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RE: Steem Basic Income is on Discord!
Dear @steembasicincome. I have had a discussion with an other member on steemit who said, that your idea here is interesting, but it has a destructive side to it. He was pointing out to me, that you lease SP to be able to provide the upvotes to all the members and that way you are draining your own savings into the hands of the steemit members who borrow the SP, mainly big wales. I was wondering how this system could work whithout giving away our own capital?
When we started out, we were leasing delegation to target a higher SP per share. We have moved to a more sustainable model. We still lease some delegation to target a specific level of voting power per share, but we have put incentives in place to encourage members to upvote and delegate. Now our dependence on delegation is significantly reduced. As long as we are above our target effective SP per share, we are not leasing any more delegation.
Thank you for your answer dear @steembasicincome. As there is no "income" for this basic income, it is very difficult to give without receiving, right? The leasing is necessary as a replacement for that income or powerful delegations, is that right?
Yes, that's right. The leasing is necessary to maintain a certain level. As it happens, the adjustments in the last couple of weeks have made the leasing much less necessary and it's been several days since we've submitted any new orders. We hope to continue without having to lease more, but we will keep a close eye on our effective SP per share and decide accordingly.