Mykos Coin Vs Dan Larimer's Universal Basic Income
In this YouTube commentary, the host examines Dan Larimer’s proposal for a universal basic income (UBI) on the EOS blockchain and contrasts it with the author’s own token, Miko’s Coin, which uses a proof‑of‑participation model. The video begins by outlining the growing relevance of UBI amid rapid automation, citing Boston Dynamics’ Atlas robot and self‑checkout systems as evidence that many jobs may soon be displaced. It then explores common criticisms of UBI—its perceived unaffordability and the fear that it will make people lazy—while offering counter‑arguments that UBI could free individuals to pursue creative or educational endeavors. The speaker discusses how small, tightly‑knit communities can successfully implement socialistic‑type redistribution, suggesting that early‑stage crypto token ecosystems might similarly thrive. The core comparison highlights that Miko’s Coin does not rely on a central authority to fund payouts; instead, it rewards participation across multiple blockchains, providing a potentially sustainable alternative to EOS’s UBI, which may face scalability and taxation challenges as it expands. The host expresses cautious optimism for Larimer’s model, pledging personal participation, but warns that its effectiveness may diminish at larger scales. Throughout, the video debunks the myth that people will stop working under UBI, citing retirees and volunteers as evidence of intrinsic motivation. The commentary concludes with a call to action for viewers to engage with the channel and Miko’s Coin contests.
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Hey you, welcome back to the channel. And guys, today I want to talk about some comparisons between Miko's Coin and Dan Larimer's Universal Basic Income system. So, um, if you know who Dan Larimer is, um, an extraordinary guy, uh, a great asset to the cryptocurrency space. Created Steemit, created BitShares, and, you know, of course EOS. And just a brilliant individual, but also, in my opinion, a very compassionate individual who cares about the world. And so he's been proposing the idea of universal basic income. And we know that universal basic income has been a topic of discussion for many years. It's a divided camp where people see it as a type of more socialistic type system where you reward lazy people, and this makes the world or worse. And, and, um, and then some people see it as an answer to, uh, deal with issues like, uh, automation and, uh, robotics taking jobs of human beings. And, um, as you can see in this, this is a, a, a, a, um, a picture of the Atlas robot that was created by Boston Dynamics. And this is a very important picture, I think, because I, I think a lot of people are kind of out of touch with just how far and how advanced robotics are. I was talking to someone who they didn't even believe that robots could work or had the dexterity to perform certain human jobs. They thought it was just like something out of science fiction. Like they, they never saw this Atlas video that's on YouTube that you can watch with Boston Dynamics. So a lot of this stuff they're just completely out of touch with. Like, they think this might be stuff that's off 50, 100 years when, you know, these robots are very capable of doing many jobs and tasks that right now today that people are doing. When we walk into Walmart supermarkets and various things like that, many of you probably noticed that you've been able to check yourself out with a, with a machine, a robot essentially. and it gives you the exact change, and it rings up your, your items, right? And same thing with fast food restaurants like McDonald's, uh, you know, whereas on average, especially if you're in America, you know, the average salary is, uh, very low, and most people have these type jobs. So, uh, you know, it's going to be a lot of people who, uh, are going to be out of work at some point. And so one big argument for universal basic income is that, you know, when that happens, these people will need obviously a way to make a living and that the government will need to step in and provide them some, this universal basic income so they can support themselves. So today we wanna explore some, I think some truths about Universal Basic Income and probably some myths and how people have looked at this in the past and how they look at it now. And some comparisons between my token, Miko's Coin, and if it relates to Universal Basic Income. And so we'll kind of compare, do a little comparison as well with that. But, um, so first The idea that universal basic income, uh, let's first tackle, is it affordable and does it make people lazy? Well, it's very hard to determine the full effect of, uh, what universal basic income will do, uh, to the, to society. Uh, for instance, I think one false narrative has always been that, much like many socialist systems that have failed, that universal basic income would just rob people of wealth, right? And that then these people would become lazy, they wouldn't go to work, or they wouldn't feel the need to do anything. But that's one narrow way to look at this. But if we take a much broader view of what universal basic income can be. And I'm not defending it. I'm not saying that universal basic income is the best idea or the only idea. But what I want to attempt to do is try to cover what may be some truths about it and what might be some falsehoods that we need to pay attention to. So the idea that We can't afford it and that we have to take money from wealthier people. Well, that I think overall would depend on society as a whole overall contribution. Whereas we know that universal basic income will have some people that maybe don't work. You know, it's possibilities they could be lazy, never get out of bed as their basic needs are going to be met either way, uh, we also have to account for freeing up so much time for people to be creative and come up with ideas. You know, let's, let's take a college kid for instance. A college kid who maybe can't afford college, right? A brilliant kid who's wasting a lot of time, a lot of hours in a day, and tiring himself out from schoolwork because he has to try to go to work at the same time to pay for his college and he's doing some level of work that, uh, is not even related to the field that he's going to work in and is not even related to helping to promote and push for his genius, right? And so, um, one thing comes to mind is in situations like that, you could possibly have people who can just focus primarily on creation, Creation, creativity, and these people overall, in their overall contribution back to society, could possibly create better ways we do things and create more money. So it's very difficult to measure the full effect of what universal basic income could mean. On the other hand, I could see in certain cases where universal basic income could be very difficult to pay for. Where would the money come from? And would it relate to this situation where you're pretty much taxing people who do produce to pay for people who don't produce at a balanced level throughout society? To where the system is sustainable. So that's, you know, these are all valid points and they all make a lot of sense, but we also have to bear in mind that a lot of the ideas we have about universal basic income is primarily based on ideas we have about this type socialism versus capitalism type system. And there are many components that go into this. For instance, you know, we find that socialistic models seemingly work well depending on how large a size of group we're dealing with, right? We found that in communal societies, smaller tribal societies, or small nations that are fairly wealthy, but have a vastly small population, you know, obviously they do well in these socialistic type models that I think we use very much in comparison to universal basic income. Also, these models don't take into account robotics revolutions, you know, that this is probably inevitable that these robots not only will create this revolution of doing work that we can't do, but because they can do it cheaper on scale, the robots don't get tired and they can work all night and they will be a lot more affordable than a human counterpart, that you're going to have basically a lot more wealth creation in that area that could be passed down because You've got the robots bearing the load of human society so you don't have to pay human beings to do this anymore. Now you got this free, free up capital, what to do with it? So now you can find other places to put it. You can distribute it back to human beings, or it might just be easier for people to buy their own robots and let their robots go to work for them. You know, maybe they can lease or rent robots for the day and make a difference between what the robot earns and what than what they, you know, what they cost them to lease or own a robot, right? So there's many different ways to look at this, but, you know, going back to, we base this a lot on the traditional socialistic models we know today about, and that's where a lot of the conversation and the information comes from. You know, so, well, in comparison of that to, to, uh, models like Miko's Coin, where we kind of work on a proof of participation model, uh, and where there have been some comparisons to, uh, the Miko's Coin system to the, uh, universal basic income system like the EO system. Um, but first let me go back in because I kind of skipped over— I was trying to make a point after I was talking about these small ritual groups, uh, in socialistic type systems that work. And I was trying to relate that to if you got a token doing this, if you got like something built on top of the EOS blockchain doing this, uh, initially I would think that it would be quite successful and that it would only probably be years down the road or later that maybe it would become possibly an issue based on the size of growth it, it encounters. Because, and I say that because we have found through data and studying that smaller pools, smaller systems do quite well with these models. There are European nations that do so well that they can almost afford to buy everybody, not only support people through these socialistic type systems, but they can almost afford to buy everyone in their population a brand new car. So what you have quite a bit of is you have, you know, in some cases you might have maybe a group in a community of 4 that share a car through the week because they're able to afford to do this because obviously it's a smaller group, it's more money. In the token community, we still encompass a— in the cryptocurrency space, a very small pool, right? So it's much more easier to distribute across a small pool and have a far-reaching overall prosperity than it is to do So in large nations or global populations. So in saying that, I would think that the first several waves of this would work quite well in the cryptocurrency space. That's to say, it would work well in the beginning. Um, back to now making the comparison between Miko's coin and, um, Dan Larimer's EOS, um, EOS, uh, Universal Basic Income. Well, obviously, uh, the proof of participation model with Miko's Coin, although it kind of has a feel of universal basic income in that people kind of come in, you know, they don't need any money and the value kind of comes from them and their activity. So they just kind of come in and they have value, they have money, and now they're able to move it around. Through our value consensus model we, we, we use to evaluate value over several blockchains. And so, uh, you know, in, in looking at it that way, the, the reason I would say it's a little bit different, at least in concept anyway, or the differences in the comparisons that I think probably will in the end be more digestible to people and seem more fair to people is that with the proof of participation model, although it's an equal opportunity platform in that everybody kind of starts off the same, that, you know, a guy can just come in and his value, his social value, his human capital, his participation, he can create as much value as he needs to. He's not limited to by how much money there is or how much jobs available or how many tasks available for for him to do. He, as long as he can, uh, find it within himself to keep the output going, the opportunity is there. And that is because of how we're set up. The money is not condensed and limited to one token, to one area. We're tapping across dozens of blockchains and dozens of capital sources. So the end result is we can kind of tap into a type of global economy. Whereas what seems like what will happen in the Dan Larimer EOS model is you might get a similar feel to what you get in nations where you might have a group of people who have worked and they have earned a certain amount of capital, certain amount of money. And then you have this other group that I guess we could term the poor that has the need of some type of welfare assistance or charitable help or social help or something to that effect. And then it becomes this, um, this debate between we shouldn't be forced to give our money to poor people who, who need it when we feel they can go out and work and earn it just like these higher earners did it. In many cases, oftentimes without fully evaluating the political landscape, the job markets, the, you know, the various problems and machinations that can happen through a system that can bring to halt many opportunities that could exist or may not exist or don't exist. Um, and so in that way you can get this battle between these factions that say it's not fair that I'm being taxed, which in a larger group it could become this big taxable event, uh, what some people might even term as a type of theft or unethical approach to take money from one group and effectively distributed to another without them doing anything to earn it. And so, whereas, uh, I'm for the Dan Larimer's, um, EOS basic income model initially, not only because I think he's been a treasure to the cryptocurrency space, but I just think he's a good human being. I don't think he's a scammer as some people have tried to make him out to be. I think he is trying to do good. I think he's made enough money for himself and he's had, he's had enough opportunity. And like myself, you reach a point where you really want a model and prosperity for other people because it's something that happens when a person is happy or has achieved some happiness. Uh, many times and oftentimes they become aware that if other people had that, it would be a much better world. And if they had this type of happiness and opportunity, it would be better. And you just want people to feel like you feel, right? Because you're in a good place, you're in a good mood, and the last thing you want is somebody who's not, and you've got to deal with these people. So, uh, I, I think the universal basic income model is great. I think it will work initially, but I think as it grows in time, it grows larger, and as these, uh, very optimistic, futuristic, huge, ambitious endeavors go on to the point where it becomes this huge, uh, global phenomenon, I don't think it will work how they think it will work. And that's just based on similar data and information we've gathered up to this point with similar models, or as close as it is we can get, uh, you know, notwithstanding or, uh, not taking into account the idea that the fact that people are going to have possibly unlimited time just to create, come up with solutions. And I also want to debunk the myth that people won't work. You know, that's ridiculous. We have a lot of evidence that people will continually work even if they're given enough money not to work. We have many cases of retirees who went back to work. We have many cases of volunteers who work without pay. Uh, so which means that they don't need to pay. Uh, so it is a myth to make the assumption that the world will go to hell and everybody will just lay in the bed and be lazy and not work. Uh, going back to Miko's Coin comparisons and why I think Miko's Coin, uh, does touch on many of the universal basic income models and areas, but I think it stays within the realm of not going into these very political, very difficult situations. Is that first, whereas in the universal basic income model, people discuss a lot about how to pay for it, Miko's Coin is sustainable and that is already paid for by the unlimited tasks that are available to be performed across blockchains and other ecosystems that have determined through their larger economies and a combination of economies that this particular activity is worth this amount. We agree upon it through consensus and we're able to keep issuing out these tokens. And I'm, I'm not going to go deep into the model because there's videos on it already about how learn it, but we can tell you that, uh, it's not just giving people money who we think deserve it, uh, you know, it's, uh, you— it's more or less you have the equal opportunity and power to create for yourself, which is many other systems, government systems in our world and society doesn't offer you that. You can't say it offers you that because if you need employment or you need a job there is no guarantee you will have one or have any type of prosperity guarantee within the municipality or nation or country you live in. Whereas Miko's Coin is a little bit better because you can continually go out and try to accumulate these tokens in value without having the need to be presented with the opportunity by some other entity or employer or something like that. Uh, so that's where it's different, and that simultaneously solves the issue of it being, um, uh, that it being a fair, uh, to not taking away from people who, uh, feel that they have worked for the money properly and that it's just being issued out in, in effect being stolen from them. right? Uh, and so I think that's about the biggest differences, um, that, you know, I— to just condense it down, one, they're just giving you money, and with Miko's Coin, we're saying you already got the money, you only need to trade the value. So it's a little bit different, um, and this is a great topic, it's an interesting topic. I love you guys' opinions on it. I'm definitely for the Dan Larimer Universal Basic Income model. I will participate in it and use it in the beginning. I do fear the end result of it if it gets too large. And at this point in time, I think Miko's Coin will be very comparable. I think it will be very similar in many fashions if you study it and kind of see how the model works and various things like that. But that's all I want to say about that, guys. Very interesting stuff, guys. If you like content like this, don't forget to like and subscribe. Uh, don't forget to look at our contests on the Mikko's Coin website that are available now. And until next time, take care.
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