RE: Upvoteshares | Numbers & Calculations Explained
This is very well thought out and I am planning to buy some of that shares once you are ready. I also know I can trust you on things like this since we are more or less planning to stay here on Steem for a long time.
Honestly there are just too many details to take in. XD I have a little quick question though (sorry in advance if I may have missed it in this post or you will be creating another post for it):
I have checked the @upvoteshares account and it is currently sitting at 543 natural SP. Based on your chart that will likely put us at Level 2 once the account is ready, with 150 Total Shares available and a Share Price of 3.33. Now unto my questions:
Will there be a limit as to how much one can buy shares? Seeing as their still is no numbers as to how much 1 share will be worth in upvotes, but if it is guaranteed to make a little profit in return, people will likely buy those shares in no time.
At say Level 2 with 150 Total Shares, what happens when only 50 shares are sold? How is the upvotes then distributed?
Will you do the adjustments manually or all these will be automated? If manually, everyday or weekly? I appreciate what you are doing but if all of this are manual, this will be very tiring :)
Just to make sure this is lifetime daily upvotes right?
Thanks for the interest and reply jlordc, I know it's quite a lot to take in.
yes, the idea is to be open only for members who use steemit in a constructive way. One of them will be the extend in how much they give back to the steemit community. What I had in mind is to set the maximum amount of shares an account can get based on their owned SP. It would make no sense for someone who owns 15SP to get a share to basically support themselves while they are not even in a situation to support others. 1 share for each 40-50SP owned I would set the number at. Shares will also become incactive in case there is a big power down or lease. So someone having 1000SP getting 20 shares who afterwards goes to delegate 900SP to a bid bot will see 18 shares go inactive seeing the worth of those upvotes go all other shareholders. (shares can be sold at any given time though). The idea is really to reward the ones who are on steemit for the long run.
once the account reaches 549 SP, 50 shares will become available. the 100 first shares are allready "sold" Level 0 are all inactive shares that will be used to convert minnowshares in the future (more on the sponsorship part will come in a later post). Right now they give extra value to existing shareholders. Level 1 was uses to give out some permanent shares and some test shares to see it it all works properly. Soon some of those shares will be given away in some contests. So level 2 has 50 shares that will become available. even if only 1 of them gets sold the program will still easily meet the minimum requirements of having at leat 10% extra SP in the account. 549SP+3.33SP = 552.33 / 150 shares = 3.6822SP in the account for each share. all the shares not sold will be added to the existing shareholders upvote worth so in that case each share would be worth 549SP+3.33SP = 552.33 / 101 shares = 5.468SP
I right now am using Steemauto. The idea is to do it manually. Since it is done in batches and the SP needs to reach a minimum amount in order to open the next level I expect it to all be very managable. The supply is very limited and looking at steembasicincome there is quite the demand for something like this so I expect it not to take too long for a level to be filled. After that it's just a matter of calculating the upvote % of each shareholder, add it in Steemvoter and let the programm run on it's own until the next level is reached. I'm not sure how long it will take but there will always at least be at least 2 weeks in between.
Lifetime in as long as the program runs. In case it ever comes to a point where it stops everyone will be able to claim and get back the steem during the 13 week power down period.
I hope this answers your questions!