Tor/Brave | The Crypto-Economics of STEEM and SBD and how to Power Up | VIDEO ANIMATIONsteemCreated with Sketch.

in steemit •  14 days ago

Tor and Brave Browser installation plus a deeper look into the crypto-economics of STEEM and SBD on https://steemit.com and how to Power Up.

Privacy is one thing, however self ownership of data, and data with monetary value nonetheless, is something much more. Together these digital attributes bring strength to our community.

Tor Browser is a designed to mask the ip address of its user, but it does often run a bit slower.

Brave Browser block all adds and trackers but does not hide your ip address. Use your VPN!

Express VPN is 90$ a year, not month.. my bad.. https://www.expressvpn.com/


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Brave aims to enable payable ads, whereby you can turn the advertisement on and be rewarded with Basic Attention Tokens(BAT). If you're looking to earn some free digital tokens that can be traded for digital cash than Brave Browser injunction with the Ethereum Meta Mask wallet plug in could be a great route for you.. ..If you can avoid the intrusive advertisement, I'd suggest keeping them off.

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Steemit.com is a social ecosystem blockchain that incorporates two cryptocurrencies. Steem and Steem Backed Dollars. Steem Backed Dollar is pegged to 1 USD. If you.

Steemit's 3-currency system was confusing at first but it makes so much sense... Here is an overview of what I wish someone could have told me when I first joined.

There are differences between STEEM, SBD, and Steem Power, but they are a trinity.

STEEM is the foundational currency of the blockchain. When we buy STEEM, we invest in the Steemit blockchain. STEEM and ONLY STEEM can be used to "Power Up" and is changed into Steem Power. We can also trade our STEEM for Steem Dollars (SBD).

Steem Dollars are Steemit's internal currency, which stays relatively pegged to the US Dollar as each SBD is entitled to $1.00 of Steem when converted. It can be converted to STEEM, or traded on external markets.

Steem Power (SP) can be viewed as an internal currency with special conditions, as it never leaves the Steemit platform. You can not buy Steem Power, only stake STEEM, which turns into Steem Power. This power provides many benefits to Steemit users. Accounts that are powered up automatically gain Steem from the reward pool. Powered up accounts also gain increased influence in their voting power, allowing for the user to issue higher rewards to authors including themself and claim higher rewards from curation. Steem Power can be powered down in a process that is spread over 13 weeks whereby the account exchanges Steem Power into STEEM for 1:1 ratio.

The value of STEEM dictates the value of rewards throughout the Steemit ecosystem. Steemit essentially serves as a proof-of-stake platform for Steem Power holders, while also rewarding those who create and engage in great content.

(Proof-of-stake is an algorithm for verifying transactions on a blockchain, bitcoin uses proof-of-work)

Users are not required invest in order to gain rewards but it greatly helps to invest in some Steem Power.

SBD serves its purpose to provide stability to the platform's currencies. It also provides a soft floor for the price of STEEM around $1 as SBD can be converted for a gain any time STEEM falls under this level.

Steem Power helps to restrict the amount of tradeable STEEM that is available to the external markets. This essentially locks fiat currency value into the blockchain. It also prevents a mass exodus with the 13 week power down requirement.

Steemit is a well thought out platform designed by Dan Larimer, that encourages long term investment, stabilizes price movement, and locks fiat into the system. Power. And all users are able to generate crypto-income that can easily be traded for other cryptocurrencies.

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This is Pat @PatrickALeach of the @StateofAnarchy - Stay hidden -
@flauwy @elamental



Website: http://thestateofanarchy.com/
YouTube: http://bit.ly/TheStateofAnarchy
Statebook: http://bit.ly/TheBookofAnarchy
Instagram: @thestateofanarchy

Bitcoin: 17w77NVmtTxj78d1Dnx3vh5FjwHvzpkts8
Bitcoin Cash: qzvxljvm82hywnrsdv6vqd9m2zjj207y65fc04f2w5
Binance: 0x49e06218d5D05923F0e442265cD2A419D4d17C4D
Dash: XqVzxHF6wi1F9uA8vc8hhWZFyqLgjZCbH7
Ethereum : 0x49e06218d5D05923F0e442265cD2A419D4d17C4D
Lisk: 13974177123382109591L
Monero: 458xXh879UPVHNjDmShgPXPtHbYdCVBSE5L5kZ1CnJYuMGLNqZiGPqB9XDSms5RqVBjHNfgxMfo6d6oNjFYKEG1iA7UmRp3

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Thanks for suggesting Express VPN!

Could you provide me your referral link, so you can gain one free month with my subscription, @stateofanarchy?

Awesome video, Pat! Can't wait to meet you in Berlin.