It takes two years to withdraw your Steem
So I have to wait two years before I can access the profits I make here
that's what I understood from comments and people I talked to here. Is this correct? Because if it is correct, I think this is a big letdown for most people, noone will wait so much to see their work paid as it should. Talking about markets I know it's a completely different story and strategically it makes sense, but there's a value that it gets accessed instantly which is the data and informations people share here and another value that is not accessible immediately, so there's a discrepancy in the fruibility of this platform.
If I didn't understand well maybe you can explain me or direct me where I can access this knowledge.
Just my thoughts
50% of any money you make as an AUTHOR is paid in STEEM Dollars, you can with draw that immediately.
50% of the money you make as an AUTHOR is paid in STEEM Power, you can withdraw that in weekly installments over 2 years.
100% of the money you make as a CURATOR is paid in STEEM power.
If you don't power up your STEEM into STEEM power it is liquid (you can withdraw immediately). However STEEM power earns interest that counteracts STEEM's high inflation. So it is best not to hold STEEM for too longer, just use it to transfer and trade.
(Steemit probably need a FAQs section as the same questions keep popping up)
Thanks - did not know that... joined today :-)
Thank you for explaining it so well.
No, you can withdraw Steem immediately. Steem Power can not be converted for 2 years, it is more like an investment in the system, however it doesn't lost value like Steem does.
@gregm : how can I earn from steemit? I'm still new and not really understand yet