The good news about that: don't power up your STEEM. Then you can withdraw it at any time :) The "influence" you get by powering up does not come at any cost! At least it's not like the DASH network where you must have 1000 Dash units (~$181,000 today) in order to stake some sweet rewards and influence :D
Robert, I'm still trying to get clarity on one thing. I've read the white paper; I just want to be sure. If I power up to, for example, 20 Steem power, can I lose those tokens through broadband use? I know that I can lose voting power and have to wait to recharge. I'm fine with that. I just want to know whether I will always have 20 Steem power, regardless of votes and content, until whatever time I power down. Thank you.
You never lose steem, when you power up, it just converts your steem to steem power, which gives you higher rewards for voting on other peoples' posts. You're SP is not used up by voting, but the weighting of your votes will deplete and recharge as you vote and time passes. Your SP would only go down if you were to power down, in which case you are really just converting your SP back to Steem. You would receive installments when you power down, but in total you would never end up with less steem than you put into SP.
Thank you. And one Steem Power converts back to one Steem? If so, I will gladly convert it all to SP, since it sounds like it will grow at the rate of Steem, plus earn interest.
If everyone could take their cash out at once tomorrow there would be no more money to be made or talk about. The bigger picture is keeping the tree alive so that you can keep harvesting from it. Not cut it down after the first harvest.
If you like your money - keep them to yourself but don't expect to gain anything either. It's a simple life's truth - you gotta be willing to give to profit from anything.
The good news about that: don't power up your STEEM. Then you can withdraw it at any time :) The "influence" you get by powering up does not come at any cost! At least it's not like the DASH network where you must have 1000 Dash units (~$181,000 today) in order to stake some sweet rewards and influence :D
to cash out / exchange steem for btc usually requires a 10 steem minimum (at least on blocktrades)
Robert, I'm still trying to get clarity on one thing. I've read the white paper; I just want to be sure. If I power up to, for example, 20 Steem power, can I lose those tokens through broadband use? I know that I can lose voting power and have to wait to recharge. I'm fine with that. I just want to know whether I will always have 20 Steem power, regardless of votes and content, until whatever time I power down. Thank you.
You never lose steem, when you power up, it just converts your steem to steem power, which gives you higher rewards for voting on other peoples' posts. You're SP is not used up by voting, but the weighting of your votes will deplete and recharge as you vote and time passes. Your SP would only go down if you were to power down, in which case you are really just converting your SP back to Steem. You would receive installments when you power down, but in total you would never end up with less steem than you put into SP.
Thank you. And one Steem Power converts back to one Steem? If so, I will gladly convert it all to SP, since it sounds like it will grow at the rate of Steem, plus earn interest.
Yep, you always keep what you have, it just converts bacl and forth between Steem and SP.
Excellent. I love it!
If everyone could take their cash out at once tomorrow there would be no more money to be made or talk about. The bigger picture is keeping the tree alive so that you can keep harvesting from it. Not cut it down after the first harvest.
I kind of like my money so i can buy a house or something big, 2 years is not going to cut it for anybody.
I guess we could use earned STEEM for coffee, and use bitcoin or ether for house and car : )
We run a steem meetup on the last Thursday of each month, in the beer garden at the Jade on Flinders St.
Next one is on March 29th, from 6pm.
Please join us any time you're free, or hit me up if you have any questions.
If you like your money - keep them to yourself but don't expect to gain anything either. It's a simple life's truth - you gotta be willing to give to profit from anything.
Good job on the account brother, if you power down now you will have passive weekly salary (:
Exactly! Well said. We are creating our own value, and we need to protect it from vultures for everyone to prosper.
Not 2 years but 3 months.