Author Topic: New side gig earning possibility - Steemit  (Read 6995 times)

Socmonkey

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New side gig earning possibility - Steemit
« on: August 28, 2016, 02:00:40 PM »
There is a website that has launched, currently about 2 months old or so. It is based off of a Reddit like site, with everyone able to upvote or comment on posts. The thing is that those upvotes earn you STEEM, which can be traded for bitcoins, which can be sold for the currency of your choice.

Now, it is hard to get noticed. I have posted for about two weeks now, maybe .75 posts/day avg and have only earned $45. Mainly from just two posts that got noticed somewhat.

There are people that have a large following and make $3,000+ per post. It is pretty crazy. If you can write well and have interesting ideas, give it a shot.

Here is a link to my latest post about the Myers-Briggs personalities and how they are linked to income and frugality. It was mainly just a fun research project because the data is lacking. I would appreciate the upvotes on it though.

https://steemit.com/life/@getonthetrain/does-your-personality-decide-how-much-you-earn-and-how-much-you-save-i-found-out

Socmonkey

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Re: New side gig earning possibility - Steemit
« Reply #1 on: June 12, 2017, 09:48:28 AM »
Check the date of the thread. August of 2016. Bringing this back from the dead because I received no replies

From that humble start I persisted and I now have earned over $26,000 on Steemit.com . For just posting photographs, poems, stories, or articles that I wrote.

If you are interested now, check it out. You can also read my Steemit journey on my blog, link is in my signature.

Steemit is revolutionary. Steemit is completely free for everyone. There is still huge growth to be had, so it is not too late for you to grow there too.

Gondolin

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Re: New side gig earning possibility - Steemit
« Reply #2 on: June 12, 2017, 10:38:53 AM »
1) does a year of no replies not indicate to you that most people here are not interested or technical savvy to deal with crypto-currency systems? Necroing a thread to promote your blog is low class.

2) you will need to post a lot more proof for anyone to believe you've made $26000. And no, don't tell me that it's "all on your blog". No one here is interested in driving traffic to your blog. Proof here or it didn't happen.

Socmonkey

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Re: New side gig earning possibility - Steemit
« Reply #3 on: June 12, 2017, 10:57:06 AM »
1) does a year of no replies not indicate to you that most people here are not interested or technical savvy to deal with crypto-currency systems? Necroing a thread to promote your blog is low class.

2) you will need to post a lot more proof for anyone to believe you've made $26000. And no, don't tell me that it's "all on your blog". No one here is interested in driving traffic to your blog. Proof here or it didn't happen.

I don't give a crap if you do or not, my blog is not monetized it is just me sharing information.

All anyone has to do is click the link in the first post that brings you to Steemit. Click my name there @getonthetrain, and then click wallet. It is cryptocurrency so all transactions are public knowledge.

big_slacker

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Re: New side gig earning possibility - Steemit
« Reply #4 on: June 12, 2017, 11:30:25 AM »
I'm actually happy he brought it back because this wasn't on my radar. Now it is, not because I'm going to do it as MY side gig but just general internet knowledge.

limeandpepper

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Re: New side gig earning possibility - Steemit
« Reply #5 on: June 12, 2017, 11:46:49 AM »
Hey Socmonkey, thanks for sharing this site/concept with us. I've never heard of it before.

So I went to Steemit and browsed posts that were "hot", "trending", etc. I clicked on a few posts on topics that interested me. I have to say I am a bit skeptical/disillusioned because I'd see posts that earn $20, $50, etc., and click on them, thinking they should be quite good, and to be honest, they were a bit disappointing. This leads me to think that to earn money on this platform, you're basically participating in a popularity contest first and foremost, and it skews favourably towards early adopters who have amassed friendships on the platform for some time now, or gregarious social butterfly types who know how to work the system. Meanwhile, content takes a distant second place in terms of ability to earn you money.

That's my first impression of it, anyway. However, I'm interested in what you have to say about this. Maybe there's something I'm missing? Perhaps you can change my mind? I would love to earn money with my writing and photography, it's just that when I see very mediocre posts earning decent money on the site, it loses credibility for me.

Socmonkey

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Re: New side gig earning possibility - Steemit
« Reply #6 on: June 12, 2017, 12:06:36 PM »
Hey Socmonkey, thanks for sharing this site/concept with us. I've never heard of it before.

So I went to Steemit and browsed posts that were "hot", "trending", etc. I clicked on a few posts on topics that interested me. I have to say I am a bit skeptical/disillusioned because I'd see posts that earn $20, $50, etc., and click on them, thinking they should be quite good, and to be honest, they were a bit disappointing. This leads me to think that to earn money on this platform, you're basically participating in a popularity contest first and foremost, and it skews favourably towards early adopters who have amassed friendships on the platform for some time now, or gregarious social butterfly types who know how to work the system. Meanwhile, content takes a distant second place in terms of ability to earn you money.

That's my first impression of it, anyway. However, I'm interested in what you have to say about this. Maybe there's something I'm missing? Perhaps you can change my mind? I would love to earn money with my writing and photography, it's just that when I see very mediocre posts earning decent money on the site, it loses credibility for me.

Believe me, you are not wrong in the slightest. It was the exact same thing when I started.

Think of it this way though, they have built up those friendships and connections much in the same way a person would build up their own personal blog. If some unknown blog wrote the best post about personal finance, better than anything ever written here - how much would they make? Not much would be my guess. They would require someone with a following to get that article noticed. Or tons of shares by normal people.

Same thing on Steemit. It is a community and there are cliques there. I don't upvote unless I think the post is deserving, but others follow the popularity trail.

I have written some quality articles in the past, with tons of sourced information. My highest earning post was only $78. Meanwhile, those with huge followings have crapped out 500 words about nothing and made more. I can only do what I can do though. I continued on and gradually people found me and my content and were impressed. I grew because I engaged with other people, much like people do here on this forum. I commented on their articles, providing input or additional information relevant to the topic at hand.

With the possibility of growth in cryptocurrencies the ability to earn some with no financial risk is worth it in my opinion. Plus, there are some real quality people to follow - you just have to find them. Steemit is self-policing, people will identify wrongs and sound the horn against injustice. I have seen it before. There is also a group called "Curie" that was formed to reward quality articles from lesser known accounts. Other groups have also been created to share the best articles from newer Steemit members. I was a beneficiary of these groups.

Anyways, yes it isn't perfect. Steemit is in beta, but it is also still firmly in early adopter territory. Those that can succeed will most likely be greatly rewarded. If any of you join up, let me know and I will make sure to read your stuff there and help you out (if there is enough effort in it). Try sharing some work you have already done in the past, can't hurt can it? You don't give up control of ownership, it is still your article/photo/poem/story.

Oh and someone already reserved @mrmoneymustache for the man himself - Peter.
« Last Edit: June 12, 2017, 12:55:12 PM by Socmonkey »

limeandpepper

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Re: New side gig earning possibility - Steemit
« Reply #7 on: June 12, 2017, 12:26:26 PM »
Thanks for that, I appreciate your honesty in acknowledging that it does have the problems I observed, and explaining why you are willing to accept that and why you still think it is worth doing for you. :)  I still have reservations, but might look into it more when I feel I have the time and energy to give it a go.

daverobev

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Re: New side gig earning possibility - Steemit
« Reply #8 on: June 12, 2017, 03:47:18 PM »
How the hell do they make money?

Socmonkey

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Re: New side gig earning possibility - Steemit
« Reply #9 on: June 12, 2017, 05:18:55 PM »
How the hell do they make money?

Much like the United States Federal Reserve and dollars, Steem coins are just created out of thin air.

Cryptocurrencies are basically the same, with some hoops thrown in - namely the use of computing power. With Steemit a certain amount is created each day, those Steem coins are then distributed - some to those that run the servers and some to those that make posts, comments, or upvote. On both sides the amount is based on votes as each Steemit user can vote for a certain number of people running the servers, called witnesses. As in they all witness transactions on the blockchain to secure it against tampering.

It is quite technical and I am no computer engineer myself. Maybe some computer engineer can chime in on cryptocurrencies and the blockchain (we have a lot on the forum). There is a Steemit whitepaper that goes in depth about it all, but might be a little out of date unless it has been updated recently.

As for the users it is like driving a car, know the rules of the road and how to drive. It doesn't matter if you know how the engine works or not.

This post will explain it better than I ever could. https://steemit.com/steem/@teamsteem/steem-an-in-depth-overview

druth

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Re: New side gig earning possibility - Steemit
« Reply #10 on: June 13, 2017, 09:34:42 PM »
From that article it seems that steemit has their own currency, called "Steem" that they can hand out however they want, much the same as I could hand out as many Druth Bucks or Stanley Nickles as I want.  Steem Has no intrinsic value, but some people are (imo) dumb enough to speculate on any new crypto, so they are willing to exchange it for bitcoin, which you can then exchange for real money.

Steemit makes money by selling the Steem currency they invented.  Pretty neat trick if you ask me.

Not really any way they could scam you, since they never try to claim their Schrutebucks are worth anything in the first place.
« Last Edit: June 13, 2017, 09:37:19 PM by druth »

Socmonkey

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Re: New side gig earning possibility - Steemit
« Reply #11 on: June 20, 2017, 05:25:57 PM »
Hey Socmonkey, thanks for sharing this site/concept with us. I've never heard of it before.

So I went to Steemit and browsed posts that were "hot", "trending", etc. I clicked on a few posts on topics that interested me. I have to say I am a bit skeptical/disillusioned because I'd see posts that earn $20, $50, etc., and click on them, thinking they should be quite good, and to be honest, they were a bit disappointing. This leads me to think that to earn money on this platform, you're basically participating in a popularity contest first and foremost, and it skews favourably towards early adopters who have amassed friendships on the platform for some time now, or gregarious social butterfly types who know how to work the system. Meanwhile, content takes a distant second place in terms of ability to earn you money.

That's my first impression of it, anyway. However, I'm interested in what you have to say about this. Maybe there's something I'm missing? Perhaps you can change my mind? I would love to earn money with my writing and photography, it's just that when I see very mediocre posts earning decent money on the site, it loses credibility for me.

Limeandpepper - just wanted to let you know that Steemit just went through its latest hardfork and really address the popularity contest issue you addressed. They have decreased the rewards that the top guys are able to give, and increased the power of those with less STEEM.

Those posts that were rewarded by being upvoted by the top STEEM holders are no longer being rewarded as much, I have seen a post 'lose' $1200 because it was being upvoted by a lot of the top guys. As for my latest post, it went from $58 to $176 - I have never had much love from the top guys and now with the common voter having more sway my posts are gaining from it.

I hope you get a chance to check it out and join.

As for my vote, it went from about 35 cents to over $10. Come bring some great personal finance stuff so I can upvote it - please! :D

SharkStomper

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Re: New side gig earning possibility - Steemit
« Reply #12 on: June 21, 2017, 08:03:50 AM »
Well, I signed up this morning.  I'm not sure what I'll write about yet but I'm considering some posts about my hobbies and/or maybe technical posts regarding networking basics.  @sharkstomper

aspiringnomad

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Re: New side gig earning possibility - Steemit
« Reply #13 on: June 22, 2017, 10:27:54 PM »
Interesting concept. Posting to follow and might sign-up later this summer when I have a bit more time to dedicate to it.

Proud Foot

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Re: New side gig earning possibility - Steemit
« Reply #14 on: June 23, 2017, 08:04:41 AM »
SocMonkey,

This sounds like an interesting side gig but how is the process of cashing out the Steem you have?  I couldn't find clear answer on their site.  Have you done this before or are you holding onto it and hoping for more appreciation?

PloddingInsight

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Re: New side gig earning possibility - Steemit
« Reply #15 on: June 23, 2017, 09:29:29 AM »
Any time you trade the crypto currency for dollars, there's somebody else on the other side of that transaction.  Would somebody please give the "for dummies" explanation of why people are buying Steem currency with dollars?  What do they do with it?

anonymouscow

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Re: New side gig earning possibility - Steemit
« Reply #16 on: June 23, 2017, 11:29:01 AM »
I signed up last week, I posted a few small things just to see how it works.

It sounds like you need to find an exchange where you can trade steem for bitcoins. I have .221 steem dollars, I just picked the option to convert to steem which it says will take 3.5 days. I am not really sure what that equates to in terms of value.

I imagine people are buying steem with actual money as a speculation that the value of steem will rise.

PloddingInsight

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Re: New side gig earning possibility - Steemit
« Reply #17 on: June 23, 2017, 01:45:35 PM »
I checked it out a little.  It's all very unclear but it sounds like maybe you can spend your STEEM money to enhance your influence on the site?  So it's like being able to spend money for your reddit upvotes to have more weight than other people's?  I could be wrong.

If that's the case I don't anticipate it working out-- imagine if you could simply pay to have more impact on reddit.  What would the results be?  That's right, the front page would be full of infomercials instead of great content.

CanuckExpat

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Re: New side gig earning possibility - Steemit
« Reply #18 on: June 23, 2017, 01:56:22 PM »
How much of that making money potential is the large run up in BTC prices (compared to USD)?

RocketSurgeon

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Re: New side gig earning possibility - Steemit
« Reply #19 on: June 23, 2017, 02:01:00 PM »
When you say you have $26,000, do you mean you have converted STEEM or Steemdollars or whatever into that much US Currency?

sequoia

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Re: New side gig earning possibility - Steemit
« Reply #20 on: June 23, 2017, 06:19:11 PM »
When you say you have $26,000, do you mean you have converted STEEM or Steemdollars or whatever into that much US Currency?

Hah... you beat me to ask this question! I spent sometime looking into this. Seems like you can work part-time at a fast food place and make more per hour, but maybe I am missing something here.

Socmonkey

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Re: New side gig earning possibility - Steemit
« Reply #21 on: June 25, 2017, 06:31:35 AM »
When you say you have $26,000, do you mean you have converted STEEM or Steemdollars or whatever into that much US Currency?
Sorry, I have been on vacation.

Yes, that is the value of the STEEM and Steemdollars that I hold if I sold them at the current rates.

No, I have not cashed any out. People I personally know have done so. You can trade or sell your STEEM or steemdollars on an exchange, like bittrex.

Yes, the run up of cryptocurrencies has been a driver of the increase in account value.

People buy cryptocurrencies because they believe they will increase in value. On Steemit, their holdings have actual purpose though as it increases your influence. If people abuse the system the community can rally and downvote that post - removing rewards and reputation at the same rate that their upvote would have rewarded a post. A person won't get far by spamming posts.

@sharkstomper I will be on the lookout for you.

arebelspy

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Re: New side gig earning possibility - Steemit
« Reply #22 on: July 12, 2017, 03:46:13 PM »
Following.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

robartsd

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Re: New side gig earning possibility - Steemit
« Reply #23 on: August 31, 2017, 01:25:43 PM »
Interesting idea. Basically STEEM abstracts influence within the community into a cryptocurency that can be traded. I guess part of the idea is that intelectual work used to gain influence in the community is as valid a basis for a currency as the computational work used to mine other cryptocurrencies.

MVal

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Re: New side gig earning possibility - Steemit
« Reply #24 on: January 18, 2018, 08:36:19 AM »
There is a website that has launched, currently about 2 months old or so. It is based off of a Reddit like site, with everyone able to upvote or comment on posts. The thing is that those upvotes earn you STEEM, which can be traded for bitcoins, which can be sold for the currency of your choice.

Now, it is hard to get noticed. I have posted for about two weeks now, maybe .75 posts/day avg and have only earned $45. Mainly from just two posts that got noticed somewhat.

There are people that have a large following and make $3,000+ per post. It is pretty crazy. If you can write well and have interesting ideas, give it a shot.

Here is a link to my latest post about the Myers-Briggs personalities and how they are linked to income and frugality. It was mainly just a fun research project because the data is lacking. I would appreciate the upvotes on it though.

https://steemit.com/life/@getonthetrain/does-your-personality-decide-how-much-you-earn-and-how-much-you-save-i-found-out

Just curious, when you signed up did you use your email and phone number or did you already have a crypto account with them?

Also, I just posted on your article you put up here. I liked your insights!