Questions about Power Down that disturb me...
For example if i have 1500 SP/Steem Power and its acumulate 12 SP in 24 Hours
And in 1 month it bocomes 2000 SP in 2 month 2500, 3 month 3000 etc.)
Then how much i will be able to withraw after powering down if my SP will grow endless?
I'm confused because i read that you can withraw only 104 times and about 1% every week (After power down)
And that every year split reversion will occur 10: 1, every 10 Steem turned into 1 steem!
"The STEEM network performs a 10:1 “reverse split” every 32,000,000 blocks (about 3 years). At this point in time all balances of STEEM are divided by 10 and all prices are multiplied by 10.
Collectively all holders of SP will lose at most 0.009 STEEM"
Can someone clear for me this questions?
The Steem Power in your wallet is called VESTs behind the scenes. That number doesn't change unless you receive rewards from posting, commenting, voting, or powering up/down. The change in number that you see is a reflection of the change in the conversion rate between VESTs and STEEM.
I don't get this: "The change in number that you see is a reflection of the change in the conversion rate between VESTs and STEEM"
And you didn't answer on other questions, can you be more specific and give an example?
There is no such thing as Steem Power (SP) in the back end. When you power up, your STEEM is converted to VESTs. When you power down, your VESTs are converted back into STEEM. The conversion rate changes over time, though... so that balance appears to be growing. It's showing you how much STEEM your VESTs are worth.
The reverse stock split shouldn't have any meaningful impact on the value of the STEEM you hold. if you have 23,984.236 STEEM when the reverse split occurs, your balance will become 2,298.423 STEEM. But each STEEM will be worth ten times as much.. so you'll lose 0.006 STEEM of value. Basically a rounding error.
Now its pure clean for me! thank u dude! upvoted
@bacchist: so once you down down, the amt of steem power will convert back to steem in a period of 2 yrs? Am i right on that?
Yeah, and it will be done by giving you 104 equal fractions of your VEST balance. But as the conversion rate between VESTs and STEEM will go up over time, the same number of VESTs will be worth more STEEM... so the payments will seem larger over time (more STEEM).
@bacchist: Thx for the clarification :)
Quality questions!
The answers are so solid that this post is something people should be promoting and spreading around. Shit, we could make this a great go-to post for people not sure about the whole economic aspect of steem.
Me as a new user do have this question on mind. Anybody could re-post articles related to @foma17 question?
That sounds about right.. For every 1 Steem released into the wild, 9 steem are given to the Steem Power holders. This gives you much less exposure to the printed steem and gives you an opportunity to earn more curation rewards by participating and helping to promote good content.