Well, I wasn't SURE about it myself - but I thought I saw someplace that it said 13 weeks to power down - you get 1/13th of your Steem Power turned back into STEEM, each week. Then you have to convert to BTC or some other exchange in order to move it back into FIAT. But, who wants that worthless paper stuff, anyhow? I know - we need it to pay our bills, at least for now. That might change at some point in the future, very soon, though.
The other day, I saw that McDonald's was going to be setting up some way for people to pay for food using BTC. IDK why anyone would trade BTC for McDonald's food, but... I take that as a sign of how cryptos are going to be edging out the banks in the future, when it comes to ways to pay bills, and do all kinds of money transactions. Blockchain technology is going to be a real bank-killing machine. No more overdraft fees & banking fees, which will end up helping a lot of people keep a lot of money in their own pockets - which is where it belongs. Banks are criminal, IMHO, but don't let me get off on that tangent... STEEM ON!!!
Haha great write up Mark!
I didn't even know that power down used to be longer than 13 weeks. You bring up great points. I don't think crypto is ready to be adopted into mainstream yet, currencies are still too volatile and have a lot of work to do before they follow through with their promises.. Some will be able to do that, especially the top 100 coinmarketcap companies.. However many will vanish with time.
I'm excited to see the day where they stabilize and get integrated into the market.
But for now, it would not make sense to pay a different BTC price every day for a burger, lol. However if BTC stabilizes, people will be more accepting to invest into it and actually use it in their transactions.
Just my 2 cents! Have a great weekend buddy :) This contest has been a success thanks to you.