Upvote Shares Level 2 (100% Complete)
Level 2
This was the first level where shares were actually available for everyone and things have gone quite smoothly. It is still somewhat of a learning experience how to get the spots filled in a tine efficient way along with the sponsorships of the minnow shares and making sure everyone gets their daily vote. It has been a week since the Level "Sold Out", all the minnow shares have been sponsored and I would say everything works pretty good right now despite a little steemauto downtime. There are enough alternatives available in case it becomes a real issue over time.
Every Share came with a 0.300 STEEM 'Entry Cost' that was fully used to get a 90 Day delegation of 130 SP and also allowed for a Minnow Sponsorship. All Minnows that were sponsored have been send a message and were added to the upvote list of the @minnowshares account.
(A full list with the amount of Minnow Shares Everyone has will be made later on the @minnowshares account.)
Read Table:The Account reached 548SP which opened up Level 2 and made 50 new shares available that were aquired for 3.320 STEEM each (166 STEEM Total). This was Powered Up and 16.6SP (10%) was added on top. The account now needs to reach 744SP making every share worth 3.380 STEEM to open up Level 3 ...
| Level | Post | Spreasheet |
|---|---|---|
| 0 | Level 0 (100% Complete) | Link |
| 1 | Level 1 (100% Complete) | Link |
| 2 | Level 2 (100% Complete) | Link |
Spreadsheet Updates
The Level 1 Spreadsheet has been updated as 3 Shares that were reserved for Giveaways have been assigned from this contest and have become active...
| Share | Old | ➡ | New |
|---|---|---|---|
| 85 | Giveaway | ➡ | @thedarkhorse |
| 86 | Giveaway | ➡ | @woman-onthe-wing |
| 87 | Giveaway | ➡ | @simplymike |
A Full List of All Shareholders can be found here
Next Step:
From this point on the account can run until it reaches 744SP. Shares 88, 89 & 90 will be given aways in the Engagement League from @abh12345 the next 3 weeks as a way for the project to get some more exposure. I will also be making a weekly account progression post and plan to get as much Level 3 Shares reserved in advance as possible so once this opens up it can be handles in a matter of days. Thanks everyone for participating so far and making this upvote group possible. please let me know if there are any questions or if I made a mistake somewhere. The objective is to make this project as open and transparent as possible at any given time!
Great idea to venture into @abh12345's League to gain exposure!
Thanks for the transparency too ;)
Here is a hint, aim for the 7th spot (Lucky 7)
Ha! Got it @upvoteshares 😅
Do we already know how the 3 shares can be won via the engagement league?
The next 3 weeks, the 7th spot will each time get 1 share
Great initiative, @upvoteshares.
Just to make sure I get it: once level 3 opens, shares can be purchased as a sponsorship for others?
Not really, the upvote shares are bought as a way to basically support yourself in the longer run and come along with a minnow share that you have to sponsor to a minnow and will give them upvotes until the next level is reached. It is possible to sponsors someone an Upvote Share also if you want to though.
Sorry for being so slow in understanding, but that still sounds a bit like the SBI system - or am I completely missing the point here?
It is in many ways similar to SBI yes, but I try to fix some issues I have with the SBI model.
I really like the SBI sponsorship idea and what it brings to steemit along the fact that they adjust votes based on amount of posts, but purely based on the numers and the return (for as far as I understand them) it's a total scam (I don't say it's the intention to scam).
When sending Steem to SBI you pretty much lose that steem meaning you first have to get that full amount and more back before you actually start getting a return. The program also needs new money to come in constantly to feed the old members. Because of the dead weight of previous members is ever increasing, the return for new members always gets lower. There are a lot of shares that don't post daily or become inactive which makes SBI hold up for now also because the account does and insane amount of self upvoting. Just do the math and see where the money is coming from and where it goes to and you'll see that the SBI account is the big winner in the entire story. The moment new money stops coming in and everyone still demands their votes the entire model completely crumbles and few will actually have gotten their initial investment back.
Few people actually make these calculations and since SBI is rather cheap and convenient, steem is thrown at it like crazy it's unbelievable. (It really shows how many people are in need for some consistent upvotes on their posts)
Now what Upvote Shares does to solve the issues is to have a very fixed model that will be followed (see table) that works with Powered Up SP instead of leased SP. The Steem that is send is also not lost but can be sold back based on supply and demand. The amount of shares is limited based on the account growth so everyone who steps in gets the same starting deal while existing shareholders always see the value of their shares increase since SP is put on top every new level and all account earnings translate in increasing minimum upvotes. The upvotes themselves will not be that spectacular, but they are very much fair and scalable and sustainable in time. The minnowshares sponsorship come from a different account and are limited in time, this allows for sponsorships that are still worth a fair amount but don't come at the cost of the return from shareholders.
That is well thoughtthought-through...
last week I had a conversation with some people who had actually done the math concerning SBI - or at least part of it.
I absolutely suck at math and other technicalities, so I always depend on other people to figure those things out, lol.
One of the thoughts that came up during that conversation was that sbi, because of their voting strategy, was earning a huge amount in curation rewards. I don't exactly remember how they came to that conclusion - technicalities, you know, lol - but it made sense. In the end, we weren't even sure anymore whether getting sbi shares was in our own benefit. One of my friends even asked them to delete his name from their list and donate his shares to others.
Because of that conversation, what you are saying actually makes sense. The way you explain it, I get that it's like a pyramyd scheme: as long as new people buy in, there's money to pay everyone, but when this instream of new investors stops for some reason, there will be no money. Right, I get it - as long as they are leasing SP instead of building their own, they will need new money coming in on a regular base...