The Steem Power in your wallet is called VESTs behind the scenes. That number doesn't change unless you receive rewards from posting, commenting, voting, or powering up/down. The change in number that you see is a reflection of the change in the conversion rate between VESTs and STEEM.
You are viewing a single comment's thread from:
I don't get this: "The change in number that you see is a reflection of the change in the conversion rate between VESTs and STEEM"
And you didn't answer on other questions, can you be more specific and give an example?
There is no such thing as Steem Power (SP) in the back end. When you power up, your STEEM is converted to VESTs. When you power down, your VESTs are converted back into STEEM. The conversion rate changes over time, though... so that balance appears to be growing. It's showing you how much STEEM your VESTs are worth.
The reverse stock split shouldn't have any meaningful impact on the value of the STEEM you hold. if you have 23,984.236 STEEM when the reverse split occurs, your balance will become 2,298.423 STEEM. But each STEEM will be worth ten times as much.. so you'll lose 0.006 STEEM of value. Basically a rounding error.
Now its pure clean for me! thank u dude! upvoted
@bacchist: so once you down down, the amt of steem power will convert back to steem in a period of 2 yrs? Am i right on that?
Yeah, and it will be done by giving you 104 equal fractions of your VEST balance. But as the conversion rate between VESTs and STEEM will go up over time, the same number of VESTs will be worth more STEEM... so the payments will seem larger over time (more STEEM).
@bacchist: Thx for the clarification :)