I spent 18 months building my bank in tsu, and was withing $20 USD of reaching
The goal amount needed to cash out and realize some "Real World Funds"
When tsu folded, and overnight all my money and dreams of being paid for all
my posting of '#originalcontent' disappeared overnight, without warning or
Notice.
This past seven days of instability in steemit, and the apparent inability of the creators
And/or programmers to get things back on track, has me very worried.
I do not wish to leave steemit but I DO WISH TO GET SOME MONEY OUT NOW
while the getting is good, just in case... don't you know. 😉
I've spoken about this with folks many times, and have always been cautioned to
"Stay the Course"...'at the rate you're going, in 12 months you'll be a God' was
Said to me.
Fine, I'll just be a God with some real cash in my hand, which I COULD put back
Once the system stabilizes once more (IF it stabilizes)
Now, someone please tell me the steps I need to take to convert my Steem power
Back to Steem Blockchain Dollars (SBD), accounts I need to create, to convert those
To Bitcoin, and then convert THOSE to USD.
All real, legitimate help will be deeply appreciated.
Thanks.
Jerry
Currently you can not do anything, because all your Steem is locked up in Steempower. It will take 13 weeks to get it all out. You need to start a Powerdown of your Steempower.
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I clicked on "Power Down", and was confused and daunted by what I saw.
I know that you can't just 'take it out' that it will come in installments, but
Come from where TO where? will it go back into my bank (SBD?)
If so, why can't I convert SBD in small increments as well?
Thanks for your reply @woodywood143
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I just looked at your wallet, if you PWD now you will get 58.23 STEEM a week, That will show up in your wallet where you now have 2.00 steem.
You can Convert STEEM back to SBD in the Internal Market. Click the dropdown next to STEEM and click market
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So if Steemit folds during that 13 week period where I'm getting $58.23 a week, everything I have that hasn't been returned to me will also disappear.
Shades of Tsu all over again.
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Theres a lot bigger picture here than TSU. STEEM and SBD are both listed on Worldwide Coin Exchanges as Crypto currency. While TSU was owned by one Person (centralised) Steemit and all the apps and blockchain are run by over 1450+ witness servers. (decentralized) It would probably take a global power outage to bring this down.
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If STEEMIT the web page fails just go to https://busy.org/ and post same thing as here just different layout. I started my Powerdown 7 weeks ago
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I have a busy account.
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I am so glad that Steem is not at all like Tsu! I'm in for the long haul!
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I am, and I WAS in it for the long haul, I've stated categorically from the top post on down, I do
NOT WANT TO LEAVE STEEMIT, but I also don't want to walk away from $4,000 in my bank
And have it go bye bye like my money in tsu did.
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I guess I figure if the value drops to .10 cents tomorrow I am not out a darn thing, except for the time I have spent on line. I have invested nothing, except a few photos that I would have taken anyway! And if in 2 years my account is worth 10x as much, I sure would be kicking myself for bailing now. I do not see anyone who has WAY more in their wallets that I do worrying. And from everything I read, from the people who know far more about crypto than I do, Steem has the potential to be very valuable. It does not compare to Tsu..
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Which, btw @melinda010100, my account value has been steadily dropping, despite my
adding to it every time I get a little bit in the bank.
Last week I was almost up to $5,000, now it is below $3,900 (I just checked)
I know, fluctuations in the market.
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AFAIK, If you are really decided, then you may want to power down your steem power. It will be divided into 13 and will be given out every week for 13 weeks. Once you coverted it to SBD, you may sell it using blocktrades or bittrex for bitcoin. Then you may transfer them to your bitcoin wallet.
I hope that helps but please give some more thoughts about it. As they have warned about how fluctuations of cryptocurrencies go, this might just be one of those episodes and shall pass too.
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Thanks @beatenegg,
So if Steemit folds during that 13 week period where I'm getting $58.23 a week, everything I have that hasn't been returned to me will also disappear.
Shades of Tsu all over again.
From what I've heard, these current 'irregularities' have nothing whatsoever to do with the flucutations
in cryptocurrencies. It is something to do with the way that steemit(which is a website in the normal internet way of things) interacts with the blockchain.
The blockchain may persist forever, but the money I've been awarded for posting may not, or at least
My access to said monies.
As I said, I don't want to take it all out, I don't want to leave steemit.
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Point taken. That's one thing scary about it too. But that's what witnesses are delegated for. They have the power to sustain steemit community (and this website for that matter). It is really scary if you did invest real money like exchanging USD to Steem. But let's say for me, my steem and SBD came from my own contents without shelling out real money, (not much but they are still of value) then I won't feel like losing much. After all, if it is your passion to write then it is rewarding to have been recognized here.
Or I may be wrong. Just my 2 cents.
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That's a nice post!
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