Steemit.com: Blogging is the new Mining

[truckythin]

does steem still minable?

In a sense it is. Steem power is mineable with a cpu, but not Steem tokens. Steem power can be converted into the currency though over 2 years of weekly payments.

does the guide on OP page of original thread still work? i means  ./steemd --miner=["accountname"....

[kaicrypzen]

Your curation rewards(the amount you earn from upvoting high ranking posts), is much higher if your steem power is higher. I am not sure of the exact numbers.

Good to know, thx.

It is hard for me to explain tbh, but I will try.

At that exact moment, for 248.657 STEEM(tokens) powered up you would receive 1,000,000 VESTS. But, if you go there now the costs will be higher, so if someone had bought 248.657 steem power right at that moment, it has already increased

And that is just after a few minutes. It keeps growing day after day as more and more steem tokens are converted into steem power.

I think I understood, so VEST is what is now known as STEEM POWER (SP), One needs N STEEMs to buy 1 M SPs, and some minutes later 1 M SPs will cost N+q STEEMs, this seems to match the fact that when you power down you get more STEEMs than what it cost you to power up:

Also what I understood from reading the steem power paragraph in the white paper, is that when one powers down (convert steem power to steem) then the resulting steem will be greater than the steem used to power up, provided those steem power tokens were kept long enough (don't know how long).

Thank you for the explanation, I should probably get back to that white paper and finish it .

There are very powerful selling bots are working at Bittrex... Looking at the market dynamics, it seems like either several powerful holders are competing to sell their STEEM at any cost, or a serious price suppression is going on (someone manipulates the market to suppress the price).

Ok so you think that this is probably the effect of whales trying to bring the price down to buy cheap, then bring it up to sell high? Or myabe buy cheap to power up ...

Some buy speculatively, others to increase their steem power. Some may be buying for the 10% interest on Steem Dollars.

Yes, that sums it all up. Let's just hope that STEEM will regain some value in the future ...

I have already withrawn 100 steem sold for 0.54 BTC.

Nice

From what I'm reading now, edits aren't bugged, so you can edit your posts as normal without the edits affecting the payout. Phew.

That's good news.

[kaicrypzen]

I had bought a handful of STEEMs at 0.00525 BTC per STEEM (now the price is around 0.0037). As I've been holding them for almost 10 days now, I was wondering if it's better to use them to power up, keep holding them and hope the price goes up, sell them with a loss and hope the price goes down even further and then buy more STEEMs, or something else? What do you think about that? Thank you.

[smooth]

does steem still minable?

In a sense it is. Steem power is mineable with a cpu, but not Steem tokens. Steem power can be converted into the currency though over 2 years of weekly payments.

does the guide on OP page of original thread still work? i means  ./steemd --miner=["accountname"....

The setup for mining has not changed. Most find it more convenient to put the configuration in the config.ini file but command line options as above do work too.

[xtester]

Just begun experimenting with Steemit.

You can check my post here for a raw introduction and overview: On The Inexorable Built-in Velocity Of Steem

Another interesting note would be this: https://steemit.com/news/@kevinpham20/huge-news-famous-vc-investor-fred-wilson-is-rooting-for-steemit

"One of the top VC's in the world, Fred Wilson of Union Square Ventures, early investor in social media behemoths like Twitter, Foursquare, and Zynga, said the following in his blog about Steemit:

"I think Steem is a really interesting experiment that may turn into a really nice business. The Steem founders are experimenting in multiple dimensions at the same time. They are trying a “paid” model vs a “free” model for curating a content discovery engine. That’s interesting. They are using blockchain technology vs some centralized system to build all of this. That’s interesting. They could finance this business via their users vs VC or something else. That’s interesting. And their users can participate in the value creation, if this turns out to be valuable. And that is interesting.

I am rooting for Steem."

[truckythin]

application.cpp:439          hash rate: 9426 hps  target: 31 queue: 110 estimated time to produce: 39....
application.cpp:439           handle_block         ] Got 2 transactions from network on block 3645...
witness.cpp:426               on_applied_block     ] hash rate: 9837 hps  target: 31 queue: 110 estimated time to produce: 39...
application.cpp:439           handle_block         ] Got 3 transactions from network on block 36459....

steamd just throw bunch of these kinds of text. What will look like when i got some coin?

[bones261]

I had bought a handful of STEEMs at 0.00525 BTC per STEEM (now the price is around 0.0037). As I've been holding them for almost 10 days now, I was wondering if it's better to use them to power up, keep holding them and hope the price goes up, sell them with a loss and hope the price goes down even further and then buy more STEEMs, or something else? What do you think about that? Thank you.

For every Steem created for curation, posting and mining rewards, 9 virtual steem are created and go into the vesting pool, which is what Steem power is. The only drawback with converting to Steem power, is you can only convert it back to Steem, slowly. It takes two years to totally liquidate your Steem power. Right now, many of the early investors and miners are powering down their Steem power. This is what is causing the sell pressure.
As you notice, I did not tell you what to actually do with your Steem. It's best for you to arrive at that decision yourself, given the information that you can glean for yourself.

[smooth]

application.cpp:439          hash rate: 9426 hps  target: 31 queue: 110 estimated time to produce: 39....
application.cpp:439           handle_block         ] Got 2 transactions from network on block 3645...
witness.cpp:426               on_applied_block     ] hash rate: 9837 hps  target: 31 queue: 110 estimated time to produce: 39...
application.cpp:439           handle_block         ] Got 3 transactions from network on block 36459....

steamd just throw bunch of these kinds of text. What will look like when i got some coin?

It'll say "Proof of work found" or something very much like that, then about 2 hours later when you reach the front of the queue it will say "Generated block" and you will get your reward.

[miha35]

did the pool really working??

[truckythin]

application.cpp:439          hash rate: 9426 hps  target: 31 queue: 110 estimated time to produce: 39....
application.cpp:439           handle_block         ] Got 2 transactions from network on block 3645...
witness.cpp:426               on_applied_block     ] hash rate: 9837 hps  target: 31 queue: 110 estimated time to produce: 39...
application.cpp:439           handle_block         ] Got 3 transactions from network on block 36459....

steamd just throw bunch of these kinds of text. What will look like when i got some coin?

It'll say "Proof of work found" or something very much like that, then about 2 hours later when you reach the front of the queue it will say "Generated block" and you will get your reward.

couple hours since this post and im still not seeing any coin. HOw do we list our balance, by list_my_accounts command in cli_wallet, right?

[reb0rn21]

@truckythin
with 9000hps you need days for a block of one steem power.... balance can be seen in steem page or with list_my_accounts if you imported you key

[truckythin]

@truckythin
with 9000hps you need days for a block of one steem power.... balance can be seen in steem page or with list_my_accounts if you imported you key

wow where did you can lookup to my hash?

[stepmike]

@truckythin
with 9000hps you need days for a block of one steem power.... balance can be seen in steem page or with list_my_accounts if you imported you key

wow where did you can lookup to my hash?

see what you post and estimated your time when you get the block(39... minutes).

application.cpp:439          hash rate: 9426 hps  target: 31 queue: 110 estimated time to produce: 39....
application.cpp:439           handle_block         ] Got 2 transactions from network on block 3645...
witness.cpp:426               on_applied_block     ] hash rate: 9837 hps  target: 31 queue: 110 estimated time to produce: 39...
application.cpp:439           handle_block         ] Got 3 transactions from network on block 36459....

steamd just throw bunch of these kinds of text. What will look like when i got some coin?

[kaicrypzen]

I had bought a handful of STEEMs at 0.00525 BTC per STEEM (now the price is around 0.0037). As I've been holding them for almost 10 days now, I was wondering if it's better to use them to power up, keep holding them and hope the price goes up, sell them with a loss and hope the price goes down even further and then buy more STEEMs, or something else? What do you think about that? Thank you.

For every Steem created for curation, posting and mining rewards, 9 virtual steem are created and go into the vesting pool, which is what Steem power is. The only drawback with converting to Steem power, is you can only convert it back to Steem, slowly. It takes two years to totally liquidate your Steem power. Right now, many of the early investors and miners are powering down their Steem power. This is what is causing the sell pressure.
As you notice, I did not tell you what to actually do with your Steem. It's best for you to arrive at that decision yourself, given the information that you can glean for yourself.

Thank you for the reply, I'll try to figure out what to do given the information I now have.

[0n0t0le]

Hi guys, can someone invite me here https://steem.slack.com/signup ?  Thanks

[testz]

Hi guys, can someone invite me here https://steem.slack.com/signup ?  Thanks

Use https://steemit.chat instead.
Announcement: https://steemit.com/steemit/@cass/steemit-chat-foss-alternative-to-slack-deployed-with-rocketchat

[Meech]

How to get an account without facebook and reddit? how long does it takes to process email request?

I'm still waiting after 3 weeks for something that will never come.

[seedtrue]

How to get an account without facebook and reddit? how long does it takes to process email request?

I'm still waiting after 3 weeks for something that will never come.

If you tried to sign up while it said "invite only we will contact you". You will need to try to signup again. It is very simple and is no longer invite only.

[smooth]

Replied elsewhere:

I was curious and tried to sign in (no facebook, nor reddit) and registred my email... however it makes almost 1 week and have still not receive anything back... What should I do to get an account?

Furthermore having to compile the miner... what is this?

very strange.

There are currently no email signups. You can either use Facebook, Reddit, PM me for a paid account, get mining working and mine yourself an account, or wait for other signup methods.

(I mentioned paid account because the member to whom I replied has a Newbie account. If your bitcointalk account is ranked up then getting a Steem account from me is free. The cost of a paid account is equal to the market value of the minimum SP balance in a new account, currently around $10.)

[thoth-Atlantian]

Replied elsewhere:

I was curious and tried to sign in (no facebook, nor reddit) and registred my email... however it makes almost 1 week and have still not receive anything back... What should I do to get an account?

Furthermore having to compile the miner... what is this?

very strange.

There are currently no email signups. You can either use Facebook, Reddit, PM me for a paid account, get mining working and mine yourself an account, or wait for other signup methods.

(I mentioned paid account because the member to whom I replied has a Newbie account. If your bitcointalk account is ranked up then getting a Steem account from me is free. The cost of a paid account is equal to the market value of the minimum SP balance in a new account, currently around $10.)

Dude gave me one for free 

Cheers again