Excellent guide, thank you for posting it.
Once you have mined a block and have a new account it shows 1 steam here on steamit. In the cli_wallet it shows 7700+ vests in the account. I tried the withdraw_vesting command, but that says it will power them down and takes time. Is there a way to just transfer the vests to steamit?
You are viewing a single comment's thread from:
Steemit displays your SteemPower, or VESTS as the cli_wallet calls them, as STEEM, the liquid currency that is tradeable. What it really means is what your SteemPower's current value in STEEM is, because it's not liquid as you found out. If you go to steemd.com you can see on the top of the right-hand box that steem_per_mvests = 129.229. 1 million divided by 129.229 equals 7,738. So that's where that VEST number comes from. https://steemd.com/@hickorysmoked shows your actual SteemPower/VESTS in million-units.
What should I do with it, do I need to move it or power it down to keep it without that wallet file?
The wallet file only keeps your keys imported so you can perform blockchain actions. The key(s) for your account(s) is/are what you need to keep safe and backed up.
What you do with your SteemPower is up to you but the more you have the more you'll get in curation rewards from upvoting good posts so that's a consideration. And so far you have ~1 STEEM worth of SP (soon to be 2 though since you entered the mining queue again!) so 1/104th divestment weekly wouldn't amount to much.
re: @hickorysmoked above
You don't need to move or transfer anything with the cli_wallet. It's safe in your account which is controlled by your key(s). The keys can be used to log in to Steemit.com and you may go from there.
I think I understand but the vesting ones do not show in the steemit wallet, so I don't quite understand how it will benefit me. I just wanted to make sure I wasn't supposed to move it\transfer it\withdraw it before turning off the miner.