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I am going to be just straight up honest. I don't understand this space. I bought some Steem with Bitcoin. I powered up some. I don't understand how to make money here because that was my primary desire. I'm just frickin clueless. I want to move my steem to a wallet and just get off. I don't know how to power down, don't understand the 3 month payment thing. My US dollar balance seems wrong. It's my fault I know. I hit Power Down and it has me put in my password then nothing... no response no information. I should have just stayed with what i was doing. Accumulating coins. Should have just bought steem on Polo. Ugh help me get out of here!!! ![clueless.jpg]
Hi. Let me try clarify some things and just explain some other things.
Here on Steemit, you can earn Steem by either writing posts or curating posts.
When you decide to power down, your total amount of Steem Power is divided by 13 and you get paid every 7 days. This means you get paid in 13 installments. This was done to protect accounts in case of a hack. You don't get to lose all your money at a go.
Now, Steemit is a wallet and the only wallet available to holding your Steem but if you intend to move them to an exchange then i'm hoping you're aware of the risks of that.
As regards the dollar value of your account, Steemit.com calculates this based on a 7-day average and not the current value of Steem on the market. To have a more accurate value of your account, try busy.org
Let me know if you have any more questions. You can also read this
Thank you!
You're welcome 😊
I do have one question which might give me perspective. Powering up. How should I approach this? Like how often and how much? How soon does it have an effect? Also I can tell you're a good dude fisteganos!
People have been good to me so it's only right I do the same.
Powering up depends on your goal. When I first joined, I always powered up all my earnings because I wanted my upvotes to make a difference and your SP determines how many cents your upvotes add to a post's payout.
When I had a little hiccup with my finances, I began taking out the liquid Payouts from my posts and leaving my SP to grow on whatever gets added to it from the posts I make (50% of your payout is paid in SP).
So bottom line is this; if you want your votes to make a significant difference, you power up. "How much" and "how often" now depends on the amount of money you've to spare. 'Cos as you know, SP cannot be withdrawn once but over 13 installments.
i have a quick question for you. I moved my steem dollars to savings and requested a withdraw. it takes 3 days. where is the steem going after 3 days
To your account. The part under "STEEM". That's the first row in your wallet. Then from there you can withdraw it
Suggestion: Try to take your time to understand things first and then invest money
Right that was my fault.
First rule of crypto: read before you make a trade!
I get that. My fault. So do you understand the Power Down feature. I dont have much. Like 50.
I believe if you recently powered up you have to wait a while before you can power down. Then I guess you can withdraw back to Bitcoin :)
see i am not the only one who doesn't know. that is scary
You earn more steem dollars and steem power in two ways:
To do the former, just read people's posts and upvote the ones you like. The latter requires some thought and care, but also will result in greater rewards if you stick with it.
Or you can just hold the steem you have. It's been increasing in value quite significantly recently, and will likely continue to do so.
But it seems like if I move it to lets say Poloniex or another wallet I lose USD value. What am I missing. When I go to sell at Market it shows significant less value.