People keep asking me Greg, so how does Steemit work?
How can you earn by just joining and posting?
Well here is a nice simple perspective.
The easiest way to understand how Steemit works is to think of it this way.
Steemit should be thought of as company in which when you join, you become a "shareholder."
As a shareholder in Steemit, you are rewarded with Steem Dollars and Steem Power, (these are liquid assets which can be exchanged for Bitcoin and further exchanged for Dollars, Euros, etc). Steem Dollars and Steem Power are rewards for your investment in the company, just like any publicly traded company. (Again these are liquid assets).
The more you invest in the company, in the form of content/posts/time, the more you earn.
It is the same as holding shares of stock in company XYZ.
Steemit rewards you even further by incentivizing it's members to keep their investment within the company, thus helping it grow. Again just like Apple, Microsoft, Walmart, etc.
The more your Steem Power grows, the more you will earn.
Moreover, the more Steem Power you gain, the more you can help others earn by upvoting on good content.
In summary: being a member of Steemit is the same as being a shareholder in a publicly traded company where you earn for your investment (content/posts/time) in the company. Moreover, the greater your stake in the company, as your channel grows, the more you can help new "investors" by upvoting on their content.
It is really that simple.
Gregory Mannarino
His explanation of it makes it so easy to understand. I'm having a lot of trouble convincing friends of mine that Steemit is legit. These words are very helpful, thanks!
Agreed! I've found some of the blogs on what Steemit is to be a bit 'woolly'....
not all wisdom from the street will be good
true, but Greg is reliable!
Congratulations @marketreport!
Your post was mentioned in my hit parade in the following category:
Great presentation Greg. I like his KISS formula. Keep it Short & Simple!
I bet he's just fishing for KISSes, hey? Hahahaha! :)
Short, simple and to the point as always Greg. Very well explained.
Absolutely right Greg that's why I followed your advice and joined. I just passed 25 followers in 5 days and just wrote a post with all proceeds going to SP to power me up higher so I can then return the favor. It really is that simple.
Thank you for explaining it as a "Share."
Very thorough explanation. Keep Steeming On my friend!
You are awesome.
Gregory,
Thanks for the clear explanations of how this all works.
As you said above:
"The more your Steem Power grows, the more you will earn.
Moreover, the more Steem Power you gain, the more you can help others earn by upvoting on good content."
Can you say anything more about how to generate Steam Power? I'm still not clear on that side of things.
Thanks,
--Bill
I need help there too
cool, thank you for continuing to post on how steemit works. very helpful! If any of you reading this enjoy photography and other topics please have a look at my posts and follow me. Thanks!
I am trying. Please share it.
Cool stuff. Hope i will do it like you
Once again you are the Man! Taking the time to explain it to us. I join because of you and I thankful for the info you post! DR
Short, simple and to the point as always Greg. Very well explained.
Ah ha! More helpful info! Thanks again for keeping us in the know. Enjoying this site very much by the way!
Great summary. You are always looking to inform others in the simplest way possible. Much appreciates.
Keep them coming!
Very interesting way of seeing it... I like it... I am
a shareholder to a company... Oooh Yeah 👍🏾👍🏾
Thanks for saying that.
No problem. I appreciate all your videos and post. I've been watching you on youtube since I believe
in 2011. I agree with most of the info you share like 98% of it. Keep up the good... Gregory Mannarino "For The People" 😁
Greg is so genuine in his execution of things...he is passionate about helping his fellow human. We listen to him daily. Thank you Gregory Mannarino!
If you knew him a couple years ealier you'd learn how to make big on blackjack. Each decade it's virtue I like the 2017 Mannarino! :)
excellent as always.
Good and simple explanation that how it works. I think it will be stimulate newbies to be more active users.
Thank you Greg for this clear & concise introduction to Steemit. I just listened to your interview on the X22 Report Spotlight and gained even more insight from that interview about cryptos & how Bitcoin is not in a "bubble" because it is not widely held. I had never heard that description before but it made perfect sense. Thank you for waking up my brain cells, I may have even more than one functioning brain cell now.
After following you for years now, I am posting my first comment to get my first dollar :)
Thank you for the explination. Very helpful
You're the man Greg!
Thanks for the very clear explanation. Very helpful, as always.
It is a lot like that and the witnesses (miners) are like board of directors. Pay attention to witness updates they are gonna tell you what's happening behind the scenes and what's coming next.
Nice post.
Simple explanation. It doesn't cost you anything to participate so why not participate.
Thanks for the explanation and comparison to a shareholder in a traded stock company. I wish there were others in the city that I live in who I could talk with about Steemit. I feel like I am the only one out there in my town.
Just wow marketing 101 so much to learn dang
Hi Greg! I don't have a bitcoin account, but is it possible to use Steem like bitcoin? Can you turn your Steem into $ or you have to go bitcoin first?
Can you get Steem for $ ? ....
Thanks Greg! Full Steem ahead!!
Thanks for giving a clearer understanding of how steemit works.
Thank you and very helpful!
Simple explanation! I got into Steemit after hearing about it from you. Thank you Greg!
Great little article. So glad you ventured over this way! Inspiring to see the community grow~
Thanks Gregory. God bless.
Greg, thanks for explaining this. I have been signed up for a long time, but I forgot about it. I hope it draws traffic to my websites. I'm struggling to post pictures with my "Submit a Story." I guess it's a learning curve....I'll get there. My website for respiratory therapists, smithseminars.com, is so unique that I don't know how much traffic will be generated. My website shopmyplexus.com/debharr is for everyone and I hope it generates traffic so my can build my team for my retirement objectives to be met. Thanks again for the help.
I like the way you explain things/ make it easy to understand. That was the very reason i subscribed to you on youtube and now again on steemit. Love it, keep up the great work man.
Thank you Greg
Very well explained. Let's wake up everyone. People need to understand how easy this is, so this one is also tweeted.
Thank you.
Disclaimer: I am just a bot trying to be helpful.
Hey Gregory! Been following you for awhile on youtube, keep up the good work!
Well said Gregory! I also just finished my introductory post here...
https://steemit.com/dumb/@buckethats/they-trust-me-dumb-fu--s
Thanks Greg, I have shared it on my facebook page as i couldn't explain it to friends
Helpful as always.
Greg.... i finally got on here and plan to start some good conversations on here. Ive listened to 1000s of hours of podcasts from many in your circle as well as every video you produced for the past 3 years.
That is a hardcore greg fandom there.
He has been pretty accurate everytime and seems to try and help everyone. Yeah im a GM junkie lol.
Thanks Gregory for all your work, account was approved today! Like 1 minute AGO!!! :D
When is greg hunter and dave going to come on here greg? Im going to talk to few people to get them on here. Happy mothers day hope all is well Greg
That all makes sense, but the missing piece for me is "yes, but where does Steem get its money?"
Have you seen this? Click here: https://steemit.com/steemit/@marketreport/how-can-you-earn-by-simply-joining-and-posting-on-steemit-by-gregory-mannarino
Had to share this one on the old FB. Thanks for breaking everything down like only few can great work
Thank you!!
Awesome explanation Greg, thank you for sharing! It makes sense from the way you described it, in shareholder and investing perspective! :) Thumbs up
I appreciate you saying that!
No problem Greg @marketreport ...your way of thinking and analysis about economic news and investing are simple and clear, it's well appreciated by all who follow you and so do I :) Looking forward to more of your posts~
Thanks for explaining Greg!
Anytime.
Thanks Greg Great Explanation
You are very welcome.
Amazing platform for your work! Nice to see you here! :)
Glad to be here. Thank you!