Many of you have already heard you can delegate and undelegate Steem Power via the Minnowbooster website.
However, some of you may not understand how to undelegate Steem Power, which is a problem if you need to undelegate your Steem Power and use it for other purposes.
This article will give step by step instructions on a couple of ways to delegate and undelegate Steem Power.
Describing Steem is difficult. While there are a few reasons why, the main one is that it is incredibly different from anything previously created. While one could explain Bitcoin to somebody in 199, and be reasonably successful (Star Wars had a credit system that was presumably outside of Imperial control), explaining Steem is more like trying to describe Facebook to somebody in 1994. Heck, we were still trying to figure out what the internet was in 1994. Continue reading “5 Practical Ways to Describe Steem to Friends”
Let’s face it: gaining followers on social media platforms is part of the fun. Whether you are growing a brand, or keeping it casual, more followers will give you a better Steem experience. Having more followers gives you the opportunity to meet new people and have a greater impact on others.
There are a lot of articles on growing followers on Steem, but one of my goals with this website is to collect a lot of these tips into one source, saving people time and energy in learning how to best use this awesome platform.
Bloggers-are you looking to add another source of revenue to your blog? Are you interested in earning some extra income that can give you exposure to Bitcoin and other cryptocurrencies?
SteemPress Turns Your WordPress Blog into a Cryptocurrency Generator
I’m eager to talk to you about how I turned my side hobby in cryptocurrency into a viable side gig using SteemPress, but first, a quick story:
A Twitter advertisement for Brandon Gaille’s blog report recently came across my feed, the lede compelled me enough to click it. Rarely does an ad work so effectively, as it led me to reading my first Gaille article (a great report on how bloggers in various monthly income categories make their money) and subscribing/downloading a handful of his podcasts.
This article discusses how to generate passive income on Steem, a service I have used for over 8 months. I’m not a professional investment adviser, so this is not “investment advice”. Do your own research before making decisions on whether or not to do this. Buying Steem involves many risks, including loss of the USD value of Steem and complete blockchain destruction.
There are few times in life when you get the opportunity to get something for free.
This is one of those times.
Steem is a blockchain that allows instantaneous transfers between users-think Bitcoin, but with Twitter like “@” handles-and also acts as a blogging platform.
Yes, I know. You already have a blogging platform.
But is your blog earning you any money?
I had a Google blog 10 years ago, which showcased some restaurants in Yokosuka, Japan that I liked. It got a little bit of traffic, and my Google Ads earned me around $14.
Unfortunately, Google doesn’t pay out until you make $20. It costs time and money to transfer cash, so I’m not mad.
But you can do far better than that with the SteemPress app, which is available in the WordPress store (you have to have your own domain, not a wordpress.org “free” blog). When you get a Steem account, you’ll connect your posting key (a bit like a long, random password) to your blog, which will allow your WordPress articles to be automatically uploaded to the Steem blockchain. There are a few advantages to this:
Your work is locked into the Steem blockchain forever, at no additional cost to you.
If Steemians (those who use the Steem blockchain) like your articles, upvotes will turn into money. This is a little like Reddit karma, if you could use Reddit karma to turn into Bitcoin or buy stuff with.
You tap into a new audience for your work.
I have used SteemPress for about 5 or 6 months, and I love it. I don’t get anything if you sign up for SteemPress-there is currently no referral program (nudge to @howo and @fredrikaa)-except the ability to share a great new (free!) product with others.
You can set up an account with Steem here. Participation on the steemit.com platform will vastly increase your probability of success, as relationships with other Steemians is crucial to finding an audience and building a community. There is a lot going on in the Steem blockchain; too much to explain in one blog post.
I’m happy to help you if you have questions; just leave them in the comment box below. Let me know if you do sign up, as I’ll send some upvotes your way early on and help you on your early journey as a Steemian.
–Jeff
Interested in optimizing your Steem experience? Do you want to learn more about the Steem blockchain and how Steemit works? Click my logo below for a deep dive on Steem:
Speedrun (v): To play through a video game as quickly as possible, taking advantage of any shortcuts and manipulating game mechanics in unusual or unexpected ways. Speedrunning is all about utter simplicity and finding ways to hack the game mechanics. By hacking, I don’t mean actually changing the code of the game using something like a Game Genie. But the great speedrunners are able to shave fractions of a second off of their time by understanding how sprites activate and finding ways to meddle with the built in random number generators. I watched a speedrun of Zelda II: The Adventure of Link recently, and it occurred to me that I had played it all wrong as a kid. I had built a set of rules in my mind that I thought I needed to play under, making the game more difficult than necessary. Watching player run from most enemy encounters in Zelda II, rather than fighting through them, made me think: why did I engage so many of these enemies?
This image was burned into my retinas as a kid. We do this with life, too. I think it comes from early play as children, learning to make and enforce rules in games, usually because the object is to make the game “fair”. I think we do that because of an innate desire for justice combined with wanting to play games as long as possible. Lopsided competitions aren’t very fun, so we eliminate tactics that seem “cheap” as kids. And we continue doing that in life. I often fight enemies I don’t need to. One example: taxes. Living in California means I have both a high cost of living as well as high taxes. I can, however, reduce my taxable income by maxing out my 401(k), which is maybe not as exciting as picking stocks, but results in the government taking less of my money every paycheck. Putting as much money as possible into my 401(k) is one hack that results in an instant boost to net worth (at the cost of less free cash). Contribution matching is also an easy hack.
But it took me longer to actually do this than it should have. I was making my life harder than necessary.
Other Hacks: In the crypto world, once I realized Steem Power could be delegated, I saw it as a sort of cheat code that I could use to steadily increase my returns. While the price of Steem has fallen with the overall cryptocurrency market, I’ve been able to increase my holdings of Steem. I’ve also sold some Steem and put it towards other projects I’m interested in, making Steem a capital generator. This is how I expect many on Steem to act, and it is the return on Steem powered up that will draw in more speculators. When looking at life as if I’m hacking/speedrunning a game, I realize that I often say “no” for silly reasons. And yet, those reasons are often based on arbitrary rules I made up that have no basis in virtue: it seems like a “cheap” way to win, and therefore it must be wrong somehow.
But that’s not necessarily the case. While it is important to have an alarm bell in your head when you hear “easy money”, you should also discern when that money is actually easy to make, and when it may result in ill gotten gains. Cryptocurrency and blockchain technology are creating new ways to make money online, and some of those ways aren’t terribly difficult…especially if you already have an online presence (YouTube, WordPress, etc). Steem is the cheat code I’ve been most successful with; Brave Publishing is another one.
Click this lion to become a Brave Publisher for free. Also, I’ll get a handful of Basic Attention Tokens if you use this referral link. It costs you nothing to sign up now.
If you’re interested in finding out more about how you can stack Steem and Brave rewards to earn cryptocurrency as you publish content, let me know. I’ll be putting together a resource page soon with links to all the information you’ll need, and I’ll also be putting together some paid packages that will include full service account setup and consulting-a great deal for influencers who already have thousands of followers/subscribers and have more money than time. In the meantime, leave a comment below or reach out to me on Twitter for more information.
Overly exuberant investors and speculators desperately want you to use their platforms right now. It’s time to use this cheat code to speed run your way to some easy money.
–Jeff
Interested in optimizing your Steem experience? Do you want to learn more about the Steem blockchain and how Steemit works? Click my logo below for a deep dive on Steem:
Steem Backed Dollars are supposed to be a stable coin, but that hasn’t been the case for the past 7 months, when SBDs dramatically rose to $13. There has been no stability in SBDs since, and the price has slowly deflated all this time. My general strategy has been to convert my SBDs to Steem daily and power it up.
Now, that strategy is about to change.
I expect SBDs to drop below $1, but barely. Meanwhile, I expect the price of Steem dropping further and getting close to parity with SBDs again, resulting in a 1:1 ratio at some point. We’ll see whether or not that happens, but in the meantime, holding SBDs will be a little more stable than most of the tokens in this market (I don’t expect SBDs to get lower than 90 cents or so), and allow me to build up a small hoard that can be used if other tokens continue to fall in price.
Here’s why this is good: this bear market, with depreciating tokens, is demoralizing. While I’ve been content with plugging on and writing a handful of articles each week, I’ve noticed a lot of decreased activity in both my feed and my comments section. It’s less exciting to take time to do stuff on Steem when the payout is low, and lowering daily.
With SBDs getting back to $1, rewards can be built up. And if the price of Steem continues to plunge (which is much more indicative of the overall bearishness of cryptocurrency than Steem itself), we may even be able to acquire Steem for less than one SBD. I’m now saving my SBDs in anticipation of this.
There is some risk here: stable coins are not always as stable as they advertise. SBDs could drop below 90 cents, even down to 50 cents or lower, and never recover. I don’t expect this to happen, as the Witnesses can change rewards payouts to lower supply of SBDs, or offer dividends to make them act like bonds, creating upward pressure on the price as people seek even small (3-5%) rewards for holding.
What’s great about Steem is that anyone with an internet connection can start writing/producing content and not put any of their own money at risk.
–Jeff
Interested in optimizing your Steem experience? Do you want to learn more about the Steem blockchain and how Steemit works? Click my logo below for a deep dive on Steem:
