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RE: Steem: An In-Depth Overview!
I get Steem Power,
but I dont understant the Difference between Steem and Steem Dollar, Both can be sold on exchange to buy Bitcoin, Then what is the difference ? @teamSteem
Steem Back Dollar.
If you look in the wallet, next to Steem Back Dollar, there's a button called "convert". If you convert Steem Back Dollar today you would have a bit less than 4 Steem because Steem is worth around 27 cents. If the price of Steem was worth 1 dollar you'd receive only 1 Steem and if the price of Steem was 2$ you'd receive 0.5 Steem and so on. This process take 3.5 days.
Thank you for your great question. I'll think about adding the information to the post.
Ok.. but What is Steem in my wallet.. I understand SBD.. but not Steem.. @TeamSteem I am sorry I still dont understand Steem
Steem are Steem that haven't been powered up. Steem don't give voting power and down generate interest. Even if you'd had 1,000,000 Steem if they aren't power up you're vote will be worth $0. You can send Steem to anyone and thus to exchanges to sell them but you can't sell Steem Power. To sell Steem Power you have to power them down. If you still have any problem understanding it, just let me know.
How Do I earn or get Steem?
When I create a post, I get SBD and Steem power, how do I get Steem.. wait.. SBD cant be traded at exchange..? Well this 3-tier currency system is like Rubiks cube, you solve one side and the other one goes bad. See I am a perfect example of a common user who only knows his photography. Even If I understand this today, I will forget it tomorrow. You need to simplify this. Why cant you remove Steem and Just have two: Steem Power and Steem Dollar.. OR maybe Rename Steem to something else...or maybe add a word after Steem.. that represents what it actually is @TeamSteem
Steem fluctuate in price. SBD don't fluctuate. They are worth 1USD back by Steem.
You receive SBD, Steem and Steem Power when you post. It's possible that sometimes you won't receive any SBD for a post. But that's for another time. Now I think you should get it.
We can't remove them or we could but that would be removing nice functionality.
Oh..what? suppose I have $10 SBD today and today steem price is 0.28 cents ....and in next month steem price is 0.33 cents... and if I still have $10 SBD .. what is the value of my SBD in both cases............suppose I hold $10 SBD for 2 years and steem price is $5 then what... BUT you say SBD price doesnt not fluctuate.. Suppose I want to hold my Steem earnings for long term and I am betting on a big price increase in next 5 years.. Which currency I should be holding my earnings out of the 3 currencies..? Which would be the most profitable....*I am sorry again .. I remain confused. @TeamSteem and you also said "You receive SBD, Steem and Steem Power when you post." NO I only receive SBD and Steem Power, but no STEEM check my wallet. There is no way to earn STEEM. SEE I am online and I could not understand this in 1 hour.....This is a problem... this should be simple...If I dont understand it then will i be active here..most likely not. Before I give me my time here I need to be clear... Time is a valuable thing. I still find other social media platforms easy.. alright they dont pay...but there is a lot of traffic and engagement there. My posts get like $0.3 cents I mean at least I get branding and comments on other platforms...all I see on steem all day long is bitcoin talk....and I struggle the entire day figuring this platform out.
Any of the other platform you're using hasn't built their traffic instantaneously. They gain popularity over other platform because they had something others couldn't offer and this is the case with Steem and why Steem is going to grow to be very popular.
Also simple doesn't mean it shouldn't be complex. Simple should rather be reference as build intelligently. I can't learn to fly a plane in 1 day but doesn't mean plane shouldn't exist or thatthey aren't build intelligently.
The best currency to hold long term is Steem Power.
10$ of Steem Back Dollar is worth 10$ USD no matter what the year you're in.
If you have a receipt for 10$ back by gas then the price of gas can fluctuate meaning you might have more or less depending on when you exchange your receipt but it will be 10$. The amount of gas you'll receive will fluctuate not the value of you receipt. Same will Steem Back Dollar, the only difference is they're back by Steem. So if you hold Steem Back Dollar and the price of Steem goes up you don't benefit from the price appreciation. Holding SBD is almost like holding USD.
Thank you for your perseverance.
Thank You :) but you still dint asnwer..how do I get Steem and its utility