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Bitcoin provides basic income without governments

The options are limited in the future. We can choose basic income from governments in the form of welfare, or basic income in the form of mining cryptocurrencies like Bitcoin. We either survive on politics or on technology. There is no way we can compete with AI and machines and it is inevitable that all workers will be replaced. So if all workers know this, then you can live and die by the whims of the corrupt politician, or put your faith in technology. I've put my faith in technology and that is why I support Bitcoin.

Politicians in the United States can't even pass a budget during a deficit crisis. The harder you work in the United States the deeper in debt you get. The farther you look into the future the sooner you are to being replaced by a machine. Bitcoin is the beginning of a necessary paradigm shift and while Bitcoin might not be the ultimate cryptocurrency, it's the first and will go down in history as the first experiment in the most practical way of solving the jobs crisis. The jobs crisis wont be solved by education, it does not matter how educated you try to get, nor will it be solved by having a high IQ, or by working hard, because no matter how high your IQ, no matter how hard you work, no matter how educated you try to be, you'll be surpassed by AI which will eventually be smarter than any human and maybe even smarter than all of us combined, and by machines that never get tired and don't make mistakes.

Productivity increases from human beings no longer matters in the context of the old world economy. The factory worker is going to go extinct, so is the farmer, so is the officer worker, then the doctor, the lawyer, the judge, until every kind of work is done on a computer by an information professional and then eventually the AI will be smart enough to program itself and then it's game over. It will design upgrades for itself, it will 3d or even 4d print it's own organs, it wont need us.

Slavery costs more than electricity. Since electricity is cheaper than slavery, there will be no reason for human beings to do work unless they truly want to. The only reason to work now is to solve real world problems. The only reason left to work now is to save the world.

Saving the world starts with providing a basic income for all

Without a basic income then people cannot eat, get educated, have health care, have spiritual growth or political liberty. If you're every waking moment is struggling to make the next waking moment then there isn't any time for anything else. Part of the reason human beings throughout our world cannot focus on the bigger and tougher problems is because the majority of human beings struggle just to maintain and subsist. Basic income can also be described as a social dividend to distinguish itself from the negative income tax with the difference being that the basic income is applied to everyone rich or poor while the negative income tax is means tested usually and susceptible to laws such as drug testing all who receive it. Bitcoin mining and cryptocurrency mining isn't centrally controlled, the code is the law which defines it's scarcity.

Beyond basic income

Wouldn't you want a robot empire? Wouldn't you want an army of robots to run your business? If you start a business wouldn't you want robots to do all the jobs as you command them? Eventually everyone will be able to have robot empires but not all of the same magnitude. Capitalism has to change but it will not completely go away. Each robot, each AI, it can charge money and get paid for doing its virtual labor or robot labor. But robots cannot get paid in dollars, silver coins or gold coins. You can pay robots in cryptocurrencies, in digits. The digital is a language that robots understand and electricity is what they need to survive.

Energy requirements

The main issue with Bitcoin is that it's not very energy efficient. When we think of a world where robots do most of the work, where it's populated mostly by robots, where robots vastly outnumber human beings and all are connected to an Internet utilizing the IPv6 protocol then we can understand that Bitcoin as it is will not be able to handle enough transactions per second nor would be it energy efficient enough to handle mining. Finally after a certain point (21 million Bitcoins) there is nothing left to mine which means it puts a cap on the limit of possible basic income unless that income is generated by transaction fees which means in the long term Bitcoin will become progressively more unattractive to consumers. Proof of Stake based coins such as PPC (PP COIN) and NVC (NOVA COIN) and upcoming coin NTC (NET COIN) solve the problem of energy inefficiency related to using Proof of Work.

PPC in particular allows for an unlimited amount of coins because it has no cap, and if the difficulty algorithm works as intended then the inflation rate will stay low, but because there is less incentive to mine PPC due to it being based around SHA256 and the invent of ASIC it just isn't going to remain easily profitable for individuals to mine until after Bitcoins are fully mined and then PPC might take over when Bitcoin transaction fees rise. Novacoin on the other hand is based on scrypt which means it's inherently profitable to mine right now on the GPU yet it still offers Proof of Stake making it energy efficient as well.

Novacoin in particular has a bright future once Litecoin reaches it's peak and is mined out as Litecoin like Bitcoin will have to adopt transaction fees making it unattractive and driving people to Novacoin.

Netcoin is really the enigma in the mix because it has not been released yet but I mention it because if it does work it will be the best of all, it will have a mixture of different hashing algorithms making it profitable to mine for a long period of time, it will have a cap in total coins which means transaction fees may become an issue someday but the rate it reaches that cap is determined by the inflation rate which at this time is an unknown variable. To solve this problem of a cap causing high transaction fees there will be a democratic process to alter the parameters of the coin itself built into the coin and while I do not have the details on this it will be this process which could solve the majority of these issues. Finally there is the fact that it is hybrid Proof of Work and Proof of Stake and because of this it will be profitable for miners and energy efficient.

Basic_income | Bitcoin


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