Introducing Steem Basic Income

After some delay and a few tweaks, we have a back-end system in place that meets most of the requirements. There will continue to be modification, but we are ready to begin accepting applicants.

img source pixabay

As I review the literature on Universial 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 STEEM couldn't be part of the answer?

The purpose of this account is to provide every Steemian with a basic income.
How can we do that?

To be honest, we probably can't. We don't have enough resources. What may seem small to some, a few cents or a few dollars a day, may be meaningful to others. For this to work, we need people to buy into the system, or sponsor others into the system.

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 sponsored 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 pool will receive their income through post upvotes. The total daily vote strength (100%*10 = 1000%) will be divided by the number of shares to determine the vote weight each share receives.

Growing your Steem Basic Income

These seem like small upvotes. Can I increase it?

There are several ways to increase your Steem Basic Income.

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.

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 drop below 20, 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 your best quality content. Since there needs to be something for us to upvote, you need to at least post sometimes. There will be a periodic review of post frequency and member weights may be adjusted to align with your posting frequency. Members that attempt to abuse this may be removed from the system.

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

In the event that 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 1 members 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.