Hi fellow Hiveians,
Today I'm here with the second iteration of my "Power Up & Sponsor" initiative! I will try to be doing these monthly, to both join in on the Power Up day festivities but also to add my own flavor to it that I think would be great if more could join in!
Check out below for details of what this means exactly!
First things first, let's take care of the more important section now!
So what I personally think is great is to be able to sponsor people with Hive Stake Based Income shares.
For those newer folks on here that aren't aware of what this is, Hive (formerly known as Steem) Basic Income is a way where you can send 1 liquid hive to the account, @steembasicincome, with a username you are sponsoring (example, 1 hive with a memo of @cmplxty and you get 1 share and I get 1 share) and they add that to the number of shares you have. The more units you have in the service, the higher your vote gets.
There is a limit to the vote weight to prevent abuse but it doesn't give you a vote (last I remember) unless it is over the dust threshold of 0.025$. The more units you accumulate, the more you will get for votes.
I want to say though that some people feel this service is not a good thing. I can partially see what they mean, if people who post spam and useless things get a bunch of shares and votes from the service then it promotes spam. The users I am supporting are selected by me and I make sure they post good content, not crap. I am really hoping that it will not result in people receiving downvotes but I think they are strong accounts that I’m helping so their content speaks for itself, great stuff!
So now that you have a basic understanding of what the Stake Based Income is, how do you do that, you ask? That's easy! There are two methods, both equally as easy. If you use hive.blog or Ecency or one of the other front ends you can do it just from your wallet.
Go to your wallet and click the "Send" button or "Transfer" depending on what the button says for you, but we want to send at least 1 hive.
Once we are in the transfer function, you will specify the account they are going to, type steembasicincome (DOUBLE and TRIPLE check the spelling! So you don't lose out on any funds!) as the recipient account and then the amount you wish to send. Then the last step before transferring is you must include a name of a person that is not yourself that you wish to sponsor. If you send hive to them without a name or with your name as the only one there, I believe they will transfer it back. You have to sponsor other people in order to benefit from the program. Obviously I won't be sponsoring myself but I wanted to just show what needs to be done.
The other method is through the PeakD wallet, if you go to ‘Other Services’ it is listed there, just click on it and it brings up the same screen.
So I invite my fellow Hiveians to indeed power up their hive but take a small portion of that hive, even 1 hive if you could spare it, and help support yourself but more importantly, help some of the lower accounts. Steem Basic Income didn't exist when I first started, at least not that I know of. To have a service where people can sponsor others so they get a bit of rewards to help them along besides the votes curators give them, is a good thing. Getting people to find your content and give it a vote that will actually give you rewards is sometimes challenging when you are new. It can be abused and certainly has, but it has helped a lot of people including me.
I would be remiss to not join in on the power up myself! Below is me adding some more Hive Power to my total, getting me closer to that 10k net Hive Power (factoring in the delegations I have, so it would be roughly 10,660 Hive Power) goal that I have for the end of year!
Not the biggest power up but every little bit counts! I’m now almost at 8k net hive power for voting!
Did you enjoy this post or my other posts? Please consider following me for more! @cmplxty
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