What do you think of Universal Basic Income cryptos?

oweaponx

oweaponx

Newbie
Joined
Mar 27, 2012
Messages
24
Reaction score
5
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.
 
Advertise on BHW
oweaponx said:
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.
Click to expand...

Are these basically cryptos where you can get some for free? Free money essentially?
 
ciaran111 said:
Are these basically cryptos where you can get some for free? Free money essentially?
Click to expand...

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.
 
oweaponx said:
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.
Click to expand...

Swift sounds worth it then, assuming it's ever going to end up on an exchange
 
Asif WILSON Khan said:
I imagine UBI gives @jazzc nightmares.
Click to expand...

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.
 
oweaponx said:
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.
Click to expand...

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.
 
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.
 
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)
 
Nikolaos said:
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)
Click to expand...

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.
 
bartosimpsonio said:
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.
Click to expand...

Which countries specifically are you talking about?
 
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.
 
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
 
Advertise on BHW
You must log in or register to reply here.
Sign up now!

Main Menu

Home Main Forum List Black Hat SEO White Hat SEO BHW Newbie Guide Blogging Black Hat Tools Social Media Downloads

Marketplace

Account Selling Content / Copywriting EBooks / Methods Hosting Misc Proxies For Sale SEO - Link building SEO - Packages Social Media Social Media - Panels Web Design More

Making Money

Affiliate Programs Hire a Freelancer IM Journeys Making Money Pay Per Click Site Flipping Want to Buy

BlackHat World

Dispute Resolution Forum Suggestions & Feedback Introductions Lounge
Back
Top