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RE: How to Power Down Your STEEM POWER The Smart Way
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!