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.
Automation Release
It's taken us a long time to get here, and we've trimmed some features, but we are finally read for the initial release of our automated system!
Please allow 1-2 weeks for the new system and its vote values to stabilize.
What Is Included?
Enrollments are captured automatically and new members are added into our database. Delegations are captured automatically and added into our database. Curation rewards are captured automatically and bonuses for upvoting our posts/comments are captured automatically and added into our database. (Please see Vote Values in Steem Basic Income - Part Three: Where Are We Going? for more information about how upvote values and bonuses work.
What is Not Included?
There are some key systems that we decided are not critical to initial release. We will pick up development of those systems once any bugs from initial release are worked out. Redistribution of surplus value will be developed later. We are not sending automated confirmations (yet). Basically, any system that is not directly required for maintaining member levels and delivering upvotes was put on hold to prioritize the initial release.
What Should I Expect?
We have set all of our SteemAuto accounts to 99% to let the new system handle upvotes instead. If it fails to deliver votes, then account VP will reach 99% and Steemauto voting will resume automatically. There may be some pain in the adjustment process, with posts being missed or vote values coming in wildly different than you are accustomed to. Please allow 1-2 weeks for the new system and its vote values to stabilize.
We calculated the vote values that everyone should have received under the new system, and each account begins with an initial balance. While most of these balances are positive, about one third of members started with a negative balance. In most cases, this happens because the old system rewarded upvotes in a different way than the new system does.
You do not have to 'earn back' the negative balance to start receiving votes again. We know the large negative balances are because of our design change, and for these members it will be painful enough that your new equilibrium vote values will be lower than you had before. We will be zeroing out negative balances over the first few days. There may still be a short period where we monitor for stability before fully zeroing out the negative balances.
What About Lookup Tools?
I will be reworking the spreadsheet tools over the next few days to make available better information about your member balances and upvote values. Better tools and membership reporting are in our roadmap, but we are not prepared with a delivery date estimate at this time. (See Hofstadter's Law)
Frequently Asked Questions
We will be releasing a new FAQ with answers applicable to the new system as soon as possible. In the meantime, feel free to check in with us in our discord server.
this is awesome. Such a nice feature to have for SBI!
Thanks for your support!
Excellent news! I'll publish a post today to see what happens!
There may be a little disruption for the first couple of days as we let things stabilize before zeroing out the negative balances. If you post before we zero your negative balance, it will not get a vote.
Understood! @ecoinstante posted and got a vote, looks like she was not negative :)
Okay, good!
Hey,
You have been upvoting my posts up until 5 days ago and then I get no votes from you or another sbi ...
It will take a few days for our new automated system to reach equilibrium.
I have sponsored three people so far. Is our income affected by the number of people we sponsor?
Each time you sponsor, it increases your level and their level.
For example, when you send 1 STEEM, they get 1 and you also get 1 more. I currently have you at 9.
Thanks, man. I have sponsored 3 people so far.
Hi @clayrawlings,
Good sir,
You always try to help others. keep up the good work. All the best.
Thanks.
Waiting for you book and video launch.
Video is almost done. I showed the rough cut to a Hollywood screen writer last night at a party in LA and wound up on a balcony trying out for a part in a major motion picture. Never expected that. Life can take some crazy turns if you are open to new things.
Great to know that sir. you are rocking. Your hard work now showing results I guess.
All the best.
And sir I required small help from you. If you allow me to ask.
Thanks
thank you for the update it is good to see you are still hard at work on this. SBI should just get better and better.
Thanks for the support. We hope that it will get better and better, although we know that not every change will be received positively by everyone.
Very excited for SBI and what this will do going forward. But also want to say thank you for all the countless hours you would spend manually processing everything.
Thank you for your support!
Good Luck!
I think its awesome. I was waiting for the automation. Thank You!
You're welcome! It catches up all the pending enrollments automatically, but I will need to send out welcome messages to a few people still.
Hello @steembasicincome :)
For my post https://steemit.com/cryptocurrency/@retinox/chart-steem-13 there was no voting at all from SBI.
Since there are already 3 upvotes missed for
https://steemit.com/life/@retinox/upvote-game-c-round-19-receive-3-sbi-shares-worth-3-steem-your-lifetime-upvotes-traduccion-espanol-incluido, https://steemit.com/steembasicincome/@retinox/upvote-game-c-round-20-receive-3-sbi-shares-worth-3-steem-your-lifetime-upvotes-traduccion-espanol-incluido and https://steemit.com/trading/@retinox/chart-apple
a longer time ago, maybe the current one can be fetched...
Thank you and I keep my fingers crossed for the new system 🍀
that's ridiculous... so many shares and no upvotes any more... so you start from a negative balance of shares now... that's crazy 😔 Hope the best for your account... @peekbit
Due to the changes in how upvotes on SBI are rewarded, many members started with a 'negative' balance. We left those in place initially to see how the new system impacted VP. Since things appear to be stable, we are now reducing/removing those negative balances so that all members should start seeing upvotes by the end of today.
Hello @steembasicincome, @sbi2
Can I offer the SBI Upvote Game and calculate with the SBI upvote or is it the same situation for me and I don't receive an SBI upvote for the next time? 😔
So far there have been only 2 posts without votes due to another issue. So it would be nice to know it in advance this time... 😥
We did announce at release on Friday morning and predicted some turbulence. Things will return to the new normal within a couple of days. We apologize for any issues this may have caused your contest.
I'll keep my fingers crossed ☺️
Thanks for all the time and work you put into this project! I hope that all of us have the patience to wait till everything works - after all it's the time of the year to give and not to demand :)
Thanks for your support! And now I can actually spend Christmas with my family instead of catching up enrollments.
Good work guys! I’m sure the amount of resources for this project were large and I know I look forward to future developments.
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Thanks for your support! We've been as lean as possible during crypto-winter, which is why it took so long. Now we're streamlining to try to get the next improvements out a little faster...
Awesome job, guys! I can't wait to see how the new system works! It sounds very cool!
I'd like to invite you to participate in my Art Curation Initiative #5
Expect a little time for things to stabilize. Once things settle down, we will start publishing more resources to help everyone understand how the change affect them and what you can do to optimize your results for how you use Steem.
So nice to see this persisting beyond just an experiment even though you still refer to it as such. Great work on the automation and becoming a solid part of the blockchain and experience of so many users.
Looking forward to more innovation and value.
Well, it's still an experiment until we prove that it can scale to the point of actually providing a basic income to people.
That means we need some STEEM recovery, but we will keep doing what we can until that happens.
Well... If the spreadsheet is right right now (and maybe that's going to change) for $500 worth of steem (at current prices) I get $5/week worth of upvotes...
That would mean that for a mere $50,000 worth of steem (which would certainly mean truly believing in the future of Steem, granted) I'd even at today's prices get $500/week which is plenty to live on even living in urban America. So... As long as things don't get worse (and we can feel SURE about that) it seems like feasible. We'll see, though! I sure hope Steem doesn't die a horrible death.
Until we have more data about whether the changes encourage enough big supporting upvotes and delegations we will need to maintain the per-member soft cap at 5% of total units.
That is listed on the Summary tab as Mgmt Bonus Units, which are also 5% of total units. Right now that's a limit of 4400, which would only be $1000.
It is fine to hold at the soft cap and then delegate for bonus units, though.
I don't think STEEM will die a horrible death, because there are a lot of dapps developing for it. There are concerns about the scalability and the costs of running a full node, so I guess we will see how the new initiatives on that front turn out.
Also now that everything is calculated in rshares, it will respond automatically to changes in reward pool dynamics. As the percentage of total SP that is voted grows (and as our percentage of the total grows), we expect the ROI to gradually slide until it aligns closely to the STEEM inflation rate. Granted, that will probably be many years and would be driven by big increases in the STEEM price, so you'll still be pretty happy...
Exactly. It's a good way to have consistent income for a while. The problem, of course, will be that buying in for new users when steem costs more will be harder, and will therefore make it harder for the most vulnerable to acquire an income. But, that's why the system encourages generosity, especially once one has personal stability.
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Follow up, when you upvote these comments, are those values being drawn from our pools, or are they, essentially, a bonus?
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This is a very good question, and I started watching this closely a couple of days ago. The value is being drawn from the pools, but I want it to be a bonus. So... I powered up this 11th account to deliver the upvotes on comments. It is not included in the tracking list for removing rshares from comments, but should still be included in the tracking for rshares on upvotes. I will be doing more testing around it, of course. If I need to I will upvote from this account and then comment from a pool account but obviously that's not my preference.
SBI booster has dustsweeper, too, right?
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Oh! Another question! Is the value in the spreadsheet expressed in STU or USD?
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Expressed in STU. They're supposed to be the same thing, but of course we all know they aren't really.
Great news! It’s been a long time! Well done team!
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Yes, much longer than expected. That's why we put the Hofstadter's Law picture in the announcement ;)
Kudos! That's a huge step... I can't imagine the amount of time you had to pour into maintaining all the steemauto rulesets with the user-data.
Good Stuff! Congrats!
We will still maintain those as a backup for a little while, but will not keep them nearly as current as we were before.
This sounds so amazing!
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!sbi status
Hi @josephsavage!
Sounds good. Is the spreadsheet accurate with what our expected upvotes should be? If I'm not seeing any upvotes ATM, should I assume I have a negative balance that will be zeroed out over the next few days?
Edit:
Hmmm. I can't imagine, though, that @stinawog wouldn't receive any upvotes. She's been missing out on value for weeks. Maybe. Maybe. Looking forward to a few days to weeks from now so we can evaluate!
Most negative balances are because of the changes to how upvotes on SBI accounts are rewarded. I will be zeroing the negative balances over the next couple of days, and I have made some cuts to how severe the biggest negatives are already.
You will start seeing upvotes after your balances are zeroed and then go positive.
Right, and that's what I expected for myself. But I'm surprised that my wife, @stinawog, would have a negative balance, since she's posted so infrequently. Less than 1/week. But I suppose she may have since her upvotes were sizeable when she DID post.
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Hey @steembasicincome really excited about the new automation. Wondering though,. I have not received an upvote from you guys today at all. Where I did get one on my previous post.. can you please look into that?
Simpel, your balance is negative, like mine. So no upvotes for us, but @steembasicincome already stated that they will nullify negative balances in a couple of days. After that, we have to get used to the lower vote value we will receive. The negative balance only occured, because we earned more under the old system than under the new system.
Also:
All the negative balances have been zeroed out, and all members are starting to accrue positive balances. There is actually a catch-up provision in the new system, so you may start seeing some token upvotes on the posts that were missed. Those will come in as soon as your balance is high enough to deliver an upvote above our minimum. That initial upvote is not representative of your actual expected value, as your balance will continue to grow until you've reached 5 or 6 posts at your regular posting frequency. At that point it should reach equilibrium for you. How long that takes will depend on your posting frequency.
Okay thank you for responding :)
I published without knowing that the system was in maintenance. I did not receive a negative vote, but it was far below what I was receiving before. I was stunned for a few seconds. I ran to the spreadsheets and did not show me anything. Then I ran to Discord. Uff that relief! It was not a problem with my SBI 😀😀😀
We apologize for any confusion. The first few votes will seem artificially low for members that earned more under the old system than they will under the new one.
The base value per unit has not changed, but we did change the upvote rewards (bonuses) in a way that makes the whole program much more sustainable that it was with the old rewards.
Thank you for all the efforts the team have put in. Hope it can back to normal soon, i think i am one of the -ve value 😂 because my 2 posts (yesterday and today) didn't receive any upvote from sbi9.
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We have zeroed the negative balance and you should be accruing a positive balance now. You may see some small token catch up votes on those posts, but don't panic about the small size. Your balance will continue accruing and reach an equilibrium voting value within a few days.
Thank you very much.
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I'm also looking forward to a tool that will tell me my balance. 800 mrshares ~how much steem currently? I imagine it's 0.001? So that times the number of shares I have should be about how much I get from SBI/day, but I started at zero, so it'll be charging up to that point over the course of the next several days, as I draw down 20% of the current balance per post, but it'll be going up at a fixed rate...
Ok. I think I understand.
It sounds like you do.
I will be updating the new AutoDB tab in the old master spreadsheet every day, and it will show your balances at that time. (though rshares are probably a little different than you're used to thinking about things)
The summary shows the last time that sheet was updated.
I no longer receive a vote, how do I know if my balance is negative?
I have not received votes on my last 2 posts aswell. @steembasicincome How do we check our balances?
The master sheet has been updated to include an AutoDB tab that is updated once daily and shows your current balances at time of update. The update time is shown on the Summary tab. You can see your estimated weekly value on the SBI Lookup Tool, but it does not include your new upvoting bonuses yet.
Thanks for that ☺
They probably were negative. We have since zeroed all negative balances and members are starting to accrue positive balances. You may see some token catch-up votes on the missed posts, and your value will grow to the new normal amount over the next few days.
Excellent news, looks like we all will have a Merry Christmas. 🙏
SBI has 3700 active members... If everybody buys $10USD of STEEM, powers up half and uses the other half to sponsor somebody for SBI; it would be more than 10% of the daily volume in STEEM and could check the slide enough to start attracting the volume followers in to drive up the price.
Then we would really all have a Merry Christmas!
Ok, I will!
I'm assuming you wrote the blocktrades memo? It would be weird if they put that on all their transfers, but we wouldn't mind terribly...
Lol. Yes. When you buy through @blocktrades you can have the memo say whatever.
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Great job @improv you're awesome. 👍👍
Hi @steembasicincome!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 5.594 which ranks you at #502 across all Steem accounts.
Your rank has improved 3 places in the last three days (old rank 505).
In our last Algorithmic Curation Round, consisting of 205 contributions, your post is ranked at #17.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
What does it take to break into the top 500?
Wonderful news❗ Congratulations❗ I and the #ccc community is solidly following ya❗
All the best❗
Thanks for your support! Maybe now that I have so much more free time I can actually figure out what your community is about ;)
Hi!
This is the community account of #ccc and the following members all have a weekly contest that gives SBI shares as prizes -
Tuesday - @gmatthe2
Wednesday - @freedomshift
Thursday - @marblely
Friday - @oliviackl
We are small but growing and supporting SBI weekly.
Thanks for your support! I have seen some of those contests. Now that I'm not processing everything manually, I will spend more time catching up on everything our members are doing. It does sound like you will be good candidates for our Community Support Initiative when we release it next year.
Glad you finally got it running :D
The amount of work you put in this makes me confident that Steem Basic Income is a safe investment that can be trusted to be active for a very long time!
Thanks for your dedication.
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We keep sustainability in mind with every single decision we make.
Great! Looking forward to seeing the changes come through! I expect to make some more sponsorships today as part of my post! Getting more to participate!
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The good news is those sponsorships will be processed automatically now (no more 7+ days delay), though I will still need to send manual welcome messages to new members for a little longer.
Great work, and glad you will be able to enjoy some family time over the holiday season.
Are there any future plans to send notifications whenever someone's share holdings changes? For example if someone sponsors me with a share, but doesn't tell me?
Or possibly a balance call option? Send a keyword in a transfer of 0.001 Steem and get a memo back on a 0.001 transfer telling me how many shares I'm holding?
We are working on a balance call option now that would work similar to !tipu. Automated notifications on every enrollment increase are also part of our roadmap. They were in the original blueprint for our initial release, but we cut everything non-critical to core systems.
I appreciate your prioritizing!
Thanks for understanding. The negative balances at start have made things a little rocky for us this last two days, but I still think that launching with negatives to monitor the VP and then zeroing the next day was the right call.
Dear @steembasicincome.
I hope all is well?
My last two posts (@snowyknight) have not recieved upvotes although I have been a member of #steembasicincome for awhile now.
Should I expect these to obtain upvotes as usual or has something changed?
Thanks
You legitimately are asking if something changed on a post describing changes?
yes... sorry, just trying to understand!
Thank you though! Happy holidays! :)
It's sort of like when your account had to rebuild VP after #hf20, except that we only zeroed the accounts that transitioned with a 'negative' balance. Things will start to normalize soon.
Ok cool and understood! Thanks!
ps. @steembasicincome:
https://steemit.com/mountainmonday/@snowyknight/mountain-monday-which-way-was-that-mountain-again
Thanks!
Nice work, Joseph 💯💪🏻
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Thanks! It definitely has been longer than I thought, since I thought we were almost there in April.
This story was recommended by Steeve to its users and upvoted by one or more of them.
Check @steeveapp to learn more about Steeve, an AI-powered Steem interface.
Great work and developments, keep them coming
!sbi status
Hi @tattoodjay!
Thank you for your support!
Most welcome
Hi, I am trying to understand how you get into the SBI community, I have read the post, but I am unsure of what "members joins by sponsoring others into the program" is there a more comprehensive FAQ somewhere where I could educate myself on how to be a member of the community, please?
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There is a more comprehensive FAQ that the banner at the bottom links to. We are working on a new FAQ that more accurately covers how the program works after this 1.0 release, but the enrollment process is the same.
Send 1 (or more) STEEM to @steembasicincome, with the name of somebody you want to support. You and they will both be enrolled for 1 SBI unit per STEEM.
https://steemworld.org/block/28700770/e693dcd9d74f711f75a6174cc340cdb21f7479f4
It should be the right way, right? is there a way to verify that we did things properly, a website / a discord?
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Thanks for chatting with us on Discord! We usually check comments on Steem only twice a day, but we're in Discord a lot more.
Thank you very much for taking the time to answer me. I will do that :)
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Great i would like to test this
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Congratulations @steembasicincome!
Your post was mentioned in the Steem Hit Parade in the following category:
Do we get a prize?
It would be pretty hilarious if they offered you a prize of SBI.
That would indeed be pretty hilarious. We have had people sponsor @steembasicincome before... that's a bit recursive, and we just assign the shares to somebody, just like we do when people try to sponsor themselves or leave it blank and don't sponsor anybody.
!sbi status
Hi @tcpolymath!