Guide for Steemit (Part 1): Introduction, basic concepts and recommendations.
hello friends Steemians!
If you arrived here it is because you are new and you must have some doubt, and yes, it is normal to be lost when you first enter Steemit. Especially since it is a world a bit complex and that causes a sometimes strong impact. But today I want to share with you a little bit of my knowledge on the platform and why I have stayed here insistent.
Image of my authorship
I want to make it clear that many of the concepts and strategies explained here are from my perspective, and that they may not be entirely correct.
In the same way, what I am looking for is to help people who have doubts and start at Steemit.
Here I leave some basic concepts that will be very useful in your stay by Steemit, I hope you serve.
What is Steemit?
It is a social network that adopts the creation of content (post and comments), and the reward with the use of a cryptocurrency called Steem Dollars (SBD). The platform was founded by Ned Scott and Dan Larimer, in March 2016.
Steemit is founded on three basic principles:
- Everyone who contributes in one way or another to the community, should be rewarded by obtaining a portion of the company's shares.
- All capital is equally valuable. This means that if you invest money buying SBD or investing time to post content or voting, you should be equally rewarded.
- Steemit is a closed community and all content produced is for the use of the members.
Now let's start with the basics ...
What is the SBD, SP and STEEM?
The STEEM and the Steem Dollar (SBD) are the cryptocurrencies that are mined and that can be exchanged in the exchange (exchange houses) for other cryptocurrencies or dollars.
In my case, I have changed the SBD to Bolivars through Steemit users created for that.
The way to earn them is what sets them apart. SBDs are earned by publishing.
The Steem Power or SP is the total number of shares you own in Steemit. That is, the more you have, the higher your income corresponds to the profits. The Steem power will also influence the amount of profit that you will give to a post or publication, that is to say that the higher it is, the more profit you can give to the publication. The way to earn SP is by publishing or curing.
What is "curation"?
It is the mechanism established by Steemit, through which we give a vote to a post, and from which we receive a reward in Steem power. This reward will depend on different factors explained later.
How are profits distributed?
75% of the total earned in the post is for the author and the remaining 25% is distributed among the curators and the author. This distribution is made according to the moment in which the Upvote is granted to the publication, being as follows:
| Time | Profit |
|---|---|
| 0 to 2 minutes | 100% SP for the author |
| 3 to 14 minutes | 10% SP of 25% for the curator |
| 15 to 26 minutes | 50% SP of 25% for the curator |
| 27 to 30 minutes | 90% SP of 25% for the curator |
| After 30 minutes | 100% SP of 25% for the curator |
Note that these percentages are valid as long as the post has not been famous, that is, the ideal is to vote after 30 minutes but be the first 10 voters, this is designed so that the boots do not keep the most of the income.
Voting power
Now I know that many are asking: can I just vote and with this get SP high? Well, no.
We must bear in mind that there is another concept called "Voting power" which is our voting power in each publication and is called as a percentage, and it decreases as we vote. Therefore, we must make a prudent number of daily votes to avoid reaching 0%. However, to let time pass this value is regenerated.
One piece of advice, periodically check Voting power. This is not done directly from Steemit, but with third-party sites. I use www.steemnow.com
What are the whales?
They are the users who own large amounts of SP and who with a single vote can contribute a large amount of profit to the post.
Finally, and as I explained in previous posts, Steemit is not a social network where you will see quick results, everything is a matter of dedication, commitment and perseverance. But I assure you that when you manage to understand everything and make good use of the platform, you will be happy with the results.
Very educative post. How can we access the whales? 😂
Hahahaha hello! because the truth I am still in search of that answer but little by little, I hope to be one day ;)
Marinés, I have been around here for some weeks now and it wasn't until I found your post that I could understand some basic stuff from around here that for some reason no one talk about! like the profit table you got there. So simple! thanks so much for this content, it was really useful and I'm sure it will help a lot of new steemians to save some time getting to know what is going on around here!
Hi! It's good that my publication has served you. The truth to me also cost me to learn certain things and that is why I decided to share them. Greetings.
That’s a great initiative from you. All new, and not so new, steemians should be greatful for these kind of posts.
Have a nice day!
@art.love.life check out this post, it will help you with some of the basics of the platform :D