Steem, Steem Dollars and Steem Power
There are three cryptocurrencies associated with steemit.
Steem, Steem Dollars and Steem Power.
STEEM
Steem is the native cryptocurrency of steemit. It is a speculative tool. It sucks to hold it for long term use because of inflation. Yep! it is subject to inflation. It is constantly increasing in supply by 100% per year. That means that steem is diluted by 0.19% per day. It is therefore adviseable to hold steem only when liquidity is needful.
Steem dollars is pegged to the USD to guide against volatility and ensure that the value of your earning is fixed and predictable when you sell it. Cryptocurrencies are very volatile and it won't make sence that youearn $100 in a post but when you want to convert it it becomes $80 because of market volatility.STEEM DOLLARS
STEEM POWER
Steem power is my favourite. I believe that investing in steempower is the best investment of 2017. slSteempower is like buying shares in steemit. It gives you power and influence in the platform. If a guy like @jerrybanfield should upvote your post, you would get $10 from that single upvote. Right now I have close to 700 steem in SP(steem power) and my upvote is worth about 10 cents(it was 2 cents when I made the video below). That difference is because @jerrybanfield has more steempower than me.
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Those are the cryptocurrecies associated with steemit. You can read more about them from the steemit whitepaper here..
Thank you for reading and watching. Leave a comment below if you have any questions or contributions, I like upvoting comments. #winks
Sundayselfies contest holds tommorow.
I'll be giving away $15 to 3 selfielicious people.
click the link below for more information.
https://steemit.com/photography/@tojukaka/sunday-selfies-contest
Thank you for always enlighten new beginners like me. Hope to get better with all this information given. Bless you.
Haha @tojukaka you called @jerrybanfield Jerry banifield lol. Love your work. The next big whale
Upvoted and resteemed mehn.
OMG I just needed this! Haha I joined Steemit 3 days ago but I never actually understood this currency part no matter how many tutorials I watched. This was really helpful, I understand it a bit better now.
Yea, different tutors with different approach. I guess you just found the one that's best for you
I hope you get your steem power to 10 dollars!
great post buddy,, so intersting information for me
keep it @tojukaka
visit my post if you like about cryptocurrency, and please help be upvote and resteem.
https://steemit.com/cryptocurrency/@wahyue/how-to-mine-litecoins-and-dogecoins-is-it-worth-your-time-to-mine-for-cryptocoins
Hi bro follow and vote back..
9ce one. It's actually 13 weeks now to power down "Steem Power" completely.
I fully understand the part of steempower But I'm still confused with steem and steemdollar.
What do u mean by when liquidity is low. And can I earn $100 and at conversion have $80. If yes, why and what can I do to favour me
You need to read this post, @ewuoso
Steem Dollar is a smart contract design to peg his value to USD. It's base on Steem value in the market...that's where liquidity come from...so it's fluctuate, but around 1 USD. Some economics are in play here.
tojukaka really very nice post and video too best of luck have a good day ahead thankyou
very informative [post about Steem, Steem Dollars and Steem Power. learned more from your post. I need your help if you can i will be very thankful. please tell me how to increase Bandwidth my bandwidth is in negative. help man!