Then let's talk about the steemit's revenue mechanism and how to bring it out.
First of all, we know that by publishing original articles on this platform, we can get the "token" of the system award, that is, virtual currency.
So where does the steemit's tokens come from?
Steemit runs on a block chain called Steem (that is, a distributed computer program), which produces 800 steem per minute. So steem is the basic currency of the Steemit world and can be traded publicly in the block chain market. You can change the trade into other currencies you want, such as the dollar and the renminbi.
But some people doubt that if the system constantly generates steem, will it be devalued one day? In fact, steemit has already thought about it and has set up some rules to ensure a balance of income. In order to understand these rules, we must first understand what kinds of steemit tokens have.
Steemit's tokens are divided into three kinds: 1.Steem 2.Steem Power (SP) 3. Steem Dollar (SMD)
Steem has just said it and doesn't introduce it. Let's get to know the other two.
1: SP:
In fact, it is a measure of the size of a person's influence in the steemit, similar to the value of prestige. The more SP a person has, the more he can affect the value of other people's articles. A high SP person gives you a comment that will make your article more valuable. And the steem produced by the system, 75% per cent to the content creator, 15% to the SP holder, and 10% to the discoverer. So the holding of SP is equivalent to the shareholders.
However, SP is more troublesome. It takes about 13 weeks to fully convert it into steem, and then steem will be converted into dollars or RMB. Why is it so complicated, because Steem is going on, so there will be inflation. SP, however, can prevent inflation through instalments and ensure long-term benefits for SP holders. Similar to a kind of investment, like investing in bitcoins, a lot of steemit people tend to hold SP for a long time.
SP is so good, how to hold SP? You can go through two ways, one is through the release of original content of the article, the system will give you released bonus, the default is 50% to SP 50% will be issued, steem or SMD payment, if not in a hurry to cash, you can choose to issue 100% SP; another way is to buy steem in the chain block on the market, and then through the "Power Up" into SP.
Two: SMD:
SMD this currency is actually equivalent to the value stabilization tool of steem. How do you understand it? As we have already said, steem is the basic currency. Both SP and SMD need to be converted to steem to be able to cash it. So how much can 1 SMD be converted to steem?
Let me tell you: steem now converge to the US dollar in proportion to 1:1, that is, the 1 steem is equivalent to 1 yuan, that is, six yuan yuan, so at present, a SMD can only exchange 1 steem. So when steem devalues one day and 1steem equals $0.5, if you hold SMD, then 1 SMD can be converted to 2 steem. In the same way, when steem appreciates, your 1 SMD can only be converted to 0.5 steem. That is to say, 1 SMD can be converted into a steem equivalent to $1. With SMD, a value stabilizing tool, you don't have to worry about the devaluation of the steem you hold.
Well, I don't know, through the above explanation, do you understand that though steem is the basic currency of steemit, it is not suitable for long-term holding. It's best to turn into two currencies: SP and SMD.
And to make this clear, you get all the steem from the platform running on the block chain, no matter who is the founder of the steemit platform, any organization, even the government, can not be taken away. But if the password is lost, no one can help you find it back, so be sure to keep the password in mind!
Finally, share some of the implementation tools:
1:Bittrex.com
You can transfer the Steem and SBD that you get on the Steemit to Bittrex, and then sell them to the bitcoin.
: 2:VirWox.com
Transfer your previous bit of bitcoin from Bittrex to VirWox, then sell bitcoin to SSL, and then sell SSL for dollars.
3:LocalBitcoins
You can also sell your bitcoins directly through LocalBitcoins and change them into dollars or RMB.
(Note: LocalBitcoins is the largest private mutual bitcoin trading site, and Alipay support PayPal payment. Everyone can buy bitcoins on top of their own country's currency.)
