What's In My Wallet?
This is a "Quick Tip" to help those that happened to notice something cool in their wallets (and it better than you think). (see below)
In the picture above you can see 3 lines of real money that has accumulated in my wallet (but you have your own). This is money that you have earned and you can do with it what you like. It is yours and you've earned it.
First Is STEEM
STEEM is a currency that has been created and you've earned. It trades exactly like every other currency in the world.
Note: Right now as of this moment the value (or also called the exchange rate) is US$6.21 for each STEEM you own. (Note: if you live outside the US just multiple your own exchange rate to the dollar by the dollar value of your STEEM)
You can get the current price by clicking this link (CLICK HERE)
You can sell it, you can buy it, you can hold it; just like any other currency. To find the value of your STEEM just multiple the amount you have times the price listed. So if you have 5 STEEM, you would have about $31 of value!
Calculation: 5 STEEM x US$6.21 = $31.05
Simple huh? :)
Next Is STEEM POWER (or SP)
STEEM POWER or more commonly referred to as SP is also very easy to understand. It is STEEM you have earned that you have decided to keep/invest into the platform. What do I mean invested? It means you are going to "tie" your STEEM up (or "invest" it) for a period of 13 weeks so that people know you are going to be around for awhile. You can get your SP powered down back into STEEM at the rate of 1/13th per week.
Note: you can always take your STEEM out if it is in your STEEM balance by just selling it to any exchange, BUT you can't redeem your STEEM POWER until you tell the system to "power you back down" into STEEM.
Said another way, STEEM is what you want to keep if you plan on selling it soon. STEEM POWER is what you want if you plan on being here for the long term and holding it.
Note: the benefits of keeping your money in SP is that you get higher voting power and more bandwidth. Both of which are desirable and useful benefits. If you see those big big votes that have ever hit your posts, its because the person that upvoted you had a lot of SP and therefore they have higher impact on your earnings.
So the value of STEEM or SP are exactly the same, the only difference is whether you want to sell it immediately or not.
Note: the way you power up your STEEM into SP is the click on it and select the option "power up". And the opposite is true too, to power down your SP back into STEEM you just select your SP and click on the "power down" button.
My personal opinion and my strategy is that I plan on being here long term, so I am investing all of my STEEM into SP by powering it up the minute I get it. Everyone has different objectives, but mine are to grow my SP over the long term. You have to decide your own strategy, this is just an attempt to explain how it works and what my thoughts are in regards to my own situation.
Finally We Also Have A Bonus Called Steem Dollars (or SBD)
This is a 2nd currency you earn that is independent of STEEM and is also yours to do with as you wish. You can buy, sell, or hold it. It also trades on exchanges (CLICK HERE) and you can sell it or buy it at any time you like (see my current quote below)
To find the value of your SBD just multiple the amount you have times the price listed. In my case I have 4.35 SBD, so I have value in this of about $36!
Calculation: 4.35 SBD x US$8.43 = $36.67
Finally ADD Your STEEM Value To Your SBD Value (And Find Out What's In Your Wallet) :)
So when you calculate your value of your account you just do this simple calculation:
Add up the total value of your STEEM + (SP) and multiply times the market price of STEEM
My account right now (0 STEEM and 18.334 SP) = total 18.334 STEEM x US$6.21 = $113.85
Add up the total value of your SBD and multiply times the market price of SBD
My account right now (4.35 SBD) x US$8.43 = $36.67
For a total of the 2 currencies (total value of my account) $113.85 + $36.67 = $150
Conclusion
This is just another "Quick Tip" that is meant to help those that don't understand how it works. I as always would be happy to answer any questions in the comment section below. In addition, if you would like me to personally look at your account and tell you exactly what its worth, just tag me in any comment @davemccoy and I will be happy to come and help you.
I plan on going over strategies in the near future and the different options that you have available to grow your balances wisely. I'm currently evaluating several services like @bumper that I have found to be a great help to me. I wanted to give you a basic understanding of what the currencies are so that you can take full advantage of the opportunities I plan to present ahead.
Have a terrific day and please leave any comments letting me know if this was useful. :)
A great explanation. I took a long time to understand this when I first joined. I wish there had been a great article like this, then
Thank you for saying that @sayee, that is very nice to hear from a more experienced steemian. I'm glad you took the time to read it and to let me know. Its good to wake up and see this compliment first thing in the day :)
welcome sir
Always helpful information. So may I ask...the steem which is at .oo1 for me is what shows up when I upvote something? and that reflects my voting power which pays those whom I upvote?
If so then SP is what? bandwith, influence?
Should I buy both? That way my steem or vote helps pay others, as well as my SP is kinda like savings?
Am I overthinking this,lol. Thank you again. RESPECT
I'll try to help you with this answer, so just tell me if you need further help.
Upvoting something does help you to earn currency, but it is not yours until they pay you in your wallet.
So you are asking about 2 separate things. Upvoting is just one way to earn money as a "curator", the other way to earn money is being an "author" of both posts and comments.
So I'm going to upvote you right now to make this explanation real to you. I just voted you $0.01. Now what that means is that steemit will pay out a total of $0.01 in 7 days. You as the author will get at least 75% of that and I as the curator can get as much at 25% of that vote. In 7 days, they will pay that out and it will be paid 1/2 in SBD (or 0.005 total SBD between the two of us) and the other half in US$ equivalent of STEEM... You will know what happens as you start getting these payments and they are automatic after 7 days.
Now you wallet is simply where they store up... They are an accumulation of all the things you have earned so far (but remember it takes 7 days for anything to show up). What you are seeing with the .001 STEEM is what they gave you when you opened the account.
Finally SP is it, its the one to own ultimately (remember though it will change in price a lot)... Its what you want to have because its what give you earnings from just your votes. Right now you don't get much for your votes, but as you get bigger your votes get bigger an therefore your earnings get better. I am working on putting together what you can do with your SBD, but I am either using @bumper or converting it into more SP (depending on the conversion price being favorable to me or not).
I think you can never overthink anything ;).. It takes some brain cells to wrap your mind around this. I would say that you shouldn't get frustrated, because while it is simple once you understand it, it is very hard to grasp in the beginning. So giving it some thinking is a good thing.
Just ask me questions you have at any time, but if you want to learn it, I promise you that I can teach it to you. :)
Thank you again. I appreciate the time you have spent just replying to my questions. I have learned alot from them. If I have any others I will ask. RESPECT
That's what I hope for, that's how we grow together! :)
Great and useful information, thanks @davemccoy. Am grateful have been looking for someone to explain these things., and i know there are many people like me and thats why am re-steeming this post.
Hi @mike1wealth its great that you commented to me. First we get to connect to each other, second because I get a chance to tell you that I am always here to give you any help from my experience I can. I'm glad you liked the explanation and I welcome you to read my blog page which has about 10 other articles that also cover issues you are going through right now. And if you have any question about any of it, jlmk and I will be happy to respond and do my best to help you.
I also wanted to tell you that early in the game the best thing to do is what you just did, and that is to make a sincere and honest comment to an author. It helps you to get to know people and establish connections and it also helps you to earn far more in the beginning because authors appreciate honest and truthful responses (and they will upvote you just to encourage you to continue to do so).
Note: I am going to upvote you too, but my vote is still pretty small, but don't worry about the money because it is all about getting respect. That's how you make it here in steemit, its be improving your reputation and earning the respect of your peers.
I sincerely appreciate you taking hte time to comment and to let me know you liked the post. And the resteem is also awesome, so thank you also for that. I hope you stay in touch and I'm glad I got to meet you so early on. Cheers :)
This is a very useful post, thank you very much 🙂. It really helps to put some things into place for me about how Steemit works.
Also a quick thank you to @looksfarwoman who recommended following your blog 🙂
I'm glad you like this @ezmonator and I'm glad she connected us too. I know you have @looksfarwoman to give you guidance, but if I can help with anything let me know!
ps I'm upvoting you so that you realize that making lots of sincere comments to other authors posts is a great way to make friends, build a following of your own, and also to make a little money. Its the best way to succeed, so keep engaging!
Thank you @davemccoy! I'm definitely trying to get myself into the community more and make sincere comments. Especially as at this point in time I have no idea what to blog about 😂.
You got the right idea... I checked your page and you have enough on there if someone wants to check you out... Now you need to get out there and jump into conversations... There are many cool people here so use the tags on the left when you first come in and find topics that interest you and just make comments... I also suggest you follow first everyone on the page you like, because chances are they will like you too... And at a minimum your feed will fill up with people that you have something in common with... Keep in touch I'd like to see you do well!
You just ooze good advice don't you @davemccoy? 😂 Would it be too much to say thank you again? 😋
Of course not...lol... Let me know how you are doing and focus on getting those comments out there letting people know you. You're welcome to comment to me any time :)
When you power down you get it by the month? I heard it was a 13th of what you have in sp each week for 13 weeks. I read this by more than one source....
yes you are right... I wrote it wrong, I'm going to fix that... thanks for the heads up @jentz44 :)
Love the update function, lol... I have fixed many such mistakes. Thanks a lot for the catch, hopefully it didn't confuse too many before I change it!
You're welcome! Glad I was a help :) if I see things like that that I know I'll point them out in the future.
thank you @davemccoy for this information. I'm only on my 2nd day although i had the account well over a month (i think).
There so many steps and jargons for me to grasp too, but i'm getting there.. slowly but surely.
Hope you don't mind me bothering u in some of my doubts or confusion with steemit ... i just did 2 post... this is a totally new world for me and of cos for every newbie.
You are always welcome to "bother me" lol... I welcome the opportunity to help you @carolfung (my Mom's name is Carol so that's got to make you a nice person) ;)
I have written about 10 articles about topics that are going to be coming up soon for you and I too was lost a bit in the very beginning. The good thing is that time moves very fast in steemville and you will be teaching others within weeks :) ... If you want to go through my blog I have about 10 articles and at your stage (day 2) you should only read what you are interested in at this moment (otherwise it will go in one ear and out the other).. The biggest thing seriously is to ask me anything, I don't mind helping and no question is to stupid. I understand that everyone has a different background, skills, interests, and motivations; so just ask me any time and I will always be happy to help you...
And btw, you are doing well for day 2... You already have a reputation score of 34, which is up from 25 in just 2 days... Impressive!!!
And second btw, you naturally are doing something right now that will serve you well, and that is engaging the author (me) with a good well thought out and sincere comment. Authors like that and will upvote you if they feel they bond with you. So just to show you how that works, I am upvoting you right now (its only 0.01, but its something for just being engaging and honest) ;) ...
Also I am now also following you because I feel a connection by your question and the impression you gave me. That is another benefit of engaging the authors. (Hint: one more thing, most of the people that comment on my page are the same as you, so you might want to follow them to make more connections and learn who the good people are).
Ok, sorry to be so long, but I wanted to welcome you and I did like the way you asked your questions.. I promise I won't be as long winded in the future, and my fingers aren't even crossed behind my back :)
I hope you stay in touch and of course visit me regularly and often... And I will also look at your posts and get to know your work too! Welcome to steemit!!!
@davemccoy,
I have upvoted and resteemed, hope I was of little help here
also, I would like to share a website with you where you can find lot information about bot software
https://s3.amazonaws.com/yabapmatt/bottracker/bottracker.html
We can check the available bot, their return, time when they are active, steem power and the minnimum bid they accept
awesome... I will check that out prem! That's the way to share good ideas and build our community!
sure @davemccoy
help and gain help
we r growing together
I tried it last night... fascinating... thanks prem
Wow this is super helpful info! I just started using steemit 3 days ago and am new to ALL of this. This explained things very well for me! Resteem!
Thank you very much and you are doing very well in your 3 days (Hint: I can tell by your 47 reputation score in case you haven't gotten to my Reputation article yet) ;)
Its very nice to meet you and I'm glad you commented, now we are connected and to me that's the best thing about the comments I make (I meet new people). I am happy to have your here on steemit and I will be available to answer any question you may have at any time about anything. I'm certainly not an expert, but if I don't know the answer I'll try to find it.
Welcome aboard @alaynaclair and stay in touch :)
I did not know all this in details. Your post is very helpful to me I love it your an eye opener to the newbies. The community need vibrant people like you. Thank you for sharing this. God bless you
I'm glad you found it helpful @fidelmboro :) ... And thank you for the compliments and your observations! I also want you to pass this kind of information along to your friends and followers in your words too. We can all be the vibrant people you said I was, and I am convinced you can be a vibrant person helping others out too! Thanks again and may God bless you too my friend :)
Thanks for the summary. An explanation of the utility of SBD would be helpful, too.
Its coming very soon... I had to get the basics down first so that I didn't make the article explaining that too long. Thanks for telling me what you like, its good to know what people are interested in learning more about. Also to give you a quicky on that topic. It is just a currency that is how we get paid for our posts/curation... When you see the little pennies, that is the amount you will be paid out at the rate of 1/2 SBD and 1/2 of the dollar value of STEEM. This took me awhile to figure out their formula, but now I can figure it... So as of today if you get a .01 its not just a US$ penny... If you want to know before my article comes out just ask.
And as for the utility, I've used my SBD for two purposes.. 1) using services like @bumper that will grow it your value through compounding quickly and 2) converting my SBDs directly into STEEM (and then powering them up into SP)... Because of the big move in STEEM, I'm focusing more on #1 right now and not on #2... But a week ago I was get more than 2 1/2 STEEM for each SBD and I was very happy with that. Again I will also be covering this topic soon too... If you have any more questions, jlmk! Thanks for the feedback too, its appreciated @jbriggs
Great post and nice simple explanation.
Thank you very much @meepsy, I definitely appreciate you telling me that!
Wow! Thank you, it was really helpful!
You're welcome @aniwah :) I'm very glad you told me! If you need me to help you with anything, I'd like that!
Thank you very much. For me it has been a very good explanation. Greetings
Thank you for letting me know Carlos... I'm glad you stopped by and read it. And of course, you're welcome and I'm always happy to help you. We are connected and we are both 2017 Classmates
Thank you
Of all assets, one of the most important is knowledge! Tks for sharing, always useful tips!!!
So true @helder-coelho! And you are welcome and thank you for telling me it helps. Have a good weekend and stay in touch!
Have you cashed out any STEEM or SBD yet? I would be interested in learning the easiest and safest way to do this.
Two major exchanges trade SBD and STEEM - bittrex.com and poloniex.com. As of the time of my typing this bittrex.com has frozen new account creation because of surge in demand / server overload, but poloniex.com is still accepting new members. In either case, you will have to jump through lots of hoops to include a picture of you holding your ID, hand writing out a statement saying you are signing up with date and signature, and giving up your first born son. One of those things may not be accurate :) The basic process is to transfer your SBD or STEEM to the exchange you have an account in, than trade it for a currency like bitcoin that is easier to turn into fiat currency. With bitcoin for example you can get a bitpay card which is a Visa debit card that you can load with bitcoin - the market price for bitcoin at the time you load the card is how much money you have to spend. Feel free to reply if you have questions :)
I have not been down that road, hopefully someone who sees this will respond and we can both learn together. I believe you set up with an exchange to do that and here is the link in the faq's that give the info they have, but with over 200 different exchanges I'm sure there are many firms to do this.
https://steemit.com/faq.html#How_can_I_withdraw_my_STEEM_or_SBD_coins
How can I withdraw my STEEM or SBD coins?
STEEM and SBD tokens are readily tradable to bitcoin, which is readily tradable to the local currency of your choice. There is a link to "Sell" your STEEM and SBD tokens in your wallet, which uses the BlockTrades interface.
There are several guides that have been posted by users in the community for using various external exchanges to withdraw STEEM and SBD tokens. Please read the disclaimer before using any of these guides to withdraw your coins. The users, guides, and exchanges listed in the guides are not endorsed by Steemit, Inc. Use the guides below at your own risk.
It is recommended that you withdraw a small amount first, to verify it works before withdrawing a larger amount.
Sell Steem Dollars via Poloniex
https://steemit.com/steemit/@ash/steemit-how-to-sell-steem-dollars-via-poloniex-newbie-friendly
Withdraw Steem Dollars to a Bitcoin address
https://steemit.com/steem-help/@piedpiper/how-to-withdraw-your-steem-dollars-in-less-that-a-minute
Convert Steem Dollars to a country’s currency and withdraw to a bank account
https://steemit.com/tutorial/@beanz/how-to-get-my-usdteemit-money-into-my-bank-account
Convert STEEM to many other cryptocurrencies via ShapeShift
https://steemit.com/steemit/@shapeshiftio/official-announcement-shapeshift-has-added-steem-to-the-exchange
Thanks for the summary but when i.try to.sell it doesn't do anything
You sell though an exchange, I'm not sure why they have the buy and sell buttons on that page, but it might have to do with once you are linked to an exchange account (I haven't got that far yet) :)
If you tell me which one you want to sell (STEEM or SBD) I'll try to find what exchanges you can go through. But it is liquid, I see the volume every day...
And if there is any knowledgeable steemers reading this thread, I welcome the input to both myself and @kevinkarron
This is great! Thank you for the breakdown! What’s the best way to cash out STEEM and SBD?
I have never done that, but I hear its really easy... There is over 200 cryptoexchanges out there all trading various currencies... Here is the link to what steemit says in their FAQ help section... Let me know if you figure it out too, I get asked that quite a bit.
https://steemit.com/faq.html#How_can_I_withdraw_my_STEEM_or_SBD_coins
How can I withdraw my STEEM or SBD coins?
STEEM and SBD tokens are readily tradable to bitcoin, which is readily tradable to the local currency of your choice. There is a link to "Sell" your STEEM and SBD tokens in your wallet, which uses the BlockTrades interface.
There are several guides that have been posted by users in the community for using various external exchanges to withdraw STEEM and SBD tokens. Please read the disclaimer before using any of these guides to withdraw your coins. The users, guides, and exchanges listed in the guides are not endorsed by Steemit, Inc. Use the guides below at your own risk.
It is recommended that you withdraw a small amount first, to verify it works before withdrawing a larger amount.
Sell Steem Dollars via Poloniex
https://steemit.com/steemit/@ash/steemit-how-to-sell-steem-dollars-via-poloniex-newbie-friendly
Withdraw Steem Dollars to a Bitcoin address
https://steemit.com/steem-help/@piedpiper/how-to-withdraw-your-steem-dollars-in-less-that-a-minute
Convert Steem Dollars to a country’s currency and withdraw to a bank account
https://steemit.com/tutorial/@beanz/how-to-get-my-usdteemit-money-into-my-bank-account
Convert STEEM to many other cryptocurrencies via ShapeShift
https://steemit.com/steemit/@shapeshiftio/official-announcement-shapeshift-has-added-steem-to-the-exchange
I already have an idea about these three but I remember how confused I was , so thank you for helping new steemians understand it in a simple Quick Tip
you were mentioned by @plushzilla
Awesome that you are passing along information from @plushzilla I hope to speak to him tomorrow... And thanks for taking the time to let me know you think this is useful (especially since you already know it)... That's cool... :)
Brilliant I knew none of that & been here for 3 weeks I have been doing the same hitting that Redeem button when it comes up also I am still set at 50/50 in settings & think it was you asked about that about 2 weeks ago. I said I would keep it at 50/50 have you? or is it best?
Yes you don't need to mess with that 50/50 button professor, I don't even know why they put it there. I'm glad you got something out of the article and please let me know if you have any questions about it or when you try to do anything, I'd be happy to help you :)
Every time Ive had steem I have converted it to SP I didn't know what it was I have had some trouble with bandwidth the last couple of days I posted a you tube vid on someones comments & think that might have done it. I couldn't do anything for half a day that was annoying.
no it wasn't anything you did... It has happened to every one of us smaller guys this last 3 days... I have been down too. It has something to do with the blockchain and my guess is the record cold snap did something to with it. I'm certainly no expert, but I do know it wasn't just you. I checked many accounts my size and lower and they were all out.
Its annoying yes, but it just shows me how much I love it here too :)
I would say if you have less than 1000 steem power it would be best to collect everything in steem power. More steem power = bigger value of your vote.
I agree @royaleagle
Thanks for the quick break down and the further explaination in the comments about where the tokens come from. I resteemed this because i have some new friends
You are welcome of course Albert and I appreciate you taking the time to comment and let me know your feedback. I also appreciate the resteeming because it shows you are trying to help your friends and that is exactly how you are going to grow :) ... Keep that great attitude up and if I can help you with anything, please let me know :)
Thanks Dave, this is very helpful and you are doing a great service here! You seem to have a very good grasp of how this works. I have the same goals as you, I plan on doing this long term, so I’m going to follow your lead. If you have time and want to look at my wallet and give me advise, I would always appreciate it! Also, thanks for the info on @bumper that you gave me, I plan on using it very soon.
Great Todd, I'm glad you read it... I did look at your wallet and I suggest you send in 0.10 in SBD and do this post you did so you can track the impact:
https://steemit.com/angel/@toddcurry/two-angels-201814t231627297z
I suggest that you do only 0.10 because I don't want you to feel uncomfortable in the beginning, but after a few times you will want to be doing 0.50 ... I'll follow up with the exact economics of @bumper, but it makes it easier if people understand how to input it and how to follow what the upvote means. Once you get a system down to track it, it will become a perpetual part of you daily routine. (I'm submitting 10 a day right now and would've submitted more,but wanted to let you guys all have a chance to get in for tomorrows action).
Let me know if and when you do it and I will try to keep an eye on it for tomorrow too... And I'm glad to her that you are long term here, that is how you can grow the most (by reinvesting and getting more SP)... Stay in touch and let me know if when you do something so I can watch out for it.
i would also like you to try @boomerang , for me ,it has given much return.
And if u want more number of upvotes, try @booster
Also, I would suggests @postpromoter, @allaz
Feel free to visit my posts and my wallet to check the bots i use
Nice clearly written post @davemccoy. Good job explaining it in terms that a newbie could understand. Much love - Carl
Thank you very much for taking the time to tell me that @carlgnash... I always value input from people more experienced than me. Its a nice thing to do also, it gives validation to the message and adds to the impact. Thanks again!
I think the first thing for any new steemiter to understand is to know EXACTLY what these currencies are, and how each of them work and how you can use them to leverage your future with steemit more effectively.
Thank you for your informative posts targeted at new guys, @davemccoy!
I have the following question:
Is the dollar amount we see on a post, is this USD? Or is this already given in STEEM? And do we see the amount we will get, or are we going to get 75% of this?
Upvoted & Resteemed!
Best regards,
stochasticmind
I agree that understanding the currencies is very important because a lot of people get frustrated when they just see 0.01... But in reality it is way better than that. Thanks for the comments on it helping you stochasticmind...
To answer your question, no it is NOT USD that you see. I have figured out a way to do the calculation that is pretty close, but I'm no expert by any means. This is how they do it in my simplified version without taking into consideration the little nuances that don't change the equation that much (in my opinion):
The money you see (like $2.08 currently on this post for instance) is the total money that gets paid out on the post or comment.
The author gets at least 75% (maybe more) and the curators (voters) get no more than 25%
Note: that number will change a little based on all the other activity, but it usually doesn't move too much after a few days have passed.
So in my example I will get $2.08 * .75 or $1.52 (but that's not US dollars)
What happens is at the end of the 7 days you will then get paid out 1/2 in SBD and 1/2 in the dollar value of STEEM (but in the form of SP).
So half of the $1.52 will be $0.76 in SBD
and half will be $0.76 worth of STEEM (and you then have to see the market price on that day to determine. In this article STEEM was $6.21 so you would take .76/6.21 to calculate the SP you get (0.122)
So in summary I will get .76 SBD and .122 SP when my payout comes. And then just use the calculations in the article to find the value.
Hint: US$6.40 of SBD and US$0.76 of SP for a total payout (at these exchange rates) of US$7.16 when it shows that it will only payout $2.08.
Does that make sense?
I invite some of my more experienced steemers out there like @swissclive who may have more to add to help us newer steemers out.) As you can see by this post and by all of the interests and comments, all of us are in the same boat trying to figure this out. So if you are a larger steemer and can give us better direction, we welcome you to help us.
Thanks again for your comment stochasticmind and I'm sure we will have many more awesome conversations in the future. Cheers my friend.
Thank you, @davemccoy! For the past days, I’m trying to understand each of these and then saw your post that helped me a lot and gained more info.
Awesome @katiepals... I am so glad it helped you. I know you are going to be good, I have been to your pages several times and like how you're doing. If I can help you with anything, please let me know. We're teammates and it does good for each of us when we all do good together. Cheers and stay in touch.
As always, another great post @davemccoy! I enjoyed reading it and very helpful for newbies.
Thank you very much my friend... I'm happy to help and I'm glad you let me know you're paying attention. I'm sorry it took so late to reply, the system has been down a lot all day for the ones with low bandwidth. But that's ok, I'm catching up to you now ;) ... Stay in touch and lets keep growing together.
Ahh, is that how bandwidth works? You should make a post about bandwidth (hint, hint) j/k. Maybe you have and I haven’t gotten to it yet.. slowly reading through your articles. 🙂
That's a good idea @butterb, but @looksfarwoman (another awesome 2017 classmate of ours) beat me to it. lol
I'm starting to think my 2017 classmates are really really smart :)
Will read @looksfarwoman ‘s posts too. We may all be newbies of 2017 but I too believe we are smart and can succeed by learning and supporting one another. Take care @davemccoy!
exactly how its done @butterb... we connect and share and help to build each other (and those others that we each bring along)
You really don't disappoint me man. Appreciate the quick tip. By the way, I know this is kinda out of topic. I just uploaded one of my films and its title is I Got You. Maybe you want to watch it some since you shared that you also liked content videos. More power to you man :)
@qyugmo I would love to see it and I'm honored you ask... Just reply back to me on this comment so that somebody that reads this page can maybe see it too. I'm inviting you to send the link to it, so its not spamming so no worries. Send it to me and when I catch up (hopefully tonight) I will watch it and give you my thoughts. Always glad to see you and I think you got my message about @bumper, if you didn't let me know and I will try to tell you about it again. I'm just trying to get people familiar with the process and concept so that later I can explain how it can really help you if you understand the economics.
So send me the movie link... And I'll get right on it! (and keep up the good work my man!)
Thanks @davemccoy heres the link, https://steemit.com/dtube/@qyugmo/3i5l87oj and please share some about @bumper dont hesitate some things with me. Just beep me back on discord or on anywhere :)
Continue growing man!
same to you... Did you use @bumper yet? its really easy and a good deal. Let me know if you need help, but you should be using them on every article that is 4 days older or less. You will get what you send them back in the upvote and you will get a small amount of extra sbd and SP every time you do it... (as long as they keep giving 3x promise rates)... I've done 93 of them now, its a good use of your time because its easy to do, it only takes a few seconds. Ok I'm going to watch you video right now
Cheers man!
and I just realized you might not have got my instructions on how to use @bumper... If you didn't let me know and I will find it and send it to you... Its plaster in all my friends posts, so I can find it pretty easy.
@originalworks
The @OriginalWorks bot has determined this post by @davemccoy to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
Don't ever leave Steemit! I don't think I'll be able to function without your help 😉. As with your other posts, I am sure I'll be revisiting this so I can go through it step by step. Thanks again for, yet another invaluable article and keep em coming.
hahaha... you're stuck with me forever now, that's what happens when I meet so many fun people like you in such a short time.
I know right?! Screw Facebook, I'm having WAY too much fun on here. 😂
@davemccoy Thank you for the easy to understand explanation and step by step process. I am going to try bumper tomorrow and power up a little bit. You have helped me- Thank you.
Cool @sunsquall, I'm very confident that you will like @bumper... Make sure and let me know how it went... I will be following up with a piece on the economics of it later, for now I just want everyone to understand how to do it (and see the upvotes hit your post). Always awesome talking to you sunsquall :)
OK- I submitted the bumper money- We'll see how it goes. I tried to trade in some sbd for some steem so I could power up steem power but I got this message from blocktrades. "Steem delegation purchases disabled until current pre-orders are filled." So I'll have to try that some other time.
i use the market exchange in the upper right on the menu bar.. But i'm not converting it over yet because the ratio has jumped too high... a week about i was getting 2.5 SP for each sbd... now its half as many... so i'm just using @bumper with every sbd until the ratio comes back down (ideally 3 SP per sbd)... You can also see the return on each bumper vote through your www.steemworld.org/@sunsquall page... when the activity happens bumper will send you a notice and you can see how much you earn. If they give you 3x in upvote for the amount you paid in sbd, it is a winner for sure (means you will get back your sbd you paid them, plus keep a little more and all the s p you are paid. The only issue with doing this is if you like the exchange ration of STEEM to sbd. I don't, so I'm just rolling my sbd until I get a price I like.
I know this is wordy, so I hope it helps... if you have any questions, let me know.
I see your submission.....check here to see the bump in your upvote tomorrow when @bumper submits your vote.... but you did that right.
https://www.steemworld.org/@sunsquall
^^^ Wow what a neat site! Thank you! Will watch for the bumper. :)
yes its very cool... it also will tell you how much money you have coming to you in the system... lots of good stuff there ;)
This post has received a 0.61 % upvote from
thanks to: @davemccoy.
For more information, click here!!!!
Send minimum 0.010 SBD to bid for votes.
Before sending a transfer to @minnowhelper, verify that your publication meets these conditions (http://www.minnowhelper.com/conditions.php). After the transfer is made, no claims will be received.
The Minnowhelper team is still looking for investors (Minimum 10 SP), if you are interested in this, read the conditions of how to invest click here!!!
ROI Calculator for Investors click here!!!
Simple, easy to understand explanation thank you very much...
Do you recommend transferring to savings after "payout" or what...?
You got a 22.73% upvote from @steembloggers courtesy of @davemccoy!
Thanks for your quick tip!
You're certainly welcome and there are more in the past and still more coming... You are welcome to stop by and check it out (and you don't have to upvote me, I really just want people to learn how it works).
I see you're new too, so welcome here @itsonigirl :) ... I will go check out your blog and I am now following you too ;) So have fun and stay in touch, its a great place to be!
Good explanation. I just started steemit last month, and still learning. I just bought $50 worth of steem power because I am here for the long run.
Awesome Mike... That's the way I'm looking at it too. I plan on being here over the long run too as this place has lots of potential to help many!
I've read this a couple of times now and improved my understanding a little more each time. I've received 0.001 of Steem a couple of times since joining and immediately used it to power up. I transferred a small amount of my Steem Power into savings, but as I'm not interested in immediate financial return, I've left the rest where it is until I have a better understanding. A quick, probably obvious question, if I may, is Steem Power an accumulation of Steem? For example, the 0.001 of Steem I 'powered up', did that get added to my SP total, or am I missing something? 🤤
yes on your last question.
since you said your objective is to keep the money here and grow it. I'm going to give you my strategy (because I am also doing the same).
When I get STEEM I always power it up. (it is still worth the exact same in SP as it is in STEEM) ... The reason to "power it up" is to let it add to your voting power (the higher your SP, the more your votes will count)
So getting more SP is the goal to grow the most.
Second point, you want your Steem dollars or SBD (held in either regular or savings) to help you earn more of whichever currency is the cheapest and to grow your balances. You want to "make them work" for you in essence. You don't want them in savings and you don't want to leave them idle. HINT: this is why I have been moving you all along (you are just at the head of the class) ;)
So since you want your SBD to be used for the purpose of getting 1) more SBD (think interest or investment) or 2) more SP; then you will need to understand what are the ways to grow those 2 balances.
I have identified 2 primary and successful ways to do that. I am not going to tell you tonight because I want the point above to sink in. It is hard to grasp in the beginning, but once you get it you will become a machine making money. So let that sink in and let me know tomorrow if you're ready for stage 2 of this conversation. (and if not, that's ok ask me again more questions because I really want you to understand this concept because it will really light you up here)
So to sum up...
you are right to power up the steem you get.
you will want to move your savings back to SBD (I think you moved SBD to savings not SP)
and yes SP is just STEEM that has been "locked up" in the system for 13 weeks.
Get this down and you will be a very happy blonde :)
Roger that. Received and understood. I'm ready for part 2. Very intrigued. 😁
Ok great... Part 2
Did you 1) do the @bumper upvote? and if you did notice what the upvote "bump" was exactly?
and 2) did you read my last post from today?https://steemit.com/steemit/@davemccoy/quick-tip-what-s-an-upvote-worth-how-to-calculate-what-an-upvote-means-in-sp-and-sbd-payouts
Let me know and we will move to part 3.
Helpful hint, if you didn't see what the upvote was exactly because you have many other upvotes on the post, you can search for it here in your feed https://www.steemworld.org/@looksfarwoman until the account operations feed.
Ok. Yes and Yes. Hit me!!! 😁
well what was the amount you paid and what was the value of their upvote? And then I will hit you... (not literally) lol
I've done it 3 times at: 0.10, 0.30 and 0.50. However, I'm struggling to find the value of the upvote. I've been to the account operations feed, but can't find anything but the wallet transactions. Am I looking in the wrong place?
I also went onto the post and looked at the list of votes. It doesn't show up on the list, unless it comes under a different name? I made sure to check the posts where 24hours had past since transferring the Steem.
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly – Featured Posts are voted every 2.4hrs
Join the Curation Team Here