So You Just Earned Your First Steem Dollars... Now What?

in steemit •  2 years ago


A common question I get from newcomers is in regards to the first earnings that appear in their wallet. How do I spend this? Why are there three different kinds of "steem" listed here and what the heck are they? This is a quick, basic explanation to get you rolling confidently in the right direction.


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Such a great thing to explain. I powered up once and then started doubting myself. It's good to hear a concrete answer on how this whole thing works :) i havnt yet cashed out anything but i think you're right, its smarter to do very first.

Always useful information for newcomers, keep up the good work.

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Thanks. Looks like I've pretty much just turned into a Wal-Mart greeter. lol

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Well, lately you are pretty much becoming the voice and face of Steemit.

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Still confused.

Note that when he says "voting power" what he's referring to is your upvote power. The more steem power you have, the more your upvote is worth.

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I have seen @berniesanders stomp out a 100 upvotes in one go. ;)

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lol That's so epic.

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@vapekings14 - That would definitely be unfortunate for those involved, but we can't prevent people from being children in here and ruining their own experience and investment. It seems this place may take a bit of a transition period for people to shed the old mentality of the Fisher Price brand networks such as Reddit or Facebook. I say Fisher Price because those places are toys for children to play with. Now that this is here, we can say a place like Steemit is where the adults go. And you can be an adult (in the mind) at any age you choose. This just ain't the place to pitch fits and throw flame wars. People will figure that out on their own.

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still we have to be careful if some people have personal problems with each other they shouldn't take it out on steemit down voting each other.

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Point taken!!

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Dunno why @soupper1 didn't like this, but it's not spam, so I gave it a 10% upvote to get you back out of the red. :)

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Thank you for the upvote, I'm being stalked by @soupper1!!!

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voting power is actually a measure of your votes. If you vote too frequently the percentage will go down and which mean your next votes will be worth less then before. Overtime if you wait by not voting the voting power will go back up.

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That is true, but my statement is correct nevertheless. I figured I'd not overload the new folks with the details just yet. :)

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An excellent point, technically "voting power" is something else.

I think what @piedpiper was referring to is voting influence based on Steem Power. Colloquially, "voting power" makes sense. I believe technically it's called "Round Shares".

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As means throwing a lot?

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Do upvoting give the voter any steem power or lose any steem power? Or does it only affect the post?

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nice info..thanks mate

This is a question in general, but why a video and not the written word? Is it faster? Do you write out a script for it or speak off the cuff? Do you have good video recording equipment?

For me, I am so rarely somewhere I can watch a video -- usually at work, or on my phone, it's a hassle and less efficient. But it's obviously a thing, a way to post, just one I don't totally get. Just curious, thanks.

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There are already a bazillion written guides about this stuff but in my experience running an online business, most casual users hate reading a lot of technical text... and there weren't any good videos for newcommers so I just decided to step in and meet that demand. I keep my recording gear set up at all times so it's easy to just press the magic button and begin. I never write it out beforehand because I don't have a teleprompter and I have to be able to look into the lens while speaking.

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Personally, I prefer reading written text, since I can read fairly quickly. But I agree, there are probably some people who would rather watch a short video. This one does seem to rather well done.

well, now that you have SBD - you can dump them to me on Bittrex. I am almost alone in the bid-book.

Did I hear a thank you? :D

Great post... Thanks, namaste :)

@piedpiper

I won't worry about the SD just yet.
Already make $3sd , I am waiting for more.
Convert them all to Steem power 👍👍👍🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 To da moon

Great video..

Always power up and once you are a high roller, start giving back :) We all need some upvotes to keep motivated.

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Completely agree. I love being able to encourage newcomers with my little $1 votes :)

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XD my vote gives exactly 0.00$ "Too much power"

@piedpiper, thanks for the explanation. Great video, steem on!

GREAT VIDEO....BUT AM A LITTLE CONFUSED ABOUT SOMETHING. DOES POWERING HELP YOU WHEN YOU UPVOTE.? DOES IT ADD SOMETHING TO YOU WHEN YOU UPVOTE SOMEONE'S POST.

I completely agree - Steem is really early stage and have HUGE potential to grow =)

Nice video! I'm having the same excitement with steem that I used to have with Bitcoin. Bitcoin seems so boring now. I've been powering up very slowly!

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My feelings exactly. Bitcoin got the ball rolling but this is what's gonna take cryptocurrency to the masses. :)

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The question is will the two rise together or is Steem going to totally kick Bitcoin out?

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I actually think they're rise together because we want to use bitcoin as an intermediary between us and government money... this way, the state can't regulate or interfere with steem :)

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I'm sure they will find a way to interfere, it's what they do best! But hopefully we have some time before that. Congrats on your video series. It's a great success!

Hi @piedpiper,

Would you please be so kind and comment on my post on the investment side of things. Im not looking for a vote just an honest opinion and it goes along with what your saying here.

I really enjoy your videos and thank you for your hard work.

Thank you so much,

Thanks for this, whats the point in transferring my steam dollars to steem power(the one that takes 7 days) why not just buy or sell on the market?

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To be honest, I don't know. I get that it is simpler because it means that you don't have to set foot in the market... but maybe there's some other advantage that I'm unaware of because I see no point in using the week-long conversion option, personally. If someone else knows more about this, please chime in.

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Great video. Thanks. Very helpful.
Has anyone answered this question yet?

You always make the greatest videos ever! Short, Sweet, To the Point. And very helpful!! Thanks for making these! :)

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Glad to be of service. You're very welcome.

Great insight

That is exactly what I did with my 3 successful over $200 posts. I lost a few bucks trading and I gained them back. I currently hold BTC but I am thinking of putting it all in SP.

#takeiteasy

Great stuff dude. As always. I watch all your vids. Love 'em. Gave you a shout out in my latest post for being a top contributor to Steemit. Thank you for your hard work!

edit: some dude below me said the exact same thing as me and I didn't even know. trippin'.

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Thanks, man. Good post!

Thanks for the info. It helps to build by knowledge base about Steemit.

I want my upvote power to skyrocket so I can kick all those scammers especially at #introduceyourself out of this universe

I'm riding the waves!

I'm here for the long haul. I Fully agree with Power-Up. :-)

Really enjoyed this. Thanks

Only saw this post now.. and the fact that you play Angels & Airwaves in the background makes me want to upvote it a little more Haha :D

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Thanks! Good ear ;)

Thank you for video. its very useful

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My pleasure.

Love your username and your videos!!! Keep up the amazing work you make steemit easier and a lot more fun for the average user.

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Thanks! I'll keep it up for as long as it's in demand. :)

Thank you

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You're most welcome.

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Yes. And what else to say. Is that the video will be really helpful !

I appreciate the time that you took to explain the options. The thing about this that I've noticed is we kind of have to learn from each other. I've read the whitepages and watched YouTube videos, but I'm still trying to grasp all of this. Thank you for making it a little easier for those of us who are I guess "minnows".

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Yeah, it's a lot to sort out and absorb. I've been here for three months and still don't know everything there is to know. This rabbit hole is a deep one.

I think I am going to convert more steem power to steem dollars. Thanks again piedpiper for an excellent video. It was awesome when I saw one of my stupid comments somehow got over $130.

Absolutely spot on. I made a simple flowchart for the very same thing a while ago, but it's always nicer to see a detailed yet easy explanation in video form. :)

Steem Power Up for the win!

PS: Excuse the shameless plug :) https://steemit.com/steemit/@liberosist/not-sure-what-to-do-with-your-steem-dollars-follow-this-simple-flowchart

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Different people prefer different formats. The more we have, the better. :)

Thanks for making this video. It's a little less informative than some of the other "New to Steemit" articles that I read first, but I actually wish I watched this first. Those articles make a lot more sense to me now after watching this.

Good job as always, thanks piedpiper

I've only been at this for less than a day. I'm looking forward to making my first buck and I've been learning a lot too. Hopefully I won't have to down vote anyone, but there is always a possibility.

Just a thought. This video has been seen 145 times on YouTube and at the time of this posting has made $1,306.42 on Steem. Not saying that's good or bad but that is simple AMAZING! Not many videos with 145 views make that kind of money on the YouTube side of the economy.

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Usefull infomation.. upvote for you

Let's get them trolls!

305 upvotes and 169 views on Youtube! Good video. I actually watched it. Instead of using your first Steem Dollars on a treat I say you should leave it as Bitcoin and watch that Bitcoin rise over time. In order to buy something nice with Steem or Steem dollars you will have to convert it to Bitcoin at some point anyway. Just my opinion. Good luck to all and check out my latest Steemit post at: https://steemit.com/ethereum/@bitcoinmeister/ethereum-classic-is-free-insurance-for-pre-fork-ethereum-holders

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lol yeah, but I had in mind, the people who have come here because it's a "social media platform that pays you" rather than through the crypto angle. For a lot of the newcomers here, bitcoin is just as new and strange as steem.

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I understand, but at some point they will have to learn that when they receive Bitcoin that in fact they are "Getting Paid". :)

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That would be true if they intended on buying goods and services with bitcoin... I only know a few people that actually do that though. Most people here, especially the newcomers, are still just looking for government issued currency.

I appreciate you doing video blogs, sometimes after reading the umpteenth post it becomes robotic and monotonous. Thanks for sharing

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Glad you've been digging it. Thanks.

Great video!!! Thank you for explaining this to us newbs. :)

Lol awesome video bro.. however I have only transferred to a bitcoin wallet.. and not actually fully withdrew to real dollars..

But before Steemit I only earned bitcoin by doing surveys and stuff, because I don't have a bank account.. So when I try to explain Steemit to people I haven't been able to confidently explain how to ACTUALLY get cash from it..

Is it possible to get real dollars without having a bank account?

excelent post

Just found out about you. Thanks to your early posts, it helps me understand steemit even more.

Image of steemish
Time for success is very short, it is important to choose the time for successful start
https://steemit.com/steemit/@konti/important-information-or-publication-time-post-or-time-zones

I feel like he is really talk right in front of me. Though, it can confused the newbies if since I didn't see a a visual demonstration on how it is done. For those that brushed up on what he is talking about, he did inspired or motivate others on steemit. I liked what his straight talk and stories. Like the end of footage as well. Recognizable!!!

I felt a bit lost since I got my first earning, and the greed blinds you, but thanks for the advice, I'll have it in consideration

Dude, kickass background music.

Really useful, thanks a lot!

@piedpiper this is such a great video. Thank you

Whatever you do: DON'T SPEND IT ON A WOMAN.

The fact is in today's society, it is hard to be a Libertarian man.

  1. Television is a vagina with rabbit ears
  2. HR departments are feminist departments
  3. Libertarian men are under attack in this country
  4. Medium (.com) is a haven for women to complain about men
  5. Silicon Valley has become "vaginized"

It is OK to be a man. That doesn't mean we don't support you ladies. It means we want you to have equality too! Make your own money, have your own apartment, and don't get the government involved with your personal life!

https://steemit.com/sex/@mikebartolo/dating-economics-the-real-truth-behind-relationships-and-what-it-means-for-you

Very useful video. Works for years. Commenting it, so that I can easily get back to this topic when in need.
thanks

I strongly believe you should re-film this with updated information. This was one of the best on-boarding videos I passed around last year.
The part about "take a little out, hold it in your hand, realize this is real".
We need that again.