Where did the Steemit's tokens come from?
Where did the Steemit's tokens come from?
Steem token is divided into 3 kinds: 1.Steem 2.Steem Power 3. Steem Dollar
- Steem
Steem is the capital of the steem platform itself, which can be used for Steem power, or steem dollars, or to other accounts. Steem itself is a virtual currency, just like bitcoin. By analogy Steem is steemit the website of the stock exchanges, can be used with other digital currencies or currency trading. Prices fluctuate with the market. - Steem Power
Steem Power (SP) is a measure of a person's influence on the steem (power has energy and power, power means). The more SP a person has, the more he can affect the value of the article and the value of the comment. Steem Power is more like real estate or higher stock of this company. It can't be directly transferred. If you want to cash it through selling real estate, it will take about 13 weeks to change it, and you can get a little Steem each week. That is to say, you can't exchange cash directly with SP, but you can use it to exchange steem and exchange cash with Steem. It takes a long time to do it for you to hold SP for a long time so that you can better maintain the community. Because Steem is constantly emerging, so it will have the effect of inflation. SP can prevent inflation through high interest income (imagine rent or interest dividends), and ensure that SP holders have long-term benefits, which is one of the benefits. - Steem dollars
Steem Dollars (usually referred to as SBD) is a digital currency equal to the dollar. How do you do it? When you want to cash, Steem Dollar will be converted into equivalent to the current market value of $1 Steem, for example, you have 1Steem Dollars Steem, the current market value of $1.5 A, then you will get 0.666667 Steem, can then be converted into inside in exchange for $1. Steem can also be used to buy things directly, such as PeerHub.com on top of SBD.
The Steem network will continue to produce digital money to reward content producers and disseminators. 75% the newly generated Steem will be sent to the gold pool to be sent to the content producers, and the commentators and the disseminators. 15% will interest those who hold SP as interest (to support these influential people to maintain the community), and the last 10% will be paid to verify the transfer of people.
How to cash it?
As mentioned above, Steem itself is a virtual currency, just like bitcoin. Can be used with the exchange of other digital currency or currency trading. Prices fluctuate with the market.
It takes about 13 weeks for Steem Power to be converted to Steem, and you will be a little bit per week, so you have to make a good time preparation before the exchange. It can be sold on the market after the exchange of Steem. But before the exchange, it is necessary to make clear that the purchase of SP will require a higher Steem than the present price. So don't sell it if you need to buy SP later.
Notice that Steem Power can't be directly converted into Steem Dollar, and can only be converted to Steem, but there is no need to change to Steem Dollar, because Steem itself can be cashed.
Please look at the original text here: https://steemit.com/faq.html#What_is_the_difference_between_STEEM__STEEM_Power__and_Steem_Dollars
I found a good explanation of YouTube video. You can see: https://steemit.com/steemit/@shredlord/steem-steem-dollars-and-steam-power-explained.
Matters needing attention
The block chain technology is centralization, so they will record all the things that happened. That is to say, the content you publish is actually not completely deleted. You can not let some people see it, but in the block chain, you will still save all the news you have posted. So think twice before making a comment.
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