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Steem - Steemit Forum / STEEM, STEEM Backed Dollars, BLURT, Hive and Hive Backed Dollars
« on: November 28, 2020, 01:19:31 AM »
I am going to explain this so everyone can understand how they can earn good money in the Steemit Ecosystem, I do this so that the STEEM Currency and those around it become worth more and we all benefit more in the long run.
First, there are market Trading Bots like Hummingbot, everyone should use these.
Then, you can become a STEEM, HIVE or BLURT Witness to earn lots of Crypto. And if you promise to help others and fulfill those promises, you will get more votes, you will mine more, those voting for you will have more weight, and you will have a community in which to either create your own Crypto or help those involved.
So first, STEEM is the Basic Minable Currency of the Steemit Blockchain, the Witnesses are Voted on and they get the most, maybe a few hundred sometimes thousands of dollars a day depending on the price of STEEM. A good percentage of Coins mined are automatically distributed to fund the voting system.
STEEM Backed Dollars are a Currency roughly pegged at a Dollar, but when SBD go up to $1.50 or $2.00 then the Dollar value of your Posts goes up. You can cash out SBD you earn at the $1.50 or $2.00 rate but the system pays them to you reading them as $1.00, but when the price is up the system inflates SBD and pays out more SBD and less STEEM, to get the price back down. And when SBD is $0.50 everyone hurts because their posts pay out less, so then the system pays out less SBD and more STEEM.
So when you can buy other people's SBD at $0.50 or so, do that, because they will be $1.00 again.
Use STEEM earned as SP. Convert as much as you can.
When SBD is above $1.00 you can sell it and Buy BLURT which is the BLURT Blog version of STEEM, and HIVE, which is the Hive version of STEEM. You can then start earning on those platforms and benefit when the price goes up, and when those do go up you can sell them and use them to buy STEEM.
Then there is Steem-Engine and Hive-Engine, if you go to those platforms and invest your STEEM or HIVE, you can get the Engine Tokens, ENG on Steem-Engine and I think BEE on Hive. You can then create a Token that rewards and community and a Curation Trail or a hashtag and a Curation Trail.
Or you can make a DTube Clone Scot Bot.
So using all of this together, you can get much higher earnings on STEEM and we can all benefit.
The way this raises the price is because if 50,000 people do this and each lock up 100 SP, that is 5,000,000 SP locked up not sitting for sale on the market. The more that gets locked up, the rarer it gets, then this also affects the SBD/STEEM equation where you can buy up cheap SBD, and same with HBD.
First, there are market Trading Bots like Hummingbot, everyone should use these.
Then, you can become a STEEM, HIVE or BLURT Witness to earn lots of Crypto. And if you promise to help others and fulfill those promises, you will get more votes, you will mine more, those voting for you will have more weight, and you will have a community in which to either create your own Crypto or help those involved.
So first, STEEM is the Basic Minable Currency of the Steemit Blockchain, the Witnesses are Voted on and they get the most, maybe a few hundred sometimes thousands of dollars a day depending on the price of STEEM. A good percentage of Coins mined are automatically distributed to fund the voting system.
STEEM Backed Dollars are a Currency roughly pegged at a Dollar, but when SBD go up to $1.50 or $2.00 then the Dollar value of your Posts goes up. You can cash out SBD you earn at the $1.50 or $2.00 rate but the system pays them to you reading them as $1.00, but when the price is up the system inflates SBD and pays out more SBD and less STEEM, to get the price back down. And when SBD is $0.50 everyone hurts because their posts pay out less, so then the system pays out less SBD and more STEEM.
So when you can buy other people's SBD at $0.50 or so, do that, because they will be $1.00 again.
Use STEEM earned as SP. Convert as much as you can.
When SBD is above $1.00 you can sell it and Buy BLURT which is the BLURT Blog version of STEEM, and HIVE, which is the Hive version of STEEM. You can then start earning on those platforms and benefit when the price goes up, and when those do go up you can sell them and use them to buy STEEM.
Then there is Steem-Engine and Hive-Engine, if you go to those platforms and invest your STEEM or HIVE, you can get the Engine Tokens, ENG on Steem-Engine and I think BEE on Hive. You can then create a Token that rewards and community and a Curation Trail or a hashtag and a Curation Trail.
Or you can make a DTube Clone Scot Bot.
So using all of this together, you can get much higher earnings on STEEM and we can all benefit.
The way this raises the price is because if 50,000 people do this and each lock up 100 SP, that is 5,000,000 SP locked up not sitting for sale on the market. The more that gets locked up, the rarer it gets, then this also affects the SBD/STEEM equation where you can buy up cheap SBD, and same with HBD.