I too would be powering down as long as the whales are powering down. This is the equivalent of Mark Z. selling his facebook shares a month after launching the platform... Regarding @blakemiles84 comment, I think the 104 week power down time actually DISCOURAGES people from holding steem power when it was intender to TRICK people into locking up their funds. Now the cat is out of the bag and people want access... I honestly think if SteemPower would be semi-liquid, meaning it would take a week or two to cash out then this would actually encourage people to hold steempower or invest in the platform because they feel they still have access to the funds. Having a big number written in your account on a website is nice but if you can't access the money in the near future what's the purpose ? Giving people access to the funds will give MORE CONFIDENCE in SteemPower :-)
well read your post and i have to say I am forced to agree with you !! I invested 6000 dollars ( 10 BTC ) in August, got 2853 Steem Power. Thought i,d done well as the price had dropped a little from earlier levels ! I decided to hold all of my investment as Steem Power as it seemed clear to me this was the long haul option as i believed it gave a good signal to others wanting maybe to invest here too. I did not intend ever to power down and hoped to make it rise still higher by curation and author rewards, I mean why would you invest in something to pull it out immdedeately just days afterwards. But it seems clear to me know that the founders of this site have done just that, without really my knowledge !! So now my Steem power has bumped up to just 3200........ no success as i hoped with postings and now Steem is down to less than a dollar, so powering down means just to throw in the towel on all of my hopes l and accepting a 50 percent loss at least in my investment !! But even then as you say this drip feed return over 2 years is not even guaranteed as will indeed this site exist by then?? Big question. I feel like we have all been abandoned and used ! I hope that i am wrong, but sure don,t look like it now eh?? As i write this i have a very sick feeling in my stomach as i know to say such things here visibly does not help my position or even the community of this site as a whole. Was never my plan or desire to express worry or disappointment here believe you me. Would appreciate your feedback on this post !! regards a once Hero of Steem !!
I too was very surprised that the devs liquidated/powered down so quickly... I thought they would believe in the project taking off and really be worth in the billions... but it seems that even a 10 mil. valuation is enough to sell...
it seems the very people who should be not powering down are, while us that dont want to as we want this project to work and have collateral to work with just feed their power downs with our money !! If i power down now i will maybe get less than half of the money put in. Even then who can guarantee that my 24 months of payment will come as it seems if this bleeding of funds continues this thing will just fold !! So tell me what impetus for new comers to invest here when they see this strange behavior and posts like mine being visible. I really hate expressing these doubts here as i know it is counter productive to the image of this community, but frankly this feels bad right now !! I just want to see them believe like me in their own project !!
It appears that way. If revenue generated by this platform is a portion of their livlihood, it doesn't serve them to bail. There are many reasons why someone would power down don't you think? Those reasons certainly vary with status. For example, I might power down because I need money for cereal. Ned might do the same. Ned might power down because he intends to use the capital to recruit outside devs to grow Steemit.com, but I would never power down for that reason because I don't have that responsibility. I view the fact that any can power down at all on such an experimental platform as a resounding success.