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.

Still Going Strong

We are up to six pools, so your upvotes could come from @steembasicincome, @sbi2, @sbi3, @sbi4, @sbi5, or @sbi6. We currently have 1863 members that have posted within the last 28 days, and almost 500 members that have not. Unfortunately the members that are not posting are not receiving upvotes. There are currently 9608 'shares' in the program, and it grows every day.

Pool 1 accounts voted

There has been a spike in inactivity in the last few weeks. Managing voting power around inactive members is an ongoing challenge. The portion of inactive members has grown to 30%. Some of these actively comment, but not post, so they will start receiving upvotes when we finish our automation project.

We try to redistribute the excess voting power that should go to the inactive members to active members, so that it is not wasted. With so many inactive members, we have only been able to upvote 409 of the members in pool 1! We also see @katysavage show up in the voting record. @josephsavage doesn't post frequently enough to get value from his management shares, so most of them are temporarily assigned to @katysavage until the automation project is finished.

img source: http://www.steemreports.com/outgoing-votes-info/?account=steembasicincome&days=7

Last week we had a 2.9% self-vote, which means most of our voting power has been going to our members. We do have our own updates on auto-vote, so this will move back up toward 10% as we re-establish consistency in our updates schedule.

Pool 2 accounts voted

Pool 2 upvotes come from @sbi2!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi2&days=7

We have made great progress in shifting inactives out of pool 2, and only 30% of the members in pool 2 are still inactive. With better management of our voting power, we have also reduced the need to self-vote on comments, and pool 2 has only 3.3% of voting weight going to @steembasicincome.

Pool 3 accounts voted

Pool 3 upvotes come from @sbi3!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi3&days=7

Many of the inactives from pool 2 have been shifted into pool 3, leaving it with a nearly 40% inactivity rate. We will shift more inactives into pool 4 in the coming week to start balancing pool 3 down toward 30% like pools 1 and 2. The self-vote percentage in pool 3 has been decreased to 3% and we see a new name appear in the chart. @tcpolymath is a newer Steemian that has seen the great potential of Steem and made some significant investments. We are happy to have his support!

Pool 4 accounts voted

Pool 4 upvotes come from @sbi4!)

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi4&days=7

Pool 4 only recently filled to 500, so calculating inactives the same weight makes it look like 40%. According to my tracking, it's actually only 33%. As we will be moving inactives down into pool 4 (and it will take longer to fully rebalance pool 4 back to 33%, I would expect the inactive rate in pool 4 to climb toward 40% this week before falling again. Time will tell!

Pool 5 accounts voted

Pool 5 upvotes come from @sbi5!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi5&days=7
We really start to see @dynamicrypto and @dynamicgreentk in action as we get down to pool 5. Each member is capped at 100 shares per pool, so these guys try to reach that cap every time a new pool is launched. Pool 5 is growing quickly, with the number voted rising from 99 members in the last update to 263 in this one. As it continues to grow, the slice received by any individual member will reduce. The caps of 500 members per pool and 100 shares in each pool per member help create equality in the SBI upvote distribution over time!

Pool 6 accounts voted

Pool 6 upvotes come from @sbi6!

img source: http://www.steemreports.com/outgoing-votes-info/?account=sbi6&days=7

We launched pool 6 this month to give a place for members that post so frequently that even pool 5 would have them paused. There are a couple bigger members, but since it mostly has members with few shares and high posting frequency, the distribution chart is more even.

Once full automation is in place, we will no longer be dependent on @steemvoter services. We can have it skip posts that would have an upvote that is too low to commit to the blockchain, and save the voting power for their next post. Really active members won't have upvotes on every post anymore, but they will still have the same weekly returns, without having to sequester them in their own pool.

That will also mean that we won't have to open new pools until the bottom pool starts actually getting full! That's going to be a positive development as well. We will continue to provide more information about the program changes as we get close to full automation.

Conclusion

Last time I posted these charts, we had high self-voting percentages. I acknowledged that they would be a concern to some members, and asked for a little time to deal with the situation appropriately. We made some adjustments to the voting weight distribution and continued to rebalance inactive members across pools.

I appreciate the confidence placed in me by most of our members, as manually rebalancing voting weights is extremely time intensive. Full automation will resolve most of these issues, and it looms on the horizon! I think most of you will agree that it was worth being patient, since we have removed the need for extra self-votes on comments and brought the self-vote percentage for each pool below our maximum self-vote target of 10%.

Enrollment

If you want to get involved, or to increase the share of basic income that you receive, enrollment is pretty 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 accept SBD at our discretion (usually when they're very close, or when SBD is stronger) but you do not receive extra value or any partial refund for paying in SBD instead of STEEM. If we choose to accept an SBD enrollment, we accept the entire amount. If we choose to reject it, we refund the entire amount and request you to send STEEM instead.

Steem Creators Conference

We had a great experience last weekend at the #steemcreators conference! Check out the tag for footage and photographs from all the presenters and attendees, and see how many photos you can spot @josephsavage in!

Here is @josephsavage's presentation on Steem Basic Income, cross-posted from his dtube page.

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EarthNation

Steem Basic Income has been developed in collaboration with @earthnation. We are grateful for their early support, both in brainstorming ideas for improvement and in providing funding for our massively complex automation requirements. Learn more about Earth Nation on their web page at https://earthnation.world/

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 discord channel.