STEEM interest while "Powering Down" pt 3
STEEM Power Interest
This is the results of data I have been gathering since I started my Power Down exactly 1 week ago.
I was just paid out my first Power Down payout which was 7.389 STEEM.
Obviously you can see that I transferred it immediately to Poloniex to avoid the penalty for holding STEEM on your Steemit wallet, but as you can see here..
I earned around 13 SP in interest in approx 48 hours.
So the main point of this was to see if we still earn STEEM Power Interest while Powering Down..
And obviously this proves that we do :D
What's the penalty for holding steem in wallet?
Its not to do with the wallet.
Holding as Steem Power means you earn more steem, which people refer to as interest but it's a bit more than that with the current inflation/dilution. Holding as SBD also gives an interest return.
Holding as just Steem, doesnt provide those returns. Transferring it out to an exchange also means you have less power on the site for curation rewards etc.
So basically the system encourages you to make any transactions/trades of Steem fairly quickly as you're missing out on the growth and rewards of holding it as SP or SBD.
It's not a massive deal, but trading it the same day would make sense.
Thank you very much for the clarity, cheers!
The supply of steem doubles every year meaning the price should halve (ignoring all other market effects) so holding your money as steem is a bad idea. With steem power you are awarded 'interest' that stops the majority of this dilution.
Hi! Sure you still earn SP interest even when powering down, whales power down and they remain with the same amount of SP cause they generate as much SP as their payouts.
Wink!
I ♡ the interest I am earning on my Steem Power! Wish my balance were larger. lol!
My one is not too bad , for the account size of a Little Plankton is Pretty Pretty Good. 👍👍👍
@bullionstackers