I am from India 5$ per day is good income a small family will survive. When compared to other sites steemit is a great platform for bloggers.
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I am from India 5$ per day is good income a small family will survive. When compared to other sites steemit is a great platform for bloggers.
Thats good to know! I have a T-Shirt designer who lives in India. Now I see why he's so excited to do work for me! I pay him around 10.00 per hour Hehehe!!! I'm glad he will be able to survive nicely.
People In India don't spent much but they keep the money for future of their children.
This is why we need to give them the crypto equivalent to compound interest. Dan Larimer can figure out how to do it.
I am fairly positive if you put your steemit into savings, they give you interest
yes, i just checked and although that function was not there at the original launch of steemit, they have in fact implemented a transfer to savings option that gives interest for locking the tokens away.
That is not accurate. The savings option does not give interest. It is just a way of locking up your funds. In case your account gets hacked you have 3 days to recover your account and reverse any withdrawals before it's irreversible.
Exactly the reason why I think Steem Power should be renamed as Savings Account (treat curation rewards as interest, although it may not reflect the value in which the user depend on like national currencies, or if STEEM does well, will turn out to be better).
are you sure? i know it was not an option that existed at the beginning, but the option discusses APR% rates, so it looks like they are building it in.
"SAVINGS
Balance subject to 3 day withdraw waiting period, STEEM Dollars currently collecting 0% APR."
That it states "currently collecting 0% APR" implies that these values could be changed to be >0 and thus the function for compound interest is built into the system, yet seemingly not activated. Obviously Dan or Ned would need to clarify.
SBD collects interest regardless if you hold it in the savings or not (as long as the witnesses have set the parameters of the blockchain to do so). The statement "currently collecting 0% APR" is just informing that currently SBD do not accrue interest.
I agree that the wording is confusing.
BTW Dan is no longer part of Steemit Inc. He resigned his position as CTO several weeks ago.
https://steemit.com/steemit/@lukestokes/do-you-know-your-steem-power-interest-rate
Please read that post with caution, it's a very old one and was written while I was still figuring things out.
The APR % on SBD is currently set to 0. This is a setting the witnesses control. If SBD goes below $1, that number will go up. Right now SBD is well above $1 in value.
If it gave interest I'd be using it and so would many others. They took that feature away which is really a damn shame. Steem Dollars used to give 10% interest and Steem used to be a platform you could retire on.
wow, this should be front page news in India!!!!!!
I live in Venezuela. $5 per day is real fortune in our country! The minimum monthly salary is $16.6. I'm a doctor... A consultation costs $2. Is impossible to charge more.