RE: Earn More & Power Down Faster - Video Chat with Mrs.Steemit
For smaller accounts like that, I can't see much motive for powering down. For larger steem power holders that have accumulated a sizable amount over the past few months though, it makes a much bigger difference. I'm not a whale but the difference for me, assuming a .10 price of steem, would be fairly significant. At the current rate, assuming your $0.13 price, I pull about 75 dollars per week. Under the new rate (same price), that would become more like $610 per week, which is enough for my girlfriend and me to live on for a month... so it would make sense for me to power down once and then stop to skip a few weeks before doing it again the following month. As the price climbs, the power-downs would become less frequent because I really don't want to sell steem power when I don't have to, since it will be much harder to accumulate. My earnings will have to actually keep up with my spending.
Speaking on smaller accounts such as myself, only motive I see in powering-down is that if you do what I do, which is trade the markets(Forex). All I need is 0.01(btc) to enter into a trade so, I can see myself powering down to trade and make more off it. All depends on your situation ;)
Nice post by the way, thank you!
Fast power down looks dangerous. Big accounts could quickly take out their capitals. We already see massive withdraws and now it create more pressure to STEEM ex-rate. May be much harder SP accumulation could compensate this trend in future.
Indeed but I think that it's good to let people that want to cash out to do so. A bunch of people will exit the steem market and the price will likely drop as a result but then it will start rising and continue rising as new people start buying-in because of how much more attractive steem has become to alt-coin speculators. It'll be fun to watch it all play out either way though :)
So just to try and understand this better, even though im not planning on powering down any time soon! Say i have 1,000.00 in SP. And i can power that down in 3 months at .13 cents how much does my 1,000.00 SP now become worth?would it still be 1,000.00 divided by say 13 weeks? Thanks for all the info ! Stemm on! 😉
Yeah, just think of it this way: Once per week, you'll be able to withdraw 1/13th of your total steem power at that time.
Well im constantly posting and curating, commenting, upvoteing etc. Etc.etc.! lol! I just dont want to lose my money that i have already earned! And it would have been nice for it to continue going up , like shares if your lucky! Thanks again! 👍
You'll still be able to earn 10% interest on Steem Dollars, in case you just want a sort of savings account.
But is my steem power still worth 1,000.00? Or will it be worth more if i just leave it alone? Thanks for the reply! 👍
Right now it earns interest when you leave it alone but that will be changing soon. After the change on the 16th, we won't profit from holding steem power.
In other words they are raising taxes for Steem Power holders.
Ooooh! I didnt know that! Well that sucks! Lol😕
Just means that we have to get our steem by posting and curating instead of just sitting back and holding steem power. Hopefully it encourages more activity on the platform as a result.