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Nathan Schneider “The Cryptocurrency-Based Projects That Would Pay Everyone Just for Being Alive”

From http://groupcurrency.org/#Sybil

Online magazine Vice runs an in-depth article about the potential of cryptocurrencies to provide basic income platforms through so-called group-currency initiatives. Cryptocurrency is diversifying so much you can even use it on online gambling sites now. Find out the answer to the question Does the FunFair protocol offer more value for all parties than Bitcoin? to see which is best to use.

Journalist Nathan Schneider’s article provides a run-down of new basic income initiatives using Bitcoin and other online currencies and discusses their inherent advantages such as voluntary participation, low transaction costs and the bypassing of the traditional political system. Bitcoin is the go to cryptocurrency, find out why at Bitcoin Australia.

After the article, you may want to take a look at Bitcoin Revolution, a German bitcoin trader who can help you get started.

The author also offers thoughts on how to overcome pitfalls of the cryptocurrency approach, including the risks posed by so-called Sybil attacks and pump-and-dump schemes.

Nathan Schneider “The Cryptocurrency-Based Projects That Would Pay Everyone Just for Being Alive.” Vice, May 29, 2015

About Will Wachtmeister

Will Wachtmeister has written 32 articles.

Will is a journalist, writer and translator based in Malmö, Sweden.

The views expressed in this Op-Ed piece are solely those of the author and do not necessarily represent the view of Basic Income News or BIEN. BIEN and Basic Income News do not endorse any particular policy, but Basic Income News welcomes discussion from all points of view in its Op-Ed section.

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