Who Pays People On Steemit? Do You have to Pay Anything? Case Solved.steemCreated with Sketch.

in #steemit7 years ago

Short answer: Steem.


Longer answer:

  • You Do Not Pay for Anything out of Your Pocket.
  • When you Upvote you don't Pay Anything. Ever
  • Steem pays people who get Upvotes.

How Steemit decide how much to pay for an upvote?

Steemit firstly considers Upvoter's Steem Power.

  • Upvoter's Steem Power is determined by how much money
    Upvoter has in his/her own Steem Power Account.

That means if you have 0 Steem Power, your upvotes will be worth = $0

  • If you want to take this train of opportunity called Steem
  • If you want to Crush it here, and become rich while giving value to the world
  • If so, you must Understand How Steem Works.

How do Steem currencies work and where to keep my money, when I make it?


Read carefully thru this Part and you will Understand how Exactly steem currency works.
I will keep the answer as short as humanly possible and to the point.

Let's Look into a wallet: transfersz.jpg

Using @JerryBanfield's Wallet for an example hope he doesn't mind.

Steem
Steem Power
Steem Dollar

How it works?

  • You only can turn Steem into real money
  • You can turn Steem power, within 13 payments throughout 3 months of time into Steem(that you can later turn into cash)
  • When you want to cash steem you transfer Steem into Bitcoin and transfer Bitcoin into real money.
  • 🅲🆁🅸🆃🅸🅲🅰🅻 🅿🅾🅸🅽🆃 Steem Power Grows in value as Steem Coin value Grows on the Market.
  • More Steem Power you have More power you will have Within the Steemit community. Your Upvote will earn other people more money than a newbie's Upvote depending on how much Power you have.
  • Jerry's Upvote will be worth around $2, newbies upvote = $0-$0.01.
  • It's a lot more valueable for you if Jerry follows you which means potential Upvotes from him in future($0.5-$5 per 1 Upvote) than if a newbie follows you and brings potential $0-0.01 Upvotes since he does not have Power yet.

So where the heck should You keep your steem moneyz?

Answer: Steem Power. Why? Because Steem Power will grow as Steems Market Cap goes up. If you have $20 in Steem power today, 1 year from now that 20 will be worth $100-$200 (depending on how fast Steemit value will go up)
Just take a look at what the most successful Steemians are doing.


Jerry keeps his moneyz in steem power

transfers.jpg

@trafalgar keeps his money on Steem Power.

transferszz.jpg
I can give you a ton more examples but that's not the point.

Conclusion. Don't overthink it. Focus on making as much Steem Power as possible and hold it until steemit value skyrockets, and you are rich.


Now you Understand Steemit. Please Upvote if you Found this Valuable!


I will Explain Steemit More in my Future posts so be sure to follow :)

Thank you so much for stopping by for my content it really means a lot to me!

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Extremely helpful and might I say needed info on my end.
This community is always trying to help and the system rewards you for it.
Thank you @adil

I am happy to Provide Value! followed you to connect more in future!

That helps...I'm still trying to conceptualize all of this platform. It's truly remarkable. So what does it mean when I have in my wallet "Steam Power = 1.340 STEEM (+72.563 STEEM" Is the 72 SBD?

As of now 1 Steem Power in your wallet will be equal to $2.08 U.s. Dollars. Not sure about SBD!

Thanks for making it simple. I've seen Jerry Banfield's name around a bit so I will soon look up who he is. I was told anyway that with bitshares you can directly convert Steem to Euros or US Dollars, is this true?

My research tells me that you have to Transfer Steem into Bitcoin first, Then you can convert to Euros or $$$. Maybe Bitshares made it available recently, in which case it's even better!

Thank you for sharing this, I wish I could resteem it - but the link is absent!

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