Anyone want to assist a Lady in understanding blockchain, bitcoins, steemit and more?
Wrapping My Brain Around It
I have been reading everything I can about blockchains, mining, cryptocurrencies, exchanges, trading platforms, steemit and voting bots. I am wrapping my brain around these things, trying to put the big picture together and understand how it all works.
So far this is what I understand.
A blockchain is a chain of blocks that are connected to each other. Each block is a recording of time-stamped, verified transactions. Like a bookkeeper's ledger. Unlike a bookkeeper's ledger, that is private, anyone can access the blockchain and anyone can create more blocks to add to the chain.
A blockchain consists of two kinds of records: transactions and blocks.
Transactions are created any time someone sends cryptocurrency to another user.
Blocks record transactions in the sequences they occurred.
Blockchain Technology
Blockchain Technology is a programming language used for collecting wealth, creating wealth and maintaining wealth. According to Wikipedia, several other industries are implementing blockchain technology, like the music industry started using it to track copyrights and royalty payments.
Mining
In the crypto world, mining rewards the miner with cryptocurrency. The miner uses special computer power to create blocks of verified transactions and get the rewards. Miners are racing to see who can complete the next block first.
Cryptocurrency 
Digital money that can be used to buy items, pay bills, settle debts and invest; in platforms like steemit to get voting power. There are many different types of cryptocurrencies in existence right now. Bitcoin being the most popular and worth the most of all the currencies available. These currencies are bought and sold on exchange markets, or trading platforms, that have been set up for trading cryptocurrencies.
Voting Bots 
Voting bots are software programs used to do the voting for the steemit user, so they do not have to do it themselves. Users who benefit from the bot are people who have a lot followers that want them to 'upvote' their posts.
Steemit 
The steemit platform allows users to blog and get rewarded for the content through upvotes. On steemit, users can also mine cryptocurrency, buy and sell STEEM on the Bitterex exchange and cash out their rewards. While it is not official, user accounts can be classified into three categories based on how much the user's account is worth; Whales, Dolphins and Minnows. Users can increase the worth of their account through getting rewards and converting it into and holding STEEM POWER, STEEM and STEEM DOLLARS.
STEEM POWER may be valuable in the long term holding, but is non-transferable, requiring 2 years and 104 payments to convert back to Steem. STEEM POWER influences the weight of the user's vote, meaning a single vote rewards more. More STEEM POWER equals more voting weight.
STEEM are tokens that may be transferred anywhere at anytime. Steem can be converted to STEEM POWER in a process called powering up.
STEEM DOLLARS are used to get STEEM and STEEM POWER. Upvotes that have weight to them reward the post in STEEM DOLLARS. These dollars can also be transferred out and converted to Bitcoin.
And That is My Understanding 
Well, how did I do? Is there anything I got wrong? Please comment and tell me if I have misunderstood anything, or if you feel you have something to add. I am open to all comments to keep my understanding clear.
This crypto world is new to me, I am still learning. I figured that the steemit community would be the best place to get my facts right.
I look forward to your comments and clarifications on these subjects.
Love you guys!! Thanks a bunch!
Later Gater!
P.S. These are all my own original illustrations. I included them so you can see my coolness. lol
I wrote this post about the blockchain 3 weeks ago. I hope it can help
Blockchain: an easy-to-read guide for non tech-savvy reader
Your Illustrations Rock! :D
Love the Vote Bot! :)
Thank you! I had fun doing them. Maybe I will do my own ills for all my posts. lol
Wow! I don't know how long you have been on here, but it took me ages to understand all that. You have laid it out in a nice way; and I love the illustrations! :-)
The only thing I would correct is that, Steem Power is actually transferable between Steemit accounts; I saw a post on it the other day.
Looking forward to more of your pragmatic type posts, made light and fun with your illustrations :-)
Cg
Thanks @crytogee for reading through it all. I have not been on steemit very long, maybe three weeks. I read for like a week before I put it in this post. I will take another look at my understanding of steem and steem power. I may have misunderstood that part.
Do you have a link to that post? I would love to read it.
However, I did read that in order to transfer steem power from a steemit account, the account must be powered down first. Then it takes 2 years to turn it all back into steem, then it can be traded, or transfered. When buying steem power, a message is displayed that warns the buyer that steem power is non-transferable and non-tradeable. That is the page that I took my information from. I would post a link, but there is no link for it. It is a pop-up window that shows when you click on the 'buy steem power' button on the main steemit page.
If the rules have changed, that page does not reflect it and I would love to know or read about someone who has successfully transfered steem power.
Thank you again for taking the time to reply. I appreciate you doing that. Much love friend!
#thedoglady