Can you make a decent living from Steem?

in #steem6 years ago

View the original post on Musing.io

There are many dynamics involved in what one would consider "making a decent living from Steem." and whether or not it is possible. 

First I will say it is very possible, and people do it. I'm not one of those people, but they are on the blockchain, and they are known. 

The most important thing to consider first is, what do you consider a decent income? Some regions of the world require much less Steem for conversion of native currency, and for some a small amount is actually quite decent because of this, but for some, a 5 dollar upvote a day would not cover their coffee habit. If you feel 35,000 is a decent annual income, this will likely be easier to achieve than 100,000 a year, and if you think you are going to do this organically, it will be extremely hard. I don't want to say it isn't possible, but with my current understanding of the ecosystem, organically making a salary that you can live off is next to impossible on the Steem blockchain without your own out of pocket investment. How large of an investment you need will be dependent on how much you want to make. Now here is where things get a little tricky.

To make income, you need upvotes. Consistent upvotes. These upvotes can be organic, or automated, but they are not easy to get. The big vote that is, the vote that will put food on the table, and have you whaling up in a matter of months, no those won't come easy at all, and by investing your own money into the platform, you are going to need to do one of two things to start generating income, you either :

  •  Pay for bid bots.
  • Self upvote all of your posts.

There are a couple of other ways you could generate revenue, but we will keep it simple. If you do this, you aren't actually using the platform for anything other than a "printing press." What I mean is, if you have an insane amount of Steem Power as you say, and you are using it for self upvoting, and buying votes, then you aren't actually making the money, you're actually just partaking in practices that have questionable ethics. 

The dream for most of us is to be able to make a decent income blogging on Steemit, while receiving generous upvotes that supply a steady stream of income, and getting paid to do things we love.  This would require no upfront investment, and it would be a bloggers paradise,  with hoards of people adding content rich blogs to the blockchain, but that doesn't mean everyone is going to be good at writting/blogging, and it doesn't mean we are all going to make a decent income at it, even if things were a little more fair. 

The reality of what the Steem blockchain is right now, can more accurately be described as a capitalist market. Money makes money here, but things are changing I believe. I am starting to see a shift. Nice dapps are emerging, many non-serious enthusiasts are leaving, and the one's that are sticking around want to see Steem succeed. This is good for the economy. I find it very exciting.

Right now is a good time to make Steem. I wouldn't give up on the possibility of making a nice income on Steem platforms, but at the same time, set realistic goals for yourself, and don't invest more than you can afford to lose. 

I hope my response helps.


Sort:  

Nice analysis dear @futuremind! I can't make a living out of it, at least not right now. Maybe if steem was up a bit, that would help. Anyway, I've never used bots and don't intend to use them in the future. I believe in organic growth.
Of course it's nice to make money blogging but this is more than just that for me. It helps to grow, to develop, to learn, to meet people, to connect etc.
One thing I would never do, to invest my own money ;) I'm not there yet 😉
I was glad to read your article, reblogged, well done!

Hey @erikah, yes it's not possible for me to make a living off it either, not even close right now, but I agree, I like the social aspect, and rewards aspect, even if it's not allot, it makes you feel valued, and of course soaking up all the great content around is pretty nice too.

I used to bot, and when everything started making sense, I realized its no good for our platform, so I stopped. I'm happy I did actually, because amazingly after stopping, I started getting a little bit better support, and I feel like I earned it more.

The investing was minimal because I've actually moved quite a bit of steem in and out for different things, but I'm actually enjoying earning during the dip, and making nice gains in Steem power. I've noticed yours has been going up nicely too, great work!

Thank you for the reblog, and thanks for the comment. It's always a pleasure 😘

Posted using Partiko Android

Not self posting or bidbotting so far... guess I can't live from Steemit quite yet though ;-) but kind of fancy to try a bit longer the organic way :)

I used the bid bots for a little while, but ultimately decided to go organic. I'm comfortable with my decision, and I'm grateful for the small amount I do make organically, because for some, it's much harder.

I try to remain as active on here as I can as well, but some days it's not always easy to get into the mindset, and of course, there is more to life than steemit!

Thank you for stopping by! @yidneth

At first I did not like the idea of the bots, however, they do allow for a better exposure of the posts. I have started to buy SP, I consider it now an investment.

Its a free market my friend. I used to use bots myself, but I found that it's not as profitable as I thought it would be, and decided I think they are more of a detriment to the economy than anything. From an investors perspective, of which I also am, I can totally understand wanting to make a return, but to me this is about more than just making money. I get to do something I enjoy, while getting paid for it, so that makes it something I want to preserve, even if I have to sacrifice faster growth for the greater good.

Thanks for stopping by :)

May be only in 2020 :)

Maybe. Perhaps we will be whales by then :)

Coin Marketplace

STEEM 0.31
TRX 0.11
JST 0.034
BTC 66441.00
ETH 3217.31
USDT 1.00
SBD 4.22