RE: Some questions about steem

You are viewing a single comment's thread from:

RE: Some questions about steem

View the full context

gavvet (78)in #steemhelp • 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.

8 years ago in #steemhelp by gavvet (78)

Sort:

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

[-]

mostar (49) 8 years ago

You will get them at 4th of july

$0.93

2 votes

[-]

dedmatvey (58) 8 years ago

How did you found the time?

$0.00

[-]

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.