Hello Newbies! It's ask me anything about steemit Wednesday (AMAWED) again today.
A reminder post was put up last night for today's edition. Some have already started ''cooking'' their questions in preparation for today. Hahaa...So, don't miss out!
If you missed the first edition of AMWED, do well to check it out here. It was truly a learning process not just for newbies alone, but for me, @maryfavour, as well. I guess same holds true for other esteemed Steemians who facilitated AMWED with me, @surpassinggoogle & @oluwoleolaide.
Four (4) Things You Need To Come With
For now, you only need to bring with you four (4) things
- A comfortable chair
- A bottle of coke, beer, cup of coffee/tea, water, or any drink of your choice
- Pop corn, according to @jaynene in the last edition. Lol! Any snack would do
- Most importantly, your questions, probably written down
It's your friend and host
All content is mine and original. The beautifully designed flyer was made for @redfishpillar project by @royalfinest. A brother and friend, @outhori5ed made the lovely divider and the photo shot is mine taken with my samsung galaxy s4 mobile phone.
Good job you are doing @maryfavour and @redfishpillar
My questions:
Is steem strengths/rates determined solely by changes in btc?
Why is SBD created as another 'coin'?
Between SBD and Steem, which would you advise a Nigerian to sell
What platform do you think is best to sell SBD/Steem (depending on ans to no 3) with low charges for Nigerian users?
These are questions i am still trying to get answers to. I hope they are not much ma. Thanks.
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@smyle. Exactly my questions! Okay, I'll hang on here to await replies. Thanks for asking my intended questions. @redfishpillar over to you. And thanks for creating this type of opportunity
@eurogee
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Welcome to AMAWED, @smyle! My response to your questions are
I do not even think that steem strenghts/rates are determined by changes in btc. My understanding is that the price of steem is determined by 'usability' which is the way people use the platform steemit and token, steem. I would also add that the price of steem in the market depends on whether or not the steem token is scarce. As in basic economics, scarcity brings about increase in value. So if steem is scarce in the market, the price will increase, but if there is too much of it in the market then you will see a decrease in price , just like money, which follows the rule of demand and supply.
Steem backed dollars (SBD) was created as another coin for steemit to bring about stability of steem in the market. Please read more from steemit's whitepaper and her recent bluepaper .
Well, between SBD and steem, I would advice a Nigerian to sell SBD. The Nigerian should ''power up'' his/her steem, in my opinion.
From my experience, I think, it's easier to sell steem on blocktrades.us. However, transaction fees are less on bittrex.
Thanks for the commendation and for participating in AMAWED. I really appreciate.
@maryfavour
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Thanks for your detailed response @maryfavour. I have a better understanding of steem and sbd now. 🙌
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You are welcome, @smyle. Glad that I was able to help. Enjoy.
@maryfavour for @redfishpillar
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Well done Madam! Please i would love to know how the minnows can support steemit as a community (aside creating normal contents) and in what ways can the whales benefit from the minnows..it is obvious that our votes can only add little or nothing at all to author's wallets..without the whales,the minnows would remain minnows. ( @Destinysaid and a host others have been really helpful since i became an official steemian) how can we give back? if a minnow puts out projects or ideas which tend to support the whales that may go a long way to exposing such minnow therefore aiding his/her way to succeeding in the steemit community.
Thank you for this great opportunity any further questions i come across i'd not hesitate to bring it on.
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@prettycynthia. @redfishpillar I hope you wouldn't mind my responding to this question. In my own view, yes without accounts with considerable SP upvoting a minnow, it would definitely difficult find it difficult to progress. To your question, I think minnows should continue to invite more people to be part of the program. As more people join the program, demands for steem wld increase. This will also increase the value of Steem, making you to have more money in your wallet. To me, Minnows should continue to play active roles in campaign to make Steem a household name all over the world. Thanks. Such a good question.
@eurogee
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Welcome to AMAWED, @eurogee! Bravo for responding brilliantly to @prettycynthia's question! I really appreciate you.
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My pleasure @maryfavour
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Great.. Thank you for your answer.. @eurogee on discord?
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The best we can do is preaching the gospel of steemit to individual and also following them up so they don't abandon it.. That way the demand for steem will be high just as the demand for bitcoin is.. The more the people the more the demand for the steem coin. My two scent advise.
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Absolutely, @sweetestglo-eu! I completely agree with you on follow up of up newbies after bringing them in. I have always said it that it is not enough to just tell people about steemit and on-board them. Mentoring them to grow is even more important. So, mentorship is key after steemit marketing. That is why I am dedicating this time to help newbies grow. Check my payout. Some newbies even earn more than I do. That is the truth, but it doesn't bother me. When newbies are happy about their growth and progress, then I am happy too. Let me stop here, before I continue preaching.
@maryfavour
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Nice one ma'am , may God keep blessing you!
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Welcome to AMAWED, @prettycynthia! Thank you for posing your question. @eurogee has responded very brilliantly. To reiterate what he stated, the best way a minnow can contribute to the growth of steemit is marketing steemit, using your creative ideas and projects too, if you possess the skills to manage one or more.
@maryfavour
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Thanks ma. I have been doing my part if that's the case. But i face this challenge each time i preach the steemit gospel.."they always ask where the money come from"..you know plenty Nigerians have fallen victim to some fraudulent ponzi or the other and that mentality of anything internet being a ponzi is a big problem. Immediately i talk to anyone about steemit the question i always find difficult to answer is "where the money comes from question.
What's the best possible way to explain this to a person with the dullest brain? Thanks
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You are most welcome, @prettycythia. I understand most of the issues with ponzi schemes and the reason why many Nigerians now ask, where does the money come from. I am going to begin by stating that none of the cryptocurrencies are really money. They are cryptographic tokens that people value and that value is what is exchanged for fiat currency(government approved currency) e.g Nigeria Naira (NGN). That said. I will go ahead to paste an excerpt from the recent steemit bluepaper, page 2 below
@maryfavour for @redfishpillar project
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wow!! your work here is really wonderful. thanks for giving me these answers...you are my future witness lol. You are beautiful too (in Mayorkun's voice)
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Future witness...I'm not a geek. Thanks for the complement, dear. I wish I knew who Mayorkun is. Lol!
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heheheheheh, ma'am i took coffee instead of Coke O!
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I like your sense of humour, bro. Na @jaynene teach me about bringing coke and popcorn ooo...Lol!
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Lol...I came late. Well done @maryfavour and everyone that has been contributing. I'm reading through the questions and answers and I'm learning.
But na wa o....una don finish the coke and popcorn already, no wahala, I go come early next week
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Welcome to AMAWED, @jaynene! Chaaaaiiii, you came late ooo...Thanks for the commendation, dear. I see say u don show, I come dey happy. As u come late now, the coke and popcorn don finish...Lol! Abeg, make u try come early next week.
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Good morning friends!
The question I would bring to you this week, and I do hope to get a few different answers depending on who is reading, I would like to know what some of you feel are underserved tags out there at the moment?
We all can read the list down the right of our screen of the most popular tags at the moment. But like @surpassinggoogle has done with the #phillipines tag, growing that community by leaps and bounds, where do you see large room for growth where a good content creator can make the biggest impact?
Thank you for your time, input, and for caring about our community and growing the right way!
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Good morning, @mikepm74 and welcom to AMAWED!
Let me begin to respond by stating that @surpassinggoogle has worked very hard on this platform for one year now, so he is well known, with good reputation, integrity and loads of steem power. It is easier for him to grow a community, for instance #phillipines , than if he did not have any of these 3 factors stated. There are other factors, for sure, but the ones I stated are those that are glaring to most people in steemit. Moreover, @surpassinggoogle has an amazing project, @steemgigs. That project has added value to the lives of many people in steemit, mine inclusive. For that reason, I am proud to vote @steemgigs as one of my 15 witnesses so far. Secondly, find your niche and make positive and biggest impact there. This could be what you love doing /hobbies, your frustration, profession, experiences in life and steemit, thoughts or ideas.
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There is no doubt in my mind as to Terry's qualities as you listed them. Although I am not in the Philippines, nor have I been there, I find value in a lot of what he posts outside of what it does for that country, so I continue to follow him, and have also used one of my witness votes for steemgigs!
Thank you for your input! Correct me if I am wrong, but to boil your comment down into a brief summary, do what you know, be kind and generous, work hard and have patience. Does that kind of sum it up?
Thanks again!!!
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Very good summary of the key points, @mikepm74.
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I have a question: How do you find out what your reputation is? Thank you
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Welcome to AMAWED, @jvalentine! I'm glad that @sweetestglo-eu has responded to your first question. Many thanks to her. The second question you posed was answered last week. It appears that the question is becoming a frequently asked question (FAQ). This is the answer to the question from the app craeted by @bulueorgy, steem.cool.
REPUTATION
Formula for Calculating Reputation
((log10(abs(reputation#))-9)9)+25
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Thank you so much for your response to my specific query. You must take an awfully long time to pose all the answers! Much appreciated and am following you. JV
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It's my pleasure, @jvalentine. Keep growing . Enjoy the steemit ride!
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The number beside your username is your reputation score which is the number 51.
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That's very kind of you to respond. Now I know a bit extra about using Steemit, it's a learning curve and everything that's said on here useful. Thank you
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Can you tell me how the reputation is awarded? Is it from 0 to 100 for example?
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Starting number is 25, now those with lesser scores i.e 24 downwards shows that they have been flagged for malicious reasons... It can only be rewarded by the number of upvote per post or comment. But i believe its more of the upvote.
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Thank you sweetest that's very useful. Thank you for taking the time to answer. So comforting in such a wide open space!
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You're most welcome.
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That was a good attempt, dear, @sweetestglo-eu. The reasons for flagging are not malicious , most of the time. I hope you see some 2 to 3 spam comments on this very blog. I detest spamming. Now, I should flag those spam comments to keep steemit clean from being infested with spams. However, I'll let @sadkitten, @spaminator and @patrice take care of the spams for me.
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Oh its true, spamming as well. I see the spammers. Thank you ma, i learnt alot today.
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Firstly i want to thank you, @oluwoleolaide and @surpassinggoogle for doing justice to my question on reputation. You guys are awesome.
My question goes thus: Sometimes i really want to upvote a post but it turns out the value goes down upon voting.I usually retrieve my vote since my aim has been defeated.WHAT CAUSES AN UPVOTE TO TURN INTO A DOWNVOTE.
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I don't know if i'm correct but we are all here to learn, but let me try, i guess the reason could be that steem dollars actually reduced in price or it could be the voting power of the votee .. I stand to be corrected tho!
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Welcome to AMAWED, @sweetestglo-eu! That was a brilliant answer to, @blessedman939's question. Thank you for helping out, dear.
@maryfavour
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Thank you ma'am..
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You are welcome, sister!
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Welcome to AMAWED, @blessedman939! Thanks for your question. Just to add to what @prettycynthia has stated, when you retrieve your vote, as you stated, then it wouldn't be to your advantage. Why? It is because you lose out of curation rewards, based on your steem power and voting power.
@maryfavour
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Thanks for the reply. I feel blessed to be in your midst.
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It's my pleasure. Same here, bro. Enjoy!
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It's a beautiful Wednesday again. I will be learning new things here again. Thank you @redfishpillar and @maryfavour for organizing this.
Let me go and inform LAUTECH STEEMIT COMMUNITY.
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Welcome to AMWED, @harbysco! Yes, we will all be learning new things on this beautiful Wednesday morning. Invite as many of the LAUTECH STEEMIT COMMUNITY members as possible. Cheers.
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Job well done @maryflavour @redfishpillar
My question is solely on the significant decrease in general SBD output for a post
It has been observed and noticed that few days to the payout time , there is always a decrease in this amount. And for the past few days , some have been drastically decreased.
Any reason?
And possibly way out ?
Thanks
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Will like to buttress on this after you @maryfavour ma'am...
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Welcome to AMAWED, my brother@oluwoleolaide! Sure, please. Feel free to respond to as many questions as you can.
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Now we have two able hand in the building, we are definitely in two safe hands...... God bless you for us
Amen
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Welcome to AMAWED, @honourmaus, my able P.A. There are more than two safe hands here...hehe...like the addition of @eurogee ,@sweetestglo-eu and you, @honourmaus. All my newbies are very smart. Soon I will sit by the corner and watch you guys teach me about steemit. Interesting times ahead!
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Hehehehe, I can't wait.👯
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Captain, @oluwoleolaide and I, @maryfavour are mainly facilitating, but you guys are just fantastic. Well done!!!
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Was about to ask this
Can we do justice to this
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Welcome to AMAWED, @tormiwah! Please, what exactly is your question?
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Welcome to AMAWED, @olarewaju! Please, read @sweetestglo-eu's response to @blessedman939's question. I think that will help answer you question. Regarding possible way out for decrease in price of steem. It is for more there to be more demand for steem than supply of the token. This is my opinion, anyway. Thanks.
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Alright ma
Flunctuation is a cause !!! Noted
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@sweetestglo-eu nailed it man!
When you see drop in payout before the 7thday drop into your wallet, it can only mean one thing: Buy all the Steem you can with your SBD!
Better to hold Steem than SBD- My stance anyways!
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Absolutely true, @oluwoleolaide!
Generally, I don't hold SBDs. Most of my steem are locked up in steem power (SP). When I need SBDs, I either convert steem back to SBDs or just buy straight up with any other cryptocurrency through blocktrades. This is what I do. My stance is similar to yours, regarding token holding.
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Wonder how i will do the buying, will do more research on it.. Thank you!💃
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@sweetestglo-eu, this video below would help answer your question, I think.
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Oh thank you ma'am.
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You are welcome, @sweetestglo-eu!
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I noticed same thing, but a little bird told me its either the content was edited after posting or the price of the payout was affected by the rise and fall of steem... Still stand to be corrected!
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The latter seems accurate sweet one!......winks
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Oh, cool yay!!! I got it.. Thank you!
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Hello! I love the wordplay. Don't know if it was intentional.
AMAWED ...Am awed (I'm awed)about Steemit.
What's the fastest way of increasing your steem power?
Must you need to post about a particular subject (restrict yourself) ?
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Let me help out here.....
To number one question
There are two ways to grow your SP...
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Great! Thank you very much
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1 the fastest way you can increase your steem power is by either powering up which is using your sbd for such exchange or use your own money to that..
@maryfavour will give an indepth description of what i meant.
2 no you shouldn't restrict yourself, once in a while leave your comfort zone.. You can make your work more interesting with other topics but don't deviate from your Niche.
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Okay, thank you
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Hello, @yvonn. Welcome to AMAWED! Thanks for restructuring the sentence- Ask Me Anything Wednesday about steemit. For now, let's leave it the way it is. I thank @honourmaus for assisting to respond to your questions. Please read my response to @mikepm74's concern and question. You'll find the answer to your second question there. Cheers.
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Congratulations @redfishpillar! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
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@redfishpillar and @maryfavour a very big thank you for gracing us with your presence and share of knowledge. my question goes thus; the prices of cryptocurrencies are controlled by demand and supply, steem is mainly acquired to sell for users of it's platform thereby fueling the desire to get btc through steem exchange for btc. this in turn drives down the price of steem and increases the price of btc Do you think there is any measure in place or measures being put in place to solve this problem? Thanks in anticipation of your reply
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There are several ways to curb this problem and it was foreseen by the developers. Have you ever wondered why we have two cryptos on the steem blockchain? Okay. Pay a little attention here as Its quite difficult to explain it in my own words. The answer to this question is in the white papers.
Sbd is a debt token whiles steem is an asset token. Sbd is meant to be dragged to the mud and stick to the 1$ cap whiles steem is meant to move to infinity. That's the reason why you receive sbd as rewards. When you convert your sbd to steem, you actually push the price of steem a little upward. So exchanging sbd for btc does not have a bad influence on the steem ecosystem. The deciding factor is when steem gets dumped on exchanges. This does an irreparable damage to the market. All that been said, the faith of steem is closely link to btc as one cannot convert steem to fiat and vice versa directly. A direct exchange will bridge the slight dependence of steem on btc.
When steem becomes more mainstream, btc would rather depend on steem as it will be easy for someone to acquire steem and use it on real time than btc which has no community support. I hope I have cleared out some doubts. Please read either the steem blue paper or white paper to get the full understanding to the ecosystem
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hmmm insightful thanks for the breakdown
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Are you aware that's just an African/Nigerian scenario simply because BTC is the dominating Altcoin and the only possible means to convert to local fiat.
So for the rest of the World i.e Europe, America, Asia etc. that assumption is not likely true sir!
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sir i don't think i have been to any other country before so i guess i am not wrong looking at it from the nigerian side
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Okay nice,we are both from here....
I learnt two things from @tj4real detailed response as well...
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Hi, many thanks for this Q&A.
Do you know a witness who shares a part of his income from his node to those who voted for him?
Thanks a lot.
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@klye is a witness and manages the steem.global faucet. He shares part of his income with the whole community in a form of faucet. Registration is totally free and does not even depend on whether you voted him as a witness or not.
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Nice! thank you for this! It's getting closer to what I am looking for!
Btw I understand that I have 30 votes to distribute. All in one or do I have to split them?
Thanks again.
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That's an interesting question. There are several many witnesses. You have 30 slots to vote for 30 different witnesses. You can vote directly for your favourite 30 witnesses. Or u can set a proxy. Setting a proxy simply means giving your voting ability to someone you trust to cast your vote for you. For example, @steemgigs is a witness for managed by @surpassinggoogle, you can make @surpassinggoogle your proxy and he will automatically vote for steemgigs for you or another witness he believes in. Hope all
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Thanks for your answer. As you guess, I am more inclined to do it myself in the hope of finding a witness who rewards his voters with a share of his witness income.
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Welcome to AMAWED, @tj4real, Thanks for your very good response to @sweecee's question. Very much appreciated, dear. Cheers.
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Thanks and cheers. I
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No i don't know any.
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@redfishpillar This is supercool! Thanks!
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It is awesome to have an AMA here as I see on Reddit. I would like to know what happens when you upvote a declined payout post. Do the people upvoting the post get 100% of the reward since the author had declined payout, get none or still get same as when not declined? Thanks for doing this.
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A very nice question. When an author declines a payout, neither the author or the curators get rewarded. As to where the supposed rewards goes to, I don't know. But I think, supposed rewards stays in the reward pools for others to claim. Hope you question is well answered
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Thank you. Wondering why I see 470 votes on a declined payout post. Guess those upvoting and wasting their voting power do not know this. I guess the reward gets burnt the same way they burn steem to promote a post.
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@redfishpillar Really intriguing and insightful submit. Want you the most effective with all of your potential endeavors.
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Welcome to AMAWED, @elladinolana! Thank you for your kind words and support.
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don't know if it's right to ask this, but i will anyway.
Is there any way BITCOIN and STEEM work together. The reason i asked is that I noticed that whenever BITCOIN drops, so do STEEM. Is there any reason behind this??
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Congratulations @redfishpillar! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
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