Some questions about steem by dedmatvey

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steemhelp · @dedmatvey · May 20 '16

$37.29

Some questions about steem

Hey guys! I`m here about 2 weeks. But so far, I have not understood how it works

Please,  answer a few questions
I think they will be helpful to many

1) What is the difference between steem power and steem?
2) STEEM DOLLARS are awarded only for votes for your posts?
3) STEEM DOLLAR is equal to the dollar? If so, where it is being exchanged?
4)  What is the correlation between the STEEM power and the accrual to the author for vote?
5)  Depends the income of STEEM power from the posts, topics and other activities? What is the relationship, if so?
6) What is "Power down" in wallet? Nothing happens, when I click it

Thank you for your answers :)

👍 dantheman, erath, chryspano, caesar, nikolai, bobsunday, bob-the-poster, jamtaylor, dedmatvey, jademont, gavvet, gugnik, alinasunshine

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@gavvet · May 20 '16

$234.38

1. Steem is volatile crypto-currency that can be freely traded
2. Steem Power is steem that's locked up to give you voting power.
3. STEEM DOLLARS are awarded for post, votes and comments.
4. STEEM power, the more you have the more accrues to those you vote for providing you don't vote too much in a 24 hour period.
5. There are complex algorithms that work this out, look under trending topics to find explanations of how these thing depend on each other.
6. Power down converts Steem Power to Steem when you need to cash in or trade Steem.... but does so weekly over 2 years.

I hope this helps, other correct me if I am wrong.

👍 berniesanders, dantheman, nextgencrypto, erath, chryspano, juanlibertad, code, bobsunday, bob-the-poster, mostar, moh-rokib, dedmatvey, gavvet, james-show

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berniesanders	29,311,069,862,307	100%
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moh-rokib	557,388,354	100%
chryspano	296,130,591,445	100%
mostar	558,888,400	100%
juanlibertad	10,360,329,055	100%
dedmatvey	514,993,809	100%
gavvet	470,475,741	100%
james-show	465,178,387	100%

@dedmatvey · May 20 '16

Thanks
But...
1)Can you explain what you meen "but does so weekly over 2 years"? Is it mean than i`ll need click on "Power down" every week over 2 years to convert Steem Power in Steem?? 0_o

2) And... You got 10 votes for this post. The counter shows $ 51.70. When you get these funds?

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@gavvet · May 21 '16 (edited)

1. Once you power down the payments are automatic, one per week until all is payed out, Its to stabilize the currency and not have everybody dump it all at once and exacerbate volatility.
2. The author, if this is a top level post, gets about half of $ 51.70 for payouts. This will happen on the 4th of July for all posts, comments, votes etc. and from then on daily.

👍 dedmatvey

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@mostar · May 20 '16

$0.93

You will get them at 4th of july

👍 noaommerrr, dedmatvey

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1 reply

@dedmatvey · May 20 '16

And sometimes I see "transfer  %ammount% STEEM to vesting"
What is that?

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@pheonike · May 21 '16

Vesting is power. The name was changed awhile ago.

👍 dedmatvey

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