RE: The Steemit Dream, is it still alive?
You can't become a whale anymore really unless you put a lot of money in. I've been here for about 3-4 months now and did not put money in, yet I still have over 100SP right now, and I have been cashing out some SBD and SP in this past month or so because I wanted to buy some altcoins.
So all in all, I made about 150$ on this platform 'out of thin air'. While that's nowhere near to being a whale, I believe it is quite significant for something that I never invested any money in.
So does Steemit still work? Yes! You just have to be realistic and don't think you can just create $10K out of thin air unless this platform blows up big in the future. The big whale-level are probably out of reach if you join now, but you can still make money on this platform by working hard even if you started with nothing.
However, if you've already got a following on another platform and you can convince those to move here and upvote you, it's a whole different matter.
@pandorasbox I am just wondering how many days exactly does it take to have the crypto-money converted fully into $?
That depends on how you do it really.
First you have to send your STEEM or SBD to a cryptocurrency exchange like Bittrex.com, then you can sell it for Bitcoin. If you have the STEEM or SBD on your account on Steemit, this can be done in about 5 minutes or so.
Once you have it sold for Bitcoin you can do whatever with it.. Either keep it as Bitcoin, buy a different crypto, spend it on something, or sell it for cash.
I personally don't sell any crypto ever, but if I were to be so inclined I would find a website in my country that offers to buy/sell Bitcoin. Usually when you can buy Bitcoin from a site, they also allow you to sell Bitcoin. They take some fee, sure, but that's how you get it deposited on your bank. How long that takes is up to the individual companies, bank systems, etc. But it shouldn't take longer than a few days
Noted. By the way, can we not have full anonymity upon converting into $? I am wondering if that is a possibility.
Don't count on it, unless you somehow do it person-to-person (google 'localbitcoins', I think it offers this service).
But everything that makes it deposit on your bank account will forego any anonymity you had.
This whole blockchain and cryptocurrency thing I would not care listening to my college instructor if this was taught 10 years ago in school.
But now it's kind of we're obligated to study it outside the school. The irony of life.
It's not that hard really.. It is about as confusing as the internet was in the early days. Back then people were mighty confused when you talked about e-mail and servers and how it all works.
Once you've done it once, you will be able to do it pretty easily after.
Also, in the near future you don't have to cash out into fiat anymore. Just get a TenX credit card and deposit your crypto on there, and just do grocery shopping or whatever with it! No need to convert to dollars.
What is that TenX thing? I never heard of that before.
It's a credit card for cryptocurrencies! Go have a look here: https://www.tenx.tech/
TenX runs on a blockchain too, so it's got it's own cryptocurrency called PAY as well.
I know, it's pretty amazing to just make some money like that, without any investment but there are people that are doing a lot worse than both of us.
Sweet, I may start some trading but I'm still in the learning phase, I shall wait until STEEM raises in price so I can cash out some and invest them in other coins too.
If they don't fuck up, Steemit is going to get mass adoption in the future. We still got in at a good time since one year from now we will have a following so we will be able to make some decent money.