Alternate title =

💡 jabi... The gift that keeps on giving... Steem Basic Income

What is 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.

Image is SBI Logo

What is jabi?

jabi
= Just Another Bright Idea
= pronounced jab eye

How to signup

Just send 1 STEEM to Hive account@steembasicincome.
Include the name of a Steemian to sponsor in the transaction memo.
You and the person you sponsor will each receive 1 share in the program.

WizNOTE: Send STEEM
NOT SBD

How to magically change SBD to STEEM

If you get stuck, try saying Abracadabra

• If you have SBD and need STEEM
  • Go to your wallet.
• Click the down carat by your SBD
  • This opens a small popup.
• Click on Sell
  • This opens a new tab for BlockTrades
    • On the left you will see Send and it is set to SBD
    • On the right you will see Receive and it is set to Ether
• Click where it says Ether
  • This opens a popup.
    • Click on Steem
• In the right box to the left of STEEM
  • highlight whatever is there and enter 1.0
    • The amount of SBD you will need to sell shows up in the left box.
• In the box that says "Steem account name"
  • Enter your name without the @
    • Your icon should show up on the left
• Click the "Get Deposit Address" button
  • This opens up a new box in place of the button
    • Click on the input box to the left of the "Transfer using SteemConnect" button.
• Enter your name without the @
  • A new box opens below this showing your SBD total from your account.
    • Red color = you don't have enough SBD
    • Green color = you have enough SBD and it shows your SBD balance
• Click the "Transfer using SteemConnect" button.
  • This opens up the SteemConnect dialog box
• Enter your name and Posting key when it asks for it.
  • Once it says it has transferred go back to your wallet.
    • Hit reload and you should see 1.000 steem
      and your SBD will be smaller by however much you just spent.

Signing up for Steem Basic Income

Go to your wallet.

• Click the down carat by your STEEM amount
  • This opens a popup box
• Click Transfer
  • This opens a popup box
    • From should have your name already there
• Click the box to the right of To
  • enter steembasicincome
    • NOTE: do not include @
• Click the box to the right of Amount
  • Enter 1.0
    • Make sure the drop down box says STEEM and not SBD
• Click the box to the right of Memo
  • Enter the name of the account you are gifting to.
    • I included @
      I'm not positive you have to.

Voila

• You and your friend now each own 1 share of SBI
  • Reload your wallet and scroll down to History
    • You should see the transaction.

Check out these links:

👉 Who: Hive account@steembasicincome
👉 Tag: #steembasicincome
👉 Steem Basic Income - A Complete Overview

• There is a LOT of detail in this post.
  • If you would like to learn the math behind leasing SP, read this post.
    • Learn about all the different pools they use...

👉 Membership List SpreadSheet

• 👉 Post explaining the spreadsheet

👉 SBI on Discord

Earning Bonus Steem Basic Income

If you upvote Hive account@steembasicinome posts you receive bonus income.

• They post daily.
  • Recommended: set up and autovote using:
    • https://steemauto.com/
    • https://steemvoter.com/
    • your favorite site...
• This is how SBI becomes more sustainable
  • It increases their income.
    It looks like right now each post earns them about $7.
    • You will start receiving double the income.

If you delegate them SP, you receive bonus shares.

• 1 bonus share for every SP.

These are cumulative and the delegation bonus is figured before the upvote multiplier.

• Example: you have
  • 1 SBI share
  • Delegating 100 SP gives you another 4 shares = 5 shares
    • You autovote so that doubles your shares to 10 shares

Random notes:

• Hive account@sneakyninja has a LOT of shares of SBI
• amount your receive per post magically varies
  • depending on the # of posts you do a week.
    • payout is adjusted so everyone receives the same weekly income.
• I read somewhere their goal is to pay you back in < 180 days,
  though I cannot source that right now.
  • That being the case, you should earn 1.0 Steem every 180 days
    • 0.0056 Steem per day
  • If you autoupvote to earn the bonus... = 1.0 Steem every 90 days
    • 0.0111 Steem per day
  • Today 1 Steem = 2.266 USD
    • Earns $0.01259 / day / share
    • If autoupvote, Earns $0.025178 / day / share
  • Theoretically, your investment doubles every 180 days.
    So invest xx today = 2xx in 180 days
    • If you saved your income and bought another share at 180 days,
      then in the next 180 days you would have 4xx.
    • So you have a 400% increase in value each year.
      That's a pretty good investment!
    • And don't forget your friends are earning totally free income...
      So actually, your investment is increasing potentially 800% / year.
    • And double that if you are autoupvoting SBI...
    • That is assuming a constant Steem value...

Who I am @WizarDave	The KEY to Life!