In the last post, I introduced about Steem, Steem Power, Steem Backed Dollar and Voting Power. Now, let’s continue and explore other areas of Steemit.
In Steemit, Followers are similar to that in Facebook. They are your fellow steemians who likes your content and are your supporters. Your posts will appear in their Feed and if they like what you posted, they might give you an Upvote.
However, from experience, having a high Followers will not guarantee a high Upvote or earnings for your posts. This is because, similar to Facebook, most of your followers are not active, or they are simply bots. As steemit is open source and supports usage of API, there are thousands of bots out there. One of the use of bots is to auto follow you. Therefore, please do not be discourage if you see yourself getting very little Upvotes despite having many followers
Concept of Resteem is easy to understand. It is the same as Share in Facebook
As a Social Blogging platform, Steemit is all about networking and engaging with other users. Commenting on others posts is perhaps the most vital skill you should learn. Similarly, replying to a comment is equally important. This keeps you sociable and engaging and users will more likely continue to support you
And now, let’s talk about what you are most interested in. How To Earn.
As discussed in previous post, each Upvotes from your supporter contributes to your post’s earnings. From the time you created the post, it takes exactly 7 days before the earnings are finalized and payout to your wallet. Take note that after 7 days, any further Upvotes will not contribute to your post’s earnings anymore.
The payout has 2 components, namely;
- Author’s reward
- 75% of the earnings belong to you, the author
- 25% of the earnings will be shared among all those who had Upvoted you, the curators
There are 2 types of payout options available;
- 100% SP
- In this mode, all your earnings are paid in SP. Eg, if your post’s earning is $10, $7.50 (75%) will be paid to you. The formula for SP conversion is 7.50 / Feedprice. Feedprice is the price of Steem coin within the Steem network, following a 3.5 moving average of the market, ie exchanges. Therefore, if the price of Steem is USD$3, you will receive 2.5SP as reward.
- In this mode, half of your earnings are paid in SBD, and the other half in SP. Using the example above, this time you will receive 3.75SBD and 1.25SP
Formula is: 7.50 / 2 = 3.75SBD and (7.5 / 2) / 3 = 1.25SP
When SBD price is above USD$1, it is always advisable to choose the 50%/50% mode, as this results in a higher earning.
Questions? Drop me a comment and I will try my best to answer.