Can someone here on steemit explain the current power down process ?? Anyone willing to dive into this for myself and other users.
I have a few questions that come up a lot when talking about steemit and I would like to know what the current processes are for POWERING DOWN?
also if you had 100 steem power and you powered it down would you get all that 100 steem power in steem once power down was complete?
I will give 2 Steem to the best comment or link to post explaining Steem Steem Power and the Power Down Process.
Thanks guys
Shavon Bonnie Legion
As a summary:
-- you have 7 days until you either get 1/13th of your Steem Power paid in Steem or you canx the power down (under Steem power in your wallet) before the end of 7 days.
-- you can canx the power down at any time during the 13 week payout. For example, if you only need 1 week payout, you stop after the first power down.
This is what I know from my experience. Hope it helps.
Thank you for taking the time to write that out my friend.
My post on this subject will probably help: https://steemit.com/steemit/@ura-soul/howto-power-down-and-withdraw-your-steem-power-in-the-most-effective-way
Yes, 13 weeks and each week 1/13th is paid out. You can stop the power down after the first payout if you want.
much appreciated
I think you will receive Steem based on your current SP for the week, 13 weeks in total as everyone pointed out.
When you do a power down your steem power will be payed out to you in 13 weeks. So if you have 1300 steem power, you will get 100 steem every week.
at the end of the power down if you powered it all down, then you would get 1300 steem? is this correct?
yes you get all of it
You can also stop the power down anytime you like. So if you stopped after 6 weeks for example, then you'll keep the steem that you powered down and you'll keep what's left of the steem power
I am doing a test run for a power down now. but nothing has happened. How long untill the first payment of steem goes up for the steem power power down. ?
If you check your wallet, below estimated account value, it will tell you how long until the power down takes effect. When you get within 24 hours left, it will tell you by the hour and when you get within 1 hour, it will tell you how many minutes left.
The first payment is a week later, if that was you question. The info is there on your wallet.
You would get 100 steem each week, not 130.
woops, where's my head :D
Big like for you!
Great question indeed. I've never powered down my self but would love to know the outcome. I'll be following this post. Upvote, Following your blog, and RESTEEMED. Cheers soundlegion.
You can read in detail here https://steemit.com/faq.html#What_is_powering_up_and_down