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RE: Conversations With Your Younger Self

in #money8 years ago

Here is how I describe in Haiku Steem vs Steem Power Vs Steem dollars. In a week, you'l be able to have a conversation with your current self and say it all makes sense.


https://steemit.com/steemit/@gikitiki/a-steemit-haiku


My Coles notes version:

  • Steem = The currency. I think of it more as a commodity (i.e. gold) It has a price that fluxuates based on the market. It's usually valued against 1 BitCoin.
  • Steem Power = Invested Steem. You've locked this away for at least 104 weeks. The more Steem Power you have, the higher your reputation will be. With a higher reputation, your upvotes will mean more.
  • Steem Dollar = The quantity of steem that is roughly equivalent to $1 USD
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Thanks again gikitiki. Wondering why they tied it to the USD? Also wondering how one becomes a whale. Are whales the largest financial contributors or did they just get there first?

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