Great. More Dreaming.
A little over five weeks ago, I posted about needing STEEM to be just shy of $176 USD in order to have my stake at that time
be worth $1 million.
Well, I'm happy to report that now it only needs to be a little under $165 USD.
I set up a spreadsheet to look at more price points, mostly for fun, but also perhaps to answer a question that gets floated around here and there: how much stake do you need, and how high would STEEM have to be, in order to live off of it?
If you take a look at the image, down in the bottom part of it, you will see several USD amounts, from where it is more or less now, at 28¢, to the point where dreams are found—though in my mind, still not out of the range of actual possibilities—at $500.
The next column represents my current stake. The third, what the value would be in USD when STEEM hits those different amounts. Column four is what the dollar amount each total value would be in a power down situation, while the last column is the same but in STEEM.
To answer the question about at what point one can properly live off of STEEM, I decided I would need to know how much of my stake I would have to power down to get there. I don't want to power down a whole lot, you see. I want to keep most of it there, so I can replenish what I take out and still grow it.
So, take a look at the different price points, and you'll see what one week out of the thirteen required to power it all down will cost you. Then, take a look at your expenses. In my opinion, I'm probably not living off of the STEEM I have now unless it magically hits somewhere close to $100 USD (and actually stays there), which means the earliest point might be around $80 USD. That amount doesn't allow me to do a whole lot, though, but more or less gets me to my current needs. Which means it would need to be higher than that for me to be able to do much more than meet my bottom line obligations.
Your situation will probably differ. A lower cost of living will get you to the goal of maintaining with STEEM quicker than a higher one will. For some, that might actually mean looking at a move to somewhere cheaper. Or maybe it just means you continue to build your stake and wait out the bear market, which is pretty much where I'm at.
Now, of course, these amounts are approximate, because they don't include whatever fees there may be to convert STEEM to fiat, or what taxes you may incur, so those need to be factored in, too. Fees, hopefully, will be somewhat reasonable. Taxes, probably not (especially if you think like me that by and large, taxation in and of itself is unreasonable).
Anyway, I hope you find this basic look at values interesting, and it can help you see what STEEM might need to be if you were wondering but hadn't gotten around to figuring it out.