what is Steem, Steem power, Steem Dollars, voting power and reputation level?
Steem - Steem is the first currency among the above three. It is being traded in several exchanges with USD/USDT/BTC/ETH. It can be bought and liquidated easily. Steem quantity is getting double every year by mining. so steem price may go down due to oversupply.
Steem Power - It can't be traded in exchange. it can be earned though content creation or curation (like up-voting and comment) on other author content in Steemit website. Steem power can be increased by using Steem in Steemit website with powering up option. Steem power will be liquidated by powering down. It will be liquidated in equal instalment of 13 weeks. We can cancel power down option any week in between. So Steem power is less liquid. It will give influencing power to steemit author and curator. Steem power will generate interest upto 90% per annum.
Steem Dollars - Steem Dollar are pegged with USD and trying to keep value near to 1 USD. Steemit is paying 50% steem power and 50% steem dollar by default for curation and author reward. we can change to 100% steem power in the settings. It can be traded in any exchange and can be liquidated any time. Steemit will give 10% per annum interest on our steem dollars quantity. So it is taking care of inflation.
Voting Power - Every new users will have 100% voting power. We will consume 2% voting power for doing 1 upvote on any content. System is generating 20% voting power every day. So if we will do 10 upvotes daily. our voting power will remain same at the end of the day. voting power will decide your upvote worth to the content writer.
example - voting power - 100%, Upvote will generate 4 cents (assuemed as it depends on reputation score, steem power) to content writer. then at 50% voting power, upvote will generate 2 cents to content writer. At 25% voting power, it will generate 1 cents only. Keep your voting power high to give and get maximum benefit of earning during steemit. We can see voting power in Steemnow.com.
Reputation score - It will be calculated as per your content, no. of upvotes received, upvoted person reputation score. It is not influenced by steem dollars.
