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RE: UPDATED - Steemit FAQ Part 4 - "Payouts"
Suuuuuper helpful post. Brand new singer-songwriter on here (a little over-eager.. I already have videos up after less than 2 days!), and I found this pretty confusing. Thanks! Gonna follow. ;)
Hopefully, you're getting more acquainted with things. Things have been changing here quickly, so some of this information is now out of date. However, it still gives a good idea about how things work.