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RE: STEEM Riches: Do SMTs Bless SP Holders With More Tokens? Could Your SP Mean More Than Just STEEM?
What I found was that there really isn't something called SP. There are VESTS and on the wallet interface the value of your VESTS is shown in SP. It's much like how reputation is reduced to a simple number while it's really a huge number like 5,352,931,561,655 (My current reputation).
Over time with more VESTS get created, the price of VESTS also increase. So your SP increases over time. Holding your STEEM in SP (AKA converting them to VESTS) is actually a way to earn tiny amounts of passive income.
That is very true @vimukthi SP is really MVests.
It is also the reason why powering down now and then powering up at a later date with the same amount of STEEM does not net the same. After 6 months, the vest rate per STEEM will have changed. The UI puts it in SP which is a bit misleading...but then again, payouts on posts arent in USD either.
Can you imagine the confusion if we started talking MVests? This place is a difficult enough transition for most newer people.
It'd be nice to make them slowly understand those things. Maybe someone could clear that up in the FAQ. When I first read about the 3 currencies, I was like "what the hell?" so maybe you could write few articles on the subject :-)
I would although that is something I saw many write...it seems to be a well covered subject....
Plus I am like you...screw the easy stuff, lets drill down into the rabbit hole....fuck researching the three currencies, lets find out about MVests. LOL
WTH is right!!! I'm less than a week in and I'm mostly lost. Participating and learning, but it's confusing
WTH is right!!! I'm less than a week in and I'm mostly lost. Participating and learning, but it's confusing
I'm one of the fast learners and considerably tech savvy. But it still took me some time. Just hang around the platform and you'll eventually figure everything out. Don't feel bad if you are confused. Many of us intially were a little confused.
Happy steeming!
Thanks. Does it glitch often? It said there was a transmission error when I initially posted this comment so I tried again. I appologize for the double comment. Thanks for being encouraging.
Few months ago there were some problems. I also had few glitches last few days. But they are not that common. We are going to be seeing several new upgrades soon. So things will get better.