[Steem, Steem Dollars, and Steem Power Explained]

last year
62 in steemit

A great video and clear explanation about Steem, Steem dollars, and Steem power for those who are new to Steemit. Welcome and enjoy :)

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44
  ·  3 months ago

FINALLY...someone explained it in caveman speak! I couldnt make heads or tails of the differences no matter how much i researched.

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42
  ·  2 months ago

Indeed!

51
  ·  3 months ago

Thank you man!!

70
  ·  last year

Thank you for explaining this. There are a lot of people you have no idea.

56
  ·  last year

Great Explanation , the best explanation I have seen anywhere.

52
  ·  last year

Very useful & thank you for sharing. Now if they can just keep the site up!

45
  ·  last year

Great video, thank you. One question - You mentioned that steam is doubled every year . 10% goes to interest on Steam dollar, 90% for interest on steam power. If that's the case, what about the steam given to new users?
Also, if heard ned mention it as 30% every year and not doubling of steam power every year, am I missing something .

25
  ·  last year

thank you thank you thank you. Well explained.

62
  ·  last year

Your explanation is quite crystal clear. You've really cleared it up for me. Great job.

Cheers from Venezuela.

57
  ·  last year

Thank you. You explained it very clearly. I did read the white paper, but the jargon was unfamiliar as I am a crypto-virgin. This brought everything together for me.

54
  ·  4 months ago

Thank you! great explanation :)

39
  ·  3 months ago

More people in the world need to start investing in steem.

More people need to start investing generally.

54
  ·  3 months ago

Holy cow, thank you so much for making this video. It's helped me out a lot.

57
  ·  3 months ago

A nice simple explaination, and some clarity around the value of steem (in all its different guises).

25
  ·  3 months ago

thank you for explaining well about steemit.

25
  ·  3 months ago

Thanks for this really informative video.

69
  ·  last year

WOW great explanation and very informative thanks for posting this looking forward to your next video
me-tarzan

69
  ·  last year

Shredlord your saying 1 steem power = 1 steem when you power down . Here's an example let me know if this is correct lets say 1 steem is worth 5.00 us dollars on bittrex so therefore 1 steem power is worth 5.00 us dollars
1 steem power = 5.00 us dollars
1 steem = 5.00 us dollars

So when I power down and have lets say 1000 steem power and steem is trading for lets say 15.00 us dollars on bittrex 1000 X 15.00 = 15000 us dollars
let me know if this is correct
me-tarzan

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62
  ·  last year

That's correct but when you power down it will start being paid over 104 weeks (2 years)
15000 usd paid over 2 years
= 144 usd per week for 2 years

Basically if you post good content you'll be able to retire in no time! ;)

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55
  ·  2 months ago

This question and answer solved it all for me. Except... Is the market spot price set when hit the "power down" switch and set for the (now 13) weekly future payouts? Or is it fluctuating in market value weekly over the payout period? Thanks in advance, and sorry to dredge up this old post thread so much later. - @sircork

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62
  ·  2 months ago

Yea, it's gonna be fluctuation in value over the powerdown. Would be great if hitting the power down button set it in stone hehe :P Catch it on a week when steem value is high and you'll get a good payout, then cancel the power down when it goes down in value. I'm pretty long term personally so I'd say wait til steemit really takes grip before doing a full proper week by week power down. Could be worth an absolute fortune in the next few years.

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55
  ·  2 months ago

I won't be powering down till we are talking about REAL money. ;) See ya round. Thanks again!

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44
  ·  2 months ago

Great video and great follow up answers. Makes it easy to understand and definitely has helped this newb. Followed.

42
  ·  3 months ago

This was exactly what I needed to hear. STEEM Power all the way :-) Thank you for your very calm and simple explanation. U/R/F

31
  ·  3 months ago

Thank you dude

39
  ·  3 months ago

Thank you! Steem... steem dollar & steem power made simple! Very good explanation, I wanted to resteem it but I can't find the sign and I wonder why this post didn't get more steem dollars!!!!

38
  ·  2 months ago

Great explanation so based on the potential crash of the dollar and I am in the UK; if I want to invest my bitcoins, I should buy "steem" instead of "steem dollars"? Exchanges only list "steem" coins and "steam dollars"

25
  ·  2 months ago

Watching second time > so dumb
shredlord you are doing some of Jedi tricks 0:01 sec in video?)

58
  ·  2 months ago

I think one correction that has to be made (only because the video is now a bit old) is that STEEM no longer doubles every year. Due to community demand, the inflation rate of Steem was changed to 9.5% per year, reducing by 0.5% per year, as of December 2016.

The Power Down process now also takes 13 weeks instead of a 104. Which is quite note-worthy.

60
  ·  2 months ago

I didn't know about the 104 weeks powering down. Interesting concept. Thanks for sharing.

40
  ·  2 months ago

Where does the money come from though? I'm missing that part.

28
  ·  2 months ago

Best explanation I've seen so far. Great video!

42
  ·  2 months ago

Thanks a lot really great explanation!:)

42
  ·  2 months ago

Does it mean if you power up and you vote someone's post up they receive a higher amount of steem dollars because you upvoted?:)

42
  ·  2 months ago

Thank you - seriously @shredlord - I appreciate a video like this because I had no idea what the difference was between all this fun stuff.

41
  ·  last month

Thank you, that makes it a bit clearer.
MACHINE_Capture.PNG

49
  ·  last month

Good basic explanation. Voted up, even though I'm not worth much. But I do have a better understanding of how to move forward. Thanks.

26
  ·  16 days ago

Thanks @shredlord, I'm new to steemit and your video helps me a lot. Will follow you and check your blog to learn more about this stuff. Good Job!

26
  ·  15 days ago

Good post! Very, very useful!