I have meant to create an analytical beginner's steemit guide for a while now, but it has just been accomplished!
In this post you will find useful information about steemit and useful links where you can go to for greater analysis.
When I first 'landed' on steemit (but also before my registration) I was trying to read as much as I could, gathering information that were everywhere and it was time consuming as well as a bit frustrating.
The one thing I felt that was missing was information gathered together, instructions, a guide with all content items about this platform.
What is Steem?
When I first signed up for Steem I logged in and was absolutely clueless as to what I was supposed to do from there. Therefore, I decided to compile some of the basics that I have come to understand from the platform. I hope this guide will help those who are in the same position that I was in at the start.
So what is Steemit?
Steemit is essentially a social media platform in which the users are compensated for creating and curating content. So these rewards given in a store of value called Steem. This can be bought or rewarded for contributions on the social media platform.
What do you do with this Steem?
There are three ways to hold the accrued value through the platform and those are Steem, Steem Power, and Steem Dollars.
So Steem is the basic form of currency that is rewarded and can be bought. The major exchanges on which Steem can be bought is are Bittrex and Openledger.
When you own Steem you can then convert it into Steem Power where those funds cannot be taken out for quite some time. So this route is more of a long term hedge on the success of the platform as a whole. However this comes with some perks where Steemit rewards its holders by distributing Steem Power as new Steem is created therefore giving somewhat of an interest rate to its holders. The Steem Power is also important when receiving rewards because the more power you have, the more influence your votes and posts have.
Steem Dollars are a stable store of value that is equivalent to about a US dollar. This doesn’t reap the rewards of those holding in Steem Power but has far more liquidity.
What do you do with these?
So Steem is constantly being created in fact every year the amount of Steem is doubled. So why would you want to hold on to Steem? You really don’t want to hold on to Steem for any amount of time because with the supply doubling each year there will inevitably be a decrease in value barring a major spike in use. So when you have Steem you pretty much want to put it into Steem Power, or if you don’t want to make that two-year commitment you put it in Steem Dollars in order hold its value. So to sum that up the only reason to have Steem is to convert it to USD or to buy either Steem Power or Steem Dollars. The Steem Power gives you a return on your holding but can not be taken out for two years. Meanwhile, Steem Dollars are more stable and for people that don’t want to commit to the two year hold.
What makes this work?
Steem can easily be bought and traded as a cryptocurrency for ease of use. Meanwhile holding on to the currency is mutually beneficial due to rewards in the form Steem Power being distributed to holders while also keeping the value of Steem at a sufficient price level for a guaranteed period of time. The community is also constantly active because of the incentives for people to chime in and share ideas.
I struggled with the concepts of Steem when I first started and had to research it for myself. I hope this quick beginner’s guide can help others avoid the difficulty of understanding how the system works.
NOW BEST TOPICS FOR STEEM.
First experiences: Write about something you did for the first time like About your first experiences on plane or something like that.
Make list: List are something that everyone likes. You can make a list of top gadgets, top movies or music of the years or anything you are interested in.
Dtube ideas
Vlogging
Motivational speeches or talks
Tutorials or how to videos
Reaction videos
Cooking or other videos
Review videos
Crypto analysis
Food or Cafe
You can write about some unique or even typical dishes you found at a restaurant.
Blogging
Are you a professional blogger or think you can share something that has been helpful to you or think can be helpful to others?
Thank you for reading! Please let me know in the comments if it helped. Upvotes are always appreciated. Resteem so that your friends and followers get some ideas too.
Namaste!