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RE: How much STEEM is being Powered Up & Down daily?
Interesting. However, it might look that money are leaving steemit platform, which is not the entire case. As I know 90% of the funds are distributed among the SP owners, but the fact than only 290000 is leaving per month is quite good.
The process is somewhat normal. The whales are cashing out some of their investments and minnows and dolphins like me are powering up. On average this process makes the Steem Power to be more equally distributed, which is good for the platform.
Wow didn't know that the SP owners held 90% of the funds. How can that be a good thing?
As I know inflation is 100%. 10% is distributed to content creators and 90% is distributed among steem power owners(is like an investment in the platform, but once you power up, you can power down in equally amounts split over 24 months ).
You have probably read the outdated whitepaper?
The inflation rate was changed to 9.5% 8 months ago: https://steemit.com/steem/@steemitblog/final-review-of-steem-economic-changes
75% of inflation goes to authors and curators
15% of inflation is allocated to Steem Power holders
10% goes to the witnesses.
Powering Down takes 13 weeks now.
I didn't know powering down takes that long! I should have read more carefully before powering up everything I have... but I plan to hold it longer than 13 weeks so that is fine with me
I just checked and it seems to be done in 7 days according to the info in the wallet?
Yes, that's right. It takes 13 periods of 1 week. After 1 week 1/13th of your SP is powered down.
Ok understood. Thanks for the clarification!
Thanks for clarifying this. I appreciate the work you do in presenting this kind of data.
Is that really the case ? I never saw that SP was distributed to me
This is what I know. I'm only 90% sure. :D
In around 1-2 hours I think I could see I gained 0.1 steem power. But I have almost 8500SP.
https://steemit.com/steemit/@marsresident/ann-steem-power-lasts-forever-90-interest-rate-104-week-power-down-guaranteed-growth
That post is from last year , a lot of things have changed since that , I ll note the amount of SP I have before I go sleeping today and check it again the next day ... but maybe my 32SP are to less to see any changes.
I took a look at Power Ups vs Steemit price change and it gives a pretty clear picture. When Steemit price goes up, people Power Up more. When it goes down, people Power Down more. Like markets in general, pure human Pavlovian psychology on a mass scale.
Don't forget that many may also just be selling Steem to speculate on buying it cheaper later. If its leaving the platform some of that might return as well.
Maybe, but not are the times to buy it cheaper. If you sell it now for 1 usd and buy it back in 1 month for 2 usd, you're making a really bad deal...
Interesting. This means that powering down refers to the amount of Steem leaving and vice versa for powering up.