Steemit Crypto Academy Contest / S10W5 -: Getting to know Mvest
Investing on our Steempower is very good because it will give us enough power and influence in steemit.
The week's topic, getting to know Mvest is very interesting because I had wondered what it meant before and thanks to the contest I get to learn it.
Let me go straight to the questions..
What is Mvest?
When delegating our steem oower using Steemworld, we often see the box that says, ' Amount (Vests)' after we put the amount of SP we want to delegate.
Screenshot from my steemworld page
According to the FAQ of steemit, Mvest is the unit of measurement for SP.
One Mvest = 1 million vests.
Our SP gives us vests. When powering up, the operation is called transferring steem to vesting. For a mere user, the vest are calculated and presented as SP for the user's convenience. But for Blockchain level, it is saved as vesting shares.
The vesting shares allows us power to perform Blockchain activities. Vests are what determine our voting power on steemit.
Without Vest, a user cannot perform activities on steemit, and he is unable to take any decision, just as in a real world company where shareholders share in decision making.
So when we invest more on our SP, we have more vests and we have higher influence on steemit.
What is the relationship between Mvest and Steem?
It is the amount of SP that determines a person's vest. So the relationship between Steem and Mvest is that, we transfer steem to vesting through a process we know as power up. The power up is done in our steemit wallet, which is like a power house, because it houses the SP which determines the vest we have.
So by powering up our steem, or buying steem with our fiat from an exchange platform, to power it up, we are investing in steem. Thereby increasing our vests.
Liquid steem can be earned by writing posts or comments. And this liquid steem is further converted or transfered to vesting through power up.
How many Mvest does your account have? Show screenshot
Screenshot from this tool
My account @madilyn02 currently has 701 SP and 1228553.60 vest.
To get the approximate value in vests for 1 Steem, I divide 1228553.60 (my account vest) between 701 (my current SP).
Therefore: 1 Steem ~ 1752.57 Vests.
Assuming that your account has 35,000.00 Steem Power, how many Mvest is it equal to?
Since we already have the calculation for 1 Steem to vest. We are going to do a simple multiplication for 35,000.00 SP.
So 1752.57 × 35,000.00 = 61,339,950
Therefore: 35000.00 Sp ~ 61,339,950 Vests
It has been an interesting contest to participate in. I enjoying gaining a fresh knowledge today. Thanks to @alejos7ven for the support in understanding the subject. I invite him and the following:
To participate in the contest, and the link is found below:
(ENG/ESP)Steemit Crypto Academy Contest / S10W5 -: Getting to know Mvest || Conociendo Mvest
Thank you for demonstrating your ability to understand Mvest. It shows that you have the desire to keep learning. You have written so well about the topic under consideration. Success in your entry
You are right it is an interesting contest.
It is the first time that I see Steemians writing about this topic and I enjoy it.
Thank you for also inviting me.
This is my favorite part, the comparison.
Good luck with the contest.
Thank you so much for your support and good wishes. ❤️
You are welcome! 🎕
Great explanation! I am proud of you❤️
Thank you so much for your help 😊
TEAM 4
Congratulations! Your post has been upvoted through steemcurator07. Good post here should be..Thank you @wilmer1988
Eres muy inteligente cariño 😍 felicitaciones por tu participación en este gran reto, los has hecho de una forma sencilla y fácil de comprender y es aquí donde aplicamos el dicho de que menos es más, no hace falta escribir tanto si así como lo has hecho se entiende muy bien .
Estoy orgullosa de ti 💓💓
Thank you so much. 😍😍. It is to Jehovah that I give the praise.
Thank you for your kind words always!
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
The concept you explain about the amount of Steem Power (SP) that determines one's " vest " is an Interesting analogy. In the context of Steemit, gaining Steem Power through the power up process allows one To have more influence and power within the platform.Thank you for the explanation, and I hope you will continue To be successful In contributing and working in Steemit.
good luck
Thank you so much for your support, I appreciate
Wow great! your content is outstanding.
You have greatly discussed the idea about vests. Power UP means transferring steem tokens to vests which increases our influence on steemit platform.
Yes because we are unable to take part in contests until we are not subscribed to a #club. Transferring steem to SP we increase our influence and also buy stake of Mvest.
Your SP is wonderful so thus your influence will be also much more on steemit. May your grows much more in future.
Your calculation about 35000 SP into Mvest is also precise.
Best of luck for the contest friend
Hi, you really took your time to examine my content. Thank you so much. Have a great day!
You are Right but Powering up Steem or buying it to increase one's SP and vests is a way to invest in the Steem ecosystem.