Steem Power explained, VESTS, voting power, vote weight, and inflation rate staking rewards
Everything you need to know about STEEM Power
User friendly steem block explorer
https://steemdb.com
https://steemdb.com/@craig-grant
Raw data steem block explorer
https://steemd.com
https://steemd.com/distribution
https://steemd.com/@craig-grant
Steem voting bot
https://steemvoter.com
Dan Larimer talks about STEEM blockchain and Steemit
EXACTLY WHAT WE NEEDED
yezir :). you inspired it
Yeah same I need
honored
Steem went up so much because of the new low inflation rate, so you correctly took advantage of a system change (knowingly or not). Had the inflation rate remained so high, Steem would be worth less today. The inflation would have just caused a person to make a little or break even, but no one on exchanges would want to hold steem with 160% inflation. Accumulation on the exchanges began after the the inflation rate dropped, so people can speculate on it, without having to keep it inside steem power.
Great video, though, it's changed so much it needs to be gone over again from scratch like you have.
I am currently watching this on you tube as you posted it here. Very cool explanation. A lot of people will benefit from your years of knowledge. Thank You.
Thank you very much for posting this. I'm new to Steem and crypto and I've been trying to intake as much information as I can to increase my financial IQ pertaining to crypto and also learn the inner workings of how Steemit actually functions. This was great information. Thanks again & followed!
here is my simple explanation....
Steemit WItness and Nodes Mine the steem....They keep a small portion as incentive to be nodes/witnesses.....but most newly mined steem goes to the peopel with most upvotes from peopel with highest steempower! If you have $0 steempower your upvotes will be worth $0 but if you have lets say $1 million dollars in Steempower your upvotes will become as much as $5 $10 at a time! This whole atmosphere is
I joined way back when in July last year (actually after seeing one of your blogs and getting hooked by your infectious enthusiasm for the platform). Since then, we've all been through a crazy thrill ride of ups and downs along the way all in this relatively brief period of Steemit's existence.
So, in terms of Steempower and this post, you covered that history as well as the the present day situation in meticulous detail and even gave your thoughts as to the reasons why they occured at all. Very insightful and useful info especially for people just joining now. Also, given the influx of new users at this time, your timing couldn't be better.
Excellent job yet again. Very impressed, Craig.
Keep doing what you do best and Steem On, my bro!!! :)
(p.s. nice analogy comparing trading to selling crack on a street corner, laughed a lot at that!)
Its all starting to make sense now. Thank you so much for the detailed explanation. It helps a lot when more experienced users go out of they way to guide the new members.
Im a noobie myself, i have just written my intro yesterday. Maybe you can check it out.
Great man Thanks for explaining I really like your feed because its talking I feel like you are speaking to me, and not just an article where I have to read, but you explain it step by step.
Thanks for taking the time to make this video for all of us newbies lol definitely cleared up a lot of questions I had
Hi @craig-grant, I've always wondered how whales got to be whales in Steemit. Surely they didn't have all that fiat to buy all that steam power, I kept pondering, I looked and most of the big boys with huge steam power and they all started last year. I guess the inflation rate helped a little bit. There was me thinking they blogged, commented and voted diligently but now I know better. It like playing a little video game - we all got to POWER UP! like Super Mario.
They are mostly early miners. In the first month Steem was under the radar and you can only get Steem by mining.
They had the foresight to jump on board early to take the risk when the odds were 50/50 for success and failure and today their efforts are paying off. I noticed many are techie also, which also helps!!