DIFFERENCE BETWEEN STEEM, STEEM DOLLER & STEEM POWER

in #msgc4 years ago

After joining Steem network we came across various new things. The most difficult thing for new Users is to understand the difference between STEEM , STEEM DOLLAR and STEEM POWER . All these 3 things can be seen in the wallet section of your Profile.
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In this post I will tell You about the difference between these 3.

LET'S START . . . . .

WHAT IS STEEMIT.COM ?

STEEMIT.COM is a social media site featuring it's 21th century cryptocurrency economic system which allows you to Interact with the Steem Blockchain.

There are three main assets classes on Steemit :

  1. Steem
  2. Steem Power
  3. Steem Dollar

Steem Economics System can be compared to a Geothermal power plant , where Steem is generated by Steem Power which empowers the Economic System, allows the Turbine to Generate Electricity which holds the Sentimental Financial Value.

WHAT IS STEEM ?
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STEEM is a sort of cryptocurrency that could be traded freely on the Internet.
You can purchase STEEM directly, or you can be awarded with STEEM once you publish a post or do any activity of STEEMIT.COM

STEEM can be converted to Steem Power or Steem Dollars.
All other tokens drive their Value from the value of STEEM.
You can transfer you STEEM to Steem Power by clicking on the value of STEEM on right side then Power UP.
IMG_20180701_142243[1].jpg

WHAT IS STEEM POWER ?
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The heart and soul of Steemit.com. This is the fixed, long term asset. It can be considered as a long investment that puts your money to work, amplifying its value by giving Users the power to assert influence within the community.

STEEM POWER determines the power of your UPVOTE.
The more is STEEM POWER , the more is the Value of your Upvote and Vice Versa.

STEEM POWER can be converted to STEEM back clicking on the Right side on Steem Power Value then POWER DOWN.
But one must keep in mind that it will take 14 weeks to transfer your STEEM POWER into STEEM.
IMG_20180701_142310[1].jpg

WHAT IS STEEM DOLLARS ?
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Steem Dollars were designed as an attempt to bring stability to the world of Cryptocurrency and to the Individuals who use STEEM Network.
Steem Dollars are transferable , You can transfer to an exchange and sell someone else or convert to STEEM.

The value of one STEEM Dollar is usually equal to one actual Dollar.
It takes & days for STEEM Dollar to be transfer to STEEM.
10% interests are gained when you are holding STEEM Dollars
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IF YOU LIKE MY POST , PLEASE GIVE UPVOTE . . .

IF YOU HAVE ANY QUESTION , COMMENT BELOW . . .

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The 'Steem Dollar' SBD (Steem Backed Dollar) is only confusing people because it has no real use case besides pushing a coin in the market. It is not backed by the Dollar and also is not interchangeable 1:1 with the Dollar.

yes you are right... they created so that they can level with dollar.. but they can provide assurance of its stability.. what you will it drop or rise in future?

@aabidlone I follow you, upvote, comments, now u

@aabidlone From my side, you are my articles upvote, comments, follow, will, I'll do the same to you ok?? My dear friend

@bitsignal buddy you really gave good information about SBD.

@aabidlone @bitsignal
Thank u my friends.. For sharing very helpful information... 👍👍👍

Well. Written bro. COuld learn a lot from this Article. I hope you write more like it in future.

thanks alot bro,,, with your help and guidance i will follow same path...thanks again bro

i think we have to hold steem now instead of SBD Because Steem have bright future what u think?

i also think same.. because SBD will not go more beyong, $1

What i found that whenever i upvote someone,my voting power is decreasing..Is there is any relationship between voting power and steem power?Is someone has high steep power and low voting power then will his vote is equivalent to a person with high voting power and low steem power? How we can refill our steem power without investing any steem & steem dollar?

let me make u clear.. that ur voting value is determined by steem power.... the voting power is just the influence of your vote... if ur vote has $1 value at 100% then it will be $0.5 at 50% and so on.... but this value of you vote like dollar is by steem power.... u have that whem some one upvote u... ur post earning increases

That's good article and it helps Steemit beginners.....

@aabidlone this is one of the most basic thing which many users dont know

Its definitily works, steem to steem power transfer...

Actually I was also having the doubts regarding the 3. Your post really helped me. Thank you so.

this info helped me alot please upvote and comment also from @moneyphoenix

very informative blog is this. This will definitely help people to grow on Steemit.

really a great research and nice info to understand for newbie.

interest on holding steem dollar is provided daily or monthly.

also add names of available exchange to buy steem and steem dollar....

This type of post is very helpful for those are new in steemit I appreciated you friend

Was helpful not like other posts :)

Bhai apne achha samjaya great blog

@aabidlone you really cleared my convept about steem steem power and steem dollar

Thanks for the information dude

Your post is really helpful.

Thanks for this usefull information. Keep posting these types of articles

I would say, this was the post I was looking for since joining steemit. Nicely executed and very well explained. I wouldn't nice post, i would say thanks a lot bro for posting this. Highly appreciated.

Useful info....

Bro, thanks for sharing this information.
Itz really very helpful and informative

good information about steem dollar

@aabidlone nice article ...we support each other.

most of them did not know this . this will help to all .thanks for shareing

Very gud information abt steem s doller and sp

Realy good post bro i much learn about it thanks for this post

You have great knowledge of steemit nice post

Thanks for informing and help full article

Your post is very helpful bro

thanks for sharing this great article

You have great knowledge of steemit i like it

really great information regarding steemit.

nice blog brother it will help people to understand the system of steemit platform more clearly so thanks for posting :)

@aabidlone, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!

Thank you in advance!

The whole steem concept is very confusing.we cant be very certain about this.

nic information keep going

Very very thank your for your post. I am very confused in the term. It help me very much.

Thank's for the grt news

Thanks buddy for this information.. really helpful for new users..

I was really in need for this post.

Hey that was informative, thanks a lot for this post. Keep uploading such posts...

Vpvote done, but I am not receiving any upvote.

GOOD INFORMATION FOR ALL....who are yet not knowing the difference in their wallet

Congratulations @aabidlone! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Belgium vs Japan


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

my pleasure... i will earn such badges in future too

what is steem power? and how is it powerful ?

steem power determines the price of your upvote

Congratulations @aabidlone! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Round of 16 - Day 2


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

gud informition

very informative about steemit, nice post.

@aabidlone, this is the most common problem newcomers face. Thanks for this quality post.

hey dear what an hnour good job from ur side to give such good imformation for mgsc

Nice information talk about steemit.

Great and helpful information.

Nice bro. is a very good information, Keep bringing such new information just so that people get more knowledge and And all people continue to support you.

i will try to make such posts in futurw too

how can we convert steem dollars into dollars

yes...tranfer them to any exchange

Well defined steem steem dollar and steem power

Great info. I wanted to know about this.

Thnx for teaching brother..🙂

The most importent think among them is steem power

This articke help me understand steem better

Informative Article, got few points understood. Thanks

great post

Yes it is the one of most successful way to earn and also share the knowledge

detailed knowledge about Steemit good one

Very Good, It was really full of knowledge.
Keep it up bro.
Keep in Touch==>@amar15

Nice blog how u get this. Idea tell me ,,u r grat guy i m a big fan of you. How much time u take to ready a blog tell me degibetly ,,u r a great person keep it up ,,i m very gratful to u if u r upvote and comment on my all blog ,,again u have such a lot of great ideashttps://steemit.com/mgsc/@pawanain/btc-price-may-hit-usd-3k-to-usd-5k-but-in-dec-2018-it-may-be-usd50k

Thanks for such great information within precise n less words...nice blog writing

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