Full Time Crypto Blogger - When Does It Become A Reality?
In one of my previous articles, I talked about my 'Monthly Expenses For Living' and after I've seen a handful of similar articles lately, I figured I'd try to go one step further and to see if it is possible to become a full time crypto blogger or not. This obviously depends on your living expenses, so where you live plays a major role in this, but I will talk about this from my perspective and more about my personal chances of becoming a full time crypto blogger.
Full Time Crypto Blogger
I bet that even though most of us probably have hopes of earning something extra from our crypto adventure, I am sure that there are dozens of people out there having dreams and hopes of quitting day jobs to become full time crypto bloggers instead, at some point. Even though I personally would not quit my day job for any amounts in the world, I would love to reduce the work load and work less than I do today. You see, I love my job so I would never turn my back on that. I have found my true calling so to speak, so I wouldn't give up on that. If I ever were to become financially independent, and never had to care about money for food or rent, I would still continue with my day job. I could easily have done it for free if that were that were the case, but I would definitely work less than I do today.
However, I love to dream and think outside the box. I like to think about different scenarios, regardless if they are likely- or impossible to ever happen. It's fun. That's the reason for this article. I want to see if or when I could become a full time crypto blogger, and what it takes, if I ever were to try.
Work From The Comfort Of Your Own Home
Working from home has many benefits and even though one of the consequences would be to actually commit- and dedicate ourselves, so we are sure that we spend the necessary hours we need to generate the income we wanted, it is much different compared to this date. Even though I guess that most of us are blogging from our homes at this point. We don't rely on our rewards or crypto-blogging income in the same sense as we would if we were to be full time crypto-bloggers.
Let's dive deeper into this by looking at some numbers:
Our beloved tokens Hive and LEO sits at prices of ~$0,11 and $0,20 right now. LEO trades for ~1.78 Hive, which basically means that you get 1.7+ Hive for 1 LEO if you were to sell your LEO tokens. As most of us earns tokens from multiple sources simultaneously, we also accumulate tokens faster than ever before. This is all thanks to Hive and the different communities we have. With one single extra tag when we publish our articles, we get more tokens. That's pretty cool... But is that enough?
According to Hivestats, I have made 56.47 USD during the last week and a total of 302.86 USD in the last month. While these amounts are looking great, especially for someone who does this on the side of a day job, it looks different when I look at Hivetasks.
If we calculate these results based upon the current prices I mentioned above, we get these numbers:
482 x 0.11 = 53.02
275 x 0.20 = 55
According to this, I have earned a total of 53.02 USD from my Hive rewards and 55 USD worth of LEO, which equates to a total amount of 108.02 USD.
When I looked through the reward transfers for these last 7 days, I noticed that I had earned a total of ~96 Hive Power and ~97.8 Hive if I turned the HBD into Hive. That gives me a total of 193.8 Hive and not 468.58 which is stated on the screenshot from Hivestats. That being said, it looks like the second screenshot, the one from Hivetasks is more accurate in terms of HP.
However, 193.8 Hive at $0.11 gives me a total amount of: $21.31, so using Hivestats and/or Hivetasks doesn't seem like a good idea at this point. Nothing seems to add up.
I looked even closer on these numbers and calculated my total earnings from LEO manually:
782.81 LEO from articles, including pending rewards.
This does not include rewards from comments.
As I get to keep 50% of the rewards on LEOFinance, I get 391.4 LEO and not the 275.76 LEO that is stated on Hivestats, so the amount of USD shouldn't be accurate either..
391.4 LEO x 0.2 = 78.28 USD.
That being said, I wouldn't use neither Hivestats or Hivetask at this point, if you are looking for accurate details regarding your rewards, but I might have missed something..
Can I Do This Full Time?
My 100% vote on LEOFinance is currently worth 0.310 and we all know that you can basically vote 10 times per day to fully recharge to the next day. As we keep 50% of both curation and author rewards, I can earn a maximum of: 1.55 LEO per day from curation. As Hive and other communities have a different reward curve, we earn less and I don't feel the need to go into those details.
So, 1.55 LEO per day from curation. That equates to a total amount of: ~50 LEO per month, as my stake will grow, the votes will be worth slightly more as well. Without making any calculations, I think I'd get about 53 or 54 LEO the second month, 56-59 LEO the third month, if I only staked my curation rewards.
I don't use Publish0x and have never used it, but it seems like popular posts earns anything between $2 all the way up to $8, so I guess cross-posting could be a decent option to earn some extra money. Especially as you can simply just copy & paste all your contributions from Hive. With links to LEOFinance, Hive or any of the other communities, it might also increase traffic.
Even though I am not sure about it, we'll go with an average of $1.50 per day from Publish0x which equates to $45 per month, as long as you are active each day.
That being said, ~50 LEO per month from curation and $45 from Publish0x gives us a total of: $55 per month, at the current price of $0.2 for LEO. Add the LEO rewards from articles (78.28 USD) and we end up with a total amount of: 133.28 USD per month.
On top of that, we have $21.31 from Hive, which equates to a total amount of:
$21.31 + $78.28 + $55 = 154.59 USD.
If we look at my previous post that I mentioned earlier, I have monthly expenses of 1420 USD per month, which is the very minimum I would need. I haven't included money for clothes or any other extra costs, besides the basic stuff. 154.59 USD is a little more than 10% of the money I need, so it's safe to say that I would not be able to make this into a full time thing at these current prices of $0.11 for Hive and $0.2 for LEO.
Imagine these tokens at $1 instead..
That is about 9x Hive and 5x LEO..
With the same results I've had, my earnings would be:
- $391.4 from LEOFinance.
- $213.1 from Hive.
That would be 604.5 USD per month, which equates to about 40% of my monthly expenses.
If we saw these tokens sitting at $2 instead, things would be very different:
- $782.8 from LEOFinance.
- $383.5 from Hive.
That gives me a total of: 1166.3 USD per month.
Add the extra $45 per month from Publish0x on both of these calculations and we end up with: 649.5 USD and 1211.3 USD respectively.. With all that being said, and all these numbers, we can see that the price of $2 would make things really interesting and it would basically become doable for me to become a full time crypto-blogger, as long as I can generate the same results on a monthly basis.
I don't even have to tell you what would happen with prices of $5 or $10...
- Imagine $50..
With time, things could be very interesting and also life-changing for literally everyone, regardless of where you live.. But, you should also know that your results will change with time as well, as the distribution is affected for each token that goes into the hands of a user..
With that being said, there's no better time than right now to accumulate tokens and to start putting in effort and time to give yourself a superb chance to change your life in the future.
Posted Using LeoFinance Beta
I don’t think you can take current Hive/LEO earnings and multiply them by some future fiat price. A rising fiat price would have at least two effects. People here would probably on average use lower voting power. Folks who now give out 30% votes might shift to giving out 10% votes. And with a significantly higher fiat price for the tokens there would probably be many more active users so competition for those 10% upvotes would be strong.
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Yeah, I know it's not accurate and you are totally on point with that.
I mean, less voting power while the price goes up could potentially yield about the same results in terms of $, even though it's not likely that it follows the exact numbers that I have described here. As distribution changes, I won't earn the same amount of tokens either, but I just figured it would be a lot easier to go with the results I have today and just multiply it.
It still gives me some sort of idea of whether it's possible or not to to become a full time crypto blogger, even though it's just a rough guesstimation at the end of the day.
Posted Using LeoFinance Beta
Curation rewards do not depend on the number of users at all, which is why now is the best time to accumulate stake by earning author rewards.
This is why I bought 10000+ LEO when I noticed LEO was going up a little over a couple of months ago. My only regret was that I was too slow to react to make my purchase a couple of weeks earlier. My stake would be double the amount it is now.
Even if I only managed to grow my stake to 20,000 LP in the next 12 months, it would be worth $20,000 at $1 LEO and the curation rewards would amount to thousands of dollars per year. With LEO at $10, I might be able to make a living just by reading and upvoting posts and comments on LeoFinance. 10 per day at $10 LEO would mean $100 a day earned.
The potential is pretty insane when you think about it.. And really awesome as well.
I earn about $17.80 per hour on my day job. That's about $142 per day. Then we have the taxes at 33%.. I wouldn't mind earning 10 LEO per day at $10.. lol. The future is looking bright!
Posted Using LeoFinance Beta
If we get to $10. But that'll be no cakewalk. It will take determined effort.
That is true and I think that Leo has a decent chance actually. Perhaps not all the way up to $10, for now at least, but it feels like Leo is exactly what we need to see green numbers on Hive.
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You are correct. Everything on Leofinance has to do with LEO. USD really doesnt matter.
Of course, for paying the bills, fiat enters the picture. A higher fiat price might attract more users, or it might not. Either way, the stake will still be similar meaning curation is not going to be affected that much.
Posted Using LeoFinance Beta
Fiat matters a lot. If LEO went back to 1 cent, you can bet bottom dollar that it would become quiet around here.
Perhaps although with the community here and the progress already made, that might not be possible.
It is akin to saying if Amazon goes back to $60. While there is a greater possibility with LEO, it might be out of the realm of likelihood.
When the Leoshop gets back online, it will further the idea of operating in LEO as opposed to other currencies.
Posted Using LeoFinance Beta
But also, when the price of HIVE goes up, the amount you can give worth of upvotes goes up too.
That was his point, if an upvote is worth more in USD, people will give less.
I tend not to agree with that outlook. I haven't changed my Voting Power on a single vote based upon the price in USD ever. In fact, I never look at it when voting because it isnt material.
Posted Using LeoFinance Beta
That's good to hear. I have seen a bunch of users changing their vp as soon as the price starts to go up. At least on Steem.
Posted Using LeoFinance Beta
so don't trust hivestats got it :P! the difficult thing though is to engage and engage while creating quality content. this is extremely time consuming so if you have a full time job after a certain point it gets way to hard to maintain it as specific levels. Especially, if we say that a full time job means 8-10 hours, plus an average of 1-2hours going and getting back from work (quarantine helped with that) plus house work, food, friends etc etc
Posted Using LeoFinance Beta
Neither Hivestats or Hivetasks seems to give you the accurate details right now. You are right though, it is time consuming to be consistent, and it takes a lot of energy as you need to balance your real life with everything you want to do online. It is hard work, to say the least.
Posted Using LeoFinance Beta
It is not easy. However, if you spend an hour or two a day on Leofinance for a year, and it changes your financial life, is it worth it?
That is what people tend to overlook. Putting the time in early, especially on a great opportunity could radically alter things in a few years.
Posted Using LeoFinance Beta
I can honestly say that LeoFinance has changed my life, to some extent already, but not so much financially as of yet.
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at hive 5$ i could survive from curation.
That is pretty dope! :)
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Those numbers are cool and all, but what the heck do you do for a living?
I used to be a High School teacher and wouldn't trade it for the world... until I had three more kids. Now you couldn't pay me enough to go back to teacher.
So yeah, I would like hive at $10 so I could live off of it too - even by Southern California Standards but please do tell what you do for a living now!
Most high schools in America, teachers should get combat pay since they are warzones.
Posted Using LeoFinance Beta
You're not kidding, my kindergartener was telling me about "Bad Guy Drills" just yesterday.
"You close the doors and curtains and go in a little ball and be quiet."
Still, that wasn't why I stopped teaching, my brain just stopped being wired to do it.
If anything I've seen in movies are true, I would definitely agree.
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What I do seems to have many names.. lol
I work as a nurse in psychiatric care or as an "assistant nurse specialized in psychiatry". I work at a psychiatric ward. So, I basically treat/help/support people with various forms of mental illness. Anything from adhd and depression to eating disorders and other self-harming behaviors. They come to us first, in the most acute phase.
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Thank you for replying, you are one of the authors I follow, and this is an interesting tidbit when reading about your crypto world view.
I would say when LEO hits $1, many on here will be able to make a living from blogging on Leofinance. Of course, that will depend upon where is but I think it is a safe number.
The developed countries will need at least a couple thousand LEO a month while one of the third world ones could see it with a couple hundred.
Of course, it all comes down to one's standard of living and how financial sound one's budget is. Those who have leased cars, too much house, sending kids to private school, etc... are likely to find difficulty.
Posted Using LeoFinance Beta
$1 seems to be the price where most people would see really life-changing things. I mean, even if my rewards doesn't cover 100% of my monthly costs at $1, it definitely helps out in a tremendous way.. And who knows, at that time, I might have established myself, have a large, strong following and I might have become stronger so it is likely that my rewards are going up as well.
Posted Using LeoFinance Beta
Loving the breakdown of the stats although seems it's a little difficult at the moment to get the right numbers! At least you can see pending post payouts and work something out from that!
I think I'll just continue accumulating what I can at the moment whilst prices are pretty low and have fun, see where this all takes us!
Posted Using LeoFinance Beta