A collision of Steem Basic Income (SBI), Silver, and my raging Stackitus
Well, after seeing many posts about Steem Basic Income - I admit I was intrigued with the idea. While I wanted to jump on aboard, I am usually pretty light on Steem/SBD. I know several that I follow are buying shares each week, and rolling the income into more shares.
On the silver side, all my posts finally broke @nateonsteemit, and caused his stackitus that was in remission to flare up and we started talked a trade... Silver for SBD/Steem. Negations were slow until we floated the idea of shipping a ounce of silver for shares of SBI, since you need to nominate someone as part of the process it gave us that elusive, win/win/win scenario.
The Deal
One ounce - shipped for 6 shares of SBI. Pretty good for all involved. Here is whats going out in the mail.
Revenge of Stackitus
This is where things started to go sideways, and fast. I mean I haven't even shipped this thing yet, and as soon as I get to work, I am nearly having a panic attack with my silver stack shrinking. This is not something I deal with very well, I might need therapy to part with silver.
I made it to lunch - somehow. I ran to my car, and raced to the LCS hoping he had stock. Luckily he had the goods, it was just down to budget/price/and quality. He a slew of 10oz bars, an older A-Mark, JM and some generics but I still have a few silver at spot deals so I left them sit. Then I noticed 5, perfect, 1984 & 1985 prospectors, look brand new. I must have been too giddy, and he quoted them with a $4 premium. Had to let them sit at that price. I did manage to score a Sunshine Bar and a Silver Trade Unit round much much better premiums.
Why I love Sunshine Mint products.
Besides clean simple designs, I hate counterfeits, and Sunshine Minting is one of the best of making it hard to copy their bars. The include a MintMark SI security feature in their products that make it very hard to copy. All you need is a Sunshine Minting Decoder Lens, its like being a little kid all over again.
You just spin the bar until you see the word valid appear in the mark.
Spin another 90 degrees and you get the sun.
The Stackitus at bay it was time to go back to work and get this ounce shipped off!
Keep stacking!
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
Those are some nice pieces you picked up! I did not know about the security feature, so that is good to know.
Thanks! My first buy was Sunshine because it got me over the fear of fakes from China - so far its too expensive to fake the spot.
You just planted 0.44 tree(s)!
Thanks to @nateonsteemit
We have planted already 7259.56 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 = 22143.46
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
This thing is added to my EDC. At least for a bit.