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Seeking further steem power explanation by lostnuggett

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· @lostnuggett ·
$0.03
Seeking further steem power explanation
With the huge influx of new users I can not be the only one who is still fuzzy about powering up and or powering down,if anyone could further explain how they function when compared to steemcash I think it would be very  helpful for not just me but for the many hundreds of new users per day.It would be nice if there was something like there is on the bitcoin subreddit;a collection of useful links and explanation of core concepts.The more educated we are as a community the faster it can grow and the better the user experience for all
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vote details (11)
@btcswag ·
Steem is the currency.

If you have a long-term outlook on Steem, then you will want to power up your Steem to Steem Power.

Steem Power is like a vote. For every Steem Power you have, you have an additional vote when you curate content. To cash out your Steem Power, you must power down.

By powering down, you convert your Steem Power back to Steem. However it takes 2 years, or equal weekly payments for 104 weeks to convert your Steem Power back to Steem.

If you have enough Steem Power to convert to 104 Steem, then you would receive 1 Steem per week for 104 weeks when you went to power down your Steem Power.
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vote details (1)
@lostnuggett ·
Thank you so much this helps with my questions,how does one power up steem to steem power?
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@bubblyapple · (edited)
Hey there, welcome!  May I refer you to the "question" tag as well as the "steemit-faq" tag?  The tag list can be found on the right side of the homepage.  Cheers!
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