RE: Musing Posts
The only way to live of your Steem income is if you are one of the top Witness or you are involved in a project that pays very well. I have worked on this question for the past few months and have come to the conclusion that it is not possible for Dolphins(more than 5000SP) and Minnows(More than 500SP) to live of their Steem income at the current market rates.
At the current prices you need to have almost 26000SP for a $1 worth upvote. Since we can all cast ten votes with hundred percent voting weight per day..... if you assume that you give 3 of these votes to yourself and 7 to others the you'll get a total of:
Author rewards + Curation rewards = Total rewards
3X(0.75) + 7X(0.25) = $4.
Since other people would be upvoting you too, so lets add at least twice the amount you earned for yourself. This brings your total to $4 + $8 = $12.
Now if you are able to live of 12 dollars per day, then I am happy for you. I can maybe do my food for 12 dollars but not my rent, electricity, bus pass and internet. Also remember that if you keep taking money out than your Steem account, then you won't grow.
If Steem prices were $3, then you'll get maybe 48 dollars a day. Now this seems like some decent money. But the thing is that I have done the above calculation assuming that you have 26,000SP - That is a lot of Steem power and most of us don't have it.
Personally I don't believe in treating Steem blockchain as my personal ATM, so this won't work for me anyways.
Your calculation is totally erroneous. I only produce curation rewards at 2000 sp (26 $ monthly), so at 26000 sp they produce at least $ 300 at current price.
I suggest that you read again - I said $12 DAILY - not monthly
I did some quick raw calculations for myself the other day, and it gave me that I need 27 dollar/day worth of steem just pay the minimum.
Thanks for pointing it out - Can you show me your actual calculations?
https://steemit.com/steemit/@broken.akay/thought-003-can-you-live-off-steem-money
This was my original post when I made the calculations, but I didn't put the details on it. But here are the details I had on a TXT file.
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15.000 Steem power = 0.003 SBD = 0.008 Dollar/Euro Fiat
10000.00/jaar (euro)
28.00/day (euro)
12 SBD/day = 60000.000 SP
To upvote yourself enough to get 12 SBD you will need 80.000 Steem Power.
So if you upvote yourself with 100% with 80k SP, you should make a decent living.
( I think I went from 60k to 80k because of the 75%-25% rule )
///
So that was my calculation, but that is completely not relevant now since the value dropped and this is calculated in SBD. I do need to do a new decent calculation, especially now that I understand more of the system.
I am not sure how reached the conclusion you reached to (in your calculations) but here is what you I think is need to earn a 10K a year:
10,000/365 = 27.3972602739726
1 SP = 0.000036292 Euro
75491.18338 SP = 2.73972602739726 Euro
Therefore ten full self upvotes at 75491 SP a day can give you a 27.397 Euros. This is only when you have gused all you voting power for self upvotes.
I am still not sure why you said
because both my calculations are mathematically sound.
Oh, I didn't said your calculations were erroneous, that was that other guy. But my calculations are from when 1 SBD was 0.99 if I remember correctly. So it doesn't hold truth now. And my calculations are for giving yourself just 1 single upvote. I surely will make a new one, or better, write a program for it.
Sorry! My mistake!!