What grows at over 1% every week? (running calculations)
Welcome to the 3rd weekly installment of my series looking at Steemit income and growth!
In week 1, I decided my goal is to get to the point where I have enough Steem to generate a small income, by contributing valuable content to the blockchain. Income on Steemit is generated both by "investment" and by "work". The more Steem you have, the more you earn. By regularly contributing unique content that adds value, you can earn even more. My goal is an average weekly income of at least 15 Steem.
What is my weekly income right now?
In week 2, I decided to consider Steem (and income) from all accounts that I own, and that my wife MediKatie owns, and accounts started as group projects with my funds. That's currently @drutter, @medikatie, @greatesteem, @hempy, and @girlsofgreen.
At week 1 we had 840 Steem, and at week 2 we had 848 Steem, a gain of 0.95%. Now there's a data point for week 3:
Week 1 - 840 Steem
Week 2 - 848 (+8) (+0.95%)
Week 3 - 862 (+14) (+1.65%)
Average income = (+8+14)/2 = +11 Steem per week = +1.3% per week
Before I get TOO excited, I have to realize the previous week wasn't a typical one. We had several "big" (for us anyway) posts pay out, and I don't expect that pace to continue. Nevertheless, it does seem to be confirmation that a weekly growth over 1.0% is possible.
At 1% weekly growth and starting with 862 Steem, how many weeks until the goal of +15 Steem per week?
+15 Steem per week would be 1% growth on 1500 Steem, which would be obtained after just 56 weeks!
Some initial capital and a year of full time work. That's a significant investment to a project, and I believe someone who does that can expect to be compensated. In this example, I'll be drawing about 50 Steem per month as income. In a year, if Steem is about $4 each, I'll be making about $200 per month.
Two variables are key:
- My actual weekly growth rate. (I'll get closer to calculating that as more data are available.)
- The price of Steem. (Since I can't spend Steem on rent yet, I'll have to convert into dollars. If the price of Steem stays this low forever, I'll need much more of it, and it will take much longer to reach my goal.)
Until next week's update.... Steem on!
I'll help us get a click closer with this comment, haha :)
Such a brilliant, insightful comment deserves a 100% upvote!
Hahah, right back at ya, fishy! :P
In all seriousness, we appreciate your considerable friendship and support. Thank you.
Likewise, you and your ganjagirls are doing hellagood work!
Great write-up @drutter on goals and where you want to go on this platform. Good insight.
Thank you! I hope it's a starting-point for others to compare their own situation to, and think about their goals and how to achieve them.
I've resteemed this post to my gorgeous followers.
Love the. Math! Keep it going!