Replying to Life is launched directly on the mainnet

With what Scott says, from a strictly practical point of view, the problem is that to do this you need more state.

The state already has companies owned by it but this did not lead to UBI in the strict sense. So why should be different with mining? To do well, they could use those funds to lower some taxes.

But if we want a distribution to everyone and that is not intended for someone chosen by the politicians we should take them out of the process (which is not easy because they would give up power). And so how can we put everything in the hands of states and politicians and then demand that we bypass them with a pre-distribution?

Do I miss anything?
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Chad Lupkes 1y ago

I don't think we would need MORE state, we would need a state that actually works. Yes, governments do own businesses, and those businesses do what they are mandated to do. If a government established a charter for a company that would receive capital, use that capital to buy and operate Bitcoin miners and then distribute the profits to all citizens that live within the jurisdiction of that government, then that is what it would do. That's a basic governance system to set it up and make it work.

There's a difference between hating our current government because they are incompetent idiots doing a bad job, vs. hating the very idea of governance, which would include the pooling of resources to fulfill a goal. I don't think we're ready to tell an AI to do all the work and give humans the profits of that work. So we are going to have to trust SOMEONE SOMEWHERE to do SOMETHING.

We can take this out of the hands of politicians by building smart contracts that distribute sats that are generated by miners. Make the requirement to change those smart contracts a 99% buy in from everyone involved in the system. You'll never get it, so the system won't be changed.

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Life is launched directly on the mainnet 1y ago

To be honest I didn’t think about it but Alaska has APF and this idea could work more or less in the same way but obviously potentially everywhere.

Anyway, there is a lot of difference between government and governance.

And maybe we’ll have some illuminated government, but you really think the incompetent idiots as you call them are just in the US and just nowadays? Look internetionally and look historically.

And apart from the fact that we could discuss how much and which government would be better, do we really need them to have a UBI via Bitcoin? What if we imagine a way to do it by ourselves, decentralizing mining with some development in technology that makes it affordable for someone who wants to mine at his own home?

And we have already something that starts going into this way.