Steem Basic Income

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.

Many of our members use the #steembasicincome tag for their contests, so check there for contests that we might not have resteemed!

Still Going Strong

We are up to seven pools, so your upvotes could come from @steembasicincome, @sbi2, @sbi3, @sbi4, @sbi5, @sbi6, or @sbi7. We currently have 2672 members that have posted within the last 28 days, and many more members that have not. Unfortunately, members that are not posting are not receiving upvotes. There are currently 16793 'shares' in the program, and it grows every day.

Support from Members

Thank you all for your support! Upvotes that we receive from members are an essential component to keep delivering a sustainable basic income!

img source: http://www.steemreports.com/top-voters/@steembasicincome

All members that upvote consistently are rewarded with a bonus increase in their voting weight. To get the best benefit, we recommend using @steemvoter or @steemauto.

We have updated the targeting so that members get full bonus if they upvote each update, even if we miss a few days. We have been using some of the fixed-return upvoting services again, and you can see their impact in the chart. It definitely helps boost long-term sustainability, as you can see in our 28-day SP rewards:

@steemsql DB, with visualization in Power BI

Self-voting Updates Resumed

Currently the average upvoting bonus is 34.58% but our weekly update income is only 19.23% of the amount that we pay out in upvotes each week. Since we miss our daily updates about 25% of the time, we can project that our weekly update income would be closer to 24.72% of our weekly upvotes handed out. Paying out more upvoting bonus than we earn from updates indicates that most members are gaining more from their upvote bonus than we are earning from their upvotes.

Our weekly sustainability goal is for the average upvoting bonus to be roughly 40%, and for our update income to be 40% of what we pay out in upvotes each week. Since the gap between upvote bonuses paid and update value received is about 10% weekly and a self-vote on regular updates would be 10% of total voting power.... the solution is pretty obvious to us.

Effective immediately (e.g. you will see it on this post) we will resume self-voting each update. This will have a temporary impact on voting power across our accounts, but it will make a huge impact on long-term sustainability. Since most programs on Steem charge a 15% management fee, we think that a 10% self-voting target on top of 5% management shares is still very reasonable.

Enrollment

If you want to get involved, or to increase the share of basic income that you receive, enrollment is very straightforward:

Just send 1 STEEM to @steembasicincome. Include the name of a Steemian to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 share in the program. You can sponsor any active Steemian, it does not have to be a current member.

If you're unclear, please check out our full transaction memo guidelines and then let us know if you have any questions.
https://steemit.com/basicincome/@steembasicincome/steem-basic-income-new-transaction-memo-guidelines

The official currency for enrollment is STEEM. We are not currently accepting SBD for enrollments. Enrollments are validated manually, and typically take 2-3 days to process.

Questions?

Please read our recently published FAQ. Most questions are addressed in our FAQ or in the additional resources that it suggests. If you still have questions, ask in the comments section or join us in our new discord server.

To review your share counts, we explain our tracking sheet here.