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RE: Charlie Shrems Crypto Slang Glossary - Let's Create a Steem Glossary! Paying $1 SBD Per Entry

in #steem8 years ago

cli_wallet (or CLI Wallet): wallet which can be installed on computer as executable file that brings up the command prompt and allows you to control/view your steem accounts after you have connected them to the wallet.

steemd:

  1. Can refer to steemd.com, which is website (blockchain explorer) that provides detailed information on mining , accounts, transactions, payouts etc...
  2. The Steem full node, maintains blockchain and used for mining

Steem Key/Password : May refer to one of multiple keys/passwords that are used to login to a Steemit account. Each key has a different level of control of the account. (Please credit @pfunk; his guide https://steemit.com/steemit-guides/@pfunk/a-user-s-guide-to-the-different-steem-keys-or-passwords)
Posting key: allows you to perform blogging related activity like posting and voting.
Active key: allows you to manage the "money" on the account i.e. transfer steem, sell, deposit
Owner key: Can do everything except what the memo key does
Memo key: Governs private messaging
Master key: First key you make, can do everything other keys can do.

Below is a description of the three different Steemit assets as described by @sigmajin: https://steemit.com/interest/@sigmajin/understanding-the-steem-economic-system-vests-sbd-steem-dilution-interest-and-all-those-crazy-things
Steem: equivalent to cash. Can be traded on exchanges, used to buy SBD, used to power up. As of writing, the projected inflation is %100 a year, so primarily used for short term speculation and transactions.
Vests: Equivalent to equities/stocks. Represents investment in Steemit; gives you a claim on the total amount of Steem.
Steem Power (SP): Equivalent to Vests. Shows how much Steem it would take to purchase all your Vests. This is the common/easy way of looking at vests, and is the one used in the steemit wallet. More Steem Power gives you more voting power and influence on Steemit content.
Steem Based Dollar (SBD): Equivalent to a bond/IOU. This is effectively money that people have invested in Steemit, that Steemit is promising to payback. The conversion is roughly 1 SBD=$1 (variations due to fluctuations in the market).
Power Up: When you convert your Steem into Steem Power (Vests). You are effectively buying stock in Steemit. You are investing for the long haul.
Power Down: When you convert Steem Power into Steem. Can only be done at a rate of %1 of Steem Power per week. (i.e. it would take 2 years for you to sell it all).
Steem Tokens: Refers to Steem, Steem Power, and Steem Based Dollars

Voting Power: How much influence you have on final payout when voting (more voting power means you will add more money to the final payout when you vote). Increases with more Steem Power. Temporarily decreases the more you vote in a short time period (to prevent upvote spamming).

steemimg: An image repository which will host your images so that you can link to them in your blog posts. Steemit friendly.

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SBD - not Steem Backed Dollar?

Yes you are correct.
I apologize for the mistake.
Steem Backed Dollars is the correct reference.
Thanks you

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