Community post
Powering Up Powering Down
I don't completly understand how the powering down and powering up concept works. Does anyone have a better understanding and is willing to explain it in the comments below? I'll be sure to upvote and share for those who are in the same boat as me!
Replies (3)
The mechanics are a bit complicated, but here are the basics.
By powering up, you increase your 'voting power'. This means that your votes will be worth more , than a person who doesn't have a lot of Steem power.
In return for that, you can't freely transfer your Steem anymore. You still own the coins. But their is a 'cooldown' process required, to make your accessible again. Which we know as powering down.
Is it possible to power down until I have 0 influence?
From my understanding, it's possible. But you will render you account useless. Because most actions on the Steem block-chain require some amount of Steem.