I can safely say that Steemit.com has changed my life. It is the golden egg that I have spent a lifetime searching for and I have been a shiny object collector for many years.
It has given me the opportunity to pursue my love of writing and effectively chat to people all day and make enough money to support myself and my two young children.
I have to admit, but up to about 2 and a half months ago, I didn’t really take Steemit seriously, more of a hobby now and again, as I had many ideas I was trying to pursue at once and I wasn’t really getting anywhere with any of them.
I buckled down and focussed on Steemit. First of all I started writing 1 post a day and then 2 posts a day and now for the last two months I have had an income that is life changing enough to get off welfare and not worry about where the money for bills will be coming from.
Steemit is changing lives everywhere, it is an amazing social media platform that is innovative and the people on it never cease to amaze me with their generosity and community spirit. It is often said that people come for money, but stay for the community
Success is not always instantaneous, but it is quite attainable if you bear a few things in mind that I will share with you in this ebook to fasttrack your Steemit success.
These are my earnings from the last week…
Persistence is key and an a don’t give up attitude to whatever life throws at you.
What I earn on Steemit is really rather average, but it is enough to be life changing and I do try new tactics and strategies out that often are often profitable ones. I love steemit and all its opportunities, friendships and money it has brought me and I can’t wait to share that with you.
I love Steemit. It is the best social media site out there in my opinion. It has awesome people by the bucket load and is a perfect opportunity to make money writing. In my case, writing just 2 posts a day. People are successful writing more and some less. I consider my earnings pretty average really as the sky is the limit.
It’s nearest comparison of another social media is Reddit, but like a version that you get paid for.
The way Steemit works is based on cryptocurrency, but you do not have to get your head around that side of things if you don’t want to as it will not affect your earnings. It might be something that puts a lot of people off, but it really should not.
This is my basic grasp of it…
Steemit is social media site built on a block-chain and my understanding of this is that everything you do on it recorded, all your writing is considered a transaction and will be recorded.
Because of its transparency and the fact that anyone can look to see how much you have earned and look at your history to see what you have withdrawn, it makes it a rather honest place to be.
Scoundrels and tricksters will be caught out very quickly and their misdeeds recorded forever.
Basically how Steemit works is that everyone creates posts and when these posts receive upvotes, then you earn some money on them. Some money you can cash out and a percentage goes back into Steemit to increase the reward pool, so that there is always money going in to grow Steemit and support its users. You can upvote your favorite posts too and receive a small percentage of that post’s earnings too.
Everyone arrives on Steemit hoping to make money, to be fair that is what we all want to do, but we end up staying and making some of greatest acquaintances and friendships of our lives.
It truly is an awesome platform and its a dream come true, as it is like having hobby that you get paid handsomely for. And then you get even more money for leaving comments and making friends.
Would you like a bit of this honeypot? Then let’s begin…
Signing up For a Steemit Account
Step 1: Go to Steemit.com and click on Sign up
Step 2: Choose the Username you would like to been known as on Steemit. You cannot change this, so please bear this in mind and Press Continue
Step 3: Enter in your emailand press Continue
Step 4: Select your Country Codeand write in your Phone number(one that you can receive SMS on and press Continue
Step 5: Enter in the confirmation codethat you received via SMS and press Continue
Step 6: Time to go and check your email
Step 7: Hopefully the email will be sitting pretty in your inbox, but if not remember to check your other folders and spam
Step 8: Open up the email and click on the link…
Step 9: Next you have to wait for your Steemit account to be approved. This took less than 48 hours, but they do say it could take up to a week. You will get an email like this….
Step 10:Click on the link in the email and you are almost a new wonderful Steemian.
Step 11: Read through the Terms and Service and press “I Agree to These Terms”
Step 12:Make note of this password, keep it very safe, never lose it, or give it away to anyone.
Step 13:Now you can log in with new your new username and newly generated master password
VERY VERY IMPORTANT
Step 14:WELCOME TO STEEMIT!
I am going to give you the URL of this page: https://steemit.com/welcome, as it won’t show up again, but it is good to refer to, although some of the advice will differ slightly, like on their suggested TO DO list, but it is a decent foundation, especially for learning some of the Steemit terminology. Although I have created a Steemit Glossary that can be found at the end of this ebook.
Are you ready for the Steemit Journey of a Lifetime?
Finding Your Way Around the Steemit Profile
You new profile will be http://www.steemit.com/@username
So let me give you a peek into the world of Hope Huggs, yes this is my personal Steemit account. I have even considered changing my name to Hope Huggs, but anyway this part of the journey, starts here: http://www.steemit.com/@hopehuggs
This is where dreams are being made and fulfilled.
Let’s look at the Wallet First…
I know you are dying to see what kind of money can be made, but first let’s get account security in check..
You have your MASTER password for Steemit. Don’t use it! Keep it safe in a place you can access it, because if ever your account is compromised it is your get out of jail free card. There are other passwords you can use to do everything that you need to on Steemit.
But if you ever need to change your password, and you can only do that with the Master password and this is where you do it…
So what passwords should you use? Steemit calls them permissions…
In addition to the MASTER key, we have:
- The POSTING Key
- The ACTIVE Key
- The OWNER Key
- The MEMO Key
I am going to ask you to read the glossary as what the permissions mean, but basically only use your POSTING and ACTIVE key and lock away your OWNER and MASTER keys.
The MEMO one is irrelevant as a whole on Steemit at the moment.
If you want to read about these permissions now, then this blog post will help you see what they all mean. https://steemit.com/steemit-guides/@pfunk/a-user-s-guide-to-the-different-steem-keys-or-passwords
Now, let’s take a look at my Wallet, which shows my earnings…
At the end of 7 days, whatever you have earned on your post or comment will be yours (well 75% of it will be, as 25% goes to the curators, but I will talk on that more a little later)
On this example, I have 27.169 SBD and over 8.403 SP (earned from writing posts), but what does that mean?
I can’t claim to have my head completely around the cryptocurrency side of things, but it is my understanding that
instead of people using computers to mine the blockchain, Steemit uses people’s brains! The content that is created on Steemit creates more rewards and helps the user grow and Steemit grow.
Here is a good description of how it all works by someone in the know:
The user gets SBD (Steem Dollars) to cash out immediately and the STEEM POWER generated with each ‘successfully noticed’ post benefits Steemit as a whole.
Let’s look at STEEM DOLLARS first…
The STEEM DOLLARS (SBD) in my wallet at the moment, I can get my hands pretty much within a day and I will show you how to do that in another section of the course, when you have your own SBD to ‘withdraw’.
Let’s take a quick look at the exchange rate to see the value of SBD right now and to see what 361.535 SBD translates into in terms of REAL money!
So at the moment 1 SBD = $6.85
And 361.5 SBD is worth almost $2500!
That will cover the rent and everything! (at least twice over)
This has been a good month. And the worth of the Steem Dollar has remained the majority of time above 5 USD since beginning of December. And around Christmas, it went higher than 10 USD. So much potential. I should probably look for proof of what I am saying….
Now STEEM POWER…
STEEM POWER means that more rewards are fed back into Steemit by the power of the upvote – the more STEEM POWER you have the higher the value of your upvote is worth. I have earned 2,802.574 STEEM POWER in just over a year on Steemit.
STEEM POWER is essentially STEEM and at the time of writing this 1 STEEM is worth $5.98, so my account is worth over $16,000. This is on top of the weekly $1,000 I earn. If I really wanted to access this money I could, it would take 13 weeks to receive it all, but STEEM POWER is the lifeblood of Steemit, so I will not touch it.
The higher your Steem Power, the higher your vote is and the higher your status on Steemit, people start to take more notice of you and want you to upvote them, I mean look up to you.
I hope you are seeing the potential here.
Next, so how do you make money on steemit?
I’m going to keep it simple, as Steemit is massive and there is potential for creating apps for it and going down that avenue would be financially rewarding, but I won’t not have the first clue about it, so I’m sticking to the two mainstays for most people:
You get can paid for creating posts, comments and replies. On every one of these types of content there is an upvote symbol as below, which you press onto vote. I’d like to say the more votes that you get, the higher the value, but it depends on the Steem Power of the people who vote you, as to how much you recieve. You will get 75% of the value of your post.
Steemit etiquette is pretty much that it is okay to self vote your posts, but not your own comments and replies. Although this is open to debate. I self vote my posts and the majority do. It is acceptable when you post good quality content.
When you vote on other people’s content (posts, comments or replies), that is called curation.
25% of the the value of each post, comment or reply will go to the people who voted on that post and this gets paid in STEEM POWER.
Each of these get paid out in 7 days….
Here is a look at my author awards from writing content for the last week…
And my curation awards…
And to claim them into my account, I would press on the REDEEM REWARDS button in my wallet.
All transactions received and taken out are recorded in the history section on this page of your Steemit profile:
The posts you write are shown on your Profile page.
The one I have circled in red is mine and the ones green are ones that I have ‘resteemed’ and the ones that have read that I want my followers to see on my feed.
At the end of each post you read (if there are within 7 days of being posted) , you will have options to reply, resteem and upvote…
If the post is more than 7 days old, an upvote will not add any value (even though the vote symbol is still there) and the resteem option will not be there, but you can still reply.
You can see what you have commented on other peoples’ post here on this section:
And what replies you get to your posts in this section…
Setting Up Your Profile
Let’s take a closer look at the actual profile header and Setting that up to suit your personality and to your taste.
3583 posts in the blue there, doesn’t means that I have written 3583 posts. The number refers to all the posts and comments that I have done since starting Steemit.
That number 65 in the green?
That’s my reputation and I wrote a post describing reputation by using the example of rodents, let me just dig it out…
What Rodent are You? A Humorous Description of Steemit Reputation
So its many peoples’ dream to escape the rat race, so I thought let’s take a look at Steemit Reputation like we are all rodents…
So what is Steemit Reputation?
Your reputation is that number by your name. It is not necessarily an indicator of how much money you earn, but an indicator of how people see your content. The higher the number, the more value Steemit and the community places on your content.
We all start off at 25 and grow from there hopefully, but if we don’t end following the rules, we end up under 25.
Reputation under 25 NAKED MOLE RAT!
You need a hug, a nice warm coat and some help and right advice to help you grow and avoid the dreaded downvote. Common reasons to get downvotes include spam comments and plagiarized work.
REPUTATION: 25 – 30 DORMOUSE
You have just stumbled onto Steemit are just starting out and feel very little compared to all the other users on it, like you are a dormouse running around in a huge field. You hope that you will get paid from the moment you hit ‘post’, but don’t really have a clue about the ins and outs of Steemit yet.
REPUTATION: 31 – 39 HAMSTER
You are beginning to understand some more about Steemit and are riding the Steem train. By now you will have created a few posts. Hopefully you are beginning to store away a few seeds in your SP and SBD. But you are beginning to realise that there is a lot more to Steemit than meets the eye. It’s not about the money, but it’s an amazing community too.
REPUTATION: 40 – 59 SQUIRREL
You have become a hardworking squirrel as you have decided to keep at Steemit and are beginning to find your feet and beginning to scurry about with what you write about and you write regularly. You have made a few friends and your SBD and SPD seeds have turned into acorns.
REPUTATION: 60 – 70 BEAVER
By this time Steemit is probably part of your daily life and you are finding your community and gaining more support, and you also know the importance of giving back. New Steemians will look up to and ask your advice. Be kind, as they may well be the next generation of beavers. You are probably also getting a few good post payouts by this time (not necessarily every time), but you are finally on the map, with your well built damn. And your SBD and SP are the logs that help build your home.
REPUTATION: 70 – 79 CAPYBARA
By this point, you will have a huge presence on Steemit, much like a capybara, in the rodent world and like a capybara you are most likely really sociable and/or do a great deal for the Steemit community and people look up to you. You encourage people to join Steemit.
REPUTATION: 80 + SENSEI SPLINTER
No-one has reached Sensei Status yet. The race is on for this throne position. I don’t know if anyone knows how high the reputation can go, so this will be ultimate sensei status. The ultimate masters of Steemit success. We will have a lot to learn from them.
I hope you liked my take on rodent reputation.
So the red circle on the left is how many people are following you and the red circle on the right is how many people you are following.
When you are reading a post or a comment and decide that you might like to follow that person, click on their name.. Here is our very own Jeremy Kennedy’s steemit profile, https://steemit.com/@jkennedy- so if you click one of the posts to read it, then left click on the name to select to follow that person
Then select ‘Follow’ …
If you want you unfollow, you just click that link again.
Mute is when you don’t want to see a person in your feed, or perhaps they consistently write bad comments.
When you follow someone it means that they appear in your feed, so you can see when they have posted…
It just so happens that my friend and mentor http://www.steemit.com/@valorforfreedomhas created a series of videos to help create a decent profile, as part of his ongoing Steem School series. He does drop the odd swear word now and again, but we are all adults and he has an excellent methodical way of explaining just what to do, so I will be linking to a couple of his posts here.
Setting Up Your Steemit Profile
So let’s look at getting your profile set-up so it looks awesome…
We need to go to Settings:
A nice colorful settings page…
Language:Pick your Language
Profile Picture URL:You have to upload your image to a site like imgur to obtain a URL.
Here is an awesome tutorial from @valorforfreedom to create a profile picture:
Cover Image URL: It is good to have a cover image that reflects your personality. I have phoenixes, for two reasons, they keep being reborn and rise from the ashes. Here is a tutorial for creating a decent cover picture with Photoshop: https://steemit.com/steemit/@valorforfreedom/6w8f2e59
Display Name: This doesn’t have to be the same as your username, but will be what shows up in this section of the profile
About: Here is where you let the world know a little titbit about yourself.
Location: You can write anything here. On a world cruise, on a beautiful beach, or the truth.
Website: If you have a website, you’d like to share, pop it here. If you leave it blank, there will be nothing written there.
When you are done press the UPDATEbutton and it will populate your profile, once you confirm it is you by signing in again:
Ideas on What To Write About
A good place to start is an Introduce Yourself post. Tell the the world who you are and what you are about. People like to react and interact with real people. For this post, remember to include the tags #introduceyourself and #introducemyself
Also be aware that anything that you do write, will forever be on the blockchain for the world to see, so share only what you are comfortable with.
Here are some more ideas of what you could post about
- Consider series of posts, like a journal towards a goal (I do this)
- Poems (I do this)
- Commentary on news or current events
- Book Reviews
- Movie Reviews
- Entering contests (I do this)
- Memes, short stories, photography, etc.
- Area of speciality like self-improvement (I do this)
- Rewrite private label rights articles and books (I do this)
- Trawl your desktop for the books and ideas that never quite made it into the public and use Steemit as your trampling ground (I do this)
- Use content from Kindle books you have created and post them (I do this)
Here are a couple of alternative ways to get ideas to write about…
Stories from Real Life and Eavesdropping https://steemit.com/life/@hopehuggs/7okqof7l
Writing Using The Most Dangerous App to create content https://steemit.com/steemit/@hopehuggs/how-to-write-entertainin g-steemit-posts-writing-under-pressure
Some more Ideas from Philip Braselmann https://steemit.com/steemiteducation/@valorforfreedom/rfq1ibbl
And some beautiful inspiration to write beautiful words from the gorgeous Duro:
When you are entering your main article, you will need to use Markdown, so be sure to get to grips with the basics before you start:
Here is a good article to get you started https://steemit.com/steemit/@themarkymark/markdown-101-how-t o-make-kick-ass-posts-on-steemit
This is the one I refer to on a regular Polishing Your Posts: https://steemit.com/steemit/@ethandsmith/polishing-your-posts-tip s-for-creating-high-quality-readable-and-engaging-articles-for-you r-blog
Perfectly Formatted Posts AKA Branding
It is good from the offset to put some effort into to your posts and give yourself an identity. I have only been doing this the last two months, but formatting my posts, especially the recognizable thumbnail has been instrumental in getting more momentum and followers, I recommend that anyone starting out does this from the offset.
Here is the thumbnail of my daily journal and I just change the day, each day I post it…
I’ll will pass you over the the capable hands of @valorforfreedom to explain how to do this.
STEEM SCHOOL EP 2 – HOW TO PERFECTLY FORMAT
YOUR STEEM POST!
Steem School EP 10 – Branding on Steem & How That
Increases Your Profits!
- ALWAYS ORIGINALcontent (you can use public domain pictures, but always make sure that you include the source just for them)
- NEVERjust a standalone picture or MEME, or even poem, make sure that you write at least an additional 300 words to give your post more value. A good guide would be always to aim for 500 words of content.
- STAY AWAYfrom drama and Steemit politics, as getting in the middle of those can harm your earnings
- POST EVERYDAY without fail. NO EXCUSES
- DO NOT use STEEMIT for MARKETING or salesletters, it is for good quality content and if you do this, you will be flagged or downvoted, which means you willlose your hard earned SBD
And this great piece of advice:
You are Not Entitled to an Audience You Need to Earn it by @themarkymark
I know this goes without saying to the majority of people, but there is a lot of people who do it on Steemit…
NEVER Plagiarize, always credit where credit is due.
When you quote someone, source it, cite it.
If you use photos, I’d recommend using public domain picture like Pixabay or Unsplash, or you can do an advanced Google Image search:
@Cheetah and @Steemcleaners are always on the lookout for plagiarized content and people know that these are the goto guys if there any concerns about content.
Let’s Go Post a Post…
So now we know the tips and tricks to creating a good post on Steemit, let’s put it into action.
You may now press the “POST” button.
So, when we hit post we can see that there is a space for the title, in this case it is “Getting Ideas for Kids Stories”, so you just enter that in.
The editor part is towrite your story, the main content – for this we need to use Markdown, as we have talked about,
And Tags, here we add the most appropriate tags for your post.
To find out the most appropriate tags to use, we can look at what the most popular ones by looking at the feed on our Steemit profiles:
And if we scroll down to the bottom these tags…
And click on “view all tags”, you can see all the tags that have been used and how much SBD has been rewarded for each category. It might also give you some more ideas on what to write about.
When you have selected five…
The most important thing you need to think about is the what to use as the first tag as this is what category Steemit will store your post under.The first tag cannot be changed, so be really careful with typos and things, although it’s not the end of the world if it happens, just you won’t get as many eyeballs.
The other four tags can be edited once the post has gone live.
My last post had these tags…
As you can see there are no capitals and no commas, it is just the tag, a space, then the next tag.
The fabtag is one I have made up for my daily self improvement FAB journal. I’ve not done it from the very beginning now.
Here is some wise advice from Philip again about tags:
Okay so now what do we do?
Comment and Reply
The other type of content creation you can do is commenting. When you first start out on Steemit you can often make more money on commenting on other people’s posts. Often if you leave thoughtful posts that shows you have read the content on the post that you have just read, the author may give give your comment a vote.
You will also want to reply to all the ‘decent’ comments on your posts too. I tend to ignore the ones that “Nice post” or “upvote me”, as replying to them just encourages more. Reply to comments that show people have obviously read your content.
You essentially can paid for chatting, interacting and showing a genuine interest in another person’s post.
Here is another post from the Steem School, that will help you keep on track with your comments:
You have 10 votes at your disposal a day, before you eat into your Vote Power, so don’t get vote happy and stick to 10 upvotes a day, but you can comment on as many posts as you like, as people begin to recognize your name and check out your posts and if they are nicely formatted, you are more likely to grab attention and make a new fan.
The Not so Secret to Networking With Other Steemians
For six months I didn’t take advantage of the networking opportunities that doesn’t take place on Steemit. Sure you can have comment conversations with people, but it is done in a public place on the blockchain, where the conversation will be recorded forever.
I didn’t even know there were communities off the grid. It was then I found communities of people wanting to talk, chat and develop friendships with. I found most of the people that I had had ‘comment’ chats with were all here on different Discord groups and I got the opportunity to know them better.
Discord was originally set up as a place for gamers to chat to one another, but Steemit has jumped on board and created many Steemit related groups, where Steemians can get together and mingle and get to know each other.
It is simple to sign up to the website and I will link to a list of potential groups you’d might like to join in a moment.
I started discovering new Steemit strategies that I could use.
Some groups I didn’t like, but I liked the smaller comfy discord groups with regular familiar names. Finding groups that interest you and that you fit into is important. A lot of the groups have promotion post boards, where you can post your links, but you must always check the rules before you do, as some will ask that you upvote and comment on other content, or something else along that nature.
So yes, Discord is a great is great tool for getting noticed and making friends.
Here is a list of 50 discord servers.
I’d say pick a maximum of 3 discord servers to be active in, as you don’t want to stretch yourself too thin.
The Process of Turning STEEM DOLLARS into CASH in YOUR HANDS
When you make your first few SBD (STEEM DOLLARS), you are going to want to hold the cash and see it in your hands, before you spend it, just for the thrill of it, if nothing else!
For this we need to convert STEEM DOLLARS into BITCOIN.
The best option I know for this at the moment (but please be aware the fees can vary) is to go to https://www.blocktrades.us/
For the purposes of this report and to show you the process, I am taking out 100 SBD to convert into EUROs in my case as that is the area I live in.
So in the Send section I have selected Steem Dollar And in the Recieve section I have selected Bitcoin
I will be transferring this amount out to Coincorner.com, where I can convert BITCOIN into EUROs. I would suggest that Coinbase is exchange where you could do this, if you in the US, but do a little research in your area to find out the best way to change BITCOIN into your local currency.
It is likely your will need two forms of identification like a driving license, passport, or photo identification and an ‘official’ letter as proof of your address to get a bitcoin wallet where you can exchange it into a fiat currency.
(If you unsure about how to get a bitcoin address, then Google “how to get a bitcoin address” and there will be plenty of resources to help you.)
So I need to find my bitcoin address from my CoinCorner account to put on the Blocktrades website…
And now I need to press the deposit address.
This will put the details into STEEM CONNECT to start the conversion process…
I select Transfer Using SteemConnect
Press continueto confirm that I’d like to carry out this transaction.
Thensign intoyour account using the ACTIVE key:
And then you will get a confirmation:
Then you wait for the bitcoin to appear in your bitcoin wallet…
Then exchange to Euros (in my case)
Enter how much Bitcoin that would like to sell into your currency (you might to wait to get the best exchange rate that you can)…
Here are my Euros
Now I want those Euros in my bank account…
In one working day, the money in my bank.
It won’t be long before you you will be doing the same, if you post two posts a day…
In this report, you have everything that I have done to achieve success in Steemit. It really is about being persistent and keeping on posting consistently, as long as your content is quality and its well formatted so it is easy to read, you will start to see successes that will build up.
Commenting on other people work and posting your own posts, make some new friends and have some fun at the same time.
It certainly beats working 9 to 5 and anyone in the world can get on Steemit and start to build their dreams too.
Make sure that you sign up for an account today and I will see you on the other side,
You are now armed with the knowledge to take action and change your life right now. Go now. NO EXCUSES.
Blockchain– a public ledger of electronically-verifiable transactions.
Steemit.com– The gateway to the STEEM blockchain developed and maintained by Steemit, Inc.
Master Key– The master password, or private owner key, is given to you when registering for your Steemit account. It should never be lost or shared. This password cannot be recovered if lost, so it is advised that users keep it offline in a safe, secure location. This password may be used to login to Steemit.com and authorize transactions and witness votes, but it is strongly advised that the master password never be used online after logging in to Steemit.com the first time.
Navigating to the Permissions tab in the Wallet portion of your Steemit profile allows you to access the other keys for your account. There are both private and public keys, and the private keys should never be shared with untrustworthy users or services.
Posting Key– The private posting key should be used to login to your account on Steemit.com instead of the master password. It also gives authorization to perform post related actions on your Steemit account such as voting, sharing blogs, and commenting.
Active Key– Gives authorization to make account-related changes like exchanging tokens on the internal market, voting for witnesses, and updating your profile. It should not be shared or given to untrustworthy services or users.
Owner Key– The public key associated with your master password
Memo Key– Currently unused, but may be reserved for a future memo purpose.
All keys public and private should be copied and stored offline in case it becomes necessary to recover your account.
STEEM– the digital currency issued as rewards from the STEEM blockchain. A liquid currency like bitcoin, ethereum, or litecoin, STEEM may be sent among accounts on Steemit.com or exchanged for other cryptocurrencies by sending it to an external exchange. STEEM may also be “powered up” into STEEM Power.
STEEM Power (SP): Tokens equivalent in value to one STEEM, but are representative of a user’s stake in the Steemit platform. Unlike STEEM, SP is not liquid and requires “powering down,” a process which takes 13 weeks in order to convert it back to STEEM. The amount of STEEM Power a user has in his or her account determines the value of the votes that may be given by said user’s account. Rewards from posts are paid out either entirely in SP or a 50/50 split between SP and Steem-backed dollars.
STEEM Power may also be represented as a unit called VESTS.
1,000,000 VESTS is approximately equal to 500 SP.
Powering Up– the instantaneous process of converting STEEM to STEEM Power. May be done on the Wallet screen of a user’s Steemit profile.
Powering Down– the process of converting STEEM Power to STEEM. Once an amount is chosen for powering down, it will be paid out in 13 payments over the next 13 weeks.
Steem-backed dollars (SBD)– A liquid cryptocurrency intended to be worth about one US dollar. Rewards from posts may be paid out in SBD. These may be exchanged for STEEM on the internal exchange or by sending them to external exchanges.
Internal Market- The exchange within Steemit where users may exchange SBD for STEEM or vice versa.
Bittrex– an external digital currency exchange that lists STEEM. Users may send STEEM to Bittrex and then convert it to other digital currencies.
Blocktrades– A Steemit whale, but also a service that may be used to convert STEEM directly to several other digital tokens without the need of an exchange. Visit https://blocktrades.us for more information.
Voting Power– a value from 0 to 100% which affects the value of a user’s vote. One full upvote given by a user depletes voting power by 2%. Voting power recovers at a rate of 20% every 24 hours. The amount of rewards given by a user via an upvote decreases as voting power decreases. A user’s current voting power may be viewed at any time on Steemd.com, SteemWorld.org, or SteemNow.com.
Voting Percentage and Slider-Becomes available to all users on Steemit once the account possesses around 500 SP. A voting slider will appear after clicking the upvote button, which allows a user to vote at other percentages other than 100% (all votes given by accounts without sliders are at 100%). Smaller percentage votes with the voting slider give smaller rewards to posts and deplete voting percentage at a slower rate.
Posting– the act of sharing a blog on the STEEM blockchain Tags- categories related to your post’s topics. Steemit may be filtered by tags. You’ll see a list of the most popular tags on the home page of Steemit.com
Rewards- the direct payout of STEEM or SBD to a user’s account based on the amount of votes (up or down) they have received from other users.
Upvote– the method by which a user adds value to a post on Steemit. Upvotes are given at the bottom of each post. The value of a user’s update depends directly on the user’s STEEM Power, voting power, and voting percentage.
Flagging– the method of using your voting power to reduce the rewards on a post based on your opinion that the content is inappropriate. Steemit, Inc. provides the following guidelines for flagging:
Flagging a post can remove rewards and make this material less visible. Some common reasons to flag:
- Disagreement on rewards
- Fraud or Plagiarism
- Hate Speech or Internet Trolling
- Intentional miss-categorized content or Spam
Downvote– technically the same thing as a flag. Since flagging results in a decrease in the rewards for the post, flags are often considered downvotes since it is the opposite of an upvote.
Post payout preference– the method by which rewards are paid out to a user’s account. When sharing a post, one may select to receive payout in 100% STEEM power, 50% SP/50% SBD, or no payout at all. This is selected at the bottom of the screen when sharing a new post.
Post payouts– The rewards from a post are split between the author and the curators 75%/25%, respectively.
Author– the user who originally submits the post
Curators– users who vote on or resteem another user’s post. This is the definition as it relates to the STEEM blockchain rewards. Curators may also be used to describe users who dedicate their blogs to promoting the works of others. It may also be used to describe someone who seeks out quality work from other users and submits it to various curation efforts across Steemit.
Reputation– A number used to measure a user’s notoriety on Steemit. Each user has a reputation score beside their name wherever it appears on Steemit, i.e. on their profiles and beside their names on blogs and comments. The exact method for increasing this number is unknown, but the number increases based on the amount of votes received, the amount of posts shared, and the amount of comments given. Reputation may also decrease if a user gets downvoted or flagged.
Resteem– an action that may be taken by a user to display a post by another user on their own feed. Resteeming is permanent.
Steemit “ranks”- arbitrary categories generated by the community to categorize users based on their stakes in the platform. The categories are fluid, but the current consensus is as follows:
Plankton– A brand new user possessing less than 1,000,000 VESTS
Minnow– Users possessing between 1,000,000 and 10,000,000 VESTS
Dolphin– Users with 10,000,000 to 1,000,000,000 VESTS
Whale– Users with >1,000,000,000 VESTS. Many of these users were early adopters on the platform and hold very large stakes in the platform.
Witness– A user or community which runs dedicated servers that are responsible for processing the blocks of the STEEM blockchain and maintaining up-to-date price feeds. Each user may vote for up to 30 witnesses. Votes may be cast at https://steemit.com/~witnesses
Hot Post– Posts that appear on the Hot page of Steemit (https://steemit.com/hot) are posts that have received large amounts of attention (votes and comments) over the past few hours.
Trending Post– Posts that appear on the Trending page of Steemit (https://steemit.com/trending) are posts that have received very large amounts of attention over the past few days.
Promoted Post– At the bottom of each Steemit post, users may choose to promote their posts by paying an amount in SBD. This promotion cost will move the selected post up the list of promoted posts (https://steemit.com/promoted), which appear alongside the trending and hot links in the home title bar of Steemit.com.
Voting bot– A Steemit account that accepts STEEM or SBD to upvote or resteem your post. These have many forms including simple pay for upvote bots and bidding bots.
Minnowbooster– an example of a paid upvote service that anyone may use.
Markdown-a type of coding typically used on GitHub, it’s the default code accepted by the new post field on Steemit.com. Check out the Markdown Styling Guide for more information.
Cheetah and Steemcleaners– Two accounts on Steemit that are dedicated to fighting plagiarized content and promoting originality.
Steemit.chat– an unofficial chat platform to interact with other Steemit users. https://steemit.chat
Discord-a popular chat service for gaming that has become a home to many communities on Steemit.