Dear All steemians,As you can see I have joined steemit in month of june,I am continuously doing courses and reading articles as want to clear on basics of steemit,those who are sailing with me on the same boat. These meanings of terminologies used in steemit is for like us.even though you will get contents everywhere in FAQS and videos but I found content to be confusing, time consuming, so gist of terminology here it goes …. Whatever I know in simpler way.
Steem is cryptocurrency similar to bitcoin,it is a liquid currency
Steem dollar is also liquid currency worth a dollar so every steem dollar is little more that dollar,it can be transferred and exchanged.
All the rewards of you work on steemit (like upvoting) causes Steem Power(SP) and SBD ( Steem Back dollars)both these can be converted into steem,but for new begginers it is better to keep it in the form of steem power To become a whale you need steem power ,it can only be withdrawnafter 2 years but steem dollars can be gotten after a week..Better to build steem power.
Minnows: Average ,beginners on Steemit, their votes not worth that much, slowly goes with steem power starting from 0.01
Dolphins: Invested few thousands to steem power, can give 10 cents just for their vote
Whales: These are with SP 50,000 -1,0000,000 Steam Power. They can shake the market, if you want to earn few bucks more just be first person by like their post
Resteem : is sharing of contents you find interesting it’s like retweet and share button in Facebook,(it looks like bent arrow),instead of share people give exposure by resteeming, you will earn followers rather than SBD
Voting and voting Power:want to earn steem vote on posts ,voting gives steem power then you can convert into steem Users should vote on at least 20 post per day,voting more than this in 24 hrs decrease influence on total steem power used ,sometimes don’t even get a 0.01 cents. Voting power can be checked on Steem now.com
Curation Reward: Accumulation of rewards after voting…guys please pay attention to these it depends on time when you vote. IF you vote Immediately: voter gets zero and author gets 100% After 15 min:voter gets 50% After 30 mins:voter gets 100%
Chetah is plagiarism checker robot who upvotes but please don’t be happy with its up votes it’s a warning otherwise your number (reputation beside your username) will go down Let me know anone who is having more tips for the beginners. Thank you very much for reading this! Would you upvote this post because when I get paid, you will also get a percentage of the curation rewards? Many of my fellow community members if u want to appeal to unwarranted flagging you can go to speak with someone in steemitabuse-appeals.