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I think it is today possible for someone who has activitely been here since the first times of HIVE (Steemit back then) to live off HIVE. My plan is to meet some of my expenditures by HIVE as well, it is early though :)
I'm not an everyday creator, and I accumulated a nice amount of HP... If I were to live in Venezuela, or some other countries that have lower life expenses, I would probably be able to live from my HIVE income...
Checking some other ORCAs, who are better creators than I, it is possible to do what you said!