I still don't understand the whole SBD thing and STEEM POWER in general. I have some SBD, so I convert this to STEEM and then "power up" to STEEM POWER?
I really don't understand why there's three tiers of tokens. Thanks for your post, but I don't get how to reinvest my SBD easily. (Is it the multiple steps I outlined above? How clunky...)
Still trying to wrap my head around it.
I do agree on the silly "follow for follow" and throw-away "great post, follow me" things - I really dislike it when people do that.
Even better, when someone posts a single photo with a paragraph, and then the commenter says "Great photos, I like the third one" - what? These have to be auto-comment bots or something. Or they're functionally blind. Who knows.
great questions.
STEEM Power is like "vesting" into the Steemit and it takes 13 weeks to pull it all out. You get paid 1/13th each week for 13 weeks when you power down. Your STEEM Power dictates your voting power and your curation rewards. The higher it is, the more you make on commenting replying and upvoting.
SBD is made to hover around the price of a USD. It is a token that is tradable. My suggestion is to you blocktrades.us to convert your SBD to what you want. I convert most of mine directly to STEEM Power using blocktrades and it is almost instantly added to my STEEM Power. Occasionally I will use blocktrades to turn SBD to BTC and store it in my longterm wallet if the price of STEEM is high waiting for the right time to buy back in when low. Then I use Blocktrades to convert it and put it in my steemit account.
I may seem clunky and I thought the same thing at first, but it is actually brilliant and helps keep steem saved and out of the market while by vesting it. It actually helps keep the value higher.
Thank you, as a follow-up question if you have the time - can I just convert SBD to STEEM Power without using an exchange? I only ask because there's an option to convert SBD to Steem, which then I could "power up" from?
Thank you again for taking the time to answer these queries.