Why I don't use Steemit at this time.

hitmeasap Level X⁵

3

November 18, 2016, 1:18 am

9

Why I don't use Steemit at this time.

Some of you might know that I was pretty active on Steemit a few months back. I did some research and I made some mistakes during the learning curve but I managed to earn some decent money.

With posts that made me $150+, $600+, $800+, $300, $400 etc. etc. I'm truly satisfied. It was amazing and I loved the extra cash.

However, I haven't made a single post in 2 months now. - The reason?

First of all, Steem and Steem Dollars have dropped in value, even though Steem Dollars have managed to hold steady at around $1.. But Steem has decreased a lot.

At the time I'm writing this, Steem is worth: $0.101109, and Steem Dollars are worth: $0.986924.

That being said, the top earners who made an average of $1000 for a single post 3-4 months ago gets about $50 or so nowadays.. So it's an INSANE drop in value.

However, that's not the main reason I decided to stop publishing content there. I still love the idea of Steemit and I will most likely go back in the future too.. But I also noticed that most of the top earners got their votes (basically the money) from the same people each time. On all their posts.

That basically ended up in thousands of new users each day, all of them tried their best and they earned a big fat zero, meanwhile the users who've been members for a few months still got $1000+ from their posts. No matter the quality and no matter the post. - That's pure BS in my opinion, and even though I was lucky enough to hit the "jackpot" a few times, I just can't work in such an environment.

And that's the main reason I decided to quit. Or at least pause my contributions on Steemit. - I do understand that some people will be more likely to earn more than others and I know that some people will have more luck then others.. But to basically give the same people ALL the money, each and everytime.. For whatever crap they post.. That's pure BS.

If you're interested I'd advice you to go back to Steemit once their currency have increased and when they've managed to find a proper solution on their voting system.

I'll keep you updated!


Best Regards,
hitmeasap

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TommyCarey

I've always said that steemit was a bubble and would pop eventually. Looks like you're getting out right before it pops

I would cash out whatever you have in your profile and leave your account. I too noticed a lot of people posting garbage and getting thousands of votes, which is ridiculous. I would post some great content and get diddly squat in return. I actually got accused of doing a copy and paste job because I didn't have many posts. I bet if I was there since day 1 and had a big following I wouldn't have gotten accused of being a copy/paster

Steemits concept is pretty good, but I saw a flaw pretty soon after I started reading forum threads about it. The money was controlled by the top players and I thought the top players knew each other, which now seems like I was right. This basically means that they are/were most likely investors in steemit.com and kept the money going between their accounts so that they really didn't have to pay anyone for posting content. Now I know that there were some people getting big pay days, but we don't know if those were secondary or fake accounts made by the owners. I know for a fact that some forum and platform owners make hundreds of accounts to populate the website with posts from different accounts to make it look active. Steemit took it one step further, maybe, and threw large cash outs into the mix. I'm sure there were a few accounts that did make some good money, just like yours, but those are strategic bidding moves in order to create positive content around the internet in order to grow the platform rapidly. No one wants to see "I made $0.25 today on steemit!" but if they see "I made $800 from one post on steemit today!" it will bring in the floods and people will post loads of content for free in order to chase the "get rich quick" dream

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hitmeasap

I've cashed out all the Steem dollars I have but I have 3,968 Steem Power left. And I've also been able to rank up to level 64. Which is a decent level on Steemit. That being said, my Steem Power is worth $473.19 but I can't cash it out so easily due to their rules. However, I'll not power down as they call it. I will keep my Steem Power on Steemit for now and hope for a spike. If Steem Power increase in value again, it will be worth way more than that. At one point it was worth more than $3000 and hopefully it will rise towards something similar again in the nearest future.

I wish that Steemit will grow huge as I truly believe it's a great idea and a superb platform, but even though I have some doubts, I will leave my Steem Power in my account for now.

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Lynne

You know it sounded quite cool but something told me it wouldn't last. I don't believe any of these make money online communities will last and exactly like you said Razzy I believe that most of those members that raked in all that money were "in with the crowd" so to speak. I went there and I saw loads of rubbish posts that earned a lot of money. I can understand fun and useful posts making money but when people post absolute rubbish and earn it turns me off big time.

I prefer to spend my time writing quality posts for my own websites or interacting with members in a community like this one, where I can learn and get great value.

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hitmeasap

I know Lynne, I know. Most authors got insane amounts of money for pure garbage content. Luckily, I wasn't one of them. I posted quality content and my freelancing related ones were the posts I earned the most money from too. I realized rather quickly that some of the so called "whales" on Steemit liked Freelancing ideas and freelancing content in general, so I focused on what I do best. Contributing things based on my own knowledge and my expertise. And they obviously liked it.

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Lynne

I am glad that you found some success with it though Andre, it is nice when hard work pays off in some way... especially when it is money!

I am sure the "whales" might have been interested in how to make money freelancing lol, after all that is obviously why they were on Steemit in the first place

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Cristian

I never posted on Steemit but I can understand your frustration. Still, I have a question, would you be paid decently if you started posting again?
For some things it pays to be there at the beginning and catch everything early it seems. I can understand the frustration but being one of the members who got in early it is rather cool to still earn that amount of cash.

Looking back on marketplaces like SEOclerks it was the exact opposite, first ones of use that joined didn't had a flux of orders right away, it took months to actually earn good money from SC. hehe.

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hitmeasap

You have a great point Cristian, and sure, I had luck on Steemit. There's no question about it. However, even though I got in quite early, I still did some research before I started to publish content. That's how I usually do things. I do research, I try to find some sort of pattern and I try to see what others are doing .. And when I come up with a decent enough "route" for me to take, I just go for it. - I'm all in.

I did the exact thing on Steemit too, and I realized that freelancer content would be appreciated, as long as people would be able to find it. And that's the hard part. I tried to post at different hours and I tried to understand at what time I should publish my content to bring best results. - It was a hit and miss so to speak, but I still managed to earn a decent amount of money.

That being said, if I continued to publish content on steemit right now, and if I got votes from the same people I've got votes from earlier, I would end up earning way less. Most people who previously earned anything from $1000 and $2000 on their posts, they earn about $100 nowadays. $150 perhaps. And I would probably earn something between $1 and $5.. And that's steem dollars.. So it ain't worth it at this time. Not for me at least.

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Corzhens

From what I understand in the original post, Steemit is like Bubblews where you earn when another user posts a comment on your article. That's pretty good if you are well established on the site but it would be a disaster for a beginner. Maybe I can try that Steemit and see for myself. I want to write articles because it enhances my writing skills more than in posting in forums. However, I also want my time to be compensated.

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vinaya

I know steemit, but never tried this writing platform. I have published on numerous similar sites, I did earn good money on some sites, however, lost money on many sites when the site refused to pay or when the site shut down. One example is Bubblews. When the site was working, I was making around $400 per month in average, however, when the site shut down, I had $1300 with that site.

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