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Can steemit be a major source of livelihood?
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Yes you can when using it as a marketing platform for your own business, or when you do affiliate marketing. Just like twitter, facebook, reddit, ... can be major sources of income. You can do this fulltime easily but only if you are skilled in internet marketing. Most people don't have the knowledge to pull it off. If you would you shouldn't be asking this question. It's pretty much free to advertise here, that makes steemit a great platform for doing business.

You could also do bounty hunting: https://steemit.com/earnmoney/@niel96/earn-cryptocurrency-from-home-by-doing-tasks-on-bounty0x

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I doubt the reality of that.

If this question was asked around this time last year, I would have said YES.

Because with the usage of different Dapps and with the amount of work I put into Steemit now, if it was around the same price last year, I probably wouldn't have to start my 9-5 job anymore.

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Not now! Not soon.. Unless you are a whale living in a country where their currency is less valuable that USD..

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Used to.

Not anymore (except you run a business or have whales backing you)

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Steemit can be a source of livelihood for those who have a really big amount of Steem power who are called as whales in the platform.

Also if those whales are living in a country where a dollar is a big amount already. The lifestyle and cost of living also matters or factors in answering this question.

When Steem has a better value/price last time, a lot have probably made Steemit as their major source of income.

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Sure Steemit can be a major source of livelihood provided you know how it works. Albert Einstein once said "learn how to play the game better than anyone so that you can be the best game player". This simply means if you want to be good at anything, you have to learn first and this applies to Steemit also.

Some people who quit Steemit today don't really understand how it works because they never knew it is about consistency. I know of some people who are making livelihood out of Steemit such that they are always consistent with the platform and this is really adding more to their income on Steemit.

An important factor to consider is the nature of cryptos. We all know the erratic nature of cryptos as they may rise and fall depending on BTC and their market cap. This means you must always be ready for bullish and bearish market as this will give you some reasoning techniques to help you know when to hold and when to trade.

There are other things you can do to earn more rewards on Steemit which is listed below ;

1) GUEST WRITER: Some great whales or Steemians may be in need of a very good writer who can help them write good content with high quality. You can act as a guest writer for them and earn your rewards in Steem.

2) USING DAPPS: Making use of dApps on Steemit is one of the best ways to earn more payout on your posts because there are actually some dApps that will automatically upvote you for using their services such as @esteemapp, #busy, @musing , #tasteem, #ULOGS, dtube and many others.

3) USING STEEMGIGS: Steemgigs is a freelancing platform on Steemit which is developed by @Suepassingoogle just like we have fiverr, upwork and many other freelancing websites. You will surely earn your rewards in steem after providing your services to the client.

4) ADVERTISING: Steemit is one of the best platforms to advertise your business, product or brand as it contains lots of users roughly estimated to 1 million plus . This explains why most business tycoons and developers always engage in Steemit because they can advertise their businesses on Steemit.

You can also earn more money just by helping people advertise their products or business on Steemit and you get paid by them in addition to your post payout.

5) AFFILIATE MARKETING: I won't say much about this because it is similar to point number 4. You can be an affiliate marketer and advertise the product on your Steemit blog to earn more money.

6) BLOCKCHAIN PROMOTER: You can earn cool cash if you are passionate about blockchain and Crypto. You can get paid just for promoting blockchain on steemit. I suggest you follow @crypto.piotr for more update.

7) CURATING: Are you surprised about this? Well that's the fact. There are some platform or groups on Steemit that rewards you for curating other people's posts. You just have to find them but make sure you are knowledgeable when it comes to curating.

Thanks for reading and I hope this helps.

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The answer for most people is most likely no.

The reason is, STEEM, while offering social media dApps to create content with, is first and foremost an investment platform. As such, most of us won't earn enough in rewards to live off, though many are trying, some are doing it successfully, and other have sought other forms of gainful employment because of the bear market.

In other words, the platform is designed for the long term, not so much short term gains, though, again, there are those who are living off of what they earn, or attempting to do it.

The main ways to accomplish this would be:

—Live very cheap. Partly, this has to do with where one lives, because housing, utilities, food, etc., are higher to acquire in some places and much lower than others. Anyone living in the U.S., for example, would probably need to be homesteading or otherwise living off the land while using STEEM for things that cannot be bartered or traded for.

—Have tons of SP, or know users who do. It's tough to earn enough STEEM Power (SP) through curation as a lower tier stake holder. Even those in the hundreds of thousands (orcas, small whales), are going to need to hustle, or rent out delegation to others who are hustling (ultimately either might just use an autovote service). Even so, we're probably talking in the neighborhood of a couple million SP, just to be sure.

Someone with a decent amount of SP, who is able to power down a week's worth of it and then live a couple of months on it, could be able to do this. They would need to be able to replenish their SP in the interim. All others, especially now, are hoping for a significant return on their investments sometime in the future.

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No. It's never a smart thing at the moment to bank daily necessities on crypto. The performance of this coin has dramatically dropped over the course of months. It will rise at some point maybe but there is always no constancy guaranteed.  Best to try investing your money and time on some other secure livelihood. 

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