Can someone explain what it means to "Power Down"

in steem •  8 years ago 

Any explanations will be much appreciated.

steem
8 years ago by

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      ·  8 years ago 

    Hi boomturnup,
    Steem power represent the shares that you own here in Steemit. More steem power means more gain for you. If you decide to sell your shares (power down) then you will receive the equivalent in steem that you can trade in exchanges. But it is not an inmediate transfer to steem. When you Power Down it takes 104 weekly quotes to make the transfer... that is 2 years...

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        ·  8 years ago (edited)

      Hello there!

      I'd recommend you to read the Steemit Whitepaper, which explains all of the terms you need to understand when using Steemit (Power Down included).

      You can find it here

      EDIT: From the whitepaper:
      "Transferring from STEEM to SP is referred to as powering up while transferring from SP to
      Steem is referred to as 'powering down.'"

      I still recommended you read it though.

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          ·  8 years ago 

        Power Down is when you change your steem to steem power. steem power are influence tokens and steem are tradeable tokes for real money or another cripto currency

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            ·  8 years ago 

          Nope... "Power Down" is when you change "Steem Power" to "Steem"...

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              ·  7 years ago 

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                ·  6 years ago 

              Congratulations @boomturnup! You have received a personal award!

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                  ·  5 years ago 

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                    ·  7 years ago 

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