Estimated Value in your Steemit Wallet is just an ESTIMATE
Just a quick note, as I recently had an interaction with someone on Bitcointalk about this.
The Estimated value in your Steemit wallet is an ESTIMATE. The estimated value of your STEEM Power is based on an average price of STEEM over 7 days. Therefore the estimate may not tally with the current market price of STEEM.
The actual value of your STEEM Power will be determined by the price of STEEM whenever you choose to power down/ sell it.
If you power down, you do not receive all your STEEM at once. You receive it in weekly installments over two years.
- So for example if you had 104 STEEM Power in your wallet and powered down, you'll receive 1 STEEM per week for the next two years. The price you can sell that 1 STEEM at will depend on the price of STEEM at the time you sell it. So this can fluctuate.
(Remember also that powering down your STEEM Power reduces your vote weighing and influence on the site, so be sure it's something you wish to do)
I appreciate that many of you know this. However there are a lot new people attracted to Steemit in the last week (welcome all!) and next week's Estimated value may get confusing given the recent sudden spike in the price of STEEM.
NB - if you have any questions just post it or ask on the slack channel: https://steem.slack.com. There are a lot of people around ready to help.
Happy Steeming!
This is a great answer. Thank you.
I tried joining the Slack channel but I need permission and there is no link for that.
You're welcome, try steemit.chat - that is the slack equivalent for steemit.
Thanks 🙏 😎
If you own a mac and want to know the value of your steem holdings LIVE, check out my tool here: https://github.com/ZachC16/steemticker-osx
Here is the announcement post:
https://steemit.com/steem-project/@zcgolf16/project-announcement-steemticker-osx-a-simple-steem-price-ticker-for-osx-toolbar
And here is the latest update:
https://steemit.com/steem-project/@zcgolf16/steemticker-osx-a-simple-steem-price-ticker-for-osx-toolbar-version-14-change-log-major-changes
I am new in steemit and I've been looking for an answer about estimated value. Thanks to you this post has clear all the cloud inside my head about this issue.
thank you
Great post! I'm not a newbie but I really liked the way you described it, It was easy to understand.
thanks this is really helpful
Hey Do you know what the interest rate you get for steam power?
I didn't know that was how it worked. I really appreciate posts like this explaining all the exact details of how everything works. Thanks man!
Thank you for the great post.
So for example if you had 104 STEEM Power in your wallet and powered down, you'll receive 1 STEEM per week for the next two years. The price you can sell that 1 STEEM at will depend on the price of STEEM at the time you sell it. So this can fluctuate.
This seems completely false. From whitepaper:
So minimum ratio is 1:1 as you say, but can arrive up to 9:1 over time, even if I'm not sure according to what timing.
Yes they will in reality have more STEEM as they would have earned interest. I was keeping my example simple, which is what most newbie sorely need at present.
I agree
So should I even check? I have no interest in powering down so....