The Power of Powering Down-What I learned after Powering Down for Two Weeks
Let's face Steemit is new and a little strange to the majority of us.
I know that Steem Power is very important. Most recommend Powering Up! But I never saw any real instructions on Powering Down. The Whitepaper only says you get your Steem Power over 104 weeks, but doesn't go into a lot of detail.
So I was curious has to how Powering Down happened. On July 15th I Powered Down. On July 22nd I received my first payment of 35 Steem. I wrote about it here.
@bombastic was nice enough to answer questions I had. In the comment section.
I know that Powering Up is very powerful. But I wanted to see the alternative.
Here is what I learned:
- Powering Down is actually based on the amount of vests you have. You see this when you Power Down. If you check your profile on Steemd.com you will see how many vests you have.
- The amount of Steem to vests can vary. 35 and little extra Steem was deposited. Yesterday 38.070 Steem was deposited. The same amount of vests, but more Steem.
- And this maybe the most important, as long as you keep active on Steemit, posting, commenting, and upvoting you continue to earn vests. So you're getting paid while still earning Steem Power.
- You can stop a Power Down. And when you restart it you restart the whole Power Down process at week 104.
So here is what my wallet looked like last night when I received the Power Down payout. And note that the payout is less than 1% of my total Steem Power, that's because I've been active earning vests/steem power.
Below is a screen of my profile on Steemd. In the blackbox you see that it shows how many vests a week I am Powering Down.
So I started a new experiment. I stopped the Power Down.
But then I started up a new Power Down. And that new Power Down starts the 104 weekly cycle all over again. But next week I will receive a larger Steem payout. You'll notice that it isn't listed in Steem Power but Vests. And that new number is larger than my previous Power Down.
Thoughts on this:
- Powering Down can be very financially powerful. Especially if you keep posting. You literally could Power Down every week, thus giving yourself a weekly Steem raise. And of course if the price of Steem is flat or goes up, your payout in US dollars should be larger every week.
- Powering Down helps diversify my wealth. The money I have made here on Steem has been through work. I have not put any money into Steem. This money will go to paying down debt.
- Whales are Powering Down and it doesn't seemed to have killed the price of Steem. Yes, Steem is below $3 at the moment. But when I started on Steemit, the price of Steem was 20 cents.
If you need the money, Powering Down can be very useful tool. Don't be afraid to use it.
great post, thank you!
Can you provide detail on voting and writing while powering down. How much did votes count? Was it based on remaining vest?
What about posting? You still earned despite powering down? Thanks!
When I posted this and upvoted it I got 13 cents. (I believe.) But yes, you still have Steem Power and voting power. I upvoted your comment and it went from 1 cent to 13 cents. So you still have voting power as your are powing down.
Can you power up some of your steem that you recieved when you power down? Maybe try it with one steem?
Yes, you can do that.
Great piece. Thanks for sharing experience with process, been curious how it would look.
Thanks.
I've been wondering how all that worked. Thanks for this!
No problem, glad I can help people.
Thanks again - good to understand. I'm still in it for long run.
I completely understand. I'm certainly NOT saying that staying in is wrong. My thinking is to help create other options. I will probably stop all my power downs soon. But in the meantime I'm learning and getting cash. That win-win in my book.
I wonder if it makes sense to power down send steem to bittrex buy steem dollars at a discount and the. Power the new steem.
That's an interesting thought.
Useful info and with details, thank you!
Very, very helpful information! Thanks for showing us how the process works...I even made a post about the mystery of powering down! You answered pretty much all of my questions! Great to know:)
I had posted a question about powering down last week, but didn't really get a response on what happens after a power down payout, although several people were trying it out as well. Thanks for showing us what happens post-power down. Very informative. I'm still new to this, so any information such as this is appreciated!
nice consultation... i like that. do not afraid to reward ourself...
difficult to realise when you're a newbie on 1st week signup old.