The concept of making money online is something I've been fascinated with since the inception of the Internet. It's a question I've been asking for at least 20 years. Turns out it's actually pretty hard to make money online unless you're a builder. Either you have to learn to code or hire people to code in order to bring about the greater vision. For the most part we see the same thing in crypto as well: where the users earn very little (if anything) while the builders can pump out scams left and right anonymously and rugpull to their heart's desire during the bull markets.
It's been a while since I've asked the Interwebs how to make money.
So yesterday I figured I'd give it a shot and ask chatGPT AI.
- Freelancing
- Online surveys
- Affiliate Marketing
- Online Tutoring
- Content Creation
- Dropshipping/Flipping/Online-store
- Blogging
Reading this list I was kind of shocked...
To realize that making money online basically hasn't evolved at all in the last 10 years is a pretty shocking revelation. I can and did get this exact same advice looking up how to make money online over a decade ago. How crazy is that? Why is it so difficult to make money from home using an Internet connection?
Could this be a demographics issue?
For example, a very large percentage of businesses are owned and operated by Boomers and Gen X generations. Could it be we are simply being held back because the people making decisions at the top are incompetent when it comes to incorporating new technology? Is this simply a lack of innovation or apathy problem?
Overhead cost
If it's not broken, why fix it?
Many companies are not going to needlessly pivot their business models and take unnecessary risks given the off chance they might get a little bit of money by providing work online. For the most part employers don't trust their employees to be responsible adults anyway (and for good reason). Allowing workers to work remotely greatly increases the chance of their productivity going down. Even if this isn't true, simply the fact that older demographics believe it to be true makes it true for the time being. Perception is reality.
COVID
The pandemic was a great example of companies being forced to pivot into the position of allowing money to be made remotely via leveraging our Internet connectivity. After all, this is a matter of public safety on top of profit margins. A business can't make any money if they get shut down by the government. Remote work has thrived over the last 3 years, as can measured by how many times we've seen people in a business suit and sweatpants.
Freelancing
I've looked into it and it seems like the vast majority of the time freelancers get paid way less than people who simply get hired by an employer. It's an extremely over-competitive and undercut gig that requires way too much experience given the tasks to be completed.
Certainly there are exceptions but the statistical fact of the matter is that it's not worth it unless you end up leveraging this position into moving to a place that has dirt-cheap cost-of-living expenses. And even then not really.
Online surveys
I've tried this one before... have you? It obviously pays very little because our opinions are worth very little, and they have to pay us even less than that because that's the definition of their business model.
Affiliate Marketing
I thought about attempting this one a few times with online poker sites way back in the day before the regulators stomped on them. Figured if I could sign a bunch of people up I'd be making royalties on top of sign-up bonuses. Yeah it's way harder that it sounds and once again the company you're marketing for is guaranteed to make a bunch of money off of you for the advertising.
There are situations where if you can find a niche affiliate marketing can be extremely worth it, but more often than not it can end up just like MLM pyramid schemes: you sign up your friends and family and a handful of others and then you run out of people to sign up. Meanwhile the main corporation is laughing all the way to the bank.
Online Tutoring
I'm more likely to pay for tutoring than I am to be the teacher.
Never tried this but it's probably better than most options.
Tutoring isn't cheap.
Online Store
I know a guy who does this professionally and he makes quite a bit. He buys product from garage sales and where ever else and flips items at a huge profit. He actually bought my car before I moved to PA from CA using profit he made from a new VHS tape of the movie Jaws. Unbelievable.
This business is called YoungGames / Retrodealio and his focus is on retro video game flips. Although he does make quite a bit on random EBAY flips as well (like the Jaws VHS). One of his biggest scores recently was the original first copy of a Ninja Turtles game. I believe it was Turtles In Time. First print Japanese version. Resold for 5-figures. People are nuts.
The recession has not been kind to my friend, but he's still killing it. I have him very excited about crypto as well even though we both got a bit wrecked in 2022. Long story short: Building an online store can be extremely profitable but you have to put a lot of work into it and find a very solid niche.
Content Creator
Everyone on Hive knows all about this one. We're all content creators here, are we not? To some degree or another. This is what prompted me to write this post in the first place. Looking at this woefully outdated list of ways to make money online... I can clearly see that Hive is at the ground floor of something truly special.
Show me a better way to make money online than Hive. I'll wait here. There really isn't one. Anything better than Hive requires years of blood, sweat, and tears to amount to anything, and that if you're both lucky and talented to boot.
Some people are told they should write their blog for a year without expecting a single penny of profit, while I've seen introduction posts on Hive pay out significant sums of money. Hive is unmatched across the entire internet, and still goes largely ignored somehow. It is a truly mindblowing scenario to be in. Keep stacking.
Conclusion
The ability to earn online hasn't evolved at all in the last ten years. We get the same answers today as we did a decade ago. We can either consider this a disappointment... or an opportunity to be the first crypto asset in the world to provide a truly decentralized job market to those looking to escape the rat race of the corporate economy.
The higher our token price goes, the easier it will be to provide jobs to the public. The goal here is for 'employees' of Hive to be paid less than the value they provide to the network as a whole. This is the standard business model across all scalable platforms. The difference is that rather than a centralized entity gobbling up all the profits that money goes straight into the pockets of Hive stakeholders. We'll figure it out eventually. Don't be caught off guard when it happens.
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