You are viewing a single comment's thread from:
RE: Earn More & Power Down Faster - Video Chat with Mrs.Steemit
So if i have say 1,000.00 in steem power, and power it down and it pays out over 13 weeks , how much does a prerson actually get , ?! At say .13 cents!? Its not worth powering down is it? Or am i missing something?! Wouldnt most still want to wait for the price to go up!? I find this all very confusing! Lol! Please help! 😕
For smaller accounts like that, I can't see much motive for powering down. For larger steem power holders that have accumulated a sizable amount over the past few months though, it makes a much bigger difference. I'm not a whale but the difference for me, assuming a .10 price of steem, would be fairly significant. At the current rate, assuming your $0.13 price, I pull about 75 dollars per week. Under the new rate (same price), that would become more like $610 per week, which is enough for my girlfriend and me to live on for a month... so it would make sense for me to power down once and then stop to skip a few weeks before doing it again the following month. As the price climbs, the power-downs would become less frequent because I really don't want to sell steem power when I don't have to, since it will be much harder to accumulate. My earnings will have to actually keep up with my spending.
Speaking on smaller accounts such as myself, only motive I see in powering-down is that if you do what I do, which is trade the markets(Forex). All I need is 0.01(btc) to enter into a trade so, I can see myself powering down to trade and make more off it. All depends on your situation ;)
Nice post by the way, thank you!
Fast power down looks dangerous. Big accounts could quickly take out their capitals. We already see massive withdraws and now it create more pressure to STEEM ex-rate. May be much harder SP accumulation could compensate this trend in future.
Indeed but I think that it's good to let people that want to cash out to do so. A bunch of people will exit the steem market and the price will likely drop as a result but then it will start rising and continue rising as new people start buying-in because of how much more attractive steem has become to alt-coin speculators. It'll be fun to watch it all play out either way though :)
So just to try and understand this better, even though im not planning on powering down any time soon! Say i have 1,000.00 in SP. And i can power that down in 3 months at .13 cents how much does my 1,000.00 SP now become worth?would it still be 1,000.00 divided by say 13 weeks? Thanks for all the info ! Stemm on! 😉
Yeah, just think of it this way: Once per week, you'll be able to withdraw 1/13th of your total steem power at that time.
Well im constantly posting and curating, commenting, upvoteing etc. Etc.etc.! lol! I just dont want to lose my money that i have already earned! And it would have been nice for it to continue going up , like shares if your lucky! Thanks again! 👍
You'll still be able to earn 10% interest on Steem Dollars, in case you just want a sort of savings account.
But is my steem power still worth 1,000.00? Or will it be worth more if i just leave it alone? Thanks for the reply! 👍
Right now it earns interest when you leave it alone but that will be changing soon. After the change on the 16th, we won't profit from holding steem power.
In other words they are raising taxes for Steem Power holders.
Ooooh! I didnt know that! Well that sucks! Lol😕
Just means that we have to get our steem by posting and curating instead of just sitting back and holding steem power. Hopefully it encourages more activity on the platform as a result.
If you wait how do you know the price will go up and not down?
This is so true! And i didnt realize that after November 16 we will no longer profit for holding onto our steem! Bummer! 😕
@dana-edwards This is called 'investing' . You have to be patient ;) You have to know when to buy low and when to sell high - Or go for the long haul watching as price goes up and down until it reaches a point when you feel the price is right for you to cash out.
I'm not interested in that kind of gambling right now.
Ive never been on stock market! Never owned stock, and really dont understand alot abouT it! All i know or have heard is to buy low sell high! So if steem is at .13 cents now is not the time to sell, im guessing? So your saying its better to maybe leave my money in steem power till it say goes back up hopefully to 4.00 where it used to be, then cash it out?! ♨♨♨
@karenmckersie yes, leaving m0ney in Steem-Power as of now is not only good for giving you power in terms of rewarding you when blogging and or curating, but your money also grows as it sits in Steem-Power. BUT pretty soon come time the 16th(Nov), gaining interest on your account will be no more;(
You can still gain by blogging/curating but, the MORE Power(steem) you have, the bigger the rewards ye dig!
Awesome! Thanks for all the info! And replying back to me, STEEMING ON! ♨👌👍♨