According to my post on Scorum where I asked about the options to convert staked and liquid SCR, the way is as follows:
- power down takes 52 weeks,
- you can sell SCR on Hotbit exchange*
Let's check how much is one SCR worth on Hotbit right now.
It's around $ 0.01 and the only available trading pair is SCR/ETH.
So, my huge stash of SCR, staked SP included, is worth a whopping sum of roughly $ 60, fees excluded.
Is it worth the bother?
Eh, I'll do it anyway. Let's call it cleaning the house.
First, I'll send all the liquid SCR over to Hotbit*
How quickly will it arrive? ... waiting ... It's here, good!
Can I trade such a tiny amount? Let's check it out.
Apparently, I can. Suddenly I am 0.00082226 ETH richer. Hooray. Yet, when I recall what the transfer fee with ETH is ... No problem, eventually I'll sell it for BTC.
After this test was successful I can start the SP power down.
In a week I'll liberate 113.977 SCR and sell it to ETH. And so on for a year. Do you think they'll change the power down period? I don't think so.
For those with the memory of an elephant. Yes, Steem's original power-down period was 52 weeks.
This article is a sidechain to my Summit 3300 series. Scorum will appear in it as a separate channel. I might do it tomorrow.
Links marked with * are affiliate links. If you use one of them to join an offering we can both gain. Again, the decision is yours. Yet, you can trust me that I only promote what I use.
Better and better
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