[Steem, Steem Dollars, and Steem Power Explained]

[shredlord]

A great video and clear explanation about Steem, Steem dollars, and Steem power for those who are new to Steemit. Welcome and enjoy :)

Comments

[leemeili]

Thanks for sharing this video. Now i got a clearer view about what is steem, steem power and steem dollar.

[crooklyncat]

FINALLY...someone explained it in caveman speak! I couldnt make heads or tails of the differences no matter how much i researched.

[playforpleasure]

Indeed!

[nuthman]

Thanks for the video! Anyone watching this in 11/2017 should view the video in youtube and follow the link to the updated version.

[rndness222]

Thank you, that makes it a bit clearer.

[fredrikaa]

I think one correction that has to be made (only because the video is now a bit old) is that STEEM no longer doubles every year. Due to community demand, the inflation rate of Steem was changed to 9.5% per year, reducing by 0.5% per year, as of December 2016.

The Power Down process now also takes 13 weeks instead of a 104. Which is quite note-worthy.

[xianzhao100]

请问有人能用中文解释一下吗

[tntdabomb]

you deserve a like, a hug, and a cookie. Breh, you explained it so well to us plebians that even a toddler would understand. You made it fast, educated, and simple. I'm a new user and I can't wait to help out this wonderful community. POWER UP!!!

[me-tarzan]

WOW great explanation and very informative thanks for posting this looking forward to your next video
me-tarzan

[me-tarzan]

Shredlord your saying 1 steem power = 1 steem when you power down . Here's an example let me know if this is correct lets say 1 steem is worth 5.00 us dollars on bittrex so therefore 1 steem power is worth 5.00 us dollars
1 steem power = 5.00 us dollars
1 steem = 5.00 us dollars

So when I power down and have lets say 1000 steem power and steem is trading for lets say 15.00 us dollars on bittrex 1000 X 15.00 = 15000 us dollars
let me know if this is correct
me-tarzan

[shredlord]

That's correct but when you power down it will start being paid over 104 weeks (2 years)
15000 usd paid over 2 years
= 144 usd per week for 2 years

Basically if you post good content you'll be able to retire in no time! ;)

[sircork]

This question and answer solved it all for me. Except... Is the market spot price set when hit the "power down" switch and set for the (now 13) weekly future payouts? Or is it fluctuating in market value weekly over the payout period? Thanks in advance, and sorry to dredge up this old post thread so much later. - @sircork

[shredlord]

Yea, it's gonna be fluctuation in value over the powerdown. Would be great if hitting the power down button set it in stone hehe :P Catch it on a week when steem value is high and you'll get a good payout, then cancel the power down when it goes down in value. I'm pretty long term personally so I'd say wait til steemit really takes grip before doing a full proper week by week power down. Could be worth an absolute fortune in the next few years.

[sircork]

I won't be powering down till we are talking about REAL money. ;) See ya round. Thanks again!

[stuntworksinc]

Great video and great follow up answers. Makes it easy to understand and definitely has helped this newb. Followed.

[poundcake]

thank you thank you thank you. Well explained.

[halo]

Thank you for explaining this. There are a lot of people you have no idea.

[razorwave8]

Great Explanation , the best explanation I have seen anywhere.

[e-steem]

Very useful & thank you for sharing. Now if they can just keep the site up!

[stella-apple]

Great video, thank you. One question - You mentioned that steam is doubled every year . 10% goes to interest on Steam dollar, 90% for interest on steam power. If that's the case, what about the steam given to new users?
Also, if heard ned mention it as 30% every year and not doubling of steam power every year, am I missing something .

[toxichan]

Your explanation is quite crystal clear. You've really cleared it up for me. Great job.

Cheers from Venezuela.

[matthewtiii]

Thank you. You explained it very clearly. I did read the white paper, but the jargon was unfamiliar as I am a crypto-virgin. This brought everything together for me.

[thereceptionist]

Thank you! great explanation :)

[jackedfinance]

More people in the world need to start investing in steem.

More people need to start investing generally.

[thedebrasanchez]

Holy cow, thank you so much for making this video. It's helped me out a lot.

[anarcotech]

A nice simple explaination, and some clarity around the value of steem (in all its different guises).

[toomuchlove]

thank you for explaining well about steemit.

[fastlegs]

Thanks for this really informative video.

[voghera]

Thank you man!!

[belidged]

This was exactly what I needed to hear. STEEM Power all the way :-) Thank you for your very calm and simple explanation. U/R/F

[inirobo]

Thank you dude

[hananova]

Thank you! Steem... steem dollar & steem power made simple! Very good explanation, I wanted to resteem it but I can't find the sign and I wonder why this post didn't get more steem dollars!!!!

[flowingman]

Great explanation so based on the potential crash of the dollar and I am in the UK; if I want to invest my bitcoins, I should buy "steem" instead of "steem dollars"? Exchanges only list "steem" coins and "steam dollars"

[lightabsolute]

Watching second time > so dumb
shredlord you are doing some of Jedi tricks 0:01 sec in video?)

[flauwy]

I didn't know about the 104 weeks powering down. Interesting concept. Thanks for sharing.

[cryptopanda]

Where does the money come from though? I'm missing that part.

[dafilipaj]

Best explanation I've seen so far. Great video!

[playforpleasure]

Thanks a lot really great explanation!:)

[playforpleasure]

Does it mean if you power up and you vote someone's post up they receive a higher amount of steem dollars because you upvoted?:)

[chuckypita]

Thank you - seriously @shredlord - I appreciate a video like this because I had no idea what the difference was between all this fun stuff.

[retiredinsamar]

Good basic explanation. Voted up, even though I'm not worth much. But I do have a better understanding of how to move forward. Thanks.

[wnluv]

Thanks @shredlord, I'm new to steemit and your video helps me a lot. Will follow you and check your blog to learn more about this stuff. Good Job!

[ricardod338]

Good post! Very, very useful!

[marcoharley1995]

Great explanation man, thx. I was soooooo lost.👏👏👏

[bwells]

Ditto

[taministy]

My brother @shredlord, apologize in advance. can you send me a link to be a blend for me to buy steem power in steemit.

[bwells]

Nice post.

Thanks for the information.

[haejin]

What is the number in parenthesis? How is it determined?

[zuzia]

omg very handsome.

[dbgudwbs31]

why couldnt anybody else explain it like this
after like at least 20 posts this one simple video helped me understand everything
thank you very much :D

[meianju-naihatsu]

Thanks this video was exactly what I needed

[stateless1]

Thank you this explained everything perfectly for me!

[stone19]

Thanks for sharing this video~