Steemit Could Replace Your Full Time Job

in #steemit8 years ago (edited)


Steemit is brand new and already it is part of the daily process for multiple people to earn $2,000, $5,000, $10,000, up to $25,000 on individual posts. Steem it could eventually replace minimum wage and even good paying jobs, and while replacing these jobs it isn't taking them out of the job market, it is creating new jobs. Which makes Steemit a Job creator, and there is no limit to the number of jobs it can produce.

Just as an example of the sheer job creating power of Steemit, there are examples of people paying Bills with Steemit, people paying Rent with Steemit, and even someone paying someone on Steemit STEEM to order them a pizza in an attempt to live on nothing but STEEM for 1 month. There are Marketplaces that are going to be opening up. Think about the first post that shows someone buying a Ferrari with Steemit money, that will definitely make it to the Trending page. Say there is someone working a 9 hour a day job, hating it, but making good money. They might hear  about their friend the fast food worker who was able to quit their job and make a living through Steemit. The person sitting at a desk all day hating their job might start logging on Steemit during and after work, and making a little money here and there, maybe eventually even enough to justify quiting their own job.


And these people quiting their jobs won't just be adding useless content to the site, they will be quiting because they are making good money, and if they are making good money that means they have money to spend on Cameras (Picture and Video), Computers, Hardware (Music creation, Cooking, etc) Software (Programming, Video Editing, etc), Books, Gas & Plane Tickets (For Traveling), etc etc etc all of which can be used to add valuable content to Steemit. 


As the prices fluctuate this may change, but currently if you hold $2,500.00 in STEEM Power, your account creates about $5/hr in interest. That would not be a lot if you were making it yourself working 8-12 hours a day, but $5/hr 24 hours a day, 7 days a week, is more money than you can make working minimum wage. So once you have $2,500.00 STEEM Power in your account, it's like having 2 minimum wage jobs that you never have to show up to in order to get paid. And the more STEEM Power you have, the higher that number goes, which will allow people to not just live on Steemit earnings, but to live on the interest gathered by their STEEM Power, which some people are already doing.


Steemit is changing Lives

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Is there any way to get that interest without powering down completely?

In the White Paper it says that STEEM Power can be taken out in 104 equal parts over 104 weeks (2 years), to make that easy lets just say 100 weeks, and say you have $10,000 STEEM Power. That would mean that every week you could take about 1/100th of that STEEM Power out. That means you can take out $100 in a week, but then you earn interest on top of that.

You would have to have around $50,000 STEEM Power to actually be able to justify quiting your job, unless you are getting really good payouts on posts, because then you could supplement the STEEM Power interest with STEEM Dollars. Also, as the interest accrues, you can take more and more out every week.

I'm not saying everyone can live on the interest, I am just saying anyone could if they put the time and effort in to Steemit.

So interest continues to accrue as you withdraw?

Well, in the example given, so say you have $10,000 STEEM Power, you can withdraw $100 a week. But you are making over $10/hr. So in 10 hours you have $100 added. If you put all of that in to STEEM Power, then after a few weeks or months you could have $20,000 STEEM Power, even though you withdrew $100 a week, allowing you to take out $200 and earning you more interest. Then say you got to $30,000 and $50,000 STEEM Power, those would allow you to take out $300 a week and $500 a week, while earning you even more interest than you were earning when you were taking out $100 a week. So as long as you put your interest in to STEEM Power when you can, you will continue to get more interest. And if you continue posting and curating, all factors will continue growing. Right now @guerrint (who made the Makeup Video) spent probably $0 on STEEM/BTC, and had to wait 0 time for interest to accrue, and if all of the $25,000 she earned was put in to STEEM Power, then in 1 year and 2 years she could be living 100% on the interest.

Awesome thanks for the explanation!

I agree totally but I don't think I would want it to replace my job I love what I do. I love steemit too so I do it both.

HAHA funny gif.. and heck yeah good points!

Here is a video I did to help :D
https://steemit.com/new/@stealthtrader/steemit-vlog-2

Fantastic :D Upvoted

Nice, gotta get upvotes. ô‿ô

Steemit is my full-time gig (lol).

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