You can earn both STEEM and Steem Backed Dollars (SBD) from your posts on STEEM-based apps like Steemit and Dtube.
SBD is good for $1 worth of Steem if ever you decide to convert it. You can also trade it on an external market, which is the better option at the moment since it's trading for over $4 (anything over $1 is added profit). The whole purpose of SBD is, at least in theory, to make a more stable currency, pegged to the US dollar, that would be a more attractive option for businesses (online retailers) than your typical crypto-currency, which can fluctuate by more than 5% per day. Obviously, it hasn't succeeded thus far at keeping the dollar peg as, like I mentioned earlier, it's currently trading on external exchanges, such as Binance, for over $4.
Steem, the actual currency of the Steem- blockchain, can be "powered up" into Steem-Power (SP), or "vested Steem". SP is what determines how much your vote is worth on Steemit and other Steem based apps. Everyday the same amount of Steem is awarded to content creators, based on who gets voted on by whom. The higher your SP the more percentage of the reward pool your vote awards.
Once you've powered up over 500 Steem, you get the option to choose your "voting power" every time that you vote (before that amount is reached, all your votes are cast at 100% voting power). When you go to vote, you'll see a "voting slider" that allows you to vote between 1 and 100% voting power (if your 100% upvote is worth $10, then your 10% upvote will be worth $1, it works on a linear growth line).
Each SP only has so much voting power, which decreases a bit with every upvote (or downvote), but it is forever renewed at a rate of ten 100% upvotes (or downvotes) per day, at a constant rate. So the maximum return on curation rewards (your reward for voting on content that receives further upvotes after you made your vote) comes with voting ten times at 100% or some equivalent (100 times at 10%, 1,000 times at 1%, etc.).
You can "power down" your SP whenever you decide to convert it back into Steem. This will divide the total SP by 13 and pay it out in 13 equal weekly payments to your account. You can end the power down whenever you wish and you can choose to power down any percentage of your total SP.
Sir I know you will soon become a Whale here, if you keep on powering up. Keep on posting and powering up sir @furiouspete123 I'm @joshvel your follower from the Philippines...
@jamesbrown - thank you for the help in explaining the differences in currency on steem. It’s helpful to look at the pros and cons and understand the value of SBD.
Being a newb is actually a nice feature, because 99% of viewers will be as well. Plunging into Dtube, Dlive and Steem can be quite a learning experience. Since it's all blockchain based, many things may seem a bit difficult to understand.
Which is why your adventures and your experiences on these platforms automatically make for incredibly interesting and valuable content.
Good luck, I hope you will like dwelling in the kingdom of peace, abundance and liberty!
When you power up your STEEM you get a higher upvote as well as support the network. Most of us are here with powered up STEEM because we believe in the network.
From this post you will get rewards in Steem and Steem Dollars, both of them have no utility other than being able to send them without fees and in 3 seconds to anyone with Steem account. That's neat in itself, but you could power up that Steem which will let you allocate some of the daily generated Steem as rewards for content creators by upvoting.
For example, with current prices having 5k Steem Power would mean that you could reward 10 different people here on Steem with about 1,3 dollars a day. And if the prices stay the same, you could do that forever. With that much Steem Power, you would get slider which will let you make smaller upvotes as well, enabling you to make more votes than just 10, they will just have little less impact.
So in essence, Steem Power are shares to Steem blockchain that let's you have more say on who should be rewarded here and who not. And as more people join here, and demand grows for visibility, the price of Steem should rise. Meaning your votes will have larger impact and the wallet in total will be worth more, as Steem Power is just Steem that is locked up and that can be powered back down to Steem and sold.
I hope this clarifies the system little bit. Ask away if you have any questions unanswered.
Truth is that I am from the last that could give you an advice in here, since I count about a month in Steemit!!!
The only thing I can tell you though, is to be yourself!!! This platform is a great place to experiment with, and try new things "your" way!
Well, I don't even know if you will get to read this comment but if you do, check what my brother ALREADY made for you 😉!!!
As far as I understand, "Powering Up" gives you a higher priority in the Steem ecosystem. It's like temporarily buying influence. You can "Power Down" at a later time to cash out some of your Steem or convert it to something else.
You can earn both STEEM and Steem Backed Dollars (SBD) from your posts on STEEM-based apps like Steemit and Dtube.
SBD is good for $1 worth of Steem if ever you decide to convert it. You can also trade it on an external market, which is the better option at the moment since it's trading for over $4 (anything over $1 is added profit). The whole purpose of SBD is, at least in theory, to make a more stable currency, pegged to the US dollar, that would be a more attractive option for businesses (online retailers) than your typical crypto-currency, which can fluctuate by more than 5% per day. Obviously, it hasn't succeeded thus far at keeping the dollar peg as, like I mentioned earlier, it's currently trading on external exchanges, such as Binance, for over $4.
Steem, the actual currency of the Steem- blockchain, can be "powered up" into Steem-Power (SP), or "vested Steem". SP is what determines how much your vote is worth on Steemit and other Steem based apps. Everyday the same amount of Steem is awarded to content creators, based on who gets voted on by whom. The higher your SP the more percentage of the reward pool your vote awards.
Once you've powered up over 500 Steem, you get the option to choose your "voting power" every time that you vote (before that amount is reached, all your votes are cast at 100% voting power). When you go to vote, you'll see a "voting slider" that allows you to vote between 1 and 100% voting power (if your 100% upvote is worth $10, then your 10% upvote will be worth $1, it works on a linear growth line).
Each SP only has so much voting power, which decreases a bit with every upvote (or downvote), but it is forever renewed at a rate of ten 100% upvotes (or downvotes) per day, at a constant rate. So the maximum return on curation rewards (your reward for voting on content that receives further upvotes after you made your vote) comes with voting ten times at 100% or some equivalent (100 times at 10%, 1,000 times at 1%, etc.).
You can "power down" your SP whenever you decide to convert it back into Steem. This will divide the total SP by 13 and pay it out in 13 equal weekly payments to your account. You can end the power down whenever you wish and you can choose to power down any percentage of your total SP.
Hopefully this helps :)
Excellent advice. Good job.
That's some solid information right there, thank you. @jamesbrown
Your comment is really perfect.
Thanks! I think I got it now :)
@furiouspete123 You can also see how much your voting power is worth and how long time you need to get your voting power charged at 100% on https://steemnow.com/@furiouspete123
Sir I know you will soon become a Whale here, if you keep on powering up. Keep on posting and powering up sir @furiouspete123 I'm @joshvel your follower from the Philippines...
good
Thanks for the info. I am new here so all this info is helpful.
You're welcome. Glad I could help :)
should just cut and paste info to the top 3 posts everyday...i dont think many people know whats going on....including myself
@giostrus some great info!
@jamesbrown - thank you for the help in explaining the differences in currency on steem. It’s helpful to look at the pros and cons and understand the value of SBD.
Thanks, i have been searching for one who will explain this to me, I think am coming to understand everything here more and more.
thanks again!
As always, @jamesbrown, you got soul and are super bad. Thanks!
Man I have a lot to learn...
Being a newb is actually a nice feature, because 99% of viewers will be as well. Plunging into Dtube, Dlive and Steem can be quite a learning experience. Since it's all blockchain based, many things may seem a bit difficult to understand.
Which is why your adventures and your experiences on these platforms automatically make for incredibly interesting and valuable content.
Good luck, I hope you will like dwelling in the kingdom of peace, abundance and liberty!
When you power up your STEEM you get a higher upvote as well as support the network. Most of us are here with powered up STEEM because we believe in the network.
good
From this post you will get rewards in Steem and Steem Dollars, both of them have no utility other than being able to send them without fees and in 3 seconds to anyone with Steem account. That's neat in itself, but you could power up that Steem which will let you allocate some of the daily generated Steem as rewards for content creators by upvoting.
For example, with current prices having 5k Steem Power would mean that you could reward 10 different people here on Steem with about 1,3 dollars a day. And if the prices stay the same, you could do that forever. With that much Steem Power, you would get slider which will let you make smaller upvotes as well, enabling you to make more votes than just 10, they will just have little less impact.
So in essence, Steem Power are shares to Steem blockchain that let's you have more say on who should be rewarded here and who not. And as more people join here, and demand grows for visibility, the price of Steem should rise. Meaning your votes will have larger impact and the wallet in total will be worth more, as Steem Power is just Steem that is locked up and that can be powered back down to Steem and sold.
I hope this clarifies the system little bit. Ask away if you have any questions unanswered.
Go to you Wallet->Balances->Steem->Power Up
Very well You're Going very Grateful
A true newb?? lol Well welcome welcome 😀 !!!
Truth is that I am from the last that could give you an advice in here, since I count about a month in Steemit!!!
The only thing I can tell you though, is to be yourself!!! This platform is a great place to experiment with, and try new things "your" way!
Well, I don't even know if you will get to read this comment but if you do, check what my brother ALREADY made for you 😉!!!
https://steemit.com/furious-pete/@tkappa/attention-furious-pete-has-joined-steemit
Have fun @furiouspete123 !!!!
A simple tip from me is to make your links clickable ;)
People are too lazy to cut and paste @furiouspete123
As far as I understand, "Powering Up" gives you a higher priority in the Steem ecosystem. It's like temporarily buying influence. You can "Power Down" at a later time to cash out some of your Steem or convert it to something else.