Question Regarding "Estimated Value" of Steem Power in my Steemit Wallet by thisisgentleman

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steemit · @thisisgentleman · Jul 11 '16 (edited)

$0.10

Question Regarding "Estimated Value" of Steem Power in my Steemit Wallet

I am very intrigued by the steemit platform and after some readings decided to purchase some steem power. One strange thing I noticed though is that I purchased around $400 worth of steem power but when I checked immediately in the wallet section, the "Estimated Value" of my steem power shows less than half the dollar value of what I purchased.

Can someone help me understand this better? Is this due to issues with the SP price estimation or price fluctuations or did I miss some fine print somewhere?

👍 chryspano, gardenlady, neoxian, linouxis9, rseixas, jonnyrevolution, thisisgentleman, criticalproof, joelpa, bladetrigger, ardina, mukulgupta, steemtest, qonq99

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@gottahaveit · Jul 11 '16

$0.04

This is because the "estimated value" is always based on the price over an average of 7 days. Since STEEM only recently started shooting up in price, the current value is lagging a bit behind.

👍 neoxian, toxonaut, rseixas, thisisgentleman, criticalproof, owdy, bladetrigger, gamarin, qonq99, latebunch, persianqueen

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@thisisgentleman · Jul 11 '16

awesome, thank you for the explanation! How/where is steem power price estimated since its not really traded anywhere and requires a 2 year probation period to withdraw?

👍 thisisgentleman

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@chryspano · Jul 11 '16

If you use the GUI(steemit) then 1 STEEMPOWER equals 1 STEEM for the calculations

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2 replies

@nicholasparr · Jul 11 '16

I came here to see how much steempower is when you upvote a post. Like how much does the writer get on the post if someone with 100 steempower upvotes.

👎 banno

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@scrawl · Jul 11 '16

I believe the valuation uses average price of the week - hence it is not fully accounting for the 250% rise that STEEM has had over the last few days. Check back in a few days to see if your estimated value increased.

👍 thisisgentleman

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@thisisgentleman · Jul 11 '16

Thanks! I asked the same question above to another commenter but figured I'd ask for your perspective as well - how/where is steem power price estimated since its not really traded anywhere and requires a 2 year probation period to withdraw?

👍 thisisgentleman

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