Helping beginners about steemit

Understanding Steemit For Beginners (Fundamentals of Economics)

not easy to understand all the concepts Steemit because the economic fundamentals are quite different to the other cryptocurrency. Read the whitepaper documents as thick as 44 pages Steemit which is also quite real headache especially if impatient. The purpose of writing this article to share my understanding of Steemit. It should be understood that I also recently began to study and not a Steemit experts, if there is something wrong, I would be happy again if you want to help correct it by commenting below this article.

Steem & Steem Power & Steem Dollar
To understand the fundamental concepts Steemit economy, we need to understand the function of three values.

Steem
Steem is the value of the unit which can directly buy in the exchanger as Bittrex, and should be known that it does not function like Bitcoin where he was kept as an asset because every year the value of total supply Steem increased 100%.
How to Supply Steam created?

The answer is of Proof of Work when solving a block. Steem can be mined like windos channeled through some OS, Linux, Ubuntu and mining strength is determined by your processor and not the GPU like Ethereum. So Steemit Network starting from 0 supply and based on what is written on whitepapernya: there are approximately 800 new steem created every minute.

Steem Power
Steem Power is a unit value of which can be in conversations from Steem. For your conversations back from Steem Power to Steem takes 2 years, slowly starting to as much as 104 times the payment. Why 104 times payment ?? because your mouth power steem steem konversasikan to be paid every week .. in one year there are 52 weeks of the second year is equivalent to 104 weeks. This process is called as "Power Down"
Having Steem Power benefits are we going to get every time Steem New Steem created, the meaning is the conversations Steem to SteemPower ... we are guaranteed to get the quantity Steem (in the form of Steem Power) that it more as time goes than ente save Steem.

Example:
I have 104 Steem Power. then I click on "PowerDown". So what will happen ?? is that every week I would get at least 1 Steem and more in the weeks onwards. Steem I got gradually can I save, transfer, or exchange traded back to SteemPower.

If in the first week I could 1 Steem. means that there was still some 103 Steem Power again anticipant For thawed. Well ... 103 Steem Power is still a "Interest" of each new creation Steem 1, so the value is still increasing as time passed, from week to week.