4 Week Power Down: My Feedback

in hive-174578 •  5 months ago 

One of the most popular proposals from users and that has caught the attention of Steem staff is the reduction of Powerdown times from 13 weeks (current limit) to only 4 weeks.


For those not only aware, the Powerdown is the procedure that releases the Steems connected to the SteemPower in liquid Steems, immediately exchange them on exchanges or sendable to any user or platform that supports the cryptocurrency.

Currently, it takes 13 weeks to convert all SPs accumulated into liquid Steems. So every week 1/13 of your SP will be converted. With the upload of the new proposal, the time required for a Powerdown will drop to just 4 weeks, therefore every week 1/4 of your SP will be converted into liquid Steem.

What change will this new setting bring?

The fear that can arise in these cases is the speed with which a user can potentially liquidate his SP and sell everything on the exchange. Right observation but Steem is not a project born to cage people's money. An investor must be able to choose to make an investment but also to be able to sell when he wishes ... These are the rules of the market.

Rather, we must work to prevent a user or large investor from leaving the Steem community and above all to encourage new investors to enter and invest in our blockchain!

Unfortunately I am not a great investor but I can understand that it is necessary to give more guarantees to those who spend a lot of money and expect an economic return. If I immediately invest 1 million euros, I cannot wait 13 weeks to sell my investment, thinking that in the meantime things could get worse. It is absolutely not encouraging. Investors' assessment of risk does not encourage capital gains.

In the financial market, it takes about 30 days to sell stocks. This tool is useful to avoid rising or falling peaks and to better control the market trend.

Finally, my thought is that this proposal will be a useful tool to encourage new investors and I am convinced that there, as I believe in Steem and Steemit, would never sell only 1 Steem, even if the Powerdown were to drop to 1 day! only!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order: