CONFUSSED ABOUT STEEM, Steeam Power, and SBD (Steem Dollars)? Yeah, we've all been there!
When I first joined @Steemit, I knew people got paid for having quality content but that was it... I saw the [Wallet] tab and that showed, "STEEM and STEEM POWER and STEEM DOLLARS SAVINGS and EASTIMATED ACCOUNT VALUE". But I had no clue what they were or how to get one from another and to be honest what the heck ANY of it mean!
Now I am pretty tech savy, but the blockchain and keeping track of the different companies and cryptocurrienes and trying to understand everything can be overwhelming to say the least! So hopefully this helps explain what and how #EACH works.
1.) What is STEEM - As stated in the [wallet], "Tradeable tokens that may be transferred anywhere at anytime." This is the same STEEM as seen on CoinMarketCap. Which means, this is a token that can be bought and sold with $BTC on Exchanges that support $STEEM. ~
2.)What is #SteemPower - As the [wallet] says, "Influence tokens which give you more control over post payouts and allow you to earn on curation rewards." Which basically your STEEM coins are invested back into the company and the curation process. The more Steem Power, the more influence you have to give/recieve on upvotes and curation.
3.) What is Steem Dollars SBD (SBD) - As stated in the [wallet], "Tokens worth about $1.00 of STEEM, currently collecting 0% APR." Which means, this as well can be bought and sold with $BTC. Now SBD is supposed to be around same value as the US dollar, $1. But, since it is on different Exchanges as well the price can fluctuate (SBD).
4.) What is Saving - As stated in the [wallet], "Balance subject to 3 day withdraw waiting period, STEEM DOLLARS currently collecting 0% APR." This actually acts like a vault. So if your login key or active key gets compromised and your STEEM or Steem Dollars SBD get transferred out of your account. The amount in your saving will not be transferred until 3 days are up. So that gives you enough time to act appropriately to get your login key back without losing everything. It's a smart security back up if you are worried about your login key getting taken. (Thank you )
5.) What is Estimated Account Value - As stated in the [wallet], "The estimated value is based on an average value of Steem in US dollars." Which means, that is the estimated amount of both STEEM and SBD. Your SBD is estimated at $1, but remember, SBD could be higher or lower. Steemit only estimates the STEEM coin into US dollars in the account value not SBD. Make sure to look again you might have higher than what you think!!!
Therefore, if you had STEEM and/or any STEEM Power you would add both them together and multiply that by the market value that is in STEEM. It then add your Steem Dollars (SBD) as if it was equal to $1.
~As an EXAMPLE lets say STEEM is at $5 and Steem Dollars (SBD) is at $6~
You have 5 STEEM and 5 Steem Power and 10 Steem Dollars (SBD) . Your estimated amount would show $60 dollars. BUT remember those 10 Steem Dollars (SBD) are actually worth $6 a piece. So the real amount is $50 worth of STEEM total and $60 worth of Steem Power(SBD) equaling a total amount of $110!
Tonight and myself are going live on the @DLive platform to go a lot more in detail into these! We look forward to seeing ya'll there! We are more then happy to answer any questions that we can.
If you miss the #stream tonight leave your question here and I will try and get to it as soon as I can!
Here's to learning and the future! #StayGreen #GattisStatus #Day24