Explanation difference between STEEM, STEEM POWER and STEEM DOLLARS
Many people are confused by steem, steem power and steem dollars. Let me clarify it for you.
STEEM – tradeable tokens that may be transferred into STEEM POWER. You can buy it on currency exchange such as bittrex.com. STEEM is not meant to be a way to store value, because total number of STEEM doubles each year.
Steem Power (SP) – influence tokens that earn more power for holding long term and voting on posts. The more SP you hold the more you can influence other’s rewards. You can get SP for posting and voting valuable content. SP gives you stronger voting influence.
Steem Dollars (SD) – tokens which are worth about $1.00 each. You will get paid partly in Steem Dollars by posting and voting. You can sell or transfer them into Steem, Bitcoin, or other currencies.
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Great tank you :)
But where convert steam dollars?
I thought SP also slowly turns into STEEM, doesn't it?
No. You have to actively power down to turn it into Steem (which happens slowly over two years). It stops gaining interest while you do this.