As being new to Steem and the community of steem, and crypto currency as a whole.
I'm still trying to figure out whether to buy"Steem" "steem power" or "(Steem)" in savings, its all confusing.
I see most of your savings in in steem savings.
Is that what you meant about buying steem?
As i look at yours and pretty much everyone else, they have nothing in "steem", the first thing you see in your wallet, but load up on steem power and steem savings.
Seems so confusing, with that said, Now are uncertain times indeed, but one can say its also a great time to invest in Bitcoin, especially since everything is based off buying another coin such as steem using Bitcoin or even Etherium, not to mention Bitcoin and Litecoin seem to have the best properties as far as being finite value,something that are decentralized. where as almost all the rest can easily become centralized.
I will also throw out there Gold and Silver, especially Silver is is at the best prices one could buy in on, and I'm not talking paper but physical ownership.
Your article always is very informative, and I have lots of respect for the time you put into it.I enjoy reading them.
I have said and will continue to say, crypto is here to stay, and now is definitely worth getting into, I just wanted to say, diversify, buy crypto for sure, but don't overlook Gold and Silver
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Hey guys. I'll try to help.
Any questions, hit me up and I'll try to clarify!
Wow that was extremely helpful. I'm pretty new to the site and haven't had a chance to dig in. That cleared up plenty for me as well. :)
A CHAINED BIKE NEVER GET STOLENNNNNNNN!!!
haha
#CHAINGANGWASHERE
We the most gangsterist price raising crypto thugs in this bitcoin recession ghetto!
Come hold your coins with us and we'll make sure they never get stolen by whales or Babylon corporate reptilian army's for you!!
LINK UPP
#ADVANCEDHODLTECHNOLOGY !!!!!
#AWARENESS
#CHAINGANGSTRIKESAGAIN
JOINTHEGANG
WEGOTYOURBACK
-we the people
What? CHC is a dead coin taken over by a pump and "hodl" group. That in and of itself makes absolutely no sense. If you just HODL forever, then what difference does the price make? Are you going to hodl your MN earnings too?
And whales never "steal" your coins . . . people voluntarily sell them in a panic. If you watched btc today, we are not in a recession.
Which of the forms earns dividends/Interest? what for is the interest paid in?
You can check my other posts on @lovelyday
and also follow and upvote me.
Thanks to all friends.
SSSOOOOOOO HELPFUL! Thank you for the clarification! Haha
thank you. that explains it really well.
Great response. The only correction I'd make is that Steem Power has nothing to do with how much you get from the upvotes of other people. That is entirely dependent on their Steem Power, not yours.
I tend to think of Steem Power as being like owning a share in Steem's future because it gives you your voting rights and influence. Steem should really only be held if a person wants the liquidity to sell or trade it.
WE THE ONES WHO JUMPED SEGWIT!!!
Quit spamming your CHC memes all over the platform. Thank you.
This was very helpful @abstractart - thank you. I have a question about what "Redeem Rewards (Transfer to Balance) means and what that does. Is it better to hit that button or let it sit in the part of the wallet that is highlighted in light green? Can you tell me what that is all about? Thanks.
The "Redeem Rewards" function is a fairly recent change to Steemit. Previously rewards were paid directly into your account balances and this step did not need to be done. The change was made simply to help the blockchain run more efficiently, as it reduced the number of transfers/transactions happening since not every little .001 Steem was being sent, instead being accounted for in this ledger type balance.
Click it whenever you think about it, there's no harm in claiming often and in fact there is no benefit to just letting it sit there unclaimed. The sooner it is in your actual account balance the sooner it is earning interest for you or making your votes more powerful (if it is Steem Power.)
That was a helpful explanation thanks
Thank you @bryan-imhoff! I appreciate you taking the time to answer my question.
I agree also very helpful! It is a complicated system to grasp.
This is the best explanation i have seen on this thus far. Thanks abstract! Will upvote you and follow!!
Thanks for clearing this up, I kinda felt it was wise to put my earnings into SP, glad to know now!
You and Jerry have been most helpful!
I follow you in youtube and thanks to you I got to know steemit. Never heard of it before. What I really don't understand is when to sell. You always make comments on don't buy high/sell low (like a lot of people do), so, the next question would be, When Should I Buy/When Should I Sell any cryptocurrency? Im in it for the long haul but when is it the best time. You never know what's going to happen in this market. Thanks and best regards from Mexico.
Thank you so much for explaining this. I'm new to steemit and I was really confused about SP,SBD and STEEM. You made it super easy to understand. I think anyone new should read this post.
Very nicely broken down. I think people don't understand the whole power down process. Steem really has good protocol measures to ensure the daily operations go smoothly.
Soooo what exactly happens when I upvote?
Great reply @abstractart.
One other question.....what is the "SAVINGS" item about ?
You can check my other posts on @lovelyday
and also follow and upvote me.
Thanks to all friends.
I'm a little clearer now, thanks!
How can I get / buy SBD if that's possible though?
good explanation!
I am new here too. Great explanation! Thanks.
excellent comment
Thanks, @Abstractart!
Very helpful thanks ...
Very helpful! I had a basic understanding but was still foggy on a few things. This really clears it up! Thanks!
Thanks a ton, @abstractart. That clears a lot of doubts for a newbie like me. Hope to learn more as the days go by.
This helped SO MUCH. I'm a newbie and very confused. Thank you very much for explaining!
Also, is there a way to save posts? Could use yours to come back to in case I get confused again haha!
Thank you for the explanation, am new here and still learning.
I hope for all and for myself that steem will go in a right direction! cryptocurrency based on socialmedia - that is a lot of potencial and must be a Success!
jerrybanfield I realy like your content, a lot of useful infos !
@kam.ila
Just be careful, this market still has room to drop until August 1, so again... be very careful.
We the big homies who Jumped Segwit
#CHAINGANG
#LINKUP
We'll make sure your bike or your bitcoin value don't get stolen..
we got your back!
It is the best time to invest in Bitcoin if you have large amounts of money. If you are a beginner with a small capital, your best investment lies within the alt coins. In simple terms, you will get more for your buck. With that said, it is important not to invest in just any alt coin. Investing in the alt coins with solid team, good technology, and a great community, like steemit, will certainly yield a great return.
Here's an article that is well written and easy to read and understand.
https://steemit.com/steemit/@mindover/steemit-for-dummies-like-me-everything-you-need-know-to-get-started
I 100% agree with you on gold and silver. Diversify as much as you can. (Many eggs, many baskets).
great question...i have the same questions as you do bro...i am new here and seeking answers.
If you want to buy anything, it should be steem. Then conver to steem power(power up). Othewise just having steem in your wallet is pointless unless you plan to convert to cash.
I agree... Bitcoin, gold and silver all the way. And maybe a few altcoins like Steem / ETH / Antshares etc...
Totally agree to diversify with Crypto currencies and also with gold/silver.
You can check my other posts on @lovelyday
and also follow and upvote me.
Thanks to all friends.
Stop spamming
Correct! And check out our interviews
We're going to talk about it w/ Top influencers:
https://www.youtube.com/blockshow
I'm fairly new as well and i've learned to keep a nice spread. That way they can some what balance each other out. Then you have the quick flipper coins which price jump up and down daily. Just buy low and sell high t all times. Happy vibes and I wish you well.
Thanks for posting this article link. I want to learn everything I can about Steem since this is my first crypto currency.
@roadscribe step number one: Hurry and buy as much Steem as you can while it's this cheap. You will never witness this again with this one. New heights or projected and it's all aboard the Steem express. What's beautiful about this platform is the fact it has this grassroot type feeling where it allows its users to help build their platform.
Most who don't understand stand it would simply call it a scheme yet the platform speaks for itself. Everyday something new is being incorporated to help improve the overall stability of Steem itself.
Block chain technology is the future and the future has begun. Don't be one of those guys talking about how you had a chance when it was sooooo cheap. It's simple to purchase. Do you have a coinbase account or a means to purchase bitcoins?
That's awesome I cover 2 big things effecting Steemit payouts here:
https://steemit.com/steemit/@stealthtrader/why-are-steemit-payouts-going-down
THIS is the question I had in mind while reading this article. "Steem" or "Steem Power"?
Needless to say, I'm new too (and very clueless).
those are the same things steem power is just on your account here locked up
Oh okay. Thanks!
Thank sir for giving the knowledge of Steemit thanks a lot
I'm right there with you! Am brand new to Steemit/community/crypto world, but would like to buy a little as well... but which version of steem?