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RE: The first phase of the Steem FAQ and Wikee: Consolidation of Knowledge
What's the difference between STEEM, STEEM POWER AND STEEM DOLLARS?
What's the difference between STEEM, STEEM POWER AND STEEM DOLLARS?
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.
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 DollarSteam, 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.
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.
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.
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.
from here: https://steemit.com/steem-help/@fran2k/steem-network-asset-classes-steem-steem-power-and-steem-dollar-explained-in-one-chart