Hi there - thanks :) BUT ... I'm still a bit confused. When it says steempower will require 2 years and 104 payments to convert back to steem, do you know exactly what that means? Does it mean i will have to receive 104 payments from steemit before i have the ability to transfer steem power back to steem? I'm really sorry for this level of question.
RE: HOW TO: Convert Steem Dollars to Steem and then to more Steem Power if you want
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HOW TO: Convert Steem Dollars to Steem and then to more Steem Power if you want
and is there a conversion rate when it does convert back to steem? Is holding steem power really a legitimate way of holding steem, or can steem power sort of depreciate against the value of steem? (I trade sometimes so I've got used to whether one thing appreciates or depreciates against another) I'd basically like to hold steem long term as I think this is quite an idea and it'll work... I'm wondering if converting my steem to steempower is a legitimate way of HODLing steem whilst also getting some additional community-building rewards-reaping practical use from it whilst HODLing... Hope that makes sense. It'd be bad if, after holding the steam power for 2 years, i converted it back to steem and it would have made much better financial sense to just hold the steem instead...
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That sounds like an old document.
They changed it to 12 weeks to power down completely awhile back. It pays you every week for 12 weeks. IF you did nothing with your account it would be completely powered down in 12 weeks. You would receive 12 payments of steem once per week.
When you initiate a power down (give it a shot, you can cancel it... it won't actually do anything if you cancel it before 7 days when the first payout occurs). It asks you how MUCH of your steem power you wish to power down. The default is the maximum you have at the time of the power down.
So if you had 1200 steem power and you said to power down 1200 steem power and you did absolutely nothing else with your account you would receive 100 steem per week for 12 weeks.
If you did things that gave you more steem power that would not be included in the power down.
There is no conversion fee, only time.
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Cheers sir!
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