Made clear: STEEM, STEEM DOLLAR and STEEM POWER
Let me present you a visualization for the relationship between the most important things of Steemit:
Steem easy to do but hard to master
I went through the whitepaper and in parallel made the connections how Steem, Steempower and Steem dollars work together.
The following things have to be added by me later as I further understand it:
- Steem to BTC
- Visualisation of voting/reward
- closer look in buying and selling steem and steem dollar
- more appealing desing :D
- VESTS
But I hope I got the most important parts in and it helps you to better understand the relationship!
Excellent diagram! The part that's still the most confusing is the difference between Steem and Steem Dollars. Any updates on that would be much appreciated.
Thank you very much!
You are right, that is the topic where I'm still connecting dots.
I will definitly update it in the coming days.
I like! And yes update but still nice!
Thank you!
Thanks for this. How much my Steem Dollars and Steem Power are worth is one of the bigger questions in my mind. There is a worryingly denoted 'estimate' on the wallet; why dont Steemit know what they are worth?
Thanks! Getting some insight in the mechanism of how the value is calculated would be great. I'll add this to my list!
For just the price of Steem you can check http://www.steemdollar.com/steem.php
Good post! However, it's still not very clear to me how the liquidity reward works. In particular: does everyone's LP get reset when the reward is given?
Yeah I should make this vlear in the graphic.
Whitepaper says only the rewarded one and inactive ones get resettet.
So sooner or later you should get the reward.
awesome! thank you for your answer.
Nice work! Engineers > *