Redeem Rewards?

in steem •  8 years ago 

How does this whole redeem rewards thing work? Should I or shouldn't I?

steem rewards cryptocurrency
8 years ago by

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$0.17
  • Past Payouts $0.17
  • - Author $0.14
  • - Curators $0.03
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      ·  8 years ago 

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    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
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    Submit
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      [-]
        ·  8 years ago 

      I am also wondering why one have to redeem rewards. I used the search to find and answer. (Thats also how I came across this post) I did not find THE answer yet but good speculation. It seems to be to pool blockchain transactions together... a performance/scalability improvement, so to say.

      If anyone has an official answer I would be pleased to know. But I guess you definitely should redeem once in a while. :)

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
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        [-]
          ·  8 years ago 

        I believe it is to decrease the amount of transactions through the blockchain. It also may reduce the possibility of old accounts to suck up new resources.

        It's a scaling system installed essentially to protect the system from an abundance of new users taxing the system.

        I may be totally wrong too. Buy that's what I've gathered.

        Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

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          [-]
            ·  8 years ago 

          Sorry I just came from a other post and was on a different page of the book for this post. Basically you earn rewards for creating, curating and up voting. You SHOULD redeem them so that you can use them to boost your steem power or withdraw the steem to convert to USD for purchasing products. By increasing your steem power with rewards you increase the influence you have woth your up votes and can earn more. It's like compounding interest.

          Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

          • Disagreement on rewards
          • Fraud or plagiarism
          • Hate speech or trolling
          • Miscategorized content or spam

          Submit
          $0.00
            1 vote