Step-by-step illustrated instructions for buying Bitcoin and converting it to Steem Power. There is also a great deal (disguised as a social experiment) for those new to Coinbase (at the bottom of this post).
Requirements: drivers license (or national ID card) and a credit card (step-by-step instructions for using a bank account will be posted later but most users should be able to figure it out from the credit card instructions).
Minor Diversions: I'm still a newbie and figuring out the ropes. I first posted this four days ago and just wanted to edit it before sending it to some family members. When I clicked on the update button, I got "Transaction failed: comment.last_payout == fc::time_point_sec::min(): ". Would I be correct in assuming that that means that you aren't allowed to edit posts after 12 hours? This is highly unfortunate because it means that there isn't a static URL that can point to the latest version of a document (until the devs add that capability or someone like me develops a tool . . . . :-) I'm also likely to get a comment from the ever-awesome Cheetah for plagiarizing myself (but I cited myself so it's NOT plagiarism).
That post got $0.00 love (because I didn't know how to advertise then and had no followers) so please up-vote this if you want to see more newbie's guides like this (though I'll probably keep writing them anyways for family members even if not . . . . ). Also, please do NOT flag me until I have had a chance to respond to any complaints by editing this.
Also, my wife just joined Steemit with
Please up-vote her and convince her to stay . . . . I'm thinking there's curation rewards to be had here -- not to mention the fact that it'll make it easier to get the rest of the family to join and try to compete with her.
Steem Power is exactly what you have vested in the Steem community. Since you can only cash-out ~1%/week, it is a great indicator of how much you care about the long-term health of the community. Therefore, your voting power in the community is directly related to your Steem Power (moderated by your reputation).
The base voting power of a typical newbie is currently about 1/5000th of a US dollar (you can check yours at http://steemdollar.com/dollar_per_vote.php). It will vary with the size of the community and the value of Steem, but currently (Aug 8, 2016) it can be estimated in USD by dividing your Steem Power by ~19,000. Dolphins and whales can immediately get on the trending lists merely by up-voting their own posts. My own experience indicates that you likely won't even get curation awards until you have about $100 of Steem Power.
Equally, if not more important, is the fact that curation rewards are directly proportional to your Steem Power (as a percentage of the Steem Power of all other up-voters) heavily modified by the timeliness of your vote. If you get in early before several whales hit, you can get some serious curation rewards -- again, if you have the Steem Power to take advantage of it (see https://steemit.com/steem-help/@liberosist/mind-your-votes-an-investigation-and-guide-to-maximizing-your-curation-rewards).
Powering up is easy if you've been noticed and are making bank with your posts and comments. Half your rewards are already in Steem Power and you can invest the other half by converting your Steem Dollars to Steem Power via either the internal market (immediate) or conversion (has a one week delay). If you're having trouble being noticed or wish to invest more quickly, the rest of this article is for you.
Coinbase (https://www.coinbase.com/) is one of the larger, older and user-friendlier of the crypto-currency players. They also have a great deal where you can get $110 worth of bitcoin for $100 and, if you follow our instructions, up to 9 Steem Dollars.
You will see a screen like the following (Note: an invitation is necessary to get the extra $10 of BTC and I must invite you for you to get up to 9 SBD).
The webcam on my computer is apparently not of high enough resolution to successfully complete the verification. If you have an android/iOS mobile phone or device, I would recommend using that instead. Once I switched to my iPad, I was able to complete the verification once I learned one additional RULE . . . .
My other difficulties were
The direct links for the apps are as follows: iOS Android. You shouldn't need multiple attempts if you frame correctly.
It's interesting to see the IDs for each country. Since passports are accepted from many countries, I'm surprised that they aren't implemented for the United States . . . .
Note that the standard credit card fee (plus a little more) is passed on to you . . . . ($3.75 of that $10 sign-up bonus is effectively lost here -- but wiring from you bank will generally cost around $15 so, unless you intend to buy more than $400, this is the better option and faster)
You can always reach this screen by clicking on Trade in the left menu.
Note: Bitcoin is slow to confirm transactions. This will take anywhere from ten minutes to over an hour.
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