RE: Should I Power Down? - Early Morning Steem Thoughts by Charlie Shrem by luminousvisions

Viewing a response to: @charlieshrem/should-i-power-down-early-morning-steem-thoughts-by-charlie-shrem

steem · @luminousvisions · Aug 28 '16 (edited)

$2.41

#### Steem Power is your long term investment, while the Steem Dollars are your income.

Take the $SD out, but leave the steem power ... that's a very simple, yet well balanced, smart and healthy approach ... there are a bunch of good reasons why the system has been set-up this way.

👍 xeroc, hedge-x, charlieshrem, steemdrive, the-ivor, thecryptodrive, joelkatz, luminousvisions, cryptomancer, pcste, cmtzco, theb0red1, jed78, krystle, holzmichl, richardjuckes, stephen-somers, happyphoenix, cybercodetwins, tradz, mrshade, rafikichi, wizwom, jasen.g1311, wildchild, jtstreetman, gracx, nano2nd

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@cryptomancer · Aug 28 '16

I agree with this approach.  At least until your holdings grow very large, leave your Steem powered up and treat Steem Dollars as your income from posting, to spend on expenses as you like.  With a large amount of SP, the interest earned from holding will be pretty nice.

It makes sense for big whales to power down, as they've got so much SP that powering down essentially gives them their income to live off or diversify into other investments.  If I had greater than 100,000 SP I would probably follow that approach and rely on curation rewards to re-invest back into the platform.  Curating is definitely a whale's game for now.

👍 luminousvisions, pcste

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@charlieshrem · Aug 28 '16

Agreed.

👍 tradz

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@virtashare · Aug 28 '16 (edited)

$1.25

@charlieshrem I came here with nothing, I am unemployed and even the small amount I have earned has allowed me to power up and live off of my SBD without powering down once. I guess to someone like me who has nothing, steemit has made a big change in my life so I fully believe in it and ask you to pleeeease hold don't power down. Steemit is a long term investment and currently my future. The little bit I have manged to earn so far is everything I have, I have earned it proudly and would like to ask you to act in the best interests of my future investment and please hold. :-) Thanks

👍 liondani, dana-edwards, oldtimer, rok-sivante, kommienezuspadt, jtstreetman, gracx

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@mexbit · Aug 28 '16

Steem Power is not actually interest... it is a mechanism so that holders can maintain their share of the total system.  If @dantheman would consider an internal market for vote delegation, the sale of those rshares as @arhag calls them would provide a passive income for Steem Power.

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@luminousvisions · Aug 29 '16 (edited)

sure, but I was basically talking to people who are actively posting and making small money, not those few whales

👍 reported, cnmtz

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@cryptomancer · Aug 28 '16

Yep, I figured that's who your comment was aimed at.  Just saying that it does indeed make sense for whales to have a different perspective and power down in order to make a living.  They can do that and still be a positive driving force in Steemit's development, the two activities are not contradictory.

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1 reply

@smooth · Aug 28 '16 (edited)

$0.09

Not only that but if whales do not power down, _the redistribution and flatter distribution of stake that everyone says they want_ can't possibly happen. Two sides of the same coin.

👍 fabio, cryptomancer, givemeyoursteem, drako

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@charlieshrem · Aug 28 '16

Thats an important point!

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@charlieshrem · Aug 28 '16 (edited)

$6.17

This seems like the best approach and the one I have been following. Also, Part of my post was to show that just because you power down, does not mean you dont believe in the platform.

👍 dantheman, hedge-x, blakemiles84, fabio, luminousvisions, theb0red1, tradz, haplous

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@luminousvisions · Aug 28 '16

sure, I basically summarized your post in 2 lines, that's all

👍 g-dubs

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