Free silver using blockchain innovation
My first step into the realm of #steemsilvergold
Everyone here sees or experiences the blockchain enriching lives. It increases our digital wealth and I've talked many times about leveraging it as a form of income. Thanks to @senstless I've just made my first accrual of a physical asset using digital currency. And thanks to @steembasicincome, it is going to be completely free in just a few months.
I first started talking with senstless a few weeks ago over a post he made on #steemsilvergold. What an active community they have there! His stackitus rubbed off on me (is that a dirty joke?) as he and I started talking. After a bit, he floated the idea of SBI shares in exchange for an ounce. Boy, was I thrilled at that idea!
It cost me about $24 in steem (6 steem for 6 shares in SBI). We figured that price by figuring the spot price of silver in steem, then rounded up and added one. Spot price was around 4.35 steem at the time. It's a hefty premium to have paid at a store I think, but it was paid for with steem earnings and will be repaid many times through SBI votes. I think I'm somewhere around 60 shares now. Wow.
This way he gets to try out SBI, my favorite app in this space, we BOTH get paid, and I get an ounce of silver (which I haven't bought in years). Since we both get paid, my cost will be completely refunded over time. He will get a continuous stream of SBD/SP in exchange for his silver, even more over time than if we had made a straight steem>silver trade. And i get silver! In essence, we've leveraged the power of the digital space to increase physical assets.
Imagine folks doing this across the globe. Save up a few Steem, buy precious metals. Save up some more steem, buy some fruit trees for your garden. Save up a whole lot, and maybe you'll find someone that'll sell you a house. Building wealth and increasing your quality of life. Using SBI would even mean you'd get that money back! If that's not relevant, I don't know what is. This is a great time to be alive.
Thanks @senstless! Awesome transaction and a great example of using the freedom of the blockchain to enrich lives. This is definitely something I'd be interested in doing again if you're down. Matter of fact, I've got about 12 steem laying around...
Stay relevant y'all
Nate
We have done a couple of trades, steem for our poured silver then we took the steem and turned it into bitcoin and bought more silver!! the SBI is a great idea!!! Very cool Thanks for sharing!
No problem! It's a great idea that I obviously think has some really awesome implications.
Hope it helps y'all out along the way. Are y'all actually a mining company? In Dixie?
Oh that would be fun but we hand make precious metal art, we like silver you can touch!
Awesome way to turn digital assets into physical currency. Great thinking @nateonsteemit and @senstless
I agree it was a great trade @nateonsteemit. I am excited to get my first shares of Steembasicincome and see how this all works out. Give me a little bit I will be down to do it again, just need time to plan out my replenish purchases!
I didn't mean to trigger binge buying lol
When my stack gets bigger, I'll be buying and selling these things all the time man. This is gonna be awesome!
If we can get more folks doing this, the whole ssg community will be running these types of transactions all the time. SP goes up, stacks go up, and we all live better lives!
I just bought eggs this way! We have some friends that were at the store and we offered to sponsor them for 2 shares of SBI if they would bring us a dozen eggs.
and now there are eggs in my fridge...
That's great! I'd love to see it as a form of barter. "Here's a bit of continual supplemental income in exchange for goods and services," instead of "here's some form of money in exchange for goods and services." I really dig it. Continual compounding returns.
Wife showed me how @gardenofeden will sell you seeds in exchange for steem, i thought that was a pretty cool thing. I think we'll see more and more of this. I find regardless of the value, perceived value, or future worth its all a great investment - the information and relationships to be built on steemit alone are gold.
I know, this is a great place!
Haven't been to GOE yet, but their page is awesome. They're about an hour away from us.
I do see that you are greating great upvotes from SBI! And while the Steem price continues to rise, the upvote will of course also increase in value. If I do the match correctly 100 posts are needed to recuperate the SBD investment.
So it was a great investment! Enjoy it while it lasts!
100 posts is about right. The cool idea I found about SBI is a cosponsorship. I found someone a while back and we each sponsored the other 15 shares, that way it is profitable in 50 votes. Good way to double your benefit.
I am sponsoring a competition in which I do sponsor the 25th place with an SBI share.
7 more weeks to go. So I will accumulate 7 more shares.
Besides that I am planning a world cup contest in which the contenders may choose in which they will get paid. SBI shares or Steem. So I do need to accumulate enough steem by mid July! After that I will stop investing in SBI because the shares will become more costly with the steem price increase!
But with the steem price jump, the upvote price will jump as well. That's why I'll probably keep investing.
Thats true but if you buy now it would be like a bargain!
Interested in swapping 2 shares?
Absolutely!
Done!