Could crypto be better for poor people then basic income?
It is my believe that in a free market where we all play by the same rules poor people will naturally gain more wealth relativily compared to rich people.
Perfect case in point: the crypto-market. Take this site, steemit.com, where people get rewarded for the articles they write. You could easily make a few dollars on a good quality article. Imagine what this could mean for people living on a few dollars a day.
The current financial system is shaped for the rich few. Poor people get overcharged for simply having a bank account, while millionaires and billionaires use all kinds of tactics to avoid taxes and fees. The "decentralized" crypto-market levels the playing field!
A few months ago people around the globe had the opportunity to gain $30 in Dash currency(worth about $50 today). A lot of people from poorer parts of the world participated and gained more wealth in a few minutes, then what the make in a week's time.
Another effect of a free decentralized marketplace, is that people are more willing to contribute to charitable causes. In our current system, charities are corrupt and people are stressed out about there own financial health due to increasing taxes and regulations. In my opinion this make people less prone to giving to others.
I personally think that a global basic income has one big flaw in it. It doesn't account for the fact that giving away currency on a permant and regular basis, makes the currency worth less and less. Logical result is enormous price inflation for basic necessities like food, water, housing, etc. A ZERO SUM GAME!
If you want to be part of a financial system free of (central) banks and government, free of manipulation, taxation and regulation, I welcome you to the cryptosphere!
helo
sorry if i write like this but poor people are poor because theyre usualy stupid they dont know how to handel money and dont think every cent if you keep it its wort millions they just think a but this is cheap i bus this what is cheap usualy comes out more expenisve
Stupid like not being able to handle the dollar--money-system-stupid. I acknowledge literacy is a key factor in this, but what's the point in learning a language and skills if your odds are skewed from the beginning.
look i saw people lifing in the dumpest places worst than this picture and if you belife in youeself you get out if you adapt the situation you will enjoy life with youre sciety youre suroundet
anybody who wants to cahnge his life its just hard you have to sacrifise more than others but its possible just the system dosent show it because its useful having all typ of money clases
Unfortunately, that's not how it works. Read this study for example.
As for basic income, I'm not sure why you're assuming it's global. Universal basic income will most likely happen nation by nation just as universal health care happens nation by nation, not globally.
Also, your inflation assumptions are flawed. There are far too many variables in the equation to just assume massive inflation. Please read this article to get into the weeds on that one.