Steem Basic Income

Steem Basic Income is a social experiment to bring a basic income to as many Steemians as possible. Members join by sponsoring others into the program. Steem Basic Income is delivered through providing regular upvotes to member content.

Still Going Strong

We are up to six pools, so your upvotes could come from @steembasicincome, @sbi2, @sbi3, @sbi4, @sbi5, or @sbi6. We currently have 1648 members that have posted within the last 28 days, and many more members that have not. Unfortunately the members that are not posting are not receiving upvotes. There are currently 7518 'shares' in the program, and it grows every day.

Pool 1 accounts voted

There has been a spike in inactivity in the last few weeks. Managing voting power around inactive members is an ongoing challenge. The portion of inactive members has grown to 30%. Some of these actively comment, but not post, so they will start receiving upvotes when we finish our automation project.

We try to redistribute the excess voting power that should go to the inactive members to active members, so that it is not wasted. If voting power gets close to 100%, we do extra self-votes on comments, but we prefer to reallocate to the active members as much as possible. With so many inactive members, we have only been able to upvote 375 of the members in pool 1!

img source: http://www.steemreports.com/outgoing-votes-info/?account=steembasicincome&days=7

Last week we had a 21.1% self-vote, which is much higher than we would like. Over Easter weekend, there was a big drop-off in the number of accounts posting, relative to a normal weekend. It's been a very difficult week since then. We try to keep voting power from being wasted, and the growth of the program makes it difficult to respond quickly to changes in member posting frequency. Thankfully, automation will resolve those issues and allow us to be less dependent on self-voting as a release valve.

Pool 2 accounts voted

Pool 2 upvotes come from @sbi2!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi2&days=7

Pool 2 peaked at 45% of the members in it being inactive, as we were not moving them down to pool 3 until 60 days of inactivity. I have been shifting that down from 60 to rebalance the inactive members more evenly across each pool. Ideally, we will work toward a cap of 30% inactives in each pool, with any excess collecting at the bottom. This will be good for the active members because it will make it easier to focus our voting power on members, even while full automation is not yet ready.

Pool 3 accounts voted

Pool 3 upvotes come from @sbi3!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi3&days=7

Since lower pools have lower average shares per member, inactive members have a higher percentage of total shares in the pool, and it becomes even more difficult to manage voting power effectively. This results in gradually rising self-vote as we move down through the pools. Rebalancing to keep each pool at 30% inactives should help here.

Pool 4 accounts voted

{ool 4 upvotes come from @sbi4!)

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi4&days=7

Enough said about inactives. I moved the total weight distributed each week back to 8000% so that we can reduce self-voting even further, but it will take some time for all the rules to be updated. Hopefully by the next time we publish these charts, they will be in a status that I'm much more comfortable with.

Pool 5 accounts voted

Pool 5 upvotes come from @sbi5!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi5&days=7
We really start to see @dynamicrypto and @dynamicgreentk in action as we get down to pool 5. Each member is capped at 100 shares per pool, so these guys try to reach that cap every time a new pool is launched. They haven't invaded pool 6 yet (just launched this week), but I'm sure that's only a matter of time! As members with more shares move up into higher pools, it makes them the only large members in the lower pools, and that shows up in the charts.

Pool 6 accounts voted

Pool 6 upvotes come from @sbi6!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi6&days=7

We launched pool 6 this week to give a place for members that post so frequently that even pool 5 would have them paused. It's a little bit broken right now, as the main admin for @steemvoter is on vacation. We registered the pool for a month of premium, but it hasn't been processed yet. Some of the outgoing votes are being missed because it has more rules than our status allows without the premium registration, and that means we have to do more self-votes to keep the voting power from being wasted.

Once full automation is in place, we will no longer be dependent on @steemvoter services. We can have it skip posts that would have an upvote that is too low to commit to the blockchain, and save the voting power for their next post. So really active members wouldn't have upvotes on every post anymore, but they would still have the same weekly returns, without having to sequester them in their own pool.

That will also mean that we won't have to open new pools until the bottom pool starts actually getting full! That's going to be a positive development as well.

Conclusion

I realize that the high self-voting percentages are going to be seen as a concern for some members. Technically, every active member is still receiving the voting weight that they have subscribed to, they just aren't getting as much extra voting weight from inactive members as I would like to give them. I am working actively to improve this in light of rising inactivity rates. Please be patient with me, as manually rebalancing voting weights is extremely time intensive. Full automation will resolve most of these issues, and it looms on the horizon!

This update was posted to @josephsavage's page yesterday, by mistake. We have updated the charts for this version, and some of the wording and analysis has been edited. If you really want to see how one day changes things, check out that post, too. https://steemit.com/basicincome/@josephsavage/steem-basic-income-weekly-voting-distribution

Enrollment

If this sounds interesting and you want to get involved, or to increase the share of basic income that you receive, enrollment is pretty straightforward:

Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 share in the program. You can sponsor any active Steemian, it does not have to be a current member.

If you're unclear, please check out our full transaction memo guidelines and then let us know if you have any questions.
https://steemit.com/basicincome/@steembasicincome/steem-basic-income-new-transaction-memo-guidelines

The official currency for enrollment is STEEM. We accept SBD at our discretion (usually when they're very close, or when SBD is stronger) but you do not receive extra value or any partial refund for paying in SBD instead of STEEM. If we choose to accept an SBD enrollment, we accept the entire amount. If we choose to reject it, we refund the entire amount and request you to send STEEM instead.

Steem Creators Conference

We are pleased to have been invited to the Steem Creators Conference in Las Vegas next week. Learn all about it at https://www.steemcreators.com/ Mark your calendars and book your tickets, this is going to be an awesome event! (Look for our name on the registration page to get a $25 discount on your tickets.)

Questions?

We broke down the mechanics for how the program works in the complete overview. You can check your share counts and upvoting weight in our spreadsheet explained here. If you have any questions, ask away in the comments section or join us in our discord channel.