Is Steemit Worth it?
Like many games, I've decided Steemit needs to have some sort of Time Clock to tally how many hours you've wasted invested on Steemit.
After all, the allure of Steemit for most is making money.
And like any good investment, there is a time cost associated with it.
Many were drawn here by ads like the one above, or by the likes of hype men (and confirmed serial killer) Jerry Banfield.
..But is it Worth it?
From a monetary perspective, I would say unequivocally no.
If you're here expecting to pay your rent or quit your job, I think you're going to be really disappointed.
I've been looking at the wallets and payouts of those that manage to stay engaged here on Steemit for over a year, and of course the results vary widely, but outside of a couple of whales, many are making between $10 and $50 bucks per post.
Of course it took between 12 and 18 months to get there, making .05 - $5 dollars in the meantime.
I see a lot of peoples strategy appears to include a shotgun posting approach.
Consisting of shooting a crap ton of random low value posts every day to build up experience.. but even doing that sure does eat up a lot of time! (ಥ﹏ಥ)
Not to mention the time spent sucking off your peers, aka "trying to make friends".
It takes me on average about 2 hours to write a post. I know for many of you it's less, but no matter how much time you're sinking into the site.. if your goal is to make money, is it really the best use of your time?
Let's do some math.
First we'll need some assumptions:
- 30 minutes a day to post content.
- 30 minutes a day reading other peoples content
- 30 minutes a day spent checking to see if anyone has read/ liked your post and fantasizing about $10 Steem.
90 minutes X 7 days a week = 10.5 hours
Or 546 hrs over your first 12 months to build up enough experience to make more than by what is by all other accounts a rounding error on my taxes.
Sure you could get a part time job as an UBER driver and make literally more in your first night, than in your entire first year of Steemit, but hey it's an investment right?
Now fast forward, after you "make it" past that rough 12 month initiation, making literally less than a homeless man standing by the side of an off ramp.
(Drop a "Lol" in the comments if you think this man made more than your last Steemit post.)
You can celebrate your first years hardship by making a solidly average $30 bucks a post. woohoo!
(ﾉ◕ヮ◕)ﾉ*:･ﾟ✧ ✧ﾟ･: *ヽ(◕ヮ◕ヽ)
By my calculations, if your motivation to post on Steemit is the $Cash-money$, you can expect to earn a solid average return of:
$1.86 / hour!
your first year if you post every day.
Followed by $20/ hr your second year, assuming you are able to make an average of $30 bucks a post, and you again post everyday.
If that's sounds good to you, then you have not been reading my blog.
(Readers are not to question what is clearly my highly sophisticated and math intensive proprietary model for forecasting Steemit payouts)
Hey at least it's better than Reddit..
The best advice I've heard concerning Steemit comes from a rap courtesy of @scaredycatguide.
The hook goes:
"Steemit revolution, about to begin, come for the money stay for the friends..."
Couldn't have said it better myself SCG.
Until next time.
It's your move.
JESS
*If you enjoyed this article, send it to all of your friends. If you hated it, send it to all of your enemies!
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As one of the people who came to steemit about five months ago, my main reason was for having a blogging and writing platform that I was not responsible for maintaining. I knew nothing, and still limited, about cryptocurrency.
I use steemit to make connections in the certain areas of interest, write 2-4 posts per day, comment the heck out of good content by solid members and am not expecting to get rich quick.
There are too many people who join are expecting to write a few posts, make tons of money and life will be good. Mmmm, really? Then this is NOT the website for them.
Amen goldendawne, not it is most definitely not.
100% agree with Goldy.
The ones who are here and think they can make quick buck are already back on Failbook.
And besides that, don't forget the potential behind Steemit. 1 Steem dollar is now worth 2 USD.
That means my account value has doubled.
If it rises just x10 (which it will) I will be pissing from the moon down to earth.
Lol, @failbook. And that is quite the visual. I've been following some pretty talented artists here on Steemit that could probably make that happen, like @rambai
Aside from a few Steemit whales, I think you are correct when you say Steemit is not the place where you are going to make a lot of money. In other words: "Keep your Day job".
I couldn't agree more. We need to make a new ad @simivalleyjeff53 !
I find this post amusing because I literally lived it. Posted 6 days a week for a year making small $$$s. Now the past few month I avg $20-30 a post.
If I did all the math I'm prob stlll sub $10/hr.
Sometimes steemit makes me feel like a sucker.....LOL
Good thing I am also here for the friends!
Haha, thats crazy, and good thing.
If not, STEEMIT wouldn't have such an epic rap song!
Hey how do I post it so that the SoundCloud shows up in my post instead of a link?
I'm sure more ppl would listen in passing if they could just click "play"
You have to grab the embed code. If you go to the track on sound cloud and hit the share button, there is an embed tab. Hit that and copy the code and paste it in your post.
You are not right, I was thinking the same about a few days ago, and I tried everything on steemit, I wrote a lot of posts, and shared pictures, I drew and sang, I moderate a group of 17000 memebers, and I am posting everyday on steemit, but non of that helped me !
The only thing that will help you make money here is to buy those upvotes and when you get some steem dollar buy again and again, even jerry I think he is doing that and a lot of people that earn good money here.
There are a lot of bots and they are all traked here : bottracker
So try it and tell me after a few months what do you think about steemit. ☺
I was hoping to have some good dissent from my views, so well done Sir.
No I am not going to try that, because that would imply investing more than my one post a week.
From my standpoint Steemit is not an investment vehicle. I have a trade that just made me 10 grand, what do I care about bots?
I am interested in Steemit however, so tell you what, how about you do those things and I'll follow you and upvote your success! (ﾉ◕ヮ◕)ﾉ*:･ﾟ✧
thanks follow me and I will do the same, you can also join my group on steemit where I am supporting people from steemit for a few months, here is the link to the group : ↕ Resteem to steemit
And those are the rules : The rule of The Resteemers is: ''Resteem to be Resteemed''
we don't have to give up if we find difficulties, we have to fight to the end, steemit is for bloggers and bloggers have to be strong !
LOL :D
I really think you should patent your "highly sophisticated and math intensive proprietary model for forecasting Steemit payouts" as I think you're onto a winner! ;)
I like being here so far because it gives me the motivation to write what are (to be) hopefully good articles which will be of use to people even in the future. Any $ earned is a bonus. I've also joined in playing the @steempunknet game which adds another level of fun to using the Steemit system.
May the road to riches move ever forwards. :)
Thanks! I'm already in talks with my patent attorney. I've never heard of the steempunknet game, but I will take a look. :D
Hype man and confirmed serial killer Jerry Banfield!! hahahah. You got a triple knee slapper there.
I met the dude at a Steemit meetup in the summer. I don't think he's a serial killer but hey!! Maybe you know more than me.
Lol, thanks. And yeah that's cool, I was just screwing around.
nice info @theroadtoriches ..Really worth reading
Thanks Aurah! :)
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STOPYou're better off investing yr quality professional writing in a wordpress blog - save Steemit for more personal and oddball stuff!
Thanks, that's not bad advice, I've actually struggled to find the time period.
Researching my investments has been eating up all my free time after Dad stuff!