RE: Power Down STEEM Power interest test by albensilverberg

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steempower · @albensilverberg · Aug 20 '16

Good test!  I have been curious about that as well.  During power down, I'm wondering if .. let's say steem doubles in value.. does it give you twice the amount of steem if it doubled that week?  Where is the cutoff or is it scaled?  Or is it completely independent of all of that and it's just an even converstion to steem cut into 104 week payouts?

👍 stealthtrader, snowcrash

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@stealthtrader · Aug 20 '16

These are all things I hope to find out during this test which will probably be 5 weeks.

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@albensilverberg · Aug 20 '16

Thanks for running the test.  I'd like to follow and watch.  One thing that's awkward is how fast the millionaire devs on here are powering down their Steem Power and transferring Steem to other accounts or exchanges.  Honestly that could be a decent portion of the selling pressure that has driven price down.  I very much believe in this system and I think it's their way of trying to minimize the whale effect overtime as whales probably aren't good for long term viability, but time will tell.

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@jl777 · Aug 20 '16

$0.02

whales are powering down, it does put downward pressure on the price. However, this is a onetime thing as once it is old, the STEEM gets distributed more to people with a much higher cost basis and thus less likely to sell at low prices.

Worst case, we have 2 years of artificially low price and then when the whale supply is gone,that is really when the STEEM price can reach full potential

👍 albensilverberg

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2 replies

@jl777 · Aug 20 '16

@blakemiles84: my understanding is that if you do just a single powerdown in 104 weeks, you have no steem power left. I explain how it works: https://steemit.com/steemit/@jl777/how-to-have-your-cake-and-eat-it-to-or-how-you-can-have-your-sp-increase-even-while-you-are-powering-down

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