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RE: 🖖 Hi Everybody! I'm Crypto Connie of Blue Rock Talk and this is my Intro Video to D-TUBE!
In deed, there's a D.Live, a D.Tube and the list is building up for the Steemit virtual ecosystem flourishing all out. Exciting times among crypto-realms right now...
Namaste :)
I will look in to that next @eric-boucher!
Can you help me out...? I started doing some testing with the upvoting.. I have been doing some 50/50 upvoting... Where does it go? Also, when i go full power and then want to cash in, does that take a long time to do? I would guess a 3rd questions might be, when the price of Steem gets to a point of wanting to cash in for some reason, am i not able to do that right away unless I have gone 50/50? I am confused with the $$$ part. If you can help, thanks...
~ @bluerocktalk🖖
@bluerocktalk, these are excellent questions, not the most obvious ones to find an answer to. But I'll try to make it easily understandable, just let me know what you think.
First, the 50/50 refers to the return on your rewards when the payout comes back your way 50% comes back in SBD while the other 50% comes back in the form of Stem Power. This way, 50% of your content creation -whether it is a comment or an entire article- or upvoting goes straight into the Steemit network pool and, therefore, empowers the entire platform with more and more sustainability in times of ups and downs in value, as well as when people withdraw Steem from the platform. As you might have read, this is a process created to keep the value of the Steem more steady on the long run as it takes a full 13 weeks to withdraw ALL of your Steem Power and turn it into Steem. I just hit two (if not three) birds with one stone, didn't I!?!
In relation to the Steem and the Steem Backed Dollar (SBD), you can withdraw right away to transfer the value of it into other cryptocurrencies or simply cash out as you say. What makes our platform sustainable is the pool of Steem Power. The Steem and the SBD allows us easy and almost instantaneous trading capacity. The Steem and the SBD both greatly fluctuate these days, though the SBD should most of the time be pegged at a value very close to the US dollar, it is now worth USD $11.42 while the Steem is at USD $2.36!?!
Just as a reminder, maybe you have read about the upvoting and the daily 20 upvotes that are given to you to vote with at a 100% of your Steem Power. Make sure you try to keep your voting power as close to 100% as possible, unless it is highly worthwhile for you to fo otherwise, for example if you leave for a day or two without access to the internet thus not being able to use any of your votes...
In hope some of it makes some sense to you, have a wonderful day, keep your smile and taking good care, Steem on and, above all, thrive on! Namaste :)
@eric-boucher, ok... now i am more confused. lol...
🤔 hmmm, let me ask you this, and thank you for your great patience!
Ok, I want to pay off a credit card... the quicker the better. What is my best strategy in terms of 50/50 or full 100% and also what to do when these prices are so high. I feel like i should be doing something to grow it, but not sure what that is. Please feel free to look at my wallet and see where to start there. It will help me greatly. I am confused by the STEEM and SBD too. 😳
Thank you again if you have time, I am around (so is my interest on this darn credit card-arg) 😜
~ @bluerocktalk🖖
Looking at your wallet, I'd say you don't have tons of revenue to acquire for the moment, even if you want to pay for your credit card... If you want to allow for Steem and SBD to come into your wallet as quickly as possible in order to use it to pay off your credit card. I'd suggest posting a lot of quality and go with the 50/50 option as, at least this way, you get half of the reward in usable/tradable Steem Back Dollar! Especially now that the SBD is so high in value, you'll be able to make a lot of "cash" quickly. Meanwhile, the other 50% goes into the Steem Power to uplift the Steemit platform, sort of like a back up for the whole ecosystem to be supported safely thus not having to worry about dropping like a bomb. The people invested can't suddenly withdraw and leave with a large chunk or all the assets of Steemit.com! Notice how the so-called 100% refers to the Steem Power? That means that if you click this one, you end up investing everything into the platform and don't leave yourself any space to maneuver with liquidity Steem or SBD. Using the 50/50 is the best option in your case and, as an investor myself, find it very useful to have some extra cash to reinvest into what created the possibility for Steemit.com to see the light of day: Thus, I reinvest into cryptocurrencies that are its relatives and, more often than otherwise, I choose to invest it into BitShares.
How's that? I hope it shed some more light on the nebulous vision that you had earlier... Namaste :)
Wow, that was awesome @eric-boucher, thank you!! IF you are ok, I have a few more questions.... ready?
~ @bluerocktalk🖖
Shoot! :)
Lol, i couldn't find your reply. 😁
Ok, i hope this isn't too tedious. I need to learn this or I will never do it, or might do it incorrectly. If you can help-thanks:
Once I can learn this,I will be happy and on my way to more financial success (mainly debt-free) but I can do a video on it for others so they can do the same.
For now, I can't help them without being able to do it myself.
When I try, I get very confused. If you can't help I understand.
Thanks @eric-boucher!!
~ @bluerocktalk🖖
Now your question is getting to the crux of the matter, when it comes to cryptocurrencies! HOW DOES ONE GET CASH/FIAT FOR THEIR CRYPTOCURRENCIES!?! This is still a nebulous subject for me... I don't really know as of yet and am still in the process of finding out myself.
To answer the second question: If you want to turn your Steem Power into Steem, you need to go on the right hand side of your Steem Power, press the little arrow beside where it tells you how much STEEM you are worth in STEEM POWER. As soon as you press this arrow, a little window comes on where you have three options: "POWER DOWN", "BUY" and "CANCEL POWER DOWN".
As you press POWER DOWN, nothing seems to happen. It is because the process of powering down from the total amount of STEEM you have in your STEEM POWER takes a total of 13 weeks to be "extracted" or converted, if you will, back into liquid Steem readily available for usage. Of course the BUY button is for buying more STEEM POWER and the last one is to stop the powering down process from turning more STEEM POWER into STEEM. For you, as you might want some liquid, I'd POWER DOWN as much as you need liquidity. From there, to turn your STEEM into CASH, I don't know and look forward to reading or seeing the vlog you will present us about this puzzling matter! ;)
Namaste :)