Active Income To Passive
This is something I used to talk about years ago in my online businesses, and I had a revelation of sorts that made me think....This would be a timely post!
Back in the day, a buzzterm in entrepreneurial circles was....Passive Income.
It was like this utopian situation where you could just sit on the beach, drink fancy drinks and watch your bank account grow automatically. You never had to work, was the dream and promise, all you had to do was pay $47 a month to some internet marketing guru and your life was set!
My challenge to this popular framing of online businesses went like this....
Passive income is great. However you need to put in the work and get active before anything 'automatic' happens.
My angle was always, put in the work. Develop and focus on one income stream first, and build that up. Once it's got a solid foundation, the 'passive' starts. And it's actually something I truly believe in even today.
Now sure, there are the stories of instant riches, some kid developing some app and making millions in a week or less. But overall, the people that seem to stick with this stuff and find success, put in the work.
Now I'm going to bring this home right now for the blockchain....
I have earned a ton of $HIVE and $LEO during my time here. And most of it, is from my 'active' efforts.
I write.
I curate.
I develop relationships.
It's hardly the stuff that is pushed in today's AI centric world. Let the machine do all the work!!!!
However I was reminded this past week, on why being active on the blockchain is still a really good investment of your time. If you remember, I was on 'vacation' two weeks ago. And while I was on the road, I made 1 blog post in 7 days. The result of that was pretty much...Zero rewards.
Now flip it to pretty much blogging and curating all of last week and the rewards have shown up once again. Now don't let me fool you, I'm hardly a 'well rewarded' creator on chain. I get some support from the LEO community, which I'm grateful for, but overall, I get a few bucks from a blog post.
But guess what?
My activity meant, actual rewards instead of getting a big fat zero from just a few weeks ago. That's the power of being active here. Which in turn, if I pull out and look at the big picture.....Translates into some pretty cool passive income options. But if you don't have the capital, invest your time and effort here.
The blockchain has rewarded me greatly over the years, and I look forward to staying the course and continuing to create and build my active income streams up here....Which in turn.....Gives me the opportunity to grow some passive ones.
Note: I have set 5% rewards to @leostrategy to support the community!
Posted Using INLEO
No way
way!
@jongolson,Many top Hive stakeholders use automated tools or join curation trails to ensure their voting power is used optimally for passive earning.
Take for example,a stake of 500,000 HP on Hive provides solid, reliable passive income mainly through curation rewards, with the opportunity for additional returns and ecosystem benefit.
But this is achieved, through years of dedication, hardwork, consistency, diligence and perseverance.Like you said you must put in the work.Thanks for updating.
Yeah and even 500k wouldn't allow you to retire off curation. But it does add up for sure. Slow and steady
It's just how things go with Hive. You are rewarded for being active. Things don't come right away, but consistency is the key
It really is!
For me, the difference between passive and active income is not that you can sit on the beach and enjoy it, but that active income is always limited and passive income can be infinite.
Oh for sure. But without being active, passive never comes.
That's a good piece of advice friend; 'start active to enter passive'. That's the good thing about Hive as you just said, converting your time overtime will shift your daily rewards.
Yup, but requires people to roll up the sleeves first!
This is probably the most underestimated task on the Hive blockchain and in effect on all social media. Everybody want to write and share their ideas, they become demotivated when nobody interacts with them. Probably the main reason, besides the niche and the quality of the post, is because they don't start interacting with other. Writing genuine comments on post they like, curating content.
When I did start on Hive I did earn more by writing comments then by writing own articles.
All social media is build on relationships and communities. It takes time to create relationship and build your own brand. Time people mostly don't want to invest.
I think it's a great way for people, who may not be fired up to write entire blog posts, to get involved by commenting. There's tons of value in that!
For sure there is.
One day robots will make everything a passive income stream.
I really hope not lol
That’s what the Hive ecosystem still offers. A way to invest time to create content, to get rewarded, where those rewards can then be invested in the same ecosystem. (For instance the @leostrategy tokens)
Slowly but surely if you start active, then your passive income from your active rewards can become a significant part of your income on the blockchain.
Agreed. I think the big message I was trying to get across too was that people need to be active at first. It's a good habit to build here.
I have stopped thinking of hive as a reward mechanism or anything remotely. For that, I have Bitcoin and trading. I don't consider Hive as any income source, and in reality, I don't think I ever will.
I've been here since 2016, so I've been through all the hype and harsh times of the chain. What I can tell you for real is that the original promise was to be able to blog on a Blockchain. The promise of a maintained free infrastructure with the guarantee of perpetual availability of data, has been met flawlessly.
That's the true value of Hive and that's what has performed flawlessly. I try to think about that in 5 or 10 years from now. What would my older self like to read about young me? Which memories, mood and dreams will remind my old self about.
Will I said, "Aww I was so excited about getting rich with this token', or will I be like, "where did that excitement about technology or photography or that time in XYZ country go?". Anyway, the true value of Hive for me it's a memory vault for my future self. A moving image of my evolution as a human being that I can look back on.
Great way to look at it. It really did what it was set out to do from the get go. And that's a true memory vault of ideas, thoughts and opinions...I'm scared to read some of my older stuff lol I was living in a pipe dream back then
The most important and attractive way to be very much motivated here is being voted for by many people, I know that short contents are doing their best rewarding people at every involvement.
Why can't long posts be the same voting people very well?. It's a serious need.
Nice write-up
A person needs to make the active income and then gradually turn it to passive income
Hive is here to help