A few months ago when I launched INCOME token in testing mode, it was just a dream of something that was possible - a bundle of ideas, of "might do's" and theories around creating and sustaining value.
Today I am happy to announce that we are moving to Phase 1 Alpha! What does this mean for the INCOME hoard? Read on to find out!
The basic automation was originally created with help from @thecrazygm and some long conversations with @rudyardcatling. The idea is simple - Everyday, INCOME token holders automatically get entered to win nominations for SBI units.
MATH + ENTERTAINMENT = FUN and PROFIT
Income is an entertainment token because if anything goes wrong, wasn't that fun? Jokes aside, the legal obligations of being anything other than an entertainment token are complicated, constantly changing, and really unnecessary for the current scope of this project.
That said, the expected value of holding any number of INCOME token can be strictly calculated using probability math, based on the number of other holders and their totals and taking into account the number of daily draws at current.
I am not going to do a new example in today's issue, but here are some calculations I did for a past scenario
WHY SBI?
I work closely with @josephsavage and @steembasicincome as a community manager, writer and spanish language moderator in discord. Besides my own involvement, SBI has the following benefits that make it attractive for our program:
1. Sponsor and Sponsee Growth
After each new day of nominations, our program (and any using SBI) will continue to strengthen its ability to utilize the power of #STEEM.
2. Delivery that is time and post-type agnostic
Since the advent of 'automation', Steem Basic Income delivers exact rshares values to users from their 'balance', allowing for accumulation or draw down. After 7 days with no post, comment votes are enabled. By using the tag sbi-skipanywhere in a comment or post, users can mark certain content to not be voted, and thus are in complete control.
3. Long-Term Focus and Self-Selective Burning
The 'ROI' of this non-tradeable token is measured in years, and can only be achieved by actually using #STEEM, albeit almost in any way. Any users that stop using #STEEM permanently would be effectively burning their balances. Those that are unable to post for awhile will find their balances have continued to grow.
4. Open-minded, multi-vector black-list/tag-list
While using multiple blacklists from other communities as a place to start, @josephsavage and team use every tool at their disposal to insure that no one is treated unfairly, including manual review, encouragement and education and, if necessary, the refund policy. Another vector of attack is the tag-black-list, which puts the onus on generally low-quality tags like drugwars instead of on users. Anyone using those tags would just not receive a vote on that post, their balance continuing to build until the next.
Along with the powerful reasons listed above, I like SBI's model of curating users instead of individual contents. I believe both techniques go hand in hand in a healthy #STEEM ecosystem!
INCOME ACCOUNTING
@ecoinstats account:
1750 SP
2790 SBI
500 MAPXV
1406 MAXUV
348 staked MAPX
This account has grown thanks to sales and, full disclosure, most of those have been to myself. You can see the current rich list below - I have deployed my full INCOME hoard under @quintaesencia, a not-for-profit that I help manage.
PROBABILITY
INCOME token probability uses what I call the 'minnow skew', which limits each account to 1 win daily. This allows me to hoard all of my substantial INCOME in one account and never take more than 1 SBI per day from the prize pool. @ecoinstats is now listing 4 winners daily, so if you want to calculate the expected value of holding any amount, it would be easier to simplify to 3 draws and remove @quintaesencia entirely from the calculation.
A quick napkin calculation will show you that INCOME are still quite undervalued on the market. I believe the sweet spot (EV) to hodl to be in the neighborhood 20-30 tokens. For anyone looking for a special whale deal, I have a few 1000 income packs remaining, starting at 1050 steem. Get in touch with me for more info.
To the STEEMLEO community - thank you for the invitation to post on your interface (I love the DEX!)! I look forward to your thoughtful and challenging feedback in the comments!