Wait.....So STEEM Has A 4 Week Power Down And HIVE Is Still 13 Weeks?

in LeoFinance10 days ago

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Maybe all this happened when all the drama went down with STEEM and HIVE and I didn't realize it. I knew Justin Sun adjusted the power down but I didn't know what was permanent.

So am I correct in saying that the STEEM Powerdown is 4 Weeks compared to HIVE being 13 weeks still?

How long is the LeoFinance Power Down?

Posted Using LeoFinance Beta

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That’s interesting! What’s the pros and cons?!

Have a nice day!

Well a person wouldn't have to lock their money up for as long on STEEM.

Posted Using LeoFinance Beta

LEO's power down time is 4 weeks in 1/4 chunks.

HIVE will likely move to the same model at some point. It doesn't make much sense to have 13 week lockups in an industry where a week might as well be 1 year.

Posted Using LeoFinance

Yeah I agree. On a lot of the DeFi stuff things are moving so fast and you can unstake immediately. People don't want to be waiting around. Power down cycle of 13 weeks is certainly dangerous. It keeps people away. Personally I like what the new DTube did where you can get out right away if you want.

STEEM is looking very pumpy with the way the STEEM Backed Dollar has went parabolic. It will likely pull STEEM up as well. It is hard to know what to do at this point.

Personally I think that Leo Finance is the most interesting thing regarding HIVE. The new DTUBE on the Avalon chain is interesting. STEEM is sort of interesting and we are earning some TRON out there as well. HIVE itself honestly gets me triggered. Thinking about EOS and Block One get me triggered as well unfortunately. I have to think about Dogecoin memes to calm myself down.

Posted Using LeoFinance Beta

HIVE should really move to shorter power down as soon as possible.

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I suspect the 4 week power down is helping STEEM and LEO over HIVE.

Speed is everything in crypto.

I would go for the model, I think it is TheyCallMeDan that supports it, of an additional instant power down option in return for say a 10% burn penalty.

That would give a double bonus boost to the HIVE economy I believe - more attractive to investors and a good bit of burning.

The security angle on the instant power down option can be dealt with by pre-approval of accounts, and maybe 2FA as well.

Posted Using LeoFinance Beta

Yeah I think it is helping STEEM and LEO for sure. Personally I like what DTube has done where it is just liquid. The only thing I would say is from the security aspect but I feel like if there is something where people can put in an e-mail to be notified that a power down has been started or something. But at the end of the day most people are not even using multi sig for significant amount of crypto on software wallets. Even 3 days to unstake is annoying to a lot of people.

With these DeFi apps you can unstake and take the crypto to some other project.

The thing that I don't like about the 10% burn penalty is then it becomes like HEX where there are all kinds of pitfalls and to people it feels like it is setting them up to fail kind of like banks always charging BS fees.

People just don't want any of that.

I'm thinking about buying a bunch of STEEM and powering half of it up and then converting my liquid HIVE to LEO and powering that up for the time being. Do you know when the airdrop is supposed to be for LeoFi or at least when the snapshot will be taken ?