RE: Learning to Receive - Basic Income sources - Can you let it in? by whatamidoing

I think UBI is a noble pursuit, I don’t see how the idea thatnwe need to work hard to survive makes much sense given where we are at as a species and competition always has losers so if want to be humanitarian about it , competition should be an optional pursuit for luxery only. The problem I see with UBI is that in what most people call a “free market”, it will most certainly lead to inflation and fail to solve the problem as landlords and producers will know people have more to spend. You’d need to compensate for that with rent control and standardizing the price of food, health care, and basic needs. I’m ok with all that because I believe that if everyone could have it, everyone should have it, and I don’t believe a free market is the most telling factor when assesing how free a society’s is, but many people do. Perhaps if we can move into thinking in abundance, we can find a way to make it work.

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@indigoocean · Mar 24 '18

I've always had the same objection, that if everyone had $1k more per month, within a few years everything would just inflate in price to the point that life caused $1k more per month to live. I've had UBI folks try to break down the math for me again and again, but it never makes sense to me. No matter what you do with the math in terms of how you fund it, you can't account for this market rebalancing that is inevitable, unless you mandate fixed pricing. That might work someplaces with socialist economic systems, but for me here in the US I'm not seeing that happening anytime soon. 

But once you introduce crypto into the situation you've got a different dynamic. That's because it isn't really going to be universal. Really, some people will sign up and some people will assume that if it is free it's a scam or at best a pie in the sky dream. They only trust fiat currency. So it won't be everyone. Meanwhile, in terms of funding it, well so long as the coin is traded on exchanges you can have investor speculation set a value relative to other currencies, including but not limited to fiat. As soon as you have the ability to trade in and out of the coin, but you don't have to wait for a government to issue it, you have a sustainable model. Then you just have to get people to use it enough so that investors consider it to have value.

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