| json_metadata | "{"app":"Musing","appTags":["Steempower"],"appCategory":"Steempower","appTitle":"When do you think is the best time to buy steempower?","appBody":"<p>Not to sound like a tired infomercial, but the best time to buy STEEM Power is now. </p>\n<p>First, unlike STEEM and SBD, the value of STEEM Power is always increasing, such that it is continuously getting expensive to buy year-on-year. You may not notice this right away since most people tend to associate the cost of buying STEEM Power with the price of STEEM. However, while, that may provide a rough estimate, this is actually a poor way of gauging the value of STEEM Power. Why? It is important to understand that STEEM Power is not a real currency. It is actually just a \"human readable metric\" for STEEM Vests, or the amount of STEEM that we have locked-up or \"vested\" into the Steem blockchain. Basically, they're the same thing, but when it comes to measuring value, STEEM Vests is the more accurate measure. </p>\n<p>With that in mind, when it comes to measuring the value of STEEM Vests, it has been shown to be always increasing, i.e. it is constantly getting more expensive. This happens because of the inflation built-into the STEEM blockchain, which reduces the amount of STEEM Vests you receive per STEEM every year. For example, two years ago 1 million STEEM Vests would have only cost you 192 STEEM, however today the same 1 million STEEM Vests now costs 495 STEEM. In this respect, if you forego powering up today in favor of a later time, you run the risk of paying more. Thus, regardless of the price of STEEM, you will actually be better off buying STEEM Power today, rather than at a later time. </p>\n<p>Second, unlike STEEM and SBD that just sits on your wallet, and whose value is dependent on speculation, the amount of STEEM Power that you have can be put into use to earn beyond speculation. For example, you could use it to increase your vote value, which can then be used to reward others or even yourself (though personally, I'm not a fan of self-upvotes). In addition, you could also delegate your STEEM Power to initiatives and projects that you support, some of which can even pay you back through a share of curation rewards as dividends or with a fixed delegation fee. And most importantly, you could use it to increase the amount of Resource Credits you own. No one want a repeat of those dreaded days when we didn't have enough Resource Credits to transact in the blockchain. Thus, the sooner you increase your STEEM Power, the sooner you can take advantage of its benefits. </p>\n<p>Finally, holding STEEM Power actually creates more STEEM Power. This may not be obvious right away, especially if your STEEM Power is still low, but if you observe closely, holding STEEM Power generates more STEEM Power even without doing anything. This is actually a consequence of the value of your STEEM Vests increasing. So, the sooner you power up, the faster your STEEM Power will grow. </p>\n<p>This means that as far as powering-up is concerned, the best time is always now. Sooner is better because the longer you put it off, the more expensive it will be to power-up. You will also miss on the opportunity to put your STEEM Power to work.</p>\n<p>Sources:</p>\n<ol>\n <li>STEEM Power. https://www.steem.center/index.php?title=STEEM_Power_(SP)</li>\n <li>SteemDB. https://steemdb.com/</li>\n <li>If you hold Steem Power, you're earning STEEM automatically. https://steempeak.com/steem/@lukestokes/if-you-hold-steem-power-you-re-earning-steem-automatically</li>\n</ol>","appDepth":2,"appParentPermlink":"f3nuszt85","appParentAuthor":"boliboli","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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