Steem Basic Income - A Complete Overview

in basicincome •  11 months ago

Don't we all want to change the world? An extended introduction post (adjusted to keep information current with how it works now):

Steem Basic Income - Complete Overview

I have been very interested in the social experiments around Universal Basic Income.

img source pixabay
As I review the literature on Universal Basic Income, there are two basic questions that always come to mind.

What will pay for it?

How will the money be distributed?

I don't know what the final answers will be for basic income to happen at a societal or universal level, but is there any reason something like Steem couldn't be part of the answer?

The purpose of this project is to provide every Steemian with a basic income.

Enrollment

Sounds intriguing... How do I sign up?

Send 1 STEEM to @steembasicincome. Include the name of who you want to sponsor in the comments. You and the person you sponsor will each receive shares in the program.

Okay, so I signed up. Now what?

You and the person you sponsored will be added to the pool. Each member of the program will receive their Steem Basic Income through post upvotes. The total weekly vote strength available will be divided by the number of shares to determine the vote weight each share receives. Each member's weekly upvote weight will then be distributed to each of their posts, at a rate determined by their personal posting frequency.

A Waterfall of Sustainability

Imagine a beautiful stream of water running down a mountainside. It finds a hollow and fills it up, creating a pool. When that pool is filled, the water runs over the side and continues down the mountain. Maybe the path leads to a drop-off, and water sprays over the side, pouring down as a cascade, a waterfall. At its base, the waterfall carves out another pool and fills it with water, then continues to flow downhill. Maybe there are many pools, each filled with a rush of water from the pool before it, as the stream continues down the mountain, enriching the lives of all who see it and providing for those in the valley below.


img source pixabay

Imagine @steembasicincome as a pool of SP, spraying out basic income to all the members. The size and shape of the pool limit it to 400 members, but that doesn't limit @steembasicincome to 400. The SP bubbles over and starts to fill a second pool. New members come into the second pool (and occasionally promote to the first pool as spots become available).

Hyperactive Members

Each member's total voting weight is based on the shares that they own, but distributed across their weekly posts. This ensures that weekly income delivered to each share is consistent for all members, without putting pressure on members to create content every day. Since some members are quite prolific, their voting weight for each post has drops below 0.50%.

When this happens, these members as automatically moved down to a lower pool so they can still receive upvotes. When their voting weight increases, either through less frequent posting, more shares, or bonus voting weight from upvoting @steembasicincome, they will be testing for advancement into a higher pool again, so long as the higher pool has spots available.

Growing your Steem Basic Income

These seem like small upvotes. Can I increase it?

There are several ways to increase your Steem Basic Income:

Upvoting Bonus

Upvote @steembasicinome regularly to increase the basic income that you receive
We regularly review the upvotes that @steembasicincome receives, over a 28 day period. The members that upvote the most consistently receive an increase in their voting weight. The curve is set at 28 upvotes (one upvote per day). With 28 full upvotes, voting weight will be increased by 100% (equivalent to having 2 shares for each share you actually have). This is adjusted by your upvote weight. If your average upvote were 90% instead, your basic income would only be increased by 90%. Another member with 21 full upvotes would receive a 75% increase (21/28 = 75%), but if that member gave 90% upvotes, their voting weight would only increase 67.5% (21/28 * .9 = 67.5%).

The maximum boost provided to any member is 100%. To get the best benefit, we recommend using steemvoter or something similar to not miss any update posts.

Sponsor more members into the pool.

Every time you sponsor a member, you will each receive 1 share. By sponsoring more members you can receive more shares. You can sponsor as many people as you like, or sponsor one person multiple times.

Delegation Bonus Shares

Existing members can receive bonus shares from delegation. For every 10 SP delegated to @steembasicincome, members will receive 1 bonus share. These bonus shares will be removed if the delegation is withdrawn. Currently each share receives a weekly voting weight of roughly 5.61%.

To simplify the tracking, all members should delegate to @steembasicincome. If the delegating member is not in pool 1, their delegation to @steembasicincome will be added to the delegation sent by @steembasicincome to the pool they are actually in.

These bonus shares will be counted before the bonus shares from upvoting @steembasicincome. So if you have 1 share, received 4 bonus shares from delegation of 100 SP, and then upvoted @steembasicincome regularly, you could potentially receive upvote weight equivalent to 10 shares instead of only 1!

Any Steemian that is already enrolled in @steembasicincome can delegate as much as they would like, to receive bonus shares. If you are not already a member but would like to delegate, please send an enrollment transaction to @steembasicincome and we will add your bonus shares at the time we process your enrollment.

We appreciate the members that take us up on this, and will provide updates highlighting our member-provided delegation, so that you will know who to thank.

Here are some Handy Delegation links:

100200300400500

Troubleshooting

I didn't get my income today. What happened?

You have to post to receive your income. We are also developing functionality to reward comments, but this might not be working yet. Some content may be blocked from receiving support. Please make sure that your post or comment is somewhere work appropriate. There could also be some issue with the bot. Please message @steembasicincome or @josephsavage for assistance.

Help! My reputation is under attack! Will that affect my income? @steembasicincome periodically reviews reputation of existing members. If your reputation suffers a sudden drop, we will review the underlying reason. You could be greylisted and not receive your basic income again for a while.

What if I don't usually post every day?
We would prefer to reward quality content. Since there needs to be something for us to upvote, you need to at least post sometimes. We regularly review posting frequency, and adjust the upvote weights for members accordingly.

Help! I was removed by @josephsavage and he refused to reinstate me!

If a user disagrees with an administrative decision to impose a temporary or permanent removal, there will be an appeal process. The offending user can choose a member from the recipient list (published periodically) and @josephsavage will choose 1 member. Those members will review the elements of the case and decide whether the removal should be reversed. (Appointed members may decline appointment). If they are unable to reach a consensus decision, they may each appoint 2 more members (total of 6), and the case can be decided by majority. If they are still unable to agree, the original ruling from @josephsavage is upheld by default.

This process may be revised, but any revision must be approved by a majority of voting members. A voting post would be published with the new proposed rules and a yes or no comment. The comment with the most member votes (not highest reward) will determine the outcome.

All rules are subject to change until there are members that have paid to sponsor and join. (At launch all members were sponsored and selected by @josephsavage). At that point, changes would need approved through the voting post process. Dissenting members that have sponsored others into the program will be fully or partially refunded if the total Basic Income they have received does not exceed 200% of their initial registration cost (1 Steem per share acquired through sponsoring another member). Sponsored shares (registration fee was paid by somebody else) are not eligible for refund for any reason.


Let's talk math

With the initial investments from @josephsavage, the program started out with 189 SP in voting power, and only 18 shares. That's over 18 SP per share, but it only cost 1 STEEM to add 2 shares. From the start, we knew that adding new members would dilute the existing members. The SP per share will approach the cost per share. (Essentially each member pays in advance for the upvotes they and the person they sponsor will receive.)

Effectively, this is the opposite of a ponzi scheme, as new members are benefitted by the investment already made by existing members, instead of existing members benefitting from the addition of new members. With this math, the incentive to sponsor members is to keep adding new shares for yourself (and provide basic support to other Steemians). (Dark Blue Line in the chart below)

Initially, we offset this disequilibrium by spending the STEEM from registration fees on 90-day delegation leasing. 1 STEEM buys 9 SP of delegation. This results in a higher equilibrium... predictably around 4.5 SP per share, as 1 STEEM buys 2 shares. Curation rewards from upvoting members posts are factored into this, and don't have a material impact on per share SP in the short term. (Orange line)

Since 4.5 SP per share confers a daily vote worth roughly 0.02 SP, it would allow each new member to at least recoup their initial spend before the delegation starts to expire.

After delegation starts to expire, there would still be a disequilibrium as delegation expires and SP/share would start to drop again. We called this growth dilution, and it's a very tricky problem. Creating a series of pools, where SP waterfalls from the first pool into each successive gives us a long-term solution to that problem.

The Waterfall Math

SP will start in @steembasicincome. As shares are assigned to the second pool (@sbi2), @steembasicincome will delegate to a target rate of 2 SP per share. In addition 25% of @steembasicincome's permanent (non-delegated) SP will be delegated to the second pool. As the SP grows for @steembasicincome, the SP will grow for @sbi2.

As new members come into pool 2, the enrollment fees will still be paid to @steembasicincome, but it will delegate new SP to pool 2, targeting 2 SP voting power per member, plus 25% of the permanent SP in pool 1. This keeps the growth dilution in pool 2 from bringing effective SP per share below 2 SP. That results in a slower investment recovery period, but provides the benefit of stable sustainability.
Effective SP per share will also be continually tested in pool 1 (@steembasicincome), to ensure that the delegation to @sbi2 does not lead to excessive growth dilution in @steembasicincome. @steembasicincome will continue to lease enough delegation to prevent effective SP from dropping below the new target levels - at least 0.50 effective SP more than @sbi2.
Any excess STEEM not needed for leasing delegation will be used for fixed-rate vote buying to maximize the permanent SP growth of the pools. (We have a great agreement with @earthnation-bot to receive a 5x return on fixed-rate vote buying, and they receive 1 bonus share for every 3 uses. We also use services that return 2-3x amount spent. We do not use bidding bots.)

These lower target levels allow the effective SP to settle to a more sustainable level that will keep growing from member upvotes and delegation, instead of relying on a continual cycle of leased delegation renewal. When pool 2 is starts to fill, it will spill over into pool 3, which will receive delegation from pool 1, targeting 2 SP voting power per share in pool 3, plus delegation from pool 2 representing 25% of its permanent SP. And so on . . . until every Steemian is swimming in Steem Basic Income!

Sustainability Incentives

We have known since before launch that there would be potential issues after the 90-day mark. We are clear about the income being small, and identified four ways of overcoming that:

  • Upvote comments and posts from @steembasicincome to power up the votes.
  • Sponsor more members into the pool. Every time you sponsor a member, you will each receive 1 share. By sponsoring more members you can receive more shares.
  • Delegate SP to @steembasicincome. This increases the income for everyone. Thank you!
  • Buy Steem. As Steem goes up, the value of your basic income increases.

The new Waterfall of Sustainability, with incentives for upvoting and providing delegation, has created a new dynamic that allows the permanent SP grow enough that we remove our dependence on leased delegation.

Since the limit of members can't actually reach infinity, the disequilibrium point only needs postponed until the rate of new enrollment drops below the growth from author and curation rewards. At that point, there will be a steady rise in the basic income that each member receives. The incentives provided to encourage member support through upvoting and delegation are currently allowing us to keep our effective SP per share above the target levels without new delegation leases. The longer we can go without having to lease new delegation, the more confident we can be that we have reached a sustainable equilibrium!

TLDR

So basically this is a vote buying club? You pay upfront and agree to upvote posts which generates revenue for everyone in the club that will be shared by receiving upvotes on your posts?

This is an actual question I received. And here is my actual response:

You're essentially correct, but there are some differentiating features.

First, in order to get shares for yourself, you have to sponsor shares for somebody else. This creates a more diverse membership and encourages supporting people that might not have the liquid funds to join voting clubs.
Second, upvoting the posts made by the @steembasicincome account is not required, whereas for most voting clubs there is some requirement in that regard.
Finally, the upvotes are individually weighted for each member, based on typical weekly posting behavior, so it doesn't pressure members to publish when they wouldn't otherwise, just for their daily upvote.

If your philosophy is that individual posts should be rewarded, rather than individual members, than you are free to disagree and not participate.

Math often causes ventures to fall short of reality. We would love to provide a steadily rising basic income for everyone, but the money has to come from somewhere (just like with a universal basic income). In this case, the money has to come from people choosing to support it by sponsoring fellow Steemians and by upvoting it to grant it a greater share of the reward pool.

What if I hate this?

If you completely disagree with what we are doing, please feel free to move on. If you were sponsored by somebody else, and want nothing to do with it... please let us know, and your share will be deleted. Since you paid nothing, you won't get a refund, but we will grey-list you and allow future potential sponsors to choose somebody else instead.

This is the math-filled extended introduction, and we hope that you have stayed with us! If you read this whole article and are happy you joined (or were sponsored)... welcome to the party!! This complete overview is !originalworks from @steembasicincome, written by @josephsavage, but utilizing sections from previous updates.

As always, please let us know if you have any questions!

Authors get paid when people like you upvote their post.
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@dkid14 Im going to do this for us.....

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We will let you know when your enrollments have been completed.

Congrats, you made the #steemitminute for today!

Click the Image Below to see the Video!

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Thanks for the shout-out!

Hi,
Can you have more then one sponsor?
How much per post does one share provide you?
Thanks

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It depends on STEEM/SBD pricing, but one share provides roughly 0.06 to 0.08 per week. How much that is per post depends on your posting frequency, since your weekly upvote weight is distributed based on your posting frequency.

You can have more than one sponsor, and you can sponsor as many people as you would like.

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Thank you. So one share provides 0.06 which is divided between all your posts for a week?

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Your weekly upvote weight is divided by your posting frequency to determine the upvote weight granted to each post.

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Okay, does your upvote weight for one share equal 0.06?

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It varies depending on STEEM/SBD market prices, but currently each share get's a weekly upvote value of roughly 0.04 UI value, which is a little more than $0.06 USD.

@mrprofessor I chucked you in the pool .. did you see? Not sure if it worked 💙💙💙

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You have so many levels of awesomeness that I can't even describe, I owe you a lot my friend!
I've been trying to understand how this works, and I kinda get lost everytime =s I may need some help hahahaha

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I dont get it either but it sounds good... 💙💙

He he I i know im awesome... but so are you.
Snap!

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o/\o highfive.

hi @steembasicincome , i send 3 steem with 3 sponsorship to you. My sponsors are getting upvotes from sbi5 but in my case , i receive an upvote but the only 1% from sbi4 and it is a sponsor from @yanzie.

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All of your shares are grouped together in a single pool, and you were moved up into pool 4. Upvotes from sbi4 are more valuable than upvotes from sbi5 (of similar weight) because it has more steem power. I do have you at 4 shares, and I show that your upvote weight is correct for your posting frequency.

Do I sponsor by sending 1 stm and putting there name in memo or comments

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Send one steem with the @name in the memo

good day, I'm from Venezuela, a few days ago they bought some shares for me @charitybot, I'm very grateful for that. Reviewing your published spreadsheet
I am on the TxIn tab, I would like to know:

  • What does TxIn mean? I'm already registered?
  • I also want to know if I have to use a specific tag to receive my votes?
  • The publications you make must be in English to receive the vote or they can be in Spanish.?
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TxIn means that it's in the record of transactions we have received. That does not mean your registration has been completed. You will receive a welcome transaction in your wallet once your registration is completed if you are not previously a member.
You do not have to use any specific tag, and we prefer that members only use the #steembasicincome tag for contests with SBI prizes or for posts about @steembasicincome or Universal Basic Income.
You can publish in Spanish or English - whichever is more comfortable for you.

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Thank you very much for the information.

Hi, I sent a 1.0 STM sponsorship a few days ago, but haven't seen anything from Steembasicincome in either of our posts. And don't know how to message you... steem-chat? Discord? Thanks!

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This is our pool 4 account:

I think I have a sponsorship but I still don't know how to complete my registration, please help me.

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You are registered for 1 share and will receive your upvotes from @sbi5. You don't have to do anything to complete your registration, but we do recommend upvoting our updates to get bonus income on your shares.

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Great. Thank you very much

I think i want in but i dont get it but i want to understand it. Hi.

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It's okay if you don't understand all the details. Here is an explanation from one of our members that explains it in a more approachable way:

https://steemit.com/steembasicincome/@thedarkhorse/drip-drip-drip-leaky-sink-no-it-s-lifetime-income-steem-basic-income-review

Please let me know if you still have any questions.

Thank you for the detailed explanation of how this works. I just joined by sponsoring two of my fellow Steemians on here. I think this is an awesome idea for a platform and really unique. I made sure to add you on SteemAuto to support, and I will delegate SP to @steembasicincome as soon as I can.

I have a couple questions though:

  • Do we receive any confirmation once we have been accepted?
  • Will I get upvotes on my post I wrote today if my registration was also sent today?
  • How do I know which pool I am in?
  • Should we be using #steembasicincome as a tag/topic, or is there no additional benefit?
  • If I delegate, do I delegate to a pool, or to the main @steembasicincome account?

Thanks in advance for taking the time to answer these questions. I want to write an article about your platform soon.

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Q. Do we receive any confirmation once we have been accepted?

A. You will get a confirmation message when you are first enrolled after this you wont recieve anymore.

Q. Will I get upvotes on my post I wrote today if my registration was also sent today?

A. You will only recieve upvotes once your shares are registered. However these upvotes are for life. Just remember to post at least once a week.

Q. How do I know which pool I am in?

A. Check out this spread sheet. https://docs.google.com/spreadsheets/d/e/2PACX-1vRhhnY8couo1lPKsOBLvwS1hfvVAlB6SrhAHWiM3qXOVep_AUenh97SyPAsMCBWH26HgCOrclNl31BZ/pubhtml#

Q.Should we be using #steembasicincome as a tag/topic, or is there no additional benefit?

A. Only use this tag if you are running a competition that is giving away sbi shares.

Q. If I delegate, do I delegate to a pool, or to the main @steembasicincome account?

A. With all the pools they have to manage its best that you delegate all sp to the main pool @steembasicincome and they will manage it from there.

Welcome I hope this helps

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It helps me a lot! I hope that it helps him too. Thanks for your help answering questions this week!

good morning I am from Venezuela try to give my SP but I do not get to that amount apparently. Can I participate in another way?

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Check the #steembasicincome tag for active contests that give you a chance to win SBI shares.

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or: if I try to be aware of all that, thank you for your support.

Hey @steembasicincome I just joined and wanna check it out how will things be going :)

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Next transaction batch should be tomorrow (still manual, but really close to finalizing the enrollments automation).

Thanks for checking us out!

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OMG Manual! That's a lot of hard work! Appreciate it!

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Yeah, it's mad busy over here!

Have you considered a TRAIL on SteemAuto that would allow your supporters to lend their vote to whomever you are voting on therefore increasing the value of the post as well as the curation rewards?

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We do literally hundreds of upvotes per day. Even at 1% follow for each it would quickly drain our member's voting power.

I would like to sponsor in @lahvista
I sent the 1 SBD to @steembasicincome

Do you have to already have a share in order to sponsor someone else? Essentially, I am asking if I can get my first share by sponsoring someone else who also has zero shares. Thereby giving us both 1 share. Thanks!

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Hi! Thanks for your support, @growingpower just upvoted your comment ;) Hope you have a great day

I don't see any content to upvote for the @steembasicincome account.
What am I missing?

Posted using Partiko Android

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We post almost every single day, plus there are dozens of daily responses to !sbi status queries.

@steembasicincome will you be participating in the upcoming beta testing of SMTs? and would you consider making an SMT for basic income?

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We are planning on tokenizing SBI into an SMT. I have not established the full roadmap for that transition yet, so I don't know whether it will include participation in beta testing, but I would like it to.

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Question answered. Thanks. Good to know.

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Question answered. Thanks. Good to know.

I must say thank you to @sumatranate, who has sponsored me to this pool. and thank to @steembasicincome for creating this good support

fore sure a beautiful river picture you have chosen! I like the idea of a basic income.

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Lol thanks! I was trying for a picture that evokes the idea of water collecting in pools and then flowing down to collect in the next pool, and so on.

Hi thanks for doing this. Love the idea of a basic income for everyone, however I really struggled following your idea here. Ian there anyway you could write a shorter post for The hard of learning like me?!

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You send 1 STEEM with the name of another person that you want to support. Both of you will receive upvotes on all your future posts. The value of upvotes you receive will (hopefully) increase over time.

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Thanks. That’s simple enough

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Hey @dannyshine, would you want to sponsor me?
Thank you very much!

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Love the concept. Just to confirm I send 1 Steem and thats it?

I like this idea but in terms of it in society.. I was a big advocate especially after the trauma of spending time on universal credit(https://steemit.com/life/@vibeof100monkeys/universal-credit-nearly-destroyed-me). But I now would not trust the system, maybe this could change my mind. I not sure what it is about it but I just don't feel I trust reliance on the state 💯🐒

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I'm not familiar with the Universal Credit, but from your post it sounds like there are a lot of conditions attached. I'm sorry you had such a bad experience with it!

Just to confirm I send 1 Steem and thats it?

Yes. You can also include the name of somebody you would like to sponsor in the transaction memo. Each of you will receive 1 share. If you don't have somebody you want to help, it's okay to leave it blank and we will boost an existing member.

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Great sounds good!

Universal Credit is slowly been spread through the country its horrific and I wish it on no one. Thankfully I out but the scars are still there and I will help those on it in some way as an apology for paying into it with my taxes!

Right were do I go then. :) 💯🐒

Wonderful initiative! I will write a post about your system.

Is this automated via script?

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Thank you! I appreciate your insightful question. It really seems like it should be, doesn't it?

Right now enrollments are processed manually. We use Power BI and @steemsql to pull the member posting information and voting records. The @steemvoter service is used to deliver the actual upvotes.

I am writing system specifications for full automation of the back office processes. We will be coordinating with @earthnation's developer team to design the bot. That will allow us to continue growing, without requiring so much manual effort.

i want to enroll myself and my friend @cryptoconnector...i have sbd can i send you 1sbd? @steembasicincome

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Please send enrollment transactions using STEEM.

Hi, @steembasicincome

I just joined like a week ago, trying to figure out how everything works. I know i have to make and introductory post, i think i will do that tomorrow. Plus trying to get my steem to at least one so i can send one and sponsor someone to begin enrollment.

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Do you mean you just joined Steem a week ago? After your introduction post, you may want to focus on entering contests (in #contests or #steembasicincome) while you get the lay of the land. Over time, you will learn which communities are the best fit for you.

Welcome to Steem!

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Yes i meant steem. Yea i'll enter contest. Working on getting some steem into my account.

Looking forward to giving this a try! :)

Thank you! As I understand. I'm already with you, I'll delve into the topic))

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There will be some improvements in the next few months, but the core principles will remain the same.

This may be an interesting use case for an SMT.

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I've actually been keeping an eye on that space to see how the development proceeds. I have a whole list ideas for future features, and an SMT could be an good way to bring them to fruition.

I'm new to Steemit - I am an abstract painter and just about literally am a starving artist. I am 18 days in on my Steemit journey and don't have a full Steem yet, but am so excited reading this post about @steembasicincome! As I grow and save up to sponsor someone, if anyone wants to sponsor me I will definitely pay-it-forward by sponsoring someone who is in need when I am able! ♥️- Ellen

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Check out the #steembasicincome tag for contests and giveaways that many of our members are hosting.

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Cool - Thank you @steembasicincome, I will check those out~!

This is really a nice initiative... Thanks @sneakyninja for the opportunity

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Isn't @sneakyninja great? (Full disclosure: this program is run by the same person as The Daily Sneak)

We hope that you enjoy your experience.

ok then I must transfer a steem and in the memo I place only the user who wants to grow with me?
without any url?

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That's right. Then each of you receive a share and will receive upvotes on your future posts.

why do you make this so complicated?

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Incentives theory. Most new programs on Steem fail quickly because they are not designed to handle bad actors. We want it to be a sustainable program over time, which means it needs to be consistently beneficial to existing and new members. Sometimes effective design requires complexity.

First of all this is one of the greatest ideas I ever heard! Second,I send you 1 Steem and a username like @mindreader (in this form I mean) in the memo and that's all,I'm in the pool?

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That's right. But if you try to sponsor yourself, we will assign the second share to an existing member. You have to sponsor somebody, so if you don't choose, we will.

I want to sponsor myself can I transfer the 1 steem now?

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You can send 1 STEEM whenever you would like. For each 1 STEEM, we assign one share to the person sponsored, and one to the person sending the transaction. If you choose not to sponsor somebody else, we will assign the other share to another member, but you cannot assign the other share to yourself.

I will have to read this again when I' not hung over lol

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We know it's quite a bit to process!

Hello, I wanted to know something.. if I purchase 1 share and post 1 everyday.. how much can i earn in a week?

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That's a good question. The program is structured to return your original investment within 6 months. So that's a target of about 0.04 each week, though it varies with fluctuations in STEEM and SBD valuation, and assumes that you always post at 50/50. (Posting at 100% severely decreases your total reward value!)

Oh I am excited to get involved. I have payouts coming up that I can convert to steem to do so. What a great Idea and building on the vision for this place. yesss!!!!!!

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Awesome! Thanks for your support. We look forward to your participation.

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argh... But I didn't follow the directions right on how to convert sbd into STEEM. Now it's locked in savings for three days. Oh this learning curve!!! I'll see you in three days I guess 😜

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Thank you @josephsavage i figured it out and have made my transfer.

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Awesome! I'm working on that batch now, so you will receive your confirmation soon.

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I saw the list of people with shares on one of your other posts and wondered: firstly, do I just send 1STEEM per share? And secondly do I have to sponsor someone every share? And I really didn't understand the pools and how one ends up in either... Is there somewhere that explains it further?

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Each time you send 1 STEEM to sponsor, it will provide 1 share for you and one for somebody else. Every share comes from sponsoring or being sponsored. You can get also get bonus shares by delegation to @steembasicincome (1 share for each 25 SP delegated).

Every share gets the same amount of weekly voting weight. That weight is divided by each member's posting frequency to determine what upvote that member should receive. Upvotes are rounded to the closes whole % (no decimals). If a member's voting weight per post drops below 0.5% in pool 1, they are moved to pool 2, where their voting weight will be higher as it has fewer shares.

Pool 1 has slightly higher effective SP per share, so there is some encouragement to keep your voting weight growing and stay in pool 1 instead of dropping into pool 2.

Ultimately the effective SP per share will reach an equilibrium in both pools and then start growing again.

We will launch a third pool when there are enough members in pool 2 with below 0.5% voting weight to justify a splitting them off into a third pool.

I hope this clarifies things for you sufficiently.

Are you able to give me a rough estimate on what 100 shares can do for my account as far as daily upvote amounts if i post 20-30 times a day? Thank you for your time!

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I hope this has been answered to your satisfaction in the discord. :) Let me know if you still have questions.

This is so complex and amaizing ponzi scheem , all the benifits will be received by the master mind of this plan.. 1 steem per user , and uovote from 2 . Plus delegation combined you will become millionaire within few month time and also if you uovote people you gona have curation rewards ... more people will join 1steem will be sent by each new fool , you will power up all tha and these fools will delegate you steem power as well. Above all they will upvote you automatically on each post. Man you are amaizing , this is an astonishing ponzi scheem .. well done .

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It's amazing that you read the complete overview and still think this is a ponzi scheme. Did you read the math sections, too?

Since the basic income is delivered through upvotes, it is very easy for users to know if they are receiving their expected upvotes or not. If the upvotes stopped going out, no curation rewards, no delegations, no nothing.

In fact, if you study the math (and you can see from the transaction history and upvote history on the blockchain that we are following the proposed math) you will see that there are not any components that even come close to resembling a ponzi scheme.

In a ponzi, somebody sponsors you... that person benefits from you enrolling. In Steem Basic Income, you sponsor somebody else. The person you sponsor doesn't even have to be in the program yet (in fact usually they aren't, that's why it grows so quickly. Okay, that's a a pyramid scheme, which is a simplified ponzi. But still, by definition in a ponzi the people already in the program benefit from new enrollments. In this it's the other way around (read the math section). This is a problem I call 'growth dilution' and I spent a lot of timing thinking about solutions for it.

But you're entitled to think whatever you want. If you have actual logic or reasoning for why you think this is a ponzi scheme, I would love to hear it!

Hello, it looks like when I was sponsoring a couple of people, I left out the @ at the beginning of their name. I hope it doesnt cause an issue, sorry about that! steem.jpg

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Not a problem. We are still processing enrollments manually. When we automate, if we have to have the @ to signal the user-name is starting, we will set it to immediately refund with a helpful memo.

I love this idea @steembasicincome. I have one concern though, what about when entering competitions, and automatic upvotes are not allowed?

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I think most competitions are okay with support upvotes like this program or @qurator, but you would want to check with the hosts. What they're usually trying to prevent are upvotes from bidding bots, etc.

If you do find a contest where it's a problem, you can share the link to your post with us in our comments section or on the discord and we will go back and remove the upvote.

If this comes up a lot, we will add a #SBIdecline tag to our blacklist when we finish setting up our own voting bot.

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Thanks for this, I will do as you suggest. Very progressive way of thinking!

First off, thank you! This is amazing! I've been an abid blogger since I found out about this. You are bringing such enrichment to the experience that we all are coming to appreciate that much more. My life has already changed, and my cup will continue to runeth over. Moreso, thanks to you!

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Wow, thanks! We're glad that it's helping!

Great stuff @steembasicincome. I am fully behind your operation.

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Thanks for your support! I know that you have the analytical training to see through a badly designed program, so your endorsement means a lot.

Hi @steembasicincome
I have a question since I am new here .. i just signed up with you followed the structure that you explained, then i got the message " Please submit enrollments using STEEM." what that mean? what should i do ?
Thank you

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You sent SBD for your 3 enrollment transactions. We only accept SBD when it has a market price greater than STEEM. Otherwise we require STEEM for enrollment transactions, to protect our members from growth dilution. Here is a guide to sell your SBD for STEEM, using the Market: https://steemit.com/steem/@josephsavage/your-steemit-market-a-guide-to-trading-between-sbd-and-steem

Please let us know if you have any more questions.

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Oh it is my bad !!!
I did the wrong thing , that is why you returned 3 SBD back to me , am i correct ?
Well, I have some steem in my wallet , should i re-do again today? or i should wait ?

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It's okay, we all make mistakes sometimes. I got your new transactions, and they will be processed in the next batch (should be tomorrow).

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oh yaye !!
okidokipoki
Thank you for your kind help and understand :-)

Nice, i wish i had a steem to register. good benefits indeed!

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But you submitted a logo for SBI. You're not a member?

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The logo contest is open to anyone. If he wins, then he will be a member with the prize shares he receives!

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Thanks @steembasicincome hope i could get it :)

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yes man, he said on the post :

Each category winner will receive 5 shares in Steem Basic Income, sponsored by @josephsavage. If you've been watching and saving up but haven't joined yet, this is a great opportunity to get in for free!! :) i hope i could get in free! :)

Being a plankton I am definitely interested and hope to join once I get some Steem! Thanks for thinking of this!

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Feast on krill and grow out of being plankton... ;)

Good luck getting some steem together! Keep on eye on our page as we try to resteem if we see a good contest with shares being given away as a prize.

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finally bought some steem and sent it! Thanks for thinking of this :)

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Sweet! We're processing that batch now.

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Thanks, I will look into this a little later down the line.

This is a great and life changing initiative, i am joining the Steembasic income ship. Can't afford to be left behind.

A very interesting idea. I'm going to reread it and decide tonight or tomorrow if I want to join. Steem is cheap, so it would no doubt pay off fairly quickly.

This is pretty exciting! I post under NSFW regularly, does that disqualify me from steembasicincome?

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We use @steemvoter for our upvotes, and I don't know for sure whether it blocks NSFW or not. When we develop our own bot for the upvotes, it will not upvote NSFW.

test Requested by @conet

great movement!

Screen Shot 2018-03-09 at 2.05.31 PM.png I'm sponsoring @leanvix

Do your support for culture project? Like for creating and published some tales book for kids. Than we send them for free to all library and school

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I'm not sure what you're asking.

Good job! Thanks to @sbi2 you have planted 1.57 tree to save Abongphen Highland Forest in Cameroon. Help me to plant 1,000,000 trees and share my Steem Power to the others. Selfvoting is prohibited, but that should be the reason to spread the world to protect our precious environment. Check out profile of our conservation association @kedjom-keku and the founder/coordinator @martin.mikes to get more information about our conservation program. My current SP is 18375.94. Help me to plant more trees with your delegated SP.

Thanks a lot,
your @treeplanter
www.kedjom-keku.com

good post.thumbs up. keep up the good work. indeed change is all we desire

Do you have a short version? I haven't got time to read all this crap.
thanks

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You could review the FAQ that is linked in each update. It's a shorter version.

I want to be sponsored :) if someone is interested XD

Sorry guys, seems very interesting idea but my brain is not capable of more nformation right now. Will check later again . ..

Are you receiving your share of the following universal basic income cryptocurrencies yet?

if anybody wants to try, I'd love to use my links. ty

Mannabase is a cryptocurrency that is distributed to people around the world as Universal Basic Income. Everyone is eligible. Weekly distribution.
Use my referral link here to sign up for universal basic income! For free!
https://goo.gl/7doz6u

SwiftDemand - Cryptocurrency and Universal Basic Income

Swift is a digital currency designed to provide Basic Income.
Members receive Basic Income at the rate of 100 Swifts a day.
Swifts can be exchanged for services/products in the marketplace.

https://www.swiftdemand.com/?referred_by=koanado15

Get 500 Swifts Per Referral!

You need to do the sign up process and verify in order to get weekly coins. ty

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So you came onto another basic income program just so you could post your referral links to Mannabase and Swiftdemand, but without actually registering for this program?

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I've joined mannabase for a while now and still waiting to see how they can exchange their coins in a market place other than transfer between accounts on their platform.

I agree It's not a good idea to post referrals to other similar platforms in comments, but he seems to be taking advantage of steemit, and you, for your popularity.

@martiniblanco could've written a separate post detailing a bit about the other two UBIs and post his referral URLs there instead of posting them in replies.

!sbi status

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Hi @rishi556!

  • you have 182 units and 65 bonus units
  • your rshares balance is 2613963346513 or 1.485 $
  • your next SBI upvote is predicted to be 0.297 $