I could be Steemit Rich in just 4 months!
Welcome to the 8th weekly installment of my series on Steemit income and growth!
Income on Steemit is generated by "investment" (the more Steem you have, the more you earn) and by "work" (earning Steem by contributing content that adds value). Already having invested my savings in Steem, I'm now "working" by uploading unique valuable content to the blockchain. My goal is to increase my average weekly income to 15 Steem.
Calculating weekly income
Considering income from all accounts that I own, and that my wife owns, and accounts started as group projects with my funds (currently @drutter, @medikatie, @greatesteem, @hempy, and @girlsofgreen), here's the running tally:
Week 1 - 0840 (+ ? ) Steem (+?%)
Week 2 - 0848 (+ 8 ) Steem (+0.95%)
Week 3 - 0862 (+14) Steem (+1.65%)
Week 4 - 0868 (+ 6 ) Steem (+0.70%)
Week 5 - 0876 (+ 8 ) Steem (+0.92%)
Week 6 - 0888 (+12) Steem (+1.37%)
Week 7 - 0914 (+26) Steem (+2.93%)
Week 8 - 0929 (+15) Steem (+1.64%)
Average income = +12.7 Steem per week = +1.45% per week
Another strong week of growth managed to keep the average over 1.4%! Payouts for the next week are likely to be smaller, but it does look like average growth of 1.3% is possible.
At that rate, I'd hit my goal in just 4 months! At a lower rate of 1.0% it would take me less than a year.
Anyone investing some capital and a year of full-time work on a project can expect to be compensated. When I hit my goal, if Steem is $4, I'll be drawing $200 (50 Steem) per month as income. It isn't a lot in terms of money, but I'd be doing what I love, and though slowly, my account would continue to grow. That's what I call "Steemit rich".
How I'm going to spend that 50 Steem is a whole other matter! :)
Thanks for your comments and support!
Yo dude this is a great way to look at it, I need I start making notes of my weekly steem increases and stuff. The past 2 days I saw a drop in my account value, due to steem price dropping. But just taking some notes can really help, and then having side accounts too :) awesome! Good luck with it all man and keep on growing!
Definitely recommend you set a day and time you know you can keep, and mark down some of your stats once a week. It only takes a few weeks before you can calculate averages and start looking for trends. Please link me if you do a post on it!
Thanks man yea I will do! That’s a great way of looking at it:) I will start now and in 2-3 weeks time check my progress :)
Sweeeet, I totally look forward to that. It's not hard and it reveals useful info, so I'm not sure why more people aren't doing it, or maybe they are and I just haven't heard of it.
Steem on!
Steem on bro! Sky is the limit 😀
You have some great goals! You can achieve them much earlier or faster if the price of the steem goes up to $6 as it was in January.
Very true, and many think $8 or $10+ is quite possible within the next year. :)
Thanks for your comment!
@drutter You just may have given me an Idea....... #steemwillmakeyourich
Make it happen, bro! :D
Go, team. I'm glad to be contributing something of use to the blockchain. :)
Hi @drutter,
Thanks for taking part in my contest. You got my upvote.
I find your project interesting. Several accounts allow you to cross upvote your posts. Are you using services like smartsteem to use the unused upvote potential of your accounts?
A good idea would also to invest 4 steem in qurator and get free upvotes for life. I'll follow you to see how your project develops.
Best regards,
Achim
Thanks, Achim. Those are good suggestions. Multiple accounts works well for my team. Each account has its own persona and specialty. Most of the posting is on MediKatie, Drutter, and GirlsofGreen. A lot of the curation is on Drutter and Greatesteem. Hempy is a commenter and also resteems cannabis-related content. I'm sure there are better ways to do it, but this meets my goals and does so in a way that isn't deceptive or against the rules. Each of our accounts follows other people and upvotes outside of the team. I'm not entirely focused on profit. We're here to provide content, help others, and improve our world. The cryptocurrency is only a part of our experience here, and I like to watch our progress. Thanks for following and commenting!