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RE: Could someone explain how payment works on Steemit?
Steem, and Steem Dollars are the cryptocurrency exchangable to other coins such as bitcoin. I dont know if theres a direct exchange to $ but you mkst certainly can change to bitcoin and then to $.
Steem Power is an influence token. It is non-transferable. It derermines how much your vote on steemit is worth.
100SP at 100% voting power give you a vote with weight of $0.01.
Voting power regenerates at such rate that idealy you can cast 11 100% powerful votes per 24 hour period.
That's as simple as it gets.
Thank you for your comment. What is better then for payment: 100% steem power or 50/50?
How do you exchange bitcoin to $ amounts? Is it possible to do that without too much hassle?
For the first question,
the answer seems to be 50/50.
I don't know if the issue was fixed, but when I experimented with 100 I got much lower payout than when using 50/50.
I don't know the reason, that's just what I observed.
For the second question, I don't know the answer.
I don't trade cryptos, have absolutely no experience with that.
So what do you do with the money?
What money if I may ask jokingly. Haha.
I'm not making any substantial income here to worry about that.
I'm not worried about anything. I'm just asking because I don't understand how things work.