Is it possible to make a million dollars on Hive?
Yes and No
The early adopters are way in front when it comes to making money on this platform, that is for sure, there are a bunch of whales on here, that are already there, because they were here early. And I don't envy them, they took the time and the guts to get on this platform (Steem) before it was as big as it is now. But that shouldn't discourage you, as it is still early days. They always say that the next best day to start something besides yesterday is today. And the Hive we are making today, has the potential to be worth a lot more in the future. That of course will make the whales multi millionaires, but that shouldn't bother you if you become a millionaire yourself, right?
The numbers
One Hive is worth around 50 dollar cents right now. I am going to take the example of my own account now. My account is growing with approximately 365 HP per 30 days now. That is about 12.2 Hive Power per day. What equals 6 USD, but that is irrelevant. The fact is, that the bigger my account gets, the more curation rewards I am getting too. This month that is about 145 HP per month. And that will only grow in the future, as my account gets bigger. My account is close to 22000 Hive Power, with 850 HBD stacked into savings too. The value of that is about 11850 USD. Which is far from a million dollars. But we are looking at the future.
With a linear growth of 365 HP per month, my account will grow 4380 Hive Power per year. But the growth isn't linear, but slightly exponential. So a growth of 5000 HP per year is somewhat correcter. So at the current price of Hive, it would take me another 395 years to become a millionaire. But we are not thinking about that scenario.
With a Hive price of 5 USD, it would take me another 35 years to become a millionaire on this platform. Which is still a long time, but isn't that unlikely to happen.
But what if Hive price would become 10 USD?
If hive would move to 10 USD, it would take me another 15 and a half years to become a millionaire.
And what about 20 USD?
That would take me only 5 and a half years to become a millionaire on here.
That isn't so bad, isn't it? And is it impossible for Hive to reach 20 USD? I don't think so. It could come pretty fast, in my opinion. The future will tell!
Sincerely,
Pele23
Posted Using LeoFinance Beta
I am not sure, but thousands of dollar is possible in long-term.
More than a few of the big accounts here bought a bunch of tokens with fiat. Sure, a few got in really early in the ninjamine phase, but they’re a tiny minority. I doubt that anyone has made a million from posting, even The Old Ones.
The growth of the platform would in fact be exponential if mass adoption ever takes off and they begin to overlay new front ends on other web2 sites.
Right now Twitter doesnt seem to like Hive much. There arent a ton of Hive users getting engagement on there it seems. I could see there being other avenues for adoption like the gaming use cases.
When millions of new users get onboarded onto Hive just for games then the price will be sky high!
It still is a big question mark for me, why those millions haven’t come yet… Is it the learning curve?
Absolutely because there are too many moving parts for the average person to understand. When I first got into Steem I was super confused and it took me a long time to finally understand all the dynamics behind it. Now I have been on the platform for over 5 years I can say that there is too much complexity for the average user and they need to dumb it down a lot.
That’s what I have been saying for years…
Those who bought Hives at 9 cents #respect
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I would be happy with just making a decent living with it for the rest of my life.
For sure and that is my goal and to go past that. Last year at $3.41 my account was over $200K so another 4 years will maybe get me over half way at least depending on price. Within 8 years it may be possible, but then if Hive is at $10 then it will be done much sooner.
It certainly is, HIVE is much more than just blogging now. IMO blogging is only the start of how to earn with HIVE.
That line alone deserves a 100% upvote.
Posted Using LeoFinance Beta
Anything is possible because 1 Hive will always be 1 Hive. So it all relies on the price of Hive and I think it's possible with all the development happening here.
Posted Using LeoFinance Beta
I like your way of thinking. It's maybe a bit unlikely that Hive is going to be worth 10, leave alone 20 USD, but it is possible. I started a year ago when it was 1 USD, Now it's 0,50 Cents. ok, we're in a bearish period, we can assume that it will go up to 1 USD, maybe even reach 2 if it'll be picked up....
What I really don't understand and I hope you can help me and explain about it, is that you're stating that you're growing 12,2 HP per DAY? I see your recent posts have a value of 1 and 3 Dollars and you're posint between once and twice a day. That would mean 4-5 Hive dollars per day, divided through 2 to get your HP/day max.? Or am I calculating wrong, do I oversee things or are you doing more things to get to these daily 12,2 HP /day. I'm very curious and really would appreciate your help in this. !LUV
@svanbo(4/5) gave you LUV.
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