I have been writing articles when it is slow at work and posting them on steemit.
I posted about this side hustle months ago and didn't get a single reply. Well, I am up to $2300 since then, solely from my articles.
Good thing about writing an article is that it looks like you are really busy doing work, which you are - just not for work! You can start or stop whenever you please, so if work needs to be done just save your document.
https://steemit.com/@getonthetrain - you can click 'wallet' to see how much my account is worth.
This looks really interesting, I have found that I do love to write. One question, do you actually make real dollars that you can take to the bank?
So this is roughly how it works. Steemit is a cryptocurrency platform, in the same vein as Bitcoin but the value is backed up by the steemit platform - as in it itself as a website. It is new, just launched in July and is still in beta, but the payouts are real.
The total amount at the bottom of the article is how much in USD it had made at the current conversion rate. The writer keeps 75% of that value, while 25% gets distributed to the upvoters based on steem power and more given to the early upvoters compared to the later ones. The 75% gets split in half, with half being paid as SBD (Steem dollars which are roughly pegged in value to the USD) and steem power (which gives your vote more power on the website and gives you steem interest).
Now you can sell your steem dollars to any exchange that also sells bitcoins, then sell the bitcoins and then transfer the currency to your bank and spend it in the real world like anything else. You can also leave it in your wallet and obtain interest, currently at 9% - but I have been getting 15% until recently.
Now steem power is like having stock in the company of steemit, think like being part of facebook and getting stock early on. You can hold onto it and enjoy more power within the platform, and any price appreciation of the steem itself. If you don't like that idea, you can 'cash out' of that in 13 equal weekly payments, which you can sell the steem for bitcoins and then for cash.
People have spent that money on travel, or a new laptop, or even buying some goats off craigslist as they have documented in articles.
If you want to read all the technical details you can search for the 'steemit whitepaper' which goes over them all.
Basically steem is created in the same fashion as bitcoins, but is distributed daily to each author/voter based off an algorithm that calculates voting power received during the day.
I know some of you will scoff at this idea, but I find it intriguing and am keeping all the steem power I earn as maybe steemit will hit it big and early adopters will become rich. I find that since I am not actually putting any money in, just time to create articles, I think it is a good risk/reward situation.
I know I scoffed at the idea of bitcoins a few years back, how could a virtual currency that is created out of 'thin air' be worth anything? I didn't buy any and I remember the price was $2.64. Bitcoins are now worth in the range of $770.
I am not saying that steem will ever reach that level, but if it gets to just 1% of that value then the amount I currently have will be worth $57,000! Not bad for writing a few articles during slow periods of work.
Edit: spelling
