Using SBI as a currency!
I finally had an opportunity to do what I proposed ages ago, use SBI as a win-win currency!
My fellow freewriter, @d00k13, wanted to rent some SP and was prepared to pay in steem for it. Well, my favorite part of Monopoly, Settlers of Catan, and ... eBay? is outbidding others. I proposed and he accepted that he rent from me partly by sending steem to @steembasicincome with my handle in the memo line!
Why do I prefer this method?
- It incentivizes both users to stick with steem! We're building relationships with customers, so we want them sticking with the platform!
- Long term sustainability! While hodling steem is nice, I'd also note that even as my account value tanked when Steem tanked, my upvotes from SBI accounts only dipped a little. Lots of reasons for this, but it's nice to know that there will be something to rely on down the road.
- Trust. Now, I already trust @d00k13, and I think he trusts me because we've both invested energy in building our blockchain reputations (+_+) but even if we hadn't, with SBI, there's an additional incentive to behave well. A bad actor could be banned from receiving SBI votes and/or have their value downvoted. Trustless system!
Anyways, thrilled to have been finally able to put it in practice! If YOU want to rent SP from me and pay partly in SBI, let me know!
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I'm definitely interested @improv. I lease delegated sp for three accounts and pay in all different ways. Let me know details and I hope we can work something out. SBI is one of my best strategies too.
Excellent! The deal I made that I'd be happy to repeat is 90 days, 3334 SP for 160 sbi plus 160 liquid steem!
How did you come to those numbers? Do you have an idea of apr, or did you do it another way?
The deal blocktrades was offering him was 334 liquid steem for that amount/time. I wanted to offer something that was enough better than that that it would make up for the inconvenience of coordinating with an unautomated, real person.
Could you please spell out what exactly those numbers mean in this deal?
So, @d00k13 wanted to be able to use, for voting, 3334 more steem power than he has. Blocktrades is a business that leases steem power for set periods of time, in this case they were offering to lease 3334 SP (steem power) for 90 days in exchange for 334 steem. When I learned that @d00k13 was willing to pay that fee, I thought it was exorbitant, and so I offered to lease him the same amount for the same amount of time for a lower fee.
160 liquid steem (just steem, but being precise, that it's immediately available as a currency)
And 160 SBI, which means buying for 1 steem each levels for both of us in steem basic income. Since he receives half the benefit of SBI, we can value them at .5 steem each.
So, with that calculation, he is giving a value of 240 steem for something he values at minimum 334 steem.
Thanks for explanation!
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Is 160 SBI per month or per 90 days?
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Were you thinking of getting this deal? I was thinking of buying more steem.
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Good prices...
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Indeed! Are you feeling tempted, but warring within yourself?
90 days
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So, @d00k13 wanted to be able to use, for voting, 3334 more steem power than he has. Blocktrades is a business that leases steem power for set periods of time, in this case they were offered to lease 3334 SP (steem power) in exchange for 334 steem. When I learned that @d00k13 was willing to pay that fee, I thought it was exorbitant, and so I offered to lease him the same amount for the same amount of time for a lower fee.
160 liquid steem (just steem, but being precise, that it's immediately available as a currency)
And 160 SBI, which means buying for 1 steem each levels for both of us in steem basic income. Since he receives half the benefit of SBI, we can value them at .5 steem each.
So, with that calculation, he is paying 240 steem for what he would have paid 334 steem
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That's interesting way to use SBI shares... I sell games for STEEM and accept SBI payments for the third of the total value I get paid in (you can check my latest store post on @ahmadgameslist). Lets increase the value of this blockchain!
Indeed! Do you also sell physical games or only digital ones?
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Only digital PC/Steam games.
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That is most definitely a creative payment system, definitely a win win and long term benefit to both parties.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by improv from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
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This post has received a 3.13 % upvote from @drotto thanks to: @sbi-booster.