What is peak.com (where you posted your other article)? Does it also work like hive.blog? Are there other sites that have a payout in the same way?
The hive blockchain, where all of this data is stored, is accessible through different interfaces being developed by different people. hive.blog is the (open source) hive team core developers while peakd is a different group who took the source code further by bringing new features to the mix. Our work can therefore be viewed in a multitude of different ways which are always being developed by new people. For now I find the peakd interface the best user experience for a desktop computer.
Also, I made a password via ecency.com. I have no idea why I had to go through another site, and what ecency is. It is all still very mysterious to me. :-)
Ecency is one of those sites I just mentioned. Don't know why hive.blog can't offer new accounts. This seems counterproductive. Still, you made it in I suppose. Though understandably confused.
Many thanks for the Reich links! This is fantastic you were able to remember and find it so easily without needing the physical book. I look forward to checking these out in a quiet moment.
(BTW, today is the anniversary of Nagasakis bombing, and my birthday... Coincidence? Nah, I don't think so...)
No such thing as coincidence in my books!
Thank you for the simple and perfect explanation! Much more understandable than the abstract FAQ. Most peculiar is the fact that I have a limited balance, so I cannot post comments and upvote whenever I want. I suppost that's the nature of the blockchain.
Ah yes, I probably should have explained that. This platform is far from simple!
So we are limited to what we can do here depending on how many resource credits (RC) we have. These are earned as HIVE (tradable crypto currency) through posting, commenting and voting curation rewards. I have been tipping your comments small amounts but perhaps not enough to make a different for you. Also you don't receive those tips till 7 days after I give them out. This mechanism is in place to stop spammers (who used to be much more common before this feature arrived). As spammers with copy/paste articles stollen directly from unquoted sources they won't get rewards (because the bots will spot their copy/past and alert the public) so they will be quickly be limited with what they can do here and must always wait for their RC to re-charge over the course of a few days before they can get back to their spamming, which will ultimately put them off the platform. Whereas the people who interact in an honest and useful way will earn more and never have a problem with RC.
The number after our username is also useful in recognising the kind of person we are dealing with. We all start on with a rep number of 25 and this goes up or down depending on votes and flags. (This is how I recognised you were new here, without any altercations.) Flags are given out by the users if we don't like what we see from a person and any existing rewards can effectively be erased if enough people don't like you. They are literally donating money (to the HIVE reward pool which gets given out every day) in order to remove money from the accounts of undesirable users. And plenty of people dedicate their time on this platform to do exactly that. The top rep number is somewhere in the 80s now. Not quite sure where we are at. But if you ever interact with someone with a rep number of less than 25 you know instantly they are not popular here for whatever reason. Whereas people over 70 you know they have been here a long time and gained a lot of love over the years.
Happy to send you some HIVE for your wallet so you won't have the RC problem in the future. I just need to power some down from my main wallet which will take 7 days...
Once you receive this in your wallet as HIVE you must 'power up' which converts it to HIVE Power, activating your RC. However, to incentivise the long holding of our primary token HIVE there is a 13 week wait to get all your HIVE back, if you should suddenly decide to sell it all for whatever reason. (Sudden price drops can have this effect on people!) The HIVE is returned to us in 13 equal instalments, converted once a week from HIVE Power back to HIVE, at which point you can send it to other people or remove it and trade it for Bitcoin or whatever.
Hive dollars are another story. Basically just our internal stable coin, pegged to the dollar. Good to convert your earnings to Hive backed dollars (HBD) during bear markets, whereas all funds should be held as HIVE or HP during bull markets. Assuming you care about making money here. I eared almost $100,000 during my first year here because I caught the parabolic end of the 2017 bull market with 10,000 HIVE in my account when 1 HIVE (which was actually called STEEM at the time, prior to a major hardfork in the blockchain) spiked in value from $0.07 to $10.
Current value around $0.30 and my experience as a trader tells me crypto bull markets come around every 4 years and the next one has already begun...
It is a good time to be a writer on this platform I would say.
Though as you can see, this place is not for the simple minded.
Which ensures the users remain to be a particular kind of person.
Oh my goodness - I'm speechless. Thank you so much for this intro! At this point, I understand only maybe half of it, but for sure I will catch up.
What is puzzling me - where does the crypto currency come from? E.g. banknotes are printed; I get money by working and earning a salary (which can be converted to cash); bitcoins are minted through solving mathematical problems. But HIVE? How do they come into existence?
Does this mean you are spending money on me so my RC go up faster?! From what I understood, RC go up anyway, just slowly over a period of a few days.
If I make a post, do I need a certain amount of RC? More text = more RC needed?