RE: Steem Vs. Ripple: A Comparative Guide
Help me understand what you mean by saying Steam has a daily trading volume of $100 million, I bought in a couple hundred dollars and converted to steam power as I thought I was suppose to/ able to do and then when I tried to trade it the system with no explanation just wiped up my accumulated earnings (about $35 dollars) and then I read somewhere on the site something like it takes 36 months to divest (power down)....hardly a trading platform, rather a capture and hold my cash platform...? I then went in to reverse the power down and all of the accumulated value and my ability to up vote others went away?? I now get a message that says I have insufficient funds to promote (which is what I tried to do here before posting this comment!?! I'm guessing (know!) that I still don't clearly understand how this all works, it's clear as mud to me...last comment, I posted several times early on and all I saw was a couple cents of promotion or steam contributed my way, again I just don't understand how some posts have hundreds of dollars in upvoting value, and most have one or two cents...it feels from the outside like if you don't understand the system, or if you are not an insider then you are simply a target or chump? I'd guess many feel or have experienced similar things trying to figure this out?!? Would really appreciate any comments or insights from anyone...thanks in advance!
Hi, I won't try for a full explanation (there are ppl far more qualified than me). I'm still quite new and there's a BIG learning curve assoc with Steem/Steemit, which I think is & will hold the platform back. First...once you convert to Steem Power, you're not locked in for 36 months. If you want out, it takes 13 weeks to "power down"...where you receive 13 weekly payments to completely get all your $$ back.
I'd start by reading the FAQs and any posts you can find on the subject of how money/transactions work. And try to stop thinking in USD when you see monetary amounts on here. Also, look at your own posts/comments to compare what you think you're earning as to what you actually do (after 7 days) - then try doing this with other people's posts too. That might help.
To promote, best option I've come across is MinnowBooster, but I think you have to pay in SBD, not SP - they at least give you a chance to break even, or make slight profit on your investment. And I wouldn't touch the other upvote bots - the winners are those running them. If you want to promote, make sure it's a quality post and think of it as advertising, where you're going for exposure, rather than trying to make money on the post.
Lastly, you have to be patient (just as I do). It's hard sometimes when you see others getting big payouts, but that will come once you've attracted an audience (of people actually interested in what you have to say - not just numbers for the sake of it). Anyway, good luck :)