The concept of making money online is something I've been fascinated with since the inception of the Internet. It's a question I've been asking for at least 20 years. Turns out it's actually pretty hard to make money online unless you're a builder. Either you have to learn to code or hire people to code in order to bring about the greater vision. For the most part we see the same thing in crypto as well: where the users earn very little (if anything) while the builders can pump out scams left and right anonymously and rugpull to their heart's desire during the bull markets.
It's been a while since I've asked the Interwebs how to make money.
So yesterday I figured I'd give it a shot and ask chatGPT AI.
- Freelancing
- Online surveys
- Affiliate Marketing
- Online Tutoring
- Content Creation
- Dropshipping/Flipping/Online-store
- Blogging
Reading this list I was kind of shocked...
To realize that making money online basically hasn't evolved at all in the last 10 years is a pretty shocking revelation. I can and did get this exact same advice looking up how to make money online over a decade ago. How crazy is that? Why is it so difficult to make money from home using an Internet connection?
Could this be a demographics issue?
For example, a very large percentage of businesses are owned and operated by Boomers and Gen X generations. Could it be we are simply being held back because the people making decisions at the top are incompetent when it comes to incorporating new technology? Is this simply a lack of innovation or apathy problem?
Overhead cost
If it's not broken, why fix it?
Many companies are not going to needlessly pivot their business models and take unnecessary risks given the off chance they might get a little bit of money by providing work online. For the most part employers don't trust their employees to be responsible adults anyway (and for good reason). Allowing workers to work remotely greatly increases the chance of their productivity going down. Even if this isn't true, simply the fact that older demographics believe it to be true makes it true for the time being. Perception is reality.
COVID
The pandemic was a great example of companies being forced to pivot into the position of allowing money to be made remotely via leveraging our Internet connectivity. After all, this is a matter of public safety on top of profit margins. A business can't make any money if they get shut down by the government. Remote work has thrived over the last 3 years, as can measured by how many times we've seen people in a business suit and sweatpants.
Freelancing
I've looked into it and it seems like the vast majority of the time freelancers get paid way less than people who simply get hired by an employer. It's an extremely over-competitive and undercut gig that requires way too much experience given the tasks to be completed.
Certainly there are exceptions but the statistical fact of the matter is that it's not worth it unless you end up leveraging this position into moving to a place that has dirt-cheap cost-of-living expenses. And even then not really.
Online surveys
I've tried this one before... have you? It obviously pays very little because our opinions are worth very little, and they have to pay us even less than that because that's the definition of their business model.
Affiliate Marketing
I thought about attempting this one a few times with online poker sites way back in the day before the regulators stomped on them. Figured if I could sign a bunch of people up I'd be making royalties on top of sign-up bonuses. Yeah it's way harder that it sounds and once again the company you're marketing for is guaranteed to make a bunch of money off of you for the advertising.
There are situations where if you can find a niche affiliate marketing can be extremely worth it, but more often than not it can end up just like MLM pyramid schemes: you sign up your friends and family and a handful of others and then you run out of people to sign up. Meanwhile the main corporation is laughing all the way to the bank.
Online Tutoring
I'm more likely to pay for tutoring than I am to be the teacher.
Never tried this but it's probably better than most options.
Tutoring isn't cheap.
Online Store
I know a guy who does this professionally and he makes quite a bit. He buys product from garage sales and where ever else and flips items at a huge profit. He actually bought my car before I moved to PA from CA using profit he made from a new VHS tape of the movie Jaws. Unbelievable.
This business is called YoungGames / Retrodealio and his focus is on retro video game flips. Although he does make quite a bit on random EBAY flips as well (like the Jaws VHS). One of his biggest scores recently was the original first copy of a Ninja Turtles game. I believe it was Turtles In Time. First print Japanese version. Resold for 5-figures. People are nuts.
The recession has not been kind to my friend, but he's still killing it. I have him very excited about crypto as well even though we both got a bit wrecked in 2022. Long story short: Building an online store can be extremely profitable but you have to put a lot of work into it and find a very solid niche.
Content Creator
Everyone on Hive knows all about this one. We're all content creators here, are we not? To some degree or another. This is what prompted me to write this post in the first place. Looking at this woefully outdated list of ways to make money online... I can clearly see that Hive is at the ground floor of something truly special.
Show me a better way to make money online than Hive. I'll wait here. There really isn't one. Anything better than Hive requires years of blood, sweat, and tears to amount to anything, and that if you're both lucky and talented to boot.
Some people are told they should write their blog for a year without expecting a single penny of profit, while I've seen introduction posts on Hive pay out significant sums of money. Hive is unmatched across the entire internet, and still goes largely ignored somehow. It is a truly mindblowing scenario to be in. Keep stacking.
Conclusion
The ability to earn online hasn't evolved at all in the last ten years. We get the same answers today as we did a decade ago. We can either consider this a disappointment... or an opportunity to be the first crypto asset in the world to provide a truly decentralized job market to those looking to escape the rat race of the corporate economy.
The higher our token price goes, the easier it will be to provide jobs to the public. The goal here is for 'employees' of Hive to be paid less than the value they provide to the network as a whole. This is the standard business model across all scalable platforms. The difference is that rather than a centralized entity gobbling up all the profits that money goes straight into the pockets of Hive stakeholders. We'll figure it out eventually. Don't be caught off guard when it happens.
Posted Using LeoFinance Beta
This is totally true. There are some sites like Medium which I know, one doesn't earn unless you'd spent some weeks, and months before reaping the fruit of your labor. With Hive, there is guarantee you earn a little penny and as you continue, it keeps growing. This is why I love Hive for as it pays content writer for their efforts at the beginning.
But, it's a pity not many recognized Hive being such a great opportunity to jump on to. Well, the time is coming to be out of being an underdog.
Posted Using LeoFinance Beta
No, very little seems to have changed... and the old metric that 1% of the people "trying" will make (significant) money and 99% will not still holds.
I made my first "online money" writing product reviews for a site called Epinions, back in 1999... the first I know of to implement a revenue sharing model. Whereas there were a few people making $10K or more a month, most of us were thrilled to get maybe $200 a month or so. As with most opportunities, the vast majority would make a few dollars for hours of work.
I like Hive because I enjoy blogging more than my expectations of a reward. And I like the forced "savings account" in the form of Hive power... but I'm certainly not harboring delusions that this is a job! Maybe if Hive went to $25 it would bemore likely... but then there would be 25x more people competing for the pool, so it would probably end close to the same.
Meanwhile, I do make most of my living online, partially via eBay (since 1998) and partially as a contract book editor. It's not going to make me rich, but at least I get by... on my own terms.
Considering my personal experience of 2017 and 2018 I can say that it would take multiple years for those new users to compete with our community standing, reputations, and social network. Also at $25 I have a $200 upvote and make $1000 a day just from curation. Plus my blog I'd easily make a million dollars in one year. That's like international news status considering our standing in developing nations. 9 billion dollar market cap we wouldn't even be close to top 10.
Although I find most of your posts valuable, I don't think it's realistic that you would make $1M per year and that's why hive will more likely go to $0.025 than to $25. Rewards adjustment in real life doesn't work as on blockchain
I tried some of those online survey pages, it's a bloody waste of time. You need 5-10 minutes of a very personal question to determine whether you're in the target group for a survey (unpaid). To then go do another 100 very personal question that earns you 1.5$ and payouts are possible 50$+ only. It's just human abuse to create and publish those websites.
I'm still running my survey on Twitter:
97% of the Votes are funneled by a paid promotion and therefore rather unlikely Hivers. Overall only 28.4% of the people don't want to make money posting online - and I don't believe them! Everyone wants to be paid and loved for just spilling the beans all day.
Our ATH is less than $4. $HIVE is the Rodney Dangerfield of crypto.
RIP
1% of people have a chance to make money in Hive with their blog, but 99% of people have a good chance of making money in Hive with their investments.
interesting, care to elaborate? =)
Posted Using LeoFinance Beta
Let's take 100 people on Hive. One person for 1 post on average earns 10 dollars, 300 dollars a month. The remaining 99 people earn several times less.
But if these 99 people realize that the return on Hive and HBD is very high, they will calculate the return on their investment with compound interest. If they follow Warren Buffett, they will invest more in a bear market and sell some in a bull market. Their income will exceed the income of 1 person who earns $300 a month posting.
Daily work is nothing without long-term investment.
Yeah, it's pretty wild that after 20 years it comes back to a few basic things that continue to roll.
Not much has evolved. There's been small adjustments and tries and tactics but overall it comes down to those fundamentals.
My productivity goes down horribly when I have to interact with remote coworkers. I know I am biased, because I have 5 minutes walk between home and office, those that have to waste time and money commuting to work benefit quite a bit from home office. But it doesn't change the fact that if there is some problem locally, it resolves in talk-1-2-3-done, while remote interaction often includes writing issues, commenting in merge requests, trying to figure out how to describe the problem when it looks like it would take less time if I just solved it myself etc. Also when remote coworkers need something from me, they have to wait way longer. Local coworkers can just call for my assistance and most of the time I'll respond immediately (unless I have a scheduled meeting), calls from remote people are just notifications on the chat - much easier to push aside than a person standing and staring at me eagerly.
And yet in isekai mangas all the young boys and girls want to become adventurers. Free of work safety, free of social security, free to risk their lives every day for pay that barely covers immediate costs of living (if they are lucky) - certainly a career path worth pursuing. But sure, you just have to slay a dragon and you are set for life :o)
These are the old ways of making money, web3 simply brought new innovative ways which might not yet have reached enough information to be positively indexed and show in the top earning methods. But we are at the top, there is no doubt about it!
Posted Using LeoFinance Beta
Survey says: 'yes'
I think you could add gaming to this list now. There are a good number of people making a lot of money doing it. You have to run it as a business, of course, which I am not willing to do at this point. But it's actually what Splinterlands is trying to accomplish. With their land implementation the idea will be that people can develop themselves into a business where they can make money on their land, through staking, via playing the game itself, asset rental and appreciation, and ultimately maybe even advertising. This, too, is just getting started, but it seems like it may be very possible.
Ragnarok also has a long-term vision of people being able to play it "professionally" as well as using their assets in other games. The metaverse isn't here yet, but I think gaming may be what figures it out first.
Posted Using LeoFinance Beta
Gaming and streaming is lumped into the umbrella of "content creation" but yeah.
Crypto should evolve the situation even further that's for sure.
I try all too, been an internet user since 1999 when I was in high school, saw most of this opportunities develop, try each one of them but for some reason never make it or was too late, Hive has giving me an opportunity and the most important thing I was missing its probably consistency, now as an adult I can see that, it wont be easy and so far its hard some days to be consistent and show up every day.
This "making money online" will not really change anything except for the small manufacturer.
This is a great boon for those people who make something and their store can be online.
We really need more small/tiny manufacturing companies.
I know many companies that only have an on-line presence.
However, i find they have a loyal following, just like if they were a normal brick and mortar store.
The actual "stumpble-upon" is low.
Amazonium and ebay eat up that market.
Exactly.
They can't believe their eyes when they see it or their ears when they're told about it. The funny thing is that some of us are so spoiled that we complain when we see someone here make more than themselves despite all of us making more than 99.99% of all content creators online who put in similar effort.
Nothing comes close to Hive…
Dtube and YouTube Shorts are a far distant second. I’m earning about $10 a month now on YouTube with almost 6,000 Subscribers and thousands of videos that earn a few pennies a day…
Muchas gracias por tocar este tema, la verdad es como tu dices, la mayoría que yo investigue pagan poco, no vale la pena
I'm so into this post.
Making money online was one of the best discoveries in my whole life!
Freelancing and affiliate marketing for most of the reason making money 🤑🤑🤑
I don't see thing changing at this point. All the different ways of making money will still be broken down into these methods. I also don't think the online part of making money online is the hard part...I think it is the making money part as a whole that is hard...Just thinking about every other way of making money, it has some element of time or money in it...
Putting in time into something that will materialise in the future is hard...and spending money to make money keeps you in the loop of finding money...
The last option is just to give up on everything and say you tried...
~~~ embed:1629443122739421184 twitter metadata:NzU3OTU2NTExODM0NDQzNzc2fHxodHRwczovL3R3aXR0ZXIuY29tLzc1Nzk1NjUxMTgzNDQ0Mzc3Ni9zdGF0dXMvMTYyOTQ0MzEyMjczOTQyMTE4NHw= ~~~
The rewards earned on this comment will go directly to the people( @seckorama, @mistakili ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
I think this side of the income generation online has frozen, deeply, and that is not a good sign in my eyes.
https://leofinance.io/threads/@seckorama/re-leothreads-2dwqdxrmm
https://leofinance.io/threads/@cryptodonator/re-leothreads-6skynr
The rewards earned on this comment will go directly to the people ( @seckorama, @cryptodonator ) sharing the post on LeoThreads.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
Very true, the other recommendations in the list are not bad at all but there's no assurance that it pays well. Unlike hive, it gives so much opportunity to earn quite a penny. I don't understand why people keep ignoring this opportunity. Just like any other job, it requires a lot of hard work. Hive is not exempted as well, it's not that you write anything whatsoever you can earn well.
I have made money online all the various ways essentially. My experience with affiliate marketing was once I really got it cranking the parent companies would do a not so obvious rugpull and change everything breaking all your links after you just created a working cashcow. That happened to me several times when the flow really started cranking. Same thing with eBay or PayPal or some other entity. Once things really cranked up suddenly they are there trying to put a noose on you.
Been in crypto since 2013 and in the STEEM / Hive ..... other various ecosystems since 2016. It is one of the best for sure to keep the flow going. Being part of this ecosystem is hard to quantify in some respects because for instance when CubDefi launched I had already figured out the BSC stuff so I was able to jump on that opportunity and work a strategy that fortunately played out well for me and currently I'm still in the ecosystem in the bHBD-BUSD pool earning over 20%. Best in the industry.
This place is an entire economy. Frustrating at times but positioned to weather the regulators storm.
there is good affiliate marketing potential with online gambling providers, where you are paid a percentage from their total wager. there is good potential here if you have players with high wager amounts.
Posted Using LeoFinance Beta
ive done thousands of surveys online, income potential is relatively small and getting rejected from a survey is a major pain point
Posted Using LeoFinance Beta
agreed @edicted, this has been my vision since 2007 and finally we have a platform to realize this dream. Let's get into overdrive! Who's in!? :D
Posted Using LeoFinance Beta
Thanks for your great post quite sensible @edicted, our favourite part is the content creation one, effectively since 2003 we are on the net have been selling handcraft, mobile computing, solar and urban furniture, Thai hilltribe handcraft, @hive with content creation has been the one that has paid the most in the past 2, 3 months. The part worrying us is how much is the hive decentralized when you say "The difference is that rather than a centralized entity gobbling up all the profits that money goes straight into the pockets of Hive stakeholders. We'll figure it out eventually. Don't be caught off guard when it happens." Is there a risk that shareholders do what rotten centralized shareholders do usually? Meaning when the tanks is full, we fly off? Reminding of TFX and others
Posted Using LeoFinance Beta