I've never been a proponent of UBI, it's too communist for my taste, but I was recently reading a little bit more about it and got an idea.
Some people say that in order to really have arguments against a concept, you need to understand it perfectly, see things from the perspective of those who support it, and actually try to defend it - it is only then that you will be able to dunk on it perfectly.
So let's explore the idea of a Bitcoin Universal Basic Income standard.
So, there's this thing called UBI, and it's like getting a cookie every day, just because. People are talking about it because they think robots and smart computers are going to do a lot of the grown-up jobs soon and eventually humans will not need to work as much as we are right now, and somehow we will live in a Wall-e utopia where robots take care of everything while we get fat and stupid, while getting funds from the state. Even in Canada, they're thinking, "Hey, maybe everyone should get some money to make life a bit easier."
Now, here's the tricky part. Some folks are worried that if they print more money (like using a magical money-printing machine), it might actually make things worse. Imagine if every time you wanted more candy, your mom had to print new money. Eventually, you'd need a big backpack just to carry it all!
But what if we did UBI on a Bitcoin playground? Let's break it down like building blocks.
First, let's talk about inflation. It's like when your balloon gets bigger and bigger, but with money. In Canada, they're worried that printing more money could make everything more expensive, like ice cream on a hot day. But guess what? Bitcoin is like the superhero of money – it doesn't like to get bigger all the time. So, UBI on a Bitcoin standard might not make your ice cream more expensive!
Now, the tricky part – where does the money come from? Well, on a Bitcoin playground, they can't just print more. It's like having a pizza and sharing slices. The government would have to take some slices from the people who have lots of them (we call that "taxation") and give them to everyone else. It's like making sure everyone gets a fair share of the pizza. No extra slices magically popping up!
And here's the cool twist – because Bitcoin is like a super-saver piggy bank, it doesn't like to lose its value. Unlike regular money that can go down in value, Bitcoin tries to stay strong. So, as time goes on, the government can actually give out less Bitcoin slices, and things will still be fair. It's like playing with fewer toys, but they're still just as fun!
Now, I know, I know – we can't always expect the grown-ups to be super smart with their ideas. But isn't it interesting to imagine a world where UBI doesn't cause more problems than it solves?
In the end, as we grow up, we might depend on UBI like we depend on bedtime stories. And it's good to know that there's at least one way to make sure everyone gets a piece of the pie without the pie getting too big!
So, there you have it, little thinkers. Bitcoin and UBI – like peanut butter and jelly, but without the sticky mess!
What the hell do you think about this topic?
I hate it, but at least I put myself in the shoes of those who might like it.
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who knows o.o i think some implementation to see if it could work is worth a shot x.x
I believe the currency in UBI cannot be a rare or limited cap item as the lives people no longer has an importance due to cheaper labor costs thanks to robots.
As long as people can survive, UBI's vision will be accomplished.
Bitcoin is only for people who are "more equal" 😉
Inflation is something that affects a lot, I tell you that in my country (Venezuela) the native currency is the Bolivar, and every day more and more bills are printed and every day those same bills are worth less.
The government for its part rewards us eventually with a little money in a 2 or 3 rounds per month, giving us about 5-6$, to try to solve our need because the Venezuelan money has no value due to the high inflation we have.
I don´t like the idea at all, same as I don´t think that all people are the same (same skills, virtues, etc). So why should all get the same? It would be not only unfair, but also kill motivation to do low-level jobs. We don´t have the army of robots yet who could do those.
In case of a BTC-based UBI, where does the government have the BTC in first place to give out? And if they don´t have, where comes the money to buy the Bitcoins to give out to all?
Still the same flaw of the UBI-concept, unless I misunderstood smth.
Mannabase is one such company that is raising the money to implement this many times on blockchain. They failed twice doing this on their own chain. Now they moved to ethereum and are trying hard to generate the userbase. It's a failed concept. You can offer the UBI to disabled and old people but getting entire nation under UBI is like creating venezuela global version.
Sorry but this is complete misunderstanding of money. More bitcoin bullshit.
this post of yours takes my mind to the Nayib Bukele led administration of El-Salvador . Despite being ridden by a huge national debt, El Salvador adopted bitcoin as legal tender in September 2021 and has since spent more than $100 million on bitcoin. UBI on a Bitcoin platform over there will indeed be a significant innovation.