DIFFERENCE BETWEEN STEEM, STEEM DOLLER & STEEM POWER
After joining Steem network we came across various new things. The most difficult thing for new Users is to understand the difference between STEEM , STEEM DOLLAR and STEEM POWER . All these 3 things can be seen in the wallet section of your Profile.
In this post I will tell You about the difference between these 3.
LET'S START . . . . .
WHAT IS STEEMIT.COM ?
STEEMIT.COM is a social media site featuring it's 21th century cryptocurrency economic system which allows you to Interact with the Steem Blockchain.
There are three main assets classes on Steemit :
- Steem
- Steem Power
- Steem Dollar
Steem Economics System can be compared to a Geothermal power plant , where Steem is generated by Steem Power which empowers the Economic System, allows the Turbine to Generate Electricity which holds the Sentimental Financial Value.
WHAT IS STEEM ?
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STEEM is a sort of cryptocurrency that could be traded freely on the Internet.
You can purchase STEEM directly, or you can be awarded with STEEM once you publish a post or do any activity of STEEMIT.COM
STEEM can be converted to Steem Power or Steem Dollars.
All other tokens drive their Value from the value of STEEM.
You can transfer you STEEM to Steem Power by clicking on the value of STEEM on right side then Power UP.
![IMG_20180701_142243[1].jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmZ3NdnWkVFebRgik3kUsiPwg54t84QvtefyX4wZpfXpfM/IMG_20180701_142243[1].jpg)
WHAT IS STEEM POWER ?
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The heart and soul of Steemit.com. This is the fixed, long term asset. It can be considered as a long investment that puts your money to work, amplifying its value by giving Users the power to assert influence within the community.
STEEM POWER determines the power of your UPVOTE.
The more is STEEM POWER , the more is the Value of your Upvote and Vice Versa.
STEEM POWER can be converted to STEEM back clicking on the Right side on Steem Power Value then POWER DOWN.
But one must keep in mind that it will take 14 weeks to transfer your STEEM POWER into STEEM.
![IMG_20180701_142310[1].jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmcZ7dwkKqK3pPsszxGDxpRt3rrQiK4owVXpEab4x5raCN/IMG_20180701_142310[1].jpg)
WHAT IS STEEM DOLLARS ?
Steem Dollars were designed as an attempt to bring stability to the world of Cryptocurrency and to the Individuals who use STEEM Network.
Steem Dollars are transferable , You can transfer to an exchange and sell someone else or convert to STEEM.
The value of one STEEM Dollar is usually equal to one actual Dollar.
It takes & days for STEEM Dollar to be transfer to STEEM.
10% interests are gained when you are holding STEEM Dollars
![IMG_20180701_142335[1].jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmR6kdqJXgoReUR41F8kHyCtWsLcs8uaNRMUxSNLtJ4pzh/IMG_20180701_142335[1].jpg)
IF YOU LIKE MY POST , PLEASE GIVE UPVOTE . . .
IF YOU HAVE ANY QUESTION , COMMENT BELOW . . .
The 'Steem Dollar' SBD (Steem Backed Dollar) is only confusing people because it has no real use case besides pushing a coin in the market. It is not backed by the Dollar and also is not interchangeable 1:1 with the Dollar.
yes you are right... they created so that they can level with dollar.. but they can provide assurance of its stability.. what you will it drop or rise in future?
@aabidlone I follow you, upvote, comments, now u
done brp
@aabidlone From my side, you are my articles upvote, comments, follow, will, I'll do the same to you ok?? My dear friend
@bitsignal buddy you really gave good information about SBD.
yes bro
@aabidlone @bitsignal
Thank u my friends.. For sharing very helpful information... 👍👍👍
Well. Written bro. COuld learn a lot from this Article. I hope you write more like it in future.
thanks alot bro,,, with your help and guidance i will follow same path...thanks again bro
i think we have to hold steem now instead of SBD Because Steem have bright future what u think?
i also think same.. because SBD will not go more beyong, $1
What i found that whenever i upvote someone,my voting power is decreasing..Is there is any relationship between voting power and steem power?Is someone has high steep power and low voting power then will his vote is equivalent to a person with high voting power and low steem power? How we can refill our steem power without investing any steem & steem dollar?
let me make u clear.. that ur voting value is determined by steem power.... the voting power is just the influence of your vote... if ur vote has $1 value at 100% then it will be $0.5 at 50% and so on.... but this value of you vote like dollar is by steem power.... u have that whem some one upvote u... ur post earning increases
That's good article and it helps Steemit beginners.....
@aabidlone this is one of the most basic thing which many users dont know
Its definitily works, steem to steem power transfer...
Actually I was also having the doubts regarding the 3. Your post really helped me. Thank you so.
this info helped me alot please upvote and comment also from @moneyphoenix
Congratulations @aabidlone!
Your post was mentioned in the Steemit Hit Parade for newcomers in the following category:
I also upvoted your post to increase its reward
If you like my work to promote newcomers and give them more visibility on Steemit, consider to vote for my witness!
@arcange thanks.... i will do same thing in future too