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RE: Change my mind a little about individual bloggers/vloggers with a dream to live off the blockchain.

in #exyle7 years ago

To a certain extent, the chance to be able to live off the blockchain will depend on how much SP one has.

Assuming 300 million total Steem, there are just under 70,000 new Steem being created every day. Other than what goes to witnesses, all of the rest, in one form or another goes to hodlers of Steem Power.

Someone who has 6,000 Steem Power controls 1/50,000th of all Steem so in some sense has a “claim” on 1/50,000th of the reward pool. By posting and earning upvotes (including self-voting of posts), curation rewards, and earning SP by hodling SP, someone who controls 1/50,000th of available SP should be able to earn 1 Steem or so a day, even without being active in communities. 1 Steem a day might not seem like much with Steem under $0.80 but if Steem’s at $100, you’ve got a living wage. Maybe not enough for a Lambo, but enough to live off the blockchain.

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But Steem price is in a strait line to the floor. Keeps falling and falling despite BTC holding at 6400 line. Something is going on from the market perspective. The more it drops the more dust votes are created.
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