What does the "Estimated Account Value" really mean? This is a number I see in the wallet here on Steemit.
Is it valuable or just a nice suggestion? Can it be converted to bitcoin, like Steem dollars, or used in some practical way?
Thank you for your help.
Terry
It takes the average price of Steem over the last 3.5? days. So if you had 1,000SP in your account and the average price of Steem were $2.50, your account estimated account value would be $2,500. If, in addition, you had 500 Steem Dollars, I believe your estimated value would be $3,000.
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I second this answer. It is an estimate based on the exchange value of trading Steem and Steem Backed Dollars (SBD) on the exchanges. I thought it was a 7 day rolling average. But either way, it's an "Estimate."
If you want to convert any of it into actual BTC, it's actually pretty easy and there are plenty of posts that describe the process. My suggestion though it to NOT power down, but it's just a suggestion.
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I believe they changed the price feed from 7 days to 3.5 days back when they changed the amount of time it takes to convert Steem Dollars into Steem.
I don't think the estimated account value factors in the market price for Steem Dollars. I think it counts each Steem Dollar as $1.00, regardless of the current price.
I could be wrong on either of these points, but I'm about 80% sure they're correct.
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Thank you, shenanigator. Does that mean that we could take the estimated value to an exchange to get bitcoin?
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Yes, but if your account value is in the form of Steem Power, you have to "power down" before you can exchange it for Bitcoin. When powering down, each week you'll get 1/13 of it each week for 13 weeks.
If you have 1,300 Steem Power and you power down, you'll get 13 payments of 100 Steem each, starting 7 days after clicking power down. If Steem is priced at $2.50, you could sell each power down for $250 in Bitcoin.
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Now, it starts to make sense! Thank you, shenanigator! That makes sense.
For now, I want to power up and build more value into Steem. I will keep that in mind.
Mucho appreciated, my friend!
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De nada, mi amigo.
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@shenanigator thanks for this rely. It has pumped quite some sense into my head.
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It's WAY OFF. I currently have 114 SBD which should be valued at $8.21 USD each (https://coinmarketcap.com/currencies/steem-dollars/), so $935 USD total.
However my "Estimated Account Value" shows $118?
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Yes, I am wondering as well, @kaneim. Let's do some research on this and find out what is happening. Either way, Steemit is doing well now and I'm more thrilled than ever with it.
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Did you find out why? I was thinking the number could be SBD, not really USD.
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Beats ME, but currently I have a very nice 8 BILLION DOLLARS showing in mine! - I hear Mexico is nice this time of year! LOL
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me too lol
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Awesome isn't it? - Now if we can work out how to cash it out...I hear Mexico is lovely at this time of year! LOL ;)
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Hey Terry, you readin' my mind? I look at it all the time and think "wow! that's kind of cool" but I have no idea if it really means anything!
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Once again, Dennis, you and I are thinking alike, my friend.
I don't know if it means we can tap into it or not. Perhaps it is more like the (perceived) value of a home. What you can get on the market is only really known when you put it up for sale and someone is willing to pay $X for it. The amount of X would really depend on the value the buyer places on it.
What do you think?
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Yes, that's kind of my thought.
Wasn't sure if there was some sort of algorithm that values your reputation, followers, steem, sbd and sp balances.
I'm sure someone around here can explain!
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Thank you, Dennis!
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please tell me who i can up my account power.
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I have $61million...can I turn in my notice at work yet? Or should I stay for the benefits?
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I was also searching for this question's answer,
But what is the process of transferring Estimated Account Value
@terrybrock , please reply
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I have problem with that to sir terrybrock Im so newbie and thanks to this your post is really helping a lot of comment to gather.!
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Hello fellow steemir! I just wanted only to know why my wallet is always dont have any declare steem dollar even i have estimated account value? this is?
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Can we cash out the "Estimated Account Value" somehow? Thank you guys.
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New here and been worried on the same question. Nevertheless, @shenanigator has enlightened some of us on this. Thanks a bunch! @shenanigator
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