1. Does resteeming have a price? I would simply love to know if this art has a cost or is it free? Do you lose steem power etc if you resteem?
2. Does it affect your reputation if some steemit user with a 'negative reputation score' upvotes your post?
"In the recent past, i have had several of my posts upvoted by several people and when i get to look at their profile, most of them have a reputation score of (25) and have had no activity on their account. Recently too, my post was upvoted by an account that has a 'negative reputation score' of (-4).
Will this have done my post any harm? Will it diminish visibility of my post? Will this work to reduce the reputation score of my account overall?"
Overall, i would like this list to grow into a lengthier list of unanswered yet basic questions as i feel this will help others like me who aren't yet very well versed with how steemit works and get overwhlmed by the wealth of information that's forthcoming daily.
It is an obvious fact that the terms on steemit grow each day, including hastags and apps, as people on steemit are in constant motion wanting to make life easier for others but as the number of terminologies increase, it makes it all the more complicated for us who still cant define or understand what a term as basic as 'steem' means in layman's term.
Understanding fully, these seemingly tiny questions that stay as bugs in our brains, will go a long way in helping us have a hint on what those giant terminologies mean.
Deep down, if i already understood steemit fully, i will passionately bid towards tutoring people as i know how distressed i still feel at this point, when i keep reading so many new stuff on steemit and can't really relate! Plus, considering that i am vast in the number of years and experience that i have had on the internet, then for a certainty, many others here on steemit can't float and will tire out.
"Let's help us!"
If we can build a small list of unanswered questions then perhaps others with real knowledge can explain well.
I read something long ago from a prominent person, saying that if you can't explain a concept in layman's term, then you haven't really understood the concept well enough yourself.
This explains it a bit:
@steemed-open · last month in a comment on (What is Cryptocurrency and Why It's Not Scary: Ambassador Toolkit ...)
"Thank you for writing this. I basically understand cryptocurrency because I've been around it for years. my partner @sean-king has dabbled in it since 2010, but I still find it hard to explain to others succinctly. This is the best summary I've found!"
So, if you do have any question that has stayed not fully answered or understood even after you have read and read and read, perhaps, we can start a small movement that will fix many people on steemit because i tell you it does calm the heart.
@sykochica understands this fully:
Yesterday, in our small chat and as she tried to answer my question. She fully understood what i meant above by 'a calmer heart'.
We were discussing how i felt that my steem dollars were vanishing as i upvoted amazing posts and how i stopped upvoting as i entertained fear that i will no longer be able to upvote posts, if i no longer had steemdollars left. Really, those were my feelings until recently and after speaking spoke to @sykochica. She was quick to understand and allay my fears
In her words:
" hrmmm...i can say for sure that voting doesn't change your SD balance...can be confident there.
the only way to see SD's go down is to transfer them to someone else, buy or convert to steem with them, or cash out through exhcanges like blocktrades/bittrex/poliniex
that is very strange
i can send you a few SD's just to bring it back up to the 5 or so you had, let you vote with less concern and just keep an eye on it to test/see for yourself..i can understand the concern of voting if you've seen the Sd's go down
@barrydutton57 · said days ago in his comment on the same post as above:
"IDK how all you SteemitElders and everyone finds and keeps track of the 4M steemit tools and sites on here, LOL, I just stumble on some here and there - it is nuts how many there is!"
The entire steemit, blockchain and cryptocurrency topic is a very very very interesting topic and a school on its own, don't let us let quit or tire out easily on an amazing gem because they aren't able to understand these terminology or the entire steemit concept in layman term or non-crypto terms as @sykochica would say it.
And about faith in the concept that steemit holds?
I tell you; having this tiny terminologies, the basics, explained in non-crypto terms will fix people's faith in steemit and take it out of dwindling state.
(NB; How do people get to have faith in Supreme Being Jehovah above for instance, it is mostly by understanding his word, THE BIBLE!)
This will give you a hint:
@full-steem-ahead commented some days ago to the same post above;
"You've presented some good information here on the role "faith" plays in the utility of a currency. When faith in a currency is lost people turn to other forms of currency to trade with which they trust more.
However, I'm not sure you dealt with the question, "Where does the money come from?" I emphasize "the" because I interpreted the question to mean, "Where does the money in steem come from?", not the more generalized questions "what is money?" or "where does money come from?"
The people I encounter want to understand "What is the source of the money used for steem payouts?", and "Are investors' funds used for curation and content payouts?". In other words, people want to understand the flow of funds in the steem ecosystem to validate it's not a scam or decide if it's a worthwhile investment and if so how to determine ROI. All very reasonable questions, questions I myself have yet to hear a good explanation for.
The Steem whitepaper explains a lot, but does not do an adequate job of addressing Steem's model of sustainability. It does a great job of explaining the incentives and features aimed at encouraging adoption, platform growth and high quality, market driven content, but does not claim such incentives will guarantee success (i.e. will be sustainable) or predict a rate of growth.
Most people prefer to be handed solutions and answers to problems rather than doing the hard work themselves. That may or may not be laziness, but one thing is certain: saving labor or reducing its' costs creates wealth. Difficult challenges drive creativity and learning. Whether the Steem platform is a sustainable ecosystem remains to be seen and nobody knows the answer. There are so many factors to consider that it's easier to conduct an experiment (creating a company, hiring admin staff, programmers, marketers ...) than to construct a provably sustainable model. Nobody has a model to accurately predict what a free market will reward with growth or dwindle to destruction. If it could be predicted it wouldn't be free.
Perhaps the answer is allusive and difficult to articulate because Steem is an experiment in progress and the analysis is ongoing. What feedback metrics need to be monitored to determine Steem's sustainability? How does one assess Steem's health? Is looking at the market capitalization sufficient or irrelevant?
I have never seen an actual "business plan" for a crypto company. Aside from describing features and arguments for why such features will produce an emergent property of sustainability, what could be said to convince investors that will happen that isn't highly subjective? There is nothing, it's a judgment call and the wisdom or folly of it can only be proven in retrospect".
His comment said alot and needed to be featured as i try to wake up #thebestpostsarecomments and #savethecomments!
Too, from his comments an underlying question still sticks:
3. "Where does the money on steemit come from?"
Some of my additional questions are:
NB: I feature this question here even though i got some answers from @sykochica for the sake of others, who silently have similar question:
4. When you upvote, what exactly does it take away from you?
"I would usually upvote relevant content at the beginning when i joined steemit! At, the time, i think i had 5 steemdollars given to me for signing up but i noticed that the 5SDs were vanishing very fast when i upvoted. When it became very low, i stopped upvoting for fear that if it exhausts, i will no longer be able to upvote etc.
Is this true? If my steem dollars get exhausted, will i still be able to do anything, in terms of upvoting? As i have had this question in mind, i ended up chatting with @sykochica and she had some answers, however, if you have additional ways of explaining this, kindly add yours in comments down below!
More Questions
5. Looking at one's wallet, what does it mean where it says
" the estimated account value mean is . ....?
6. If one forgets his password, is that the end? is there a way to reset password?
7. If you tag others only when it is relevant; for example tagging another steemit user in a question, will it cause your post to get flagged or downvoted?
(In general people are silently afraid of posting freely on steemit for the sole fear that their post may get flagged, even me!)
How does one know if your post has been downvoted, will you be notified or is that what the flag counter on the top right of posts indicate? Plus, how do you get to know what your post was flagged for or by who?
Can i please quickly ask,
8. Are 'bots' here on steemit or what the 'bots' represent; a bad thing?
I see some of these bots with good reputation scores interacting with posts, and they appear like they do more good than harm, is that the case? Is it a human behind the bot? Like the bot that highlights that one's post has been linked to or share on twitter or that says one 's post is underranked; Do these bots do harm? If one follows these bots or upvotes them, does that reduce one's reputation score here on steemit?
9. When it is said that your steem power determines your influence on earning and voting, what exactly does that mean and is that directly related to the reputation score beside usernames or what does that exactly mean?
I have seen the number beside my username @surpassinggoogle grow but i don't really know what effect that has? Does it help others when i upvote them if my reputation score is (56) for instance?
As i get a few more questions to exhaust the basics i will update this post in the comment. Please feel free to add your questions too, to help us all get some answers and new knowledge, comedy, fun, howto, inspiration, thoughts!
In the meantime, some more vital comments related to same post above on (What is Cryptocurrency and Why It's Not Scary: Ambassador Toolkit ...)
@jessamynorchard62 · last month:
Great information as always, @sykochica! Thank you for curating it and helping us make sense of it, so we, too, can become better ambassadors of the site. Love it.
@michaelstobiersk62 · last month:
Great explanation. This is all new to me. Your post gives me a better understanding. Thank you. I upvoted, reposted and followed.
In response to one of the questions above as to where the money on steemit comes from, here is another post of @sykochica that explains it in easy terms:
Where Does the Money Come From? - Ambassador Toolkit Item
And here are some comments associated with her post that shows, that many on steemit get relief and stronger faith after terminologies are pinpointly explained, thus increased faith in the system. I am placing the comments here cos i notice that some comments are good enough as entire posts and contain so much information and some of this info; in non-crypto form, thus the need to highlight some of them here in a post. NB: (Comments on steemit in general, don't get see on their own and some comments as relevant as they are need help, to be seen:
@jrcornel67 · 20 days ago
Great post and thanks for explaining it in such easy to understand terms. It was a great refresher for myself to understand exactly "where the money comes from" ;)
There does seem to be some confusion though... myself included. That 90% (roughly) interest that is earned on SP per year... is that earned no matter what or is the "interest" earned actually by voting throughout the year and can be as much as 90% (or more). The white pages weren't entirely clear to me and some others on that topic...
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@sykochica(65) · 20 days ago
That's a great point and I had to do a bit of digging...and I might be off on my interpretation here. From the white paper:
The majority of inflation is actually an accounting artifact rather than true reallocation of wealth. 90% of non-SMD inflation is distributed back to existing holders of STEEM proportional to the STEEM value of their SP balance, making inflation more of a “split”. Only about 10% of non-SMD inflation redistributes ownership in the network.
My understanding is that the interest earned on SP occurs even with zero site activity (like posting or voting.) It's a mechanism to basically offset the inflation caused by new Steem created each day, so those who have Steem locked into Steem Power for the 2 years don't lose value on it.
Because 90% of all STEEM created is distributed back to holders of SP, the result is similar having a 2:1 “split” every year rather true inflation. I view this as a way for holders of SP to maintain it's overall value while the new Steem is created....essentially providing more Steem/Shares to offset the slightly lower Steem price due to the daily created money.
I've not run numbers myself on if this merely maintains current value of holdings versus increasing the value.
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@jrcornel67 · 20 days ago
I went back and read the white paper in its entirety... and I think you are exactly right. The 90% is independent of any activity on the site... so really with the 90% and curation rewards, one can earn quite a bit of "interest" on SP over the course of a year...
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@sykochica (65) · 20 days ago
Glad that's how you read it too! This way i don't have to edit, lol.
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@lemouth (64) · 20 days ago
Very clear post! I will now read the first one! :)
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@sykochica65 · 20 days ago
Ty! :D
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@jenkinrocket62 · 20 days ago
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@sykochica65 · 20 days ago
Definitely no problem. That's a great post to go along with this!
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@dragosroua65 · 20 days ago
Good one! Resteemed and upvoted!
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@dragosroua · 20 days ago
Also, don't want to steal anybody's thunder here, but maybe you could find some food for thought here. if you're looking at ways to explain Steem / Steem Power / SBD without resorting to financial knowledge. Hope it helps :)
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@sykochica · 19 days ago
Def no worries, that's a great post! Actually just read, up voted and resteemed yours earlier today :)
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@timcliff66 · 19 days ago
Thanks for this. I am going to try and add this to the welcome page that we are working on.
And one more question before pausing:
10. If you can't upvote endless number of times a day, what is the limit? i hear it is 40. What is the negative effect of upvoting less than 40 times in a day, and what if you went over 40 in error, is that detrimental? How does one monitor his voting progress?
Perhaps, with time we can develop an explanatory glossary explaining the basic terminology in plain language and a connection of real friends wanting to lovingly help other friends as we journey.
"Stay for the community and afterparty"
In no time, perhaps we can have a channel on steemit.chat with really strong connections filled with love and the keen desire to render aid. Or re-wake-up the channel Steemprentice on steemit where (@sychochica @virtualgrowth @justtryme90 @haphazard-hstead @lovethepeople @steemitqa @thecryptofiend @knozaki2015 @gandalf @fuzzy @phoenixmaid @firepower @instructor2121 @justrtryme90 @williambanks) try their best to help others grow!
If you follow me, i will be really glad and if you need help using the app or getting it, can help! You can always drop a message on steemit.chat, i am @surpassinggoogle as well on there!