It was through @freecompliments' work that I initially came to know of the project, but it was reading @paulmoon410's Brainstorming... recently that spurred me to action. Have a read yourself, but my rough summary is this: Paul wants to improve the world; the real local world around him, by helping people through the toughest shit — the kind that's way too common: poverty, hunger, homelessness — using this weird network we have here; Hive. I was inspired. Seeing that prompted me to actually dive in and figure out what HSBI is, how it's used and if it could be helpful.
Here's what I found:
There's a webpage HiveSBI.com a Hive community: Hive SBI and at least 12 different Hive accounts. @Steembasicincome is the main, and then there's @sbi2 through @sbi10, @sbi-booster and @sbi-tokens.
If you send or delegate funds to any of these accounts, you will help broaden practical deployment of the Hive SBI payments. These payments take the form of upvotes on the posts of sponsored accounts.
'Sponsoring' is what occurs when you send a whole number amount of Hive to the @steembasicincome account with someone else's account name in the memo field. The '@' for the username is not required.
What happens to the Hive you send? It's staked by the receiving account to increase the size of its upvotes — the payments.
So, I had 4.127 HBD in my savings, which I took out; waiting 3 days for that to happen. I then swapped that for HIVE using Ecency:
Once that was done I had 13.172 in liquid HIVE, which includes 0.416 that was there prior. I staked the 0.172 and then started sending transfers...
Turns out you can sponsor more than one account in a single transaction, as long as the transaction amount divides cleanly between the sponsored accounts. I didn't realise this, so made thirteen separate transactions of 1 Hive. If I could go back and do it again, I would instead send one 13 Hive transfer to @steembasicincome with 13 usernames in the memo field; each separated by a space.
Why all the references to 'Steem'?
Because Steem is where Hive started. It's a long story and I don't know all the details, but the short version of it could go like this:
Maybe 7 or 8 years ago, a company called Steemit Incorporated started a social media network based on the idea of paying people for all the things that users on other social media networks do: creating content, sharing content, liking content, all that. There were other reasons too. Some time later, that company was bought out by a person that proved to be corrupt. This person abused their bought power in a way that threatened the independence of the community growing around the platform. In response to this, the community moved — to the same place. That is, they made a copy of the underlying platform and shifted away from the compromised version, so they could be independent, decentralised and free — again. This new place was named Hive, but in most other ways it was a verbatim copy, so projects and initiatives that were started in those days, with their associated accounts, were copied over as is.
My old account is still over there on Steemit, with broken image links and everything
The reason that the community could do this is because all the computer code underlying the platform was open source and freely available.
While talking to @paulmoon410 on his post (Brainstorming...), I wrote '@steembasicincome' in one reply. Before very long at all a different account entirely had posted a comment in response: @josephsavage. I think Joseph is the creator of Hive Stake Based Income, which is corroborated by content on HiveSBI.com like this interview
*Friendly cringe*
So that's what I've got to say so far. That's Hive Stake Based Income and that's how it's used. Can it improve the world on a local level? On it's own, no. However, we can use it as infrastructure to improve the world ourselves. People need access to resources for living. Society is so structured that money is required to access these resources. Hive Stake Based Income can be used to generate that money and people can use Hive to access that money through their accounts, converting it to fiat currency through an exchange when required.
Is there more I can say about Hive Stake Based Income? I'm not sure, but if you are, let me know in comment form.
Here's the 13 people that I sponsored with 1 Hive on 20 Jan 2024 starting from 01:58:30 (UTC):
@akdavv
@davchi2
@esmeesmith
@paulmoon410
@ifarmgirl
@ura-soul
@nonsowrites
@asia-pl
@papaya-positive
@lordbutterfly
@antisocialist
@ssekulji
@biyimi
More recently, I received a tip of 1 HIVE for sharing that a person's shadow in a photo looked to me like the Lord Farquaad character from the movie Shrek. I used that tip to sponsor one more account:
Life's absurd...
Thank you, you rock!
More like there was a company, stinc, that went rogue on the community and swindled a chinese billionaire into catching the hot potato, and away we went.
Jsun had no chance to act maliciously, we cut him off at the knees before he could.
He did say things that were worrisome.
'For now.'
'Swap the code out for tron code.'
Etc.
Once the split started it was open warfare.
Teaming up with the exchanges to stake customer funds was the final straw.
Up to that point we were holding our own.
After that point, the fork was inevitable.
There's always more nuance than any story a person can tell. Thank you for the context and extra information!
You forgot that Justin interrupted me and took my time. When I got it back I immediately advocated for us too abandon ship!
May the best chain win!
We got Hive which actually was a huge dumb mistake for marketing. And then we also got blurt and some other ones.... In fact I really don't remember any other forks! Lol!
Actually that was really cool and put us front page of the crypto headlines...
And now we have pretty much squandered every opportunity and the blockchain is dying...
Other than OCD and acidyo owning the blockchain.
Great article about hsbi!
Like you, I definitely like the concept as well.
Here's some curation, so you can sponsor more people! :D
!hiqvote
Thank you kindly
Thank you for the nomination, much appreciated :)
You're welcome. Thanks for everything you do, in turn!
Thanks for the sponsor @ndk.focus
You are welcome, friend. I'm looking forward to seeing more of your art and reading more of your writing, in time!
Hey you still around, mate?
Yes dear friend
That's grEAT! Been drawing or writing any lately?
@stekene, the HiQ Smart Bot has recognized your request (3/3) and will start the voting trail.
In addition, @ndk.focus gets !PIMP from @hiq.redaktion.
For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻
Carry on sir. Way to go!
👍
Contains a better telling of the Hive fairytale than what I've done here:
@verbalshadow/hive-is-a-security