Doing the things you love and being independent is the dream for most of us. Reality however is that many people stuck in a 9 to 5 job and with a mortgage to pay it is very difficult to escape from that routine.
Source: Pexels.com
Since HF19 (hard fork 19) however I see light at the end of the tunnel and wondered how much SP I would need to live from Posting and Commenting alone using Steemit.com, Busy and ChainBB.
First thing I did was to specify how I want to use my daily voting power.
- Use 20% for myself and 80% for up-voting posts from the community.
Than specify the amount I want to earn per month with self up-votes alone (20% per day for myself) that would cover most of my expenses and mortgage.
- 2000 USD.
With that clarified and the assumption that with the HF19 changes you earn 10 USD per 10.000 SP the calculation showed the following:
To make 2000 USD a month with 2 Full self up votes a day (5 days a week) I will need at least 50.000 SP.
I am now at the half of that amount and will use my post rewards and part of may salary to get to that number. The good think is that I have now a clear vision of what needs to be done in order to quit my day job.
The future is bright if you look at it from the right angle.
Source: Created by me :-)
What is your goal, how much SP do you need to quit your day job and how often do you intend to vote for yourself a day? Let me know!
Please don't forget to up-vote and follow if this post was interesting to you.
Thank you!
Thanks for sharing those calculations I really appreciate it because like you I want to make it my work :)
If one is determined to make steemit a success, there is no limit to what can do here. The community support is great. I would say it is a priceless platform. Can't be measured in dollars and cents really. The satisfaction of meeting and sharing with people like you is good enough for me. I am following you and hope you will be great success here!
Thank you for your kind words and agree with what you wrote about steemit and the community. This is an awesome place that has the power to make a real change.
I think to quit my day job I would need about that much SP. I would be just as happy to pay off a bill or two and have some extra money in my pocket. I really just like to have a good outlet where I can publish my quality content. This was a nice post to make me think.
Cheers,
@seanengman
I am glad you liked it and thanks for your feedback.
Interesting post, with being new to this i have searched trying to find a formula on how the SP is calculated and how much steem would make a SP percentage. If you have any information on this it would be interesting to see. Currently i am waiting on the certain sites to fix the wallets so that i can send the rest of my steem into my steemit account.
I need to refer the question to more experienced users here on Steemit but form looking at it currently it seems that 10 USD per 10.000SP (100% vote with full power) is a doable assumption.
Thanks for helping me answer my question. I am still far from that 50000 steem power but I think I can do with 1000 $ only, as I have some side projects also. I like you planning, I will try to adapt it on my own needs and rhythm and see what will happen:)
Thanks for letting me know, yes it is good to have a goal in sight.
thanks for the inforamtion ;)
So im Student and I´m not working at the moment^^
I wish I could say the same:-) But I believe soon if i keep doing the right thing here, I cam also earn enough to quit my job. Also, why do you need to use part of your salary? Kindly let me know. Thanks. Upvoted
With the other part I need to pay my bills :-)
Thanks this is a good discussion, i am prepared to write a story to compare whether you should put your money to steemit or to put the money to invest the mining rigs. Both are uncertain, but let say if hf19 turns to hf20 because they find the model not sustainable. Then it would be a big risk of not having a job.
Still, the money is nice now :)
You are right, my assumption is that the current reward settings will not change going forward. If they do than everything I wrote in here doesn't work anymore :-)
Interesting and necessary post for me. Thanks @tarekadam for thinking this. voted&followed you. :D
Hi @tarenadam , this is exactly what has been going through my mind since I started as a Steemit user. Not that income is the only motivator to be on Steemit, but it is so interesting how this affects the entire world and global economy. Are you thinking about quitting your job or is it just a thought?
Kind regards,
@steve-speaks
Thanks for you comment, I always want to work but as a freelancer. The additional income from steemit would take the risk of the non fixed income you have as a freelancer away.
Cool! What kind of freelancer would you think Steemit would be suitable for?
I use Steemit as a platform to share my interest with others. It is not work but pleasure. I like to do freelance work in the product design area and probably can share some of my work here on Steemit. The possibilities and application areas are so diverse like the users using Steemit.
I have no idea how much I would need but it would be up there. Would be nice but honestly I love my job and I love Steemit!
If you have a job you love than that is worth a lot.
What's sad is I would probably have about 50k SP if i kept everything I made since day 1
You have a high reputation and I am sure you can get there again eventually.
Nice article, I like it, I am also dreaming about it but it is a long way to go.. But do you think this last for 20 years? what if after 5 years it won't work anymore? How do you facilitate that..
This is one truly great thing about steem. It has the potential to free people from their jobs and gives them freedom, finally, to do what they actually want. It's amazing :)
I have not yet decided on the strength. But the more, the better. Correctly you all wrote.
considering you a forced to have health insurance in germany and pay money for your pension, yea, about that much would be needed
I am still far from quitting my job but the way you have put it yes it maybe possible for some. But the worry is that, as more users join, will the rewards not become smaller as it has to be spread out to more people? Also if the crypto bubble burst, can it take steemit away with it?
Right now I am just enjoying my time here and hope steemit does well for a very long time
Great post man.....u r genius @tarekadam
Steemit isn't a job, and can't be used to substitute for one, according to some rich rulers. Ask @berniesanders., he's been telling many people such things. You can't keep your rewards if he finds out you don't have a regular job. He keeps flagging people and telling them they need to go get a job. It seems to bother him if you make rewards, less than the top authors, if you don't have a regular job to keep you busy.
Well, good thing than that I have a regular job and it will take a good while until I have enough SP that would allow me to live from posting and currating alone.
from Why are some people allowed to keep their rewards, but others not?
Can you actually become a whale by posting? Fat chance.
So essentially, you can't be a whale from posting because you have to work a regular job. All the mega whales got that way through early mining when no one was around. So you work, then post, and then if you get successful you can keep your rewards. But I posted for 6 months and just reached 100,000 SP (without a job, posting 3-4 times a day). If you want to be a real whale of 1,000,000+ SP, well that's 5 years of posting 3-4 posts each day. Some people got that just by "ninja mining" for STEEM early on. Others joined early and got into the tens and hundreds of thousands just by posting. Did anyone flag them for making rewards, even if they had no job?
Great planning. Thanks for doing the homework for me ;))
Wouldn't it be amazing if we could all live on Steem!
I see many opportunities for creating wealth on Steemit, and there are a lot more than we are not aware of. The more time and focus I place on Steemit and think about creating value for myself and others, the sooner I create a model that works for me. I wish you success!
Thank you very much! I wish you the same and it looks you are on the right track!
I'm having only 51
But anyways thank You for sharing
How did yuo calculate that!!
I hope I got that right :-)
Thanks for explaining, got it.
Interessante gedachtengang . Moet je je voorstellen als de koers gaat stijgen de komende maanden. Dan wordt het een feestje!
That's really awesome! I would be happy to make just half of that.
Thanks great information following you now :) keep sharing
thank you for sharing
Good share, For investment takes a lot of capital, but is proportional to the benefits that we can.
How do you change your voting power? Can you give more or less?
What an amazing post. Thank you!