The Opinion Chat #2: If Steem Was High Enough In Value, Would You Quit Your Job And Work Full-Time On Steemit?
Let's say steem hit $100 a unit and you were making the exact same amount you were making from work. I mean the exact same. Would you quit your job and post full-time? You have the advantage of building an account, which is yours, and the money can always go up. On the down side the value could crash and you miss all the other perks of a steady job. You can keep your job and still make some money off of steem but it will be significantly less.
I work freelance so this already is, in a way, a part-time job. But if you work a 9-5 job, what would you do?
*my upvotes/rep disclaimer: https://steemit.com/steemit/@whatageek/my-steemit-account-where-i-stand-on-bots-self-votes-and-multiple-account
For me, Steemit is another source of income - not my only source. That is the trick to making money, multiple streams of income. That way, if one stream is drying up, you have others that are hopefully flourishing and bringing up the slack while you find new sources.
The belief that Steem will go up is why I offer many of my PR services here for about 1/4 what I charge for them on sites like Fiverr or Upwork. I know it is a gamble but I feel it is a good gamble, and I have time - I am not hurting for money to cover bills from my Steemit earnings (I have other sources doing that leaving my Steemit efforts time to cultivate and grow naturally).
I agree 100% about the multiple streams, the way to do things now-a-days. And I think it is a smart gamble, if I had to guess I would say steem hits a dollar by years end. Now I wouldn't risk it being my only job, but, like you said, if you have the time and money it is a good choice for freelance work.
No! Don't do it!
Lots of people did this last summer. Then the price tanked. Then they got really upset and lashed out...blaming pretty much everyone but themselves.
Don't gamble on potential money in your pocket. It's not yours until you have realized the gains. If you have already pulled the money out and it's enough for you to live comfortably, then that might be the time to consider whether or not a steady income from an actual job is no longer necessary. Speculating on prices and hoping that they remain high isn't a good replacement for actual income.
But it sure is fun to dream, isn't it?
Good advice. That was my plan to get enough of a nest egg going that I don't have to worry about money. But you naturally think like that when you work freelance.
But if the price was 100% stable (which would never happen) it sounds like your on-board.
I quit my job 2 years ago (with a big bank) to become a freelancer. Currently Steemit is just for fun, but if I could make the same money from Steemit that would even be better, because:
Yeah I am a big fan of number 1. You can work anywhere, even while traveling. And it is pretty sweet to literally work on what you want to. But you do have to pay taxes on it, I think it is considered investment income in Canada, at least if you bought it and made a huge return. Which means you pay on half (like bitcoin), but that might not be the case as you are getting it per post, you might be taxed on all of it. Maybe you pay full tax on the value you make on posts and then %50 on the value that you made from the increase. Make sure you do your research when tax season comes.
The location independence is really a big thing. I have some friends who moved to Chiang Mai where they have a kind of hotspot for digital nomads. They all work on someting that you can do online:
living expenses are liw there and quality of life is high
taxes is a big bitch in Germany where I am currently based. as afreelancer you look at your bank account and laugh and then cry because you have to give almost 50% to the the state -.-
I would still love to see Steemit as a crowdfunding platform, too. So if you wanted to work professionally for Steem as a writer, programmer, whatever, the community could fund that...
could go on for hours on this.
what are you working on as a freelancer?
I am looking for a new project that has something to do with blockchain and can be done remotely!
Yeah it really is a liberating network for a lot of freelancers regardless of their work. That is a good idea, you should write a #growth-ideas post to let people know, they are looking for ways to expand the network.
thx will do that =)
In Germany income from Bitcoin is taxed as capital gains so you only pay Kapitalerstragsteuer oder den persönlichen Steuersatz, wenn dieser niedriger ist (was bei Familie+Kinder+Absetzen leicht sein kann).
This coin should be the same. At least for the moment ;) Don't tell them it's pay-per-post and you should be okay :D
What does that translate to?
Kapitalerstragsteuer: 26,3750 % without church taxes, maximum 27,9951 % with.
(In Germany you decide if you pay a church tax or not and towards either catholic or protestant church, the other "state acknowledged" churches (muslim or jews for example) are not doing this)
Personal tax rate is of course very varied, very low income (where you get social security) is 0%, then it starts with 14% for following money.
It doesn't seem to be a realistic future - the price up to 100$ AND the rewards not changing.
If Steem ever will get that value, the platform will be then very different - and more crowded.
Ya one has to give. I see it like this, the more people on the site, the higher the price and thus the reward thinning is balanced by the coin value. You just hope the value goes up a lot higher in comparison o the users. But that is why we need third party steem apps, if steem has other users it will really help the price.
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Maybe if they removed flagging or implemented optin/optout but for now @berniesanders is still killing every single payout i should get.
I think that will need to figure out flagging after HF 19.