I am very intrigued by the steemit platform and after some readings decided to purchase some steem power. One strange thing I noticed though is that I purchased around $400 worth of steem power but when I checked immediately in the wallet section, the "Estimated Value" of my steem power shows less than half the dollar value of what I purchased.
Can someone help me understand this better? Is this due to issues with the SP price estimation or price fluctuations or did I miss some fine print somewhere?
This is because the "estimated value" is always based on the price over an average of 7 days. Since STEEM only recently started shooting up in price, the current value is lagging a bit behind.
awesome, thank you for the explanation! How/where is steem power price estimated since its not really traded anywhere and requires a 2 year probation period to withdraw?
If you use the GUI(steemit) then 1 STEEMPOWER equals 1 STEEM for the calculations
Is 1 Steem Power really equal to 1 Steem, or does that rate change based on something?
If you are using the GUI wallet(steemit) then 1 STEEM POWER equals to 1 STEEM. Right now in your wallet you have 18,9 STEEM POWER that is equal to 18,9 STEEM. The CLI wallet is another story and I don't know exactly how the conversion is done.
If you created this account in STEEMIT and you recieved 10 free STEEM POWER you need to wait until your STEEM POWER is 5X or 10X more(can't remember the exact number) until you can power down.
I believe the valuation uses average price of the week - hence it is not fully accounting for the 250% rise that STEEM has had over the last few days. Check back in a few days to see if your estimated value increased.
Thanks! I asked the same question above to another commenter but figured I'd ask for your perspective as well - how/where is steem power price estimated since its not really traded anywhere and requires a 2 year probation period to withdraw?