If any one can help me understand all of this I would appreciate it. I am in foreign territory with all of this and it's extremely overwhelming.
Help Me PLEASE
7 years ago in #help by manimal (25)
$0.00
If any one can help me understand all of this I would appreciate it. I am in foreign territory with all of this and it's extremely overwhelming.
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STOPHey what do you want to know, If you want to look better change your icon in the settings.
The more i read the more lost I am. This STEEM and Steem Power and everything. Buying,trading its giving me a headache and I need a Steemit for dummies guide or something ha
well you need to spend some time on youtube..... it took me a month as i am computerly challenged as well. start with a search on youtube "steemit for dummies" or posting on steemit, how voting works, new to steemit .......etc
i will help you... first when you post make sure you start with a picture or an image. Secondly start posting comments and upvoting posts on others work. Take some time on youtube and type in your questions and learn some basics. Go ahead ask me anything
I guess my first question is the Steem currencies, what is the difference and how are they used in comparison to each other?
So there is steem, steem power which is just steem that you lock into the platform so you can have more voting power and then there is steem dollars sbd which are pegged to 1 usd.
Both currencies steem and sbd can be withdrawn anytime to an exchange and converted to Bitcoin and then back to usd $ to your bank account. Main one is steem , once you buy steem or earn steem you can power up and convert it to steem power which gives you more influence and voting power and other people will start paying more attention to you because they want your vote which is now worth more, so having steem power helps you attract more votes. So having 500 steem power makes your vote worth 10 cents instead of 1 cent. You can vote 10 times per day and your voting power regenerates that much per day. Withdrawing steem power takes 13 weeks incrementally goes back to regular steem you can withdraw. Steem dollars aren't used as much it's basically like just converting your steem to a tether, a place that locks into a usd equivelant to lock in StEEM to stop volitility without having to withdrawal it all the time