What do you think of Universal Basic Income cryptos?

[oweaponx]

The 2 I'm most familiar with are Manna Base and Swift Demand.

Manna distributions are so little, that it takes a long while, just for a few cents.

Swift gives 100 tokens/day, but so many people are charging thousands or 10s of thousands (because they're doing a 1:1, where their currency isn't as much as GBP, USD, EUR, CAD, or AUD?), which leaves me not sure if it's worth the time.

What are your thoughts on UBI, in general, and if crypto coins are the answer.

 

[Wilson Grant Fisk]

Request Mods Move to crypto section
https://www.blackhatworld.com/forums/cryptocurrency.218/

 

[Hydius]

Weak men create hard times

 

[ciaran111]

The 2 I'm most familiar with are Manna Base and Swift Demand.

Manna distributions are so little, that it takes a long while, just for a few cents.

Swift gives 100 tokens/day, but so many people are charging thousands or 10s of thousands (because they're doing a 1:1, where their currency isn't as much as GBP, USD, EUR, CAD, or AUD?), which leaves me not sure if it's worth the time.

What are your thoughts on UBI, in general, and if crypto coins are the answer.

Are these basically cryptos where you can get some for free? Free money essentially?

 

[oweaponx]

Are these basically cryptos where you can get some for free? Free money essentially?

In theory, yes. After a month, I may have had $0.25 USD in mana. While Swift is high amount, it currently (to my knowledge) isn't on an exchange, so it's just there.

I read about one crypto UBI that you can only spend "in world," where you can buy actual goods/services, and only the vendors can covert. It's also supposed to have an automatic "devaluer," to discourage hoarding.

 

[Wilson Grant Fisk]

I imagine UBI gives @jazzc nightmares.
Not something I have looked at too closely at TBH, can't see it being seriously adopted.

 

[ciaran111]

In theory, yes. After a month, I may have had $0.25 USD in mana. While Swift is high amount, it currently (to my knowledge) isn't on an exchange, so it's just there.

I read about one crypto UBI that you can only spend "in world," where you can buy actual goods/services, and only the vendors can covert. It's also supposed to have an automatic "devaluer," to discourage hoarding.

Swift sounds worth it then, assuming it's ever going to end up on an exchange

 

[jazzc]

I imagine UBI gives @jazzc nightmares.

Haha not really. I'd have such nightmares if I lived in Venezuela

That said, giving away coins isn't UBI. To understand this, think of me freely distributing my autograph. Nobody will argue that getting my autograph is UBI, regardless of the probability of me becoming ultra famous in the future (and thus it getting some value).

Moreover, UBI is about everyone getting a check of the same non-trivial amount. That's an enormous amount of money in aggregate. Fauceting 100 shit coins isn't.

 

[jazzc]

I read about one crypto UBI that you can only spend "in world," where you can buy actual goods/services, and only the vendors can covert. It's also supposed to have an automatic "devaluer," to discourage hoarding.

That's called a coupon. Coupons aren't meant to be convertible but ask anybody who deals with coupons about how easy it is to convert them at a discount.

 

[waitingforday]

I think this is financial pyramid, this scum don't worth investing your money

 

[niel1996]

There is only one way that universal basic income could work, that's in a society where people don't work anymore and you tax the robots instead. Otherwise i don't see how this can work, there is no such thing as free money. There is always someone paying the bill.

 

[Nikolaos]

Basic income is a utopian dream. You should instead focus on passive income either through crypto or whatever other means you can have (like peer to peer lending,bonds,owning reap estate etc)

 

[bartosimpsonio]

Basic income is a utopian dream. You should instead focus on passive income either through crypto or whatever other means you can have (like peer to peer lending,bonds,owning reap estate etc)

It's not utopian. Some countries have excess cash they return to their treasuries. Their economies are totally different from large countries like USA and Russia. Little tax haven countries and rich little countries are able to pay thousands of dollars in unemployment benefits and their budget is fine. Not gonna happen in USA and other large countries anytime soon, but it surely isn't utopian. In fact unemployment benefits are almost universal income if you think about it.

 

[CryptoKujira]

It's not utopian. Some countries have excess cash they return to their treasuries. Their economies are totally different from large countries like USA and Russia. Little tax haven countries and rich little countries are able to pay thousands of dollars in unemployment benefits and their budget is fine. Not gonna happen in USA and other large countries anytime soon, but it surely isn't utopian. In fact unemployment benefits are almost universal income if you think about it.

Which countries specifically are you talking about?

 

[Metatrons Cube]

How are the tokens which are given out every month created? If their system is essentially just a blockchain which generates x tokens per registered user per month and gives them out its 100% destined to fail. Even under a UBI-like structure, tokens need to be valuable for a legitimate reason, not just because someone says they have value.

 

[bartosimpsonio]

Which countries specifically are you talking about?

I didn't mention any on purpose to avoid the political bullshit and yadda yadda that comes with it.

Do some research on universal basic income and high ass unemployment benefits and you'll find them easily.

 

[Voyag]

I remember inviting many people to swift demand.. I have so many coins now.
But once they introduced KYC, I knew they were just trying to gather info.
Stopped it then and there