As we all know, Steemit is a social network like Twitter, Facebook, My Space and many others that we know. What distinguishes STEEMIT is that their initiators, Ned and Dan, took the work to make a different commercial approach that would appeal to their users: they give them rewards, in the form of a virtual coin, STEEM, if the users do certain actions within this social platform. Therefore, they created a virtual currency, STEEM, that can be interchanged with the other virtual currencies, to compensate their users.
This currency, at the moment when I am writing this, was among the top 20 currencies in a scale of over 4.000 virtual currencies that have been created during the last eight years, when everything started with the very well known Bitcoin. In order to see this information and more, you can check Criptocurrency Market Capitalizations, a website dedicated to this subject, where BItcoin predominates with close to a 50% of the world's virtual coin capitalization. The actual value of a STEEM is over a dollar, but it could raise very quickly according its commercialization and usage.
Like other social networks, Steemit has certain similar concepts, as for example: LIKES in the form of UPVOTE, but here we receive votes and money (in the form of Steem and STEEM POWER. What is STEEM POWER? It is like hash power in mining -increase the opportunity to earn more Steem. The more you have, the more you can earn. So we are gaining STEEM and STEEM POWER by our likes, comments and use of content, etc. In the UPVOTE arena, there is also a “pool share" concept that compensates all of those that participate in the same conversation or trending, which helps everybody earn a little bit of the main pot.
This is like this: If you like my commentary, click REPLY and enter in the conversation. Then, UPVOTE to get a share of the STEEM already earned or to be earned, and share the article so more people can read it and do the same. Next to REPLY, you can find an arrow that helps sharing what you have read. Before sharing, you should know that FRIENDS or FOLLOWERS are very valuable in a social site like STEEMIT. So find the friends in each trending, follow them and start socializing. Next to their name, you have the feature to follow them. Contrary to other sites, here they don't ask you if you know them. So you can follow all of them and if they accept you, you can make grow your network, which is also my nextwork or our network. The more friends you have, the more valuable is your site and you can see a reflex of that in your wallet.
The wallet, which is under your image, tells you the value of your page an how much you are earning day by day.
An important part of the wallet is that it has certain keys or adresses that are important to move your money.
If you like what I just wrote, welcome to STEEMIT. Follow me, leave a reply with any questions, and give me your upvote and resteemit. Let's make some STEEM together!
Hi. Thanx for the information. I've been confused for some time on exactly how this works and this has provided a lot of clarity.
Cool post.
I am glad that it is helping understand Steemit. I felt the same when I got here and a person by the name of EL MAYORDOMO (the servant) send me some information. So I felt like you. Please, resteemit as much as possible, so other people, who are in the same boat, can read it. Thank you. Let's make the best of Steemit!!!
Do you know hoe exactly one gets more Steem power. Is it bought or earned through the Steemit social network?
You can buy it. As of matter of fact, I also wrote on how to get STEEM without being in STEEMIT. Check my site. That's mainly because of mining. But I am receiving Steem Power from my writings and the comments you, the followers, do in each of them. Re-steemit also helps because it gets to more people. But they were talking about an additional tab to do share instead of re-steemit. There is also a "bot" that helps you do Upvote, but that's a different page and as far as I know, they were going to charge for that, starting in January.
Thanks for sharing what you know about Steemit with others. May God bless you.
Steemit has some little tricks. Another person told me I should mention that the time is important. 15-17:00 UTC he was telling me it is the best time to share the articles. That's like early morning in California 7-9:00 a.m. Probably that's the time of the siesta in Spain. Ja, ja, ja. They are not sleeping, they are steemiting.