Bitcoin Is Universal Basic Income – Universal Bitcoin Income

TBM Topics

Share this article

As the economy gets worse, we’ve seen certain countries rich enough to do so, create universal basic income in certain instances; this could be through a 1-time stimulus check or through a payment protection plan for a more extended period. Regardless of how it is done, the premise is the same, give people free money so that they can live their lives, pay bills and survive.

The reason governments have to give out this money is because people have been hopped up on consumption in an inflation driven world. They have no savings; they have no assets, all they had as next months paycheque which already had designated destination as soon as it hits their account.

As these issues continue, governments are looking to extend even more generous programs to people and are thinking of moving to a UBI. A universal basic income, this can be done in several ways but what they want is for people to have the cash to spend into the economy. One so that they can survive and two so that their money stimulates economic trade and builds businesses to service these peoples needs.

Spending other peoples money

When we give away money or especially other peoples money or purchasing power through stimulus cheques, we not only create a moral hazard with more people not willing to work but we also give people the means to spend on consumer goods instead of saving. Why would I need to save if I get a cheque every month? I’m sorted; this means people never actually use that money to try and get out of that hole.

How many people are going to try and live as sparingly as possible and use that cheque to create savings they can use to create a small business or travel to apply for jobs and use it as a springboard. Yes, some will, but will it be enough to warrant the countless billions stolen from people to get others to become people who get stolen from hopefully?

Yes, your reward for defying the odds will be you get to pay for the next person that’s hopefully going to follow your path.

Spending other peoples money is easy, saving other peoples money is hard. Spending your own money isn’t easy; saving your own money is easy. When people feel they earned their money they’re more careful on how they spend it; they know the labour it took to acquire it, so they’re not willing to part with it for a shitty deal.

When they get given the money they’ll blow it on rubbish; this is why you would see frivolous consumer spending on products that don’t improve the economy but rather destroy it.

Being a citizen and not a consumer

Currently, many of us are more consumers than citizens; we’re not acting responsibly or trying to build a better country for the future, we’re just trying to get by until we die. That kind of life does not help improve society with many people not able to accumulate anything of value as they only work to pay bills.

To be a citizen and sovereign individual, you need to have savings, things that are yours, that allow you to make decisions and not have to be dependant on anyone or anything.

Savings gives you a choice and freedom to express your preferences. Rich people have more say in the country because they have savings; it’s as simple as that. The majority have no say because they have no savings.

Why BTC is the better UBI

Savings are important but saving in a medium that can be inflated away or taken from you is not how you end the cycle of poverty. When you take some of your income and turn it into BTC, you protect yourself from any sort of wealth confiscation and yo build a savings tool that gives you power, gives you choice, gives you wealth you can pass down to friends and family.

BTC s a UBI that improves as the protocol continues to run and provides holders with more value over time. It encourages saving, it encourages holding off on purchases and evaluating what is valuable to you. BTC teaches us how to be citizens and strips us of the consumeristic side we’ve fallen into as a society.

Bitcoin is not only UBI, it’s a new way of life!

Disclaimer: This article should not be taken as, and is not intended to provide any investment advice. It is for educational and entertainment purposes only. As of the time posting, the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency, as all investments contain risk. All opinions expressed in these articles are my own and are in no way a reflection of the opinions of The Bitcoin Manual

Leave a Reply

Related articles

You may also be interested in

BTC ZAR Escape Hatch

Bitcoin The South Africans Escape Hatch

South Africa is becoming a hotspot for Bitcoin adoption; with a high internet penetration rate and a population looking for alternatives in an economic climate

Pros/cons LN banks

The Pros & Cons Of Lightning Banks

Xapo Bank’s recent integration of Bitcoin deposits through the Lightning Network (LN) marks another step towards the adoption of Bitcoin by tradFI. For some strange reason, this dirty

Cookie policy
We use our own and third party cookies to allow us to understand how the site is used and to support our marketing campaigns.