To buy a part of steem island all you have to do is transfer the amount of steem you want to contribute to the steemislandinc account (@steemislandinc). All the Steem collected in this account will be held in steem power so that all contributors can keep an eye on it. The price at this point is one steem per share. After we collect at least 1000 steem I will form a corporation named steem island inc. and I will make a post with all the legal information so that it will be stored in the Blockchain.
The Corporation will be owned by all the people who put in steem. The first people who contribute before the total contribution reaches 1000 will be the officers of the corporation and I will be the CEO. So the person who puts in the thousandth Steem will officially close the officer selection round. We will all have an equal amount of say. The only additional power I will have over all the officers is to break a tie in the event that a tie happens when voting. Although all the officers will have equal say, the value of each officers holdings will still be based on the amount of shares they own. Again, during the first round, which will be called the officer selection round, shares will be based on 1 steem = 1 share.
The next round of funding, which we will call "round two", will be based on a contribution of two steem per share. So in order to contribute in round two, the minimum contribution will be 2 Steem which will be equivalent to one share. To be sure, in round two, shares will be base on 2 Steem = 1 share. The second round will close at 10,000 steem. So the person that puts in the 10,000th steem will officially close round two.
The next round of funding, which will be called "round three", will be based on a contribution of three steem per share. So in order to contribute in round three, the minimum contribution will be 3 steem, which will be equivalent to one share. To be sure, in round three, shares will be base on 3 steem = 1 share. The third round will close at 25,000 steem. So the person that puts in the 25,000th steem will officially close round three.
There will be one final round of funding which will be called "round four". The guidelines for round 4 funding will be published by the officers of Steem Island Inc. at the close of round three funding. The price per share in round four will be a minimum of four steem per share. To be sure, shares in round 4 will be based on AT LEAST 4 STEEM = 1 share.
All the steem held in the Steem Island account "in trust" for Steem Island Inc. and for everyone who has contributed the steem. If for some reason this does not work out in one year's time period, then everyone will be returned 100% of their contribution.
After round 4 is completed, we have enough steem in the account to buy an island, which will already have been chosen by the officers.
If and when the account becomes overfunded the last people putting in the steem that created the overfunding Will be refunded.
So let's see how round 1 goes!!!
FULL STEEM AHEAD!!!
CURRENT CONTRIBUTIONS:
40 @riosparada
1 @louiscpt
5 @swolesome
2 @elleselephant
1 @wakeupsheeps
1 @rishi556
6 @rickyjrios
8 @platonicsironic
16 @nikant
21 @missiontothemoon
1 @barrydutton
5 @rigaronib
77 @riosparada (steemstock contribution - steemstock is now owned by US!!!)
1 @papa-pepper
1 @vegansilverstack
300 @broncnutz
103 @oldtimer
6 @dzboston33
1 @bigt
1 @almvide
1 @doctorcrypto
3 @monkimo
10 @pbock
1 @ura-soul
1 @coincravings
2 @elyaque
5 @uruiamme
50 @anotherjoe
2 @blackvapor
25 @inphiknit
10 @pbock
100 @robert-call
1 @transhuman
12 @girlwithavoice
1 @donnaincancun
15 @aliciaonline.now
10 @realcodysimon
1 @mirthilweed
64 @biglipsmama
10 @stackin
2 @lydon.sipe
1 @grizzman
101 @solarguy
1 @elementm
ROUND ONE IS NOW CLOSED!
P.S. Steemstock will be wholly owned by Steem Island Inc. so congratulations to the first contributors you now on part of Steemstock!!!!
Here is another option to add to the list:
NOTICES:
Please do not send Steem to the @steemislandinc account directly from Blocktrades or any other exchange. Send it to your account first and then send the steem from your steemit account to avoid any confusion and to memorialize the transaction.
To all current members of Steem Island Inc. If youou want it if you create your own post please paste the link in the comments on this post so I can resteem from the Steem Island Inc. account. Make sure to include a link to this post in your own post. Also, all current members please send an email to steemstock@gmail if you have not already done so. Please resteem this post to help spread the word. !!y
Splendid, I can taste the Pina colada on the beach already...
Me too!🍸
Wow. A Steem Island. This sort of creativity and imagination is what makes Steemit special. Perhaps I will visit this island one day!
Almost 3 dozen people on a 1 acre island?
That thing is gonna tip over!
We are shooting for the 110 acre island. That is just one of the cheaper ones. It depends on how funding goes 😊
Well, hopefully $36,000 of STEEM works out to USD$10,000,000 or you'll end up with an island in some cold water lake.
36,000?
1000 STEEM for 1st round
10,000 STEEM for 2nd round
15,000 STEEM for 3rd round
I didn't count the 4th round, since it wasn't specified what amount that would be.
You didn't even read round two or three right. Fail
You are correct. My eyes glazed over.
1000 STEEM for 1st round
20,000 = 10,000 * 2 STEEM for 2nd round
45,000 = 15,000 * 3 STEEM for 3rd round
66,000 STEEM...well, that's so much closer to the tens of millions needed to buy a 110 acre island in a tropical location. My bad.
I'm not sure what that means, but to be clear, I could buy the island myself if I wanted to so I don't have to hope for anything. I just decide if I'm going to do something or not. "Hope" just sets up for disappointment.
upvoted and resteemed :)
Awesome! THANK YOU!!!
This is really interesting, did we scrap through?
https://steemit.com/steemislandinc/@missiontothemoon/update-steem-island-is-178-shares-from-completing-phase-i
What a hilarious idea! Hope you'll do your part to conserve it and not make it a trash island =)
That's actually one of my ideas -all eco friendly! FULL STEEM AHEAD!!!!
Well I sent all the steem I have with was just shy of 1STEEM! 0.998 More hope im still considered in the first 1000 steem contributors even if it means in on a lower percentage. It's a good idea. Lets see how it plays out! STEEM ON! 😉
Of course!!! Added you to the list!!
When I did an audit on Phase 1 funding for Steem Island, I found that you did not follow the rules and you should therefore not be an officer and your Steem should be returned. 😟
Oh ok. I only had 0.998 Steem. I wasn't sure uf you would accept it and make an exception. I was hoping so as i'd love to be in the first round of officers. I absolutely love the idea of Steem Island.
Im sorry what rule are you referring to? Did i misread something?
Omg I forgot to re-steem it! 😱😫 nooooooooo! Im such an idiot! 🙈😟
No, you were 0.002 steem short. The rules said there was a minimum of 1 steem investment.
Read my audit: https://steemit.com/steemislandinc/@uruiamme/audit-1-of-steemislandinc-steem-island-disputed-list-of-officers-and-bean-counting
Ok not a problem. Pease return my steem. Thanks. Hopefully i can get in on round 2.
can i send sbd or its just steem that is accepted.
You can send SBD just try to make it as close as possible to an rounded number amount of steem
No, you cannot send SBD when the rules specify Steem!