Some questions about steem

dedmatvey (58)in #steemhelp • 8 years ago

Hey guys! I`m here about 2 weeks. But so far, I have not understood how it works

Please, answer a few questions
I think they will be helpful to many

What is the difference between steem power and steem?
STEEM DOLLARS are awarded only for votes for your posts?
STEEM DOLLAR is equal to the dollar? If so, where it is being exchanged?
What is the correlation between the STEEM power and the accrual to the author for vote?
Depends the income of STEEM power from the posts, topics and other activities? What is the relationship, if so?
What is "Power down" in wallet? Nothing happens, when I click it

Thank you for your answers :)

8 years ago in #steemhelp by dedmatvey (58)

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gavvet (78) 8 years ago

Steem is volatile crypto-currency that can be freely traded
Steem Power is steem that's locked up to give you voting power.
STEEM DOLLARS are awarded for post, votes and comments.
STEEM power, the more you have the more accrues to those you vote for providing you don't vote too much in a 24 hour period.
There are complex algorithms that work this out, look under trending topics to find explanations of how these thing depend on each other.
Power down converts Steem Power to Steem when you need to cash in or trade Steem.... but does so weekly over 2 years.

I hope this helps, other correct me if I am wrong.

$234.38

14 votes

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dedmatvey (58) 8 years ago

Thanks
But...
1)Can you explain what you meen "but does so weekly over 2 years"? Is it mean than i`ll need click on "Power down" every week over 2 years to convert Steem Power in Steem?? 0_o

And... You got 10 votes for this post. The counter shows $ 51.70. When you get these funds?

$0.00

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mostar (49) 8 years ago

You will get them at 4th of july

$0.93

2 votes

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dedmatvey (58) 8 years ago

How did you found the time?

$0.00

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gavvet (78) 8 years ago (edited)

Once you power down the payments are automatic, one per week until all is payed out, Its to stabilize the currency and not have everybody dump it all at once and exacerbate volatility.
The author, if this is a top level post, gets about half of $ 51.70 for payouts. This will happen on the 4th of July for all posts, comments, votes etc. and from then on daily.