Steemit power down
Aloha!
I found myself in a little bind regarding power down on Steemit. First of all, I must admit the transaction to convert other cryptocurrencies into steem and then deposit into my steemit account took minutes. However, a powering down into steem will take 13 weeks....?!!!!
I find this situation worse than a typical banking withdrawal; which takes minutes. Have I lost my intelligent somewhere on the Steemit door mat?!
Hmmm, I was trying to escape the typical sheeple debt slave mentality for a greener pasture as this beautiful Steemit but am I just a stupid sheeple; falling for and repeating the cycle again?!
I think I am. Well, let’s enjoy this 13 weeks of power down adventure.
Aloha!
I feel, 13 weeks very a long time. It seems that Steemit should slightly loosen their policy.
You can keep the power down active. When it arrives each week you can keep the liquid steem, convert it, or power it back up. It is good to keep your options open.
Aloha @doctorjohn! Yes, it’s a good idea to keep my options open. I guess I was feeling a little disappointed earlier.
Have a great day!
I understand how you feel. Especially if you need the cash immediately. But from the few things i learned, this was done to stabilize the system and keep it from crashing. Imagine what happens if all the dolphins powerdown at once and the system allows it to go in few minutes. It will cause havoc. So i believe it was done to protect the system from sudden collapse.
...it’s done to protect the large holders from sudden drop in pools they can’t cover.
Aloha!
Maybe. They know better. I was thought it protects all. Maybe it protects the dolphins better than minnows.
yeah, at least I can have beers with my buddies and chat about that I too was involved and suckered in a pyamid scheme. All in life’s learning
Its really a deep learning curve - steemit. You seem to continue learning to get to anywhere.
Steemit is not a pyramid scheme... It's far from perfect, but it's also far from a pyramid scheme. Now, the power down length has its reasons. We can argue over the merits, but....
You should count yourself lucky that we are in this brave New world of 13 weeks as opposed to the original timeline which was much much longer (2 years).
I mean no disrespect but even 13 weeks is still not appropriate. Two days, maybe.
The idea of an extended time period to cash out was to encourage commitment and interaction on the platform. It worked for a little while. It's actually pretty interesting how quickly the community aspect fell apart once the power down period changed to 13 weeks from 2 years.
I am a little intrigued by so many people powering down though...
yeah, I’m kinda intrigued by the rumor of steemit 2.0, launching sometime in the near future. where would that leave this one?! So, I’m heading out before I’ll find out.
Well, you didn't have to power up in the first instance. You could keep liquid Steem in your account and withdraw it any time.
However to be able to distribute rewards ( and earn curation rewards by doing it ) you have to power up indeed. The idea is to promote long time holding, but the choice is yours.
thank u @svamiva, that is a good idea. we’ll see how it goes.