STEEMIT FAQ: - A VERY SIMPLE explanation of how your Steemit EARNINGS work
50% of any money you make as an AUTHOR (of posts/ comments) is paid in STEEM Dollars, you can withdraw that immediately.
50% of the money you make as an AUTHOR (of posts/ comments) is paid in STEEM Power, you can withdraw that (into STEEM) in weekly instalments over 2 years.
100% of the money you make as a CURATOR (of posts/ comments) is paid in STEEM Power.
If you don't power up your STEEM into STEEM Power it is liquid (you can withdraw immediately). However STEEM Power earns interest that counteracts STEEM's high inflation. So it is best not to hold STEEM for too longer, just use it to transfer and trade.
(NB - there more depth to this, and I encourage you to read more widely. However these basics should help get you started)
I originally posted this as comment however creating a Steemit-FAQ post so more people have visibility. Steemit probably need a FAQs section as the same questions keep popping up
As a noob here, this is a great and bare bones explanation. I love the simplicity! Two thumbs up.
Awesome breakdown of the earnings within the system...I needed this! lol Thanks-
Every bit of new information about how works Steemit make it more successful, thanks.
I love the simplicity!
Are you readyyy?!
:neckbeard:
Very good
Hmm. I recently bought some steem. I was unsure about transfering it to steem power because I thought I wouldn't be able to change it back for 2 years lol. Oh well thanks, I will definitely put it in steam power seeing as that has interest.
Thank you for this post. Very helpful. I'm starting to get a feel of the eco system and its components. I just joined a few days ago and haven't had a chance to review the white paper yet. I really want to understand the mechanics of what makes Steemit tick. What do you think is Steemit's biggest threat?
This, https://steemit.com/steemit/@nanzo-scoop/no-upvotes-no-problem-you-will-be-king-makers
Or some unforeseen 'black swan' event.
Thanks. Looks like a good read. Tomorrow's literature:)
Helpful!
Thanks Steemit-faq. So... the more steem power we have the more our posts are seen? Is that right? If so, how does that work?