This is a list of frequently asked questions about Build-It and the STEEM network.
About Steem
1. What is Steem?
STEEM is a social media network where anyone can earn STEEM points by posting. STEEM is designed in a way that applications can be built on top of the STEEM blockchain.
Blockchain Technology is a principled digital book of transactions that can be programmed to record transactions and precisely anything that has value. At the lowest possible level, blockchain is somewhat a chain of blocks, which entails digital information (the block) that is stored in a public database (the chain).
Benefits
- Enhanced security
- Transparency
- Decentralization
- Efficiency and speed
- Reduced costs.
The STEEM platform leverages on blockchain technology, thus, it is fully decentralized.
Steemit Inc created the code, but they are not in charge, in other words, you're in full control of your data.
No person or institution controls owns the blockchain, it has no middleman or mediator. Fully decentralized!
It's practically the exceptional nature of the Steem Blockchain that transactions are free from monetary charges
At the time of this writing, STEEM Blockchain easily process transactions in under 3 seconds
Those in charge of processing blocks of data are rewarded with newly created STEEM.
Increased Security
In the blockchain world, they are known as "keys"
They are long and alphanumeric for the sake of increased security, it's almost impossible to commit to memory, which is why it's best you just copy and paste them
The keys serve as granting AUTHORITY in a structured way where NO ONE has the authority besides yourself. Not us, not the creators of STEEM, not even the government. No one (except who you give your keys to) source
- Most importantly: Whatever you do, don’t lose them! There is no password retrieval!
- Any action you do on STEEM needs Authority to do the transaction. Including Commenting, Posting, Upvoting, Transfering Money, etc
- You can use the same keys on ANY STEEM related application: SteemPeak, Steem Monsters, PeakMonsters, Steemit, dTube, etc. There are over 70 applications where you can use your same keys
- There are different levels of keys that grant different abilities:
(a) Master key can reset all passwords
(b) Active key can transfer money
(c) Posting key can make posts and upvote posts - It is recommended you use the lowest authority key possible as a great habit (aka posting key unless you’re doing something like transferring money)
- It is highly recommended to never use the master password and keep it locked away somewhere safe. If someone stole your other keys, you can use your master password to reset your other keys (it may not matter now, but if your account is worth hundreds or thousands of dollars someday you’ll be glad you had a good practice in place.)
- Retrieving your posting or active keys can easily be done by using your master key in the browser extension called “STEEM Keychain”. source
KeyChain is a browser extension that virtually lets you log in any Steem-based website without having to re-enter your private keys all the time.
Fun fact: on build-it.io, and many others integrate KeyChain for fast and easier transactions and logins.
Manage multiple accounts in one place
Check your balances, voting mana, RC mana, transaction history, and more
Seamlessly interact with many Steem-based apps without ever having to enter your private keys.
The Economic Aspect Of Steem
- STEEM uses 2 cryptographic currencies: STEEM and Steem based dollars (SBD)
- Typically they are referred to as “TOKENS”.
- The “reward system” (detailed below) distributes new tokens each day.
- Each user has a wallet where those tokens exist… all wallets are openly viewable to all.
- These tokens can be bought and sold on 3rd party websites called exchanges. (Binance, Bittrex, Blocktrades, etc)
- Because you can exchange for currencies like the US dollar, they have a US dollar value. That value fluctuates (more info below)
- You can post content and get votes that result in tokens being earned via the “Rewards System” (More below)
- You can also buy these tokens on exchanges such as Binance, Bittrex or Blocktrades
- Just like any currency (or asset), the price of STEEM is determined by what people are willing to pay for it in other currencies in an open market (using an exchange). And for something new like STEEM tokens that value can be volatile.
- As businesses (and their applications) create more usage and desire for STEEM tokens that will change the dynamic for supply and demand, thus potentially raise the price of STEEM. Speculation alone is not a reliable way to expect an increase in value.
- In every currency, including government-backed currencies, there are new units of that currency printed every year or so. For a token like STEEM, there is a specific designation for where the new STEEM tokens are distributed.
- Some tokens are used to pay those who help keep the blockchain technologically sound and decentralized.
- Most of that new STEEM goes into a reward pool that is distributed based on the VOTES that are given out every day by the users (aka the holders of STEEM Power)
- You can not infinitely upvote posts at the same value.
- Each time you vote the value of your next vote is worth a little bit less.
- Voting mana is a percentage based system to show you how close to your maximum value vote you are at.
- Your Voting mana goes down because of usage and goes up because of a timed regeneration.
- Generally speaking, you can make about 10 full votes a day and that Voting Mana will be regenerated the next day.
- You can make more than 10 full votes knowing your voting mana will drop accordingly.
- At the end of 7 days after a post, you will receive the actual reward.
- Your rewards will be ready to be claimed in your "wallet"
- You will be notified of the value of that reward in the activities feed.
- The blockchain systematically distributes one or more of 3 options (STEEM, SBD or STEEM Power “SP”)
- The numbers you see on posts and comments are not an actual currency value. It does not represent any of the tokens. However, the higher that number goes the more reward you can expect at the end of 7 days.
- In the future, Build-it.io will work to share more information about the actual value of your posts.
- It is the STEEM token that has been “vested”
- In simple terms, it is the STEEM token that been set aside (“powered up”) to add value to your votes and give you more resource credits. It is no longer as liquid (aka “easily transferable”) and takes time to convert STEEM Power back into STEEM tokens (“Power Down”).
- No. And NO! STEEM is not a get-rich-quick platform. It shouldn't be approached in that manner
- Get rich quick with little work schemes never succeed and they haven’t succeeded long term on STEEM. They have been promoted on STEEM but have failed almost every single time.
- The methods for making money may be different but you still need to work hard and smart for continued success.
- Think about ways creators make money on FB or Instagram or Blogs?
- Sell things
- Indirect influence
- Advertising
- Sponsorship deals
- Donations
- STEEM Rewards pools (only one part of the puzzle)
- CONTENT - Having good content is certainly a start but even that won’t guarantee anything, just like anywhere else in the world.
- CONNECTIONS - Small and big connections alike. Connections are important and we’re not just talking about knowing users who have big influence or large amounts of money… but if you have 1 million followers it’s much better than if you have 1000.
- CONSISTENCY - Success always seems to go to those who stick with it… we always hear stories of those who kept going through long downtimes and caught their brake.
- CAPITAL/CRYPTO - A solid plan is always helped by some access to capital. Marketing can be made easier.
- This is a leading question because obviously, the answer is NO.
- Never be dependent on the price of STEEM. Your business should never live or die on the price of STEEM.
- You should have a solid business plan that doesn’t need STEEM to be valued high for it to succeed. This includes application creators and small content creators… everyone should think like a small business person.
- Many successful content creators make very good livings on platforms that don’t give them a single dollar.
- You should work to do what you need to do on STEEM without factoring in the value of STEEM at all.
- Another leading question because the answer is NO.
- Rewards pool may be a nice perk but never place the fate of your business or blog success in the ever-changing destiny of the rewards pool printing of STEEM.
- Any application or content creator that makes a business plan based on the assumption of what they may or may not get from the STEEM rewards pool is taking a high risk
- Especially with many new businesses and possibly millions of new content creators poised to come into this space, you can not assume you know where votes may go a year from now and how much that STEEM may be worth. source
Publishing On Build-it.io
No! Only text is stored on the blockchain
Build-it.io will only verify the sources of the images and videos you post and make them visible to users
You can add videos and images from other websites, you just need to reference them
When you use build-it.io to post to the STEEM blockchain, other sites will be able to view and interact with the content
Some of these sites include but are not limited to: steeve.app, esteem.app, partiko.app, steemit.com, busy.org
At the time of this writing, there are 5 tags (aka "Topics") for every valid post.
Bear in mind that other users can view and read your content via the tags you use.
Our tags at Build-it.io are; #diy, #how-to, #build-it, #doityourself, and #build.
- Resource Credits are often abbreviated as “RC”
- Resource Credits is a number that signifies how many transactions you can do on the STEEM Blockchain. Every transaction has a variable RC cost. And how much Steem Power you have determines the regenerative RC you have.
- RC go down when you make a transaction (voting, posts, transfers) and they regenerate daily.
- SteemPeak shows RCs as a percentage
- If you hit close to 0% you will not have the ability to make transactions until you wait for your RC to regenerate or add more STEEM Power (Aka “Power Up”) source
- Presently: No.
- Encryption may be possible but no interface for STEEM has created that system
- Therefore consider all content PUBLIC for now.
- You can send and receive private memos in the wallet using a tool like Keychain.
- The key is to recognize that it won’t just be given to you.
- Behave like you want other people to behave towards you: interact, comment, upvote and be visible.
- The same way you would on any social media.
- Promote it… Direct followers elsewhere to your content on Build-It. (You do not have to be a STEEM user to view Build-It content. )
- It may take a lot of time, consistency and some promotion.
- One tip is to make influential connections inside and outside Steem.
- There are less than a million STEEM users and not all of them are active daily. But there are billions of potential viewers outside of STEEM.
- Yes and no. Anything submitted to the STEEM Blockchain is there forever.
- However another STEEM transaction can change the way it's viewed by interfaces like Build-It including something akin to a deletion.
- Yes and no.
- As per “Build-It Terms” We are completely against theft especially when you have the potential of making money from it.
- So if you post content that you don’t own, you must have permission to use that content.
- Please add a source reference to your post that demonstrates you have permission or the content has been made free and open by the creator of that content.
- Just because you can get away with it on other websites or social media doesn’t make it acceptable here. The ability to directly make money makes STEEM very different.
- There are many initiatives on STEEM actively fighting content theft and it will potentially hurt your account if they discover that you don’t own your content
Frequently Asked Questions About Build-it.io
We want to facilitate DIY (do it yourself) and How-to projects all in one place.
When using our tags #diy, #build-it, #how-to, and #doityourself, we expect the post to be related to the aforementioned tags. Anything otherwise will attract a flag, ban or permanent blacklist.
You're asked not to troll, make personal attacks, or purposefully act to incite another.
Plagiarism is highly forbidden on our platform.
Build-it.io aims to onboard new users to the STEEM platform.
Build-it will serve as a central hub that welcomes all DIY and how-to projects respectively.
The founder is @Waleedtee, you can find him on Discord or Telegram.
Your post/project will be visible on other STEEM websites.
Your posts/project will gain exposure as well as a fraction of economic rewards.
Build-it.io will grant you permission to customize and tailor your creation and viewing experiences in diverse ways.
Yes, it is. The BUILD token is what powers the platform, all activities and transactions are made possible by the BUILD token
Users can stake, sell or trade their BUILD tokens for STEEM on STEEM-ENGINE
STEEM engine is a Steem sidechain that allows the creation of custom tokens
(Background: Many applications on STEEM Blockchain automatically take a small portion of the user's Rewards. This is called a “beneficiary”)
This option is completely up to the user if they wish to voluntarily set Build-it as a beneficiary on their post
However, we encourage users to set @build-it a beneficiary on their posts for a percentage of their choosing.
Most of the information gathered here were borrowed from Steempeak's website
Build-It Information and Resources
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This project is run and supported by our witness @gulfwaves.net. If you like what we do, click here to vote for us
