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RE: "I'm new here. Can you explain Steemit to me like I'm 5?"

in #steem8 years ago

I read a post about this a few days ago. Using 100% of your power gives maximum benefit to the upvote. Those with lots of power can choose to reduce the effect of their votes (I read there is a slider) or split it in half (50/50). They can also choose to decline to receive any benefit and donate their reward back to the system of steem.

I hope I got that correct. Please do correct me if I'm wrong.

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thanks for replying... but i am still not able to understand how the shares are split between creator and curator and what are the three options really for @happyme. Looking forward to thank u again..

I don't remember the details of how shares are split between creator and curator and I believe it is quite a complicated calculation. As for the 3 options: I think you may be asking about the options available when writing a post? If that is the case, then there seems to be a choice of allocating ALL of your earnings to Steem Power, allocating your earnings 50/50 between Steem Power and steem (the default setting), and not taking any earnings at all.

This video is rather old and some things have changed, but it does a decent job of explaining things:

Thanks, now i get it...thanks again