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RE: Steemit Vlog #4: Steemit 101 - Steem, Steem Dollars, and Steem Power
My question is in regards to powering down. If I am powering down, but still posting blogs, comments and upvotes, I still receive Steem Power from those new posts correct? If that is true, I I should be receiving a weekly payout that increases as time moves along. Am I correct in that? Thanks again for the great video.
That is a REALLY good question and one I had myself, which is why I didn't specifically talk about it in addition to the fact that it's a bit more detail than I wanted to go into. I always assumed that you could power down a specific amount. So if you have 11,000 and you powered down 1,000 Steem Power, you would start receiving payouts of 9.62 Steem every week until that 1,000 is payed out. You would still have 10,000 in Steem Power, and any new SP awards would be added to this balance. If you can only fully power down, then yes I would assume that you will still receive new steem power
I noticed that the Wang bot is doing it. It is powering down and of course posting and voting like crazy. If I power down at 11,000, am I ONLY powering down the principal of 11,000? Or am I powering down the 11,000 PLUS interest and other Power created? Because if that is true, it may be financially useful to powerdown and keep posting and voting like crazy. Thanks again.
To be honest, I don't know. I'm of the personal opinion that the most financially rewarding strategy is to post quality content as frequently as you can and curate content well. I think any time spent trying to "play the system" is probably time that would be better spent creating quality content. But that's just me. That being said, I don't think principal and interest are in any way differentiated. Your steem power is like a safety deposit box filled with IOUs. When you are rewarded interest a fungible IOU is simply added to "the pile." If you want to cash out 20 steem power, then 20 IOUs will be taken off the pile and then distributed out to you in 104 weekly payments of steem. My guess would be that what the wang bot is doing is a good short term strategy especially if the goal is to cash out into BTC or USD as soon as possible. But I doubt it beats just leaving your steem power as is over the long run, considering the high rate of interest as well as the additional influence you have in the system.
I'm experimenting. I powered down today just see what would happen. And I was told I powered down a specific amount of Vests, that equaled the amount of Steempower I had at that moment. I have since posted and upvoted content and I still am giving out about 4 cents per vote. So I will wait and see if the steem power created from those posts, including this one, will be powered down with the original vests, or left alone.