The first phase of the Steem FAQ and Wikee: Consolidation of Knowledge

in steem •  2 years ago

Many have called for it, some have looked for it, and now we are going to create it. We need your help creating the best FAQ and Wikee a cryptocurrency and/or social media site has ever had. This will be for new users, journalists and more, so let's make FAQs and Wikees great again.

To begin, let's do a few things in this post:

1/ Add your questions about Steem and Steemit below that you believe are asked frequently. (a/ Please only submit one question per high level comment. b/ Please submit new questions to the thread)

2/ Answer each others' questions :)

3/ Link any articles that are relevant to a Steem / Steemit Wikee. (a/ Please submit the link with the following information and structure: Subject / Date posted / Author / Link / One sentence description.)

A few users (I know of @someguy123 & @dragon) have begun Wiki projects. This thread is meant to help them, Steemers and Steemitans alike take the Wikee and FAQ projects to the next level by consolidating the best information and getting the best answers. I'll be watching this thread closely and answering questions along with some others on the Steemit team such as @dan and @theoretical to help pull out the best answers down to the technical level.

For time's sake, let's consider this a one month long project, although hopefully we can string together the most relevant questions answers and articles much sooner.

The FAQ and Wikee projects could use a lot of love. Steemit is interested in hiring or supporting any entreprenuering Steemians to help with the task. Please reach out to me on steemit.chat (@ned) if you are interested in helping :)

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Ned and everyone: As promised, @kevinwong and I hereby release our "Simply Steemit" guide (link below) into the public domain for the purposes of helping start this Wiki guide. Everyone, please feel free to use it, cut and paste it, re-write it, revise it, whatever. This was designed as a basic guide until something else came along, and now the Wiki will take over that role. I am thrilled NOT to have to write any more How To materials for Steemit! -Tom @donkeypong

EDIT: This comment was upvoted by Kevin (co-author) also, indicating his agreement to make this guide "public domian".
https://steemit.com/steemit/@donkeypong/simply-steemit-your-no-nonsense-guide-to-getting-started

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That's a great guide and I've bookmarked it! Whenever I've been asked about starting out on Steemit I've shared your post. :)

What Steemit tools are available for the community?

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It's also listed as a quick link in the top right hamburger menu on every steemit.com page. Just click on Steem App Center.
Imgur

What's the difference between STEEM, STEEM POWER AND STEEM DOLLARS?

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steem is a token you can buy or sell.
steem power is steem locked up in a time-vault that is generating more steem locked in steempower until you power down and convert your steempower to steem over a two year period.
Steem Dollars is a token you can buy or sell and it is pegged to about $1 worth of steem.

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Steem > Currency (like the USD)


Steem Power > Determines how much is your Up vote worth/ how much influence you have in the platform and how much are you vested.


Steem Dollars > A smart contract(promise) that you will get around the same amount of Steem out worth 1 US Dollar at the current market price. 1 Steem Dollar is always worth around 1 US Dollar

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Steam, Steem Dollars & Steem Power / 19.7.16 / @donkeypong / https://steemit.com/steemit/@donkeypong/still-confused-by-steem-steem-dollars-and-steem-power-the-power-plant-analogy / Understanding the difference between steem, steem power & steem dollars.

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Steem tokens are tradable tokens and can be bought or sold instantly at anytime. It does not determine how much influence you have on Steemit.

Steem power are long term shares of a company that when invested in, can only be cashed out at 1 percent per week, over 2 years. A total of 104(number of weeks in 2 years) payments over 2 years. Investments in Steem power means the commitment to the long term value and health of it.

Each Steem dollar can be converted to Steem worth 1 dollar. It's pegged to the US dollar. Currently convertible to Steem worth about 80 cents and ranges from 80 cents to $1.40 the highest so far I've seen. And the range is sometimes dependent on the price of Steem going up or down when converting. But ultimately it's convertible to Steem worth 1 dollar.

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8-15 / @anotherjoe / https://steemit.com/steemit/@anotherjoe/steemit-steem-steem-dollars-and-steem-power-for-dummies-yes-the-mud-will-settle / Walks through the various features of the wallet, explaining the different options and how they work, including images of dropdowns. Links to other helpful articles included.

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Steem is a crypto-commodity that is used to back a digital currency called Steem Dollars which are always worth about 1 USD. Steem Power is a reputation point system that grants the individuals who add the most value to the platform the most influence. It too is backed by the crypto-commodity steem which means it can be converted into Steem and then into some other money like Bitcoin or USD, however, unlike Steem Dollars you cannot cash out right away.

How you get a better reputation, please explain all methods, thanks!

And how you can loose it?

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There are two methods:

  1. Get upvotes by commenting, posting, etc. Don't post just to post - post something thoughtful.
  2. This is more like common sense: Avoid bad behavior and things that may harm the community in order to prevent your reputation getting lowered by the downvotes of others.
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I wrote an article about how I achieved the highest reputation on Steemit. I provide actionable things you can do to improve your reputation: https://steemit.com/steemit/@stellabelle/how-i-achieved-the-1-reputation-ranking-on-steemit-and-how-you-can-improve-yours

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Thanks Stellabelle, i will follow your advice#1 first.

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Not that i am interested in, but i heard you can loose you reputation as well. But only from members with a higher reputation, is that true?

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Yes. At 57 you're reputation is high imo. This could be damaged if you were to get flagged by a lot of people (or just one whale) whose reputation is much higher than yours.

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Thanks a lot! Your post is informative and gives me some kind of imagination about steemit!

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The main thing I did, I think, is focus on other people's needs and I tried very hard to help as many people as possible by providing high-quality comments. Most people get on Steemit and somehow try to "game the system" but the best thing you can do is provide as much value to as many people as possible in your own unique way. This means that you get to know your own strengths intimately. You have unique strengths that no one else has. Use them, in a beneficial way, but without thinking of how that will ultimately be benefitting you. That, to me is the key. I don't always succeed in this endeavor because of the human tendency towards self-interest. But doing it as a practice, it does become easier.

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Create original content, adding value to the community. Once you do that, your reputation will go up based on how many positive votes(upvotes) you get. You can loose it, meaning, your reputation will start going down if you get the opposite, which is how many negative votes you get(downvotes).

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I think this question is much more likely to be phrased

"WHAT JUST HAPPENED TO MY REPUTATION"

or

"WHY ARE YOU ALL FLAGGING ME"

To which I would answer.

"Being flagged by somebody whose reputation is higher than yours, can negatively affect your own reputation. If a mistake has been made or you wish to redeem yourself, you could try reaching out to the flagger before the time of your flagged posts payout.

It is possible that your post has broken one of The Unwritten Rules of Steemit."

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more details how the reputation system is functioning would be great!

By the way, here a great reputation viewer: https://steemit.com/steem-cool/@blueorgy/steem-cool-live-reputation-rep-viewer-w-estimated-upvote-rep-value-rep-needed-for-next-level-level-information

What is the Steemit whitepaper and what's its use?

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To clarify there is a Steem Whitepaper, however, there is not yet a Steemit Whitepaper.

Steem == Cryptocurrency and Blockchain

Steemit == Website that pulls data from Steem

The Steem Whitepaper was written to describe the mechanics of the token system that makes decentralized content incentives and distribution possible in a way that can improve web technologies across the board. It also is applicable to Steemit, one of the first websites to plug into the Steem blockchain. Users who have read the Steem Whitepaper will understand better how their interactions with Steemit are actually interactions with Steem, the decentralized network.

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Thanks that was very helpful :)

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Why is it called the Steem Whitepaper and do you plan to make it Steemit Whitepaper?

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Does steemit needs a whitepaper? how about an FAQ?
-- develCuy

As the author of the graphene docs, I can help you setup a nice page or (if you like) integrated it into the existing docs pages there. The sources are public domain and github hosted (repo). It is build on ReStructureText and uses sphinx to generate nicely looking pages. Alternatively, I can recommend jekyll to build static pages aswell.

Please before commenting press CTR+F to use the Find option in your browser and type in what are you searching for eq. Steem Power, Steem Dollars etc...
This way you will avoid repeating questions that already have an answer.
If you made a comment asking for something that has an answer already, delete your comment.

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Also read through the comments thread first. You'll have an idea of the questions asked and you'll definitely learn a lot and feel like a Steemit ninja. You'll learn a lot more about Steemit than you've learnt your entire time on the platform.

How Many USD Authors Really Get per Article – Steem Dollars Explained / 2016-07-03 / @riensen / https://steemit.com/steem/@riensen/how-much-usd-do-authors-really-get-steem-dollars-explained / How much SBD is actually earned (-SP and -Curation) and how to convert them to STEEM (blockchain conversion / market).

@ned I already started working on this over at http://steemguide.wiki

Would be open to any help I can get on it.....

Edit: I also messaged you on Steemit.Chat under a different name with explanation why!

Edit 2: I am also working on Steem.Gifts, Steem.Market and Steem.Exchange but can't get any help on any of them.

Why should I power up and not just cash out?
You reward us for Upvoting and Commenting. Why not for Sharing?

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Yes, exactly. The benefits whilst in Beta phase, I feel, would far outweigh the potential additional costs. "Word-of-mouth" recommendations are still the best imo.

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-1- Everyone has different priorities. Some may want to power up and increase their voting influence and curation income and some may want to cash out. It is strictly a personal choice.

-2- Blogging adds value. Commenting adds value. Upvoting (as intended - in the form of spotting good content fast) adds value. If Sharing a link is found to add value, it will probably be implemented as a function and incentivized.

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You should power up because when you do, you 're ensuring the long term health of Steem and for your commitment, you're rewarded more than just holding Steem or cashing out.

You 're rewarded for sharing. When you share your unique and original content, you're rewarded in terms of upvotes(payout) the same way you reward others when you upvote their posts.

How can i make profit by powering up

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by powering up you lock up your funds for as long as you want while you gain % interest (more steem) on your steempower. At some point in the future when you want to power down, it will take about two years to empty your steempower. If Steem is flat or worth more in the future, you make profit by powering up.

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Powering up does not ensure that you will automatically profit. This is contingent on what the price of Steem will be over a given time period as well as your actions as a curator.

Powering up (in other words converting Steem to Steem Power) allows one

a) to increase their voting power and claim curation rewards
b) to protect themselves from dilution (up to 90% compared to the running inflation rate)

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You'll be rewarded(profit) once you power up. Powering up, means showing your long term commitment to the Steemit platform, your trust and belief. Powering up ensures the long term health and stability of the Steemit platform. And for helping and having that much support and faith, you get rewarded(profit).

Post Formatting / 8/17/2016 / @minion / How to format posts / Most used Markdown codes and only basic html for easy post formatting both beginners and advanced users.

A simple explanation of the economics would be great! Along the same lines as what @neoxian was getting asked - "where the money comes from." Whenever I talk about Steem I too get asked that all the time.

My explanation of Steemit usually goes:
"It's Reddit, but where upvotes actually pay. You can make money and invest in the platform, or simply cash out and pay bills. It is funded essentially through the traders of Steem along with institutional investors signing up to be apart of a new form of next-gen user reviews and content."

But I know this isn't 100% accurate and I feel like a better more succinct explanation is out there.

What are Steemit's policies on plagiarism / spam? (Explanation of @cheetah.)

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Spam is definitely discouraged and also has the potential to harm one's reputation.

Plagiarism, if done maliciously (pretending that the content of others is one's own), can also lead to harm in one's reputation and is generally perceived negatively.

If the content that one is posting about is not their own they should at least provide a credit and/or link to the original source.

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Another great comment of @alexgr I'd like to contribute the following to:

  • Spam is "permanent" damage to the system, since it is backed up by a blockchain
  • Plagiarism can get you in a lawsuit & can cause the company Steemit problems (DMCA), to further explain. Your taking someone's work without their permission and making a profit on it, that is punishable by law.

Tip:
If you still wanna post something you haven't made a proper way how to "avoid" plagiarism is to link to the original source and add a "personal twist" to it.

Personal twist - Stating your opinion about the subject eq. adding your "stamp" on that, adding more info etc...increasing it's value.

How much steem power/ steem dollars do you need to have in order to start getting interest in on them?

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There is no lower threshold. Interest can start accumulating even with the SP contained in a brand new account.

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Ohh Thanks could not find the dang answer for the life of me. Appreciate it.

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Mentioned this on another comment. SP does not get paid interest.

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Any amount of Steem dollars will earn you interest proportional to what you have.
You get more for holding Steem power long term and it also gives you influence over Steemit.

A few I think new users will have:

  • Why does my post say "pending payout"? Why is it my post is losing value over time?
  • How do I tag my post appropriately? Why do I only have the option to tag five items?
  • Why is it I see someone voted my post, yet when they also voted for another it is worth more than mine?
  • How do I receive push notifications when I get votes?
  • What are Whales? Dolphins? Minnows?
  • What are vests?
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I'll give it a go on 2 of these

-1- (whales/dolphins/minnows): Each voter has a different level of power depending his Steem Power holdings. Very large stakeholders of Steem Power are called "Whales" due to their big impact when they vote. Minnows are typically new users whose voting power is very small. Dolphins are somewhere in the middle.

-2- A post may be losing value (or increasing in value) due to fluctuations in the price of steem and/or the voting occurring in other posts - as all posts share a common reward pool.

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Why does my post say "pending payout"?
First of all, it's changed to potential payout. Potential because it's what you're about to be paid if that's the final payount. It's now a final payout yet because it can go up or down.

Why is it my post is losing value over time?
Partly because of the price of Steem.

How do I tag my post appropriately?
Ask yourself, what is this post about and narrow the answer to one or two words. Or what category of topics this post can placed in.

Why do I only have the option to tag five items?
One reason is to prevent spam. Another reason is that, most tags can be merged into one and therefore redundant.

Why is it I see someone voted my post, yet when they also voted for another it is worth more than mine?
One possible unsure reason is because perhaps when they voted on yours their voting power was drained and when they did on your friend, their voting power was fully recharged or high. Also there's a new slider where people with significant Steem power can adjust the weight of each vote each time they vote(Not sure how this affects the upvote value you get).

How do I receive push notifications when I get votes?
There are currently no Steemit notifications. The closest thing is a third party developers progam called Steemification on Steemtools.com( https://steemit.com/steemit/@fleuri/steemit-notifications-browser-extension-download-now ). The link to Steemtools is in the top right corner on the Steemit website in the menu. It's labeled "Steem app center" when you click on the menu. There's the possibility of a notification system implemented on the Steemit website.

What are Whales? Dolphins? Minnows?
Think of these names as names of Steemitans holding a significant amount of Steem power from the largest(whales) to still large(dolphins and minnows respectively) but less comparatively to whales.
Think of vests as just another token on the Steemit network. Whatever vests you hold is a Steem power equivalent. There's a conversion rate to view the conversion. I wrote a post on it here.
What are vests / 7-26-2016 / @kakradetome / https://steemit.com/steemit/@kakradetome/steemd-how-to-track-your-activity-on-steemit-a-behind-the-scenes-look-at-steemit / A behind the scenes look at Steemit and a bit of information about vests.

I'd be willing to help you guys out with the compiling of all the questions and answers! Just let me know what I can do!

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Reach out to @ned on Steemit.chat as he said in this post :) Thanks for your support. We all appreciate it :)

What are activity Shares? No one answered this so far...

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Hmmm, I thought those were not activated but only discussed. Am I wrong in that assumption?

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The activity shares is generated from all your activities on steemit and can be compared to others on a most-active list.

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but does they have any function?

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No, they were an idea we ultimately scrapped. I believe we have an open github ticket to remove them once and for all.

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Thanks that helped a lot!

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What can i do with them? Are they good for something?

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you transfer your steem to Bittrex.com, poloniex.com and sell them for bitcoins which you can cash out directly through numerous ways. Advcash.com for example is a great mastercard solution that let you cash out worldwide where there is an ATM-machine.

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"you transfer your steem to Bittrex.com, poloniex.com"

And even better new - just today - Steem's integration into Shapeshift.io has been announced! (ie- convert them to BTC's, then convert those to cash!) :-)

https://shapeshift.io

edit: here's their announcement right here on steemit.com

https://steemit.com/steemit/@shapeshiftio/official-announcement-shapeshift-has-added-steem-to-the-exchange

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Easiest Way to Withdraw Your Steem Dollars / 31.7.16 / @piepiper / https://steemit.com/steem-help/@piedpiper/how-to-withdraw-your-steem-dollars-in-less-that-a-minute / The fasiest and easiest way to withdraw your steem dollars. (Video)

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We should have this be a very full and informative section of the FAQ/Wiki for this. There should be lots of different options that explain the whole process from start to end, and what the pros and cons are for the different methods.

We need to keep in mind that a lot of Steemit users have little to no exposure to Bitcoins, exchanges, etc. I've helped a few of my friends through this process, and know from their experience that this aspect of Steemit cam be overwhelming.

Also, detailed steps to go between all the currencies should be there. Steem->BTC->USD. USD->BTC->SP. SBD->Steem->SP. (etc.)

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You can convert your Steem to fiat currency by transferring your Steem to an exchange. Selling it to Bitcoin and using an exhange like Circle.com or Coinbase.com to sell to fiat.

If you've already sold your Steem to Steem dollars, you can also send your Steem dollars to an exchange like Poloniex, sell to Bitcoin, and sell on an exchange that buys Bitcoin for fiat like Circle.com or Coinbase.com for fiat.

Not a question but helpful instruction: don't upvote a comment until you read the whole stream or you will have to scroll up up up to find it again. You know it's happened to you.

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It did to me. Good point. You're basically promoting your comment and it will either move up or not based on comment hierarchy.

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For the purpose of this answer, let's assume the question is:
Why does my payout keep changing when I've received no new upvotes or flags?

There is only a select amount of Steem to be dispersed in a rolling 24 hour period. At any given time, the system is making an estimate of how much you will be paid based on what percentage of Steem Power-adjusted votes have been given to your post.

Let's pretend a post is currently worth $5. But then, a bunch of other posts starts getting really popular. The money to pay those popular posts needs to come from somewhere, so a portion of your post's value is reallocated to these newly-popular posts. Now your post might only be worth $4.

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Unless the dev team makes an update to change this (Github issue 87), the 25% drop in payout that happens right at the end should be explained.

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Well of course the devs skim a little off the top when payout occurs only fair.

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The more "value" a post has, the more time it will get to accumulate new up votes. So for example if you make a post with 50 Up votes, 1 hour left till payout and a "whale" up votes it, depending on the "whale's" Steem Power your post will gain more time to accumulate votes.

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The estimated value of your post will also change due to the market price of Steem changing. It's based on the median of price the last 7 days - the witnesses publish the price feeds.

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One reason your payout changes is because of the price of Steem going up or down.

How will disputes be resolved? May be STEEMIT POLLS?
https://steemit.com/steemit/@dmilash/steemit-polls-is-that-possible-it-s-necessary
A constant dialogue with the registered users - how?

We also need to consider awards that can attract new visitors. We must to offer attractive prizes for the invited visitors and participants. Believe me, the real issue of the prizes will let us virtually in a few months to promote a network.

Even the use of avatars and personal messages?

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Сommon questions that affect all, such modifications, additions, or when you want to know the opinion of the majority of users

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"Steem is a blockchain-based social media platform where anyone can earn rewards."

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Isn't this supposed to be "steemit" not steem?

Steemit is the "blockchain-based social media platform where anyone can earn rewards."

And the rewards are in the form of Steem.

The Steem Whitepaper says Steem is "An incentivized, blockchain-based social media platform".

Just want to clarify this.

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Steemit is the platform, Steem the blockchain. But the quote for "Steem" is also here: https://steem.io/ (that's the source).

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Steemit is a public, transparent amalgam of Facebook and Reddit, just to name a few social networks, that exists on a blockchain where you post and share original content, distributing value to the community and potentially getting paid.

This is the clearest definition in my head now based on my knowledge and experience of it so far and i hope it's helpful :)

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yes I also picked up on this after spending a few hours picking up on things. Still made a few wrong turns .

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Sub-question: What is the difference between Steem and Steemit?

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According to @ned,

Steem == Cryptocurrency and Blockchain

Steemit == Website that pulls data from Steem

Hello @ned, I have a question regarding the valuation of every upvote, how is it computed against its steempower. I mean, if a person has this steem power how much is the value of their votes in dollars?

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http://www.steemdollar.com/dollar_per_vote.php
That shows the value of an up vote on something that has 0 up votes, it's value increases if something has already some up votes.

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The more you vote, the lower your 'voting power' drops, your votes will be worth less the more you vote. Your voting power comes back though, it takes 5 days to fully replenish from 0 - but will replenish faster the closer it is to 100% - kind of like a mana bar in a computer game.

What kind of advertising do Steemit do to get new dolphins and where?

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So far, Steemit is doing most of its advertising indirectly through the people that join and spread the word, media stories about it and viral growth. In other words: The product speaks for itself.

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As a matter of fact, Steemit would still grow in numbers exponentially even if it chose not to advertise because of its Godsent built in advertising and marketting nature of Steemit.

What kind of advertising do Steemit do to get new dolphins and where? / 7-26-2016 / @kakradetome / https://steemit.com/steemit/@kakradetome/steemits-godsent-inbuilt-marketting-strategy-and-why-they-don-t-have-to-pay-a-dime-for-marketting / Steemit Advertising and Marketing

Nonetheless, Ned and Dan mentioned in their blocktalk interview, there could be a referral System.

Referral System / 7-25-2016 / @kakradetome / https://steemit.com/steemit/@kakradetome/steem-referral-program-coming-soon-and-what-you-should-do-while-it-s-not-here-yet / Referral System

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Sorry for misunderstanding... I thought 30 minutes was the recommended wiat time? No?
Btw, thankyou for supplying so many great succinct answers to these questions ( I think I speak for -everyone-)

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Correct answer is (unless you are a whale) when you come across something you like :)

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Close sorry not correct.

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If your vote is worth less than 0.01$ the answer is: Whenever you like.

If you are actively trying to maximize curation rewards, the answer is: Prior to big voters upvoting what you want to upvote. Keep in mind that votes cast before the first 15mn period do not provide serious curation rewards to you (edit: the answer below has the table). Curation rewards increase gradually up to the 29th minute and are maximized from the 30th minute onwards. But if more people have voted at that point it may be preferable to have voted earlier (say 15-20-25 minutes) as long as you voted earlier than them.

This system may appear "complex" because it doesn't have a fixed answer, yet the rationale behind it is to reward those who are able to "spot" good content earlier than others. So there is an increased amount of relativity on the aspect of who votes and when they vote.

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Just before wang, currently at around 7:59. ;)

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Wang has been voting increasingly earlier for the past couple of weeks, definitely makes getting rewards more competitive for all bots. Good thing.

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There is a penalty for voting earlier on a post. This is not a negative penalty. It is a penalty in a form of a reward or bonus for the author of the post. If you vote early, what you're doing is valueing the authors post giving all or some of your curation rewards based on when you vote. After 30 minutes, 100% of the curation rewards go to you the curator of curating and 0 to the author. Anything less than 30 minutes is split between the author and the curator in terms of curation rewards.

Details:
Voting above 30 minutes into the post, the author gets 0% whilst the curator gets 100%.
Voting above 20 minutes into the post, the author gets 54% whilst the curator gets 44%.
Voting above 10 minutes into the post, the author gets 89% whilst the curator gets 11%.
Voting above 5 minutes into the post, the author gets 97.2% whilst the curator gets 2.8%.
Voting above 3 minutes into the post, the author gets 99% whilst the curator gets 1%.

Hope this helps :)

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a blockchain is like DNA containing private and public key-pairs allowing people and systems to transfer and store data on securely and transparent.

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A blockchain is essentially a distributed database where pieces of information are added in a sequence of small blocks, hence the name of "block-chain". Since multiple parties have a copy of the database, a consensus mechanism is typically required to make sure that everyone has the same data.

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A public ledger of all transactions that have ever been executed.

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In the real life, we interact and do business with one another. All the business and trade transactions are recorded somewhere whether it's bookkeeping or other forms. This record is for the most part hidden or inaccessible to the public. eg. You don't see the transactions of your friends bank account. We put our trust in banks and other trusted third parties and allow them keep track of verification and validations of these transactions.

Bitcoin uses computers that are networked through the internet, to keep track of collection of data, exactly what banks and other trusted third parties for example do. The collection of data is open to the public and not in control of anyone, not the government, no one. It is public in something called a ledger availabe to every computer on the bitcoin network. This ledger(record keeping) is called the blockchain. Same thing as in the real world, but public, accessible and not in control of anyone.

While i´m powering down, what happens in between these 2 years.

First Question: Do i get all the Steem Power at once or on a weekly base?

My Second Question is related to the first:
If its payed out at once, do i still can use the Steem Power to vote, while im powering down?

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  1. The money are given in 104 weeks and you get 1/104th every week, after the powerdown.
  2. It is not payed out at once but while you are getting the 1/104th every week you can still increase the SP. It's actually possible to be both cashing out and increasing your SP if you are making SP from votes and interest.
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There is no interest on SP. It is a common misconception. But your SP does "increase". This might be a good question to ask...

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I've been googling the semantics over the word "interest" and it is more commonly associated with lending and borrowing (or deposits). Thing is, there is a "growth" but I don't know any other word that closely approximates this concept other than interest. It is definitely not ROI since dilution is running faster... I don't know what else to call it.

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It's best to explain the mechanism behind Steem Power. It's really unclear if you don't know how it exactly works.

SP is actually VESTS. A vest is like a share of a pool of money. When you power up, you buy those shares. You don't get any interest in a sense that you'll get more vests.

Instead the value of those vests will go up because the pool of money will grow bigger over time. total_vesting_fund_steemshows how much steem is on that pool of money. total_vesting_sharesshows how many shares exist.

I think it might been a little mistake to talk about Steem Power as steems and not as vests. Of course it is easier for average user when they don't have to know about vests, but it makes the system harder to understand if somebody really wants to.

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I think the correct term is 'dividend'. Stocks and bonds both have these, after prescribed periods periods or they can be announced out of the blue, when a company is doing well and wants to encourage buying pressure on their stocks. So, these additions to your SP should be called 'dividends'. But by the same token, interest payments work the same way. In margin lending facilities at exchanges, you get regular payments on every loan as it matures from the funds you place on deposit. So it's similar to that as well, basically like a term deposit.

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Another question.
A genuine one I can't answer.

If by powering down I am paid a weekly payment of 1/104th of my SP, could this payment increase each week as my SP is rising, or is this only based on how much SP I had at the time that I chose to 'Power Down'?

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It is based on the amount of SP you chose to power down. Your SP holdings could keep increasing though despite the power down - although the 1/104th payment will be the same.

You can initiate a new power down at any time (at which point the 1/104th slice is recalculated based on the SP amount you hold at the time when you click the button). So in this way you can increase the SP amount withdrawn (if in the meantime your SP is growing faster than your withdrawal rate).

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So, yes or no, 104 weeks after a full power down and earning no SP rewards, will my SP balance be 0?

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So, yes or no, 104 weeks after a full power down and earning no SP rewards, will my SP balance be 0?

Even if you get no rewards, the balance is still going upwards due to the programmed growth. So the answer is no.

If you have 1000SP to withdraw, and you get no curation or author rewards, you'll get the 1000 out in 104 parts, but when you have finally pulled out the 1000, there will be more in your account from the "interest" of the initial 1000.

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While powering down the network has calculated your Vests, which are a stable measure of Steem supply. The network will transfer 1/104 of your Steem Power (Calculated as Vests) to Steem each week.

The action occurs on a weekly basis.

One can continue to curate and earn curation rewards while powering down.

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already answered - see up

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It was answered a lot here. Each week it comes a new post about this Topic, but i stil want it to hear it from their mouth.

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"Where does the money come from"... "who's paying all that money"?

The answer is simple: "Steemit is not paying real money. It issues a virtual currency and that's what is distributed to the authors. They can then convert it to money using an online exchange."

At that point you might get a second question: "And why would that virtual currency have any value?"

And the answer is: "For the same reason that other digital currencies like Bitcoin have value: Investors see potential in them and they buy them."

An alternative -much- shorter version of the same Q&A could be worded as follows:

"Where does the money come from?" or "Who pays?"

"Investors"

This single-worded answer "investors" implies all the activity where a) investors buy steem and determine the price levels, b) steem acquires its "real life" value from the market, c) author is able to convert steem to "real life" money... Technically, this answer is a bit misleading (because there is no direct link between investor and author) but if you move back and see the larger picture, it's actually accurate.

Steemit Wiki, a friend of mine and i had the idea of doing it. But we see you are already working on it. If you need some guys to help you. It would be an honor for us.! Me and my friends are from Germany may we Icould help you translate the Wiki and Faqs to german.

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Reach out to @ned on Steemit.chat. I'm very sure he'll be glad you want to help out. Thank you for all your help :)

Where can I purchase 'official ' trademarked Steemit merchandise?

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Nowhere at the time being.

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There are no official merchandise yet. But there are several unofficial. Here's one of them by @craig-grant .
Where can I purchase 'official ' trademarked Steemit merchandise? / 7-23-2016 / @craig-grant / https://steemit.com/steemit/@kakradetome/ https://steemit.com/steem/@craig-grant/you-re-not-official-until-you-have-your-steem-merchandise-on-deck / Steemit merchandise

PS: @craig-grant is a magic spaceship human being :) Much love @craig-grant :)

Love this, desperately needed.

I guess this is the best place to ask particular questions that I'm unsure about.

I know that upvoting more than 20 articles in a 24 hour period begins decreasing my upvote power for each upvote. This question has 2 parts (related so submitting them both in this one comment rather than separate ones):

  1. Do the first 20 upvotes lose and gain power retroactively as my votes go above or below 20 in the 24 hour period?
  2. Do upvotes made on comments within articles contribute to this voting power decay?
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  1. You can check your up vote "power" here: http://www.steemdollar.com/dollar_per_vote.php? ,
    Your up vote power slowly regenerates, the higher it is, the slower it regenerates and the more you use it, the faster you lower it. The 20 up votes "rule" is just a fancy way of saying that 20 Up votes per day are the most powerful ones. But you shouldn't be concerned with this, many users go to 60% even lower, anyways It's a personal choice. Use the tool I've linked too and see what fits you :).
  2. Yes, up voting comments does use voting power.
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Great tool, thanks!

Is Steemit as good as everyone says or is it just for professionals and famous people. Its a question that needs looking at as most of us dont have a chance of being read.

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Steemit is for everyone, although professional and famous people do have an advantage in terms of recognition and following. This is normal. However this is not mutually exclusive with achieving success on your own and making a brand of your name. Some have done precisely that on Steemit and they weren't famous before their engagement with it.

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I'd like to add to @alexgr's comment:
If a famous person comes by we as a community don't like, we can make their posts less visible... So the power is in the hands of the community :)

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Instead of showing the trending page first when we log in why cant it show the new posts giving the people a better chance. The voting system on here is targeted at the same members over and over. its not done fairly.

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I personally always go to the 'New' or 'Active' page to look for interesting stuff. Followed by my personal Feed page.

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I understand your concern. If you were famous, you'd attract a lot of attention too. People who are famous are just that, they automatically attract their fans. They didn't get those fans for no reason. They worked for them basically so that's their reward for the work they did. There's nothing wrong with that if you ask me. Having said that i understand how our posts won't get as much attention initially as them, but it doesn't mean Steemit won't serve you well if you consistently provide unique and original content that gives value to the community.

I'm not a whale or anything close but i can say I'm a living testimony of the evidence of the rewards at least however 'little'(I'm grateful, happy and i value them so therefore they're not little.) Keep at it and you'll be fine. Don't give up. See Steemit for what it is, engage and give value to the community and the interactions alone will make you happy. If you get a reward from it, great, if not, still great :)

Is Steemit as good as everyone says or is it... / 7-25-2016 / @kakradetome / https://steemit.com/steemit/@kakradetome/don-t-be-discouraged-when-your-post-doesn-t-receive-traction-enjoy-steemit-for-what-it-is-and-be-grateful-for-whatever-you-get / Don't be discouraged

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Im trying not to be just think steemit could help so many people who need it but there posts arent getting the attention they deserve.

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It will with time. Just keep at it and build the connections and followers. Eventually you'll be fine. Remember your first day at school and how you didn't have a lot of friends and attention compared to the last of school of how many friends and attention you had :) You'll be fine. Keep at it providing unique consistent and original quality and you'll be fine :)

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erm I hated my first day at school and hated my last i was bullied the whole time by my so called friends lol

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Sorry to here that Karen. You're a very strong person and I'm 100% positive the experience you'll have on Steemit will overshadow any bad you ever had. In the beginning it can be hard but keep at it and don't worry ok.

Don't be discouraged / 7-25-2016 / @kakradetome / https://steemit.com/steemit/@kakradetome/don-t-be-discouraged-when-your-post-doesn-t-receive-traction-enjoy-steemit-for-what-it-is-and-be-grateful-for-whatever-you-get / Don't be discouraged

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@berniesanders is someone who's considered as a Whale on Steemit. A Whale is someone with significant amount of influence(Steem power) on Steemit.

How can I earn money?