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RE: Do you Want Long Term Success? Steem Power is the Key Plus Ethereum Lyte (elyte.io )
I want to power up but I don't think I will have enough to make an impact but is it true that you can only take out your stem power in 2 years time? Great post again Charles!
Once you start a power down it will take 13 weeks to fully convert your steem power to steem. Every week 1/13th of the amount you want to power down will be converted to Steem.
This is to make sure that people don't cash out SP instantaneously and hence have long term interest of the platform on their mind.
This is also a security measure as you can initiate an account recovery in case you realise your account is hacked. The hacker cannot get away with all the SP as it will take time to be converted into Steem which can be transferred to exchanges.
Very good explanations...thanks
Lol not 2 years time rather in few weeks gradually. Its also safe against hacking because it takes time to power down and at that time, your account will be recovered unlike steem and sbd which can be stolen very fast. Powering up is a guarantee investment for your future my dearest one...keep steeming .