Vlog #26: Could I live of the Steem blockchain?
I realized tonight (and for a while now) that the work I do is not the work I want to do till I'm 67 (Dutch pension age).
I can say that buying STEEM on the downtrend was probably one of my biggest risks takings and it appears to have been a good decision so far. And maybe my salvation, lol!
Tonight, I was wondering if it would be possible for me to live off the Steem blockchain as a content creator and curator.
Living off Social media has happened before on Youtube, So I can see it easily happening on STEEM for many users.
I have always said that when STEEM becomes more popular the blogging difficulty will go up and it will be tougher and tougher to earn STEEM tokens through content creation.
It's simple math. More users trying to get a part of a fixed reward pool.
The dollar value of the payouts can still increase if STEEM goes up in value but you will get less STEEM tokens for the same effort.
This is excellent news for anyone that already has STEEM tokens. And one of the reasons I think having and holding tokens now is smart if you enjoy blogging and if you believe the platform will get bigger in the future.
Finding a steady income
To live off the Steem blockchain I need to generate a steady income. Steempower is the key.
I can't sell the steempower I have, even though it's worth a lot and live of that. (it's not worth enough yet)
I need to use this to generate more STEEM so I can live off that.
This new STEEM can come through blogging and curation rewards.
When the real big powerhouse content creators come to STEEM I'm not sure if I can compete with them :) I'm realistic enough. So I need a backup plan for blogging.
And for me, that's curation rewards.
Curation reward is like interest on the bank. You earn it by giving Steem away to other users (I love this part! If I try to explain this to people that live in old thinking then their brain just explodes.)
And If curating generates enough new STEEM for me that I can live off I'm where I want to be.
Right now I earn around 180 STEEM per week curating. I calculated that with that amount and $4 STEEM I can make it. That's a steady income I can build other things on.
Man! Isn't it fun to dream sometimes :)
I talk about it more in my vlog.
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It's certainly doable, imo. My wife, @kotturinn, actually just quit her minimum wage job to get more serious about the Steemit and Golos communities. At her current rate, she's making quite a bit more than she would at her minimum wage job. Like about 5 or 10 percent more.
Man, that is great to hear! Already 5% more! And the room to grow here is much better too! Awesome!
Here's a little article she wrote about it recently if you haven't seen it https://steemit.com/steemit/@kotturinn/will-steemit-become-a-threat-to-minimum-wage-jobs
Saw it this morning. I think it's so cool she making more on Steemit than from her previous job. I just put her on my bot. I want to support this effort fully. She could be an amazing example of someone who did it.
That's awesome of you! It's extremely appreciated more than you know. We both hand curate who we put on our bot. Our criteria are people with significantly low stake that set a good example and try hard and also people who consistently create great content and try to bring others up. Without great community members, this place is zero, zilch. It IS the people.
Needless to say, you've been on our bot at 100% voting power for a very long time now :-). Keep being the pillar of the community that you very much are!
Wow, thank you, that's incredibly nice of you to say. Let's hope she will find her freedom through Steemit like hopefully many in the future.
What is a Golos community?
Russian fork of Steem. Even looks exactly the same. They didn't even bother... :'D
the best time to quit working is when you have earned so much that you feel silly for going to work, like have about $20,000 in the bank from steem first, plus a steady income.. then you will naturally quit working, and live off blockchain
like when you sell 2500 in bitcoin only to have another 1k show up?
I agree. Having a buffer in the bank is smart for things you can't foresee and after that is all about having the balls to take the jump. First I'll start by cutting off the contracts that restrict my freedom. That would be already liberating by itself.
And the funny thing is, this has already started happening with coin traders. People are making millions on crypto. Some blockchain developers are even being paid in cryptocurrency.
I think you can definitely do it! You're discussing something that I know a lot of people in the community are thinking about. If you make good content and are diligent about it every day, people will support your blog. I for one look forward to your blog every day! :) Keep doing what you're doing and it will continue to grow and you'll accomplish it! Resteemed
Thank you so much for your nice words. I agree many on Steemit must think about it for now or in the future. I certainly do every day. But I also think it's not the time yet for me, I need a little bit more security, but it is close and that is sort of exciting I have to admit :)
I've thought about this too. When the stars arrive, how will it affect the platform? They'll certain take a lot of the daily coin, but they'll also massively increase the value of the network, pulling in all their fans.
Hopefully, I'll be on a beach somewhere with my phone, upvoting and commenting when necessary :)
Haha! This sounds awesome!
Man! That doesn't sound too bad now doesn't it :)
What stops you from achieving and living your dreams is fear. You are great and capable of greatness. Face your fear. Cheers:) .
Thanks!
very nice post good work
Love the post. You've got a real level-headed approach to this platform. How many hours a week are you curating on steemit? Just a ballpark guess would be helpful to know.
Thank you. Hard to say tbh. I can tell you I spend around 3-4 hours a day atleast on Steemit (reading posts, making posts, curating) besides all the thinking about the platform.
I know you can do it! Your blog is full of value. You're very genuine and down to earth and discuss real life things. Your post the other day where you brought flowers to your girl friend at the airport was amazing. It resonated with me and I went right out and bought some flowers for my wife, just so I could see the look on her face. What you produce is real, there's no angle, and people appreciate that. I know I can only speak for myself, but you have a loyal follower who will stop in daily to read/watch your blog. Keep up the great work!
I'm touched. Thank you so much for saying that. I hope she was happy with the flowers too!
I showed Bianca this reply and asked her if she thought me on Steemit is genuine/real. She said, yes for the biggest part, but you are always happy on Steemit (I am), but you can be grumpy sometimes too.
Usually when you're hungry and there is no food in sight. (this is true..I can't lie). But then again I never write on Steemit while hungry :)
So there you have it :) lol.
On steemit, I feel that I can just be me. And I have seen this in others too. For me the whole platform is life changing.
You're very welcome and it's most deserved! This community can benefit any who happens by, and I believe it truly is life changing, we just have to make sure we're operating on here with a full stomach. :)
It's Happening!
Was mentioning earlier today the 'pareto principle' with regards to how crypto can totally change the world...and it takes only maybe roughly 20% of the populating to hit the 'tipping point' in terms of mass adoption. Obviously you are way ahead of the curve...and an opportunity is ripe for creating that dream life.
I see the potential here on steemit as profound beyond our wildest imaginations....and that's saying a lot. lol.
Things work best when they are common sense based. Our world economy....markets...central banking doesn't really make any sense. There's a tremendous opportunity here for a small majority or regular everyday people to 'tip the scales' on the world stage and create an effective alternative to the traditional '9-5 grind'.
Steem On, The Dream is Live
You Have a Golden Ticket
Yes! I love this part. I can explain to anyone how the steem blockchain works but the world economy is a different matter!
lolol Indeed! It really is a tragic comedy at this point.
Something that comes to mind, is words from dan larimer...in talking about how eos release is going to function:
"It's best to keep things simple...as that way it can work for everyone and there's no unfair advantage.....But when the game theory is complex...it gives an advantage to those who understand...and a disadvantage to those who don't"
I think i paraphrased it slightly...but that's the essence.
Steem On Brother
re-steemed and going to reference you in my post i write about this.
I downpowered and lived off that for a while, I regret that SO much! So I'm glad you're not doing that. I wished that I did look at this thing as a more long term thing. Luckily I woke up (just eralier today) and decided to keep my Steem Power and just invest in BTC and leave it in my digital wallet, not cash it out, as I've been doing the last year.
I totally think you can make a living out of this, I love your posts.
Hi, Susanne. Don't regret powering down too much. In hindsight everything is easy. You still have some left and it's not too late to earn some back :). I'm following your US story. Brings back memories. Have a good time there.