No idea. It seems the STEEM/SBD/Steem Power, etc. is different from the underlying article posting technology which seems like more of a competitor to Medium, Reddit, etc. Really I need to spend some time reading the whitepaper to get a better understanding of how everything works.
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In short:
steem is like having an assent in an decentralized platform.
Steem is inflated 100% per year. From that round about 90% goes to steem power holders 5% goes to curators, 5% converted to steem dollars as post reward.
(not mentioning the miner / witness reward)
steem power is steem that is ¨trapped¨ for at max two years (in average 1 year) . Steem power equals the power of your voting influence, urrently mainly used for distributing the post reward and electing the witnesses that take are of the blockchain consensus.
Steem dollars are pegged to the dollar and should in the long run give a stable currency to do commerce. The witnesses decide on the interest on steem dollars, currently it is 10% per year. Steem dollars can be exchanged to steem equal to the average steem price of one week. This conversion takes one week.
That it, have fun!
Here a great picture to explain:
thx @deepsinergy
https://img1.steemit.com/0x0/https://ipfs.pics/ipfs/QmcD92oakBiGWr5Uu5tvy3a45zqPVKUT7dhr8RCm4RjPmz
https://steemit.com/steem-help/@fran2k/steem-network-asset-classes-steem-steem-power-and-steem-dollar-explained-in-one-chart
The white paper is a great read. I actually read it twice. It's not just tech, but includes some economics, psychology, and philosophy as well. Just be careful though, it hasn't been updated. After reading it, it's a good idea to go through the steemit blog and dan's blog (along with, possibly, the releases on github) to get a feel for what has changed since the white paper.
It may take a few sittings, but it is well worth the read. Rather ingenious designs and incentive schematics.
About halfway through it. Very creative and could be a very elegant solution to many problems. Extremely exciting.
hi @tracemayer , nice to meet u here
Good to see you here Trace.
I'm an indirect investor in Kraken through Bank 2 the Future.
Been an admirer for a while now.
Keep it up man! BTC 2 da mooooon!
(pretty soon too, WW3 should do it.)
upvote for u here, welcome