I have been making posts for the past week about starting up on Steemit. Many new users have reached out to me in the comment section mentioning they do not understand some of the terms used.
Today I have created a quick glossary of all the Steemit term you need to know! I have chosen the top 20 most useful words in Steemit, so you can understand what everyone is saying.
The 20 words
[1] - STEEM
STEEM is the cryptocurrency created by Dan and Ned; users utilize the currency on this platform Steemit. STEEM is very versatile, it can be sent to an exchange anytime and turned into Bitcoin and then cashed out. STEEM can also be transferred into SP immediately to power up your account, or it can be traded to steem dollars.
[2] - SP
SP stands for Steem Power; this is the heart of your account. Without a heart, the body is useless, similar with Steem power, without SP your account is useless.
Steem power gives power to your account to strengthen the up-vote rewards, so the higher the SP, the more your up-vote is worth. When you have steem power and want to power down and take it out, the waiting duration is 3.5 months, so it is not versatile.
[3] - SBD
SBD stands for Steem dollars; this is the most useful coin to have. Whenever you have a post, you want to promote you utilize steem dollars to pay for the promotion. If you need a post up-voted by @MinnowBooster you use steem dollars by transferring it to them.
[4] - Minnow
A minnow refers to a new user who has just joined and is relatively small in wallet value and low in reputation. The general population of Steemit consists of minnows, just like in the ocean, most of it is small fish.
[5] - Dolphin
A dolphin is a user who has been working hard and has a mid-range level of recognition and steem power. They usually have a mid-size following of a few thousand. They have got into the habit of posting daily and have followers who are starting to tune in regularly.
[6] - Whale
A whale is a user whose wallet is relatively loaded with money and has over 10,000 followers or in that range. They are few in number and rare to find, although when found they stick out from the others and cannot be missed, just like in the ocean.
[7] - RP
RP stands for reputation, and it is the number beside your username at the top. The higher the reputation number is, the more trustworthy you are to the community. This figure rises by up-vote from other users.
[8] - Resteem
A resteem is similar to a retweet; a user likes a post they saw you wrote and decided to resteem it. When a post is resteemed, the user's fans can see that post in their home feed.
[9] - Up-vote
An up-vote is a "like" similar to Facebook or Youtube; the main difference is each up-vote make you money. Weaker accounts have an up-vote worth a cent and mighty whales can vote $30 and even more.
[10] - Curation
Whenever a person up-votes a post, their up-vote money will be split with the author at least 50%. The other 50% of the money is divided with the author and up-voters. So if your up-vote is worth $1.00 and you up-voted on a post, the author receives at least 50% of that, so they get 0.50. The other 50% is split with all of the up-voters and author, so the author gets another 0.25, and the other 0.25 goes to the up-voters split.
[11] - Tags
Tags are topics in your post that will organize it in the according to sections. So if your post is about making money through blogging, your tags will be "money, writing, and blogging." Refrain from using tags that have nothing to do with your post.
[12] - Author Reward
An author reward is a reward you receive from your post, so when your blog makes $10, you will get that money as authors compensation because of your post you wrote.
[13] - Collaboration
Collaboration is widespread in the social media world but uncommon on Steemit. Collaboration is when two different users get together and work on a video or post together and share it with their fans to get a larger outreach.
[14] - Auto Up-vote
There is a tool you can use on steemit that allow you to up-vote a post made by a particular user as soon as they post it. The bot will go and up-vote the post right away; this is good for being the early bird for curation rewards.
[15] - Witness
A rundown of what a witness is, they are users who are voted by the community to set up a server to run for 24 hours 7 days a week for 365 days a year. Their servers confirm blocks that have been mined, and they receive 1SP per block confirmed.
The users who are voted through the community of usually those users who have helped out the platform grow and other users. Nobody beats @Jerrybanfield at helping this platform grow, I have cast my vote for him and you should too if you feel he deserves it also.
To understand more about witnesses read this: https://steemit.com/steemit-guides/@pfunk/a-full-steemit-user-s-guide-to-steem-witnesses
VOTE:
[16] - Hot Post
A hot post is a blog that has been posted recently and is gaining traction quickly, many people are up-voting and commenting on it. The blog will be shown in the "hot" tab.
[17] - Trending Post
A trending post is mainly a post that has gone viral in the past few days; they are posts that have hundreds of up-votes and comments. The blog will be displayed in the trending tab.
[18] - Payout
A payout is pretty much your paycheck; you will be paid. A payout can be from curation as well.
[19] - Steemian
A Steemian is just a person who uses steemit, just like an individual who posts on YouTube is called a YouTuber.
[20] - Troll
A troll is a person who posts negative comments or harasses other users for their pleasure.
Understanding
Now all your new users can understand all the Steemit lingo being thrown around, hopefully, you will never be lost again in a post. Every time you see these terms, I will pop into your mind and you will remember this article! I hope you enjoyed this article don't forget to resteem to help others learn too!
