I don't live off Steem, or crypto in general. Maybe some day, who knows?
But there are quite a few who in the excitement of December (or maybe even earlier), decided to let everything behind and depend entirely on crypto income.
I believe in some coins on the long-term, but as we can see, the crypto land is not yet mature enough to live off it, entirely. There are exceptions, of course. But exactly because these are exceptions, it means for the majority of people they won't work, if these people need to live off crypto income.
Fiat is still regarded by most people, with good reasons, the reference point. Because prices of their living expenses are in fiat, not in crypto. That means everything they make or earn in crypto they immediately relate to its value in fiat, because that's where they will use it and so, that's the value that matters to them.
I believe there will be a shift of influence from fiat to crypto. But it certainly won't be sudden, and apparently it will take longer than most anticipated.
I think even the adversaries of crypto know fiat will be history at some point. They only want to delay the moment and make the transition in their own terms.
There are two stages that need to happen, to make this shift possible at a grander scale:
- the exchange between any viable fiat currency and any viable crypto currency and vice versa needs to be as seamless, quickest and cheapest as possible
- the crypto economy (as in products and services that can be paid directly in crypto), needs to grow exponentially.
The order of these stages is either as listed above, or in parallel, because it's hard to imagine a growing crypto economy without important infusions of capital into the crypto world coming from fiat.
Crypto Prices and Opportunities
I said above:
I think even the adversaries of crypto know fiat will be history at some point. They only want to delay the moment and make the transition in their own terms.
One way they can make the transition in their own terms is by amassing important crypto before others do, all while using FUD and other techniques to keep the price from raising and scaring small, needing or week-hand investors into selling. It is unfortunate, but it is probably one of the things that are happening as we speak, reducing even further the decentralization.
But this doesn't present an opportunity only to big players. Smaller investors like you and me can buy too when the prices are good. For example, I kept buying small amounts of Steem. Of course, Steem also earns "passively", when it's powered up, which is an advantage compared to other crypto coins (not a financial advice).
Hopefully this long period of drought in the crypto land, compared to fiat, has not driven away too many good people, in search of other living arrangements.
It's easy to say "think in crypto" or "think in Steem", as I've done too, but hard to do when you're living off it.
Eventually a bull run will come. And everyone will be happy. Especially those living off crypto income. I would recommend you the strategy 