SteemEducationProgram ; STEEM POWER Guide and Infographics that Every Steemit User needs to Read!

in #steemit8 years ago

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Here is the Link , Feel free to share out the Infographic's to Educate other Steemit User's


https://www.steemimg.com/image/gQB6W


This Post is all about '' Steem Power'' , so please take your Time to learn more about Steemit , before making a Financial Decision to Power Up. I have recently been invited by @cass to help him out with the Steem Education Program , so I will try my best to explain to you the Ideology behind Steem Power and some General Information that every Steemit User needs to know
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Let's Begin with the BASIC's

So before we jump right into explaining what Steem Power is all about , let's get an idea of what Steemit has to offer . As you all may know by now , there are 3 Financial Assets that make up Steemit's Ecosystem. STEEM is the official Blockchain that gives Steemit the Foundation (Where all the Content is Stored on a Decentralized Network) .

So, Does that mean all Pictures & Videos are stored on the Steemit Blockchain , how does it hold this Information ?

Just Some General Information that you should be aware of is that, Pictures & Video are actually stored on 3rd party hosting solutions. All text content is stored on STEEM full nodes where the STEEM Blockchain is stored. Check out https://steemd.com to see the blockchain.

Now that you know that STEEM is the main Cryptocurrency behind Steemit , let's talk about STEEM DOLLAR because it also has similar properties of being a Digital Token. STEEM DOLLARS are the price-stable currency tokens that represent about $1 each in value. You will get paid partly in STEEM DOLLARS & STEEM POWER . STEEM DOLLAR was intended to be spend in the virtual economy which is soon to come, you can hold them and accumulate a 10% return, or you can sell or transfer them into STEEM , Bitcoin, or other currencies.

So now you know more about STEEM & STEEM DOLLAR , we may go more in details with STEEM POWER!


It's nearly Instantaneous when you Power Up your STEEM to STEEM POWER.

But to Power Down it takes 2 Years


STEEM POWER is STEEM that's been set aside (locked up) for the purpose of the Community. In Return your Basically receiving a share of Steemit's Ecosystem , because you're technically investing in Steemit in the long run. The more STEEM POWER you have the greater the Reward for Curating , Posting & Commenting , your vote carries more value meaning that you'll be rewarding user more when you upvote them and yourself when you contribute


STEEM POWER Earns you Compound Interests!


There is seems to be a misunderstanding of the idea that STEEM POWER accumulates according to COMPOUND INTEREST , if this is true you'll be getting rich really fast but that's not the case here. There is quite an argument to this because the more STEEM POWER you have the greater the reward for your contribution .
So i'm trying to say is that STEEM POWER doesn’t accummulate based on compound Interests but the price change you see is a change in number is a reflection of the change in the conversion rate between VESTs and STEEM.
But wait, here is the catch !

As you start observing the payout for Posts , there will be a noticeable difference in Votes and Payout , this is because there are certain users who assert more influence than others. The more STEEM POWER a user has the more she/he is entitled a stake of Steemit Social Platform.
You get rewarded according to a Compound Interest Principle , whereby you receive more based on your Vested STEEM. The Whitepaper even states that;

The less STEEM Power you have the more important it is for you to focus your votes on a few good posts rather than spreading your vote thin. In particular, users with small amounts of vesting STEEM should:
1. Vote on content others haven’t voted for, to maximize the percentage increase in voting
2. Vote on fewer posts, the more you vote the more diluted your STEEM Power.

Voting Power is rate-limited and decays by up to 5% every time a vote is cast. Voting Power regenerates to 100% over 24 hours. Your ability to impact the payouts a post receives is based upon your current Voting Power times the total vesting STEEM and is known as STEEM POWER.

CHECK OUT https://steemstats.com
Made by @jesta! This Tool allow's you to monitor your Steemit Account Activities!

To maximize total STEEM POWER applied to posts, users should vote on at least 20 posts per day. Voting on more than 20 posts per day has Exponentially Decreasing Influence on total STEEM Power used.

Why does your STEEM POWER Influence Decreases as I more Actively Engage with Steemit during 24 Hours given Time Period?
This is actually a way to curb Exploitation within System whereby we set limits for those with Great STEEM POWER . Basically, if a Steemit Whale ( User with a lot of STEEM POWER ) keeps Upvoting Content , they are more Entitled to the Distribution of Steemit Reward based on an Algorithm Set of Rules. As they upvote content throughout the Day , each Vote loses more in Value , meaning that they will be Distributing Less of Steemit Wealth under their Influence.


This to me Encourages people to increase their STEEM POWER as there is motive for Social recognition , I don’t really think anyone would invest STEEM POWER just to cash out ! Because it would make more sense to let it Accumulate and to Contribute to a Social Media ( EVERYONE CAN UPVOTE AND POST CONTENT ) which rewards you more in the long run as you Vest more STEEM.

No one Is forcing you to Power up and you don’t Technically need to Power up by investing more Money into it , just Contribute and if your Post is good , your Reward will be split into 50% STEEM DOLLAR the remaining 50% are Rewarded in STEEM POWER.


''Powering up'' Basically moves STEEM to be used for the Community, and Powering Down STEEM POWER moves it out of the Community to just a Cryptocurrency Form.


So Wait , if I Power Up I don't have access to my STEEM anymore ?
Just to make it clearer , you're technically investing your STEEM for the STEEMIT Community . That's why you'll hear the phrase "STEEM POWER is Vested STEEM over 2 years".

Wait a Minute is this some Investment-Ponzi Scam? You might be asking yourself this now!
Well , to answer this question I would like to use OneCoin , this is not even a Cryptocurrency but was marketed to be one.


https://steemit.com/money/@morpheustitania/onecoin-is-a-scam


Now that my friends is what we call a Ponzi Scam , it's not even recognized as a Cryptocurrency because the Blockchain is not accessible by the Public , yet it's a Billion Dollar Scam , where individuals bought the idea of investing into an Upcoming Cryptocurrency .

I know this may be a bad comparison , because a lot Crypto-currency Enthusiasts are laughing at the concept of Onecoin , stating that it's an obvious scam. You see the Investor who bought the idea of the project now promote its Currency to avoid bad publicity , why i'm bringing this up is because the Steemit doesn't seem to have that problem. I don’t really see People complaining that they have invested in more Steem Power . Why would anyone in the first place , when they clearly stated that your Vesting your STEEM in a 2 Year Agreement.

You can still receive back your original investment by Powering down , so it’s not a scam like OneCoin where they practically can’t get any of their Investment back in the first place.
You don’t need money to obtain STEEM POWER , you can get STEEM POWER from Posting Content , this gives the privilege to anyone to obtain STEEM POWER without the need to invest money . You have to work in any Economic System by Contributing , so if you work hard for Steemit as a social blogger you shall gain more financial value.

The Benefits of Vesting your STEEM

Here are some Con's and Pro's I have come up with regarding STEEM POWER


Con's


-It’s Instantaneous to Power up your STEEM to STEEM POWER, however Steemit's Developers made it clear in the Whitepaper that you shall receive back your Vest STEEM in 104 Weekly Installments if choose to Power Down.

-Steem Power is Non-Transferable , it only has value within the Steemit Ecosystem . You won't be able to trade it freely like STEEM or STEEM DOLLAR.


Pro’s


-When you Earn Rewards for Posting and Curating, part of this is paid to you in STEEM POWER. You don't need to invest more money in order to Power Up , this allow's anyone to grow STEEM POWER without having to actually Invest Money in STEEM.

-When you have STEEM POWER you're a Shareholder of Steemit with STEEM Tokens , the more you own, the more weight your vote has, the more money your Up-Votes gives and the more your Rewarded for your Contribution. This support's the idea that STEEM POWER Accumulate with Compound Interests , you get Rewarded more as you Invest.

-As a Shareholder , you're Essentially Supporting the Steemit Ecosystem allowing it to Grow
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Heard about the Steemit Ecosystem , yeah everyone is comparing it to World's Ocean Ecosystem ,
the more STEEM POWER you have the more Exotic you are as a Sea Creature. There is Less Whales and Dolphins than Minnows , but that doesn't mean you don't stand a Fighting Chance , because you need a proper Foodchain to have a Sustainable Ecocsystem. It being a Social Media , easy for everybody to utilize allow's it to attract a big Audience , potentially the user base of other popular Social Platforms such as Facebook , Twitter and Reddit , who capitalize on Free User Generated Content.


But , what about Whales who have so much STEEM POWER that they assert too much Influence in the Steem Community ?

When you realize that the Founders and Pioneers of STEEMIT all keep substantial amount of STEEM POWER.


-They give the Big and Small investors, the Reason to Trust the platform and all the related projects of Steemit handled by this team. It shows that the Steemit Developers are heavily Invested too, and will not suddenly disappear, like some other Crypto projects of the past especially OneCoin. It takes 2 years to Power Down , but with OneCoin & Other Typical MLM's Scheme you can’t get back your Money at all nor do you have the Power to Assert Influence the way Steemit allow's you with their Unique Social Media.

-These Pioneers that hold large amounts of STEEM DOLLARS, have the ability to make a chosen(worthy of notice) post to be more VISIBLE, which act in a way, to filter what are more important for the growth of the platform. They fund projects that help the Steemit Community and allows Developers to receive Rewards for their Work

-They also have the ability to Sponser Advertisements in behalf of Steemit, through the surprisingly huge amounts of Rewards , particularly to Helpful Steemit post ( Hopefully my Post ). They can even help someone get out of Financial difficulty , there are many Success stories to be found already , Whales generally do not upvote themselves but Other's.


Check out www.steemitpond.com to Monitor Whales Activity , Be the Judge on whether Whales are abusing the System


As Steemit Grows you don’t want to get left behind that’s why you're given the Opportunity to Earn yourself in by being active on its Social Platform or by Investment meaning this is not a “Passive Investment”, unless you want it to be one.

Everyone seriously involved with Steemit on the other hand know very well that having STEEM POWERS is very Advantageous for the WHOLE STEEM HOLDER COMMUNITY, yes that includes Steemit contributors like you and me.

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STEEM POWER at least will grow over time as your more Active within the Community and grow much bigger if you also invest your time & energy to posting good content and upvoting other peoples’ good content on Steemit.
It also gives you a virtual stake in the future growth of Steemit and the STEEM economy, since most of the new currency tokens created are paid out to SP holders.

Follow my Blog and Please Correct me If i'm Wrong , i will make Adjustment !
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Nice post, thanks

Thanks for this post! You write: "To maximize total STEEM POWER applied to posts, users should vote on at least 20 posts per day. Voting on more than 20 posts per day has Exponentially Decreasing Influence on total STEEM Power used."

How do you know? Is the algorithm behind this open? If yes, where can it be found? If not, how did you come up with 20? And is there a reduction over the first 20 votes already? In essence, do you have an numbers?

Please Read from https://steem.io/getinvolved/paid-to-curate/ :) ,
you wanna see how Voting Influence is effected throughout the Days , please check out
steemstats.com by @jesta .

that's an impressive post, you surely did your homework :)

Best yet!!!!

I am referring to this post in my next post!!

Steem on,
Mike

Thank You ! always Appreciate your Positive Feedback !

Great images. Is it ok if I use the one with the claws as my image for a Steemit Fantasy Football League I want to start? :)

https://www.steemimg.com/image/gmivT

Here is the Link , it Doesn't Belong to me , but I can see it being Shared out on the Community.

Thank you. It just works for what I'm thinking about doing.

I stumbled across this researching Steem power. I had no idea my votes lose their might!
Resteeming and following now.
Correction I can't resteemit. But I will link to this in a future post.

THE COOLEST NOOB FRIENDLY POST GUYS!

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