I realized tonight (and for a while now) that the work I do is not the work I want to do till I'm 67 (Dutch pension age).
I can say that buying STEEM on the downtrend was probably one of my biggest risks takings and it appears to have been a good decision so far. And maybe my salvation, lol!
Tonight, I was wondering if it would be possible for me to live off the Steem blockchain as a content creator and curator.
Living off Social media has happened before on Youtube, So I can see it easily happening on STEEM for many users.
I have always said that when STEEM becomes more popular the blogging difficulty will go up and it will be tougher and tougher to earn STEEM tokens through content creation.
It's simple math. More users trying to get a part of a fixed reward pool.
The dollar value of the payouts can still increase if STEEM goes up in value but you will get less STEEM tokens for the same effort.
This is excellent news for anyone that already has STEEM tokens. And one of the reasons I think having and holding tokens now is smart if you enjoy blogging and if you believe the platform will get bigger in the future.
Finding a steady income
To live off the Steem blockchain I need to generate a steady income. Steempower is the key.
I can't sell the steempower I have, even though it's worth a lot and live of that. (it's not worth enough yet)
I need to use this to generate more STEEM so I can live off that.
This new STEEM can come through blogging and curation rewards.
When the real big powerhouse content creators come to STEEM I'm not sure if I can compete with them :) I'm realistic enough. So I need a backup plan for blogging.
And for me, that's curation rewards.
Curation reward is like interest on the bank. You earn it by giving Steem away to other users (I love this part! If I try to explain this to people that live in old thinking then their brain just explodes.)
And If curating generates enough new STEEM for me that I can live off I'm where I want to be.
Right now I earn around 180 STEEM per week curating. I calculated that with that amount and $4 STEEM I can make it. That's a steady income I can build other things on.
Man! Isn't it fun to dream sometimes :)
I talk about it more in my vlog.
Follow Me @exyle
It's certainly doable, imo. My wife, @kotturinn, actually just quit her minimum wage job to get more serious about the Steemit and Golos communities. At her current rate, she's making quite a bit more than she would at her minimum wage job. Like about 5 or 10 percent more.
Man, that is great to hear! Already 5% more! And the room to grow here is much better too! Awesome!
Here's a little article she wrote about it recently if you haven't seen it https://steemit.com/steemit/@kotturinn/will-steemit-become-a-threat-to-minimum-wage-jobs
Saw it this morning. I think it's so cool she making more on Steemit than from her previous job. I just put her on my bot. I want to support this effort fully. She could be an amazing example of someone who did it.
That's awesome of you! It's extremely appreciated more than you know. We both hand curate who we put on our bot. Our criteria are people with significantly low stake that set a good example and try hard and also people who consistently create great content and try to bring others up. Without great community members, this place is zero, zilch. It IS the people.
Needless to say, you've been on our bot at 100% voting power for a very long time now :-). Keep being the pillar of the community that you very much are!
Wow, thank you, that's incredibly nice of you to say. Let's hope she will find her freedom through Steemit like hopefully many in the future.
What is a Golos community?
Russian fork of Steem. Even looks exactly the same. They didn't even bother... :'D
the best time to quit working is when you have earned so much that you feel silly for going to work, like have about $20,000 in the bank from steem first, plus a steady income.. then you will naturally quit working, and live off blockchain
like when you sell 2500 in bitcoin only to have another 1k show up?
I agree. Having a buffer in the bank is smart for things you can't foresee and after that is all about having the balls to take the jump. First I'll start by cutting off the contracts that restrict my freedom. That would be already liberating by itself.
And the funny thing is, this has already started happening with coin traders. People are making millions on crypto. Some blockchain developers are even being paid in cryptocurrency.
I think you can definitely do it! You're discussing something that I know a lot of people in the community are thinking about. If you make good content and are diligent about it every day, people will support your blog. I for one look forward to your blog every day! :) Keep doing what you're doing and it will continue to grow and you'll accomplish it! Resteemed
Thank you so much for your nice words. I agree many on Steemit must think about it for now or in the future. I certainly do every day. But I also think it's not the time yet for me, I need a little bit more security, but it is close and that is sort of exciting I have to admit :)
I've thought about this too. When the stars arrive, how will it affect the platform? They'll certain take a lot of the daily coin, but they'll also massively increase the value of the network, pulling in all their fans.
Hopefully, I'll be on a beach somewhere with my phone, upvoting and commenting when necessary :)
Haha! This sounds awesome!
Man! That doesn't sound too bad now doesn't it :)
What stops you from achieving and living your dreams is fear. You are great and capable of greatness. Face your fear. Cheers:) .
Thanks!
very nice post good work
Love the post. You've got a real level-headed approach to this platform. How many hours a week are you curating on steemit? Just a ballpark guess would be helpful to know.
Thank you. Hard to say tbh. I can tell you I spend around 3-4 hours a day atleast on Steemit (reading posts, making posts, curating) besides all the thinking about the platform.
I know you can do it! Your blog is full of value. You're very genuine and down to earth and discuss real life things. Your post the other day where you brought flowers to your girl friend at the airport was amazing. It resonated with me and I went right out and bought some flowers for my wife, just so I could see the look on her face. What you produce is real, there's no angle, and people appreciate that. I know I can only speak for myself, but you have a loyal follower who will stop in daily to read/watch your blog. Keep up the great work!
I'm touched. Thank you so much for saying that. I hope she was happy with the flowers too!
I showed Bianca this reply and asked her if she thought me on Steemit is genuine/real. She said, yes for the biggest part, but you are always happy on Steemit (I am), but you can be grumpy sometimes too.
Usually when you're hungry and there is no food in sight. (this is true..I can't lie). But then again I never write on Steemit while hungry :)
So there you have it :) lol.
On steemit, I feel that I can just be me. And I have seen this in others too. For me the whole platform is life changing.
You're very welcome and it's most deserved! This community can benefit any who happens by, and I believe it truly is life changing, we just have to make sure we're operating on here with a full stomach. :)
It's Happening!
Was mentioning earlier today the 'pareto principle' with regards to how crypto can totally change the world...and it takes only maybe roughly 20% of the populating to hit the 'tipping point' in terms of mass adoption. Obviously you are way ahead of the curve...and an opportunity is ripe for creating that dream life.
I see the potential here on steemit as profound beyond our wildest imaginations....and that's saying a lot. lol.
Things work best when they are common sense based. Our world economy....markets...central banking doesn't really make any sense. There's a tremendous opportunity here for a small majority or regular everyday people to 'tip the scales' on the world stage and create an effective alternative to the traditional '9-5 grind'.
Steem On, The Dream is Live
You Have a Golden Ticket
Yes! I love this part. I can explain to anyone how the steem blockchain works but the world economy is a different matter!
lolol Indeed! It really is a tragic comedy at this point.
Something that comes to mind, is words from dan larimer...in talking about how eos release is going to function:
"It's best to keep things simple...as that way it can work for everyone and there's no unfair advantage.....But when the game theory is complex...it gives an advantage to those who understand...and a disadvantage to those who don't"
I think i paraphrased it slightly...but that's the essence.
Steem On Brother
re-steemed and going to reference you in my post i write about this.
I downpowered and lived off that for a while, I regret that SO much! So I'm glad you're not doing that. I wished that I did look at this thing as a more long term thing. Luckily I woke up (just eralier today) and decided to keep my Steem Power and just invest in BTC and leave it in my digital wallet, not cash it out, as I've been doing the last year.
I totally think you can make a living out of this, I love your posts.
Hi, Susanne. Don't regret powering down too much. In hindsight everything is easy. You still have some left and it's not too late to earn some back :). I'm following your US story. Brings back memories. Have a good time there.
Fantastic post, my bro!!
You make an amazing case for holding on to our precious steempower, man! Financial freedom used to be a dream for many of us on Steemit but could now turn out to be a reality. Freedom from location too! Where ever you are in the world, your steem will follow!
You took a calculated risk and it paid off for you bigtime! And you know what? I couldn't be happier for you, my bro!
Keeping on climbing that ladder, man and steem on!!
He, man! Thanks for this awesome reply. I think you and @rea will prove to us first hand that Freedom from location is possible this week! Have a great holiday man!
I almost quit my job today. I'll check into this more seriously this month.
Man, it's crazy right, just thinking about these things. Just make sure it's a calculated risk :)
I think this is spot on and I would really like someone to create more and clearer information about curating. This part is so interesting for the biggest chunck of steemians IMO. Is this a good Idea for a post in the near future?
Cheers,
ernstjan
The rules for curating are a bit strange that not many want to touch the subject in debt. Including myself, lol. What I know is that if you vote on an underrated post around the 20-30 minute mark and it turns out to do very well you get a lot of curation rewards in the form of Steempower. If your vote carries a lot of weight because you have Steempower than you get more curation rewards than somebody who voted at the same time with less Steempower.
This is the biggest example I have seen of that:
https://steemit.com/curation/@ausbitbank/my-best-curation-reward-ever-321-sp-usd700-usd
@exyle @ned
I've been indeed trying to figure out how it exactly works but I still can't figure it out. There are examples but what the rules are exactly aren't that clear to me. Can anyone understandig the topic reading this give me some answers?
Thnx,
ErnstJan
10 dollar steem by Christmas! You will be laughing!
We'll all be laughing!!
That's very true!! Can't wait!
If this becomes a reality can I come over and try that bread beer? :)
But of course, there would have to be a beer festival!!! :0)
I'll have to invest like crazy before that actually happens. Hope i'm still in time! It is already hard to earn by blogging itself.
Once this big ole shop takes off it will go fast I expect! You are here now though so you have a great start!!
Thanks for the comment. Feels like a relief to be somewhere in time for once in my life.
And that's exactly the way to think of it. You got here before the stampede, you will be fine :0)
I agree @meesterboom! We were the early adapters and we are here before "everybody else". We are ahead! :)
Yay!!!
@s3rg3 you are still on time.
Great now if I only could find someone to buy an island with together 😉
We will be crying from happiness! :)
Totally man!!!
I share your thought and try to find a solution to everything you say in this videon too... Funny!
Hope we can Mate?!
Cheers
I totally believe it's possible to live off crypto. Some are already doing it, after all. It's my plan too, as I'm beginning to have more and more fun here.
How did you work out your curations rewards per week?
You can find your curations rewards under the reward tab on your own blog!
Yes thank you! So you added up all the pages there? I was just wondering if there was an easier way that I might not know about. That's a lot of pages and mini amounts to add up :)
At the top, it says, 'Estimated curation rewards last week.' That's where you can find it.
Aaaah!! Haha, duh!!
Thank you ;) That's the kind of "easy" I was looking for... 😂
What a wonderful goal..oh it would be so excellent..Cheers to DREAMS!
Cheers!
Hell yah you can! $127 from one post in 11 hours = Yes, you make enough in a few days to cover your monthly living expenses at bare bones level (im asssuming) and im also guessing your recent influx of steem has encouraged you to cut ur living expenes andunicary spendingd own to save up as much of these golden goose ggs as possible!
we should advertise crypto currency as the cure for drug aaddiction! u just stop doing drugs cuz ur obsessed with making money!
Good points about the increasing competition. Hopefully, the price of Steem will continue to increase to ensure rewards remain accessible for new powerhouse users as well as smaller users. It's ok to get a tiny slice of a really big pie.
I totally agree. I also think having Steem now is a smart move if you believe the platform will grow in the future because of this.
Excellent blog, you've got many people dreaming now. It's definitely an option for you at present and, if like the folks above say, the stars arrive you will be sorted buddy!
Thanks, man! It's good to dream indeed. Wouldn't it be something if it becomes real.
For sure! Taking a few hundred $ a day, at $2 steem would be plenty for me.
The platform is a year old but is clearly growing so why not, and why not steem at $10!
lucky that you caught that downtrend, smart move
I'm happy as you can imagine.
Nice article.. For now specialy for a new joiner in steemit its not good for quit the job. Its better to have work and enjoy steemit until you have a lot steem in your accout. Then the nxt move is yours if you want to quit working and live off blackcahin
I have literally just discovered STEEM and I can see so much opportunity. I have made YouTube videos but I never really thought I could make a living off of it.
But I could see that happening with Steemit.
Yes indeed @exyle ! I hope you can quit your "day job" and live your dreams. It is so worth it.
That would be the dream! Thanks, man!
Great read! It is totally possible to live of crypto (a friend of mine is doing this right now), especially in these times. Though I took some steem out to invest in other coins, I don't regret taking it out! I started with $2000 of Bitcoin just a few months ago (when bitcoin was around the $1000 dollar mark) and thanks to trading altcoins I turned the $2000 into more than $16 000. So sure I think you can live of crypto and should you hold on to everything 'cause it might go up... if everybody thinks like that and keeps holding on to all coins there is no market or economy... for bitcoin and other altcoins to be successful you need an economy and you need to use them. Though I have other income streams, I like to pay for some things with my xapo visa card which directly takes money from my bitcoin account! So yes I think you can definitely do it and start to live off crypto! Good luck in everything you do!
I guess there are many ways to live of a blockchain. I do think there is a small difference between living off your investments (trading) and living off the Steemblockchain with blogging or in essence earning an income creating content. I have a wirex card that I use.
True that! But for people who are just new or don't have as many followers it can be hard to just live of steem alone and trading can be a great tool to add some to it and make sure you survive the month! The blockchain can provide in many ways ;)
I see what you mean by more people on platform, less steem tokens to be redeemed. But at the same time, steem price will be going up, so less votes could still get you same amount of money. Curating will definitely help!
I think curation will be key in my freedom equation :)
Great post @exyle thanks for sharing
thank you!
I think for sure this is doable. I am wanting to keep a steady income as well just form the tips of my fingers and a click of the mouse. I think for sure we are starting in the best time and thats at the beginning. Good post!
Wow @exyle! I am blown away. I was thinking that Steem could be a side hustle, but I never thought about making it a full time gig.
Thanks for talking though some action points that can help newbies like me think through how Steem can be apart of our future income.
Great content!
thank you!
really nice post :) those are some awesome thoughts you have there ;)
Thank you!
It's a crazy thought, interesting times we live in.. btw if you have time check and follow my dog's new blog
Man that would be the dream come true
man, wouldn't it just!
The slogan here ...😉 power up on steemit, power down on your job!😉
lol! I hope so!