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Steemit - A new ERA in Social Media? - Part 5

  • hitmeasap Level X5
    • 43

    Write the reason you're deleting this FAQ

    Part 5 and probably the last part..

    If you've read all the previous parts, you now know everything about what steemit is, how it works, how to create posts, use tags and you'll also find information about some of my own payouts... Right?

    If you've missed any of them. Take a look here:



    So, in this last part (probably the last) I will go back to what I said in Part 1. -Remember what I told you?
    -It works and it's legit. You can also withdraw your earnings.


    And now I'll show you that it's true.

    First of all, the withdrawal process is a bit annoying.. At least for me who's not into this cryptocurrency things at all.. There's also step-by-step guides and how-to's on steemit that covers this as, so I won't do anything like that..

    Instead, I will tell you this.

    You transfer your Steem Dollars to an exchange site. On that site, you'll sell your steem dollars for bitcoins.. And bitcoins is what you'll use. Either to pay with directly using some VISA card or whatever the options are, or, sell your bitcoins for USD and get paid directly to your paypal account.

    I did the latter and unfortunately I lost a ton of money doing this.. (1 BTC = ~$850 when I did this.)

    Here's my BTC wallet.

    Steemit - A new ERA in Social Media? - Part 5
    And here it is on my paypal account


    Steemit - A new ERA in Social Media? - Part 5


    Sorry for not providing you more accurate proofs than this, but you'll have to take my word for it. Oh, you could count the amount of BTC from my withdrawal history and multiply that with the BTC worth ~$850. Then you'll see that these numbers adds up.

    For instance:
    0.0998 (the BTC amount) x $850 = $84,34 .. Which basically match that $75,98 payment I got.


    With all this being said..
    Steemit works and you can cash out your earnings.


    I would also recommend that you read their "white paper" for an even better understanding of this. I haven't covered Steem Power and "Power Down" for instance, but it's too much to explain.. Especially now when I've already made 5 parts of this.

    That's all for now. Feel free to ask any questions, discuss or do whatever you want. I'm here, and I'll try to help you with any questions you might have!


    Best Regards,
    hitmeasap
    #Steemit #Steem Technology & Internet
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    anwebservices

    anwebservices

    So glad to read this because most of us were very skeptical about Steemit at our previous debates due to lack of information we could find. So i am very happy that you take time to research all this so far and share your experience with us. At the moment it makes more sense to me. Not completely yet Steemit - A new ERA in Social Media? - Part 5 but good enough for someone who looked at that site for few minutes only Steemit - A new ERA in Social Media? - Part 5

    I bet this is going to rise some nice discussions here too. So at the moment i am confused about what you said:
    I did the latter and unfortunately I lost a ton of money doing this

    Why is that? I am actually not into cryptocurrency at all so i probably missing good part on it Steemit - A new ERA in Social Media? - Part 5
    Also, what exactly you mean by this:
    Either to pay with directly using some VISA card or whatever the options are...

    Glad to see that you made nice amount of money out of it. Yeah you probably seen people making a lot more, but hey when you make just few bucks for having FUN of few words it's a lot better then work hard for something else Steemit - A new ERA in Social Media? - Part 5

    For now i will only add one more thing. I am still bit confused. If there is so much money getting paid out, then where the money coming from??

    Thanks for your time and nice share of your research
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    Hey anweb, I'm glad you liked it Steemit - A new ERA in Social Media? - Part 5
    bet this is going to rise some nice discussions here too. So at the moment i am confused about what you said:
    I did the latter and unfortunately I lost a ton of money doing this

    Why is that? I am actually not into cryptocurrency at all so i probably missing good part on it

    Also, what exactly you mean by this:
    Either to pay with directly using some VISA card or whatever the options are...


    I'll try to explain this in a better way..
    I'm not into cryptocurrency either, and I've actually never been interested at all, until I found steemit. It's not until now that I've started to realise a few things about it.

    So, the reason I lost money is due to the fact that 1 BTC is worth $1014 right now (at the time I write this) and by doing the things I did, to transfer it into my paypal account, I lost money because I only got $850 for 1 BTC. That basically means that I lost $214 for each BTC I had.. So it's a total bummer.

    However, I had to do this because of two reasons. First of all, I had to see if it actually worked. If Steemit was legit or not. And the second reason was that I'm in need of cash right now, so I couldn't wait to do it in another way.

    Anyhow, let's move on to your next question.
    I'm not exactly sure how it works, but you can get a Visa Card that works with Bitcoin. A Bitcoin Visa Card. With that, you can withdraw real money in an ATM in your local currency etc.

    I know that at least one of these cards aren't supported in Sweden, so I've never bothered with it.
    10 years ago
    1969-12-31T19:00:00-0500

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    anwebservices

    anwebservices

    Aham... It's clearer now, thanks for your replay. In meantime i was viewing some posts and comments on Steemit and found you there. Actually also impressed by "StellaBelle" story and her journey to become dolphin Steemit - A new ERA in Social Media? - Part 5 Well sounds like fun to me and i will be hopping in ;)
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    I'm glad to hear that anweb. I hope you'll have much success! Steemit - A new ERA in Social Media? - Part 5

    One of the best things with steemit, in my opinion, is that you actually DON'T need to create any content yourself. You can just vote and comment on other people content instead, and still earn Steem Power and Steem Dollar. So good replies on great posts could make you hundreds or perhaps even thousands of dollars too. That's kind of amazing! Steemit - A new ERA in Social Media? - Part 5

    And yeah, Stellabelle is fantastic actually. Indeed THE true "dolphin" of Steemit. Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    anwebservices

    anwebservices

    OK i am in with username "lead" (wanted something short and memorable) found your posts, voted and commented, so i will be looking around to get some more good ideas how to make some good reputation there too ;)
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    Yeah I saw that. That's awesome! I upvoted your comments and replied ;)

    Oh btw. Steemd.com/@lead - Check that you. To the left you'll see "Voting Power". I don't know exactly how it works, but you should always try to be above ~80%. For each vote you lose 0.5% I think, and it can vanish very quickly. It adds up again, automatically though, but it takes time if you drain the all of the power.
    10 years ago
    1969-12-31T19:00:00-0500

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    TommyCarey

    TommyCarey

    I'm a little confused.

    So when you make $3,000 on steemit you actually walk away with a few dollars?

    I though Bitcoins were more than $3 a pop? Or have they dropped dramatically since they launched a while back?

    I really want to get into steemit, but if I can' only make a couple bucks a day off of it I'd rather focus on other revenue streems in order to make a hundred a day off of them Steemit - A new ERA in Social Media? - Part 5

    Steemit has a really cool idea, I just want to make sure that it's profitable before I jump into it. I understand you just make a post and hope to get something similar to an upvote, and that it's there forever to make money, sort of.

    Let's say you make $3,000 on steemit, before the split to steem and steem power, how much would you walk away with after you flipped your steem for bitcoins and then sold your bitcoins?

    I think the $ sign is deceiving since these people are actually earning steem, not USD. And if the conversions drop dramatically between currencies then how much could I actually make. If you can answer this for me you'll either make a long term steemit user or just a casual one lol Steemit - A new ERA in Social Media? - Part 5 I do have a few great posts in mind that would probably make a couple hundred, or a few thousand if I'm lucky Steemit - A new ERA in Social Media? - Part 5

    So if you could answer my questions, I may have reiterated a few, I'd be grateful Steemit - A new ERA in Social Media? - Part 5


    Thank You,

    Razzy
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    $1484,85. That's what I've managed to cash out so far. From Steem Dollars, to Steem, to BTC and to Paypal.

    With that being said. I still have: $803 worth of Steem Power. The reason I never talked about Steem Power is because it's too much to cover. At least for me when I'm still a rookie. Steemit - A new ERA in Social Media? - Part 5

    However, I'll do a tiny explanation of it. You can "Power Down", which basically means that you'll get your Steem Power transferred to Steem Dollars. That whole process takes 104 weeks and you'll get that amount divided by 104 times.. Once per week you get 1/104.

    Did that make sense? Steemit - A new ERA in Social Media? - Part 5

    If you make $1500 on steemit, you'll get about $850-$1000 in Steem Dollars and something around $300 or so in Steem Power. I don't know the exact numbers I'm afraid, but let's do it this way instead.

    I've made, $527, $1167, $963 from my top posts. That's a total of: $1707.

    With my LOSS during the transfer from BTC to PayPal which I explained in my post above, I've still managed to cash out $1484,85. That would probably be about $1150 or so in case I didn't end up losing money on the transfer. (Could be less or could be more. I haven't checked.)

    And WITH that, I still have those $803 in Steem Power left..

    With that said, you earn steem power and steem dollars when you upvote other peoples content and when you reply. As long as others upvote your comments and if you upvote content that "goes big".

    It's a whole science, so in case you're really interested, then I'd recommend that you read the white paper I mentioned.
    10 years ago
    1969-12-31T19:00:00-0500

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    anwebservices

    anwebservices

    From the last few sentences it sounds like teaming up would be also nice idea to boost each other's steem power with upvotes and comments etc... What you think?
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    That is correct but it's actually just "half-true". When you start out you'll have so little Steem Power so it won't be of any real use for others, no matter how much you try to upvote friends comments or content. However, if you could get a discussion on-going in one of your posts, that will help your content to become "trending", which would increase the chances of getting spotted by some dolphins or whales. But it will take a lot of time.

    However, teaming up is still a superb way of helping each other out and many users are already doing that. Both Whales, Dolphins and Minnows.
    10 years ago
    1969-12-31T19:00:00-0500

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    anwebservices

    anwebservices

    Well everything counts in, so i am willing to team up and build synergy success Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    That is actually a good idea. However, the best way of doing this would be to comment on each others content. Upvote the content is obviously good too, but it doesn't generate much at all. I think it's $2,01 or perhaps even less than that, when you first start out. Due to the Steem Power.
    10 years ago
    1969-12-31T19:00:00-0500

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    TommyCarey

    TommyCarey

    Yup, that answered my questions and now I'm hooked Steemit - A new ERA in Social Media? - Part 5

    I think I'll be posting on there all day now and trying to get a good amount of cash payout before the market crashes lol Steemit - A new ERA in Social Media? - Part 5

    Even if I make just $3,000 extra each month for posting a few dozen times, I'll be extremely happy Steemit - A new ERA in Social Media? - Part 5

    Thanks hitmeasap Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    Hey Razzy, I just thought I'd give you this update:
    hitmeasap author reward: 317.189 SBD


    SBD is Steem Dollars. That post ended up with $984.57 in total.. And the money I can withdraw directly is the SBD. 317 that is. That's actually 50% of the earnings and not 60% or what I said earlier.
    10 years ago
    1969-12-31T19:00:00-0500

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    Webguy2024

    Webguy2024

    Interesting... I'll take a look at it. How long have you been a member of Steemit? What is the timeframe to earn the BTC, bitcoins or money you are showing in your wallet?
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    I've been a member for about 16 days now. And made, perhaps somewhere between 15 and 25 posts in total or so. I haven't checked Steemit - A new ERA in Social Media? - Part 5

    Well, the timeframe is like this:
    You create a post and that post will only be "live" for 24 hours in case you don't get whales to upvote your content. If a whale upvotes your content you'll get extra time. I don't know exactly how that works, but I've managed to have one of my posts live for about 32 hours or so in total.

    The money I showed you is BTC. Which I've transferred to my PayPal account (USD). To change your steem dollars into BTC takes less than 5 minutes.
    10 years ago
    1969-12-31T19:00:00-0500

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    Webguy2024

    Webguy2024

    Thanks for the quick response! I'll be checking this out in greater detail. It looks very promising from the initial glance and the earnings are impressive for such a short time frame. I don't fully understand their business model so, I can't comment, yet. Also, thanks for showing your PayPal transactions it is good that you can cash out. What exchange are you using for this? BTC is now trading around 654$ and I would keep a percentage of BTC in your wallet should the value of bitcoin go up, (only use risk capital).

    Do you know how long has Steemit been in business? How many members do they have?
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    No one knows exactly how the business model looks like... Steemit - A new ERA in Social Media? - Part 5

    Most people are using bittrex. There's a lot of guides on steemit about the whole process. It's very easy when you've read that. Even I could do it, multiple times in fact, even though I'm an utterly noob. Steemit - A new ERA in Social Media? - Part 5

    I can't remember the exact dates now, but they issued their first payments 4/7-2016. And I believe they had been live for a month or so before that, so it's quite new. The earnings people made before 4/7 was kept in their accounts, and since that date, anyone can withdraw their cash. Even though most people seem to save almost everything. And most people invest A LOT of money in Steem Power... And I mean A LOT of money.

    Earlier today (or yesterday actually as I haven't slept yet Steemit - A new ERA in Social Media? - Part 5) it was 33,000 users. They re-opened signup for new users 2 days ago.
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    Oh, I missed the thing about BTC. Yeah, I'm aware of that and I will keep BTC in my wallet as soon as I've earned a bit more. I'm in a bit of a "tricky" spot right now, so I've had to withdraw everything I could.. But I will definitely save some BTC! Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    ajlancer

    ajlancer

    Hi hitmeasap thanks for your excellent tutorial. I get very interesting part from 1 to 5. And I read all parts within few minutes. Though still for me most of the things are fuzzy. May I need to read more your tutorial for better understanding. Despite of I think that may my potential another sector for earning money. Is they payout only by Cryptocurrency? If so how to become as normal currency like as PayPal? You almost said but is it easy to convert? Do you tell me is there any special requirement to create an account? I mean is there any age or country restricted? I should contact with you for further information.

    Regards by Ajlancer
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    Hey ajlancer,
    Thank you, I appreciate it Steemit - A new ERA in Social Media? - Part 5

    I have never heard of any restrictions at all and I don't think there is any age or country restrictions. At least not at this time. You earn a cryptocurrency called steem dollar and it's the only currency you can cash out. You will need to transfer your steem dollars to bitcoin and sell your bitcoin for USD. The process sounds annoying and tricky and I agree on the tricky part. It's kind of tricky, especially if you've never used any exchange sites earlier. However, it's very easy to understand by reading some of all the guides and how-to's on steemit.
    10 years ago
    1969-12-31T19:00:00-0500

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    ajlancer

    ajlancer

    Hi hitmeasap thanks for your reply. I created an account already by connecting Facebook. Yes I do not see nothing restriction there. And I am sure I need to learn more about this. Your all parts really informative but I should expect more from you for further help.

    Regards by Ajlancer
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    The learning curve is huge. I've been on steemit for about 16 days or so and I still consider myself a rookie. Feel free to ask whatever you want. I will try to help you in the best possible way I can Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    Lynne

    Lynne

    Oh wow Andre, just out of interest how much time and effort did you put in over how much time to earn that amount and would you say it was worth it in the end?

    I am glad to hear that it works and that you can actually cash out even if I still don't quite understand how it all works. I might just spend some time on this Steemit and see if I can get some joy out of it!
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    Well, as I spend most of my time staring at my monitor it's hard to tell... Steemit - A new ERA in Social Media? - Part 5

    Let's say this.. I spent several hours for starters creating posts, waiting for the results and all that.. And during the time I saw that literally NOTHING happened.. I had to try different things. I made some changes, I tried this and that.. And finally I went "huge"..

    I don't know if you saw my latest post on steemit?
    This one: https://steemit.com/steemit/@hitmeasap/steemit-i-will-tell-500-000-people-about-you-and-this-will-make-me-go-big


    I spent like an hour or so on that one. Writing, coming up with the actual idea, finding images.. So yeah. Say something like an hour. I'm not native in English either so I suppose one could do this faster Steemit - A new ERA in Social Media? - Part 5

    So, in THIS specific scenario. 1 hour of work.. And a pending payout at the time I write this of $1550.. Yeah, it's worth it. Steemit - A new ERA in Social Media? - Part 5 (When the fee's have been covered and when I get this on my paypal account, in USD, I'll still have something like $700 or so.. Best paid article I've ever had. Steemit - A new ERA in Social Media? - Part 5)

    However, I've been lucky. Not as lucky as those $15,000+ people, but still very lucky as I've been seen by a "whale" on a couple of my articles..

    I usually share things for free.. And as long as I have that mindset on steemit, I'm totally fine with earning nothing on some of my posts.. Suddenly, a $750 one will come... Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    EliteWriter

    EliteWriter

    I am really glad your work and determination had you earn something, and it is a good payout for sure! I do hope to check out this site in the near future. I think it does have potential considering that you showed us evidence that you were paid, and after going through each of your 5 posts and the comments others posted, it seems that many have been encouraged to join it thanks to your explanations and clarifications. I am still a bit confused about the earnings division, and if anyone with any kind of Visa can withdraw actual money to PayPal as I have no idea whatsoever on bitcoins.
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    Thank you EliteWriter, I appreciate it. I've been lucky on steemit so far and hopefully I'll continue to make a decent amount further on too. You cannot withdraw money to any kind of VISA. You'll need a special "bitcoin VISA" and I don't know anything about that.. I just know that one of those cards I read about was only available for people in the US.. So I had to withdraw money using other methods.

    I don't know much about bitcoins either.. As I've never been interested actually.. But I am now. I'm interested in steem, steem power and bitcoins. Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    anwebservices

    anwebservices

    Did anyone else signed up and interested to team up? Let's do it, this is me https://steemit.com/@lead
    10 years ago
    1969-12-31T19:00:00-0500

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    hitmeasap

    hitmeasap

    I know that Webguy2024, signed up. But I can't say if he's interested in teaming or not.. I can't see a reason NOT to do it though. Hopefully others will join & feel the same way Steemit - A new ERA in Social Media? - Part 5
    10 years ago
    1969-12-31T19:00:00-0500

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    Webguy2024

    Webguy2024

    I am interested in teaming up. What is the plan? Lets discuss this via PM.
    10 years ago
    1969-12-31T19:00:00-0500

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    MarioR1

    MarioR1

    Hey Webguy2024 I am one of your Jamaican sales staff, you know who I am . I will be sending you a PM to discuss teaming up with you to work this Steem it platform, awesome your the best , thanks so much for the detailed info
    10 years ago
    1969-12-31T19:00:00-0500

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    Webguy2024

    Webguy2024

    Hi Mario!
    I am glad the info served you well. However, we should both be thanking Hitmeasap for the post! I would not have known about it otherwise. ---> WAY TO GO HITMEASAP!

    P.S. Vote up @hitmeasap posts up to give him the cred on Steemit!
    10 years ago
    1969-12-31T19:00:00-0500

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    Corzhens

    Corzhens

    When I checked on Steemit, it looked good at the outset especially when you consider the discussions found on this site. But when it came to the earnings and the withdrawals, I was turned off because of the crypto currency. Now you are saying that you lost money in the conversion of Bitcoins to US dollars. That is a big letdown.
    8 years ago
    1969-12-31T19:00:00-0500

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