Question for Steem experts........
Let's say you wanted to generate a minimum of 48k/year income from blogging on Steemit as well as participating in the coming social media platforms built on this block chain platform.
In addition to that, a minimum of 25% of earnings would go back into purchasing additional steempower.
Let's assume that in regards to curation that I access 75% of my curation rewards and that I am average at content creation relative to others with similar EARNED, not purchased steem power.
What amount of steem, or a best, guesstimate, range would you think is needed in order to meet the 48k/yr ($less than $200/day) income goal that gets cashed out while 25% gets rolled back into steem power? How much steem power would be needed to create this sort of sustainable/growing model? Let's also assume that steemit share value increases at a minimum of 25% annual.
I realize there are many variables at play here so I'm just looking for your best educated guestamites. Thanks for reading and sharing your thoughts.
logo credit @nynameisbrian
nice info.. i am new here and i am a programmer. i hope i will get good result on steemit. :)
Welcome to steamit!
thanks :)
I am not an expert but I do like to share my opinion.
well from what you have provided and my level of maths, your goal is to make around $150 of steem a day. and that of your $200 goal, $50 would go back into the steem power.
and so the next problem, how would I make around $150 dollars a day? of steem, that is?
well, you would have to make some really awesome content, at least once every 3 days, which would allow for the payout of around, 12-14 steem dollars. so if the exchange rate is increasing then the SBD would be able to buy more steem, so less would be needed in order to make that roughly 12-14 dollar a day goal.
I say this goal as the payout per post takes a week for you to claim your reward.
so ill let you decide how much you should post a day.
as it is an inverse ratio of the quality/quantity sort of thing, if you can find a good equilibrium, you can make quality content in a quantity that would allow you to reach your yearly goal.
Although I am no financial adviser, there is one common rule of "money making/investing" is to diversify in order to not rely on one thing and to mitigate risk such as the stability of the currency.
or something like that.
I hope that this helps!
thank you for your time and I hope you have a good one!
How would 12 to 14 sp every 3 days end up being 40 or 50kper year or 150 to 200 usd every day. Not saying your wrong. Just wondering what I'm missing.. thanks for responding to him, I'm sure you answer is closer than mine. I just am wondering what variables I'm missing!
I was wondering the same
def appreciate everyone's input.
it has to do with the strength of the steem crypto coin, it is a random variable as market movements are ambiguous to say the least. it seems to be that the coin is getting stronger, so again that is just my guess. as the price moves up and down every day.
money adds up even if it is little by little. as you should know that SBD is not the same amount of "value" as USD or Steem. their values fluctuate, so it depends on the market's opinion so to say on what amount he will have to make a day.
so to sum things up.
currencies, their value fluctuates dependent on the market value at the time, since i am not sure what the price will be from one week to the next it would be difficult to give too exact an answer on how much he would need to make
i hope this helps and would be glad to further explain my reasoning. i get distracted when i write a lot so i can clarify on what is not understood at the best of my ability, it is really just my guess based on some "broad paintstrokes" so to say, if that makes sense.
i thank you for your time and i hope that you have a good one.
I understand market fluctuation- I have a BS in Finance and was in the Financial services business for 7 years. I completely understand that ctypto values will go up and down but for this scenario I included the assumption of 25% appreciation in steem/ year. I was looking for a reasonable equation/ solution as opposed to a comprehensive explanation as to how markets work.
google? then, there is probably formulas somewhere you can use to help make yours. fiddle around with the numbers, do some work, post ya results for others!
Nobody knows, the price can go up and down depending on how people perceive the idea of steamitt. We are all working together on revolutionizing the internet with cryptos. The internet will be very different in 10 years, just like it was before email.
assume 25% annual appreciation for steem- and yes I def see we are on the cusp of huge change- namely blockchain social media taking over- steemit is of course very well positioned for that change.
I would store as many as you can. Maybe use this as a hobby, other than a profession. Cryptos are a redistribution of wealth. When its time to sell , is when you get 10% of the world's GDP in cryptos.
LOL- i roll everything I earn into steem power so you could def say I store all I have. I'm not talking about strategies here as much as I am a specific formula in order to determine the specific mathematical question I posted.
That's actually a very easy question to answer. Zero. If you are operating strictly on your ability then the platform will pay you. It isn't a question of how much money you invest in the platform, but how much time and effort and the quality of content you put out.
I realize the effort must be but forth in content creation and curating but if I for instance had 17,000 in steem power compared to the 1,700 I have now then all of my curation would earn more as well as all of my posts (assume content quality is equal) - perhaps 10x more? Is that not how it works assuming I power up all the steem purchased? Can't purchasing steem power be used to leverage your earnings?
Well they are flattening the voting power curve right now, so there is no way to really know that. Personally I wouldn't expect curation rewards to ever be a substantial part of your income. I have been in top 100 curation and earned like 20 steem in a week before.
Yes I realize curation awards are minimal but they increase with steem power too. I read today they are making the voting curve lineal therefore wouldn't it be fair to say then that if I had 10x the steempower I do now that I would earn ten times steem overall assuming I maintain current quality of content?
I used to have 10x the steem I do now and I still don't make shit from curation. I'm not going to give you false hope. If it happens awesome, but I wouldn't bank on it. If you want to invest in steem then invest in steem, but anyone telling you that having X amount of steem = X income is lying to you and not being honest. I won't just tell you what you want to hear.
Again I realize curation is a minute portion of potential income here although the hidden value is of course that those you upvote at times hopefully upvote you at times. Either way throw out the minimal curation awards and assume prolific content creation. LOL- I'm not looking for promises from anyone nor do I have pie in the sky expectations of anything- I was merely wondering what an educated guess might be. Don't worry I won't sue for poor career counseling. : )
My advice is the same, if we aren't factoring in curation rewards, which I don't, then how much steem you hold is pretty much irrelevant. Look at the introduce yourself post section and see all of those accounts with borrowed steempower that haven't even become "vested" yet. In my mind, the only thing I would consider is author rewards at this current time. Author rewards should be easy to hit a few hundred bucks a week on, but to replace a salary like that, I think your expectations are higher than you think. For me to be able to survive off steem as an income source I got rid of 90% of my bills and said "if I end up homeless I don't care" and I just went all in on it. I don't make a huge amount of money here, but I don't really spend money much either. It's kind of "what are you willing to give up to have a life where you aren't working as a slave for someone else."
60k a year initially (because that's your 48k with 25% added onto to rollover steem power) with 25% less every year? And I'm going to say you will need to start out with a big chunk in order to have enough voting power to matter. I don't know. I smoked to much and I might be missing some variables haha. Hope someone comes along and does better guestimating then me!!
48k? Hmmmm I wouldn't think it need be nearly that much- but thanks for your input!
I believe you can make as much as you desire. I'm only a week in and have learned so much about the platform. I've reached the stage of I don't know what I don't know. There are so many ways of steeming in a more efficient manner that I don't know about even tho I read everything and watch what's available. Steemon!
Interesting question, but I think there's way to many variables to try and answer such a big one like this properly. The fluxuation of STEEM each year will directly change your profit every year, along with the content you post. I'd go with @drpuffnstuff at somewhere around 60k to be able to reinvest the steem power you want. Great post though.
And as your steem power and amount of followers goes up, so probably will the money you make each post. I'm looking at it as. Maybe in 5 years I can power down and go on a vacation for a week or 2. And if it does better than I can be happily surprised. Expecting to get 50 or 60 k would stress me out too much haha! I would be more behind everyday. But regardless, good luck thelightreports on your quest. I hope you succeed!
hahaha i'm so with you on the stress!! 48k a year? It would be so stressful If I already wanted this to be my full time. But im with drpuff, wish you the best on ya quest to big $$$!
Really? You think that mush as well? I've averaged earnings per day of $15/day since signing on in January (overall account value/ day in)- and about 6 weeks of that saw little activity. I'm thinking with 2,000 in steem and assuming my current ability to generate through content creation that with 20,000 in steem and as I said at least 25% annual growth in steen value that I'd be able to meet my $200/day goal. I'd think with 30,000 steem power it would be a layup- No?
It still seems like your cutting corners on these assumptions though, making a 15$ post and making a 200$ post is not determined by steem power alone. It really is content, somebody with low SP can make 200$ posts daily while someone with 2000 SP makes 20c. Your current ability to generate through content creation is 15 dollars a day, having 20,000 in steem power wont necessarily translate to those posts being worth 150$, if it's the same content.