Cryptocurrency eventually will introduce a global basic income
2 min read
Here are my thoughts about cryptocurrency (not just Bitcoin), blockchain, and the concept of an alternative economy based on digital money.
First of all, I’ll start early on with a big question mark that revisits me each time I join a discussion about cryptocurrency. As far as I know, in most EU countries the existing pension program is based on all of us who are actively working and paying taxes. Part of our taxation is used to pay the pensioners. Here’s where the generation gap comes in.
Younger generations, specifically millennials are brain-washed with dubious basic income ideas and cryptocurrency as a form of investment. This is more than just hype. This escalated quickly. As a result, unemployment skyrocketed, and the age younger generations decide to move out of their house and start their new independent lives.
Younger people have rejected the 9–5 job model, period. They also have started to reject the academic system and study for years to get a degree and as a result, make money and contribute to the existing economic system. Instead, the hunt for basic income and cryptocurrency investment is growing each day.
So here’s my question: What happens when all of us, who hold regular jobs, become pensioners? Who will pay our pensions after a certain age?
As far as I know, crypto investments and some, not all, basic income ideas evade taxation, therefore the message I’m receiving is that we are in a free for all mode. We do not pay a dime nor care about future pensioners since we have discovered or decided to lead a different economic plan that according to it we are getting our own digital money.
Of course, regulation by the state has taken place, I just feel that those people are working with limited information. They just hope it will work. The concept of crypto is new to them.
Your thoughts?
My final thought is that this cryptocurrency-basic-income direction will eventually lead to the introduction of a global basic income. I’m not sure if it will be the number one reason for this, but certainly, I can see a connection.
Source article here.
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