RE: Ask Me Anything Contest The Best Questions Win SBD - Dragging You Up With Me Week #6
Hey @d00k13,
Thanks for this AMA on your "Dragging you up with me" show. This is pretty friggin' awesome, and cheers to the sponsor, @partiko (which I FINALLY understand now... "paid article" lol).
My question is this:
If you're a Steemian, here for the long haul, is it ever advisable to "power down" your vested STEEM (SP) to obtain 'liquid' STEEM, and why? I see several accounts 'powering down', all the time... but I don't know why, except to just receive the liquid STEEM.
Why do I ask this? lol
The gambler in me wants to purchase @steemmonster booster packs, but I don't have the liquid STEEM/SBD to fund my 'habit'. BUT, I've often considered powering down and buying booster packs in the hopes of getting awesome (aka Gold Foil) cards.
On a side note, I recall being informed that vesting STEEM while the USD value of STEEM is low, is very good if/when the price of STEEM climbs. This way, your account carries more 'power'... based on this, whenever possible, I vest my liquid STEEM!
Thanks for your time, @d00k13!
Cheers,
OFI
Posted using Partiko Android
Well personally I have never powered down, have no plan to so I would say no! I wish to continue to add value behind my curation and development of networking through interaction and votes.
Those accounts powering down must have a large amount of power already thus generate a large reward, after a certain point of investment powering down can be sustainable while using those rewards for projects. I hope to get to that point with the @OneLoveDTube account but currently it’s still only a small amount of reward thus I continue to power up everything unless absolutely necessary such as funding our IPFS Node.
As for using it to invest into SteemMonsters booster packs, that is actually a good idea IMO but remember it takes 7 weeks to power down completely. I know I feel the same about taking the gamble on cards, one lucky draw could pay for everything plus profit and it adds to the Steemit community rather then taking it out for say server hosting.
Now for vesting on low price vs high I’m not certain that makes a difference unless your making a purchase, low price higher coin count. If you have SBD on the other hand which should be pegged to a dollar exchanging for Steem while price is low will relate to a higher coin count in Steem when price goes up but I tend to stay away from playing the market myself. I use SBD for votes gaining visibility at usually a profit plus 50% comes back as SP, power up at a profit I call it!
Possibly people could be powering down to play the market or use the liquid Steem for votes? It would just return as profit to their account from votes and then continue the cycle all over again!
Thanks for the AMA idea man, I would most likely not have embraced the AMA theme had you not started off with the question you did! Your still the inspiration behind it and I am glad you have participated again for this one, another good question!
Posted using Partiko iOS
Hey @d00k13,
Thanks for your thoughts and analysis on my question. I think you covered all the possible points for why it may be worth, or not worth, doing this.
Also, this makes perfect sense to me:
Very good point, and I can see how the cycle works here. Bigger funds, bigger cycle incentive!
Cheers man,
