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RE: 24 Hours Later: Thoughts on Steem So Far - Charlie Shrem
There is a very easy way to explain the three assets on steem:
- SteemDollars are used to reward people in something they understand and that is liquid. It has a face value of $1 and could be used as such
- SteemPower is a portion of your reward paid as STOCK in the company similar to like Microsoft and Google offers to their employees
- STEEM is an on-/off-ramp into the traditional (bitcoin dominated) crypto currency space.
Initially I started powering down my SP. Last night I cancelled the power down when I learnt more about SP. I'm looking forward to using my reputation and SP to reward others for good content thus increasing the platform.
Great plan!
Agree conceptually but since there is an actual Steemit company (which has developed and continues to develop the software), it is important to make the distinction that this is not STOCK in the company. It functions economically much like STOCK in the blockchain itself. Of course it isn't literally that either, but it is a useful analogy.