Simply it seems unless i am completely wrong, and I have NEVER been wrong; to simplify the systems they only pay out in SP (website rewards) and Liquid Steem you can immediately transfer and spend.
So let us look at that idea. Steem POWER is just enhanced website platform rewards, but pays 120 % interest over the year.
STEEM is unofficially called LIQUID STEEM because you can SELL it IMMEDIATELY. It is a cryptocurrency; that means internet money that you can trade for other cyber monies like BITCOIN. BITCOIN is the powerful internet money that is worth a lot more than the US$ or Euro or GBP. The reason people buy BITCOINS is some people trust the electronic internet marketplaces far more than the White House or # 10 Downing Street. After all it is no use having five thousand pounds in the Bank of England if BRITEX destroys the British economy, thus people spread their risk. BITCOIN is very expensive ! ! !
Steem Dollars are what you buy your new bikini with over the internet from Amazon. It is simply an internet money that trades differently from Liquid Steem. You would use that link to sell your Liquid Steem for SBD (dollars) if you needed that different currency.
Remember some people make money day trading these internet coins and they make profits (or losses) by the trading margins (differences) between swapping STEEM for SBD etc.
So to simplify the Steemit platform people now no longer gain Steem Dollars regularly, but they still exist (and I suspect) you would still have internest paid on them.
Personally I am glad they got rid of steem dollars becasue it simplifies the Steemit system; although I did not notice they took them away from the rewards, after all I do not care what my supervisors are doing... I just "work here" I do not make policy I just show up and they pay me . . .
I can explain the entire process, but your first time it is a bit complicated . . .
Like maybe the first time you programmed a video cassette recorder or the timer on your microwave oven.
The truth is , yes really you can take this internet money and turn it into plastic notes you can use at your local supermarket ! ! !
So no its not some great cosmic conspiracy just to con 9 people out of their internet savings : )
The reason it is complicated is you need two intermediate websites, currency exchanges to change Steem into Bitcoin and then Bitcoin into human money . . .
That means you register online like any other website, but you must go to the effort of creating the account.
Then you must prove your real life identity . . . (a fairly easy risk minimal process) ; but still effort ! ! !
Then link your real life bank account to that internet currency exchange...
With the fees and exchange rates and the USA election days away this is not the time to be experimenting unless you are seeking pure fun : )
The uncertainty of the American election has caused untold turmoil in the worlds economies including your own cryptocurrencies ; )
Simply it seems unless i am completely wrong, and I have NEVER been wrong; to simplify the systems they only pay out in SP (website rewards) and Liquid Steem you can immediately transfer and spend.
So let us look at that idea. Steem POWER is just enhanced website platform rewards, but pays 120 % interest over the year.
STEEM is unofficially called LIQUID STEEM because you can SELL it IMMEDIATELY. It is a cryptocurrency; that means internet money that you can trade for other cyber monies like BITCOIN. BITCOIN is the powerful internet money that is worth a lot more than the US$ or Euro or GBP. The reason people buy BITCOINS is some people trust the electronic internet marketplaces far more than the White House or # 10 Downing Street. After all it is no use having five thousand pounds in the Bank of England if BRITEX destroys the British economy, thus people spread their risk. BITCOIN is very expensive ! ! !
Steem Dollars are what you buy your new bikini with over the internet from Amazon. It is simply an internet money that trades differently from Liquid Steem. You would use that link to sell your Liquid Steem for SBD (dollars) if you needed that different currency.
Remember some people make money day trading these internet coins and they make profits (or losses) by the trading margins (differences) between swapping STEEM for SBD etc.
So to simplify the Steemit platform people now no longer gain Steem Dollars regularly, but they still exist (and I suspect) you would still have internest paid on them.
Personally I am glad they got rid of steem dollars becasue it simplifies the Steemit system; although I did not notice they took them away from the rewards, after all I do not care what my supervisors are doing... I just "work here" I do not make policy I just show up and they pay me . . .
I would like to cash out once just so I can say I have done it. But now I haven't a clue what i have if anything
I can explain the entire process, but your first time it is a bit complicated . . .
Like maybe the first time you programmed a video cassette recorder or the timer on your microwave oven.
The truth is , yes really you can take this internet money and turn it into plastic notes you can use at your local supermarket ! ! !
So no its not some great cosmic conspiracy just to con 9 people out of their internet savings : )
The reason it is complicated is you need two intermediate websites, currency exchanges to change Steem into Bitcoin and then Bitcoin into human money . . .
That means you register online like any other website, but you must go to the effort of creating the account.
Then you must prove your real life identity . . . (a fairly easy risk minimal process) ; but still effort ! ! !
Then link your real life bank account to that internet currency exchange...
With the fees and exchange rates and the USA election days away this is not the time to be experimenting unless you are seeking pure fun : )
The uncertainty of the American election has caused untold turmoil in the worlds economies including your own cryptocurrencies ; )
Your government are going to be as bad as ours, lock the lot of them up and throw away the keys