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RE: A collision of Steem Basic Income (SBI), Silver, and my raging Stackitus
The first physical product I've ever bought with crypto!
SBI was a perfect idea, you get steem income, I get silver, and it pays itself off, so in three months it's free silver!
I'm about to make a post about it too :)
Thats awesome but I don’t get how it’ll be paid off in three months..can you help me with that please
Yeah man. That's the @steembasicincome model. You buy a share for one steem each, and that gets you one daily upvote. More shares gets a bigger upvote, and they make the upvote in the amount to pay off the initial investment in 90 daily upvote payments.
When you buy the shares, you sponsor someone else, which gets them the same upvote as you. And you get that upvote for life, so it'll pay off again in 3 more months. Then again and again and again. It's a compounding system really. I think I'm up to like 52 shares now?
It's a little longer than 3 months, but you have the right idea! Although who knows, with STEEM on the uptrend again, maybe it will be even shorter than 3 months?
So if I send SBI a total of 5Steem that gets me 1daily upvote for 90 days and five shares of sbi till I trade it in?
Upvotes on all your future posts, not just daily and not just 90 days. But there is no 'trade in,' it's a subscription to receive upvotes.
I think I finally get it haha
It gets upvotes for life from SBI. Not just 90 days of upvotes. Once you have a share, you get a daily upvote always.
Because it was paid for with share of SBI..... Here is a good link. https://steemit.com/basicincome/@steembasicincome/steem-basic-income-a-complete-overview