Today 1000 STEEM is worth approximately $3800 USD according to @blocktrades. Here is what I would do with it if it appeared in my wallet unexpectedly:
Cash out 300 over the next few weeks.
Use this windfall for some of what is on my long list of things I need money to do – in other words, throw it into my small pot of current funds and use it.
A big focus of my spending would be completing books and courses I have written and not published. These balls have been dropped because of my use of so much time on steemit, so I would feel happy to have steemit money help finish that work now.
With the rest of this miracle STEEM drop I would
Lease Delegated SP
I constantly have an order in @minnowbooster for either myself or my son @bxlphabet and lease as much SP as I can get for us. In this strange steemit world, our votes matter – even at about 30+ cents like they are today. Since most big guys do not vote for little guys, we make a good impression and give hope when we give out our “larger” upvote.
I feel like the leverage of leasing is better for me than purchasing the SP directly. I power down the SP I get now, and intend to keep doing that each time it gets to a high value. I’m not a believer in investing in something I do not understand. After 10 months here I still have no idea where the value comes for the rewards at steemit.
I also worry about the fact that 95% of the steemit value is in less than 100 people’s hands – a good portion of whom are anonymous, unpredictable, and crabby.
For those two reasons and a few others, I do not plan to hold money in steemit beyond what I need here to succeed.
Buy more shares of SBI
I’m on fire for the @steembasicincome idea. Every time I buy a share of the SBI program, I can encourage another blogger by that action. If I had more STEEM, I could and would buy more shares.
One of my big concerns about steemit is the high kill rate for minnows, so I do what I can to help. I think this SBI program is a winner for helping the little guy, and we need millions of them - not the 1000's we have now.
That’s it for my spend-a-thon!
I would continue in this manner as I could. I would not be in any big rush to “spend” all the STEEM quickly. It could sit in that area of my wallet as I got more delegations and bought more SBI shares over time.
You can enter this challenge too!
Go to the opening post for the @dragosroua #challenge30days challenge to find out how.
More of my posts for this cool series
How did you get on Steemit?
1000 STEEM! What would you do with it?
What’s the best thing that happened to you because of Steemit?
witness day - did not complete
What are the top 5 crypto assets you’re investing in now?
What Is Your Main Reason For Staying On Steemit?
Three things to make Steemit.com a better experience
What’s your most consistent hobby?