The last week or so,we were all witnesses of a nice steem run.
Despite the fact that BTC which usually determines the price kept moving sideways, increased demand for steem tokens drove price almost 40% up.
There were rumors that Samsung was buying hard...who knows...maybe they were just rumors. Maybe not. The thing is that many of us, apart from content creators, are also investors (myself included).
And every investor wants to make profits. Right? Even though I trade every now and then, I don't consider myself as a trader. But watching the correction that is taking place in the price of steem over the last 48 hours, I would really like to have my steem tokens available for a trade, only to stack even more of them.
But as we all know there is this 13 week powerdown period...
Some may say..."It's your fault...you shouldn't have vested all of it" or "this 13 week window is a safety net" and so on...
From my perspective...this 13 week powerdown period should be reduced. And I mean a lot. Like 2 maybe 3 weeks tops.
Does the fact that I would gladly trade my steem tokens when price climbed at 0.41$ only to add even more and power it up again now that price is going down, makes me a steem non believer? A traitor? What?
I am a HUGE steem believer actually.
Unless of course last weeks hype made you think that price will keep going up forever.
Is it just me who thinks that these 13 weeks feel like a lifetime when it comes to crypto prices? Is it just me who thinks that it's a burden and almost every time a wasted opportunity for investment and profits?
Nah...it can't just be me...
I am really looking forward for your comments in the comment section below. Feel free to share your thoughts.
The market forces are a strange beast.
I'm of the other mind and would extend the power down period. If less Steem was on the market and more was powered up, you wouldn't have the fluctuations....Unfortunately when huge holders like Steemit inc selling like no tomorrow (pump and dump will happen). In this sense you may be right and we need to go the other way - food for thought.
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I know that during the early days the power down period was 2 years. Which shows commitment, but was also crazy. We can't avoid pumps and dumps...not in steem nor in every coin. It's just the way things work...
I only share my thoughts as a guy who is here for the long run and is not in a hurry...But I wouldn't say no if I could add more steem and gain more influence on the platform when dumps happen.
PS ~70% of all steem tokens are vested which means there are many believers around!
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I quite like that feature about steem with its lockup period, it helps to avoid people dumping their coins on impulse and separates the investors from the traders.
I would however agree that the 13 week (3 months?) Power Down period in the world of crypto is far too long. Maybe reduce it to 4 weeks?
I would also like to see a better separation and information on the rewards for holding steem and then for curating.
Those that power up are taking steem off the market and adding value for all other steem holders. That should be better rewarded.
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I know many of us would buy those dumped coins and vest them in the blink of an eye.
It would be something that would make many people happy...
I'll agree with you 101% on this one. We definitely need better rewards for curators.
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A 4-week window would be ideal. Not too short (so we can't cash out just like that), but at the same time not too long (if someone can't wait ~1 month to get their investment back, then they shouldn't have invested in the first place)
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I don't mind it. The thing is that you have two parts to your wallet. If you like you can keep your steem as liquid. Or you can vest it to gain influence ala curation and voting power but the price you pay is the power down. It's a trade off is the best way of seeing it.
Having witnessed the original 104 weeks to power down I do much prefer this time frame :0)
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I wouldn’t be able to support others as much as I wanted if I kept it in liquid form. And I would miss @abh12345’s lovely pies 😜
To be honest, I always keep some in liquid form on exchanges so I can trade it when there are big fluctuations in price.
I haven’t and I think, having your money frozen for 2 years must be kinda stressful.
Ps. For all of us who are here for a while these 13 weeks might seem normal. The question is: is it attractive for a newcomer/ possibly big investor?
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It's just an option though. If you are a big investor you don't need to bother vesting at all. It's only worth it if, as you say, you want the benefits that vesting it brings. For me at least I think it's a plus but I remember when I used to think it was rubbish;
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The 13 weeks deal is one of the main reasons why more investors have not jumped in.
You can't even react to news fast enough to make profitable or cut loss decisions.
Thirteen weeks is way too long for even for traditional stock market. Can you imagine not being able to react and sell your holdings at an opportune time?
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The 13 weeks not not long enough as an investor your account needs to always be on powerdown, check most of the whales on steemit their accounts are on powerdown to they can actually have tokens to sell anytime there is a bull run, make it an habit so u would always optimize and maximize every price pump
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Makes sense
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I agree with your sentiments. I’ve always been an active trader and supply and demand dictates the market and we should have more flexibility without a 13 week waiting period.
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I think that there must be a "safety net" but 13 weeks is just too much...
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I respect the concept and appreciate the stability it is meant to bring to the value of the token. I also like to sell high with the intention of debuting low in order to increase the stake I have in the platform and blockchain I believe in.
I use vested as my power to network, upvote and delegate. I try and keep a handful of play money in liquid steem to swing trade. I also play on exchanges with a little more steem and will cash that profit back into sp when I make my profit as price recovers.
As for the 13 weeks, I do believe it is a bit long but like that it gives people pause and keeps me dedicated to progress and networking while the bear market is on.
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I respect that and we have the same vision.
If the powerdown period was ...let's say 4 weeks, would that stop you from being dedicated and focused?
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Just split your money, some in steem and some powered up. Why would you even trade all your holdings ? I don't think its a good trading strategy to trade with all your account.
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