These days when browsing the Steemit blockchain I see a lot of people with more or less my amount of SP saying they will live off Steem and blogging...
I personally do believe that crypto is the future and its a smart move to invest in them (and gold) especially right now
This is an evolution in the crypto space and indeed the next step but personally I do not see this as a very smart move RIGHT NOW If you are only invested in STEEM
Unless you can live off Steem passively I would not do this.
How to live of steem passively ?
well there are as far as I can tell 2 ways and those have to be in line with what you morally accept on this platform.
- selling your vote
(this starts making tangible revenue as of 40ish SP) I prefer this to the delegation since I keep full control of my Steem Power here you can go to services like @minnowbooster and @smartsteem and basically sell your surplus voting power. - delegating your vote
here you lend out your SP and for this you get paid and this is done through services provided by @minnowbooster and @buildteam or @blocktrades. This is a case I personally like less because you do not have the full access to your Steem power when doing this and your vote is worth less because of it.
Basically just living of your posts is not a smart move because you are counting on always receiving a certain amount of votes all the time.
What if for some reason you are unable to post for a week, this means you do not have any income the following week. If this platform is then your only source of income that might mean a lot of trouble for you.
My experiences with this so far
Now I have close to 1000 SP and am selling my votes on Smartsteem and Minnowbooster and am also delegating part of my SP to Smartsteem. If I receive a payout from my delegation I just convert this to steem, power it up and add it to my delegation. These are small amounts but they are starting to add up.
My voteselling is more practical since every time I go over 90% voting power the smartsteem platform knows it can sell my votes. And if for some reason it cant I have minnowbooster set to take over if my VP hits 95%. This brings me on average currently 1 SBD per day using something that I would not be able to do myself. I still upvote blogs and replies that I like but when I am just living my life, the platform takes over and generates income for me.
Now 1 SBD per day would be about 150 dollar per month at current exchange rates and this is really not something one can live of in Europe but might be in other places. So I reinvest it in my posts and in SP in the assumption that this will grow my influence and thus my income.
if you want to earn from your surplus voting power as well, then check them out but smartsteem pays a bit more at the moment:
https://smartsteem.com
https://www.minnowbooster.net/
and if you want to have another delegation option:
https://blocktrades.us/unregistered_trade/sbd/eth
Hopefully in a far future this might be enough to live off but until then I just keep blogging, commenting and enjoying my time here on the STEEM blockchain and reinvest my earings.
The only thing I do keep in mind is that I do not want to end up in an understaffed state run old peoples home with no one to care for me just because I cannot afford decent care.
Steem and crypto are here to stay so I consider them part of my nest egg and the principle of a nest egg is a hedge against an uncertain future.
I wish all the ones that are going full- time steem the best of luck but I hope you have covered yourself in case of the worst
Live the best but prepare for the worst...
if you want more info you can usually find me on discord as felander#5662
do You know about this one https://steemit.com/bitcoin/@smarthamster72/weiss-cryptocurrency-steem-rating-b-and-bitcoin-c-what-next...... now B+...... also use (my gift for You) https://steemworld.org/@felander
Man, this info is GOLD. Thank you for sharing it brother.
UpVoted
no worries, happy to share... especially with you, you have given me quite a few worthfull tips as well. nice to return the favor
Your 6k would give you a decent amount of return, (6 sbd per day extra is nice)
Do I need to power down?
Nope, thats the beauty of it, it votes when you go above a certain voting power
Are u on discord? find me on there as felander#5662
i can give a quick rundown
Cool
In one way, I'm lucky that I don't have to deal with this just yet. I'm just focusing on getting my Steem Power up by posting and buying SP from time to time.
Going into delegation and passive income is something I'll worry about when I have around 1000 SP. Will take a while to get there at the current rate though.
hehe, but in your case you can already start earning from selling your votes... it will not be much but it will add up over time, you would make approx 0.1 SBD per day without losing any voting power
this is true, i just started selling my votes on smartsteem yesterday, but right now i've made more than i did the whole of last week!
congratz m8, but I see that you are using smartmarket or put otherwise you are buying votes
so chances are you are for example buying mine
So when you get to approx 40ish Steem power then you can start to do the same and will get even more
Yes, i just reinvested my earnings in from smartsteem to buy votes. But i'm still selling
ah, cool, another smartsteem fan...
you have a masternode?
Nope.
Please reply when you have time I just message you on discord @dop#2398
The ideas you have put forward do work to get you money but do not work toward building a better platform. If people are having their average artificially boosted then that doesn't encourage new users to stay. We should only upvote the best content. That will get us more users which will make Steem more valuable in the long run.
thats also why I stated:
this is not for everyone but in this case I would say that it is the middle ground. Smartsteem offers you the choise of selling your votes to everyone that buys upvotes or to those that are whitelisted on the platform and those are people that have been manually checked and post consistant content and not spam. In this way it partially guarantees the success of the blockchain
Blacklist spam is a very good feature. My concern is that, even it the best case, it promotes mediocre content. It is difficult to get exposure but I would rather have a high barrier to entry than a paid barrier to entry.
well the thing is, this is a blogging platform and what you might think of as mediocre might be the highlight of someone else's day...
It is very hard to judge the quality of something. IE i have written a lot of posts on my trip to new zealand and some might find this just a waste of space and others might think it is a really cool thing...
So blocking spam is essential, the rest is taste
Well, you convinced me to going Smartsteem, so thanks!
glad I could help, hope it brings you some profits...
Very helpful information. Thank you!
you are welcome
LIFE PONDN
My pondn
That's what we're hoping to do ... we've been giving away travel content for free (over 2k articles!) for the last 7 years making only peanuts income!!! Steem all the way!