No sir, it's basically a pledge that is paid to Hive account@steembasicincome on your behalf. So you now have one share. Periodically your posts will get payouts from the program, but it will happen indefinitely. When you nominate others into the program, you also get a share for every share they receive. You just send steem to Hive account@steembasicincome with who you are pledging to in the memo field, as in the screenshot.