Reviewing the Heart of Sustainability
Reviewing the Heart of Sustainability
We have been enjoying our series, Into the Heart of Sustainability, and we hope you have too. Reviewing what makes us sustainable is about more than just making us feel good. The better we all understand the inner workings of Steem, the less likely any of us is to get fooled by a different scheme offering out-sized returns.
As we go through the numbers, you can see how close we run to the margin. Steem Basic Income walks a fine line of sustainability, value-add and social responsibility. If another program offers higher returns, we must ask - where are those returns coming from?
Many upvoting services take value from subscribers that do not post everyday and give it to those that do. @steembasicincome allows your pending upvote balance to accumulate in times of lessened activity, and then allows you to 'draw down' that balance in times of increased activity - eventually receiving your full subscription value. By reviewing what is possible with SBI, we can all become savvier Steemians.
Do You Know what Steem Basic Income is?
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.
Sustainability Coverage
Remember that we break down all of our income sources, which include curation and author rewards, and compare to the marginal cost of the SP we are currently leasing. We add these numbers to the percentage of native SP we have, to get our sustainability coverage metric.
We have been including in our daily update posts our Sustainability Coverage, which we use to adjust the rshares accumulation earned from units. Rshares accumulation daily will be the votable rshares of 2 SP (currently 800M), but multiplied by our sustainability coverage number whenever it is below 1. Currently that means that each unit accumultates (800M * 90.31%) = ~722M rshares per day.
Voting
An important part of our sustainability coverage is Author Rewards. These come in multiple 'flavors' such as SP, SBD and sometimes even liquid STEEM. This is one of the reasons we incentivize voting through rewarding upvotes with increased rshares accumulation. These additional rshares are added to your balance, and the multipliers we use are explained in this post.
Delegation
Delegation helps increase our sustainability by reducing the amount of SP that we need to lease. Again, like with our upvoting rewards, a large benefit is returned to the delegators, which hopefully leads to increased delegation and decreased weekly costs for leasing Steem Power.
We give delegators bonus units, which accumulate additional rshares based on our exceptionally high curation numbers.
If you wish to support this program and help us to become more sustainable, consider delegating to @steembasicincome.
Here are some Handy Delegation links:
| 2 | 20 | 100 | 200 | 300 | 400 | 500 |
We want to thank each and every one of our members for taking this journey with us! We have made great progress, but in some ways we are only just getting started.
Writer Bio
This Sustainability report was prepared for us by @ecoinstant.
From a young age, @ecoinstant continues to be very interested in the mechanisms of sustainability, and loves being a part of several teams working on promising projects, including the marvelous Steem Basic Income!
Questions?
Please read our FAQ. If you still have questions, ask in the comments section or join us in our discord channel.
You can look up your current membership levels by using !sbi status in a comment or post, or by using our newly modified member lookup tool.
#justdelegatedonethousandtosteembasicincome
Hilarious, love it! I had to read the hashtag a few times, though. I'm so used to there being spaces between my words.
!sbi status
Hi @sparkesy43!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
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STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Of course I would never leave you, but you're saying, for a user like me who posts every day without fail, there's a more profitable program?
Posted using Partiko Android
If you're posting every day, you should also be using @qurator for sure and maybe some others. In fact we are members of @qurator, and they are members of Steem Basic Income.
I can't make any other recommendations because most voting services are badly designed and last only a few months, so the landscape keeps changing. It's not a priority to analyze every single copycat to establish an estimate of how long they will survive.
This was not a question I expected! Technically there could be short term options that would be viable for you (there were a lot more in the heydays). In my experience you have to wait until the end of the month to figure out if you made or lost with many of these upvote services, and generally each one does not have much of a life span.
!sbi status
Hi @scilwa!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @alaysiababin!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @aaronkroeblinger!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Posted using Partiko iOS
Hi @cst90!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Hi @grizzabella!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.
!sbi status
Posted using Partiko Android
Hi @gregan!
Structure of your total SBI vote value:
A pending upvote balance is tracked for you in our database. Each time you post, your balance is drawn down by up to 20%. If you post again before that amount is replenished, your next upvote will be smaller. Our minimum upvote for posts is $0.012. Your balance accumulates until a minimum upvote can be delivered with 20% of your pending balance.