Account registered by another account requires 10x account creation fee worth of Steem Power before it can power down
If I power down the steem power I get his message:
Account registered by another account requires 10x account creation fee worth of Steem Power before it can power down
What does it mean?
Thanks for asking the same question I had :)
It means you have to make 10x the amount of STEEM from your posts or deposits before you can withdraw STEEM POWER
10x what number though, what is the fee?
It's not really a fee. To create a new account, it requires an initial deposit of 10 Steem (amount is set by the witnesses). That makes sense, because without SP they wouldn't be able to post.
Steemit pays that for new accounts created on their site, and to prevent them from signing up and withdrawing immideately they need to tenfold it before they can power down.
so your votes are worth 1.55? you can get a salary. How is this sustainable?
Don't spit your coffee when you see other votes worth 20$ and more ;-)
The value of an individual vote is dependend on the market cap of steem, one's steem power, and the amount of votes cast by others.
To get a lot of steem power and make them worth more, you need to invest or work hard on earning it. The early adopters had a head start, because they invested when steem was literally worth nothing. That risk is rewarded now.
Not long ago, each vote was worth a lot more although the market cap was way lower. As the platform grows, individual votes will become worth less and less.
What if I buy 90 more steem and power it up to SP. Would that qualify as 10x? Will I be able to power down then?
Ok, so 100 steem from interaction before getting anything out. That makes sense.
I'd upvote you but I see you already gave yourself a dollar fifty. :)
"If I had a dollar for every time I answer a question..." finally became true! ;)
Thanks for this reply, simple and helped clear up the confusion for me too. This site, is freakin radical, I'm excited to be here!
Upvoted you