Quote from: smooth on July 26, 2016, 08:07:53 AM

Quote from: iamnotback on July 26, 2016, 07:42:50 AM

Quote from: smooth on July 26, 2016, 04:03:20 AM

Quote from: iamnotback on July 26, 2016, 02:42:55 AM

Quote from: smooth on July 26, 2016, 02:37:26 AM

Quote from: iamnotback on July 26, 2016, 02:28:51 AM

They just see all those illiquid STEEM POWER valued in $$$$$$ (which is possible only because almost no one is cashing out and instead are powering up, except the probably the whales).

No, they don't really pay attention to the dollar value of Steem Power or think about cashing it out. Only crypto nerds think that way.

It is impossible they don't notice it. Subconsciously it is in their eurphoria.

Their subconscious has been trained to know money makes people happy.

Maybe when the amounts get big (successful bloggers, stars, other pros, etc.). The successful bloggers do want to promote their posts though, so they seem to often value moderate amounts of SP for its utility at least at market value, so even then I'm not sure until the amounts get quite large.

But if someone builds up a $100-200 from modest rewards on comments and posts, then they're going to take the liquid Steem Dollars as their reward and not be interesting cashing out $1-2/week from their Steem Power for the next two years. That's just not how people think. The SP is not what they see as the cash reward, the SD is.

Hehe, you were sleepy also. Hope readers understand that is what happens when we work too many consecutive hours. I did several 24 hour work sessions over the past week. Was necessary because the several guys who wrote the Steem whitepaper didn't bother to explain all the metrics to us. So we had to go figure this out from scratch, what they had been thinking about for many months or year or more.

Tangent out (not addressed to smooth), I'll know I am getting healthy when I can do longer marathon sessions than the younger guys (not there yet). I'm awake 18 hours now and just finished an intense 2 hour gym workout about 2 hours earlier. I'm sleepy right now, but I also feel ... I better not say...

smooth, I think you are trying to argue here that there won't be a lot of SP stored up to dump later?

That question doesn't even make sense to me.

Some users will want to exit later. If it is successful others will want to enter. I don't know which will be the stronger force over which timescale. If it isn't successful it will go to zero.

What point were you trying to make in text I had quoted?

I think I had made the point upthread that eventually those who have powered up, will eventually want to start cashing out their weekly amount. The illusion of printing money out of thin air is possible while most everyone of significance is powering up.

I agree if there is a lot of demand to enter Steem at that juncture, then the selling pressure can be absorbed. I think my point was there would be shift at some point in the future to more selling whereas right now we have apparently mostly powering up.

Once you've started the powering down, you aren't likely to revert because you'd reset the 104 week delay.