Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: set1 by @papi.mati

(1) What is PoB? What does curation mean to you in Steem Blockchain? What are the benefits of building SP? How do you explain self-upvote as a good or bad social behavior & why? Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)? What are the different tokens do you earn by socializing in Steem Blockchain?

_{Photo made with Canva}

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What is PoB?

PoB stands for "Proof-of-Brain". It's a way of distributing rewards on Steemit and other platforms based on steem technology (like Hive).

Let's explain money distribution on steemit from the very beginning:

1️⃣ The witnesses (there is 20 of them + one backup witness) are mining the Block rewards

2️⃣ New tokens are distributed:

• 10% goes to the miners (witnesses) as the salary for their hard work
• 15% goes to SP holders
• 10% is spent for the platform improvements (Steem proposal system)
• 65% goes to the active users of steemit.com and exactly that 65% use PoB as the way to distribute the money.

3️⃣ PoB rewards us for:

• publishing good quality content, in hope it might bring new users and investors to the platform, promote steemit and make it more attractive for everyone
• curating other's publications, to motivate users to help in selection of the best quality posts and in distributing the money between the community participants
• interacting with others (directly for commenting)

PoB plan assume that users who invest in platform has more power in distributing and redistributing the money. In the simplest words, person with 10 000 SP has their Up-vote worth more than person with 100 SP. I will describe that better in "what are the benefits of building SP?" chapter.

Everyone can decide which publication should be rewarded and up-vote it or which publication doesn't deserve so much money and down-vote it to redistribute part of the income. Up-votes and down-votes are summarizing for the first 7 days from the publication and then the "salary" in SBD and SP is transfered to the account of the author (if the author didn't deny the withdraw or set 100% SP option).

What does curation mean to you in Steem Blockchain?

The proper curation requires to make several actions:

• reading and selecting the best quality content
• rewarding with the up-votes the content which we like and which we believe is worth to be noticed by others. If you have over 500 SP you can decide if the publication deserves 100% of your Up-vote or if you want to vote it with lowered percent of your SP
• down-voting the content which we think shouldn't get such a high reward (I personally don't down-vote others posts, except of spam, but it is the option available to everyone and it's up to you if you want to use it or not)
• commenting others posts, resteeming some of the publications, so basically interacting in every possible way
• flagging content which is against the rules. It might be spam, illegal or offensive content (with understanding that we all are from very different cultures and some things which might be offensive for me, are not offensive for others), finally plagiarism
• fighting with plagiarism not only by flagging but also reporting it in Mosquito squishers community. Plagiarized can be text quoted without the source or photography on copyright licence or even CC BY licence without the source

What are the benefits of building SP?

The benefits could be grouped in two categories: personal, for the user who decides to invest in SP and common, for the platform and community as a whole. I will describe them, but at first, let me write them all down in two short lists.

Personal benefits include:

• bigger rewards for curating
• bigger rewards for holding SP
• bigger rewards in TRX
• bigger chance you will get up-voted by the others
• bigger influence

Platform and community benefits include:

• higher price for SBD and Steem
• decentralization of the platform
• making steemit more attractive for the new users

Bigger rewards for curating:

Like I mentioned before, users with higher SP have their up-voted worth more (you can actually check the worth of your up-votes on Steemworld. That page allows you also to check what would your vote be worth of you would have higher SP).
I didn't mention yet that 50% of the money gained from the up-votes goes to the curators. If your vote is worth more, you can expect more money from the curation rewards. Explaining how exactly does it look like is the element of the other homework, so let me just mention that it depends on many things, most important are the time of voting and SP which we are talking about.

Bigger rewards for holding SP

10% of the newly generated tokens goes to the SP holders, but it's not everything: you can also delegate your Steem POWER to some community which you love and get some extra SP for that "loan". The amount depends on the community and delegated sum.

Bigger rewards in TRX

Maybe you have already noticed that Tron is rewarding Steemit users for your activity. It's happening since December 2020.
Every 1 SP used for the social activities on steemit gives us 1 TRX which can be later hold, sold or exchanged for more SP on some market. Obviously, having more SP, we are able to gain more TRX for our activities.

Bigger chance you will get up-votes from the others

Tags #powerupswinsvotes or #welovepowerups are getting more popular recently and when we up-vote our SP, we can easier get the attention of Steemcurators. It's very reasonable, people who invests in the platform are more likely supported.
The opposite situation is when you make power down and decide to change part of your SP into cash. I don't recommend you that until it's absolutely necessary, as it might negatively impact your future incomes and... It will exclude you from participating in some activities as few communities or contests bans the users who made power down.

Bigger influence

Having vote worth more your decision about rewarding others means much more. That way you might motivate people to write about some things which you are interested in and help users who you believe are worth being noticed grow fast. Besides up-voting users who writes interesting content, you can also delegate them some of your SP.

Higher price of SBD and STEEM

Imagine that all the mined tokens are instantly sold by the users. That would make SBD and STEEM worth much less as too many tokens on the market have negative impact on their price. By converting SBD to STEEM or buying it on the market and then changing into SP, you basically make the decision to invest in the platform. It makes the cryptocurrency more attractive for the future investors and it's price much higher.

Decentralizing the platform

Every time new user gains enough SP to become a Dolphin, orca or Whale, the number of people who have the actual power to let others earn the money grows. It's good when the platform is decentralized: not only because we shouldn't rely on the taste of small group of people but also because every person has limited possibilities to read and up-vote the content. Imagine that only ten people has enough SP to Up-vote for more than 5 dollars and there is over 1 million registered users. How many interesting publications wouldn't get any chance to be discovered? Now imagine that there is 100 000 users with the up-vote worth 5 dollars... Situation would be totally different, wouldn't it?

Making steemit more attractive to the new users

I explained it partially in the previous sentence. If the new user will not be noticed for a long time, they will probably leave the platform. If we will have many users with high SP and we will distribute the money with their help more equally, that will motivate others to register and participate actively on steemit.com

How do you explain self-upvote as a good or bad social behavior & why?

In most of the cases self-upvote is a selfish behaviour and it's not great to do it.

"With great power comes great responsibility", like my favourite comic character, Spider Man used to say.

Just the fact that we get with SP more rights to decide how the new tokens should be distributed doesn't mean that we should decide to give it to us. It's against of the spirit of steemit. Think about it in that way: each time when you give yourself the money, you are taking the chance to another users to earn it. If you have made a good quality publications, you will earn without self-upvotes because others will vote for you. If your publication is poorly made and you know it, money distributed to yourself are earned in unethical way. It's like the boss at work who gives himself the 100 000 USD reward in the end of the year while his workers are having downgraded salaries.

Now, steemit doesn't say that self-voting is prohibited (country representatives shouldn't make more than 10% self-votes but there is no rules for the regular users) although it's unwritten rule to not do it too often, if at all. Everyone can check how often do you self-vote on Steemworld so don't think your decisions won't be noticed.

Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM

Coinmarketcap.com is the website with many detailed information about hundreds of cryptocurrencies. When you open the main page, you can see the list of all 10 593 cryptos, starting from the most popular (Bitcoin, Etherum, Tether). List includes the information about its' prices, market cap, supplies etc.

We have a dark age in cryptoworld currently. Even though the price of Bitcoin is not falling down so fast any more (in fact it starts to grow), the global crypto market cap decreased for over 92% only in the last 24 hours.

Simple searcher allows you to find the cryptocurrencies you wish to explore. Obviously, I'm interested in two of them: SBD (#497 biggest cryptocurrency) and STEEM (#269 biggest cryptocurrency).

On the page dedicated to the selected crypto, we can see the price is USD, dynamics in the last 24h(if the price goes up or down and for how many percent).

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Then we have a chart with price, market cap and trading view. Chart can be easily changed to show the dynamics from the last 24h, 1 month, 3months, a year or another period of time.

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Finally we have some detailed statistics which might motivate us to invest in some crypto.
Well, it doesn't look good recently. From another point of view, this difficult times might be a great opportunity for the investors who would like to buy some SBD or STEEM.

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As you can see on the screenshots, coin market cap of STEEM is 91 787 761, fully diluted market cap is higher for approx 4 million.

What are the different tokens do you earn by socializing in Steem Blockchain?

There are four tokens which you can get on steemit.com
💲 SBD

• you get it as the author of the articles set on 50/50
  Author gets 25% of the total income from the post 50/50 in SBD
• you get it as the author of the comments (25% of the total income)

💲STEEM

• you get it often as the reward for the contests
• you can change SBD to STEEM in the inner market

💲 SP

• you get it as the author of the articles set on 50/50 and author of the comments (25% of the total income)
• you get it as the author of the articles set on 100%SP (50% of the total income)
• you get it as the curator of the post or comments (50% of the income from the post is distributed between curators)
• you get it as the reward for holding the SP or delegating it to the communities

💲 TRX

• for every 1 SP used for interacting on the platform, you receive 1 TRX

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Thank you for reading,
@papi.mati

CC:
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