Steem Power explained, VESTS, voting power, vote weight, and inflation rate staking rewardssteemCreated with Sketch.

in steem •  2 years ago

Everything you need to know about STEEM Power


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https://steemd.com/@craig-grant

Steem voting bot
https://steemvoter.com


Dan Larimer talks about STEEM blockchain and Steemit


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Steem went up so much because of the new low inflation rate, so you correctly took advantage of a system change (knowingly or not). Had the inflation rate remained so high, Steem would be worth less today. The inflation would have just caused a person to make a little or break even, but no one on exchanges would want to hold steem with 160% inflation. Accumulation on the exchanges began after the the inflation rate dropped, so people can speculate on it, without having to keep it inside steem power.

Great video, though, it's changed so much it needs to be gone over again from scratch like you have.

I am currently watching this on you tube as you posted it here. Very cool explanation. A lot of people will benefit from your years of knowledge. Thank You.

Thank you very much for posting this. I'm new to Steem and crypto and I've been trying to intake as much information as I can to increase my financial IQ pertaining to crypto and also learn the inner workings of how Steemit actually functions. This was great information. Thanks again & followed!

here is my simple explanation....

Steemit WItness and Nodes Mine the steem....They keep a small portion as incentive to be nodes/witnesses.....but most newly mined steem goes to the peopel with most upvotes from peopel with highest steempower! If you have $0 steempower your upvotes will be worth $0 but if you have lets say $1 million dollars in Steempower your upvotes will become as much as $5 $10 at a time! This whole atmosphere is

I joined way back when in July last year (actually after seeing one of your blogs and getting hooked by your infectious enthusiasm for the platform). Since then, we've all been through a crazy thrill ride of ups and downs along the way all in this relatively brief period of Steemit's existence.

So, in terms of Steempower and this post, you covered that history as well as the the present day situation in meticulous detail and even gave your thoughts as to the reasons why they occured at all. Very insightful and useful info especially for people just joining now. Also, given the influx of new users at this time, your timing couldn't be better.

Excellent job yet again. Very impressed, Craig.

Keep doing what you do best and Steem On, my bro!!! :)

(p.s. nice analogy comparing trading to selling crack on a street corner, laughed a lot at that!)

Its all starting to make sense now. Thank you so much for the detailed explanation. It helps a lot when more experienced users go out of they way to guide the new members.
Im a noobie myself, i have just written my intro yesterday. Maybe you can check it out.

Great man Thanks for explaining I really like your feed because its talking I feel like you are speaking to me, and not just an article where I have to read, but you explain it step by step.

Thanks for taking the time to make this video for all of us newbies lol definitely cleared up a lot of questions I had

Hi @craig-grant, I've always wondered how whales got to be whales in Steemit. Surely they didn't have all that fiat to buy all that steam power, I kept pondering, I looked and most of the big boys with huge steam power and they all started last year. I guess the inflation rate helped a little bit. There was me thinking they blogged, commented and voted diligently but now I know better. It like playing a little video game - we all got to POWER UP! like Super Mario.

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They are mostly early miners. In the first month Steem was under the radar and you can only get Steem by mining.

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They had the foresight to jump on board early to take the risk when the odds were 50/50 for success and failure and today their efforts are paying off. I noticed many are techie also, which also helps!!

Interesting and informative as always, Craig. Thank you for helping those who are new to STEEM and steemit like me.

Thanks for the post, a lot of people don't know the difference between Steem Power and Steem.

This is an incredible video. I was waiting for a long time for someone to explain steemit like you did and I would be glad to watch new other videos of yours in which you explain steemit more and more so that new comers know how to get advantage of it. Thanks again man

Absolutely amazing bro, I learned so much man. Hope to see you on @crytpokingz

Finally someone explained this, we have still many new people around which they are happy to listen and learn about steem, great topic Craig

This proves Steem is a well thought and well planned social media. Great Details.

I just joined this really explained alot.

Thanks for the video.. It answered some questions I had. When I blog it automatically up votes my post.. Do I can't wait to update later.. I'll follow you

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when you post, uncheck the auto upvote box on the bottom left corner before submitting the post

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OK thanks..

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I don't have much steem power so it won't make much of a difference I guess anyway

Great video Craig! I have learned a lot more about Steem watching this then I have reading and searching about Steem. You explained everything I had questions on. Thanks for all you do to help. This is why I subscribed to you. You know your stuff!

Fantastic Video!

Great video adequately portraying the beauty of Steemit with out taking away from it with over bearing content.
Thanks and praise. V

Thanks, nicely explained. A lot of questions got cleared. By the way, just a suggestion, if you don't mind. You can use a free software ispringfree cam, to record your computer screen. It is clean, ad free, no logos, no time limits etc. You will feel much comfortable. Just a suggestion.........

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i like my style better

Thank you so much for posting this, I had absolutely no idea about the power and potential of this commodity. It is so good that experienced people take the time and make the effort to explain things to newbies. X

Can someone explain to me the Steem voting bot? is anyone using this?

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steemvoter.com

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I was in there site but its still kind of confusing for me. So they use my likes in the most efficient way and one my likes goes to them. Thats the understanding at from the site last time i was on it.

weeeeeeeeeeeeeerrd

This is good @craig-grant . Power up! Power up!!!

Hi @craig-grant, you mentioned Bitfinex in your video. I also have an account there but after reading a post from Zerohedge http://www.zerohedge.com/news/2017-05-03/worlds-largest-bitcoin-exchange-headed-mt-gox-style-collapse. I am wondering what your opionion is on the exchange. Is Bitfinex another budding Mt. Gox?

bookmarked for future reference.

Took me a while to finally get to reviewing this blog (was an open tab in my browser for a week), very glad I did though!

You explained what I needed to know in a really concise way man much appreciated! Good distinguishing remarks about voting weight and power, that was huge for me. I didn't realize how my vote impacts others beyond giving them 5cents, it's affect on my own blog and just generally how to use it in the most efficient way.

It was also a nice surprise near the conclusion portion of this video. That was particular interesting and useful knowledge i intend to consider.

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thank you, guess i need to promote this video some more

Very informative. I still got a question though.
Your SP increases over time due to inflation, but does the amount of vests also increase?

Thanks for the tutorial

@craig-grant, This is a great post detailing how Steem works. I resteemed this on my Channel.... Craig, if you have time you should check my channel out. I'm in the top 75 for Steemit followers

here is how I explain it now to people who dont get ow all this free money ould come out of nowhere to be paid to people everyday with popular stores with the most upvotes (from peopel with the highest steempower, number of upvotes doesnt mean anything, each persons vote is a different value deppending on how uch steempowerthey have...my upvotes can be maybe 1 penny with my 400 steempower but @thejohasfiles with his 1.3 million steempower (Over $1 million dollars) has an upvote of around $5 to $10 for just oe of his upvotes! When he upvotes my postts they jump in value at least five dollars at a tme! Hi role is to basically reward good posts that deserve it!

if all steemit whales all careed this much we wouldnt have this prolkem! thanks for reminding me that we NEED a new video with an ANIMATION that EXPLAINS steempower and WHY its such a great investment which pays for itself AND allows you to convrt yoru steempower BACK to liquid cash Its just a way to SAVE your money and to amke more money off the savings!

if your posting everyday on steemit like @craig-grant here you MUST get soem steempower and stay powered up or you wont end up getting as much rewards as yu woudl like!

Cool. This video explains a lot about steem.

i love this video you did about steem and steem power... now i understand how to use steem power... thanks for all the info @craig-grant

Very informative video. I really likes it. Thank you!

Nice post, very informative!

Great info thanks. Been here 5 days and still working things out. This community is awesome and liberating.

excellent, thanks

Should know to every newbies .

Thanks for sharing this post. As a new user I so appreciate your willingness to help us catch on and catch up.

Thanks for sharing! The links to your post and video was included in Steem.center wiki pages about STEEM Tokens, Steem, Steemit and Dan Larimer. Thanks and good luck again!

Great post! I am wondering how did you discover all those interesting insights? Just empirically or there was some kind of info resource? This kind of info is very difficult to find! Thanks!

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Time and experience