RE: Quick Question, Steemians - Estimated Account Value by shenanigator

Viewing a response to: @terrybrock/quick-question-steemians-estimated-account-value

steem · @shenanigator · Jun 10 '17

$0.08

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.

👍 alexanarcho, frankbacon, dennishlewis, rhoger, techmeme, seyj1231, producerbtw, armanco, breekoy, mirella, egodust, morgangreenman

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@frankbacon · Jun 10 '17

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.

👍 rhoger, aaronhawk

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@shenanigator · Jun 10 '17

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.

👍 frankbacon, rhoger, abir20129

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@terrybrock · Jun 10 '17

Thank you, shenanigator. Does that mean that we could take the estimated value to an exchange to get bitcoin?

👍 rhoger, stevemack

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@shenanigator · Jun 10 '17 (edited)

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.

👍 frankbacon, rhoger, producerbtw, adamlab, abir20129

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@terrybrock · Jun 10 '17

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!

👍 abir20129

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1 reply

@rhoger · Apr 19 '18

@shenanigator thanks for this rely. It has pumped quite some sense into my head.

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