Can someone help me understand what "Power Up" / "Power Down" means in the Wallet section?

in crypto •  9 years ago 

Apologies for the noob question, but I have three:

  • I just purchased some Steem and I see an option that says "Power Up" like the image below. I also see "Power Down" next to the Steem Power dropdown. What do these mean exactly?

  • What is the "Estimated Value" in the bottom of the pic being derived from? It says Estimated Value of $33.44 but my Steem alone should be worth more than $60
  • What's the different between Steem and Steem Dollars, if I want to trade/speculate on the price should I just deal with Steem?

Thanks

crypto
9 years ago by

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      ·  9 years ago 

    Power Up = Convert STEEM to STEEM Power
    Power Down = Convert STEEM Power to STEEM, not immediately but in batches of 7 days for 1 to 2 years as far as i know :-)

    STEEM generally is just meant as a transfer vehicle between BTC etc. and STEEM Power, whereas STEEM Dollars should always be valued at 1$.

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        ·  9 years ago 

      Thank you

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          ·  7 years ago (edited)

        what is the recommended amount of STEEM POWER to hold on the STEEMit acount? Furthermore, how does a certain amount of STEEM POWER on the account affact earning potential?
        Thank you in advance!

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            ·  9 years ago 

          Upvoted you

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