SEC S10W6: Steemit, work or support?
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Steemit….
A word that crossed my path more than 7 years ago.
Growing up, my dad always told us that if something sounds too good to be true, it cannot be true. That is how I felt about Steemit when it was introduced to me. Call me inquisitive; I joined. I even attended a seminar that was held in Johannesburg by the Steemit team, Ned included.
Still, it just didn’t make sense to me. Cryptocurrencies didn’t make sense, full stop! Here I was an extremely busy business owner who could hardly find time for her family, let alone time to vote and write posts.
I wrote 25 posts over a period of +/- 3 months. The highest earning was 154.19 USD and the average earning was 11.84 USD.
I didn’t allow myself the time to learn more about Steemit, to invest more time, and to wine and dine the big shots in South Africa even though I had the opportunity to do so. I left Steemit never to hear from anyone in South Africa again.
Then, 1,5 years ago it was my husband who asked, "Why don’t you take another look at Steemit?" I now had more time on hand as we sold our main business.
And that, my Steemit friends, was the start of my second journey. A journey totally different from the first one.
That brings me to the questions of this contest, which I can now answer in all honesty.
Do I think we should consider Steemit a main job or a way to generate extra resources? |
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For me, both having a main job and generating extra income have their pros and cons.
I am also convinced that the answer will be related to two things;
- the economy of the country in which the author resides
- the needs of the person.
The economy of the country
Let’s take my beloved country, South Africa, as an example.
In a report released on June 27, 2023, Stats SA mentioned the average salary in South Africa as R 25 304 (SA Rand) which equates to +/- 1,331.78 USD or +/- 7481.25 STEEM.
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I must mention that this excludes the salaries of agriculture workers. I doubt very much in my mind that it includes domestic workers.
Never less, I can guarantee you that this is a lot of money and an amount not easily made up on Steemit in a period of one month if you are an ordinary Steemian.
Currently the top Steem Representative earned 643.675 USD, or +/- 3,608 STEEM, for the month of June 2023.
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The needs of the person
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQme9R7pfu61ksnDcCCwCMLUHGF6kdMWC86ivXEmYo4MCFE/image.png)
As for the needs of the person, we all have different standards and circumstances. It might be that your family depends on your income, or it might not.
If you are living in South Africa and your family depends on you generating an income you won’t be able to commit to Steemit full time. However, an extra income will be welcomed in difficult economic times.
I’ve told you what the average salary is, and if you think it is high, think twice.
"A family of four estimated monthly costs are R 35,151.90 (SA Rand) without rent." This according to www.numbeo.com
This will be 8814.59 STEEM or 1902.19 USD.
It is clear that in South Africa both mom and dad have to work, and an extra income can close those holes that so often appear.
My answer: You can only consider Steemit as your main source of income if you have invested a huge amount of money in it. If not, you can definitely consider it for that extra income.
What is my main economic activity and/or what other jobs do I complement Steemit with? |
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Previously, I was a part owner of a company that we sold a couple of years ago. Both my husband and I decided to retire and decided to move to the coast.
It was clear that living at the coast is very expensive, and soon we took on some extra "jobs".
Let me shock you with the top 5 expenses we have as a family;
EXPENDITURE | SA RAND | STEEM | DOLLAR |
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Property bond | 35,000 | 9514.30 | 1905.35 |
Medical aid (3 people) | 12,000 | 3262.05 | 653.26 |
School fees (1 child) | 9,000 | 2446.53 | 489.95 |
Insurance and assurance | 9,000 | 2446.53 | 489.95 |
Water and electricity | 5,000 | 1359.19 | 272.19 |
This equals to | 70,000 | 19028.60 | 3810,71 |
It is only after paying for these items that we can start living by buying groceries, fuel, entertainment, telephones, internet, etc.
The property we bought has a self-catering unit that I rent out to holidaymakers. The Dolphin Coast, where we are living, is the perfect holiday town with the result that the unit is delivering a nice income. So much so that we’ve started building a double garage, and shortly we will be adding a second floor where we will be living so that we can rent the bottom house, also to holidaymakers.
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmNunrNaEQtFUV39vGRrDuGdArLLKp4kWoaibCzgSy7rMC/image.png)
Just like with any business, renting out a unit doesn’t just happen. I have to advertise, be on various referral groups, constantly be on the lookout for opportunities, and keep my eyes on the trends. Is this not also the case with Steemit?
I also, occasionally, still consult businesses.
What is nice is that I have found "a job" and something I enjoy doing, from my computer, in my study, in my own home, and at my own time.
My answer: I do holiday letting, consult businesses, and perform tasks and grow my business on Steemit.
What would I do if STEEM fell to $0.00001? |
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I know that there will be plenty of Steemians who will panic. Will I? I don’t think so, but I will get worried.
After all, I am investing my biggest asset, my time. I would not like to see it go down the drain.
But it will not be the first time that I will experience something like this. On 24 October 2018, 29 March 2019, and 17 January 2020, we experienced tumultuous periods of trading with stock markets crashing globally. It was a very difficult period for us, as my husband had various open positions without any stop losses. I can say that we paid our school fees.
It was a time that I learned;
- How to stay awake for 48 hours
- How to make zillions of cups of coffee and tea
- To trust the system
- To keep on praying, and most importantly,
- What goes up must go down, and what goes down will go up!
My answer: I won’t give up!
What would you do if STEEM reached $10? |
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Oh gosh! A situation we’ve found ourselves in plenty of times. A stock price rises, we sell, and guess what happens tomorrow? It even goes higher.
I am not going to bore you with another long story. No, I am going straight to the answer.
My answer: I will be in jubilation as I have made the right investment! I also know that I won’t be powering down. What if it goes to $12, $15, or even $20?
What do you use the resources you get with Steemit today? |
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I have a business, and the name of that business is Steemit, and for me to make my business successful, I need to look at three things.
- Operational excellence
- Communications
- Financial management
As I said earlier on, I invest my time. This puts me and thousands of Steemians in a good position. We did not invest financially, with the result that we don’t have to withdraw funds to replace the money we’ve taken from our savings, or worse, repay a loan, etc.
For many, Steemit is literally their "bread and butter." It often gives me goosebumps when I read how Steemit is helping people to survive, keeping their heads under a roof, repairing their homes, paying the children's school fees, and so much more.
My answer: I am one of the lucky ones. I don’t have to draw from my Steemit account. All I need to do is manage my business by;
Posting and voting (operational excellence)
Commenting and supporting (communication)
Powering up (financial management)
In closing, is Steemit work or support?
Steemit takes a lot of work, as you cannot make a success of something if you don't work hard, but it cannot be a full-time job, not in South Africa.
Steemit is there to support and help everyone, anywhere, and at anytime. Just do it wisely and trust the system.
I invite: @kouba01 @aaliarubab @sailawana
Account summary:
Club100
Transfer to vesting: 1,983.045 STEEM
Normal transfer: 41 STEEM (Contest prizes and charity)
Vote @pennsif.witness for growth across the Steemit platform through robust communication at all levels and targeted high yield developments with the resources available.
The thing that attracted my attention most in this post is the aspect where you said you don't withdraw your steem but you only power them up as well as transfer them for Charity and contests.
I wish I can be better than this, not withdrawing from steemit as a result of getting a bigger source of steemit.
I will be like this soon ma, guess when. When I become a professional barber 💪
Am glad and surprised you specially mentioned me to view your post, your post is awesome and unique, I give you 9.8/10, bye🥰.
Thanks for the visit and for the engagement.
Just remember, you support your parents with some of your Steemit earnings. That is HUGE my friend. I believe that one day you will get it back, in double! It is a privilege to be able to be supportive of your family.
You are right, the day that you become a qualified barber, your life is going to change for the better.
Whatever you do, keep on writing, voting, commenting, and powering up.
PS: Thanks for the score 🤛
What a wonderful morning advice ma, I really appreciate it. Have a nice day 🤜
Thank you, a nice day and weekend to you also!
I can understand your early feelings about cryptocurrency. I felt the same way even about steemit. I received a lot of encouragement to keep posting and powering up before I could pick up.
I agree with you that circumstances, economy and individual preferences determine if one will take steemit as a work or support.
You have been and still a successful business woman a d you are doing same with steem as you are constantly saving up and powering up your earnings.
We will definitely panic when the price of steem goes down but that will be the right time to buy and hold steem because like you rightly said, what does down will have to go up as is with other cryptos.
I am glad that you have your hubby by your side who encouraged you to look into steemit again and here you are, meeting someone like me and more. Success to you dear friend
Ah, my dear friend! I thank the Lord for putting me in touch with you. You were the one who set me on my Steemit journey. I will be forever grateful for you answering that first message of mine. Best of all, it was not the last message. Thank you! 🎕
You are right, I failed to mention that I will definitely buy Steemit if it has to drop to a low. I'm dead sure we will see a few orcas emerge.
Thank you for the visit and the engagement. It is always nice to read a comment from you.
Very inspiring publication you have share with us..
I absolutely agree with you about steemit take a lots of work but also theres a support for anyone who never give up to work hard and costistency..
Thanks for invite me to the contest. I will prepare my entry..
Have a good day..keep smiling!!
Thank you for the visit and the support! 🎕
I am eager to see your post. I know for a fact that it will be good.
As long as we have the right attitude on Steemit the rest will follow. That I have seen time and time again. Don't expect, but wait patiently to receive. It will come.
Thank you, and a beautiful day to you also.
Que bueno que te está yendo bien con tu negocio de alquiler vacacional, realmente es una buena apuesta. Estoy de acuerdo contigo que eres afortunada al no tener a Steemit como un trabajo principal para el sustento diario.
Existe mucha necesidad en el mundo y he podido observar que muchas personas en mi país (Venezuela) dependen de las recompensas que les pueda deparar Steemit pero es una situación que puede empeorar por la volatilidad de las recompensas, así que hay que buscar otras fuentes para apalear la situación. Vivimos una situación económica terrible.
A pesar de ello Steemit es una plataforma genial, un gran espacio de interacción e intercambio cultural, educativo y del conocimiento, es un espacio para el aprendizaje.
Te deseo muchos éxitos en tu casa vacacional y que sigas disfrutando de aquello por lo que has luchado e invertido tanto tiempo y recursos.
¡Un gran abrazo!
Times are tough for a lot of people. It was a wake-up call for us when we realized that what we've put away is not enough for us to retire on, and we had to look for an extra income.
What is nice about the holiday letting is that you don't have people staying here permanently. They come and go, and if you feel you don't want guests for the weekend, you just close the booking.
Steemit is a helpline for many. I am so grateful for that. I often wonder if the Steemit team knows of the good deeds they are actually performing.
Thank you! I appreciate your visit and engagement!!
Hugs right back at you!
¡Saludos, bendiciones para ti!
Thank you, blessings to you also!
#saturdaysurprise
Oh my word! A surprise indeed!
It is 0:45 in South Africa, and I am sitting here preparing a document for some of our Nigerian young friends who is introducing Steemit to schools and universities. I have no idea what's been going on in the world of Steemit for the last couple of hours.
Thank you, @mile16, for bringing me the good news of #saturdaysurprise
As for the team, THANK YOU!!!
To my fellow Steemians, miracles do happen, even on Steemit! Never, ever, ever give up!
🥳😍🤣🤣 me alegra saberte tan feliz por tu regalo sorpresa cariño, así es los milagros existen y la idea es no rendirse nunca y seguir avanzando por ellos, el equipo steemit valora tu trabajo y todo lo que haces por nuestra blockchain 😍 Disfrútalo!!!
Espero que ese proyecto sea todo un éxito porque esos jóvenes aman steemit y están haciendo un gran trabajo amiga, gracias por ayudarlos 😍 mil bendiciones para ti por ser tan bondadosa .
Ahora felices sueños 😍
Thank you! I had my four hours sleep. (•ิ‿•ิ)
Also thank you for your kind words.🎕
Wow this is an exceptional initiative which will encourage users and more quality content. Kudos 👍
This is the biggest surprise I have seen in steemit. I now have huge hope to keep on working hard in steemit. I believe myself 💪.
@tipu curate
Upvoted 👌 (Mana: 5/6) Get profit votes with @tipU :)
Thank you!
Thank you for your support and your kind words.
I've replied on one of your posts and shared a few links that can help you with your Steemit journey. One of the links is about commenting.
You can earn from commenting on posts but you must make them count. They must be relevant and of good quality.
You can check your engagement with the following tool;
https://steemseven.com/seven/
Once in the program just click on
It's a pleasure!!
Good luck!
I can say that I am pretty much in the same boat as you, barring that I have spent a couple of hundred USD in phases.
You know I have been here for a little over a year, and my calculation is the same as yours. However, I have yet to see STEEM cross 30 cents, although I know it touched $9 a couple of years ago.
I also have no desire to power down, but at a later stage, I would want to trade with my liquid Steem for a change.
You are right, what I earn here in a month is what I make in less than one hour offline. Let me admit that I enjoy myself here as long as I am free and not back at work.
I loved your details, especially the expense sheet because it is practical and unavoidable.
Row, row, row your boat gently down the stream."
See, you bring the best of songs out in me. (•ิ‿•ิ)
As long as we row the boat, we will be fine, and so will Steemit.
Guess what? I was there when Steemit was $9, but I didn't grasp the concept of crypto.
As far as stocks are concerned, I have learned that nothing is impossible. It can be the same with Steemit. Maybe not today or tomorrow, but in the months to come.
Lastly, I'm using my TRX to trade. It is not a lot, but I am learning. Another thing that Steemit is teaching us.
Best wishes and thanks for the engagement.
Thank you, I withdraw TRX, convert it into STEEM, and bring it back to Steemit. I think that's the right strategy for me as a beginner but maybe later I will try some experiments on outer exchange. My best regards.