Steem Basic Income - Member Upvotes Drive Sustainability (3 June 2018)
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.
![](https://steemitimages.com/DQmPg2iJCCN8dPTH4VzWdrXed9m7cmtB53hyf5G247pxCF9/image.png)
Many of our members use the #steembasicincome tag for their contests, so check there for contests that we might not have resteemed!
Still Going Strong
We are up to seven pools, so your upvotes could come from @steembasicincome, @sbi2, @sbi3, @sbi4, @sbi5, @sbi6, or @sbi7. We currently have 2672 members that have posted within the last 28 days, and many more members that have not. Unfortunately, members that are not posting are not receiving upvotes. There are currently 16793 'shares' in the program, and it grows every day.
Support from Members
Thank you all for your support! Upvotes that we receive from members are an essential component to keep delivering a sustainable basic income!
img source: http://www.steemreports.com/top-voters/@steembasicincome
All members that upvote consistently are rewarded with a bonus increase in their voting weight. To get the best benefit, we recommend using @steemvoter or @steemauto.
We have updated the targeting so that members get full bonus if they upvote each update, even if we miss a few days. We have been using some of the fixed-return upvoting services again, and you can see their impact in the chart. It definitely helps boost long-term sustainability, as you can see in our 28-day SP rewards:
@steemsql DB, with visualization in Power BI
Self-voting Updates Resumed
Currently the average upvoting bonus is 34.58% but our weekly update income is only 19.23% of the amount that we pay out in upvotes each week. Since we miss our daily updates about 25% of the time, we can project that our weekly update income would be closer to 24.72% of our weekly upvotes handed out. Paying out more upvoting bonus than we earn from updates indicates that most members are gaining more from their upvote bonus than we are earning from their upvotes.
Our weekly sustainability goal is for the average upvoting bonus to be roughly 40%, and for our update income to be 40% of what we pay out in upvotes each week. Since the gap between upvote bonuses paid and update value received is about 10% weekly and a self-vote on regular updates would be 10% of total voting power.... the solution is pretty obvious to us.
Effective immediately (e.g. you will see it on this post) we will resume self-voting each update. This will have a temporary impact on voting power across our accounts, but it will make a huge impact on long-term sustainability. Since most programs on Steem charge a 15% management fee, we think that a 10% self-voting target on top of 5% management shares is still very reasonable.
Enrollment
If you want to get involved, or to increase the share of basic income that you receive, enrollment is very straightforward:
Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 share in the program. You can sponsor any active Steemian, it does not have to be a current member.
If you're unclear, please check out our full transaction memo guidelines and then let us know if you have any questions.
https://steemit.com/basicincome/@steembasicincome/steem-basic-income-new-transaction-memo-guidelines
The official currency for enrollment is STEEM. We are not currently accepting SBD for enrollments. Enrollments are validated manually, and typically take 2-3 days to process.
Questions?
Please read our recently published FAQ. Most questions are addressed in our FAQ or in the additional resources that it suggests. If you still have questions, ask in the comments section or join us in our new discord server.
To review your share counts, we explain our tracking sheet here.
![](https://steemitimages.com/DQmYyGi4HvKXuvQJ7sWPQHH5W33ThfAE74dpsJgMJ6n8UiZ/SBI%20Promo%20Banner%20PNG.png)
How do I know if I'm enrolled? I haven't really seen an upvote
Your last couple of posts show upvotes from @sbi6, but my records show that you were moved to @sbi5 yesterday (after your most recent post).
Thanks
If posting 3 times per week. How long to break even on enrollment?
Current stats for annual ROI:
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVBmH7eDuXiwvtNKJLNVgHsgGaaUcaUbT5ZiMk8stD8Gy/image.png)
Thanks.
Will you guys accept SBD in the near future?
That depends on market conditions. We only accept SBD when it as at parity with STEEM.
Or you can do 2 SBD wither or not SBD is on par with steem. That way people can have a choice depending on market conditions.
That's a pretty good idea.
You can trade SBD into Steem on the internal market, without leaving Steemit or paying fees! :) That's what I do.
Just watched your $.05 vote drop to a $.01
Was just getting back onboard and about to get more shares.
What's going on?
From the sheet: https://docs.google.com/spreadsheets/d/e/2PACX-1vRhhnY8couo1lPKsOBLvwS1hfvVAlB6SrhAHWiM3qXOVep_AUenh97SyPAsMCBWH26HgCOrclNl31BZ/pubhtml#
You increased your average posting frequency from 17.5 posts per week over the last 28 days to 30 posts in the last week.
A higher frequency results in a lowered voting weight per post. But you are receiving still the same per week from steembasicincome.
Also the price of Steem is dropping right now and posts are being paid out partly in Steem to reduce the SBD inflation based on the Debt/Equity, also reducing the $-value.
OK!
@steembasicincome Have you used @dustsweeper?
It will really help boost your upvotes from people like me.
Dustsweeper is not needed for our posts, because our upvotes already exceed the dust threshold. We check our comments daily with whichever pool account is closest to maximum VP and upvote any of our comments with dust votes by just enough to ensure payout.
Till yesterday (June 3) I was receiving an upvote of 1% from steembasicincome. Today I received a 1% upvote from sbi2, that is less than half of what I was receiving. What happened?
As far as I can tell from the sheet ( https://docs.google.com/spreadsheets/d/e/2PACX-1vRhhnY8couo1lPKsOBLvwS1hfvVAlB6SrhAHWiM3qXOVep_AUenh97SyPAsMCBWH26HgCOrclNl31BZ/pubhtml# ):
You increased your average posting frequency from 9.5 posts per week in the past 28 days to 16 posts in the last week.
The close to double amount of posts means a reduction in the voting weight per post. Looks like me, that Pool 2 is more fitting.
But because of the increased posting frequency you are still receiving the same amount per week.
That's pretty accurate. Thanks for your help!
Many people don't understand that value per post is adjusted to deliver consistent weekly value. That's specifically to handle cases like this. If upvote weight was based on 9.5 post per week and did not adjust to deal with posting 3x as much... people could very easily increase their posting frequency and 'rob' the other members of voting power.
It seems to be, at least it appears that way to me, that this is the most common question regarding sbi. They are getting shares (sponsored or sponsoring someone) for the program, they see the upvotes at a specific weight with a specific payout but not the weekly income from steembasicincome. A feedback about that could help in that regard.
But we are getting way much more than just those $ from steembasicincome. I would even say more than that simple return is implying. Every post gets an upvote and with that visibility. The reputation is growing from each upvote. This level of support makes the whole program really awesome and unique.
It's all explained in the FAQ that nobody bothers to read.
The usual enduser behaviour. Ignoring those, unless they are force fed with that.
I think I will start including a link to the FAQ in every answer from now on, just to spread the instructions.
That's a great idea. Thanks for your help in answering questions regularly!
Keep up the great work SBI, I may not upvote as soon as you post, but I always catch up when I see that I missed one. 👍
Thanks for your support!
amigo aqui viendo su pots, saludos y cuento con su ayuda y visitas
This intiative is really helpful especially for minnows that are struggling to get upvotes. Though, there still something that confuses me. If I bought a share or if someone bought a share for me that person and I will get 1 share each? Also, will I get additional share if I constantly upvote your post? I hope you can help clear this up for me @steembasicincome. Thanks.
1 steem buys you and someone you choose, 1 share of sbi.
You can have 100 shares per pool. Currently 7 pools
Then if you upvote thier posts every time then you will get a 100% bonus.
Thank you! Your reply help clear things up.
How come when i just donated $1 steem, i go from sbi5 to sbi6? What is the deal?
Your posting frequency increased from 36 to 50 posts per week. You're barely qualified for pool 6 still and may be moved again to pool 7 where you would receive one upvote daily instead of upvotes on every post.
So i give money and i move down....hmmm
Did you even read my response? We have been very open that share counts determine weekly weight and then your own posting frequency determines upvote per post. Since our current voting software has a hard minimum of 1% upvotes, if you post too frequently then you are moved down.
I'm sorry you don't like it, but I cannot allow you to rob your fellow pool members by paying out twice as much as everybody else for posting 7+ times per day.
I guess ill do some more investigating. Still not 100% understanding how to move to higher tiers. Rob? Lol im just posting my stuff, no robbing intentions here.