Hello Fellow Steemers,
I wanted to write this post to get some real feedback and hopefully some suggestions. This is an idea I came up with but I have a few questions below to finally understand if I am calculating correctly or not.
I’ve mined around 50 Eth, I lost a few in trading here and there and ended up converting the ETH to BTC. Although the miner runs great the power bill is huge and I have yet to make my money! Still down almost $2K with losses and power bills.
I always had this dream of not necessarily having to depend on a salary. I knew something would come along the way to generate some sort of additional income. I though #mining and #ethereum would be it until… Steemit !
So I ask myself “Could generate enough steem power per month to have the same amount of Powered down money than my miner generates per month.”
My question to myself before I built the miner was “ How much ETH per month do I need to generate to cover power, hardware and X amount of time per month”.
For example if I wanted to generate $300 worth of Steem per month. How much investment, time and effort do I need to dedicate to Steem.
My biggest headache with my miner is the amount of power it pulls. Each month I have to pay the bill out of my own pocket and that hurts. To make it even harder each month I generate less and and less Ether due to increasing network difficulties but still pay the same power costs!
Actually at today’s market prices I should turn off my miner. Turning off and selling my GPU’s are my ultimate goal really.
As a business entrepreneur I try to find the opportunity in everything. The way I see Steemit has several types of ways to make money and many more lead out from these,
- Hardcore blogger: you will probably make the most due to constant posting with quality posts. As soon as 1 or 2 posts start getting attention Steem Power will rise and eventually.
- Voting and commenting: get some SBD and Steem power on posts. With no real Steem power you will generate money real slow but you will gain some with luck I guess.
- Steem Power investment: Invest in Steem Power + vote, comment and post.
- Steem Power investment (mining): Invest $ in Steem power and hold.
I’m personally not much of a writer and I may not have a lot of time to write good posts so Steem Power mining seems like a viable option.
I found this calculator in a post by 
So comming back to mi mining investment, lets say I would have invested those same $2,500 or 3.8 BTC, at today’s market prices I would have more less 926 Steem.
I updated the calculator with 926 Steem Power, changed it to 24 hours then to 30 day’s and I get 2 results:
- Interest Gained (compound): 206.121 ($552)
- Interest (Simple): 186.718 SP ($500)
*Please someone or
The fact that Steem power grows every second due to “ Interest Rates” is like if I where mining without the power costs!
So if my numbers and calculations above are correct, by investing the same $2,500 in Steem I would be generating around $500 and more each month. I get better weight note on my posts and comments but also up votes. But also as a bonus when posting stuff on Steemit people will want to upvote me because I have better steem power.
Please tell my im right or please correct me if I am wrong!
Update: I found this goo link on investopia: http://www.investopedia.com/news/steemit-disruptive-blockchainbased-media-community/
#steemit #steempower #craig-grant #truecrypto #investment #mining #steempower #howto #faw #steem