power down chart @ https://steemdb.com/labs/powerdown
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So what about the power downs on Monday 12/12? Aren't you concerned about that because it's double the amount of Steem than Tuesday?
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Monday power downs are always big because the main steemit account powers down on Monday, and that account does not sell steem. Tuesday is the day when most steem will get sold, being 1 week from the hard fork. As those users power down every week their account balance gets lower, so eventually they will run out of steem power, and the price of steem can start rising, holding steem power for at least 3 months from now before selling is the best way to flow.
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Yeah, the price will likely drop hardest during the first week and then start mellowing out after that. Personally, I just like to pay my basic monthly expenses with it so that I don't have to draw a salary from Fort Galt. It looks much better to my investors when I can save the project money and not have to take any out for myself. :) Besides that, I don't have much motive to sell steem and I intend to keep at least 50,000 SP long term.
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Fort Galt is such a great project, I see myself hanging out there "someday"
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Ah, makes sense. Thanks for explaining it brother! Been watching you on youtube since before you started your blog here on Steemit.
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Yeah, back on Nov 6th, in a video I made with @mrs.steemit, we discussed the hardfork news and I predicted that it would result in a sharp drop followed by a more gradual and steady recovery. My personal intent is to sell one powerdown (via changelly, to avoid adding to the downward pressure on the exchanges), hopefully soon enough to beat most of the other sellers, and then stop selling for a while as the price recovers from the dump. I'm expecting an influx of new investors buying-in soon so I'm betting the recovery probably won't take more than a couple months... but of course this is all just theoretical. I've definitely been wrong before :)
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Thanks for your research and conclusions. You've explained why STEEM's gotten whacked today, down below 28,000 satoshis.
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Earth to everyone on Steemit, don't listen to Craig Grant.
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but I'm so entertaining and honest, those are great qualities to have, I say listen, laugh, and have fun
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Yeah you're right, sorry for the rude comment, maybe just not the best trader haha.
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Hey thanks for the great info Craig. I made some profit with this strategy. Will probably continue using it. Ride the waves!
Just a note, I decided to make a Google Drive Spreadsheet of the power down stats for future reference. I noticed something interesting perhaps you can help explain. For Fri 12-16 on the power down chart IN YOUR VIDEO it says STEEM: 640,524. However, when I look at the stats now it says Fri 12-16 STEEM: ~607,399 STEEM.
As you can see, the amount of STEEM being powered down has been lowered by about 35,000. (The STEEM amount is also lowered for Thur 12-15). Any idea why this might have happened? Are you allowed to cancel Powerdowns on Steemit? I am not to involved with the Steemit platform yet in this regard, but I'm guessing this could be one explanation.
Also, a quick question if you would be so kind. I am having a little trouble understanding every aspect of the Power Down Statistics graph. I'm mostly having confusion over what "VESTS" really mean. That is my main confusion, but if you could make a video with a simple or in depth analysis explaining all aspects of that chart I would greatly appreciate it and I wouldn't be surprised if others did too.
Things I'm confused about:
Thank you Craig.
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yes, power downs can be cancelled, and to see what vests are look here https://steemd.com/distribution
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