Can you live off steemit?
Hello and welcome to my Blog.
Fine, you just joined Steemit and you got a couple of bucks on your introductory post or you have been having it good lately with decent earnings on your post. You now decided that you want to make a living out of Steemit. You want to make Steemit full time.
Source
You might wonder is this possible, should I leave my current secure job for Steemit.
This was the question asked by @desmoniac in the @wafrica party chat channel last Sunday. Everyone in attendance, the likes of @fatherfaith @prettyjules158 @anaman @yungchief @black-man @steemgh out of many others all spoke aired their opinions.
All of them advised making steemit a full time work that is living off steemit. Most of their points were based on the fact that Steem price is not stable, the rise and fall of the price means, there is no guarantee minimum or maximum income.
I have been on Steemit for some time now and I can say Yes you can live on steemit but some conditions must be present. On @lukestokes twitter profile, there is a pinned post there where he said he sold half of his FoxyCart to focus Full time on crypto-currency here. He is a number of many users investing their time on Steem and other Cryptocurrencies. As a matter of fact he is also a top 20 witness, which shows how far he has gone.
Steemit is not a get rich quickly platform, but with the right conditions, you can make quite a good number of bucks.
What is my Opinion?
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As I said earlier, there must be some conditions that must be present before you can make that decision, take that risk. Someone gave an opinion in the @wafrica chat channel that cryptocurrency might die/get eradicated. That is not possible Cryptos are here to stay. They will survive the bashings from the government and come out strong.
Now back to my conditions, on steemit having enormous SteemPower is one of the key to success, interacting and making quality posts is another. If these 3 conditions are right, I say YES you can leave your current job and invest your time on steemit. The unstable Steem price will have little or no effect on you.
Having these 3 conditions in place, you will be able to earn more via author and curation rewards. One of @lukestokes tweets showed he earned in a week.
- Curation rewards- 70+ STEEM
- Author rewards - 50+ STEEM and 200+ SBD
This is about $1,200+ in a week. Waoh you say. Having the SteemPower, interacting with the community, and building a good reputation will make you reach the same heights and pass it. If you can meet these conditions, then you are good to go.
However, If you cannot, or you are just starting out as a new user with little influence, I will advise that you combine your job with steemit. Like someone mentioned in the @wafrica chat channel, you don't put your eggs in one basket, you should diversify. Your steemit earnings will still be minimal and can only take care of some stuffs not all your needs.
You may ask, when will I know the conditions are right for me to live off steemit. In my opinion, having a SteemPower of 10,000 and reputation of 60+ with constant interactions, comments with members of the community. You are good to go.
This is purely my thoughts and your opinions are welcome in the comment box
Other users mentioned in this post are for illustration purposes. The opinion meted out by this post do not represent their stance on this topic, mentioning them is only to provide example.
You can attend the next @wafrica chat and let us discuss issues pertaining to the Steem blockchain at their discord server here.
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true talk @zoneboy but my own take on this topic is know I CANT LEAVE MY JOB FOR STEEMIT, i will rather put in bot effort to grow stronger in case of necessity..
BR
JAVAPOINT
Yeah, but with 500k sp will you reconsider lolz
i will for 1k sp
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All made good points. I will love to live off steemit because of the freedom it provides. You can work at any given time you wish, take some time off and while on vacation, one can still blog. But for now, I am still trying to fix my plans to fit.
I know it ain't going to be easy since am a newbie but its worth risking
As a newbie I will advice you juggle both work and steemit together till you have a strong foundation on the platform.
I will put that to mind
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This is not accurate.
I am focusing full time on many different income-generating cryptocurrency projects and in the almost two years I've been here have cashed out very little STEEM to pay for my living expenses, even after going full time at the beginning of this year. If someone is living on Steemit rewards then they are essentially using money from investors who support the token price. If they are not contributing more value than they are extracting, then they are essentially mooching off of others.
I do not condone that.
I did a post yesterday with more about how we need to shift our mindset in terms of not just value extraction but value creation.
For a better understanding of my perspective on STEEM and Steemit, please see this post:
#SteemitIsToMe: Relationships, Reputation, and Rewards.
Please view the entire tweet thread instead of just taking that one tweet out of context and suggesting that I'm encouraging people to go full time on Steemit.
I think cryptocurrency is a highly speculative environment. Unless someone paid off their house, has savings, and is a place to take extreme financial risk, I would never recommend they quit their job to be involved in this space. The "get rich by blogging" mentality is not accurate. Value creation is what matters.
Thanks for the observation @lukestokes, I already modified the content. I forgot to add that before, especially being a holder of EOSdac.
I've been involved in many cryptocurrency projects for over 5 years (many long before eosDAC).
I appreciate the edit, but it still implies I live off the STEEM blockchain. That's not what I do and that can be verified by looking at my withdrawal history. I have traded STEEM for some other crypto currencies at times and I will probably use my STEEM holdings for living expenses in the future, but I haven't done so yet.
Accuracy is important to me, especially the message spread to others, including those in the developing world who really need more opportunities for economic freedom. I want them to succeed, but I don't want them to hope in empty promises or inaccurate information. Cryptocurrency speculation is for those who can afford to lose whatever they put in. That's what I've been doing for 5 years. It's not a get-rich-quick approach.
Yeah. It is good for users to know what they are in for rather than think its a platform for getting rich overnight. I hope this edit addresses the issue. I am open to corrections @lukestokes.
Nice post but currently I can't live off steemit because it has turn part of my life
Hmmn
This is an issue I've been discussing with myself for a while.
I took a leave because of Steemit and other things I need to put in place.
You made an interesting point but I think everyone knows what profits them and they have to consider risk too when making decisions