Andrew Yang - $1k UBI Payments In Bitcoin?

Welcome back to the channel, and I hope you're having a great day. So I came across this article earlier today, and it talked about the Freedom Dividend, Andrew Yang's version of universal basic income, possibly being paid out in Bitcoin. So, you know, let's, let's look into this because I was excited to see something like this. Of course, I found it interesting because I'm involved in cryptocurrency. It's Many of you all know who watch the channel and have my own project going related to cryptocurrencies. But I was excited to see that and I start to look around and I start to see these articles popping up across the internet. So let's get into it. Let's see what they're talking about here. So Bitcoin for monthly $1,000 payouts. Andrew Yang says yeah. And this article comes from Anjavan Oosterhout, and this is on thebitcoinist.com. We'll leave a link in the description. But as I, as I said, I'm starting to see this pop up in different articles around the net. So free Bitcoin payouts could become reality under a US presidency if 2020 candidate Andrew Yang is elected. He has hinted in fresh comments universal basic income. Speaking during an interview on the Off the Pill podcast on September 15th, Yang, who is well known as a cryptocurrency supporter, shed new light on his Bitcoin plans. One of the few hopefuls to accept cryptocurrency for his presidential campaign, Yang has also said he wants to issue a monthly salary to U.S. residents. Dubbed the Universal Basic Income or the Freedom Dividend, the payment of $1,000 would apply to anyone, to everyone, regardless of status. Now, Yang has suggested those payouts could come in the form of Bitcoin, now trading around $10,066, rather than US dollars. When asked whether he had considered Bitcoin as the medium for applying Universal Basic Income, Yang appeared to say yes. He also reacted positively to a suggestion that Bitcoin's divisibility into satoshis made it the ideal candidate. Wow, I love where you're headed, he replied to the interviewer. That's one reason why everyone in the cryptocurrency community loves the idea of universal basic income or the freedom dividend. Bitcoin freedom versus ban. Yang's comments came as sentiment was remain sketchy over the attitudes to the current US administration regarding crypto. As Bitcoin is reported, some proponents already believe that should its value increase, or should its value increase, Bitcoin would face a ban in the United States under current political conditions. While it remains unknown how much a ban would be applied, a wider global clampdown on the freedom to use crypto is already gathering pace. By June 2020, more than 200 countries will likely implement identity requirements from the intergovernmental body or the Financial Action Task Force. These require, these require the sender and recipient of any transaction over $1,000 to identify themselves to an exchange or any other business facilitating it. Similar to a ban, critics have argued such a measure would in reality be impossible to administer. Nonetheless, last week the South Korean branch of exchanges, OK Exchange, OKX, announced it was halting trading of 5 privacy-focused altcoins explicitly due to the, uh, FATF's requirements. Yang meanwhile is not the only party thinking of leveraging financial freedom in a US election. Last month, the Kasa CTO Jameson Lopp said he was considering running based solely on advocating Bitcoin and giving it legislative freedom. Wow. Thinking about running for the president of the United States on a single-issue platform. If elected, I'll give every citizen 1,000 Bitcoins, he wrote on Twitter, echoing Yang's universal basic income. This is doable because we'll never run out of dollars, and the economics will benefit America in the long run since we'll end up with the most Bitcoin. Wow, guys. Now this is what I— this is a very exciting article to me. And, you know, is Andrew Yang really going to use Bitcoin to pay for the Freedom Dividend? I don't know. Probably not. I think Andrew Yang, you know, although it's possible, but I think Andrew Yang has been kind of clear as well as saying things like Um, you know, the one thing that the, the US government gets right is they're, they're able to issue payments out, right? Uh, they could do that efficiently. Uh, and that's the one thing they can do right, you know, send out a check each month. Uh, doesn't require a great deal of bureaucracy, any of that. So they got that down pat. I don't know if they necessarily need Bitcoin for that, but, um, there are other things I think in Andrew's plan— plans that involve cryptocurrencies from voting to, uh, the ideas like the Democracy Dollars, right? The, uh, he had some other things. He talked about some other cryptocurrency projects where you receive cryptocurrencies by doing good acts to your community, as you know, as such. So this is pretty darn amazing stuff, guys. Now what I didn't know about is there's this other candidate who's trying to roll out universal basic income that is only paid in Bitcoin, right? He wants to— so I don't know how good he'll do with that, but he wants to try something like that. Now, I can see many advantages with using a cryptocurrency over using money printed by the Federal Reserve, and a lot of cryptocurrency people will want to jump on that. But let's talk about a few things. I think we need a reality check cryptocurrency space who have heard me talk about this a lot and have had doubts about it and have looked back at cryptocurrency. But I think this article touches on some very important things, such as we have to look at what's happening with cryptocurrency. We had Donald Trump come out here recently. He was very negative about Bitcoin and many cryptocurrencies. This is not a pro-cryptocurrency president. And when you have that kind of thing, you're never going to have a good situation in cryptocurrency. So sorry for all you anarchists, or sorry for all you deeply red conservatives who have jumped on the Trump bandwagon, but you're in cryptocurrency. They are not compatible things. I'm sorry to tell you that. And if you think they are, you're going to find more negative in this space, uh, working for this space than positives. And I think you have to ask yourself, are you really working in alignment with your best interest? But in addition to that, the article brings out very important details about what's happening with the FATF, you know, which is the, uh, the regulatory body that's going to issue all this new KYC stuff, know your customer rule stuff. And people in cryptocurrency know once you start knocking at that, doing chipping away, you're, uh, basically weakening cryptocurrency. And I believe that's the government's way of controlling cryptocurrency. They know they can control the value of it and the number of people coming in. Also notice they haven't really came at Bitcoin yet because it hasn't been a threat yet. The market cap is only around, uh, not even quite $200 billion right now, and that's not even the size of a half-decent business. It is not a threat. But you see how quickly they reacted to Libra coin. They stopped them in their tracks. They're, they're on them like white on rice. And because they know that that's going to be a real clear and present danger, real threat Right? It's— that's the threat. Bitcoin and cryptocurrencies that we're thinking of should be the threat aren't there yet, and they're going to try to stop it from getting there. So what I kind of do see is for cryptocurrency to really work like we think it could work, it will have to be joined at the hip with the government to a great degree. A lot of us don't want that, but I think we kind of got our heads up in the clouds about it, and we're all going to have to come down. So Andrew Yang is going to more than likely use blockchain technology for something. I don't know what yet, but it's going to be used for something. So it's a very exciting article. He's definitely very pro-cryptocurrency. Make sure you support people like Andrew Yang if you're in cryptocurrency. If you know nothing about cryptocurrency, uh, and you're an Andrew Yang supporter, you need to stay tuned to this channel. Many have watched, uh, this channel, uh, Andrew Yang supporters, Yang Gang, and, uh, you know, and some of them don't quite understand cryptocurrency. But if this goes through, or if Andrew plans to do something with cryptocurrency, you really need to pick up as much knowledge as possible about cryptocurrency. Because according to this article, or the possibility of this article, it could be possible that you receive those payments in Bitcoin. Maybe. I'm not sure about that, but we'll see. Also, real quick, want to talk about our project, the BitcoinMYK project. Now it's all making sense. Now it's all coming 360. Now it's all coming back home. You're understanding. Now, uh, this is a similar project to what you would get with Bitcoin-like products, giving universal basic income out to citizens. But of course, our system is not government related, which gives it many disadvantages, right? It means that we don't have the government money. That's one thing. But it's also um, international, which means people outside the United States are also eligible as well. Uh, and it has some other things different from Bitcoin, many other things, but it's free to participate, free to join. It's absolutely free credit for you all to use and benefit from. And what we're pushing for and what we love to see is many projects across the globe like this, because think about it, if everybody's doing UBI, we won't have to worry about stuff like who's going to pay for it, where's the money coming from. You can collect UBI from a variety of different sources, and that's going to be better for everybody, right? If that happens, that's going to help move our system, change and transform our economic system into a model that works more in line with how Andrew Yang's talking about it, right? Getting that $1,000 per month. So this is amazing stuff. I'm going to leave a link in the description to our project. Make sure you join, guys. This is something that I feel like when you don't join this, sometimes we get tens of thousands of people to videos and I see no reason at all why those tens of thousands of people leave value and opportunity at the door. Uh, it's almost to me so very related to how American voters have heard Andrew Yang's message, haven't taken advantage of it. Don't let that be you. It's time to transform our economic system. I'm starting to see that happening every day now. We're moving into a new world, hopefully a golden economic age, or maybe one of the best we've ever seen in human history. We shall see, we shall see. That's all I want to say in this video. If you like content like this, you know what to do. And until next time, take care.