📌 Video: Should we be concerned when whales power down?
Worried that the early adopters might just take the money and run?
Fear not. In this video, I explain what is to power down and what it means for the platform.
-hat tip to @heimindanger for the work on Steem Whales
Powering down is also able to be stopped at any point. It doesn't lock the action in for the full two years it would take. Powering down can also just be an option they do for a period of time to pull capitol out for a few weeks and then put it all right back. I like your posts and always appreciate the information
Exactly. You can stop it at any time and you can also power up without cancelling the power down. That makes for a lot of flexibility, which I love.
You said it better lol.
Just started following @piedpiper today but I really like his explanation videos! They're easy to understand, and he's not boring. Some lil graphics in the videos couldn't hurt though. :)
Not boring? Gee, thanks mister! :)
I'll toss graphics in if they're necessary but I'm trying to keep everything as simple as possible.
The next logical question is what happens if everyone follows the lead of the whales and starts to power down? The funny thing about this is that a lot of people have theories and questions now, but in a year or 2 the experiment will be much older and we will know a lot more. By this time in 2018 we probably will have most if not all of the Steemit/Steem answers. Time flies.
There's not much incentive to power down until you have built up a sizable steem power reserve. A weekly 1% cut of a hundred bucks isn't all that enticing to most... but yeah, we'll know more as time goes. It's still super early.
If everyone powers down I'm going on a steem buying rampage lmao. Lots of wicked Info in the video as well as the comments here, thanks everyone.
haha, yeah, I would too. It's pretty low right now, actually. Looks to me like a great time to buy in.
That's just it I bought in at .22 CDN so right now I wish I bought more at that price, however instead of buying more I actually invested in a miner and I've had that thing runnin for a while instead. Definitely woulda made more buying in early but I wanted to get into the mining side as well and what could be a better time to do that then at the beginning. So I am 100% happy with everything so far.
Great explanation of what is going on. The 104 week payout I believe is what helps prevent this from becoming a pump and dump scheme. Of course the early investors are going to make some bang on this, its the reason investors invest into projects.
Yeah, the delay was a stroke of genius. It adds a lot of stability.
Hey @piedpiper, keep up the great work. I really enjoy how short and consumable your videos are and you've got a good knack for talking about the hot button topics as they're happening.
Thanks Jesta!
For everyone that hasn't already done so, check out SteemStats!
Awesome! The information and the way you deliver them is awesome! Thank you @piedpiper!
My pleasure!
Its important to keep in mind that the system was designed for 90% of steem to be steempower and 10% to exist as "liquid steem" (per the whitepaper). Currently, the ratio is closer to 97% SP and 3% liquid steem. So a significant amount of powerdown right atm is, in fact, a move toward normalcy
Excellent point!
Amazing video , very educative , yes steemit is built to last cheers :)
Great video! That helps me to understand Steemit a little bit more. Thank you for sharing. Upvoted! I don't know if you upvoted my latest post, so here it is. Cheers! :-)
Hey Katie! Great to see you here! Upvoted! Please upvote my recent post. Cheers! :-)
https://steemit.com/secession/@danilo-cuellar/7fmacd-secession-is-the-essence-of-anarchy
Good to see you, Danillo! Of course I'll check out your material :)
Yes, very sure! There is a difference - to draw some blood or to pump out all the blood at once. In the first case, the blood will recover, in the second - a man will die.
Or less bloody analogy. The tree bears fruits and we collect them, while not causing harm to the tree. This is normal, it's natural, it works. It is obvious that it should work here in Steemit as well.
Thanks for the very clear explanation, @piedpiper! I'm your follower.
That blood analogy is excellent.
precisely ;)