noob questions for the community
So how exactly does this work? When someone upvotes a post how do we get paid?
All these posts im looking at with dollar amounts...what does that mean?
Ive seen posts with thousands of dollars in votes...does this mean that poster got the equivalent in USD worth of STEEM in his or her wallet now?
How does Power up and Down work? - What are the benefits of this?
Payouts will begin on July 4th. After that point you will be able to cashout once the last upvote is 24h old.
The posts are funded by newly created STEEM on the blockchain. It is pretty much the same thing as in Bitcoin, just that the blockchain doesn't pay miners but people to participate in
you can find the documentation on steem.io.
Note, that the amounts stated next to the thread are split among the post author and those that voted as participated in the discussion.
Okay. What are the advantages of powering up or down? There should be a video for noobs so its easier for people to understand what powering up and down does. This is an awesome platform with massive potential but we need to keep it understandable for everyone!
I have no idea how the power up / down / steam dollar stuff works and ive read everything I can about it. I dont get it. What is the point of powering up or down and why do we want or need to do this? Also what are steam dollars used for?
Do we lose access to our STEEM when we power up or down for a certain amount of time?
If you want to transfer and/or sell your STEEM you must power down. If you want to vote and/or allocate rewards to posters then you should power up.
Powering Up is instant, but Powering Down is a gradual process spread over 104 weeks. Only Power Up if you want to stay awhile and participate.
There should be transparency on the splits, else the $ figure displayed is meaningless and confusing (especially to first time visitors).
A page or section that shows a breakdown of rewards for a given Post would be a useful enhancement.
Also, giving contributors visibility of their rewards/ pending rewards on their wallet page (or a new page) would be for a better user experience.
I like the idea of displaying pending rewards at the wallet page or at it's own separate page.
Its good idea for newer in steemit market place
my friend rahulsami this conversation is 2 years ago.....sorry
I am new to this and agree it is a bit confusing. Maybe everything will be explained more as the system gets developed more. I like the concept though.
Im still pretty lost, been here for a month, I have steem on an exchange and im not sure if I should trade it or transfer it, found this post on google.
Jusy signed up.. Agreed kinds confusing but the idea is intriguing
you can find everything on this post..
https://steemit.com/steemit/@calamus056/curation-rewards-explained-in-great-detail