How To Make Money in a DAOsteemCreated with Sketch.

in dao •  2 years ago

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You will notice that I used the word, ‘in’ instead of ‘from’ in my title.

This was strategic. This is an essential aspect and if you understand why I used ‘in’, you will do well as you convert from the old money/work system to the new decentralized structures that are currently forming and which will disrupt nearly every facet of modern life in the future (and present, now that you're reading this on Steemit).

But getting philosophical will be saved for a different article. I want to give you practical advice now about how to make money in a DAO.

First, let’s review what a DAO is. A DAO is a decentralized autonomous organization. Technically Dan Larimer created the idea of a DAC, dentralized autonomous company before Vitalik coined the DAO expression.

“What’s a DAO?” you may ask. I will describe briefly:

A DAO has no physical borders, no central authority and no one point of failure. A DAO exists only on the internet. It is a group of people who are all connected via their computers in a peer-to-peer network. Each DAO has its own set of rules, philosophy, economy, social norms and operational code. The rules of each DAO are set by computer code, but humans are the ones who decide what code will be written, as long as a large majority are in agreement.
A DAO is more like water or air than a human-built hierarchical company. Water and air cannot be contained, neither can a DAO, unless all electricity on the earth vanished.

The rules of each DAO are in a constant state of evolution, and they are changed according to certain consensus, voting or governance structures.

Each DAO has a different governing structure, but if it is a true DAO, then no one person will dictate changes in its design. Changes come about through community outcry, if enough people are crying simultaneously. When big problems are discovered, usually some community member devises a solution, then tries to gain support for his/her solution in order to bring about that change. A perfect example of this in Steemit was when many of us were being psychologically tormented by a stalker. I was crying very loudly to get a solution crafted, and enough people agreed with me that a mute button was created for the purpose of dealing with it. If no one had raised their voice, the mute button may never have been created in Steemit.

Ok, that’s all fine and dandy, now what about the money?

The truth of the matter is that I have earned all my cryptocurrency through two different DAOs: Steemit and the Dash DAO.
The Steem blockchain distributes roughly $7,000+ (someone help...I don't know what current amount is) per day to the people who participate and contribute to it.

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art credit: steem art by @tonesquare

It is a much looser DAO structure than the Dash DAO because the barrier for entry is pretty low.

It’s also a lot newer that the Dash DAO. All you have to do in order to start contributing to the Steem blockchain and earning some money is open an account on Steemit.com, make friends, upvote other people’s articles, comment on them and write blog posts. If you know how to do social media, then making money on Steemit is within your reach.

If you’re already somewhat famous, then it will be quite easy for you on Steemit. However, if you don’t currently have a big social media following, then you must either be more community-focused or outlandish. Wild people tend to do well on YouTube, Instagram, etc., because unique humans are indeed still in demand. If you’re not ostentatious, then you would be wise to learn how to be a good virtual friend, support and lift up, educate or entertain others.

Also, because Steemit is still really new, a lot of people don’t understand it very well.

You would be wise to study it, and share that knowledge with others. That’s a sure way to gain followers and make income in Steemit. There are in fact, so many different ways to earn money in Steemit, it’s mind-boggling. The amount of projects I’m now supporting, have grown recently to include: @steemgigs, @provenezuela and one, which will soon be my baby, is on the horizon: Digital Citizen Fund led by Roya Mahboob, Afghanistan’s first female tech CEO.

Having an abundance mindset is closely linked to success on that platform. Good examples: @papa-pepper, @kingscrown, @sweetsssj.

The Dash DAO gives out $1.2 million per month to people who grow the Dash network.

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WHAT????????????????????????????????????????????

The Dash DAO, of which I am currently a part of is the most underrated, unknown, well-functioning DAO currently on the planet. And it has been in existence for a fairly long time, too (in cryptocurrency terms, which is evolving fast). In the span of a few months its monthly budget (for outreach, software development, marketing, etc.) went from a few hundred thousand dollars to over a million. The world seems largely unaware of this fact. You can see a list of the current proposals for the Dash DAO here: https://www.dashcentral.org/

In a nutshell:

“The cryptocurrency DASH comprises a budget system, which allows to direct funds to development, marketing or law projects by votes of masternode owners.”-Dashcentral.org

The process of submitting a proposal to the Dash DAO is undergoing some simplification, I have heard recently. Having personally gone through the highly technical proposal process, I will say that I found it to be rather difficult. But I was 100% determined and focused, so it was definitely not impossible.

I had to live chat with Charlie Shrem the first time I submitted a proposal to the Dash DAO. It was definitely a strange and futuristic experience to input command lines and then watch as an automated system spat out some computer code that I had to then enter into a different console. It was like talking to the future, one which is controlled not by humans, but by machines who are much smarter than me.

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As the Dash DAO proposal process gets simplified, I will be communicating those changes. Here’s what’s ahead from dashtreasury.org, a new site dedicated to simplifying the proposal process for the Dash DAO:

“DashTreasury.org is releasing a proposal submission feature that cuts out all the technical barriers. Submitting a proposal is now as simple as writing up your proposal description and sending some coin to a QR code with a mobile wallet. Our server interfaces with the blockchain to execute all the necessary submission commands, completely eliminating all the confusing “debug console” requirements.” -Dashtreasury.org

So, if you have mad skills then stay tuned as the Dash DAO needs your talent. If you are interested, you should join the Dash forum and start building relationships now. DAOs rely on relationship building as their main infrastructure. Maybe a new term is needed now, Relationship As A Service (RAAS)?

Wow, I only covered a fraction of what I had intended to communicate. Time to start another article? The topic of DAOs has an endless amount of possibilities and considering that my most popular crypto article is How To Get Funded By A Decentralized Autonomous Organization, I figured there is a lot more to discuss and reveal about DAOs.

Stay tuned!

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FYI: I am still reviewing all the dreams, and at the end of the payout window, I will select one. There were so many great entries!
Also on Saturday is Kansas City's first Summer Steem Party at 4 pm. Check previous post for details: https://steemit.com/kansascity/@stellabelle/please-comment-if-you-re-going-to-attend-the-kc-summer-steem-party-on-june-24-2017-at-4-pm

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The Steem blockchain distributes roughly $7,000+ (someone help...I don't know what current amount is) per day to the people who participate and contribute to it.

Your information is waaay outdated, I just run a simple script to collect all posts created in last 24 hours( including the ones created few seconds ago that are worth 0) and I got around 21500 posts, with total pending payout value of 213,317.22 SBD! The price of 1 SBD is around $1.49 on steemit's internal market, considering this price, steem distributed around $315,000 only in the last 24 hours. I really didn't expect amount this huge. This is outstanding!

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omg, i had no idea...thanks for doing that.

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no problem, but I just realised that I did not count comment payouts, just posts, so its probably much more. I'll have to do one more calculation :O. I may even write a post about it

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Heres a 13 cent Full Power Upvote from me @stellabelle ;) dont worry about the outdated info, its a good thing u diid that, because now we have a seperate highlightedtop comment disussion revealing steemits TRUE distriibution of $315,000 over the last 24 hours!

Now is this refering to how much steem is given out to posters an commenters an curators everyday? because I read about a few weeks ago that there is about $137,000 a day given out in steemit, I thought it was because thats how much steem is just mined y the witness nodes, I was wrong and @neoxian corrected me, and told me how new steem isnt "mined" by a witness, witness just wtnesses transactions, but i ddidnt think transactions HAD a fee on steemit i thought transactions were free, and so how are witnesses maing money off rhe transactions? Neoxiantold me there is a set inflation rate? I just assumed the new steem that is mined by anyone , a portion goes to he rewards pool... I guess my real question is, HOW is the rwards pool filled? I googld this and here is what I found!
https://steemit.com/steem/@steemrollin/steem-where-does-the-money-come-from
hahaha a post that has YOUR comment in i from a year ago!
"Steem is similar to publicly traded company shares. The amount of Steem doubles each year so there is signficant dilution for those that hold Steem, however like many fast growing startups a rapid increase in value may outpace the dilution. Just like company shares (ie. stocks) these digital assets have value as more people use and contribute to the ecosystem. The estimated value of the total outstanding Steem assets is currently about $20 million on Coinmarketcap.com." haha now at halfa billion dollar marketcap, and i dont think the amount of steem continues to double each year....does it?

haha from your comment it seems like u got it!

I feel like that post actualy didnt answer the question! WHERE does the money from voting come from? Noone ever talks about the rward pool or what fills it? Like i STILl cant find a singe post expplaining it and that worries people! I should really make a post explaining exactly how the rwards ppool fills up because i literaly cant find the answer if i google search it and god this is frustrating! and i was TRYING to make the cimment with the answer but so far i can only GUESS that steempower somehow fills the rewards pool! right? man ima go ggoogle it againthis sucks why ist there a clear anwer to this questionyet!?!?! its very imortant for newbies! some peopel wont join untill they know its a sound system, but ok i gues the witnesses can all change the inflation rate, i thik its like oone or two percent a year now right? it doesnt doube every year anymore or does it?

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nice

I love that DAO sounds like TAO.
DAO is the way.
Into a better future :)

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yes i always thoughtthat too! DAO or Daoism has a spiriitual Ring to it like some sort of Ying yang Blockchain ok now that just sounds racist against chinese like Ping Pong LOL Ying yang Block Chang ca be a name for a chinese crypto currency related compay

The whole concept of decentralizing currency, trade, and development contracts is probably the greatest development since the internet itself.

However, the flip side is as much as we value the new paradigm of cryptocurrency and DAO concept, as being outside the control of normal "systems", gov control, bank control, etc you mentioned a very critical reliance it can not overcome... Water and air cannot be contained, neither can a DAO, unless all electricity on the earth vanished. So we are still chained to the system by the power grids and networks.

That will always be the one weakness in cryptocurrency. Should society have a major setback or collapse, natural or man-made, or if governments decide as a final level of control to sever these networks, the digital world will cease to exist and all its value is lost. Even if I live the free life, off-grid, solar and all - if I cannot connect to the "network" my digital currency becomes as worthless as FIAT paper money.

That's always something in the back of my mind.

Thank you for sharing your thoughts with everyone as always.

I think I followed through till the end, to think about it actually - it is quite deep. Like this could just be scratching the surface to a DAO. I mean I would go on to add it here to the comment but it would literally be a continuation to your post. Would love to see more to it from you. Keep it coming, I'm sure there's more to add. Cheers!

Heard so much about this, but no one has been as thorough in explaining it as you. I appreciate it! It is something I definitely need to look into. Happy Friday!

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glad you got something out of it.

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Thank you 🦄

I have to do some research about DASH now, thanks Stella!

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Yes, they need someone in Venezuela to lead the Venezuelan effort I think.....

i'm certainly going to stay tuned, you have just aroused an interest in Dash DAO

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great video thanks

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Ahh so Dash is a DAO and its a DAC ! nice!
You should remind people how Dash was originally called Dark Coin and that should alone exlpaina lil aboiit how its "anonymous" and was one of the first too! I still have a darkcoin wallet doownloaded back when it had only been out for a few weeks! I wis i would have been able to sync the wallet and buy darkcoin now dash back then but I reember being at anairport on way to ecuador and i couldnt sync the darkcoin Qt wallet cuz it was weeks behind and i really wish i would have just dedicated my life to darkcin like SOMETHING in the back of my mind told me to do !i learned about it with my cousin who is deep in to bitcoin and has ben for years

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Well, I can make $50 only on this comment!

Whales please prove it

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usually it is when you do not ask for something that you end up receiving it.

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Hahaha, I laughed at that response.

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I will try to help you...
One upvote can change everything.

Great introduction to Dash! I still did not understand how to make money through Dash. Do you submit a project that gets funded? What kind of projects, if so?

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thanks!

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Oh so u can make money off more than just investing r mining dash??? Its not as integrated as steemit tho is it?
and stella u are becoming a crypto Godess, u will have so much power and wealth, its gonna be insane, your children will have this incredible life where theyll getto be FULLy fulfilled like theyll get to go to space camp and shit but actually IN SPACE hahaha

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ha ha! You could be dreaming. I am actually low on energy after that party.

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lol leet me charge u back up!

UNLIMITED STEEM POWER!!!

quite educational @stellabelle
Glad to be following you so I get more of such posts from you. Keep it coming...Now I can use the slogan " DAO" in my numerous seminars...

Развивайте тему DASH, а я вас через Twitt буду пиарить )

Wow! So much new information to digest everyday. It's pretty awesome and exciting! Low barriers of entry on Steemit make it so appealing! Someone could start out a curator with no followers and work towards as many followers as they could dream of in any field ! If their will to learn and work hard!! Thanks and I look forward to your follow up!!

Dash DAO seems very interesting, and I will definitely be looking into this. Thanks for the heads up, @stellabelle. New follower here.

Cheers,
@abn

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This post received a 3.5% upvote from @randowhale thanks to @ehiboss! For more information, click here!

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WOW @stellebelle you rock!!!

Pretty nice!I will stay tuned!i would love to learn it from you!thanks for sharing!

Cool, Nice post. Let us know more once you are done with your review. Thanks.

Very interesting. I have heard of Dash before, but I have not looked into it in any depth... I will have to dig deeper.

RAAS FTW! I'm even willing to forgo Reed as a Service for that one. Another kick-Raas article from @stellabelle
Borrowed from Dream Report.net
Diagram found on https://dreamreport.net/

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if you like that image, Here is another Image I think you will like

i dunno why but all tose little iccons of buildings and computers an phone lines just reminded me of early AOL

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Good lord, and you had to do Window Maintenance or you would have 300 windows open! lol

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honestly windows 3.1 is actually very modern looking! looks like the new apps that come out! apps use small screens! just like old PCs with lower resolutions!

isnt it crazy how we end up going in loops....honestly look


see how things have changed we used to use old file system view now we have nice colorful aestheticallly pleasing modular blocks of data on screen

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Now that you mention it! 2017-06-26.png

That's so cool, I would have never known I was participating in a DAO by using Steemit.

I am quite interested in the future of DAO's, maybe even the future of our crypto-democratic world.

Good new thinking

Oh God, so many opportunities on the Internet. Just take it and do it! Thank you for the information;) Can I draw your portrai?)

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yes you may

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So give me you photography)

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seems like now the internet is the new internet
ok but all kidding aside, i can clearly see that online work will replace this idea of "UniversalBasic Income" as welfare, no u get to earn ur UBI it will be Universal Basic Steemit !! ppl will all get a basic salary if they just make themselves useful, and "real" jobs will be freed up for kkpeople who dobt know about steemit lol

but ya alot of ppl wll quit their jobs, there will be plenty of regular jobs but on steemit ppl will make WAY more than minimum wage!!!

SO much OPportUNITY ... with "bLOCK cHAIN" TecH. !! - ))

i look forward to hearing, how the NEW process "feels" - ))
... and TrusT .. 'if' the time comes, YOU'll ask for OUR HelP ?? - ))
with YOUr DAO project - )))

HavE FUN DANCING ... at the STEEM PartY - ))))))))))

LOVELOVELOVE )))
greb'Z )

I found your post interesting, I will read it calmly to see how I profit.

Wauw, it feels like i mist the future a few years ago.
The last couple of days i have learned so much here on steemit.
Never heard of dash... time to start reading

I didn't realize there was a formal process to get involved in the DASH DAO. I'm interested !

Very good article.. Resteemed.

@stellabelle you are a great source of knowledge. Thanks for sharing useful information.

What is the Dash forum URL? Thanks! Love that Medium link xo

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One of the craziest things that's possible (in maybe another 30-45 years) on DAOs or DACs - A completely AI run autonomous organization without any intervention of humans whatsoever.

Imagine an AI Illuminati all running on DAOs :P:P

"art credit: steem art by" I think you missed something there.
Thanks for the interesting article. So much new technology, if we dont stay updated we are going to miss a lot.

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yes i did, i cannot remember the artist name

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Watching your post and learning from you. Thanks for the in depth post and will be watching for more from you. Have fun at K. C. Steemfest.

I am going to check out some dash...Thanks

really helpful

I really like this new perspective you present here!
In fact, we are all visionaries who understand that this is the future, So, better to be contemporary with this trend, otherwise we lose a very important pace. Let's think outside the box!

I love this type of articles, I remember seeing the term DAO when I started on Steemit but I never bothered looking up what it was or what it meant.

I translated this into spanish. :)

Your right about not everyone understanding this platform. I've been here for one year and I've had a bit of success but I still have so much to learn.

Maybe it's time for an update of your Steemit 101 Book!

Five months ago I had no idea of the crypto economy ... and now I'm here. The world changes too fast for me ... Good day @stellabelle

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I was so happy when I first saw you on Steemit, @sardrt. It's been fun watching you do well here with your flowers and local area. It makes Tsu seem destined to be an impossible project. We are all getting an education here on Steemit!

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Thanks so much! I think the beauty of nature, the flowers of culture, makes us all closer and closer. It's our common language ....
Then everything else comes ... The good thing about these socials for me is to see these dynamics

I just learned that DAO just means Decentralized Autonomous organization....I honstly thought they were just the name of some specific token.....

and now sorry to go off tanget but.....
but DAAAANg @stellabelle your upvotes are now like $13 n comments? wow! is that full power? or woah that must just be liek a fraction!!! with ur quarter of a million in SP u must be close to having $250 upvotes for ur full power upvote! WOW and u can probobly set iit to like 10 percent like u probobly have it and still ive out a sustainable $10 upvote WOW this is rare and im so lucky to get to know all these whales and watch them and i feel privalaged to get to even be apart of this website at all duringthis period ESPECIALLy after this hardfork which has been SO overwhelming in gOOD way that I havent beenable to keep up with all my fav whales!

and so i was liek Oh yeah whats stella been up to!, and BOOM i see ur basically giving out $10 bills .....so freakin epic ! I mean Johal with his 2.8million dollars worth of steempower he basicaly gives ot $1000 bills, and he helped out 4 of my friends from africa @tj4real @xpency and @mcsamm and @ortigas100 EACH get a $1000 post! and it propelled Xpency up to front page of steemit Africa which is at http://www.steemit.com/trening/africa look its so cool! (only 2 show up cuz the other two guys ortigas100 and mcsamm ddidnt have #africa tag but xpency and tj4real did and so theyre at the TOP of steemit africa a HUGE deal for them!

And the tousands of dollars they made is LIFE changing it made me cry and theyre parents were so happy for them they feel like they are really apart of a big tech startup like they just got a job for google or facebook or something! But even newer and better! and @xpency even gave this amazing quote when someone questioned whether they even have ways to use Bitcoin over there, he said "Cryptocurrency is how we feed ourselves here in Africa" and it was amazing! And u know there is always a localbitcoins.com dealer in EVERY country now! It is just a good way to make money! all they need now is free wifi and cheap internet and they can honestly buy tgeir own smartphones or we can have kiosks to let them use steemit liek a free internt cafes so eventhe poorest residents in africa can use steemit for free a n hour adday and earnsome extra inome, and eventually theyll bb able to afford a smartphoone and solar powere battery and a nonth of prepaid mobile data which they all have in africa in cities but its just expenive! I highlight it all in my latest post here
https://steemit.com/steemit/@ackza/i-just-got-a-usd917-post-for-helping-4-members-of-steemit-africa-wake-up-to-usd1000-posts-each-with-one-post-by-xpency-now-over
and i think u will REALLy like it @stellabelle and u will really enjoy seeing how we made all these african steemit users money for their posts especially for @tj4real and @xpency where they made posts Showing off printe steemit logos at tlocal lectures at local universities and photos showing him showing people steemit ontheir phones!

(this image from his post here, its beautoful, i helped promote it and resteem it and shared it and its allowg this young africantp become a beacon of hope and now EVERYNE around him in his city wants to join steemit! think of all the users steemit will get if we get all of affrica! 1 billion people!)
https://steemit.com/steemit/@xpency/success-2-introduced-over-200-people-in-nigeria-africa

Keep up the good work! I also wanted to thank you for the great advice in your interview with Terry. Got some really good info from it regarding how Steemit works!

Amazing... I hope the DAO keep doing more and more, the blockchain impelmentations I think it will make a difference across different spaces.

I didn't know this about DASH. Could you write an article about how you personally have earned through the DASH DAO?

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Interesting! So you from what gather you put in 5 DASH to submit your proposal and your proposal was to create informational content about DASH itself - 12 articles and 3 YouTube videos. At current DASH prices 25 DASH is $5k USD. Do you get your 5 DASH application fee back? If you are rejected do you lose the fee? Are you planning to do it more? Do you have a preference between DASH and Steemit?

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if you're rejected you do lose the Dash. But this system is being revamped....

I like it, I like it a lot :) #GetYourDashOn #winning

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thanks! I'm going to check out your blog now...