Rundown of the Steemit User Wallet and what everything Means — Steemit

If you visit your steemit wallet, it can be rather confusing what each value mentioned in the wallet means. I'm still trying to figure out how everything works. I really want to use this platform to find useful information and to share useful information, but I'm not going to lie, I also want to try make money out of this. So how does steemit work? Is this one big ponzi scheme? Well it seems like some people think so, but I seem to disagree. Let's think about how youtube makes money and how the business behind youtube currently works. If you can understand how youtube's business model works, then certainly you can believe that a site like steemit could work and make money. With youtube authors of popular content get paid based on the amount of views attracted by the content that they post and advertisers pay to have their content advertised on popular videos and channels. I'm perhaps oversimplifying the concept, but you get the idea. Sometimes if I don't really know what to think of something I stumbled across on the internet, then I turn to some form of chat. Back in the day I used to resort to IRC, these days Slack seems to be the thing. I wanted to find out more what some sane altcoin traders thought of the steemit ecosystem and whether they thought posting content on steemit was profitable or not. I went on the slack for: https://www.reddit.com/r/BitcoinMarkets and asked my question. I got some interesting responses: This is my question and the responses I got: Btw the guys on this slack are very interesting to talk to. If you would like to join the slack you can sign up here: https://signup.bitcoinmarkets.co I liked the opinions that I got in my thread on slack, they were rather interesting. I guess at the end of the day if you would like to know if steemit is worth it or not then you should create an account and use it for a few months, and once you have money that you can actually transfer to an exchange and cashout to a bank account. This is how I've done on steemit so far , I joined early in January 2018 and this is my wallet at this moment in time: I will leave you with some obligatory introductory tutorials that you should read if you are serious about this steemit thing: https://steemit.com/steemit/@donkeypong/still-confused-by-steem-steem-dollars-and-steem-power-the-power-plant-analogy ( I found this on a steemit wiki which I will link to below. It explains all the different parts of the Steemit eco system and how everything works together in great detail. ) https://steemit.com/steemit/@steemitguide/steemit-financial-instruments-explained-steem-steem-power-and-steem-dollar Financial Instruments Steem Power and Steem Dollar Explained https://steemit.com/utopian-io/@netuoso/condenser-show-payouts-in-sbd-and-steem-as-well-as-other-changes Please reply and tell me what you think. Follow me and I'll be happy to follow you. Or just ask me to follow you in the comments.