I had difficulties understanding HSBI
Greetings people!
I'm a year and a half on this blockchain, and I've not had a smooth ride, especially in my early days. The truth is that newbies of these days have a better ground to walk on compared to how it was some years ago.
When I joined, I had issues understanding a lot of the basic things that a newbie needs. I remember how I went through the process of buying Hive on Binance to get my first HP to power up in order to get Resource Credits to post and publish. I didn't know that there was anything like a HP or RC delegation. I pass through mini-hell, understanding the processes comprising of hive-bogus terms.
Among other things, one of the things that took me time to understand, even when I had stayed up to 8 months on the Blockchain, was HSBI (Hive Sake Basic Income).
Way back when the Inkwell Community used to give HSBI to winners of their prompts, I got notified of being among the winners, and I got 3HBSI.
Mehn, I was so happy because 3Hive then was something big. Oh yeah, I assumed that the 3HBSI is 3HIVE, so I quickly went to my wallet to see if the 3HSBI had been topped up there, but no, I didn't see anything.
"Oh, maybe the top-up will come in their next winners announcement," I concluded and decided to wait for the next few days, which is the interval for the announcement of the next prompt winners.
I didn't just bother; I didn't ask anyone; I kept mute until the 7th day arrived. An announcement was made, a new set of winners were selected, and I went to check my wallet and didn't see anything.
I knew of a friend that usually wins in the community; I went to ask her, and she laughed at me because, according to her, I was supposed to know more than her.
She went on to tell me that she hadn't seen any of her winnings from HSBI in her wallet, and she has asked questions, but no one has given her a reasonable answer. She didn't stop there; she went on to say that, actually, they explained well to her, but her brain was not ready to comprehend anything about "finance" so she let everything be.
Haaaaa!
I like taking on challenging tasks. I went to the Inkwell community Discord and asked a very direct question, and I was lucky to get a very plain reply about HSBI and where to find it on my account.
I quickly rushed to my account using Peakd Fronted.
Clicked on wallet.
Selected OTHERS and boom I saw my HSBI.
In a very easy way,
HSBI is a third-party account in the hive blockchain that offers holders of the unit a lifetime upvote.
A lifetime upvote means that as long as the account holding the units is alive and publishing, it'll continue to get upvotes, depending on the volume of the units it holds, and also, this upvote doesn't come on all articles.
HSBI is not sold or traded, but we can gift it out....Maybe you're no longer going to use your account, and you have a lot of units in your possession. The best you can do is gift them out to your friends.
As you can see above, I have 36 units already, and I get upvote occasionally by the account. People with bigger units get more votes.
My HSBI earnings have been from gifts and contest winnings. You can win too by engaging with contests that award HBSI.
I hope I'm able to share some light
Thank you for reading.
This is my entry to Hivenaija prompt of the week
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BEER.I also have this issue on hive but now I have learnt. This post was truly eye opening.
You're still a newbie 🤣
Thank you dear
I might be a newbie but I'm getting a hang of this
For sure, you're climbing faster to how most of us crawled.
Keep it up 👍
Thank you 😁
https://inleo.io/threads/kingsleyy/re-kingsleyy-ji66qtrh
The rewards earned on this comment will go directly to the people ( kingsleyy ) sharing the post on LeoThreads,LikeTu,dBuzz.
Omoh I never really understand am o. But your post highlighted some thing
A lot of people are yet to know about this thing 😅
You're welcome boss.
Thank you for stopping by
Hi! Congratulations on your journey on the Hive blockchain and thanks for sharing your experience.
Thanks to you, I just saw that I have a few HSBI units myself (5 to be exact), but I have to admit that I don't always fully understand how they work. It basically means that these HSBI units act as a kind of long-term support for my content? But why doesn't it vote every time? Who manages this?
#dreemerforlife
I manage it. The sporadic voting basically works like this:
When your account is first enrolled, you get a pending upvote balance of with an estimated value of $0.063. On your next post, 1/3 of that is delivered as an estimated $0.021 upvote. Minimum upvote is always based on $0.021 estimate. (Since the blockchain uses other units, it's actually calibrated differently and adjusted weekly to stick to an $0.021 estimate so there's a little fluctuation here.)
After your first vote, your account accrues additional pending balance every 2.4 hours. When your pending balance exceeds $0.063 again, you get another upvote. When you have more units, you accrue pending votes more quickly (fixed amount per unit * number of units) so you get upvotes more often. At some tipping point, your pending balance estimate begins to grow larger than $0.063 (because you are accruing more than $0.021 in between posts) and then you start receiving votes every time you post. If you keep increasing your level, your vote size will continue to grow until you reach our deliverable maximum (100% upvote across all of our main voting accounts).
This is detailed in more depth in our FAQ at https://docs.hivesbi.com/
You can see your unit levels, pending balance, enrollment history, and votes received at https://www.hivesbi.com/
Both pages have links to our active Discord where we would love to answer any further questions.
Thank you so much for taking the time to explain this to me. I think I'm almost starting to understand how it works.
Hehe, I'm really learning a lot since I've been on the platform, but it's still not easy. There's a lot to understand. Although for the most part, it's okay not to understand them, it's more about understanding what you're doing and why you're doing it.
I am like that your friend lol. Anything that concerns the financial aspect of hive I don't have strength, make I just post first. Thank you for sharing.
#dreemerforlife
Lol🤣
Why are ladies like this?
But, we have a lot of ladies too that know these things very well. Most of the crypto/trading stuff I learnt on this Blockchain,
Ladies taught me.
Dear, you can do it. The brain is there
😂 I will try
There are some technicalities in hive that seems too difficult for the brain to interpret depending on individual exposure and knowledge, there are others who have spent considerable amount of years on hive but they are still incapable of understanding what things such as HSBI stands for. It all depends on individual curiousity to discover and learn on hive, if you were not curious enough and decide to keep mute the way your friend did you would have remained in the unknown.
Pop in from #dreemport
#Dreemerforlife
You said it all bro.
Even at my stage, there are a whole lot of features that I don't know they exist.
Hive is like, the more you grow with curiousity, the more you know.
Thank you so much 🙌
Thank you for explaining, Hive is indeed like a jig-saw puzzle.
I'm adding one piece at a time, thanks for helping with a new piece
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