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      "body": "Hello STEEM community! I love the idea of a social platform based on an un-manipulatable blockchain that rewards users for their contributions. But after creating my first post ([How To Store Bitcoin in Stainless Steel](https://steemit.com/bitcoin/@curiousinventor/how-to-store-bitcoin-in-stainless-steel-cold-storage)), my first impression is that I'm still very confused about everything. A lot of these questions would probably be answered after I spend some time here, but I wanted to write it down while it's fresh--I hope it's taken as helpful and not critical. By way of introduction, my real name is Scott, and I make videos explaining bitcoin and other technology. My most popular video is [How Bitcoin Works in 5 Minutes]([https://www.youtube.com/watch?v=l9jOJk30eQs&t=1s]).\n\n## Steem vs Steem Dollars vs Steem Power\nI read through the FAQ, several explanatory posts, and even the white paper, and I'm still fairly confused about these. Details aside, this is my main feedback. Those concepts are not only confusing, but intimidating. \n* If I only have Steem, do my votes count for anything? How much SP do I need to say, make a post earn about $1? What percentage of people have that much?\n* When does that delegated SP go away?\n* When do I need Steem Dollars? (Promoting my post... anything else?)\n* How do Steem Dollars maintain their peg? (Just interest rate payment adjustments, or can SBD be printed? The price for Steem is currently 1.08+, I get that interest rates can drive up the price, but what drives it down?)\n* Which is the best to hold on to for long term growth? (SP gets fixed interest, but Steem may go up many times if the market values it like Bitcoin, countered by the 10% inflation...)\n* It'd be great if some of the *WHY* information contained in the whitepaper showed up in the FAQ. Like, SP exists so that people can't move money around quickly to upvote content with lots of different accounts (?).\n\nI wonder if the whole system could use the concepts but hide the details. For instance, instead of converting to SP, just have a certain amount of my Steem locked / vested. And on the dollar side, rather than having a stability coin in the system, just show me my account value using the latest price in dollars. When I buy / sell on coinbase, I can just type in dollars and it converts for me.\n\n## Getting Started\nI signed up on a Saturday but my account didn't get approved until Monday. I understand that Steemit, Inc. is giving real money for every account, so there needs to be a process. I read in the FAQ you can setup anonymous accounts by self funding through other sites, I would have been happy to do that if there was a link from the signup page. This seems like a big barrier to entry for, say, someone wanting to signup just to comment.\n\n## Writing My First Post\nI was panicked at first because I didn't notice that my post was being saved as a draft. I now see a little \"draft saved\" text pop up. Maybe have a \"drafts\" section to make this clearer?\n\n## Rewards\n* Does my post only pay out according to how many likes / votes it gets in the first 7 days? Most of the content I create doesn't become valuable until months or years later. That video I linked at the top earned its highest ad revenue just last month, over 3 years after publication.\n* Do number of views count, or just upvotes? And only upvotes from whales? For lots of my content, I buy $10-$100 of adwords to get it noticed by \"whales\" on the internet, that is, curation sites, etc. On Steem, if I bought a lot of external views, would those help me at all? On a first pass, it seems that bringing in external visitors doesn't benefit me except in that it increases the value of Steem if they join and contribute--which is great, but very roundabout.\n\n## Promoted\nIt'd be great if there were a way to understand how much visibility spending, say, $10 gets my post. I can get an idea by looking at the promoted costs of the posts on the promoted page, but having that info when you're typing in an amount would be helpful.\n\n## Tipping\nI found it incredibly interesting to read about the rationale for not having tipping in the white paper--that there's a cost in simply deciding whether to spend money, so if you force people to make that decision for a simple upvote, they'll never upvote. On the other hand, sometimes content is incredibly valuable, and I'm happy to send someone a beer ($5-$10). It'd be great to have that option. It feels like the Steem Power system is a roundabout way for me to actually tip... it's just very unclear how it all gets connected. How much SP do I need so that one of my upvotes is actually worth $1?\n\n## Centralization Questions\n* Who runs Steemit.com, approves new accounts, and hosts images?\n* What percentage of Steem / SP / SBD do Steemit founders currently own?\n\n## Misc\n* I'd love the ability to follow tags or topics, and not just authors.\n* Is there a way to see most popular posts of all time in a given topic? Or do a search and sort by views?\n* Show popular tags or autocomplete on story creation page.\n\n## Love the Idea :)\nAfter reading the white paper, I'm amazed by the incredible amount of thought that went into the system design, figuring out how to incentivize growth, reward people for contributions, pay for bandwidth, prevent abuse, etc. Looking forward to seeing how the system evolves!",
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      "body": "This guide will show you how to store your Bitcoin (ether, dash, or other cryptocurrency) in durable [stainless steel dog tags](http://amzn.to/2iccvLh) ($9) with a fairly inexpensive [metal stamp kit](http://amzn.to/2fSp2Th) ($20). Video at bottom.\n\n![1_tag_in_hand.jpg](https://steemitimages.com/DQmQhsdMKM2rAwMWWnvkvmpjVr8DjDwayNmKYxCGi1uRcR5/1_tag_in_hand.jpg)\n\nIf you have more crypto than you'd normally carry around as cash in your wallet, it's recommended to store that in **[cold storage](https://en.bitcoin.it/wiki/Cold_storage)** which means **offline**, or at an address with a private key that never touched the internet. An easy way to do this is on a paper wallet, but paper can be destroyed by fire or water. \n\nStainless steel won't corrode in water, and melts at over 1300 deg C, which is well beyond the 800 deg C typical house fires reach (according to the internet).\n\n## Supplies\n\n![2_supplies.jpg](https://steemitimages.com/DQme9K7UFYgYnWmFXn5abEWyxJvCHeVWAafmNXC7tzt2S6y/2_supplies.jpg)\n\n* [metal stamp kit](http://amzn.to/2fSp2Th) ($20) - 4mm tall letters recommended. This kit has numbers and capital letters only. This is great for recording 12-24 word recovery phrases, hex (0-9, A-F), and even keys with lowercase letters. I just make a dot under the letters to indicate lowercase.\n* [stainless steel dog tags](http://amzn.to/2iccvLh) ($9)\n* [hammer](http://amzn.to/2fRQ8dh) - 1.5 lb or heavier recommended\n* [stamping block](http://amzn.to/2vPSE7O) - or anything hard you can hammer on - be sure to grind afterwords so your private key isn't visible!\n* [prick punch](http://amzn.to/2vPy8nP) - a small nail will work, too.\n* masking tape & ruler - to help line up letters\n* safety glasses & ear plugs - metal on metal can create sparks\n\n## Generating an Offline Address\n\n1. Go to [bitaddress.org](https://www.bitaddress.org) and save the web page to a USB key.\n2. Copy that to a computer that's not connected to the internet.\n3. Open the page and follow the instructions to generate an address (just move your mouse around for a while).\n4. We're going to stamp the **\"Private Key WIF Compressed\"** phrase. The video explains the difference between all these numbers in more detail, but the main advantage is that this one has error checking built in. If you mess up one number, bitaddress will tell you this when you double check it. This format also leaves out confusing letters like upper case \"I\" and lowercase \"L\".\n\nNote: I also use this technique to back up my hardware wallet, which gives me a 12-24 word phrase. The neat thing about word phrases is that you only need to write down the first 4 letters of each word, and the dog tag can easily fit 4 rows of 12 letters. More details at [BIP39](https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki).\n\nNote 2: You can even generate an address by flipping a coin 256 times, but you still need some software to convert that into an address to send money to.\n\n## Stamp the Private Key\n\n* There are 52 letters / numbers, so that comes out to 13 letters on 4 rows. \n* Use the tape to provide an edge you can line up the stamp to for each row.\n* I've got about 40mm across, so I space each letter 3mm apart and mark this on the tape.\n\n![3_ruler.jpg](https://steemitimages.com/DQmUkCjnDSHAeWFCyngg4HNW93C8q6EXzZoU1MuXkhKoCvs/3_ruler.jpg)\n\n* I also mark every group of 4 and each row on my piece of paper to help keep track of where I am.\n\n![bitcoin_paper_wallet_private_key.jpg](https://steemitimages.com/DQmbfnw8tnAQpaN3LpEtYTSpYWMFPnShpAHma9ovcTj7wBS/bitcoin_paper_wallet_private_key.jpg)\n\n* Slide the stamp down until you feel the bottom edge of the letter hit the tape, and give it a good whack.\n\n![5_stamp_alignment.jpg](https://steemitimages.com/DQmYWsyzjbN1DZcCYWvUnmKMj1DyAsjULG26dW2J2jPXDCk/5_stamp_alignment.jpg)\n\n![6_whack.jpg](https://steemitimages.com/DQmRb4wDxgjqVes13djMd8STERfMsbEGGSVMXVDDafwdR5w/6_whack.jpg)\n\n* If the letter doesn't come out clear enough, you can usually hit it again. If you stamp the wrong letter entirely and don't want to start over, just use the punch or nail to cross it off.\n* For lower case letters, use a nail or punch to put a dot under the letter. I found this easier (and cheaper) than getting a stamp kit with lower case letters and trying to tell the difference between upper and lowercase. \n\n## Test Reading Back Your Key\n\nType your stamped key back into the offline computer that has the bitaddress site on it under the \"Wallet Details\" button. Make sure it doesn't give you any errors and that the resulting Bitcoin address matches the original one. You might even want to wait a few days to make sure you're not just typing from memory.\n\n![7_check_address.jpg](https://steemitimages.com/DQmd4pRwuTw9jrWqGsjgKJbC3BzRJMgbdmqQj8CoayWnYNC/7_check_address.jpg)\n\n## Send Bitcoin to Your New Cold Storage Address!\n\nYou now have a secure and durable offline cold storage wallet, send some money!\n\n## Cleanup\n\n* Grind or file down whatever you were stamping your tags on to make sure you don't leave an extra copy of your keys around.\n* For maximum security, format the hard drive of the computer you used to generate the key and throw it into the ocean. :)\n\n![9_grind_stamping_block.jpg](https://steemitimages.com/DQma2f7g2XCguBEji873tzbYtQJUEeerrGLQTXNJ7VNi3mv/9_grind_stamping_block.jpg)\n\n## Video Version\n\nhttps://www.youtube.com/watch?v=QthXX25IdfQ\n\n## Inspiration\n\nI was originally inspired by a product called [CryptoSteel](cryptosteel.com), which comes with prestamped metal letters, but costs $80 and up. One advantage of Cryptosteel is that it has a lid, so someone that randomly comes across it doesn't see your private key without opening it. You might want to tape over your dog tags or put them in a container to provide similar protection.\n\n![cryptosteel.jpg](https://steemitimages.com/DQmTQLsZUAE7ogNrKRmT2SsZxw5GEcuJ7dnzYAQwkbADE2a/cryptosteel.jpg)",
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