A lot of noise has been made around steemit in the last few years. Steemit is just like any other social media or news platform just that steemit pays its users with a crypto currency or a digital currency called steem for upvoting, delivering and posting good content such as news, stories etc.…more of something like Facebook but with a nice add on for getting involved .
The difficulty with steemit, is that it is just too difficult to learn and understand. There are to many confusing features. Example we have the platform @steemit ,the digital or crypto currencies @steemdollar @steempower.. At the end the beginner is just left stranded and confused and decides to leave the platform.
In this article I will try to make out some meaning out of these posts and the features and platforms. And I will try my best to help us understand how to get started with steemit.
A LITTLE HISTROY ABOUT STEEMIT
@steem, the crypto currency was first discussed in a whitepaper in 2016 march. @steem and @steemit were originally in beta not until 4th of july 2016. Then the platform became active, and live payments were made to the contributors,the crypto currency then saw a 1800% increase in its value from about $0.24 to about $4.63. but then the hyped was no longer there and our beloved steem declined slowly and steadily to about $0.28. the rocketed growth and sudden demise of the digital currency made a lot of people think steem was just another dump scheme.. just like the ULTIMATE CYCLER(Nigerians can relate). The steemit however have grown again immensely over the last or past few months
https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwj1y8ik_v_YAhUGshQKHexgBCEQjRwIBw&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FSteemit&psig=AOvVaw2fot-Ce5NmO2vJ3Kjmi_2y&ust=1517411970934226
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Saying the truth I have not really used steem or steemit for a long while I am still new to it just got registered this January 2018. This article is my first step in trying to make sense of it.
STEEM, STEEM DOLLARS AND THE STEEM POWER:
Steem dollars: the steem dollar is the crypto currency of the @steemit platform in short form it is known as the @SMD. The steem dollar is what people send to each other if they upvote posts on this. It is called the steem dollar because 1 @SMD represents a particular amount necessary to meet 1 USD(us dollar)…..
But unlike steemit cannot be used it outside the steemit platform .it must be converted to steem and only then you will be able to convert it to bitcoin or us dollar.
To be continued........
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@stach thanks for the steemit hub..........