Is Steemit Like Bitcoin Mining in 2012?

When BTC was at $2 -I made 0.0971 every few hours, or there abouts. But what good are tiny little amounts? What good is a 0.005 curation reward?

Well, I invested in bitcoin mining before @charlieshrem sold me my first BitInstant MtGox code.

Here's what I was mining...

My bitcoin mining address

I talked to friends and told them about the new currency...

Yeah, it's world wide!
No germs
No making change
No banks

Huh?

I explained how mining worked. "You just make a computer, run it 24/7 and it takes care of everyone's bitcoin transactions. No banks involved, and I get paid for it."

I would get lots of questions:

BTC per day? ฿2
Dollars per day? $4.50
Electric bill? $1200
How do you get real money?
How much did 12 GPU's cost you?

Then people would say, "You're crazy! You can't live on that."

Or can you?

Same screenshot, from the same time, in dollars.

Time makes the difference

Now the same people come up to me today saying, "I wish I had gotten in early like you did."

Well, here is your chance people! What do you think THIS will add up to? What will it be worth a year from now?

Recent rewards just for voting

Steemit is starting to look like a "monster machine" of its own. As I learn more about the workings behind voting, what makes a great post, and how to best reward those who make them - I feel the same as back in 2012.

I had the talent to build what my kids called a "monster machine" and tolerate the noise it made. I could fix it when it broke, overheated or crashed - but blogging?

I am not good with photography or flashy writing, but I can vote on it!!!

Yes, I spent a couple bitcoins on Steem Power. But with no risk, there is no reward.

Please share on Twitter and spacebook - written for non-techs -

Finally... As a professional Steemit voter, I have to say "hats off" to all of you! We have the best quality content out there. We are not facebook - but then again, who wants that?

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oldtimer (75) · 8 years ago

Interesting comparison - very possible.

$0.15

3 votes

conspiracynut (43) · 8 years ago

Early bird time is over.

$0.00

sponge-bob (71) · 8 years ago

I think we are currently -exactly- where I was with bitcoin mining. No, I didn't pay 14,000 btc for a pizza (if remember that figure right), but btc was at $2.00 each - and I saved it!
There were ups and downs. But I have not had to work for 3 years now.

iamdavidl (52) · 8 years ago

U know ... Its not facebook.. But then again.. Its not suppose to be. Why dont people compare this to tumbler.. Its a lot more like that

I wrote "spacebook" the first time. I have not used facebook in over 10 years - I would hardly compare anything too it. I am very happy to have Steemit, a place where free exchanges are free.

pgarcgo (70) · 8 years ago

Do you have some numbers? How much (in average) you should invest primarly in SP, to begining having a good salary upvoting articles/comments?

Well, I have not invested even 50% of what I had invested in bitcoin mining as of yet.
Voting with 500SP will be enough to practice and learn the ropes of voting.
Take a look at steemstats.com and steem.li to see what people do... Then do likewise.

moon32walker (71) · 8 years ago

Time will tell. Right now when price is going down hype died a bit, but when market bounces back hype will return and people will rename to Steemit and name their sons Steemit Jr.

#1 - I am an optimist
I don't need the money as much as I am looking for the opportunities to 'adopt early'.
#2 - I am an opportunist
Meaning - Its Time To Buy!!! So Pwer UP!