Let's start by looking at the size of the daily reward pool.
This excellent post by @penguinpablo from 8 months ago calculated that roughly 48'000 steem are added to the reward pool each day. Based on the last 3 months, I calculate that the figure is roughly 49'000 steem per day. - So we are roughly agreed on the number of steem available to be given away daily at 49'000 steem.
If we take the current price of steem (USD 2.50) this gives us around USD122'500 to be given away daily (the figure could be slightly different depending on the price of the SBD).
On a typical day, there are around 58'000 active users who post at least one blog or comment.
On an average day there are around 68'000 new blogs and around 152'000 new comments. This means that the average user is posting around 1.17 blogs and 2.62 comments on the days when he is active.
Breaking these numbers down tells us that an "average" user earns around USD 2.11 for each day he is active.
If we assume blogs earn ALL of the reward, and comments earn nothing, then each blog would earn $1.79 on average.
In practice comments do earn more than nothing. Many comments get rewarded. I don't know the exact ratio of rewards per comment compared to rewards per blog. If I assume that comments earn one-tenth of an average blog then the average reward split would be:
The average daily user
If you are an "average" user, you will be making around $2.11 per day when you are active. In some countries, that's a lot of money. In others it is well below the minimum hourly wage.
If your blogs are making more than the average of $1.64, per blog then you are already doing well on Steemit.
There's no such thing as an "average" user
Nobody writes exactly 1.17 blogs per day, or makes 2.62 comments. Are you more or less active? Depending on your answer, you can judge for yourself whether you are doing better or worse than the average.
Conclusion
At the present price of $2.50 per steem the financial rewards for blogging are pretty mediocre. There is only so much money to go around, and only a small number can justify giving up their day jobs to blog.
On the other hand, as more users join steemit, the demand for steem is likely to rise. This means that the $2.50 you earned today might be worth $100 next year. It could be worth hanging onto those steem! It may seem little at the moment, but it could grow in value.
Here's how things would look if steem was worth USD 100:
I appreciate your effort to quantify these metrics. A different spin from my deflated view lately:
As most of the Steem is held by the top 1-2%, they create a heavy outlier tier outside of the normal bell curve, which likely makes those figures difficult to see in reality across the world.
The large stakeholders keep selling hope and promises of profit and "the investment of a lifetime", but they're not spreading the wealth (like you generously do). These people elect to help their friends (same old story) and now repay themselves by passively getting interest on their SP, versus proactively developing the user base outside their friends. Yet, everyone still expects Steemit's community to thrive and undergo massive growth, which I can't see as possible when people don't share the wealth with people who are actively engaging and trying to adopt the platform. If someone doesn't have SP, they're often overlooked and called a small fish. That's conditioning people to be devalued and devalue themselves.
Ahh, Jerry's video is exciting, but he's far too biased to promote his own stake. I can't forget his earlier days where ethics were highly in question. The rich try to get richer and need adoption to keep their stake in this pyramid growing. No one is really buying Steem on the exchanges. That's my biggest concern. I'm on the fence of delegating everything and quitting Steem altogether because I'm sick and tired of the gross imbalance in wealth on the platform. I hate seeing good people struggle and give up. That energy brings me down. It's pay to play or find a whale or two to make your entire Steemit experience a success. I feel that people are increasingly becoming more interested in how to get more ROI than how to grow the community. Bots are making this too easy, which all prey off of people spending money to try to get visibility, rewards, attention, feel hope, have some pride for not having $.30 on their blog for 3 hours of work. Without this dynamic, the SP delegation and loans wouldn't be profitable, and everyone's SP bank would be flat... meaning they've have to start manually engaging the blockchain/people to grow their stake.
Hope you don't mind this venting. Perhaps you have some wisdom for me to consider at this low point of my Steemit experience.
I feel like an intruder between you guys, but I can't help to express my empathy and agreement with @steemmatt .. from my 6 month experience, steemit is a lobbistic and merciless sort of ponzi scheme. Once your account grows till a certain extent you get "pot committed" due to your invested money and time capital plus the potential future gains. Steemit presents the same neural hooks and brain triggers than the FB's like mechanism but it's worse due to the chimera/siren call of immediate and future money gain. In short time, you stop reading books or living real life and, instead, type till late night like a frantic hamster on a wheel without even realiseing it. I started to question whether this platform is worth my time and how alternatively I could better invest it. If I want to find financial speculation and subjection of the weak toward the powerful, I can look around in the real world, as surely there's abundance of that. In other words, life is too short to have it sucked like this. Forgive my being blunt but my sole red fish luxury is my sincerity.
Thanks @f3nix for sharing your sentiments. No intrusion! It's a public blockchain and you spoke very well on the topic from your view. It definitely gave me another perspective or two I hadn't considered yet, but could be just as valid. Keep your chin up because you're the type of intelligent and thought-provoking person Steemit needs to have for quality content.
Great comment @steemmatt. We are all here for our individual reasons. The best people are those like you who encourage and support others where support is due.
@f3nix steemit can be addictive. It’s not the only addictive platform. Loads of people live inside their social networks, and whether it is a thumbs up, a vote, a reply, a view, a follower, or some kind on monetary recognition, the more the better. To get more, people find their time is consumed by the network of their choice.
I am not sure about why you called steemit a ponzi scheme? I don’t see anyone being defrauded here. Of course when newcomers buy steem, the founders sell. I don’t see what’s wrong with that. Virtually every company ever quoted on the stock exchanges was like that, and still is.
Over time steem will become more widely held. We will have fewer whales.
Thank you for your detailed reply @swissclive. I took some time before answering, apologies for that. About the seductiveness of the platform: we know that if someone wants to be addicted to something nowadays we all are spoiled for choice. It's intrinsic to the society we live in, based on consumerism underlying the concept of continuous profit/growth, no matter if sustainable or not. But I don't want to look like a Luddite here. What I wanted to mention is that the gratification mechanism of the steemit platform is peculiar as it associates to the social gratification an instant economical one. I believe that people more clever than me could study this from a neurological perspective or else according to the principles of CBT, cognitive behavioural theory.
I mentioned a Ponzi scheme as an analogy from a social point of view more that the economical fraud per se. In a Ponzi, the pyramid consisting of few healthy people is sustained by the enlargement and exploitation of the base and so on, till the pyramid crashes but the big fish (blink) are already happy and escaped elsewhere..does it recall something? As of now in my opinion there are great people here but there are also some whales taking advantage of their being on the top of the pyramid and looting the pool unashamedly. Since you mentioned the traditional markets, in every regulated stock exchange there are authorities that intervene, let's say, in case of insider trading. Why not here? Is this - together with the highly pyramidal structure and the competitive moat - supposed to create trust and attract newcomers to this platform?
Yes the gratification is peculiar because it drives some bloggers insane that they can’t get rich quickly despite their “wonderful” blogs. “Tough” is what I say. There’s more chance of getting rich in a casino (i.e. rather unlikely)
@swissclive - if you're active on discord and don't mind, I wanted to ask a little advice on something re: blogging. My discord # is 9927 if that's possible. Thanks.
See you in discord 9927...
I'm usually for an existentialist and critic approach. My point of view was very subjective but I'm glad it made some strings resonate (notwithstanding I believe there could be room for studying the long term effects of such upvote stimuli/gratification system on the brain). Thanks for your encouraging words. I'm also happy for this exchange and will follow you closer. At this point I will join @swissclive's appeal to you of keeping steeming (rebalance is fair).
I am glad you will not leave our community @f3nix. After steem’s massive price collapse of the last few days, it is almost worthless now. Those who continue blogging are the genuine folks. Those who stop were just here for the money.
Thank you @swissclive. These collapses are good as they clean the air and this is valid for the entire crypto market, in my opinion. I'm here mostly to express myself and create value, my main drive rather than money. As you mentioned, this is the secret to not get burnt of frustrated, just doing what you like with passion :-)
@steemmatt, Many bloggers are here just for the money. At present prices it isn’t very rewarding unless you are at it 24/24. Even then, a day-job would usually pay better unless you are a “star” like @jerrybanfield or @sweetsssj (I estimate that she makes around $3000 a month. A good part of that comes from her own upvote). She could have earned it in any other investment.
On the other hand, many bloggers are here for the friends and community. An upvote of 1 cent is more than enough for them to feel there work is recognised. They don’t rely on steemit for food.
In any society you will find those who chase the money and those who are here for others.
I totally agree with your point about Jerry. My feeling is that he has addressed the ethics issues for which he was heavily criticised.
Imbalance of wealth: Yes, it exists in steemit. Inbalance of wealth is a feature of the world. Equalise and production stops. Nobody who is rich did something you or I couldn’t have done. We are just too late to the party.
Please don’t leave steemit. Keep blogging for pleasure and forget the money side of it. I have been following you for ages because I enjoy your blogs. I don’t choose to follow many people. I would hate to see them stop.
Thanks for taking the time to reply with this and below. It added some coal to the fire.
While it's not a strategy, I hope this platform and blockchain thrives so the end justifies the means. I'm not a social media person in general, so Steemit has been a new world for me. It's been fun, I've met a lot of people, learned, and earned SP, but seemingly just have to rebalance it within my priorities a bit.
The only problem with this viewpoint is that the inequality, albeit slowly, is changing.
The top people are become less powerful. Steem power is being spread around. Each time I do a report, twice a month, the power of the Whales decreases.
https://steemit.com/steem/@taskmaster4450/steem-whales-are-losing-their-power-the-system-is-not-broken-report-through-3-15-2018
People continually attack the system without realizing the facts. If you want you can look at @arcange's reports from 6 or 9 months ago...they tell the entire story.
@taskmaster4450 - With all due respect, I do appreciate your response, although it appears to be an accusation that one of us in this chain is attacking the system without realizing facts. While those statistics are promising for what they are, may I suggest a slightly different focus off of such charts, reports, and numbers about power distribution to refocus on the crux of my initial point?
Many people with substantial Steem Power, in my opinion, use if for personal gain or passive auto-votes on buddies more often than generously using voting downstream to help the community feel appreciated and grow. No shock there for a veteran like you. You've heard it all.
However, for example, you engaged us here and added value to the discussion and community. I must assume that our comments weren't completely worthless if you felt inclined to reply. I feel that @swissclive, @f3nix, and myself also did the same good in producing thought-inducing content/discussion, but we were not rewarded by you. Was there any harm or downside in sending some encouragement or reward for sharing passionate feelings?
That's the general gap in encouraging/sharing/spirit that disappoints me most. It's not about power being spread or charts. It's how people use their power.
Many evangelists for the platform with loads of SP act more like politicians in my eyes. They talk the talk and get their earnings, but their actions in the form of voting, delegation, replying, following, resteeming, etc., show the truth. I don't run analysis, but everyone's activity is traceable, and I've done enough digging to see many leaders for their true colors. Let's hope that changes slowly over time as well.
While I appreciate being directed to reports and analysis by others, that doesn't take away from the behavior I've seen throughout almost daily use of the platform since August. There is plenty of valid sentiment from my observation, while charts and facts can address some elements.
Forgive me if I misread your comment as a backhanded way to tell us we're simply making false attacks without doing our homework.
I don't want to argue with anything you u say as it has relevent value. However all I really have to say is a .01 Cent post is worth INFINITLY more than** ANY FB post EVER!**
I am pretty tired of people complaning about rewards when its **INFINITELY **better then the most successful social media site of ALL TIME.
∞§∞Bless∞§∞
Well said @qinneaker. 1 cent on steemit is infinitely better than a thumbs-up that you get on any other social media site.
Totally agree maam,we need to give more time to steemit than to other social sites.I have my exams in between though i am giving here a lot of time.
Do what you love and the money will come, chase a dollar and watch it move away from you at the speed of light."
~Truce
The second part of this quote is a paradox to me but i think it's very true. Generally, productivity is assured on what you love. great words @truce. You should be a philosopher.
Steem has takin quite the plunge recently, but it has always been one of those crypto's that has huge ups and downs like ripple and many other cryptos. Actually if you look at the chart it is very similar to xrp,dgb,bts, and many other volitile coins.
If I get you right..mare you staying that the more the number of users increase? The more the steem available per day and this will increase the price of steem to probably $100???
Please I need clarification on that.
Going by tour data and analysis, I could say I am doing well on steemit thanks to a few persons who find the time out to curate my under valued quality posts .
I don't know when the steem price will rise or how high it will go. However in this video @jerrybanfield is extremely bullish and sees over $100 in 2018.
On the other hand, as more users join steemit, the demand for steem is likely to rise. - Agree, but then the reward pool will be distributed to them too so we can say that with each user that is joining the platform the current users will earn less Steem, but there is a chance that the Steem we earn will increase in value. I say that things are quite even :)
Watching the reports that penguinpablo also shares daily, we can see a decrease of active users in the last days, and I think it is because of the decrease in Steem's price.
I agree that as the number of users rise, the rewards will be spread thinner. What is really desired is that the price rises faster than the number of users.
There has been a falling off in the number of active daily users. I agree that this is caused by some bloggers who were here ONLY for the money giving up. This is caused by the fall in the combined price of steem and SBD.
Those who blog for the pleasure and for the community are still here and will keep going whatever the price.
With 68’000 daily blogs, I am still happy that I will find interesting things to read
You will find interesting things to read and even you provide yourself very valuable content to the platform and encourage others to do so. One good example is the scam examples posts competition which was something pretty unique!
Great post, followed u!
However, I think one thing to consider when calculating the rewards if Steem is priced at $100 is that there would be much more users sharing the reward pool. I guess the average rewards would stay the same but good content will be more profitable.
I agree that the best strategy for now is collecting all the steem you can get and keep powering up :D
Well said!
Looking forward to the day steemit really goes mainstream. It would be wise to gather as much steem now as possible and enjoy advantages exclusive to early adopters like bitcoin.
Hello @Swissclive
Your article is pretty much detailed.
It's true that STEEM is not doing too well at the moment, but the future looks bright. That is why i try to encourage myself and the people around me (followers, friends and newbies) to power up as much as they can. Every little penny we earn now will be worth much more in the nearest future.
I don't really make much from my blog, so i try to cover that up by making loads of comments and hoping i get rewarded for participating and sharing my thoughts.
I don't like to score myself, but i think am not doing too bad. :)
I love the way you break down and share useful information like this, you make it easy to understand. I would really want you to talk about curation trail and how busy students who find it difficult to come online can make the best out of it.
Thank You
@shuta You wrote:
I agree this would be a really interesting topic. There is good money to be made by curating well. The trick is to vote a blog which is GOING to do well. The comment might get you rewarded or it might not. But a VOTE will always get you rewarded. The higher the votes the more you earn.
Okay @swissclive
Thank you for shedding light on this!
Although my reputation shows that I've been pretty much involved in the community, i feel i still have a lot to learn. If, should it happen that you make an article regarding this I'll try not to miss it.
Curation trail are useful for people with good voting power like 500 above
I say so because i won a 500 sp last week which ended on sunday and i saw the benefit the more.
A newbie getting into a trail may not be that useful because of the small value of their voting power and the voting percentage.
Am working on my third edition of this post you read
A DETAILED GUIDE TO HELP NEWBIE FROM MY ONE MONTH DEEP EXPERIENCE AND STUDY
The third edition should cover this topic too but have being busy to get that done but hoping to finish it this weekend
Okay, thank you @inspiredgideon1
I'll be looking out for the third edition of your work.
I'll add you up on ginabot if i have to.
Happy Steeming!
Thanks
Thank you for this wonderful article. I have yet got close to the average rewards but I am trying. Your article has giving me some hope that I will do better in the future. You gave me a gift so I'll give you one. Here is my latest painting I hope you like it, I do give 5 digital paintings away each week. I hope you like it. #zeitlini
@zeitlini. Thanks for the digital painting. You have quite a skill. What is the name of the tool you use?
With steem now half the price from a few weeks ago, you are doing well if you can make $1 a day. Keep the day job!
Thank you and I will. :( O' I use Photoshop and Wacom Bamboo Stylus. And of course may hours of time. I have been using bots after my first month of no replies. I am now able to use them and I think I'm getting more response. I don't know what else to do so I've been giving 5 away to help boost my following. Any thoughts on if this is a good idea or does it seem desperate. Please let me know. Thanks you again.
I started like you with no followers, no votes and so on. Competitions and giveaways helped a lot after I started to get followers. Read this
This was such a nice article swissclive, Honest and heartfelt. I hope I have not made to many mistakes yet. I must say I was not being patient enough. Seeing so many big $$$ made with so little to no content. I know bots helped them but I should take a page from your words and continue on. Writing better posts and connecting with more nice people like yourself. Thank you for all your help. My best wishes to you. :)
I was expecting this calculation for months. Very interesting. Now we know what are our goals and what we have to do to continue.
For me, I hope to spread science and education to others. This would also improve the readers and give them something to work to. Steem is not a blockchain for memes or chitchat but could be a repository of human knowledge and interaction or a future complementary education resource. There are so many things it could help at!
We will wait and see and produce good content that is not found elsewhere, it's the only organic way of growth for now that I see.
Oh and buying Steem with money. I have matched the rewards I got through buying monthly. Followed on your way of growth.
@alexdory. A steemit dedicated to education is a great idea. How about “d-education” as a name?
This is a very good analysis and I marveled st the mathematics. Tho as I read , I got lost trying to relay those informations to reality. So many users had quite Steemit cause of low income on daily blogs. It could be so painful spending hours writing good content and at the end you might not be lucky enough to have your post Get to curators and so that day is gone and you’re left with some 0.whatever.
I as an individual has found a way to encourage myself on my posts in other to keep me going and not keep seeing some discouraging figures
I can’t overlook the fact that sometimes I do get huge upvotes on some musical post as I’m into music and so I hold on to the payout and put it back into the system by so doing I get occupied in some time investments on steemit
It’d be a wonderful thing if one could get an average of 1 to 2sbd as payouts but in the real sense of it , things aren’t that way for some Steemians
Thanks foe the insight of steem growth and I believe by now the smart ones reading this post knows exactly what to do with steem. Merci
If the average is just $2.11 it means that close to half of all steemians will learn less than that.
The reality is that most people do not have a following. Without a following, you are lucky to earn even 1 cent. I had to write around 20+ blogs before I had even 5 followers.
People who join steemit see some famous bloggers collecting $100s and they wish they could have the same. The difference is that the famous bloggers have over a 1000 followers, whereas those who are new to the platform have none. It's like trying to be a pop star. If you have no fans, you won't be heard. You are singing to an empty auditorium.
A big payout is not relative only to a "famous blogger" but to influential followers and bots
There is no denying the fact that, it is profitable, depending on how much is made per post. Like you have pointed out, $2.11 is a lot in some countries. For instance, a dollar is 360 naira (local currency) here in Nigeria. $2.11 = 759.6 naira, meaning, in a month, it is, 22,788 naira. Minimum wage is 18,000 naira. That says a lot. With more active users, steem price would definitely get higher, and the prospect of it all, would be amazing.
Hola, Más claro imposible.
Estupenda explicación.
Espero que una vez haya hecho piso tenga ingresos que me motiven y no necesariamente tienen que ser grandes cifras. Poco a poco iré ganando terreno y aprendiendo a ganarme el voto de los grandes ligas.
Por ahora bien y ascendiendo en la tabla del nivel me siento bien.
Gracias amigo y éxito
ENGLISH TRANSLATION of the above thanks to Google Translate:
For now well and ascending in the level table I feel good.
My friend, I am sure you can make it big in steemit. Thank you for your nice words. I am looking forward to your success.
Thank you friend and apologize for the language.
Hi Madam, Is it possible to help me and hire your own power on @minnowbooster No one wants to trade me and thank you
Probably you are offering too low interest rate. Go here to see what rate other people are offering, and make sure you are offering a higher net APR than the others.
https://www.minnowbooster.net/market/16163?
@abderrahimlafifi. I am sorry to say that you have no chance of being filled at that low interest rate. It won’t happen. Wait 2 days and your money should be refunded. Then you can try again but with a competitive rate.
I am sorry for the inconvenience but I would like to rent this price because I only owned $ 100 and collected it after a great effort
This is my offer
Waooo nice post, I think am getting more knowledge on how things works on steemit little by little. THANKS for the insight and God bless you @swissclive
"I am an independant thinker who wants to improve the world." (I just came here to upvote you for that) Followed, looking forward to more from you @swissclive
That is something people fail to seem to grasp. While the amount of STEEM is limited, the amount it can be worth when priced in Fiat is unlimited. I had a discussion with someone who said that Steem is limited....I told it it is not..yes the amount of Steem issued each day is but it could be worth $100, $100, or even a Ferrari. There is no cap on what Steem can be worth.
It is sad to see so many who feel that others should just flock to their posts an upvote without putting any effort in. There is too much of the get rich quick on here...which isnt surprising, that is how it is marketed.
I think we need to stress decentralization and a lack of censorship...not the money...that will come in time.
I agree. Steemit should stop talking about the money and instead talk about other things which matter, like community, no ads, and lack of censorship. We want people here who write well rather than people who can write “nice post” hoping for some reward.
It is about being positive. If you are not earning well today then stay on it will be worthy in future. You are creating your reputation every day, it's never too late. You reputation matter a lot in your earnings.
Just keep it up, steem on
Excellent article. I can say simply. To conduct a blog on STEEM is very, very profitable. I have earned all my capital from July 2017 almost from scratch (initially investing 100 SBD at a price of $ 0.95). I paid Steem more than 3 hours every day, and there were days that I spent on it until 12 o'clock.
@cranium you are an example to all newbies. You should blog about your hard work on steemit so more people learn that it is not “easy money”. Thanks so much for everything you do.
This is a great idea. I'm happy to write about this article on the weekend.
The only problem with Steemit as a platform is its Proof-of-Stake Mechanism which causes a lot of problems because only the people who bought it earlier win. Been away from steemit for quite sometime, good to be back.
It is no doubt that steemit has gained worldwide acceptance and this signals the rise of steem to prominence before the end of 2018.
As for the blog payout, consistency and strong relationship is the key. Just like it has said, relationship is the currency of steemit. Your reward is proportional to your relationship with other users on steemit. With consistency, you will begin to have the desired reward on your blog posts.
I am not doing well then with your analysis, sometimes i make nothing in a day even with the comments. I know with time I can make that average. If steem ever rises to $100, we will have a new record of over 20 million new users on steemit registered within 24 hour of increase
"Hang onto those Steems untill that time when a STEEM will be worth $100 or more".
That to me is the core message innthis write up. That's the power of visioning for those who can see it coming.
Those days are around the corner. Let's just be patient and keep working hard.
Thanks for those breakdowns @swissclive .
Resteemed.
With the analysis, i will say am not doing well but on the other hand of helping newbies know about the community, i have done my best to help them with basic ideas to get started
But the major issue i tend to see is when a person takes out time to create a post but only to get a few cents while some whales post what i might term to be relevant but yet the get the pays.
I have over heard people say that @dan is one of the owners of steemit, i wanted sending him a message on possible ways to help regulate the platform so that it benefits both the whales and crayfish like me but to avoid getting into the cross fires that has being going on with some whales, i decided to keep quiet and see a saviour come to the aid of newbie
Just hoping that things changes to help newbies who take out time to create some posts that are good but are not being rewarded enough
I agree, it is best not to get into these whale fights. Just keep posting great content and someday a whale or two will start following you.
Thanks
I have had posts that paid out lesss than $1 . But i think investing in steem is the best for now.
My first 10 posts were all brilliant and I spent days working on them. Collectively they earned less than 12 cents. Good luck in your future posting my friend.
I usually am not moved by the situation of steem in the exchange market, it does not in any way hitch my affection for blogging, i just keep blogging away...
However, i have no doubts that steem is not losing out, because i don't see its foundation as not so strong or weak at all. It's just a matter of time before it steals the show...
@swissclive, your choice of words always say it all, i follow your trail....
It would be a life changer for many of us in third world countries the day steem hits a $100. Great analysis sir 👌
Steeming was rewarding when i was hearing about it and was skeptical about joining, but when i joined everything changed and steeming became hard and hard to earn from...i hardly gain the $1 an average steemian should...most times i need to use the bots to encourage my reward. Am glad another steemian is seeing things my way. Thank you @swissclive for this.
My highest gain has being comment and contest
If you can really read then here is a secret that can help you
A DETAILED GUIDE TO HELP NEWBIE FROM MY ONE MONTH DEEP EXPERIENCE AND STUDY
That post was created by me and i think it help you depend less on your posts for now.
@inspiredgideon1 I hope all newbies will read your guide. Some will surely succeed because they took the time to learn carefully how to succeed on steemit.
Thank you @indpiredgideon1 will go tru the post.
Ok pls do and ask your questions if any
What I find worrying is not the average of the posts and comments but how many users are reaping the poll. It seems that less than 5% of users share 95% of the pool
This is true. It is the old story in every economy. The most powerful 5% have 90% of the wealth. If it wasn't like that, there would be nothing to strive for, and everyone would become lazy and nobody would earn anything. Rarity creates value. You can't pay people with sand.
Experiences seem to show that people with a basic income, instead of being lazy, are looking to further improve their destiny. Was not this Dan Larimer's project? 95% of people are in "survival" mode.
True to your observation , its about who and that are benefitting (financiall) from the post..
Hey @swissclive thats some good info and you're right about it $2.11 its alot of money here in Venezuela.
cheers
Blogging on steemit is way profitable than some conventional blogs. But i might not quite agree that an average steemit blogger that blogs a post per day earns like $1.65, it is not always so. Most active steemit users only earns cent, some of them have to make use of bot in other to increase their earning.
Hope you are good @swissclive?...
Your statistics are very helpful @swissclive, from the charts i can deduce that an average user should be earning at least 2$ per day he/she is active. But the reward pool really doesn't work this way because some more popular users get a bigger chunk of the allocated rewards for that day, let me not even get started on the reward pool abusers. With time the supply will have to increase to meet the demand just as you have rightly said. Now is the best time to hodl steem....
@dee-y over and out.
I really can't wait to find out. I just joined today and i am trying to learn here and there before i make my intorduction post. I feel earning $20 a post every day while i make two post or one a day, would really make me happy because of the things i have to do and i know it will take a while to hit this target but i am willing and ready to learn.
This is real, if you increase the number of people in Steemit, the likelihood is that competition increases and therefore, lower the average, or am I wrong? however, if we assume that an increase in people at Steemit would lead to an increase in Steem's demand, this could cause the Steem price increase to compensate for the operation. Now, my question is this, what makes us think that an increase in new users necessarily has to bring with it an increase in the price of Steem? Only if new users have money to invest and want to do so, will they bring an increase in demand, otherwise it will not be like that.
Most users of steem don't buy any. However there will always be some who want to buy steem because they WANT more steem power.
Steem power is like lipstick for a woman or a Lambo for a guy. It will get you looked at. That's why more users will mean more demand for steem.
Lolz i like the lipstick part... Interesting
Thanks for this information sir... though I got no steem now, I'm still gonna save it up when I do.
Thanks, a lot swissclive you help me a lot good work.
Cheers for this post, its all about playing the long game
I must say I haven't gotten much payout. But I know, not think, that Steemit is better. I love blogging actually.
That's right. Steemit should be about the fun of blogging, communities and making friends, and not just about the money.
Very interesting! Thanks for breaking it down for us. Had to click this post based on the title you chose! I couldn’t resist! I comment & post everyday and happy to say, I’m above average. Steemit has felt slower and the rewards lower of late, but I believe in the long term potential so i keep up through thick and thin. Thanks for this.
Well Steemit is gaining alot of ground and definitely the demand for Steem will get higher. Keep encouraging those newbies to not give up and keep persisting when they complain about little to no rewards for their posts. But with time Steem is gonna be a big deals and it's definitely worth holding on to
the more you play
the more you get paid.
I think most people are sticking around because of that last table you showed with Steem being $100. It will be interesting to see if the current bear market extends for the next several months. I am not saying people are not here for the community, but if the money is not there, knowing human nature makes me think that an extended bear market will certainly make it interesting.
Its awesome how you always break down your very informative posts like this, you reall always make it easy to be understood.
Here in Nigeria, a dollar is 360 naira. If $2.11=759.6 naira,then in a month, it will be 22,788 naira and mnimum wage is #18,000 naira. Thats pretty cool for starters here.
There are actually so many people who have great contents, but the low visibility wont allow dolphins or whales to see them.
One special thing I've learnt on steemit and i'll keep saying is that live and relationship with people is all that makes one stay put. Without relationship with others, they will only be frustrated. When relating with others, you get familiar and as time goes on, you are on the moon.
I'm looking forward to when everyone gets to know about Steemit so we can all steem to the moon. Haha... Thanks for this @swissclive Its really awesome. Good morning
No matter how fluctuating the price of sbd or steemit is, I can never stop believing in blogging.
like you rightly said, the average 2.11 sbd made by active users might be so little in some places, but that is almost #800 (eigh hundred naira in Nigeria) that's more than enough to put food on your table as an average man.
thanks for the beautiful research, I hope sbd and steem grow like you predicted.
Reading this post will tell a user what to expect in return for what he/ she is doing on steemit. be it blogging or commenting. Its quite unfortunate that the price of sbd is not that encouraging at the moment but with the optimism and positivity from this post, it is only wise for users to keep working and stack up sbd because its rise is near.
Although i have been battling to strike a balance between work and steemit but I am hoping to get it right here.
Your post is well simplified and helpful. thanks
It has been profitable to many, even with the decline in price, many are still happy with the little stipend. Smiles
I seriously don't know what my business would have been like without steemit, it is the investor i never had 😃
I am very bullish on steem and therefore I am holding on to whatever I have right now.
$100 at the end of 2018 could be possible but if it is even $30, I will take it with both hands.
Thanks for this analysis and breakdown.
This sums it up, but blogging is okay for people who have the reputation and steem power. Sometimes my post earns less than $1. And most of my earnings has little has they are come in SBDs... so no steem for now