Get Started Fast with Steemit / For New Steemains
Thank You For Your Support and For Honoring Me With Your Up Vote...
Steemit is a blogging-centric social network where you do get paid for
creating and upvoting content.
Steemit is about building a community of high-quality people and
financing the production of the highest quality content.
Below you will find a series of short posts.
If you are new here..
Study it, Enjoy..
Why Steemit Will Revolutionize The Industry !
Whales, Dolphins and Minnows !
What is A Steemit Slider Bar !
Buying Steem Power With SBD or BTC !
Every comment, every upvote, every support is really appreciated.
Thanks For Reading,
@lordoftruth
Samer
Thanks, very helpful, having important informations in a place to start
Hi @lordoftruth,
Overall these are a great set of articles! Here are just a few comments from me:
Wonder if it would be possible to create a single article rather than many - or would that go over the word limit? I just wonder if it's a quite difficult to keep track of all that info, from your point of view, too, when it's spread out. But I guess if you just made a single article you'd want to condense it, which would of course mean missing out some info which the user might want to know.
You mention that it's 7 days to convert SBD to dollars via the automatic process, but i think that's out of date and it's now somewhere around 3.5 days (from the FAQ) or 3 days (shown on the steemit wallet). I think https://steemit.com/faq.html seems to be pretty up-to-date, so I would check over that if you haven't already. In any case, the point of this is just to ensure that SBD should never fall below USD value...users would generally always want to use the internal market instead (unless of SBD was actually trading significantly below USD value).
Similar to above point: You mention SBD paying 10% interest? But I don't see anything in the wallet (it says 0%), or the FAQ - so I wonder if that's just completely been removed (although I may have missed it), but I don't know.
I would probably try to put in some more emphasis on the differences between STEEM and STEEM POWER, and what the precise benifits of these two things are: STEEM - advantage: can be sold at any time; disadvantage: provides no rewards to user. STEEM POWER: advantage: provides rewards from the current 9.5% in inflation, with the breakdown: 75% goes to authors/curators (with split 25% / 75% respectively), 15% is paid in interest, and 10% is split between witnesses; disadvantage: its semi-locked for 13 weeks (where conversion back to steem over this time is linear).
Maybe not something to include in your article, but it's interesting any way. I think the main/original point of SBDs was that a user that didn't want to keep their money in Steem, due to volatility risk, could use SBDs instead. But why not just cash out to USD? Well, cashing out to USD means selling steem which puts a downward presure on the price of steem. However converting to SBD doesn't necessarily cause this same downward presure because steemit would simply create and destroy new SBD 'out of thin air' but using the backing of the very large steem funds they hold in their account. Anyway, it's really complicated stuff, and probably one reason why they might even be considering removing it by the sound of it. But as in say, i think the whole point was that users would circulate SBD instead of cashing out to USD and therefore reduce downward pressure on the steem price. Really, it was a genius idea :) However, the main drawback is that steemit has to take on the whole downside risk because it's 'shorting' the SBD into existance! But, you can always try contacting @dantheman if you wanted to get to the bottom of this, because my comments here are just my very rough idea which may or may not be actually correct.
Everything in One Post thanks for this post
Thanks for support
Steem on
Will be reading it all this morning, gotta step my game up :)
Very good train, if somewhere I have a steemit logo, I would not choose another mode of transportation. The train will always be my subscription.
Very nice
very helpful thread. thanks :)
Yes indeed , this is great . I will look at all the links today. Thanks!
This is fine well done
well you have my vote, only that it isnt worth much, "yet" --or "anymore"
i dont know which one it is xD