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RE: Dear Top 20 Steem Witnesses, Why are you powering down ?

in #dtube • 5 years ago (edited)

This post is a bit misleading!

First of all, I can only speak for myself, but the amount of STEEM I've powered down, vs what I've earned is extremely small.

I've recently started to powerdown roughly what I make as a witness (30k /13 weeks => 2500 per week).

Mostly, because I don't want to be in a situation where the STEEM price is so low, that I have problems keeping up with server-costs, but also because waiting for a good time to sell is a bad strategy and creating a habit of selling or at least having it as liquid form is important, as the earned SP isn't directly an investment, they're income from real work and should be treated as such. (my PoV)

With this said; I don't think it's good to shame people for powering down.

All Steempower that is given out to people, especially to witnesses as they come with real costs, should be expected to be sold sooner or later.

My guess is that you're worrying whether or not witnesses are selling because of TRON news.

Well, I'm not!

But again: the selling of STEEM inflation should be expected. This includes author rewards, curation rewards, witness rewards etc.

You would expect Bitcoin miners to sell their mining rewards to keep up with costs, right? Some might only sell part of it to cover the costs and keep the rest as investment & speculation. But the halvening of Bitcoin is so anticipated, because miners selling rewards is also calculated into the price and those rewards being cut in half, was historically a good thing for the price.

5 years ago in #dtube by
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     5 years ago  

    I posted the question is not to mislead anyone nor to shame anyone, it's just to ask a very direct question which you've explained clearly and I'm sure the community appreciates the reply.

    Thanks for your continued support for this blockchain and I guess a lot of people here don't really know what really happens behind the scene and the costs incurred as a top witness. I feel that witnesses are sometimes taken for granted as some are unaware on how much time and effort are put in to keep the chain stable and functional. Cheers and thanks for your reply.

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     5 years ago  

    Thank you very much for your detailed response. I actually learnt from this part of your submission:

    but also because waiting for a good time to sell is a bad strategy and creating a habit of selling or at least having it as liquid form is important, as the earned SP isn't directly an investment, they're income from real work and should be treated as such. (my PoV)

    I think as those representing us, having to hear such explanations as this soothes a lot.

    Posted via Steemleo

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     5 years ago  

    but also because waiting for a good time to sell is a bad strategy and creating a habit of selling or at least having it as liquid form is important, as the earned SP isn't directly an investment, they're income from real work and should be treated as such.

    Well said! Thanks for this. People are made to feel like pariahs for selling a bit of Steem and not hodling all.

    This year, by hook of by crook I am determined to give Steem some real use and earn enough to buy a couple of beers and a very modest meal out for the wife each week.

    Please consider writing a full post on the subject!

    Best wishes.

    Posted using Partiko Android

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