@smyle. Exactly my questions! Okay, I'll hang on here to await replies. Thanks for asking my intended questions. @redfishpillar over to you. And thanks for creating this type of opportunity

@eurogee

Welcome to AMAWED, @smyle! My response to your questions are

1. I do not even think that steem strenghts/rates are determined by changes in btc. My understanding is that the price of steem  is determined by **'usability'** which is the way people use the platform steemit and token, steem.  I would also add that the price of steem in the market depends  on whether or not the steem token is scarce. As in basic economics, scarcity brings about increase in value.  So if steem is scarce in the market, the price will increase, but if there is too much of it  in the market then you will see a decrease in price , just like money, which follows the rule of demand and supply. 

2. Steem backed dollars (SBD) was created as another coin for steemit to bring about stability of steem in the market. Please read more from [steemit's whitepaper](https://steem.io/SteemWhitePaper.pdf) and her [recent bluepaper](https://steem.io/steem-bluepaper.pdf) . 

3. Well, between SBD and steem, I would advice a Nigerian to sell SBD. The Nigerian should ''power up'' his/her steem, in my opinion. 

4. From my experience, I think, it's easier to sell steem on [blocktrades.us](https://blocktrades.us/). However, transaction fees are less on [ bittrex](https://bittrex.com/account/login).

Thanks  for the commendation and for participating in AMAWED.  I really appreciate.

@maryfavour

@prettycynthia. @redfishpillar I hope you wouldn't mind my responding to this question. In my own view, yes without accounts with considerable SP upvoting a minnow, it would definitely difficult find it difficult to progress. To your question, I think minnows should continue to invite more people to be part of the program. As more people join the program, demands for steem wld increase. This will also increase the value of Steem, making you to have more money in your wallet. To me, Minnows should continue to play active roles in campaign to make Steem a household name all over the world. Thanks. Such a good question.

@eurogee

Welcome to AMAWED, @prettycynthia! Thank you for posing your question. @eurogee has responded very brilliantly. To reiterate what he stated, the best way a minnow can contribute to the growth of steemit is **marketing steemit**, using your creative ideas and projects too, if you possess the skills to manage one or more.

@maryfavour

The best we can do is preaching the gospel of steemit to individual and also following them up so they don't abandon it.. That way the demand for steem will be high just as the demand for bitcoin is.. The more the people the more the demand for the steem coin. My two scent advise.

Welcome to AMAWED, @elladinolana! Thank you for your kind words and support.

I don't know if i'm correct but we are all here to learn,  but let me try,  i guess the reason could be that steem dollars actually reduced in price or it could be the voting power of the votee .. I stand to be corrected tho!

Welcome to AMAWED, @blessedman939! Thanks for your question. Just to add to what @prettycynthia has stated, when you retrieve your vote, as you stated, then it wouldn't be to your advantage. Why? It is because you lose out of **curation rewards**,  based on your **steem power** and **voting power**.

@maryfavour

Will like to buttress on this after you @maryfavour ma'am...

Was about to ask this
Can we do justice to this

Welcome to AMAWED, @olarewaju! Please, read @sweetestglo-eu's response to @blessedman939's question. I think that will help answer you question. Regarding possible way out for decrease in price of steem. It is for more there to be more demand for steem than supply of the token. This is my opinion, anyway. Thanks.

I noticed same thing, but a little bird told me its either the content was edited after posting or the price of the payout was affected by the rise and fall of steem... Still stand to be corrected!

I like your sense of humour, bro. Na @jaynene teach me about bringing coke and popcorn ooo...Lol!

Welcome to AMWED, @harbysco! Yes, we will all be learning new things on this beautiful Wednesday morning. Invite as many of the LAUTECH STEEMIT COMMUNITY members as possible. Cheers.

A very nice question.  When an author declines a  payout, neither the author or the curators get rewarded. As to where the supposed rewards goes to,  I don't know.  But I think, supposed rewards stays in the reward pools for others to claim. Hope you question is well answered

1 the fastest way you can increase your steem power is by either powering up which is using your sbd for such exchange or use your own money to that.. 

@maryfavour will give an indepth description of what i meant.

2 no you shouldn't restrict yourself, once in a while  leave your comfort zone.. You can make your work more interesting with other topics but don't deviate from your Niche.

Let me help out here..... 

To number one question

There are two ways to grow your SP... 
 * CHOOSE THE OPTION OF 100% BEFORE YOU SUBMIT A POST
  * YOU CAN INVEST BY BUYING SP WITH BTC

2. STEEMIT IS A PLATFORM THAG WELCOME IDEAS, YOU ARE  NOT RESTRICTED TO ANY PARTICULAR SUBJECT, When you truly know others will benefit from you post you can post on anything......  Till now my post are always a post to improve the community, but I still have bundles of cryptocurrency knowledge that's not yet shared....  That's coming soon

Hello, @yvonn. Welcome to AMAWED! Thanks for restructuring  the sentence- Ask Me Anything Wednesday about steemit. For now, let's leave it the way it is. I thank @honourmaus for assisting to respond to your questions. Please read my response to @mikepm74's concern and question. You'll find the answer to your second question there. Cheers.

No i don't know any.

@klye is a witness and manages the steem.global faucet.  He shares part of his income with the whole community in a form of faucet.  Registration is totally free and does not even depend on whether you voted him as a witness or not.

Are you aware that's just an African/Nigerian scenario simply because BTC is the dominating Altcoin and the only possible means to convert to local fiat.

So for the rest of the World i.e Europe, America, Asia etc. that assumption is not likely true sir!

There are several ways to curb this problem and it was foreseen by the developers. Have you ever wondered why we have two cryptos on the steem blockchain? Okay.  Pay a little attention here as Its quite difficult to explain  it in my own words. The answer to this question is in the white papers. 

Sbd  is a debt token  whiles steem is an asset token.  Sbd is meant to be dragged to the mud and stick to the 1$ cap whiles  steem is meant to move to infinity. That's the reason why you receive sbd as rewards.  When you convert your sbd to steem, you actually push the price of steem a little upward. So exchanging sbd for btc does not have a bad influence on the steem ecosystem. The deciding factor is when steem gets dumped on exchanges. This does an irreparable damage to the market. All that been said,  the faith of steem is closely link to btc as one cannot convert steem to fiat and vice versa directly.  A direct exchange will bridge the slight dependence of steem on btc. 
When steem becomes more mainstream,  btc would rather depend on steem as it will be easy for someone to acquire steem and use it on real time than btc which has no community support.  I hope I have cleared  out some doubts.  Please read either the steem blue paper or white paper to get the full understanding to the ecosystem

The number beside your username is your reputation score which is the number 51.