[Steem, Steem Dollars, and Steem Power Explained]
A great video and clear explanation about Steem, Steem dollars, and Steem power for those who are new to Steemit. Welcome and enjoy :)
A great video and clear explanation about Steem, Steem dollars, and Steem power for those who are new to Steemit. Welcome and enjoy :)
Thanks for sharing this video. Now i got a clearer view about what is steem, steem power and steem dollar.
FINALLY...someone explained it in caveman speak! I couldnt make heads or tails of the differences no matter how much i researched.
Indeed!
Thanks for the video! Anyone watching this in 11/2017 should view the video in youtube and follow the link to the updated version.
Thank you, that makes it a bit clearer.
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.
请问有人能用中文解释一下吗
you deserve a like, a hug, and a cookie. Breh, you explained it so well to us plebians that even a toddler would understand. You made it fast, educated, and simple. I'm a new user and I can't wait to help out this wonderful community. POWER UP!!!
WOW great explanation and very informative thanks for posting this looking forward to your next video
me-tarzan
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
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! ;)
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
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.
I won't be powering down till we are talking about REAL money. ;) See ya round. Thanks again!
Great video and great follow up answers. Makes it easy to understand and definitely has helped this newb. Followed.
thank you thank you thank you. Well explained.