Vote Values in Steem Basic Income: Part Four - Value Balances and Upvote DeliverysteemCreated with Sketch.

in steembasicincome •  10 months ago 

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.

Introduction

As a subscription upvote service that utilizes Steem blockchain to deliver a sustainable basic income, we are completely dependent on Steem blockchain reward mechanism.

In Part One, we explored what drives value on Steem.
Vote Values in Steem Basic Income - Part One: Blockchain

In Part Two, we explained each of the factors that determine how we allocate value within the SBI system, and how those four factors are handled under our manual system.
Vote Values in Steem Basic Income - Part Two: The Way We Were

In Part Three, we explored how the four factors are handled in the new system that we just released a week ago.
Vote Values in Steem Basic Income - Part Three: Where Are We Going?

Today I would like to focus on putting it all together. To do that, we will focus on the new balance tracking and upvote delivery systems. This part isn't about where the value originates, which is covered in detail before, but on how the value is tracked and delivered.

Member rshares Balances

When a member is initially enrolled in successful enrollment transaction, we start tracking an rshares balance for that member. That's the most accurate tracking unit possible in STEEM.
Based on enrollment level and participation in each of the four previously explained value factors, the member rshares balance steadily grows.

Upvote Delivery

Each time a member posts, we check their rshares balance. If they have enough, we deliver an upvote that uses 20% of the member's rshares balance. If they do not have enough, the post is skipped. Sometimes skipped posts would receive a catch-up vote later when their balance grows large enough.

Why 20%?

The biggest complaint that people had about the old manual system was the sudden and dramatic swings in vote value.

Imagine a member was receiving a 2% upvote regularly. Because of the way the tracking worked, that could have been a calculated range from 1.50% all the way to 2.49%. Suppose that the member was posting 4x per week, and their calculated value was 1.55%. The next week that member posts 5x, and their calculated value drops from 1.55% to 1.24%, which rounded to a 1% upvote instead. That's only a 20% decrease in their calculated value, but the received upvote value dropped by 50%! Ouch!

Technically that member was receiving extra value while rounding up from 1.55% to 2%, and it comes out of the later value when they're rounding down from 1.24% to 1%, but . . . that isn't exactly a comfort if they made decisions about increasing their enrollment level based on the 2% upvote value.

Posting Frequency

Under the new system, a member posting two consecutive posts with no time for their rshares to recharge in between would receive 20% of their balance on the first post. The second post will receive 20% of the remaining balance, so the second upvote would be only 20% smaller.

Since most frequency changes are not two posts back-to-back, most changes in upvote value between posts will be smaller than 20%. The balance would partially recharge during the time in between posts.

Vote values between posts will always fluctuate because STEEM price feeds are constantly changing, but even if STEEM prices held constant, the vote value would fluctuate with the changes in member posting frequency.

What is your average interval between posts for your last five posts? If your most recent interval is longer than your average, then your vote value in rshares will increase. If your most recent interval is shorter than your average, then your vote value in rshares will decrease.

The key takeaway is that SBI value is calculated based on time intervals, but delivered via post upvotes.

A member with 1000 SBI that posts 1x per day would receive the same weekly value if they increase their posting frequency to 10x per day, but their votes on each post would get progressively smaller as they transition from the lower posting frequency to the higher posting frequency.

Minimum Upvote Values

A totally new feature in the new system is minimum upvote values. Instead of spewing dust votes, we have opted to set a target minimum upvote of 0.01. If your rshares balance is not at least 0.05, then it cannot support an 0.01 upvote, and your post will be skipped until your rshares balance grows large enough.

The value from a skipped post is not lost, it remains in your rshares balance until successfully voted.

Recommended SBI Levels

Important Reminder: This section is NOT financial advice, and SBI is NOT a financial product. This section contains recommendations to help you reach common goals for how many people use SBI. You should review Parts One and Three to help you identify how to use SBI to reach your own goals.

For most of the last year, each 1 SBI has delivered a weekly upvote value of 0.01 SP. That may not hold true for ever (see Part 1), but as long as it does there is a relatively easy way to determine how much SBI to target.

If your goal is to get an SBI upvote on every post, then you need to subscribe at $1 worth of SBI per post per week. With STEEM at 0.33, that means you need 6 SBI to get one upvote every week. When STEEM goes to 0.40, you will only need 5 SBI to get an upvote every week. At 0.50 STEEM, you will need 4, etc.

If you are posting more than one time per week, take that number and multiply by how many posts you made this week. So with STEEM at 0.33, you would need 6 SBI * 7, or 42 SBI to get an upvote every day.

If you want to ensure that your posts always reach payout from SBI alone, you need to double that value again.

These calculations only include the value from your SBI levels. Bonus units from delegation would work in much the same way, but upvoting rewards are linked to your upvote value, not to your SBI levels, and you would need to factor those in separately.

What about ROI?

To be explicitly clear, Steem Basic Income is a completely voluntary subscription-based upvoting service. Calculating ROI will always be complicated for Steem Basic Income. An accurate understanding of the value factors in SBI is critical to correctly understanding your upvote value.

Your own behavior (or external factors) may change the total values, and you will get results that are different than you expect. There are no guarantees in life, and the only guarantee we can make is that we will always try to offer fair treatment and provide a reasonable way out if we make changes that you think are unfair.

The most accurate way to estimate potential return would be to ignore factors 2, 3, and 4 as factors that are not related to your initial subscription amount, and compare the current weekly upvote value per unit to the current subscription price per unit (1 STEEM if you are generously enrolling others, using it as a contest prize, etc or 0.5 STEEM if you are coordinating with a friend to sponsor each other or enrolling another account that you control).

We do this in our tracking sheet, and we even strip out curation and add back in SBD premium to print an estimated annual return. This appears in the Summary tab as "Simple Return per Unit". This is not a guaranteed return, but an estimate of the results currently available to an active member if nothing changes. There are many factors that influence this value, and the biggest factors are things that we have no control over.

To facilitate doing your own calculations, we publish the weekly STU's per unit every week in our weekly delegation report. As we resume a more consistent posting schedule, we may include this in other updates as well. Conveniently, at the current reward pool equilibrium, the STU's controlled by each unit are about 1% of the STEEM price. This has been the equilibrium for many months now, if you skip over the period where the reward pool spiked right after HF20 because not enough rewards were being claimed.

We have no idea how long to expect this equilibrium to continue. We're not leaving unless STEEM goes to literal, actual 0, and we hope that you're not either!

Helpful Reading📖
A Complete OverviewFrequently Asked Questions
Managing Voting PowerPulling Back the Screen
Steem Basic Income, rShares, and AutomationNew SBI Member Lookup Tool
Vote Values in Steem Basic Income - Part One: BlockchainVote Values in Steem Basic Income - Part Two: The Way We Were


Foreign Language Resources📖
[VN] Phân tích rủi ro và ước lượng xác suất cho SBI.[FR Traduction] Steem Basic Income - FAQ
[PT] Steem Basic Income - Questões FrequentesSteem基本收入 (Steem Basic Income) - 常见问题 FAQ
Filipino Translation: Steem Basic Income - Frequently Asked QuestionsFilipino Translation: Steem Basic Income - A Complete Overview
Indonesia translation: Steem Basic Income - Frequently Asked Questions

Enrollment

If you want to get involved, or to increase the share of basic income that you receive, enrollment is pretty 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/busy/@steembasicincome/steem-basic-income-updated-transaction-memo-guidelines

The official currency for enrollment is STEEM. Please allow up to 7 days for your enrollment to be processed.

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 discord channel. To review your share counts, we recently introduced our new SBI Member Lookup Tool.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

!sbi status

Hi @thevillan!

  • you have 42 units and 25 bonus units
  • your rshares balance is 124884818505 or 0.077 $
  • your next SBI upvote is predicted to be 0.015 $


    Did you know Steem Basic Income has a Quality Policy?

!sbi status

Hi @thevillan!

  • you have 12 units and 25 bonus units
  • your rshares balance is 99228819448 or 0.052 $
  • you need to wait until your upvote value (current value: 0.010 $) is above 0.011 $

!sbi status

@steembasicincome How many bonus shares will I get for each SP delegated now?

Each 2 SP delegated will result in 1 bonus unit. These are typically processed by our bot within 2-3 hours.

I show you at 27 bonus units due to your delegation. Thank you for your support!

Thanks! I was worried that my delegation doesn't count.

You're welcome.


You just planted 0.07 tree(s)!


Thanks to @fuadsm

We have planted already
5574.39 trees
out of 1,000,000


Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 32184.78
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
treeplantermessage_ok.png

@steembasicincome Also how long does it take to process bonus shares since the delegation?


You just planted 0.07 tree(s)!


Thanks to @fuadsm

We have planted already
5618.34 trees
out of 1,000,000


Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 32185.03
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
treeplantermessage_ok.png

Hi @ucukertz!

  • you have 100 units and 0 bonus units
  • your rshares balance is 1983944181196 or 1.134 $
  • your next SBI upvote is predicted to be 0.227 $

Hi @ucukertz!

  • you have 100 units and 0 bonus units
  • your rshares balance is 1983944181196 or 1.134 $
  • your next SBI upvote is predicted to be 0.227 $


You just planted 0.07 tree(s)!


Thanks to @fuadsm

We have planted already
5562.64 trees
out of 1,000,000


Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 32184.69
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
treeplantermessage_ok.png

!sbi status

Hi @steeming-hot!

  • you have 31 units and 25 bonus units
  • your rshares balance is 223621355962 or 0.119 $
  • your next SBI upvote is predicted to be 0.024 $


    Did you know Steem Basic Income has a Quality Policy?

!sbi status

Hi @steeming-hot!

  • you have 41 units and 25 bonus units
  • your rshares balance is 215227607899 or 0.112 $
  • your next SBI upvote is predicted to be 0.022 $


    Did you know Steem Basic Income has a Quality Policy?

!sbi status

Hi @contestkings!

  • you have 1418 units and 0 bonus units
  • your rshares balance is 4841183527399 or 2.863 $
  • your next SBI upvote is predicted to be 0.573 $

!sbi status

Hi @steeming-hot!

  • you have 31 units and 25 bonus units
  • your rshares balance is 223455690515 or 0.106 $
  • your next SBI upvote is predicted to be 0.021 $

ok nice saying

Do you not mind to do some translation in Japanese?

Posted using Partiko Android

Can you please reach out to @josephsavage about this on our Discord?

Translation is welcome, but we have a new FAQ coming out soon that would be of more value.

Yes sure and thanks!

Posted using Partiko Android

!sbi status

Hi @cryptogamestrat!

  • you have 607 units and 0 bonus units
  • your rshares balance is 3994038232329 or 2.352 $
  • your next SBI upvote is predicted to be 0.470 $
  • as you did not write a post within the last 7 days, your comments will be upvoted.

!sbi status

Hi @thevillan!

  • you have 9 units and 0 bonus units
  • your rshares balance is 84094014184 or 0.048 $
  • you need to wait until your upvote value (current value: 0.010 $) is above 0.011 $

Hi @steembasicincome!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 5.604 which ranks you at #502 across all Steem accounts.
Your rank has dropped 3 places in the last three days (old rank 499).

In our last Algorithmic Curation Round, consisting of 192 contributions, your post is ranked at #21.

Evaluation of your UA score:
  • You've built up a nice network.
  • The readers appreciate your great work!
  • Good user engagement!

Feel free to join our @steem-ua Discord server

Just when we make the top 500 we drop again! At least I think I know why.

!sbi status

Not sure why our bot did not respond to this, unless your transaction had not been processed yet. I show you with 1 unit now.

Thank you for answer! One unit = 0.022$ yes? Good idea! I talk with my friends about sbi. Regards!

Posted using Partiko Android

I don't know where you're getting that value from?

Each 1 STEEM creates 2 SBI units. Each unit gets 5.6B rshares every week. Right now that's about 0.0031.

Thanks for the explainatin. Really glad I got into SBI early and built up some shares its really encouraged me to keep posting daily

Yes, me too. It is also my motivation to keep posting regularly.

Excellent information in this post. It's a must read. Also you and your family have a very Merry Christmas 🎄⛄💕

Posted using Partiko Android

Thanks! We kept it low-key since @babysavage is too young to really know the difference. Next year we will do more.

!sbi status

Hi @thevillan!

  • you have 9 units and 25 bonus units
  • your rshares balance is 90254014184 or 0.051 $
  • you need to wait until your upvote value (current value: 0.010 $) is above 0.011 $

!sbi status

Hi @sourovafrin!

  • you have 2 units and 0 bonus units
  • your rshares balance is 160000000 or 0.000 $
  • you need to wait until your upvote value (current value: 0.000 $) is above 0.010 $

!sbi status

Hi @steeming-hot!

  • you have 41 units and 25 bonus units
  • your rshares balance is 226490247635 or 0.139 $
  • your next SBI upvote is predicted to be 0.028 $


    Did you know Steem Basic Income has a Quality Policy?

!sbi status

Posted using Partiko Android

Hi @dexpartacus!

  • you have 3 units and 0 bonus units
  • your rshares balance is 105666513819 or 0.052 $
  • you need to wait until your upvote value (current value: 0.010 $) is above 0.012 $

Structure of your total SBI vote value:

  • 8.96 % has come from your subscription level
  • 0.00 % has come from your bonus units
  • 0.00 % has come from upvoting rewards
  • 0.00 % has come from new account bonus or extra value from pre-automation rewards


    To reduce blockchain clutter, you can also check your status in our Discord server!
    https://discord.gg/VpghTRz

!sbi status

Hi @blockchainstudio!

  • you have 1 units and 0 bonus units
  • your rshares balance is 1200000000 or 0.001 $
  • you need to wait until your upvote value (current value: 0.000 $) is above 0.010 $

!sbi status

Hi @cyoadventuregame!

  • you have 13 units and 0 bonus units
  • your rshares balance is 336071848118 or 0.199 $
  • your next SBI upvote is predicted to be 0.040 $

!sbi status

Hi @masoom!

  • you have 11 units and 0 bonus units
  • your rshares balance is 19840000000 or 0.012 $
  • you need to wait until your upvote value (current value: 0.002 $) is above 0.010 $

!sbi status

Posted using Partiko Android

Hi @masoom!

  • you have 11 units and 0 bonus units
  • your rshares balance is 26880000000 or 0.016 $
  • you need to wait until your upvote value (current value: 0.003 $) is above 0.010 $

!sbi status

Posted using Partiko Android

Hi @masoom!

  • you have 21 units and 0 bonus units
  • your rshares balance is 36240000000 or 0.021 $
  • you need to wait until your upvote value (current value: 0.004 $) is above 0.010 $

!sbi status

Posted using Partiko Android

Hi @masoom!

  • you have 22 units and 0 bonus units
  • your rshares balance is 43040000000 or 0.025 $
  • you need to wait until your upvote value (current value: 0.005 $) is above 0.010 $

!sbi status

Hi @cranium!

  • you have 5 units and 0 bonus units
  • your rshares balance is 17922054977 or 0.011 $
  • you need to wait until your upvote value (current value: 0.002 $) is above 0.010 $

!sbi status

Hi @cosmictriage!

  • you have 5 units and 0 bonus units
  • your rshares balance is 50477344332 or 0.030 $
  • you need to wait until your upvote value (current value: 0.006 $) is above 0.010 $

!sbi status

!sbi status

Hi @thebluewin!

  • you have 307 units and 0 bonus units
  • your rshares balance is 1263294994653 or 0.738 $
  • your next SBI upvote is predicted to be 0.148 $

!sbi status

Hi @ketcom!

  • you have 17 units and 0 bonus units
  • your rshares balance is 42320000000 or 0.025 $
  • you need to wait until your upvote value (current value: 0.005 $) is above 0.010 $

!sbi status

Posted using Partiko iOS

Hi @broxi!

  • you have 1 units and 0 bonus units
  • your rshares balance is 2480000000 or 0.001 $
  • you need to wait until your upvote value (current value: 0.000 $) is above 0.010 $

!sbi status

Posted using Partiko Android

!sbi status

Hi @whitelightxpress!

  • you have 8 units and 0 bonus units
  • your rshares balance is 124596946907 or 0.073 $
  • your next SBI upvote is predicted to be 0.015 $

!sbi status

Hi @thebluewin!

  • you have 308 units and 0 bonus units
  • your rshares balance is 1460414994653 or 0.850 $
  • your next SBI upvote is predicted to be 0.170 $

!sbi status

Hi @darklands!

  • you have 19 units and 0 bonus units
  • your rshares balance is 73928003856 or 0.042 $
  • you need to wait until your upvote value (current value: 0.008 $) is above 0.010 $

lol a was sure a had 6 9 or something :) ty..

Up to 21 now.

You were sponsored by @ecoinstant a couple of times (total 2 units) and by @loreshapergames a few times (total of 6 units). The rest is from your own enrollments (13 units).

!sbi status

Hi @eitja!

  • you have 7 units and 0 bonus units
  • your rshares balance is 80468200374 or 0.046 $
  • you need to wait until your upvote value (current value: 0.009 $) is above 0.010 $

!sbi status

Hi @actifit-peter!

  • you have 7 units and 25 bonus units
  • your rshares balance is 53545300037 or 0.032 $
  • you need to wait until your upvote value (current value: 0.006 $) is above 0.010 $

!sbi status

Posted using Partiko iOS

Hi @preparedwombat!

  • you have 551 units and 151 bonus units
  • your rshares balance is 7774545980911 or 4.599 $
  • your next SBI upvote is predicted to be 0.920 $

!sbi status

Hi @peter2017!

  • you have 11 units and 0 bonus units
  • your rshares balance is 325184085695 or 0.192 $
  • your next SBI upvote is predicted to be 0.038 $

!sbi status

Hi @khan.dayyanz!

  • you have 61 units and 0 bonus units
  • your rshares balance is 221656236008 or 0.127 $
  • your next SBI upvote is predicted to be 0.025 $

!sbi status

Posted using Partiko iOS

Hi @theb0red1!

  • you have 29 units and 101 bonus units
  • your rshares balance is 2701925488063 or 1.531 $
  • your next SBI upvote is predicted to be 0.306 $

!sbi status

Hi @barmbo!

  • you have 18 units and 0 bonus units
  • your rshares balance is 78362679745 or 0.044 $
  • you need to wait until your upvote value (current value: 0.009 $) is above 0.010 $

!sbi status

Hi @preparedwombat!

  • you have 774 units and 250 bonus units
  • your rshares balance is 2127425763299 or 1.211 $
  • your next SBI upvote is predicted to be 0.242 $

!sbi status

Hi @vaitelavicius!

  • you have 11 units and 0 bonus units
  • your rshares balance is 81302174733 or 0.048 $
  • you need to wait until your upvote value (current value: 0.010 $) is above 0.010 $

!sbi status

Hi @steeming-hot!

  • you have 8 units and 0 bonus units
  • your rshares balance is 98373180447 or 0.056 $
  • you need to wait until your upvote value (current value: 0.011 $) is above 0.011 $

@steembasicincome is declared the winner of this race. Better luck next time, @sbi2!

Hi @steeming-hot!

  • you have 8 units and 0 bonus units
  • your rshares balance is 98373180447 or 0.056 $
  • you need to wait until your upvote value (current value: 0.011 $) is above 0.011 $

!sbi status

Hi @yoganarchista!

  • you have 1 units and 0 bonus units
  • your rshares balance is 3120000000 or 0.002 $
  • you need to wait until your upvote value (current value: 0.000 $) is above 0.010 $

!sbi status

Hi @steeming-hot!

  • you have 8 units and 25 bonus units
  • your rshares balance is 83502972798 or 0.048 $
  • you need to wait until your upvote value (current value: 0.010 $) is above 0.011 $

!sbi status

Hi @preparedwombat!

  • you have 782 units and 250 bonus units
  • your rshares balance is 3154620910731 or 1.781 $
  • your next SBI upvote is predicted to be 0.356 $

!sbi status

Hi @joanstewart!

  • you have 20 units and 50 bonus units
  • your rshares balance is 339936963493 or 0.194 $
  • your next SBI upvote is predicted to be 0.039 $

!sbi status

!sbi status

!sbi status

!sbi status

!sbi status

Hi @grider123!

  • you have 3 units and 0 bonus units
  • your rshares balance is 89122079436 or 0.047 $
  • you need to wait until your upvote value (current value: 0.009 $) is above 0.011 $

!sbi status

Hi @steeming-hot!

  • you have 11 units and 25 bonus units
  • your rshares balance is 142038262210 or 0.074 $
  • your next SBI upvote is predicted to be 0.015 $

!sbi status

Hi @conradsuperb!

  • you have 1 units and 0 bonus units
  • your rshares balance is 41233883103 or 0.024 $
  • you need to wait until your upvote value (current value: 0.005 $) is above 0.010 $

!sbi status

Hi @steemstreems!

  • you have 5 units and 51 bonus units
  • your rshares balance is 91550882173 or 0.055 $
  • you need to wait until your upvote value (current value: 0.011 $) is above 0.013 $

!sbi status

Hi @steeming-hot!

  • you have 21 units and 25 bonus units
  • your rshares balance is 139550095716 or 0.086 $
  • your next SBI upvote is predicted to be 0.017 $

!sbi status

Hi @thevillan!

  • you have 22 units and 25 bonus units
  • your rshares balance is 90763372611 or 0.056 $
  • your next SBI upvote is predicted to be 0.011 $

!sbi status

Hi @steeming-hot!

  • you have 31 units and 25 bonus units
  • your rshares balance is 187852176366 or 0.104 $
  • your next SBI upvote is predicted to be 0.021 $

!sbi status

Hi @thevillan!

  • you have 32 units and 25 bonus units
  • your rshares balance is 88637241141 or 0.049 $
  • you need to wait until your upvote value (current value: 0.010 $) is above 0.010 $

!sbi status

Posted using Partiko iOS

Hi @soyrosa!

  • you have 32 units and 0 bonus units
  • your rshares balance is 981169349232 or 0.578 $
  • your next SBI upvote is predicted to be 0.116 $

!sbi status

Hi @thevillan!

  • you have 32 units and 25 bonus units
  • your rshares balance is 123308352791 or 0.059 $
  • you need to wait until your upvote value (current value: 0.012 $) is above 0.012 $

!sbi status

Hi @quotes-haven!

  • you have 20 units and 0 bonus units
  • your rshares balance is 55702977314 or 0.033 $
  • you need to wait until your upvote value (current value: 0.007 $) is above 0.010 $

!sbi status