RE: The first phase of the Steem FAQ and Wikee: Consolidation of Knowledge by paa

Viewing a response to: @ned/the-first-phase-of-the-steem-faq-and-wikee-consolidation-of-knowledge

steem · @paa · Aug 18 '16

$0.91

While i´m powering down, what happens in between these 2 years.  

First Question: Do i get all the Steem Power at once or on a weekly base?  

My Second Question is related to the first: 
If its payed out at once, do i still can use the Steem Power to vote, while im powering down?

👍 ned, bue, yng-entrepreneur, bue-witness, boy, mini, daniel.pan, bunny, healthcare, helen.tan, moon, paa

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@alexgr · Aug 19 '16

$0.93

1) The money are given in 104 weeks and you get 1/104th every week, after the powerdown.
2) It is not payed out at once but while you are getting the 1/104th every week you can still increase the SP. It's actually possible to be both cashing out and increasing your SP if you are making SP from votes and interest.

👍 ned, bue, alexgr, bue-witness, boy, mini, cybercodetwins, daniel.pan, bunny, healthcare, helen.tan, moon

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@proskynneo · Aug 19 '16

There is no interest on SP. It is a common misconception. But your SP does "increase". This might be a good question to ask...

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@alexgr · Aug 19 '16

I've been googling the semantics over the word "interest" and it is more commonly associated with lending and borrowing (or deposits). Thing is, there is a "growth" but I don't know any other word that closely approximates this concept other than interest. It is definitely not ROI since dilution is running faster... I don't know what else to call it.

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2 replies

@beanz · Aug 19 '16

Another question.
A genuine one I can't answer.
### If by powering down I am paid a weekly payment of 1/104th of my SP, could this payment increase each week as my SP is rising, or is this only based on how much SP I had at the time that I chose to 'Power Down'?

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@alexgr · Aug 19 '16

It is based on the amount of SP you chose to power down. Your SP holdings could keep increasing though despite the power down - although the 1/104th payment will be the same. 

You can initiate a new power down at any time (at which point the 1/104th slice is recalculated based on the SP amount you hold at the time when you click the button). So in this way you can increase the SP amount withdrawn (if in the meantime your SP is growing faster than your withdrawal rate).

👍 jcweiss, beanz

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1 reply

@alexgr · Aug 19 '16

>So, yes or no, 104 weeks after a full power down and earning no SP rewards, will my SP balance be 0?

Even if you get no rewards, the balance is still going upwards due to the programmed growth. So the answer is no.

If you have 1000SP to withdraw, and you get no curation or author rewards, you'll get the 1000 out in 104 parts, but when you have finally pulled out the 1000, there will be more in your account from the "interest" of the initial 1000.

👍 beanz, jcweiss

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@ned · Aug 20 '16 (edited)

While powering down the network has calculated your Vests, which are a stable measure of Steem supply.  The network will transfer 1/104 of your Steem Power (Calculated as Vests) to Steem each week.

The action occurs on a weekly basis.

One can continue to curate and earn curation rewards while powering down.

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