@mindhunter Talks About The Basics Of The Steemit Wallet For Newbies And What Everything Means?! [I Wish They Had This Vid When I Joined Steemit!]

5 months ago
72 in steemit

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70
  ·  5 months ago

I don't think your explanation of STEEM Power is very accurate.

You say that STEEM Power means the 'amount of influence that your articles have on Steemit' and STEEM Power means the 'amount of upvotes you will receive'.

This isn't true. STEEM Power means the influence your VOTING has on the rewards payout.

The description in the wallet explains it well

Influence tokens which give you more control over post payouts and allow you to earn on curation rewards.

I think it's super important that authors know that they do not need to have STEEM Power to earn good rewards. As such a model would be very unattractive to most.

They only need to attract STEEM Power fuelled votes to their content.

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67
  ·  5 months ago

Isn't SP my investment on long term?
Therefore more/ less valuable when voting ?

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70
  ·  5 months ago

Yes - SP is locked up STEEM that attracts interest and gives determines the weight of your vote.

I gave a high level explanation of the difference between SP and STEEM in a comment a couple of weeks ago,
https://steemit.com/steem/@xtrodinarypilot/usd10-000-in-steem-or-steem-power-please-help-my-wife-says-no-usd10-000-on-her#@nanzo-scoop/re-xtrodinarypilot-usd10-000-in-steem-or-steem-power-please-help-my-wife-says-no-usd10-000-on-her-20170305t231720890z

Hopefully it is useful.

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67
  ·  5 months ago

Perfect !! It's a shame that I miss so many great articles. . . So Helpful!
Danke vielmals.

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67
  ·  5 months ago

You should write your own article in this topic please.

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72
  ·  5 months ago

I agree on the wallet statement, but if that were true, why don't we ever see Reputations of 45 on the Trending Page?? I've seen Reputational content at 45 much better than that of 70. Why are they not attracting SP fuelled votes to their content? There is more to this SP algorithm than just words describing a wallet.

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70
  ·  5 months ago

What you're talking about has less to do with the algorithm and more to do with how people subjectively decide to vote.

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72
  ·  5 months ago

After having watched millions of posts and the way they behave, I don't believe that. There is something in Steemit beyond subjectivity, but I can't put my finger on it? Junk code? A ghost in the machine? Quantum fluctuations? There is something more than just subjective minds on here ... something beyond the basic wallet definition of SP.

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70
  ·  5 months ago

You're entitled to believe that. However unless you can point to the code that confirms this, I ask you distinguish your opinion from statements of fact as to how the platform works.

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72
  ·  5 months ago

All code is a sentient being of some kind. No man or code lives in a non-quantum universe. To deny it is to deny ourselves. There is more to Steemit than just your cold coding facts ;) I've seen Ethereum do the strangest things also. Things beyond facts. They cannot be discounted as just opinions ... or facts?! I wonder what we can call them??

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70
  ·  5 months ago

@mindhunter maybe if you started the video with the assertion that "all code is a sentient being...", then the viewer would be able to frame its content in its proper context.

50
  ·  5 months ago

Thank you for sharing this video! For a newbie minnow like me, this explains a lot in a concise manner. I want to check out your other videos now.

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72
  ·  5 months ago

Thanks @lalithmonisha - I hope you enjoy the other vids :)

62
  ·  5 months ago

Excellent introduction, @mindhunter.
Thank you.
I wish that this explainer video was available when I first joined @Steemit.

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72
  ·  5 months ago

Wallet basics was the very first thing I struggled with on Steemit - I hope this helps :) Thanks for passing by Nigel.

67
  ·  5 months ago

I am still confused about SD

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72
  ·  5 months ago

Just think of it as a REAL DOLLAR and ask yourself - 'How much Steem does my real dollar buy me?' If you have $1 and the Steem price is $0.20 you get 5 Steem - on conversion of your SD!

56
  ·  5 months ago

I believe that Steemit will be the teaching mechanism for blockchain technology.. So SP will back the user with data/influence of representation, and more importantly the representation of the blockchain!

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72
  ·  5 months ago

Steemit is a great blockchain app - why not an Enterprise and Govt version too? SteemEnterprise (boring term!) or SteemGov.com - run all operations on Steem - probably more ideal for small and medium enterprises. SteemSME.com??

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56
  ·  5 months ago

I couldnt agree more and realize Steemit will be the teaching curve for all crypto applications!

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72
  ·  5 months ago

It's a great benchmark for the future once governments start to jump on to save cost!

60
  ·  5 months ago

Thanks @mindhunter for this video! This explains lots to me and to many of us! I will look for the others you have and learn! =)

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72
  ·  5 months ago

Thanks @manandezo - I hope you can find a new avatar soon :))

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60
  ·  5 months ago

Is this ok? =)
Aang_meditates.png

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72
  ·  5 months ago

That is a very clever avatar - it looks like spoon boy from The Matrix movie!

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60
  ·  5 months ago

LOL! Ang, the Spoon Boy!

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72
  ·  5 months ago

Oh! That was his name. Thanks. I liked Sati the little girl in the third movie.