What you have to know about steem and steemit

STEEM: steem is a block chain-based reward given or a crypto currency used to power the platform steemit which gives publishers the right to monetise content and grow community. It gives the user's the ability to create and curate content on steemit just like any other social platform (YouTube, Hacker's news, Reddit and many others. it can be said to be a liquid currency that forms part and parcel of a social media platform.
STEEMIT: steemit is a social network that is powered by block chain Technology which uses crypto currency to reward users who upload articles, images, commentary which they have posted and also reward those that help curate the best content by upvoting otherpeople's content. steemit differ from bitcoin, eutherum, because it doesn't solely depend on mining to generate new currency units and automatically distribute them to people who are writing on and engaging with the platform. Steemit is also a financial Asset that has value and is freely traded inmarkets round the global economy this makes steem the incentive behind steemit.
STEEM: steem is one of the three currencies the steemit platform offers,it's an integral part of this system, steem can be bought and sold on the open market the same way any other token, steem currently erodes at a rate of 9.6% every year due to its production which steemit do produce steem every day.
STEEM DOLLAR: steem dollar is another steemit currency which is meant to be stable, it's also known as (SMD) this is what people send to each other when they upvote posts on steemit. One steem dollar represent any amount of steem required to reach 1USD depending on the exchange rate at the open market. You can't use steem dollar out of steemit platform like steem, you have to convert the steem dollar into steem first and only then will you be able to convert your steem to bitcoin or USD. steel dollar are pegged to the U.S dollar so that when the content creator make popular content, 40-50% of their pay per post will go into their steem dollar.
STEEM POWER (sp): steem power is a token, symbolising how much influence one have on the steemit social network, since users are paid whenever they engage on the social networkplatform depending on the popularity of the content they post. If you have a lot of steem power your upvotes will count more and will award different authors steem power and steemdollar's as well. Steempower helps to determine users who have more influence especially for upvoting content on the platform, a user can power up or down his Steempower
POWER UP: means getting more steem power either by upvotes Or by buying it through steem.
POWER DOWN: means liquidating your steem power (Sp)into steem.steem power is considered " long term investment in steemit .Steem power unit gives you the opportunity to have a strong root in the system. As the system goes high so will the value of your steem unit go high.
Some steemians has said that steemit will fly to the sky and by 2021 steemit will supersede every other crypto currency. That is every steemit member dream. I thank God for Hive account@ned for this wonderful opportunity he have given to mankind by putting meal on some people table and Hive account@dimimp for his support to some people through his contest that is going on now, and Hive account@whatagek,for his just concluded marvel competition, Hive account@mbj for his insight in that competition.