Bitcoin Cryptocurrency or Universal Basic Income More Efficient To Solve Debt Crisis?

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There is a debt crisis globally. To me, I see a lot of opportunity in solving the debt crisis with Cryptocurrency. One of the proposed solutions to solve this debt criss is Universal Basic Income.

Bitcoin Cryptocurrency or Universal Basic Income More Efficient To Solve Debt Crisis?

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  1. I’m fine with new wealth, but I worry about how much power we should allow government to have. In a truly decentralized system, would we not take it upon ourselves to take care of each other, instead of being forced to have an outsider (the gov) do it for us?

  2. Bill Brown and technically the banks only needed money because people couldn’t pay their mortgages during 2008. Yes the banks knew what they were doing and scammed us into it, but no one forced anyone to take out all the loans for homes either. So it’s easy to blame one side. But also should look at macro level.

    I agree with you it sucks. I’m right there with you. But no problem is ever one sided either. But yes banks have taken us for a ride and their day of reckoning is coming.

  3. Bill Brown. Two wrongs does’t make a right. If you forgive all student loan debt, then why would anyone in the future pay off their student loans when they figure out you can just not pay it and it goes away. Why don’t we forgive all those people who can’t pay off their business loans too? What makes student debt more important than a business debt or any other debt for that matter?

  4. Imagine how much more money would be spent buying into crypto if the working and middle class were given a fiat Universal Basic Income of $1000 per month.

  5. Not true. As automation goes up, cost of living goes down. And how is getting money to do what you want with it lazier than programs that pay you as long as you don’t achieve too much? Some people stay on unemployment rather than get jobs, why not give them the money either way rather than only giving it when they stay unemployed? That way there’s no incentive NOT to work.

  6. Why is education in america a profit making system in the first place. So is health. 2 basic human rights.

  7. I saw a study where 1000 Litecoin investors were asked that when LitePay comes out, will you start purchasing your everyday purchases with Litecoin. I think it was approximately 95% who said no, because they want to HODL it. Im not trying to spread FUD but I want to know how Litecoin will succeed in its goals to become a global digital currency if even the closest people around Litecoin wouldn’t use it for buying?

  8. steppa money everything is free! The energy of the earth, sun, plants, and animals gives everything that anyone could ever need.

  9. Sir Swash the banks get a exception tho. In the form of bailout, in the end its socialized debt

  10. Capitalism is suffering a slow death due to globalism, automatisation and AI is coming.. it is disturbing that there are some humans out there perfectly willing to let their brothers & sisters starve to death as long as their outdated “Capitalism” idea survives, im not saying Capitalism is bad nor playing in favour of other “isms”, im saying they are all out of time, none will work with the coming paradigm-shifting, earth shattering changes. New models need to emerge.

    Insistance in Capitalism will create a Hunger Games type scenario, a small Plutocracy of very wealthy individuals that on the factories, the robots and the AI that no longer need nor want a human working force, and the vast majority without an income to survive.

  11. thegreatpotenza ‘ Well you can see this in another way. There are also “transactions” in nature. You cannot have your stomach full by just thinking about it. It is not “free”. As a matter of fact you need to spend energy to eat. So, it is not “free”. For everything else you need to make some kind of “transaction” with nature.

  12. Isnt this the issue with ALL crypto currencies, not just litecoin? I agree, who wants to spend when we are expecting a bull market, big hurdle imo.

  13. C Magnani because it takes 10 years of education to become a doctor and 4 years of education to become a teacher.

  14. It takes the same amount of time anywhere else in the world, yet in most countries doctors/teachers dont start their careers in debt. The question remains why the US allowes the educational system to be such a “money-grabbing-machine”?

  15. UBI is not a great idea but USA system is already very communist with central banking and “free” money for banks and those in power. so why not give some of that debt-based “free” money to everyone to make it fair?

  16. There’s a lot to like about UBI. It’s not just a liberal or conservative idea. Getting rid of entitlements and large earmarks for special interests. Reducing government bloat. Reducing income inequality. Simplifying government spending. It’s a grand compromise on a lot of issues that right and left couldn’t agree on.

  17. Noah Sandler Noah Sandler how is UBI not an entitlement?? The whole purpose of UBI is because an individual is “entitled to a certain standard of living”….UBI is pure entitlement and entitlement is a cancer that leads to a stagnant society.

    Mans Material Welfare is derives from a basic economic principle.

    MMW= Natural Resources + (Human Effort X Tools)

    When government owns the tools such as socialism or communism you can look through history and see there has always been a decrease in mans material welfare, and when government starts handing out welfare checks, UBI, that decreases the need to expend human effort which again leads to stagnation and a decrease in mans material welfare.

    The Ten Pillars of Economic Wisdom

    1. Nothing in our material world can come from nowhere, nor can it be free; everything in our economic life has a source, a destination and a cost that must be paid – by someone.

    2. Government is never a source of goods. Everything produced is produced by the people, and everything that government gives to the people, it must first take from the people.

    3. The only valuable money that government has to spend is that money taxed or borrowed from people’s earnings. When government decides to spend more than it has thus received, that extra unearned money is created out of thin air, through the banks and/or the printing presses, and when spent, takes on value only by reducing the value of all other money, savings and insurance.

    4. In our modern exchange economy, all payroll and employment come from customers, and the only worthwhile job security is customer security. If there are no customers, there can be no payroll and no jobs.

    5. Customer security can be achieved by the worker only when he/she cooperates with management in doing the things that win and hold customers. Job security, therefore, is a partnership problem that can only be solved in a spirit of understanding and cooperation.

    6. Because wages are the principle cost of everything, wide spread wage increases without corresponding increases in productivity, simply increase everyone’s cost of living.

    7. The greatest good for the greatest number means, in its material sense, the most goods for the greatest number, which, in turn, means the greatest productivity per worker.

    8. All productivity is based on three factors: (a) natural resources, whose form, place and condition are changed by the expenditure of (b) human energy (both muscular and mental), with the aid of (c) tools.

    9. Tools are the only one of these three factors that man can increase without limit, and tools come into being in a free society only when there is a reward for that portion of their earnings that people must temporarily channel into new tools of production as opposed to purchases that produce immediate comfort and pleasure. Proper payment for the use of tools is essential for their creation.

    10. The productivity of the tools-that is, the efficiency of the human energy applied in connection with their use-has always been highest in a competitive society in which the economic decisions are freely made by millions of progressive-seeking individuals, rather than in a state-planned society in which those decisions are made by a handful of all-powerful people, regardless of how benevolent, sincere and intelligent those people may be.

    Also to note about income equality, why is this an issue?? Yes the gap between the wealthy and poor is growing. The rich are getting richer, but the poor are also getting richer, the poorest people in America today looking back 50-80yrs who would be considered wealthy compared to the middle and upper class from back then. The richer gettin richer doesn’t make the poor poorer because the pie isn’t fixed. To proved that look the total GDP of the world today and look and compare it to 50 yrs ago. More wealth was created and that couldn’t happen in a “fixed pie” economy.

  18. Drew Roussey how come in the depression a married man with three children could support an entire family on his own salary with a job he didn’t go to school for and afford the luxuries life had to offer and now it’s common place that a couple work 60 hours each and barely survive? Why did the top 1% make 83% of the income this year? Why has the cost of education sky rocketed? You need to take the blindfold off ya sheep.

  19. The problem is not the forgiveness. It’s the fact that they are not allowed to default and claim bankruptcy

  20. All these loans should go bankrupt and these institutions that made the loans to unqualified borrowers need to take a hit for the risk they took. Same thing as subprime lending for mortgages. Housing prices and college prices would not be so expensive if these banks had to take a hit for loan defaults.

    Fact it they are being backed by government subsidies so they make everything more expensive than it naturally would.

  21. John M, you make a very good point, however the Government guaranteed the loans so the taxpayer will take the hit. The government sticking their noses in is what enabled banks to go wild, and schools to Jack up their prices. I a true capitalist society, the banks would take the hit and learn to never do it again and do a better job.

  22. I’m pretty sure you don’t know what capitalism is. Capitalism does not exist anymore. Crony capitalism and socialism is what we have. And they’re failing. And your solution is more socialism?

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