Explanation difference between STEEM, STEEM POWER and STEEM DOLLARS

Many people are confused by steem, steem power and steem dollars. Let me clarify It for You. 

STEEM – it's basic currency unit. Things on steemit.com are valued in STEEM. STEEM must first be acquired to enter or exit the steam network. You can buy it on currency exchange such as bittrex.com. STEEM is not meant to be a way to store value, because total supply of STEEM doubles each year. 

STEEM can be converted instantly to Steem Power. Such conversion locks STEEM and makes it inaccessible while it’s being used as Steem Power. This is referred to as ‘powering up.’ The rate of conversion changes and can be found here as steem_per_mvest on the right.

Users can’t immediately convert Steem Power back to STEEM: they must submit their Steem Power and receive weekly installments of STEEM over two years, similar to bond payments. This is referred to as ‘powering down.

Steem Power (SP) – tokens needed to act on the steemit.com (upvote/downvote/comment). Steem Power determines weight of votes. The more SP you hold the more you can influence other’s rewards and gives You stronger voting influence. You can get SP for posting and voting valuable content, half of reward is given You as SP

Steem Dollars (SD) – tokens which are worth about $1.00 each. You will get paid partly in Steem Dollars by posting and voting. You can sell or transfer them into Steem, Bitcoin, or other currencies.
You can convert Steem Dollars to Steem within the Steem platform and then sell the Steem for a fiat currency on an exchange. The actual trade is delayed by one week: initiating the conversion means the Steem Dollar will become STEEM at the market price in exactly one week.  Half of content rewards are given as SD.

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