Universal Basic Income Ep.8 - Crypto Mass Adoption?

Hey you, welcome back to the channel. I hope you're having a great holiday season. So we're going to try to do this a little bit different this time. I'm actually laying down in my bed and hopefully my voice won't be distorted or give you any problems. I've never tried this before, so I don't know what it's going to sound like or come out Like, but, uh, I think the next few months for me gonna be quite busy, and so we may have some of these videos done from my bed, um, uh, giving my, uh, final thoughts of the evening, right? So, uh, we're gonna try to do episode 8 of Universal Basic Income in this format, in this style. See how it goes. And we're talking about cryptocurrency mass adoption in relation to universal basic income. So this is an old article some years back, and I remember reading this article some years ago, written by— I'm gonna try not to butcher her name— Fabiana Sessin, Ketchin, Season. And this was during a time when, you know, this was kind of entertained by EOS, and this is pre-voice. And so Voicemeets seems to be some type of amalgam of universal basic income and using these, uh, this happens quite a bit in cryptocurrency when they try to do a universal basic income project. I think the, the idea being that, uh, you know, if you're gonna give all your money away free, what's gonna happen is the value is gonna kind of cancel each other out because it's the idea of people don't want to pay for free stuff. And so oftentimes these systems end up closed loop, like kind of what you get with, um, um, voice, right? How voice works is you can't buy it, you know, good dollar, same thing. You can't really buy the cryptocurrencies. You could just distribute them and get them free. And they'll probably have some type of internal system where you can— within the system itself, there might be prizes or rewards, or it might be like in the case of Voice where you're going to have positioning of your articles and it's kind of on a merit-based system. So you don't have to worry about like somebody with more money than you having a larger voice than you. So I understand all of that, and, uh, right, those are interesting systems. Uh, I think that they could have done a little bit better, many of them that are going this route, but you know, in their idea about it, you cannot, uh, it doesn't seem to me that they really feel you can monetize universal basic income. But I think what they have to understand about universal basic income is it doesn't equal void of capitalism, right? Universal basic income can actually be capitalism that doesn't start at zero. So why they seem to come out with these exact same systems about how to have this internal universal basic income project instead of just having like a standard cryptocurrency which you can trade on exchanges. Um, you know, they have various reasons for that, but I would choose a universal basic income program that goes with the latter, that functions like a standard cryptocurrency. It's just that the participants get some free every month like a dividend, right? And that's the only difference. But I found this article interesting and some of the concepts she wrote about it. So I just want to read a little bit of the article and, and, uh, get some— come up with some thoughts on, um, you know, how people see universal basic income throughout cryptocurrency. Because I think a lot of people just see it like some type of socialism. They don't see it like something's going to make money in a variety of things. So Let's see what the author has to say about it here. And we'll try to link it in the description in case you want to read it in its entirety. But the author goes on to write, no, universal basic income is not communism. Universal basic income is getting the customer of your currency hooked for life. It's the ultimate airdrop and the ultimate form of marketing. That's a powerful paragraph, isn't it? Getting them hooked for life. Where have you seen this before? Probably seen it with your— many of the major services you use, maybe the Amazons or your internet service providers, where they're giving you all these offers free, giving you free trials, giving you free Netflix. And there's a lot of free stuff going on. And after a while, these companies are so huge and they have so many people in their network that as far as determining value, it doesn't really matter, right? People have a really hard time understanding that a blockchain isn't real life. But a game that is played inside of real life, and that does have consequences in real life, but that it isn't real life itself. Um, they're talking about EOS. I don't really want to talk about EOS because that— we kind of saw what happened with EOS, and EOS didn't maybe live up to a lot of things a lot of people wanted. But I understand you you know, how the universal basic income idea got into EOS. But they go on to say universal basic income is the same thing, and it looks like they're comparing it to the constitution over at EOS. Um, let's see what it said. For example, the EOS constitution is not a real constitution. It does not regulate real life bodies in real life. Society influences society by its indirectly, so it's metaphorically a constitution. You can totally use the same words provided you can see the difference. Universal basic income is the same thing. A cryptocurrency UBI is not a real life universal income. A real life universal basic income, just like a real life constitution, affects everyone. A real life universal is usually paid for by a non- voluntary government by way of non-voluntary taxation. Real-life UBIs are an excellent idea, but that's not the point of this essay. Even if you are against a real-life universal basic income, which is dumb according to the author, you should not ever be against a UBI in your favorite blockchain, because a UBI in your blockchain is the most potent most ubiquitous way the game has adoption. Nothing else compares to it. And so let's stop right there. I have to agree with the author on a lot of what they're saying, void of the EO stuff, um, you know, you know, about the relationship of First, they, they say universal basic income isn't like what real life universal basic income would be like, and that's true. First of all, if you're doing universal basic income over the blockchain, obviously it's going to be totally different than what a real life— and that's, uh, a problem I see with a lot of, uh, cryptocurrency people when they speak of universal basic income over the blockchain. All of their examples and comparisons are that of a real-life universal basic income. So there's going to be parameters and elements on a blockchain universal basic income that obviously won't be comparable to a real-life universal basic income. The taxation won't be there, uh, the non-voluntary status won't be there. So there's just vast differences, right? But at the same time it does share some of the elements of the real-life universal basic income idea, and that a lot of people are going to be using, you know, and want to try it out. And so that can equal mass adoption for those particular blockchains. And that's one, um, vast argument I've, um, we've raised, you know, with our project BitcoinMYK, and that, uh, many of these cryptocurrencies out there in blockchains should be welcoming, uh, Universal Basic Income coins or tokens on their chains because, you know, oftentimes they already lack any type of mass adoption. They have difficulty keeping a base. People aren't incentivized to use them, and they don't have a lot going for them that's going to move them into a direction like that. So, uh, whereas the author calls them dumb, I won't be so mean to say they're dumb. I will use words more like they're ignorant, um, as to, you know, what universal basic income could do for them in that capacity. Um, and, uh, you know, I, you know, I think if you just really take a look at, you know, what's happening with, um, uh, how universal basic income could impact the blockchain that you will probably, if you let this sit with you a little while and roll it, roll back the video a few times, then it probably would, uh, sit with you as well. Um, is that, uh, you know, universal basic income is probably gonna be the answer, right, to a lot of problems. They're going right here, but it is not communism, or but is it communism? Real life universal basic income is not communism because that is obvious for anyone who is minimally educated. On both universal basic income and communism is that not at all common common sense. Blockchain UBIs are especially not communism because communism, just like constitutions and universal basic incomes, are terms coined to describe processes and policies for the politics of real human lives in the real world. So I'm— I got a little bit lost in that. Um, I think this author makes some good points, but Um, maybe I'm not, uh, congesting a lot of how they're writing this. Let's read a little bit more. There's no problem of real systemic disposition, dispossession, and real social injustice in the blockchain, which is a community getting together to operate a free-floating IOU simulation game known as cryptocurrency, sometimes with currencies that double as voting tokens and resource reservation shares. When a blockchain boots up Nobody gets poorer as it does not consume any significant amount of real-world resources. With the notable exception of Bitcoin and its transactions that cost 1 megawatt or $100 each. Um, a blockchain is a private currency, simulation game, a virtual world that can be replicated an unlimited number of times in an unlimited number of servers. Virtual worlds spawn their own space and thus do not need to conquer existing space to express themselves. Therefore, when a blockchain pays a UBI for the new human identities it can ascertain, it's not paying those UBIs from a treasury that's provisioned through non-voluntary real-life tax currency systems that people cannot opt out of. It is doing so because it's the shareholders' voluntary— because the shareholders voluntarily decided it is good business. And they decided it is good business because they read this very essay. Okay, I like that part. I like the idea that, you know, what they're saying here is that, uh, you know, obviously universal, universal base income over the blockchain would be voluntary. So you skip past— and this is why I've always said universal base income probably would work best on the blockchain. That'd be my first choice. But, you know, seeing that there's this border of entry, right, uh, with, uh, uh, cryptocurrency for the normal people, you know, uh, it's probably likely that they'd adopt it first on a government level. And then I, I would foresee something like the many shortcomings of universal basic income being done over the government and And then they would say, well, probably work better over the blockchain. I, I think they would— I don't think they could just arrive at point A like I think our project has done. I think they would have to go through several of these processes, right? But obviously it's not taxed. The, the, the way that the currency is generated— well, we know some people use terms like it's generated out of thin air, uh, whatever terms you want to use or whatever systems you want to use. These cryptocurrencies aren't generated, uh, under the decree of a government or something or another like that, right? This would have to occur more like some type of social pact, social agreement, right, in society, which I believe can be as valid as any other monetary system. Real life society, the place where governments and governments live, is forced, convoluted, always legacy consensus process that directly reflects the average level of awareness among an entire population that is within a physical reach bubble. In contrast, blockchains are nimble, fully opt-in consensus mechanisms. If you don't like the mob rule of all other stakeholders, then just dump your shares and go away. And thus all blockchains, games, simulation, virtual world, by definition, lack the power to oppress its participants. Blockchains are anarchic, or libertarian if you prefer. Businesses with voting shareholders, and the voting shareholders are those who hold the coins. And the first blockchain business with a majority of voters that can understand that a virtual crypto UBI is the best mass adoption that any currency can hope for will win the next decade of the crypto wars. And I really like that part because when I look at our project BitcoinMYK, for me it is a no-brainer that we will defeat and we will win every cryptocurrency out there, including Bitcoin, right? And there's just fundamentally fundamental reasons why that's probably more likely than not. I'm not saying necessarily we will, because, uh, there's a lot of unforeseen occurrence that can happen within the project, within, um, the geopolitical space. But what I am saying is that there's a lot of, um, there's things that are quite fundamentally solid about what this author is saying and about what we believe and what I think many universal basic income projects believe, especially, um, at the present situation of what's happening in our, in our, in our worlds, right, with pandemics and people not being able to work and virtual learning and virtual cashiers and, and all this. Now It's saying here, and I, I don't want to get into the EOS thing. I was trying to keep this general because a lot of this article was about this dream of, you know, EOS doing this universal base income. That it never really did. But I think you're starting to get the gist of, you know, what's being said in this article about Universal Basic Income. And it's so very interesting here. I want to read a little bit more here because, um, I don't know, it's pretty darn interesting. I don't see a lot of extensive writing about Universal Basic Income over the blockchain. There have been several Universal Basic Income projects that just haven't quite got there, right? Um, and, uh, I, I haven't read all their white papers, but, uh, I, I don't think they were quite as interesting as this article. But I think this article does hit on some very, um, important ideas, uh, you know, and, and some maybe I need to investigate. But I get where the author's coming from. And, um, you know, I would say that this is likely how the average person is going to think about, uh, universal basic income and its incentive in to, to get into cryptocurrency. I think, you know, right now unfortunately it's just not a lot of incentive to, uh, to participate in cryptocurrency. I was reading an article earlier and I commented on an article and, um, you know, they're just talking about how cryptocurrencies don't have significant use cases and until they do we're not going to see— and, you know, uh, they don't, right? They don't. And, you know, people just aren't incentivized to use them. Uh, in the West, uh, the banking systems, the financial systems are still pretty good intact. And, you know, in order to make cryptocurrency really work, an idea is you have to create a dystopian-like future idea, and that's just not happening. You have to create a, uh, a censorship uh, uh, situation monopoly with businesses and social media groups and the Facebooks and Twitters where they're going out and they're censoring everybody. But the reality of the situation is that doesn't hold up well because that's not what's happening. Oftentimes people who are being censored are the more, more radical extreme people that In some cases, people aren't sure if they want them around anyway. And so, um, that's why the people stay on these networks, because these narratives aren't hitting closer to home, or as close to home yet as they, uh, would need to in order for them to— doesn't mean that it can't happen in the future, or that it isn't gearing up to happen, but it does mean for that narrative to be effective that there's going to be need to be more than just this dreamt up idea of what can happen. So you got a different idea about maybe universal basic income over the blockchain. Um, is it a mass adoption vehicle? Well, let's think of it this way. If you were to go out into the world right now and ask most people, if it was possible for them to receive a universal basic income payment, an additional check each month to help them to, uh, meet, uh, you know, financial needs, to meet, uh, you know, whatever emergency needs they, they may have. And this was given to them just for their contributions as a citizen, just for being a citizen. They have to do anything else. How many of these people, you know, would reject that? So many probably would, um, opt for that. You know, the other problem is we've always had a poor distribution, um, situation, or it's gotten at least worse in many countries, in many Western nations even. It's gotten worse over the last few decades. And so now people are like, hey, you know, as we move closer to this neo-feudalistic dual economy, that people are more open for things that are going to create better distribution. And that could be UBI as well, that could be universal basic income as well. So my thoughts are most people are going to opt for this or be interested in this, right? And we see that happening now in a around the world. So does that spell mass adoption? It probably spells closer to mass adoption than any cryptocurrency project you're in, given the, uh, situation of many cryptocurrencies, how they are with very few decentralized application users, with very few users altogether. Even if you take something like Bitcoin, you're probably looking at about 50 million wallets. You know, that is far from mass adoption and is far from being impactful to the world. And cryptocurrencies like Bitcoin become more corporatized, they become more controlled by banks and less by the average person. And so in that respect, you know, many of the— even like Bitcoin, I wouldn't even see as a cryptocurrency of the people at this stage. I see it more as an institutional product. But mass adoption, will Universal Basic Income get you there? I don't know. What are you guys' thoughts on it? I think you know mine, but what are your thoughts? Uh, that's all I want to say in this video. Just real quick, BitcoinNYK.com. Let's get you over there real quick. BitcoinNYK.com, our version of universal basic income over the blockchain. You can get your free wallet app and start receiving these valuable cryptocurrencies. Um, while Bitcoin's doing Pretty darn good there, isn't it? And we won't go into detail about the differences and with Bitcoin and why can't Bitcoin and why it's very important. We would ask that you subscribe to the channel, get more information about how you can get this free cryptocurrency of value. That is our attempt to create a workable universal basic income solution over the blockchain that could possibly work better than if it's done at the government level. We will see, but you can try it free, um, and we would, uh, hope that you would. But anyway, if you like content like this, don't forget to like, subscribe, and as always, take care.