What is Hive SBI?
Hive Stake Based Income (Hive SBI) is an account-based curation program. You sponsor accounts for regular ongoing curation, and then you receive back curation rewards as upvotes on your own content. This empowers both accounts to earn a sustainable crowdfunded basic income.
Members regularly accrue pending balance, and when their pending upvote balance is high enough, they receive an upvote on their latest post (or next post if their latest post is older than 24 hours), from one or more of our curation accounts.
Welcome to Hive SBI's second member interview!
To provide more interaction within Hive SBI, we are resuming our interviews with prominent members of Hive SBI. We hope to bring a greater sense of community, get to know our members, and gain a better understanding of why Hivers are choosing to be a part of Hive SBI.
Graphic by @katysavage
Writer Intro: @josephsavage
Joseph is the founder of Hive SBI. Entrepreneur, investor, trader, polymath; Joseph needs no further introduction. His writing appears first at Savage Corner and then on Hive.
Subject Intro: @kryptodenno
I have been in touch with @kryptodenno since 2019, when he started using Steem Basic Income to support the German community. He reached out to me during the downvote conflict in late 2019 with thoughts about what parts of the program were most controversial. We made some changes, a few whales came to our defense, and the attackers moved on. Ironically, the primary attacker eventually moved to Blurt because he decided that downvotes were bad.
Since @kryptodenno has been actively using Hive SBI to support his community, I thought that his perspective would be a good follow-up to our latest interview with @freecompliments, who is a much more recent Hive SBI whale.
@kryptodenno has the coolest profile logo!!!
@josephsavage: How did you get into crypto, and how did you learn about Hive?
@kryptodenno: Haha... I am one of the un(lucky) guys that started with crypto in the end of 2017. Bought my first 0.? BTC on christmas and more in the beginning of 2018. So what I learned first was patience 🙂
As many others I started on Steem (heard of it from Dennis Koray aka. Der Bitcoininformant - a german Youtuber) and came to HIVE a while after the hardfork.
@josephsavage: It seemed like a lot of the German Steem community had chosen to stick with Steem. Do you think that's the case still, or have a lot more come over to Hive (or gone inactive since)?
@kryptodenno:I think the majority of the German blogchainers are active on Hive today. Some users are posting on both chains and a few have chosen to stick exclusively to Steem.
And it's true that some Germans left Hive, mostly because they kept getting downvoted.
@josephsavage: Downvotes are the worst. I understand there is a place for them in establishing consensus about what should be rewarded, we don't want to become Blurt, after all! But I firmly believe that Hive would be orders of magnitude bigger if aggressive downvoting didn't drive away major influencers that were perceived as 'over-rewarded'.
@kryptodenno: I agree with you about the downvotes.
@josephsavage: How did you learn about Hive SBI, and how does it fit into your Hive journey?
@kryptodenno: I found out about Steembasicincome when I was active on Steem for the first time in 2019. A member of the German community donated me not only a delegation but also an SBI share after I published my very first post.
I always like to refer to SBI as a kind of passive income for active users. It is an interesting tool that has the potential to motivate and bind users to our blockchain in the long term.
So at some point I started a series of raffles in which I gave away SBI shares. After the hardfork, I transferred the concept to Hive, where I still publish a daily HSBI raffle (now more than 1000 editions) for the German community.
All in all I have given away around 5500 Shares and it will be more. 😉
@josephsavage: That's very generous! I knew about your raffle, but I didn't realize it was more than 1000 editions already. You may get some traffic from this interview, so is that only for German speakers, or open to anybody that can figure out Google Translate?
@kryptodenno: At the moment my HSBI raffles are for the German speaking community only. However, I've been thinking about making the raffle accessible to all ACTIVE users for some time. I'm actually pretty sure that sooner or later everyone who is serious about our chain will be allowed to play. Let's see what the future brings. 😉
@josephsavage: What do you like best about Hive SBI, and what could we be doing better?
@kryptodenno: I think it's great that HSBI has the potential to bind users to our blockchain. Once you have accumulated a few shares, you will get a guaranteed reward for your post. This not only makes you feel good in the moment, but also increases your motivation to be active regularly.
I actually wanted to suggest a website where all the important information about the project can be found. Now I see this website already exists. I should probably update myself more often. 😉
But one thing would still be interesting. How safe are the shares? Let's assume something happens to you (please stay healthy), who else can take care of the project besides you?
That might be a good additional point for the website that creates trust.
@josephsavage: We are working toward progressive decentralization (so that the program can continue to run itself in such an event) but it's a slow build. Hive isn't particularly amenable to the kinds of tooling that we need to do it safely.
@josephsavage: Do you have anything else that you would like to add before we wrap up?
@kryptodenno: Not really. There are a few ideas for new projects floating around in my head. Unfortunately, I don't know when I'll find the time to work on it. Maybe I should quit my 40-hour late shift job. 😉
I would like to thank you very much for inviting me to the interview and of course for the effort you put into the HSBI project. I wish you, everyone else out there and myself an exciting and successful future here on Hive. 🙂
If you want to curate accounts using Hive SBI, or to increase the level of basic income that you receive, enrollment is pretty straightforward:
Just send 1 HIVE to @steembasicincome. Include the name of a Hiver to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 unit in the program. You can sponsor any active Hiver (except for yourself), it does not have to be a current member.
The official currency for enrollment is HIVE. If we choose to accept HBD without refunding it, you do not receive extra value for it. Enrollments are processed automatically every 144 minutes.