemfinex. As soon as I receive the required quantity of STEEM to match it with my current SP, I'll power it up.

UPDATE

It looks like SteemFinex has a long queue (of over 13K STEEMP) and my least priority transfer is being delayed. So I've arranged some temporary funds to keep up this power up commitment.

Here I'm powering up matching my current SP:

Powered Up xyzashu.png

Well, no! The moment I spent in taking this screenshot increased my SP to 4029.700. So I actually powered up 4029.700 STEEM. Now my account with over 8000 SP looks like this:

Power Up - after shot.png

8059.400 ...not bad! Let's see how long does it take to reach the 5 figure level.

I'm not planning to power it down and considering it it as being dumped and locked here in this wallet for a long long time, I dunno! However, I don't think I'm gonna invest anything more to it until I see any benefit in powering up.

What you guys think of it?



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I think that everyone of us are Powering Up because of the HOPE that we still have in STEEM and everything that surrounds it. We were on high rolling about 2 years ago, same time I have joined and even up until today I have never power up for a second. We can only keep the faith and HODL for the good days to come.

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(Edited)

I can relate to your sentiments. 2 years ago I was hardly invested in any other crypto. But today I see similar high hopes in many crypto assets. So the question to me is why just STEEM? I also see a better recurring RoI in various other options than what I get through curating here. And I also see many more investors thinking on these line. So if there is no strong reason to invest in STEEM, I don't see it going anywhere.

But your reason and hope for STEEM mooning is not completely unfounded. And this is the very reason, I've powered up some STEEM and locked it here for eternity (so to say).

Thank you for your feedback and views.

!UFM

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Hi, @xyzashu!

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This is actually quite impressive to see that you have been powering up without a single fiat.

When I first got into steem in an active way I was more mesmerised by its potential for community building instead of just a financial thing.

Hence I too did a lot of fiat investment not really just for steem but the community building itself on top of the steem blockchain.

I guess from your previous post your reason to power up or how you can be convinced to stay on and keep powering up is how you value the people you are communicating in the steem blockchain.

I guess when you truly see the faces behind the screen name and be associated / related to a real person who's in the steem blockchain in real life, the whole purpose of powering up / down becomes very different.

My 2 cents.

Posted using Partiko Android

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Hey @littlenewthings, thanks a lot for your appreciation!

And thanks is also due to you for reading both of my posts on this subject.
I love the way you put the rationale behind powering up. I can understand and agree with you when you say people and community are more valuable to you. It's the way it should be to everyone.

However my question wasn't just centered on arguments in favour of my powering up but it was truly from the perspective of investors. I mean, investors who are not going to contribute any content here but looking for passive return on their investment. If there is no compelling reason for investors to invest here, how would STEEM grow in value ...in monetary terms?

You may have also noticed that I did power up though I wasn't satisfied with any of the answers ...I'm the only sad dolphin here perhaps 😉.

I probably also mentioned that I am not a community kinda person. Actually, I'm okay with almost all kinds of persons. So it doesn't explain why should I be here on Steem when there are plenty of social networks out there. I can find and relate to people anywhere in this world. Why just Steem?

What more, I rarely make very strong and close bonds with people or any community in general. I mean, I don't regularly keep interacting with the same people in short intervals. E.g. today I'm seeing you in more than a year but it's okay to me. (I guess, I had frequently seen you in Discord servers earlier. But for a long time, I ain't very active in any Discord server and probably either I have left some of those servers or those servers became inactive themselves. I may even feel a little nostalgic about it but don't return there for the sake of it).

Furthermore, to me Steem offered a unique opportunity to get acquainted with the application of the new decentralized blockchain technology and financial reward was an added bonus. But with passage of time, several avenues cropped up in this space and rewards did become an important decisive factor. I mean, I can continue to be active on this platform while I move my STEEM to better investment opportunities. Would it make any difference in my author rewards here? If not, shouldn't I put my STEEM to better use?

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Hey @xyzashu thanks for the reply too 😊
I guess at the end of the day what you see the potential of steem.

Yes, as an investor that looks either on community perspective and potential or the coin value itself, no one can stop another person's opinion, because at the end of the day, that's I suppose, show the true meaning of "the power of the people" (not some institution etc if you know what I mean)

Well, if you do happen to decide to trade off some for a better ROI for your own needs, I do hope that there's an outlet for you to trade off the coin for those who sees the value of it and then, both you and the buyer are happy with the result. 😁

Posted using Partiko Android

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Exactly! Both parties are happy in a trade and that's why trades are successfully executed. What I'm trying to understand here is the perspective of the buyer as an investor. Why an educated and aware investor would like to buy in ...what benefit he / she sees that I fail to see. Ultimately, understanding the value from the perspective of investor will make me (and others) confident of investing (or put invested) in STEEM too. Because if there is a good opportunity to invest in STEEM, prices are going to moon soon but in the absence of it, prices will keep falling ...until it becomes a good investment opportunity. This will eventually lead to an equilibrium (true price discovery). But the problem is I don't know why an investor would invest. (Of course, there are investors who invest as they are not aware of better opportunities but I ain't considering those). The only reason I know that people give is high potential of appreciation in STEEM. But with time and competition, I feel Steem is losing on several unique competitive advantages it had and it innovated. But yeah, you can say Bitcoin still rules the crypto market share! 😊

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