Why are most accounts on steem powering down?
It seems to me when i look in a few wallets of big steem accounts they are powering down steem power. If they really believe in the future why would they do that? Doesn't seem like a good sign to me.
Why are most accounts on steem powering down?
It seems to me when i look in a few wallets of big steem accounts they are powering down steem power. If they really believe in the future why would they do that? Doesn't seem like a good sign to me.
I can't say for sure whatever the reasons may be for those big players to power down some of their Steem. It could range from a tactical move, a business move, or they are just trying to liquidate their SP so they can transfer it to their alts.
It is understandable that if you only look at a few accounts (especially the big players), it might seem they are losing interest and hope for the future of Steem. However if you look at the Overall Power Up and Power Down difference for ALL Steem Accounts in the platform, it seems lately that a lot of people are powering up not powering down.
The image below was taken from penguinpablo's latest weekly report for Week 35 (Aug 28 -Sep 4) of year 2018 (DATE).
So No! It seems like a lot of people still have high hopes for STEEM especially after they announce Hard Fork 20 and the possible release of SMT next year.
I don't think that most of them are doing that, but there might be quite a few powering down. Regarding the reason on why would someone power down it's hard to tell.
Some of them might leave Steemit for good, for any particular reason, some of them might invest their Steem in other cryptocurrencies while some of them probably are keeping their Steem liquid for a possible future bull run in which they can sell those coins at a good price and take some profits on their investment.
It might also be the case of some people powering down to sell high if prices are going to go up in the next months to come just to buy more coins cheaper after the bubble of prices bursts. It's hard to find an exact reason for every power down you can see on different wallets.
There are could be many strategies in work for every user.
I do not agree that most accounts are powering
down,but i would agree if someone says that some whales are powering down their steempowers,but i
believe that some people are powering down because of the current bearish trend of the steem on the
cryptocurrency market and i think that if more people keep powering down then it is not good for the steem
economy and it could make the steem price to keep going down and that is why steem investors needs to
understand that steem has great future and they should reduce the powering down...
EveryoneEveryone has reasons for powering down. Most are looking to get a good value for their STEEM when the price rises while some may need for other issues.
Looking at @penguinpablo steem weekly stats https://steemit.com/steemit/@penguinpablo/weekly-steem-stats-report-monday-september-3-2018
The average difference in power down was a negative value of 218,472 STEEM. As I said before. There are reasons for powering down and you can start a conversation with the user on why starting a power down.
Just as we have power down we also have users powering up. This shows that people still believe on the platform.
An average of 1,508,612 STEEM was powered up in the past week. This shows that there is nothing to be alarmed off. The users have their needs, hence the for a powerdown.
The answer to that question is not straight forward but the way I see without been overly technical. There reasons depend on the individuals behinds those accounts but these are what I suspect.
* *Waiting For The Rise* : I know of some accounts that are powering down but to leave it in their steem account or other kind of savings. I guess they are waiting and hoping to maximize any rise in price.
* *To maintain the lifestyle* : Though this may not apply everyone but it is worth considering especially from minnows and dolphins perspective. Few months ago, crypto investors seem to be living large and dependent of the recurrent income from steem blockchain. But with the price below one tenth of what it was then and rewards not accumulating like before. There may be some needs requiring powering down.
But all these are temporary as a lot of steem from the powering down may end up getting powered up once still some rise which will likely to be soon with hardfork 20 and SMT in the horizon.
There are quite a few people with a lot of SP that are constantly powering down. They aren't powering down to leave the platform though.
Since we currently get paid in half Steem and half SP they are simply liquidating some of their assets.
As far as I can tell most people with bigger accounts are attempting to maintain their current level of SP while siphoning some Steem off in other directions, possibly towards EOS or Bitcoin.
I wouldn't worry too much about it. It's part of the process.
Yes, some are powering down - but how much? For most it's only a certain amount and they still are a whale.