How Much Does STEEM Need To Be To Live Off Of It?
Great. More Dreaming.
A little over five weeks ago, I posted about needing STEEM to be just shy of $176 USD in order to have my stake at that time
be worth $1 million.
Well, I'm happy to report that now it only needs to be a little under $165 USD.
I set up a spreadsheet to look at more price points, mostly for fun, but also perhaps to answer a question that gets floated around here and there: how much stake do you need, and how high would STEEM have to be, in order to live off of it?
If you take a look at the image, down in the bottom part of it, you will see several USD amounts, from where it is more or less now, at 28¢, to the point where dreams are found—though in my mind, still not out of the range of actual possibilities—at $500.
The next column represents my current stake. The third, what the value would be in USD when STEEM hits those different amounts. Column four is what the dollar amount each total value would be in a power down situation, while the last column is the same but in STEEM.
To answer the question about at what point one can properly live off of STEEM, I decided I would need to know how much of my stake I would have to power down to get there. I don't want to power down a whole lot, you see. I want to keep most of it there, so I can replenish what I take out and still grow it.
So, take a look at the different price points, and you'll see what one week out of the thirteen required to power it all down will cost you. Then, take a look at your expenses. In my opinion, I'm probably not living off of the STEEM I have now unless it magically hits somewhere close to $100 USD (and actually stays there), which means the earliest point might be around $80 USD. That amount doesn't allow me to do a whole lot, though, but more or less gets me to my current needs. Which means it would need to be higher than that for me to be able to do much more than meet my bottom line obligations.
Your situation will probably differ. A lower cost of living will get you to the goal of maintaining with STEEM quicker than a higher one will. For some, that might actually mean looking at a move to somewhere cheaper. Or maybe it just means you continue to build your stake and wait out the bear market, which is pretty much where I'm at.
Now, of course, these amounts are approximate, because they don't include whatever fees there may be to convert STEEM to fiat, or what taxes you may incur, so those need to be factored in, too. Fees, hopefully, will be somewhat reasonable. Taxes, probably not (especially if you think like me that by and large, taxation in and of itself is unreasonable).
Anyway, I hope you find this basic look at values interesting, and it can help you see what STEEM might need to be if you were wondering but hadn't gotten around to figuring it out.
Thats one year of steem activity for you, if the same occurs for the next 4 years, and not even counting the interest, at the end of five years you would have about 30,000 steem. So retirement wise that may mean that steem at 10.00$ would be sufficient to help boost a small nest egg.
It is all relative, isn't it, @bashadow. I think there's tremendous amounts of hope to be found in the numbers, if people care to see them.
Of course, STEEM has to be around in four more years, and I have to be able to find a way to average at least 500 SP a month to get there (without doing as much investing as I did this year), but right now, it all seems rather doable. We'll see, right, but I like the possibilities.
I love these thoughts as it gets us thinking about how valuable decisions today to commit and engage in the ecosystem could impact our lives in the future. Encouraging to think this way!
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I thought Steemit was already was life, LOL! I am hoping good things for steem myself. The healthier it becomes, the better I will like it.
In the interim, I will continue to enjoy steemit as a forum for friends!
Be blessed!
:)>Hey, if it's life already, nice! :)
I think it's healthy to look at it as an investment in the future, rather than a means to sustain life now, but, at some point, that frame of mind does switch, right? Those who can manage it now, at these prices, all power to them. For the rest of us, well, there's still plenty of work to do while the prices are low to help bolster our stake.
Oh, yeah, and friends! :)
I tried to buy some steem, but they wanted a picture of my drivers license, and I do NOT put certain things online. So sadly, buying SBDs is not an option!
There is a local computer store in town, that says they will be brokering Crypto, Q1 of 2019; so we will see, Maybe I can grab some then.
I am enjoying Steemit just for the platform, and the people!!
:)>Well, hopefully, the computer store won't have the same requirements, then.
I don't blame you. I wasn't happy about the drivers license thing myself, but I did it. I guess we all find out how far we're willing to take things when it comes to online security and anonymity versus whatever true or perceived advantages there may be to risking them.
I run Linex, so they can't penetrate my home computer, but I placed some limits,; and that was past my comfort level.
I understand that for cash, they will transfer crypto to an existing account, which I was able.to set up. So I should be okay there!
If I can get purchases going, I will begin to buy SBD and weku dollars. 500 a month of eachwill help....
:)>I would say that without being to aggressive about focusing on just earning you can make about 1% of your steem per month. So you just need to work backwards from there IMO. If you need $5,000 a month that means you need around $500k value in steem.
I like the way you think, @thedarkhorse. :)
'Just' $500,000 value in STEEM makes me smile. There's a future for us here with STEEM, and I think the more we work towards that future, the better off we'll be.
A dollar or two would keep me afloat, and 4/5 would be rather nice. I could backpack round Asia smoking doobies at that price for as long as I wanted.
Stable and double figures I think is years away though, so don't give up the day job yet :)
Well, It's been six years now since I had a day job, but I'll make sure to let my wife know you said she shouldn't give up hers. :) If I did, she would probably say, "You need to get a job," so I think I'll avoid that.
Backpacking through Asia seems to be a popular thing, from what I can tell. Can't say any of that appeals to me, but since it's mostly a younger, and somewhat single crowd doing it, we'll just say that possibility has more or less passed me by. Never say never, I guess.
Which means, more of it for you, when STEEM goes back up. :)
Yes, avoid that statement if you enjoy being a house hubby :)
It is mostly younger singles, but I've met the opposites too. The feeling of freedom and affording to do it is pretty nice. It's all good until you fall off a bike and break your head. More for me, yes please.
The EL will have a scoring adjustment tomorrow, i'm hoping it's a positive.
Having a nice evening!
An EL scoring adjustment? Just going to sneak that in without any elaboration, are you? :)
Yep, I am :)
Don't wish to offend anyone you see.
Howdy again sir Glen! Very interesting to see this chart and what the possibilities are. It looks pretty encouraging but then as always, it depends on the price of steem. which is going up soon! Great job on this post!
You say that with so much conviction about STEEM going up. Are you just playing the odds, or do you have friends in high places? :) No doubt the latter. Here's hoping you're right. It would be nice to see prices above $1 at least.
No, I wish I had friends in high places. I don't know anyone in high places but there are so many good analysts on here that strongly believe in steem so I think we have a good chance of staying here and making good money, they've convinced me. The only problem is when the price will rise of course.
Yeah, that's always the problem. Getting the crystal ball out and deciding when things are going to seriously move. I love being in the know, but this is beyond my ability to know at this point, because I'm not in with those who are in high places either, and probably never could be. I'm not that much into socializing, and I can't see what I could possibly offer to someone to make them befriend me, other than they feel sorry for me. :) Since I don't want or need sympathy, I'd be a very unsympathetic person to pity.
re: analysts
Yeah. I can't say I'm convinced, but they do make a better argument than most of the doomsayers. They tend to have history on their side, too. Still, unless they have friends in high places, they can't tell us anything more than what we could noodle out on our own, so it's all still speculation based on historical data that so far points to a "what comes down must go up" type of market reaction.
Howdy today sir Glen! lol..."a very unsympathetic person to pity." that's funny but I agree. I don't know if anyone gets in good with the top people. they wouldn't need any of us bottom feeders. lol. Well, I know that institutional investors like Fidelity and Goldman Sachs are on the sidelines but I'm not sure what they're waiting on. Maybe for the feds to get some more regulations in place and decide how to handle cryptos.
I think something will happen this year as far as rising prices but who knows?
I started to tell you about Mrs. J and her job..they put her on third shift and I'm sure you know how bad that sucks! lol. Have you ever worked third shift? I worked it for probably at least 20 years. It's really hard on your physical body. So far she's handling it well but on her days off she's too tired to do anything after those 12 hour shifts.
That was the shift she didn't want because no one is around and she has no chance to see or talk with any of the bosses. The only reason they put her on there was because their rules or laws state that the women's cells have to have women guards and that takes two women and they only had one on third shift so they put her on, I don't think they had a choice. they're quite a few short on workers.
It's been a very interesting journey so far though and some big eye openers. Like almost every guard treats the prisoners like crap, dirt under their feet, with disdain. Most of the guards should never be a guard! lol..because they're terrible.
She has no problems with the inmates because they're nice to her but the other guards are hard to get along with. And the other guards think she's weak because she doesn't go in screaming, swearing, threatening and calling names. She goes in with a smile and talks to them real friendly and kind and jokes with them and they all love it because everyone else treats them like trash, not even human like.
She's found that there is zero reason to be mean, loud and nasty to the inmates. they respond very well if they are talked to with respect like Mrs. J does and they do cooperate with her. Even the federal prisoners who are the most dangerous are some of the nicest, friendliest, funniest people but only to her because all the other guards just swear and yell at them.
It's just totally amazing what we're learning about the system. 90% of the guards need to be fired! lol. they\re ten times worse than the criminals as far as attitude and character. And there's no reason for it. The bosses are starting to take notice though and are already talking about making her a trainer for new guards.
I'm kind of torn on this information, @janton. I do believe it's good to be treating people with respect, etc. My concern is, who has Mrs. J's back? It seems to me that she could fall victim to either a guard, who resents being shown up, or being retrained on how to do things when they believe what they're doing is what the inmates deserve, or she could bet taken advantage of by the inmates themselves.
I do believe everyone should have a second chance, and should be treated with some level of human dignity. I also believe that there's plenty of room for finding a way to use Mrs. J's natural demeanor against her. So, I hope she has some backup if anyone, on either side of the cell, decides she shouldn't be there anymore, or that she fits nicely into some plan.
It's kind of weird when the inmates are nicer to you than your fellow co-workers.
I do think she has the potential of doing some great things there, as long as she has the backing and protection she needs. It's always a hard thing to go against the status quo.
Third hour sounds like punishment. Hopefully, she won't have to work it too much longer. If she does actually start training guards, surely they'll have her doing it during decent hours.
howdy today sir Glen! yes sir, the training would be mostly during the day but the night shifts have different duties so she would be training them there too but making better money and more importantly influencing guards and turning attitudes around.
This is totally different that a prison setting, half of the people in the county jail are awaiting trial and will be proven innocent, so half the people are not even criminals. She is going by the book and the law. The responsibility of the county jail is just to take care of the inmates who most are being held for a short period of time, it is the jail's job to take care of their needs and make sure they are safe and protected.
She says it's babysittting basically and that's what the law calls for. not harrassment, not punishment(because most haven't been sentenced yet), not insulting and demeaning them and calling them names which is so abusive and immature and unjust and cruel. But most of the guards are immature jerks who like the feeling of having power over someone. Thankfully some of them are getting ready to retire.
As far as having her back, the way the system is set up there isn't any. They have the guards, male or female, going into a cell with 8 to 12 big guys with no cameras! It's shocking but that's the way it's set up.
Of course if anyone even touches a guard that's some serious trouble and a felony and most are on their best behavior because they're awaiting trail. She says most of the guys would have her back if another inmate tried anything. So there's that plus she is more certain than ever, 100% that God has placed her there so we pray and say hey God, you put her in here so you have to protect her.
so far, unlike the other halls and sections under the other guards, she's had total peace on whatever section she has for that day. the inmates, some of them, always try to take advantage in some way but most are super nice and like to joke with her and tease her. She's the only bright spot in that jail system right now and they always ask her to be on their hall. lol.
If they make her a trainer like they're talking about doing, she'll turn that whole place around. Most of the inmates just want to be treated with respect, especially the real criminals, respect is everything to them. by the way, the bosses and leaders there like the way she handles things, they don\t believe in treating people like trash. I think she's going to get promoted fast because no one likes trouble and with the Angels and the Holy Spirit going before her and working with her, there is peace.
Oh, one more thing is that there are several really good, serious, mature people that she worked with on other shifts and they are being moved to her shift so she's going to have a really good crew, they are moving some of the real immature jerks out onto other shifts.
Well, steem better giddy up and make it so for all our sakes! Just my opinion. 😎
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That's right, @galenkp. In the meantime, we take advantage of the lower STEEM to either stock up, increase our reward earnings potential, or both, so when STEEM actually does 'giddy up', we're not left in the dust.
Great hardwork haha
Like you, I am also accumulating Steem @glenalbrethsen. My goal is to acquire 3,000 Steem, split up into three accounts.
I want all of us to have 1,000 Steem each and then I will try to earn a consistent amount of Steem and SMT's after that.
That sounds like an ambitious, but doable, and very good idea, @chrisrice. I wish you luck, as well. I think there are many opportunities to build stake right now for those who are willing and able to take advantage of them that won't be so abundant when STEEM goes up. So, we do what we can for as long as we can and go from there.
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