How your ACTIVITY on the blockchain can feed PASSIVE income.
Recently in the CTP Telegram channel I saw the phrase:
"The active feeds the passive.."
This was said about earning tokens\income from the Hive blockchain.
That's a phenomenal way to look at blogging online, especially for something like Splinterlands. Let's go through how that's done.
Consider this scenario:
- You want more SPS but don't know how to earn it quicker.
- You can string two words together to form a decent sentence.
- Splintertalk has a token that's paid for content creation and curation(upvoting) rewards: SPT.
- You earn this by posting and earning 1/2 of the rewards for all the upvotes. (The other 1/2 is shared between the voters themselves.)
- There are other tokens (miners) that will pay out in tokens if you hold and stake them.
Are you seeing where I am going with this?
Grow your wealth on the blockchain by staking miners.
Here's a simple method to increase your blockchain holdings:
- Play some Splinterlands then write a post on splintertalk.com about the game, your matches, selling\renting\buying cards, etc.
- Add some relevant tags to your content. #splinterlands, #spt, etc.
- One week after posting you'll be paid the rewards for the upvotes you received in SPT and the other tokens that "back" those tags.
Note: With regards to using tags, don't spam.
If you're writing about the financial side of the game, include #leofinance to get that token from others who hold LEO and upvote you. Same applies for other general tokens: PoB, Archon, Neoxian, etc. Don't tag spam, keep it relevant.
If you want a good summary of tags and which one you can use for what, check out this post:
OK, That's the ACTIVE part. Here's the passive part.
- Take the earnings from actively posting, and sell them on Hive-Engine.
- With the new Hive you just received from selling 2nd layer tribe tokens, purchase MINING tokens AND stake them.
- Earn income from the staked miners. BOOM.
Owning them is one thing. Staking the miner token is usually required for getting rewards. These are tokens that pay out in other tokens if you stake the mining token. E.g.: STEMM pays STEM, LEOM pays LEO, etc.
Buy PASSIVE income miners with ACTIVE income from posts!
This works. Best of all, since the miners pay out in other tokens, often you can then stake the tokens you receive as payment, and increase your token power for upvoting purposes, so your ACTIVE income becomes that much more powerful.
You can also take the earnings from the miners, save up enough of the rewards, exchange them for Hive and then buy even more miners. :) I've been known to do that myself.
A great tool to help you see how miners will eventually pay themselves off is: https://hiveengine.usehive.com/
You can use that to see a list of miners as well. Enter your username and token and you'll see how much you've mined, the median and mean of the number mined, as well as the date of estimated break-even on cost. Excellent!
Do YOU turn your ACTIVITY into PASSIVE income? Share below!
I regularly buy miners, and it has significantly increased my daily payout of tokens.
For those of you who play #splinterlands, this is a great way to have a continuous stream of DEC: buy miners, stake them, sell the mining rewards for DEC, and import the DEC into SplinterLands.
Then you can earn even more additional income from the DEC increase applying to the amount of airdrop SPS you get. :) It's a win-win.
Let me know how you earn passively on the blockchain.
Peace and Love,