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RE: Scratching the 7 day itch or: How I learned to stop worrying and love the short payout window.
Thanks for posting this Matt! I’ll have to chat with you next meetup about what powering up and powering down mean. I have a loose understanding but now I’ve been here for a bit longer I’d like to have a better chat and try to understand it more!
Absolutely :)
It's like buying shares in the blockchain. You can power up your steem instantly, which makes your upvotes more weighty and increases your curation rewards.
If you're going to want to cash some out, you need to power it back down, which takes 13 weeks.
(You get back 1/13th per week).
It's a way of making sure that the people with the most influence over the platform (voting for witnesses etc) are going to have the longer term interest of the platform at heart.
The bridge is furthest from the lifeboats.
Ohhh sounds good!! I think I might power up!! If it’s worth it with the amount that I have!
Unless you have gambling debts, and bad men are coming, I always recommend powering up.
It's easy to do with your STEEM, just click the arrow in your wallet and choose 'Power Up'.
Converting your SBD to STEEM in order to power it up might be a little more difficult.
It'll make your votes more powerful, so you can reward good content, and you'll also get more back in curation rewards. It's also a great anti-hacking measure. If somebody hacks your account, they have to wait a week to get any of your money.
@holoz0r can walk you through it on his laptop at the meetup, which is less than a week away!!! :)
I can and do agree with all these statements.
Awesome thankyou!
And thankyou!!