In this article, we used layman’s terms to explain how Steemit works. We’ve explained in a very understandable way what Steem, Steem Power and Steem Dollar are all about. The article also tells about who votes, how to vote, the reward, and why some votes attract $100-500 to a post, while others don’t.
This part is devoted to the topic.
Steem
Let’s use analogies. Steem can be compared with gold. In the real world, gold has value. Its price can change with time and it is determined by supply and demand. In the digital world, Steem is the same as gold but only digital in nature. The Steem team opened its source of gold (Steem) and miners are working painstakingly to supply more and more new Steem in the system every day.
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Here is similar content:
https://steemit.com/steemhelp/@lehard/beginner-s-guide-part-2-steemit-how-the-hell-does-it-work
In another article, someone said holding onto Steem Power is the best idea and shows faith in the community. However, reading your article it seems like Steem has the real value in a sense like gold but yet Steem Dollars get that 10% increase. What percentage you should have of each? Or what is best to do with these 3 entities? Is it best to convert one into another? Hold a majority of one over another?
Being relatively new to all this and still trying to figure it all out, I appreciate the time you take to explain matters in detail. Thanks!