UBI Vs UHI - Only Way To Make Everyone Wealthy?

Welcome back to the channel. I hope you guys are having a great day. And so today's gonna be an interesting video. We're gonna get into universal basic income versus universal high income right now. I'm not exactly sure where this phrase is coined from. I've— the first person I've heard to say it is Elon Musk. So I'm assuming maybe it comes from him. And so we're going to review a video today about how Elon Musk came up with this, you know, this concept of universal high income. So it should be a very interesting video. Probably some of you are surprised to see yourselves here, the Universal Basic Income community on Reddit, right? When I do a Google search, it comes up as probably one of the biggest Universal Basic Income groups online. Uh, and I'm shocked that, uh, as I review some statistics of saying something like 70 to 80% of the globe would prefer a Universal Basic Income, would opt for one. And I think many of us can see why that, why that is, um, especially the times that we're living in now. But it is surprising that so many people would opt for it, but You know, this should be probably one of the biggest groups in the universe, right? So probably a billion people on here. And, um, so we got to find out what's going on, why people haven't seemed to put topics like this up there with, uh, some of the most, uh, serious topics and concerns, uh, right now. We're gonna explore that just a little bit, try to get into a little bit of human psyche of what's happening with that. Is it a feeling of hopelessness? Is it that feeling of one person can't make a difference or they can't do anything? That could be it. But we did get a question here from someone who said, do you think universal basic income on a blockchain could be the solution, right? And this is gonna go into the topic today dealing with technology and universal high income. So very, but, uh, very important stuff. Buckle your seats, let's get into it, let's talk about it.

Something all of us have admired, first order thinking, which Jensen sometimes calls first order scaling, which is an opportunity for how you have dropped The cost of batteries from $1,000 for kilowatt-hour to sub-hundred bucks. And right now you're doing the same thing with robotics for actuators with servo rotors and motors. So I want to hear from you, how do you manage to always disrupt every single industry with that thinking?

Well, so this comes from Forbes, right? Elon Musk, Forbes magazine, Forbes media. And of course they're talking with Elon Musk and it seems what they're saying so far here is that Elon Musk has broken into so many different arenas and he's went to the top of them, succeeded at them. And so thus he must be a person who knows what he's talking about. And going upon the data, we'd have to go along with that because that's what we seemingly are seeing.

Not disruption, it's creation. So with, say, SpaceX with the reusable rockets, there really weren't any reusable rockets. But the essence of getting— of revolutionizing space travel is reusability. If you throw the rocket away every time, the cost of access to space is extremely high. With respect to electric cars, there weren't any electric cars when we started making them, really. You couldn't buy any, to the best of my knowledge. So with Tesla, we wanted to make electric cars compelling and affordable. That was the goal. The, uh, you know, with respect to humanoid robotics, there are no useful humanoid robotics robots at this point. Um, there are sort of gimmicks, but there are not— there are no actually useful humans.

So let's stop right there. Right, right along what I'm getting is Elon Musk in every area he went into, because he was so successful and went to the top, is because he saw fundamental problems in those areas, right? And so he's now on robotics, right? So we can imagine his direction is going to be the same where he's going to come in with these robots, useless robots. Probably 90% of robots are useless except for the ones we might see in manufacturing plants making cars and stuff like that. But very intricate human-level jobs that would require humanoid robots, we haven't seen that yet. So with Tesla Robotics and the things he's doing in that area, if he can solve that problem, My assumption is that he's not only going to solve that robotics issue, he's going to solve the human labor issue, right?

Robots. And I think Tesla is going to make the first actually useful humanoid robots. And this will be quite a revolution. And I think something that everyone will want. Because I was thinking, like, who wouldn't want their own personal C-3PO, R2-D2? Oh, yeah? Of course, everyone would want one, right? And, and then there would be many in industry providing products and services. This is why I say that humanoid robots will be the biggest industry or the biggest product ever, bigger than cell phones or anything else.

So he says the biggest product ever, right? So he's mentioned Star Wars, right? C-3PO and all that, the humanoid robot that walked around. It's kind of like the butler to Luke Skywalker. He's the butler. He's the, you know, the friend. He's everything, right? And you could kind of imagine a weird situation where you have these humanoid robots that you can send out to do your jobs. What are you doing while they're working? You're home, right? You could be monitoring them, teleoperating them or something to that degree. Or you're basically, if you can't afford one, you're renting one. So it'd be kind of similar to How it kind of works with, you know, maybe how truck drivers work in the trucking industry, right? They go buy their own truck and once they buy their own truck, they have their own trucking industry and money and so on, right? So basically the robots, you being in control of the robots. Now this of course is an entire different scope than companies controlling all the robot IPs and such, right? So now this is creating a distribution mechanism. I want you to pay careful attention to the word distribution mechanism because that's gonna come up several times in the video and it's very important. And that's why Elon Musk is saying this is the most important product ever in the history, over cell phones, over everything.

Because everyone's going to want one, and, or maybe more than one, and there'll be many in industry. Um, R2-D2 and C-3PO's body. Yeah, well, I mean, a humanoid robot will be better than R2-D2 and C-3PO combined. Yeah, times 10. Yeah. So the— and, you know, people often talk about eliminating poverty and that kind of thing. But really, the— how long have they been talking about that? Um, there's lots of talk.

I want to stop right there. Listen to what he said, right? He said that the robots would be 10 times better than what you saw in Star Wars with those crazy droid bots, right, that make those robotic moves and they can do very simple things. He's, he's talking about very dexterous robots that are better than a human, right? And we've seen that already. We've seen that with companies like Boston Dynamics, these robots hitting backflips, these robots moving faster than a human, these robots being uploaded with these language models, IQs starting at 140, smarter than a human. So that's all, you know, moving towards solving a huge problem of human labor in distribution. Now, who does this remind you of? As I'm on the basic income Reddit group and I'm arguing with many of you all day, which is something that we shouldn't be doing. Universal basic income community should all be working together, ready for fresh ideas, ready for solutions. But Elon Musk is saying here, how long have you guys been talking about this? In other words, Elon Musk is saying you guys aren't doers, right? And I'm finding that to be true because I hang out in these universal basic income communities. People talk all day, but they do absolutely nothing.

There's lots of NGOs sort of trying to do these things, but really not succeeding. And, you know, the evidence speaks for itself. But AI and humanoid robots will actually eliminate poverty. And Tesla won't be the only one that makes them. I think Tesla will pioneer this, but there will be many other companies that make humanoid robots. But there is only basically one way to make everyone wealthy, and that is AI and robotics. Is your credit under 600?

Oh, sorry about that, gang. I thought I had paused the video. Um, yeah, and so, um, you know, looking at that And thinking about distribution of these robots being basically these distribution machines, right? These videos, I'm sorry, these robots basically being able to go out, work for you and distribute money to you, right? You no longer have to do it. And Elon commenting on this is the only way you could possibly see everyone wealthy. Now we think about universal basic income, basic income, the bare-bones minimum, your basic needs, maybe food, maybe a roof over your head. The numbers that they're putting out there for universal basic income, I think we're all pretty uh, much on the same page of that won't, uh, be enough, right? Um, that you're not gonna be able to live off $1,000 a month. You're not gonna be able to, you know, to have basic needs really met. It's more so supplemental. But, uh, let's talk about today, um, um, basically, um You know what distribution, right, could look like. Uh, as Elon Musk said, AI and robotics. Now, when we say artificial intelligence, we're talking about programs, algorithms, where we talk about humanoid robots, right? We're all categorizing this into the same, uh, area, right? Uh, As to say, we get there, right? We get there when we're using the technology. So what generally has happened with basic income is, I'm gonna take you through this in a second, but explain why we're on this page. But what typically happens with universal basic income is we tend to wait for the government to have all the solutions for it. Here's the problem. We are the government, but not only is it just that we're the government, it is also the idea that the government doesn't really solve problems, guys, or it doesn't really create jobs. It doesn't really create technology. It's really just pretty much enforcing taxes being taken and pretty much just, you know, making sure certain federal services be handled. But as far as the entire ecosystem, the society as we were, a lot of this is being carried on by, you know, your private organizations, your jobs and such, and how you make a living and how you live. You're basically dependent on a corporation to house you and feed you, right? It's not the government that's housing and feeding you, it's these, many of these corporations out there. And if you have your own AI products and services, if it becomes to the point it's decentralized, right? Follow what I'm saying here, meaning that it's out of the big corporations' hands and big government hands. I say big corporations because the big corporations also kind of work hand in hand with the government, almost like there are several independent governments, right? But it's almost like several independent governments. You're under the tyranny of these, uh, you know, of these governments, right? So it's only when you be— it— everything gets decentralized, right, and everybody has the power that you're able to, uh, basically, uh, uh, have this kind of universal wealth. And that's the difference I think is going to be between universal basic income and universal high income is that in universal high income, the machines, you controlling the technology and owning it, owning your own 3D printers where you can pretty much manufacture pretty much everything you need at the house, right? And a lot of people don't believe we're going to get into a, we're going to see a world like that where it's a robot economy. But I think they're wrong because remember, there's a lot of people who know how to make robots. right? And so you could in essence start to have a situation where, uh, people, companies, uh, nonprofit companies just start making robots, right? And, um, these robots get into the hands of people and they're doing the job of several people. And, uh, remember also the cost of robots will come down, right? They will come down greatly, right? It'll be like buying a car. Right? You'll be buying a used robot like you buy a car. So what I'm saying is that it's going to be many of the universal within, I think, the scope of universal high income. Mind you, Elon Musk never mentioned anything about the government implementing this technology and distributing you that. And again, I'm not saying it's anything wrong with the government by the people, us coming together and us demanding that of our government, getting our basic needs met by something like UBI. But what I am saying is the problem with the universal basic income community is that I'm finding, and I think this is going to change, I think it's just a reason that they're behind. You're always behind in new thoughts, ideas, in a new world, right? We didn't really— a lot of people didn't know what UBI was until around 2020 when Andrew Yang started running for president for it, right? A lot of people had no— people still today ask me what it is. They don't even know what universal basic income is. So I think that's a, a good reason why the progress of UBI has been so slow. My issue is with the people who do know about it who are having trouble uh, with UBI, which fits so much so into a futuristic idea, but they are so behind on technology. And this takes us back to the question we got earlier from the Basic Income Community: do you think UBI on a blockchain could be the solution, right? So here's the thing about the blockchain. People tend to think of it cryptocurrency with the blockchain, Bitcoin, things like that. And then next comes into play scam, somebody getting scammed on a cryptocurrency going up and down. But where they missed the whole boat is the technology that is more safer than your bank account, that's moving value, that's distributing money in these currencies and so on. They missed the boat on how that can be utilized and controlled, right, by anybody. right, that anybody is important. Because most systems, right, most payment systems, most federal payout systems, Social Security, uh, and all that various things that the government issues payments to people, right, stimulus checks, whatever it is, uh, is handled by a central system that is only controlled by the government, right? And but what happens when anybody can do that, right? So you could have much more wealth. You could have probably something akin to the universal high income Elon Musk talking about when you couple that with robotics and AI. Now we already have AI. People are using it from their homes. That's, that's an example already of you using a robot to work for you. You hear about it all the time online. Somebody's used the AI to generate income, right? And whereas a lot of these are gimmicks and frauds, The core idea that this is possible is still very much realistic, right? So why am I on these UBI platforms? Of course, I'm trying to educate people and help them to see the light on these various things and topics. But projects like I'm involved with BitcoinMYK, as you can see, it is a distribution ledger. It's like an everything app coupled with social media. Some people think of ideas like WhatsApp. People are walking around China using WhatsApp to purchase everything, right? They, they don't even— a lot of people in China don't even use money, right? They're just— and that's the kind of world we're moving into where everybody's going to control their own monetary systems, their own groups and communities where they can distribute this money. Now, if the people are the government, we don't have to wait to do this. We can do it now. We only need people to be educated enough to understand. So education in that area is going to be very important. But there's also a stubbornness in the UBI community that works more back to what Elon Musk suggested, and that is the, the people who aren't making progress, right? The do-nothings, right?

The new—

the do-nothing groups. And unfortunately, a lot of our biggest advocates for UBI who's kind of leading the charge, they're part of that do-nothing group. And as Elon Musk said in the video, it is very apparent that that is the facts because we can see the results of their actions, right? So, uh, projects like BitcoinMYK, it uses an algorithm, right? I'm gonna take you over to the wallets and just show you a little bit how it works. Sorry about that, I want to show you guys how I transferred some value over and I just did that, all right? I don't want to hold up the video, but I just sent some funds to another account. And like you see, my balance dropped here. I sent $1,000 of this money, right? And I'm gonna take you over here to the wallet because I want to show you just how this works. You can see people using the site, they're doing Various things. This is an algorithm that's doing this, by the way. And if I come down here and I take a look here, right, you can see where I transferred $1,000 of the money, dollars of the money. But you can also see here that people are getting paid, you know, for viewing a page. They got a coin for updating their profile. See, all their normal social media activity they're doing is being— the energy is being converted into money. The algorithm knows what task they're doing and it assigns a value based on an algorithm that kind of balances out an equation of how much the value of their action and their contribution to the platform was. And this goes back into the pot, right? This is AI, right? This is an algorithm, right? Robot, whatever you want to call it. But it's based upon the same lines. And guess who is controlled by normal people like you and I? So in a world where people— everybody's going to be using AI and robots and everybody's going to be creating their own value, they need a way to move that value to other people, right? And that's what's going to be happening. And this is basically what this is. This is basically a new monetary system. Now I know a lot of people watching the video are going to say something to the effect of, um, well, um, you know, with all these robots and all this technology worth billions upon billions of dollars, right, only the important people are going to control the money and the technology, right? These robots and AI, the nobodies, right, like us, we aren't going to be able to do anything. That's why we sit on in groups of mega corporations and talk about what the kind of things we could do and nothing gets done because we believe that, right? But we miss very important key notes in things like what Elon Musk was saying. And hey, Elon Musk, I love him. You know what I mean? I have my issues with him. Some things he does I like, but the reality of the situation is his, uh, record is a proven record, right, with what he's done. So what that does is that gives him a little bit more, uh, uh, uh, uh, what, um, for lack of a better word, expertise on, on the subject, you know, on the subject matter, right? So he is the person who's been discussing UBI for the last several years. This new idea, UHI, you know, Universal High Income. And so he isn't someone who just hasn't been looking into this, right? So he's been, he's been doing this for years now, right? Much like many of you. The only difference is he's made a lot of progress. You all haven't. So the, the next part is, whereas a lot of people say, oh well, the corporation got to control this, We're nobodies who can't do anything. Hold on a second, because one of his key points was that this technology will become so cheap, right? The cost will come down that people would be able to access it. People, the robots are going to bring the cost of labor down and so on. And that wealth, that wealth is going to be created, but it needs to get circulated back to us. So you got to still need systems to do that. Unless you're gonna just depend only solely on the government. And again, this is talking about this not being an either-or situation. We got to get out of an either-or situation. Like the person asked the question earlier, is blockchain technology part of solution? Yes. Why is it part of solution? Because if we transfer money value to everybody in the globe, right? One of the biggest issues throughout the history of man with money has been the ability to counterfeit money. It is nearly impossible to counterfeit money over the blockchain. These are immutable contracts on the ledger, right? And so that's why it's so important. Remember, They've been counterfeiting everything from gold. They've been from early antiquity. You put your gold in a vault, they say it's in there. You go check, it's not in there. They're still collecting money. They counterfeited paper dollars. They had something called the bartering stick. They counterfeited it, right? Blockchain technology is solid because at this stage in the game, it can't be counterfeited hasn't been counterfeited yet. And that's why products like the Bitcoin blockchain has risen to such prominence, right? And so that's where we're at with that, guys. I would like to hear what you guys think about universal basic income versus universal high income. And do you think the only way you can do anything about this is if the government steps in and solves the problem only for you? And Uh, if you feel powerless, right? Um, if you feel, uh, like you can't do anything, why don't you join us, right? It's people just like you who have found a way to use this technology to be able to move on a level, um, in a safe way, in an actionable way, like mega corporations and like the government and such. And if you don't like us, right, if you got a problem with us, check with other similar products, right, and services that understand this at a more sophisticated level, for lack of a better word, because that's what it's going to take, guys, in order for us to make progress with this. But that's all I got to say in this video. If you like content like this, don't forget to like, subscribe. Don't forget to visit us over at BitcoinMYK. We'd be glad to chop it up with you about, uh, subjects like this. Until next time, as always, take care of yourselves and each other.