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.

Instead of continuing to post a boring member list every couple of days whenever enrollments are caught up, we are going to start showing some other infographics that give perspective on what is happening in the program, with our thoughts on what they mean. We will continue to post a full member list at least once a week so that you can check your share counts for accuracy.

Today's visual is a distribution chart showing 7 days of upvote activity from @steembasicincome. The labeling is poor, and 323 votes actually means 323 accounts that received votes. The actual number of votes is much higher!

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

The 11.9% self-vote is higher than our target value. Actual weekly voting potential is 7000% (10 daily * 100% * 7 days). Because we have so many inactive members, and a couple members with too many shares to get their full upvote potential, our voting power has been riding much closer to 100% than we would like. Whenever we see it above 99%, we have been doing an extra self-vote so that the voting power would not get to 100% and be wasted. As a more permanent solution, we adjusted the total upvote potential in our model to 9000%. Obviously we can't upvote at that level without draining our voting power, but it compensates for the inactives and prevents upvote waste in a more sustainable way.

We were surprised at the high percentage achieved by @scarlet7. When we looked into why, it made total sense. @scarlet7 is our most prodigious upvoter. She has upvoted @steembasicincome 40 times in the last 4 weeks, at 100% every time! Thanks @scarlet7, you set a great example for the rest of us to live up to! When members upvote @steembasicincome, everybody benefits!

The third interesting thing is that @sneakyninja only got 8.5% of the voting power, even with 21% of the shares! Everybody else is getting more voting weight because @sneakyninja isn't posting enough to use the full allotment it should be receiving. @sneakyninja has a daily curation journal called The Daily Sneak that features a wide variety of posts. Guest curators get paid in SBD and featured authors get resteemed and sponsored for shares in @steembasicincome. Stop by and check it out!

img source pixabay

Delegation Bonus Shares

Existing members can receive bonus shares by delegation. For every 25 SP delegated to @steembasicincome, members will receive 1 bonus share. Currently each share receives a weekly voting weight of roughly 7.91%

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. The approximate APR for this delegation is 27%. That's a 27% annual return to boost everybody's basic income. I don't think it gets much better than that!

Here are some Handy Delegation links:

100	200	300	400	500

Enrollment

Sounds intriguing... How do I sign up?

Send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the comments. You and the person you sponsor will each receive 1 share in the program.

Questions?

We broke down the mechanics for how the program works in the extended introduction, and we hope to provide an updated overview soon. If you have any questions, ask away in the comments section!