Everyone's making money, no ones getting paid! Read this if you think your gonna get rich on SteemIt

Hey Steemit Noobs

(Sorry about the cliche pic, but it's makes a points later on)

New users to SteemIt, just want to kinda clear something up.

All these posts you see about users making $1000's of dollars just by posting a small write up aren't 100% accurate.

Yes it's true that within 48 hours of posting, many members are seeing that their posts are worth $1000, $2000 even $10,000 dollars. But it's not like you can take that money to the bank...yet.

From what I've seen, here's how the payout actually happen, and what you can do with them.

1. Approximately 25% of the total post value is paid to the posters account in the form of SteemPower.

Now it's important to understand that while SteemPower is valuable, it's not cash and it won't be for a long time...at least 2 years IF Steem is of any value by then. SteemPower is kind of like holding 'shares' in a company.

**What company in this instance? Steem...the alt coin. **

But #SteemPower or your shares also do what a traditional share does for it's shareholder. It gives you a percentage of power to vote.

So you'll notice lots of users that have very few #upvotes but $1000 post. Why is that? Because the shareholder who upvoted that post was extremely powerful and had a lot of SteemPower. You'll also notice that other users have tons of comments but no post value. Mostly spammers or men ;) The reason for this is that lots of people with no shares or Steempower are upvoting, but it really doesn't amount to much!

2. Approximately 50% of the total post value is paid to the posters account in the form of #SteemDollars.

These are actually as close to real cash as you can get.

Each Steem Dollar is worth about $1USD worth of #Steem the actual coin that can be exchanged for real life paper money (although you probably do 90% of your real life banking electronically anyways which is why alt coins and blockchain are the future).

You'll need a solid Exchange to send your Steem to, and then withdrawl it as cash. Signing up to exchanges requires a lot of verification, so while it's easy, it's still kind of a pain in the butt. But you want your money right?

3. The remaining 25% of the total post value is paid to the upvoters and commenters of your posts.

You'll never see a dime of this money from your posts. But since the payout is quite high, why not start commenting on other people's posts yourself?

$10,000 Post Breakdown of Actual Money Earned

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1. 25% of $10,000 = $2500 SteamPOWER.

Nice Job! You'll be able to upvote the shit out of people and make them some money.

2. 50% of $10,000 = $5000 SteamDOLLARS.

Nice job again. Since Steam is worth around $4 at the time of posting this, and each SteamDOLLAR is worth about $1 in Steem that means you have $5000/4 = $1250 in actual value from your post that can be sold or traded off. That's a nice profit.

3. 25% of $10,000 = $2500 goes to the commenters.

Sooooo....

All in all if your post makes $10Grand, which not many do, you'll bank $625 if the value of Steem is high ($4 was high so far) and you'll probably have a bit of a hard time exchanging it if you are new to alt coin.

But if you are committed, you'll keep writing until you make a good post and get some value from it, and you'll figure out how to exchange that for real money.

SteemIt has a ton of value...but don't think you're going to get rich from it. At least yet.

Which type are you? The optimist, or the negative asshole who things everything is a pyramid and a scam?

HM

PS. Seems like the 'hot' girl accounts do quite well ;)