I have noted an association which disturbs me. Amongst the “Cryptocurrency True Believers” (CTBs) there seems to be a sizeable group who are proponents of UBI.
Now, I want Bitcoin to be a success. I want government monopolies on money supply to be broken. I want governments to be subject to the same financial discipline that individuals are. I want freedom.
I hope it all works.
What worries me is what seems like a “money for nothing” (MFN) aspect of the whole thing. OK, I am old and lack imagination. Governments have been printing money from nothing for years, so why not let the people do it?
Well (sadly) governments get away with a lot of things that individuals don’t.
One of the many problems of UBI is that it would require EVEN MORE “ money for nothing” (MFN)
UBI unfortunately would also require tyrannical government oppression to implement. Less freedom, not more. We all have to be open to new ideas. However MFN is not a new idea. It (like socialism) is an old idea which has never worked.
Did you know that STEEM is a currency that is expanded infinitely? More coins are printed/minted every year, forever. STEEM has been printing money from nothing for years. MFN is working right now on this platform. You are also collecting a basic income on this platform, voting power. In five days you fill up this currency without any work. And you spend it by voting. Just like you vote with your money to decide what the producers should prioritize.
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