How long does it take to build a Steemit Account to a value of $1,000,000.00?
While I am new to this platform I am bright individual and prolific writer with a wealth of knowledge in a broad range of subjects. After a cursory review of the payment structure, review of top user wallets, and evaluation of the likelihood of financial remuneration for work put in I see potential here. I likewise see an inordinate number of posts by individuals lamenting their inability to make a return of any significance through their posting efforts on Steemit.
To that end I will begin a case study into the practicality of actually creating wealth using Steemit as a nexus between blogging and wealth building. I feel the time is actually correct for a case study such as this, as many that lose faith refuse to shoulder the blame and instead choose to embrace the ideal that only early adopters can generate income through Steemit; that competition is to great and getting noticed now is impossible.
In beginning this journey the only information I could find in regards to total user count hovers around 180,000 as of six months ago. I’m sure there is a way to use Steemd to find a more exact figure, but I’m unsure as to how and it does not really matter; as 180,000 accounts is competition enough to validate the results of my study. I likewise realize that a notable percentage of those accounts are likely bots, or duplicate accounts used by individuals in a nefarious manner to promote their own posts and reap the corresponding financial rewards of showing up in the “Hot”, “Trending”, “Promoted” categories.
That aside, I am sure there are more than enough active accounts to be considered sufficient market competition for this study.
The Rules:
I cannot use a reposting service, resteem service, direct pay for votes or acquire fame and fortune in a surreptitious manner.
All of my efforts must be transparent in order for the study to be valid.
I will spend no less than 2 hours each day interacting with the Steemit Platform.
I will tailor my contributions to actually creating good content and not aggregating links, youtube videos or other superfluous information in an attempt to pass it off as my own. In the event that I do use outside links or other items of interest they will directly tie into commentary already added by me and should serve as a reference list not as the content of the post.
I can market myself, build my brand and actively engage users to build a following to acquire the upvotes and resteems needed to achieve this goal.
My methods will include creating good content, curating quality articles and utilizing additional social media tools FB, Twitter, Linked In, etc to further broadcast my message and build my brand.
I may likewise comment on posts and link bomb to articles I have written about similar topics.
I may reuse comments I have made previously as I tend to stay within certain areas of interest and many posts are about similar topics thus in many instances there is no need for me to redraft the same response with different wording.
I may reward users that organically follow me and interact with my postings and follower base through excellent commentary and good conduct.
I may act in a philanthropic manner to build my brand.
Those are the rules.
Philanthropic based goal achievement:.
As the primary premise of Steemit is blogging, commenting, up voting etc. in return for a financial reward I will embrace this concept and philanthropically reward quality followers once I achieve certain milestones.
The Milestone Reward structure is as follows:
*At the $1,000,000.00 level the philanthropic distribution will be paid as follows, 1 follower will receive $50,000 in Steem Dollars. There will be one, a standout, a member will arise that once I reach my goal and complete the study I will realize that I could not have made this journey without them. The remaining $50,000 will be divided among five other followers.
Milestone achievement is not either/or; both requirements in terms of account value and followership must be met.
All steem dollars acquired through curation or authorship shall go directly to Steem Power; save what is a necessary hold back for philanthropic distribution. At the $1,000,000.00 level or study expiration this restriction is removed.
You must contribute in order to receive a philanthropic donation to your account. Do not think that simply clicking follow and walking away will get you there. In order to reach this goal we need active users, that contribute, comment resteem and are committed.
I will attempt to post daily progress reports on # of posts, average earnings per post, followers gained etc. to begin building a usable graph that will serve as a template for exponential account growth and followership over time.
At current the Steemit Market Cap stands at $328,754,270. I must capture 1/328th of it to reach the required goal.
The study shall run for 18 months, or goal achievement which ever comes first.
I am so on the other end of things: I don't even want to think about followers or what I might get long term and am only interested in quality engagement. It's the old quality is better than quantity argument. That having been said, both ultimately lead to the same place; it's just the focus that changes. For example, those rules look very reasonable and extremely well thought out, but they're not the reason why I'll be around and you'll never catch me tallying things up. No sir. I'll be around for the quality content and conversation!
And I'll trust you to tell me if I've won something. 😉
Good luck!
Good point indeed. I likewise enjoy the spirited banter and chat here. I enjoy debating with users that may have an opposing point of view in regards to a specific topic. That said, I'm obsessively driven to both achieve goals and provide proof of concept for endevours I pursue. While this is expressly a tally the numbers event to a point, it, if successful should provide conclusive evidence that hard work on steemit pays dividends. Those may come in the form of financial incentives as well as the friends you make along the way. It's not about the destination, it's all about the ride. I will certainly let you know if you win something, all it takes is participation, conversation, resteeming articles of mine you feel your user base will find interesting etc. We are legion, We are many.
Only you know if you won something. Or not? How @pawsdog can tell you?
Why you dont take away your selfupvote? When i downvote now you cold trap me or i just come back later and change my vote.
I loved that statement @cryptographic !
Dude! This is incredible. I'm super interested in this process because I really do want this platform to succeed, and I see the current power play between those that have Steem Power and those that don't an interesting dynamic. I personally think there are a lot of hurdles for mainstream adoption, but a case study like this will absolutely help new users get over the hurdles of effectively screaming into the wind.
As well as the graph... I'd love to know the percentage of your daily time spent creating posts versus interacting with the platform. I think for most full-time bloggers it's about 70/30% between promoting versus creating content.
This is an incredible idea! You've got my support all the way!
I will add your request to my daily report in the form of a time log, I will consider today to be day one; however my first daily report will be tomorrow and will include today's results. I will provide raw data, if someone has a desire to clean it up and make it more user friendly then I am all for it.
Thanks @pawsdog - very interested in how this all plays out.
I'm curious myself... :)
Very original idea and approach. It's nice to see that you set the goal.
My approach was to write about the science - what I do for a living.
And cars - just because I like them.
The growth rate of my account is 7 followers/day at this moment.
The number of friends/ fans is about 10 - 20.
My special thanks to SteemSTEM team (curators in Science, Tech, Education, and Math) that provided the most of my growth and created a great ecosystem for new authors.
this is a great community and there is much benefit to be had when we try and help others more than we help ourselves.. I love science...:)
I like this Steem world because we are producing something new and get rewarded for that. We don't have the real-life feeling that we were ripped-off for some newspapers, books, info...
very true, very true..
I am very interested in this journey you have chosen to undergo and am willing to do my best to support you on this endeavor to the best of my ability, being a new member it will be interesting following an older member to see the validity of this platform and its oppurtunity to those just breaking into it!
I concur, and that is the reason that I am undertaking this journey. I am likewise new, account age under 1 month, followers under 100. As such I my results will be valid from the standpoint of a new user to the site and realistically demonstrate what is or is not possible through hard work.
What areas/topics will you be contributing to most?
Primarily I involve myself with Cryptocurrencies, and items of news interest. That said I have academic knowledge and experience in a variety of arenas; business, finance, real estate, animal health, explosives, passive income creation, urban warfare, and poetry :)
Quite a diverse knowledge base? Care to elaborate on the source of your explosives expertise...? :) But it will exciting to see what this little experiment says about the potential for advancement in the steemit platform
You may find the information you seek here: https://steemit.com/introduceyourself/@pawsdog/hello-steemit-creative-talented-writer-and-trade-analyst-entering-the-community
All is made clear lol
I look forward to seeing your posts.
Have you written an article detailing your experience in urban warfare? Haha
Not yet but I figure I will have to get around to it.. that will need to be a high $$ article so I'll wait till I have some traction here first :)
Urban warfare and poetry? Explosives and academic knowledge? What unexpected combinations!
Eternally curious, I'll be following to see what you come up with.
No problem, thank you for the post..
Sounds interesting. I will follow this case study for sure!
Thanks, I consider it to be trial by fire and a way to decisively cut through the bullshit and determine if this platform is an economically viable income opportunity. You may check my past posts if you wish to get a measure of my writing abilities, or even www.easypetmd.com or www.pawsdogdaycare.com .. both of which are mine and I wrote all the content for.
From the post I have read you know your shit.
Urban Warfare.. lol
Interesting combination but true... :) https://steemit.com/introduceyourself/@pawsdog/hello-steemit-creative-talented-writer-and-trade-analyst-entering-the-community
I already follow you and have up-voted that article...great intro
It was just sprinkled in your skills in comment above "creation, urban warfare, and poetry" ..was funny
Thanks, and that is my writing style.... I'm glad you found amusement in it...
I started following you because your cryptocurrency articles actually made sense to me. You seem to know what you're doing and how to keep your readers engaged. Best of luck, and you have my full support.
Why thank you, I try and cut the fluff and use common sense. For me its about the right time to make money, I don't care if its Bitcoins or stock in a Dildo factory.. if the earnings, business model and charts make sense then I'm about it. If they don't I will go in my default mode which is one of protecting my capital..
Bahaha do you happen to know of a Dildo factory stock worth investing in? :laughing:
No but I'll keep an eye open for one....:)
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STOPA case study is very clever! I just started a week ago so I look forward to following your milestones while comparing mine. It will be good to see you document all this as you go along. I was just asking myself this week what it would take to have a $1,000,000 account, and I believe you are right -- it is not too late, and there is not too much competition. There is plenty of room for many to flourish here.
I agree, I'm sure I will reach the goal, well relatively sure.. that said, it still takes something dumb like 3 years to power down and get your steem power to USD.. which by then it may be worth 0.. We shall see...
It could be but these days it takes a lot for a worthy coin to die. The problem is cryptocurrency is still too new to be considered time tested, but for the run we've had, it seems pretty set in stone that crypto is here to stay forever.
It could be. So long as the government keeps its greedy hands out of it...
100% upvote I love charts!
I think it has to do with my INTJ personality really. There is no real DATA here on the subject. Sure the early adopters did well as there was limited competition and they were able to sit around giving each other double dutch rudders on upvotes etc. If I would of been there I would of been grabbing arms as well. That said I think the market is sufficiently saturated now as to conduct a realistic study that provided provable data over a period of time as to what one can actually accomplish on Steemit if they work at it. Granted the ability to be insightful and write helps too, so some may not succeed no matter what they do. But that aside, I'm interested in what the results will be..
This is a good goal to have, when you achieve it, it will also be good publicity for steemit to attract new people onboard. Good luck I hope you achieve your goal. (and everyone else here for that matter)
I agree, I felt this was a decent time to actually test the viability of this platform as a conduit for passive income or wealth. Likewise, if the experiment fails to work, then we will know that as well. Regardless in the event of a smashing failure it wont' be due to lack of effort.
Ambitious plan and worthwhile project. You have my support.
My two cents though 18 months is not enough time to reach $1m... but you never know, the price could explode.
Good luck!
Well I think 18 months should be sufficient time to determine if it is a viable platform for the creation of wealth. We may or may not hit the high water mark of the study, but we will at least have quantifiable data at that point. Data that can be used to look at the platform from a different perspective, perhaps it will bring to light short comings or other issues that may be improved upon..Your followed and thank you for having and open mind.. this is how relationships are build..
I committed to 3 months initially and was sold before it ended.
And no doubt... look forward to following your work.
No discredit to your efforts at all as you do produce good content. I have taken the time to review some of it. But I think the competition pool would of been a bit thinner then. I like the idea of this experiment based on trying to rise in a saturated market. Everyone on here that does not make it bitches about to many people, articles etc. and while there are problems, especially fluff articles.. I do believe that it can be done with a commensurate amount of effort.
Very cool project here @pawsdog. I love how thorough you are. Definitely someone who pays attention to detail. I'll be following and supporting you along the way. Cheers to Steemit success!
Thank you for your support, I appreciate it.. hell maybe you can be the recipient of some philanthropy along the way...
Well...you know where my channel lives now :P
@pawsdog - you've got my attention (and support) now! Read your intro post it was very inspiring - no disrespect but you are like the Jocko Willink of Steemit :D
Powerful stuff and he is right... no disrespect taken..
We kinda look alike too.. lol..Pretty similar build as well it looks like :D
Seems that way, I'm 5'9" 210... lol.. great listen though, and he is right.. you have to own your shit, both the good and the bad..
Good idea @pawsdog! Interested to see where you can take it and what interesting data and trends you might be able to gain out of it. Best of luck!
It's data for everyone... :)
Got it. I better understand with pictures und simple sentences even when its difficult or komplex content.
But pictures and simple sentences can trigger emotions or lead to propaganda.
No problem at all thank you for taking the time to give it a look. I forget sometimes that there are many here that do not have English as their first language. I will try and think about that in the future.
Learning a new language is very difficult. I can speak only german, english and russian.
And i forgot that here are many who look to me like people who dont know about all functions on steemit. I looked into some accounts of this new people who dont understand voteing. They sometimes only follow 1 wordspreading guy. At least if this teacher goes away they should be fine or do you mean they are mostly kids?
edit: reduceing wrong value to 0.ab is ok for me.
Some are posting here to much. I cant follow all.
That makes perfect sense. I speak English and Japanese, I live in Japan for 15 years or so. I agree some people do post to much or post garbage. I try to limit my posts to a market report, information on this study and maybe a helpful article or two each day. No more than 4 usually unless something interesting is occurring in the market on in steemit.
I consider 1 post every 7 days as relevant. Comments you can write how often you want. I wouldnt get upset when comments with 0 value stay at 0 value.
Make sense and I welcome you to your opinion. Would not really work for me as I do a daily market report.. but for some it would work that provide no service.
A truly ambitious goal and a most worthy one as it follows the original philosophy of creating good content and sharing with the community. I help host weekly meetups in Cancun, Mexico and have shared and showed this post to new members.
Although I've only started following you recently I found this post in a contest thread. At yesterdays last meetup those who attended were in awe as I showed them what you are trying to accomplish. It is posts and individuals like yourself on Steemit that are inspiring others to do and give more to the community. I wish you continued success and thank you for promoting good in a world that needs so much of it.