How to start explaining Steemit?
This is really a tricky question. Steemit and its ecosystem are extremely complex considering all elements. As a newbie, it looks already complex without knowing what it is all about and how deep it goes. Experienced users know a lot more, but most of them don’t look how Steemit is constructed. They just use it.
This series will bring new information to starters and (hopefully) also to experienced users.
If I miss something, please leave a comment.
I will define the basic elements of Steemit and I will go deeper and deeper and add more and more facts. Let’s do it slowly.
Let’s start with steem power!
Why?
Everyone needs power or influence. This is part of our DNA :-) and programmed as part of the Steemit community, too.
You have an influence on Steemit while using your steem power. You can find your steem power in your profile. As a new user (we call them red fish) you will start with 0.5 SP (SP is short for steem power). Right, not a lot of power (to be honest :-) )
Thank you, Steemit, for helping us red fishes. Steemit delegates steem power to us for a certain time. This steem power is not owned by you but dedicated to you to use it. This number of the dedicated steem power can be found in brackets below your really owned steem power.
Experienced users with a lot of power can also delegate their steem power to other users. Steemit has a lot of projects, competitions or free giveaways where you get SP for a certain time.
What is the Steem power purpose and how do I get more?
With your gained SP you can vote on other users posts or comments. Based on your SPs ratio you will receive a percentage of the posts’ or comments’ payout. This can be a significant boost for your steem amount if you do it on the right posts or comments.
You can use your steem and convert them into SP. This is done by selecting power up in your wallet. The transfer is instantly done.
Can I Cash Out My Steem Power?
Yes, this can be done over a period of 2 years. Not instantly. If you select power down in your wallet. You get a weekly payout of your SP as steem.
More details in this post:
@cryptos/how-to-power-down-your-steem-power-the-smart-way
If you change your mind a cancellation of the power down is possible.
I will limit this post on these terms and ways to act with steem power. The fundamental things are explained. I do not want to overload new starters.
A final tip: Interact with the community. Comment in an honest way and vote. This is the best way to increase your SP.
A visual summary of our learnings today:
Questions?
You like the post? Feel free to comment and upvote and resteem.
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