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RE: Steem Basic Income is on Discord!
It sounds like you have an idealized idea of what a basic income has to be. What we're doing is an experiment to see if we can move toward a basic income using the power of the blockchain. Since we don't have outside funding or powers of taxation, we are working with what we have.
The share structure is designed so that members have material incentive to support the program in ways that move it toward sustainability. Over time that will give us the ability to gradually equalize the basic income delivered to each member.
I understand. Like in the beginning through higher shares there is a bigger "pay out" through basic income votes and over time once the share fees are "payed back" the basic income equalizes and everybody wins? Is it a bit like that?
Yes, it's a bit like that.
The math is incredibly precise as far as the transformation of shares to upvote weight, but... we deliberately use rounding in some steps, which smooths out the differences and equalizes the income over time. So increasing from 1 share to 2 share will increase your income, but not by a full 2x.
Also, the requirement to sponsor brings in people that might not otherwise be able to get shares (and encourages people to do contests to give away shares, as they can sponsor the winners and also benefit). And when somebody joins without sponsoring, we assign the 2nd share to somebody that only has one (which pulls up the members with fewer shares and also gradually equalizes over time).
Sounds like a good plan @steembasicincome! Happy to aboard.