As simple as I can put it and still be correct (IF I try to explain anything more complex, I'll shoot myself in the foot... I haven't even had the time to read the white paper yet...):
When someone upvotes you, they're giving you a token called STEEM. The amount is based on their Steem Power and their current voting power.
So, say, your post is now worth 5 STEEM.
The STEEM, like the paper 5$ bills in your wallet, are worth NOTHING if no one will exchange something for them.
For $, the value is abcked by banks and governments.
For STEEM, the value is backed by people buying/selling STEEM through exchanges.
If STEEM is only on a single exchange, and a single person is wanting to buy STEEM at 50$/STEEM, your STEEM is worth 50$, therefore your post is worth 5 STEEM*50 $ = 250$
But ONLY as long as that one person keeps buying your STEEM !
IF said person decided he wanted 4 STEEM at 50$, but any extra STEEM at 20$, your steem would effectively be worth what he is ready to pay for your 5 STEEM. So 220$
Does that help ?
I'm a bit tired right now, but I have an obsession with answering people's questions, so I couldn't help it XS
Thank you. As you probably guessed , I'm new here. But thank you for making it clearer for me.
Do tell me if I've made a fool out of myself by ruining the explanation...
I'm half-asleep right now XS
You never do by trying.. Learning by doing ;)
Its not quite right yet, you don't get STEEM but Steem Power and Steem Dollars which you can power down. But since its late for me too I don't get into detail here. Just read more about it. I think its necessary for members to understand how it works..
Ok, I took an unwarranted shortcut in the conversion there XS
Yep... more and more I'm realizing that a plan is good and all, but it's DOING that matters.
I'm currently reading Ramit Sethi's Your Move book, and in it he talks about the
invisible cost of doing nothing, and how it cumulates the longer we do not take action on our plans.
Taking action may lead to failure, but doing nothing always does.
(I think that's a quote... can't remember where, but I think he said it at some point XS)
Thats my philosophy ;)
How is the book?
Very good.
Ill be trying my best to apply its lessons throughout this summer.
My main problem has always been that on one hand, I can imagine thousands of things to do... yet on the other hand, I cant seem to think up any I would be able to do XS
Launching a skill when youre not sure hiw you can help people is kind of hard XD
Thanks, will check it out..