Help needed to understand the steem-system

in #steemit8 years ago (edited)

Hi,

my name is David and right now I'm trying to wrap my head around this whole steem-system. I've already read the whitepaper, but - obviously - this thing is a bit too complicated to understand everything from first sight.

What I've understood so far:

  • There are three different ways to hold the steem-currency
  • the most important one is steem power, which gives the holder more "power" to vote for content on steemit (and probably other platforms to come)
  • the amount of steem is going to double every year, but because 90% of the new tokens are distributed to steem-power-holders, it will be closer to a 2:1-stock-split than to actual inflation
  • the other 10% of new steem are distributed to miners and content-creators

What I've understood partially:

  • the steem that is distributed to the content-creators is a fixed amount relative to the current overall-supply.
  • there is a somewhat complicated system to prevent users of upvoting too much content in a short period of time.

What I haven't understood yet:

  • What is part of the actual blockchain of this system? Is it the whole content or just a pointer (like a hash or something)?
  • How does the reputation system work?

I'm thankful for every good link to explanations, further documents or interesting videos and audios.
Thank you!

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Great post. Same question here. Though I think the actual content goes in the blockchain. An expert opinion will be appreciated.

Like you, I'm a newbie--but I've discovered the most information from digging around in the topics column. There are all kinds of tutorials by people who are learning as they go--just remember to keep posting and blogging.

Oh-and apparently it is #1 on your to-do list: Make an Introduction with a picture of yourself holding up a piece of paper showing the date!