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RE: Steem Powerdown needs to take 1 week // Creating a major sink for STEEM tokens
SP should be similar to holding fiat in a long term bond, There is interest if you keep it there and a penalty to pay for instant access but there should be a choice.
Being able to instantly access your funds means you can use it for practical purpose and that encourages business to create practical purpose for you to spend it on. As the flow of Steem and it's practical use cases increase, both users and investors will increase . This inherent fear of letting people 'cash out' is a nonsense. They have earned the reward and it should be their choice what to do with it . Give them stuff to buy or spend it on directly and it stays in the Steem economy.
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Well said. Up top you go. 😉
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I like the idea of a 15% + fee to Power Down faster, or to have it based on Power Down statistics..
BUT.. I want to choose when I power up if I want to make it possible to use that option in the future.
The reason being that I like having my Steem locked in Steem Power for 13 weeks since it gives me the option of being able to recover my Steem account if I notice any strange activity without having to worry about my account being cleaned out completely if I take a week or two off from Steem.
That's actually one of the reasons why I chose to invest in Steem instead of Bitcoin - Bitcoin wallets can be clean out completely within minutes if someone gains access to it.