the Steem / Steemit CIRCLE
Economies only work when money is flowing from hand to hand. For that we need to earn money and we need to spend money. In the traditional world we do this with our nations FIAT money, US Dollar, Euro, or whatever currency we have in our traditional economy.
For most of the crypto currencies out there, we can earn them, we can hold them, we can trade them but we cannot use them to buy what we need.
Steem is Different!
Although some Steemians shout loud (less or more) we need to create marketplaces where we can spend Steem. Otherwise what can we do with Steem? Otherwise what will make people invest in Steem?
Steem is Circular by Nature...
image: THE ROAD TO WEALTH
The economy is growing, I can list several example of goods and services for a fee on steemit.
Yep, correct, I can list them too :) We are heading somewhere, in small steps, but small steps are taken indeed.
This is the cycle I’m following!
It a Super Power circle :)
Great summary of how these fit together. Most posts on this topic go on for paragraphs but you have accomplished the same with one image.
Thanks, I try to make things simple :)
Thanks for that! I have only just figured out what the correlation is between SBD , Steem and Steem Power. I was one of the winners in @papa-pepper's selfie contest and he wrote a post giving some advice about what to do about our SBD winnings. Your diagram is great. It puts a visual in my mind to remember!
Cool! Use either the internal market or external exchanges to convert SBD to Steem and power up. Especially last days/week(s) SBD value is super high and you'll get a lot of Steem for it, which means a lot of Steem Power.
Yes, that's what I did! I was blown away when my winnings came to close to 1,000 Steem! I then powered that up and converted my other SBD to Steem and I was a happy camper! I had not messed with SBD, so it was just sitting there.
Little tip: SBD is spiking in value quite frequently; When you set sell orders for SBD at some value you expect such future spike will get to, you get even more Steem for it. But that is a traders view and to some extend crystal ball viewpoint since nothing is guaranteed. Maybe no spikes anymore, maybe SBD/Steem ratio smaller. But still, wanted to mention this :)
Thanks for that tip. I didn't know I could do that.
You're Welcome :)
Congratulation
Today one year ago you joined SteemItThank you, for making SteemIt great and Steem on for more years to come!
(You are being celebrated here)
Congratulations @edje! You have received a personal award!
Click on the badge to view your own Board of Honor on SteemitBoard.