Since the last hard-fork, Steem blockchain lowered the power-down period from 13 to 4 weeks. We like to discuss this topic and love to hear your opinion.
Steem Power Down 7 Days.
We had a 13-week power-down, but in these times of fast and easy, 13 weeks is absolutely horrible. So 4 is a step in the right direction, but it can be even better.
Benefits of 1-week power-down.
- It will attract investors who are looking for a high yield asset. STEEM can be attractive to those who want to get a high APR on their token investments.
- I think it incentivizes users to power up their earned rewards entirely
- It can absolutely have a positive impact on the price of the token (see all Defi projects like Just Defi $JUST)
- With all the lending options available and more importantly those to come, I see some huge potential in lending STEEM and use another crypto as collateral.
Let's make STEEM sexy again.
- If your account gets hacked you got nearly no option to recover. Therefore you should not store your master password online or on your computer. Same as your keys for your Ledger or any other vault that stores keys, keep it offline and encrypted. In case you see an odd power-down that you didn't initiate you can immediately change all the keys.
- When fud is in the building, a mass sell of can occurs. To me, this is a great opportunity to scoop up some cheap STEEM of the market.