FTP011: Bitcoin and Blockchain and Basic Income, Oh My!

In the last 15 years, many industries were turned upside-down by the rise of peer-to-peer technologies for sharing information. Napster changed the face of the music industry. Search engines allowed everyone to find information in an instant. Social media networks allowed us to form virtual tribes and start huge movements. All of these were disruptive technologies: they offered a new paradigm for producing and sharing information. Unlike the broadcast era, suddenly anyone could produce, share, and spread information.
We are experiencing another shift right now, and it’s one that involves currency: enter Bitcoin.

Bitcoin: Disruptive Crypto Currency

This open-source system for exchanging value is not only getting recognition among geeks. Business big and small are beginning to accept it as a legitimate payment source. There is a growing number of startups being built around it. And even though there are those that continue to discredit it and discourage people from acquiring it, they can’t stop it. Bitcoin may be the Myspace of crypto-currency, and there may be a better technology that comes along later, but it’s changing the way we think about money. Bitcoin is an entirely new paradigm – a decentralized global currency not controlled by any governing body.

In this episode, we talk about the advantages and downsides to Bitcoin, and what role this kind of system will play in the future society. We discuss decentralization and how this crypto-currency can be a platform for other exponential technologies. We also explore the possibility of a near-zero cost economy, equal access to basic needs and guaranteed income, and creative self-expression being the key value that human beings will possess in this kind of world.

In this episode of The Future Thinkers Podcast:

  • Bitcoin and its advantages and problems
  • The 6 Ds of exponential technologies
  • Decentralization and its effect on the future
  • The technologies needed to bypass archaic systems in society
  • What value human beings will possess as technology progresses
  • Why our current skill sets may not be important in the future society
  • The need for a basic income guarantee in a world of open-source platforms

Mentions & Resources

Recommended Books:

More From Future Thinkers:


  1. It’s interesting that you see the desirability of a basic income guarantee, but would prefer networks to provide one rather than national states. I think, it would be the best to have both: Basic incomes from states and basic incomes from networks to which we can subscribe freely. Nevertheless, the role of networks will probably become much greater than that of states in the future.

    Some time ago, I thought about how a reputation based economy might work. So, I devised a system that I call Quantified Prestige and can be found at http://radivis.com/public/quantifiedprestige002.pdf

    That system is a peer to peer network in which each user can allocate esteem points to other users. The amount of esteem points one gets determines a prestige index. It is possible to couple that prestige index to electronic currencies like Bitcoin so that users get paid Bitcoin regularly out of a common fund depending on their prestige. But I found an even more interesting possibility: Create a whole new digital currency that is created by prestige itself. I call it the Fluido. It has many interesting properties. Perhaps the most interesting property in this context is that it allows to introduce a basic income in Fluido instantly as soon as the network is established: It would be simply built into the basic programming logic of that currency. Of course, Fluido would need to establish some value in the real world, similarly to how Bitcoin has done, but that is a rather secondary issue. The point is that we could have at least some form of basic income very soon.

    Unfortunately, nasty health issues prevented me so far from actually implementing Quantified Prestige in code, but I’m on the path to recovery now and hope to create a demo system soon.

  2. Adam Lake 3 years ago

    As far as I can tell crypto currencies perpetuate wealth inequality by rewarding early adopters disproportionately. If the solution does not fix gross inequality its not solution at all. I’d rather see a user friendly encrypted distributed social network without the currency or mining required. I think we need a political revolution to change the economic paradigm at the federal level, legislatively.

    • VoteAnarchy 2 years ago

      Adam, you are completely wrong in your thinking. While cryto currencies might reward early adopters, it’s a risk/reward that some of us are are willing to take for the betterment of the planet and everyone aboard it. No one in our realm of early adopters is forcefully taking from someone else in order to increase their wealth. That’s the type of wealth inequality that needs to be stopped! The biggest wealth inequality in the world today is caused by government. The Federal Reserve system? Trade Partnerships? Corporate Welfare? All of things are created by government with laws that increase the wealth inequality of the world. These laws forcefully take from the poor and give to the rich… in no way shape or form does crypto do that. You may be thinking that everyone is equal and we all live the same? I’m not for that idea at all and nor is 98% of the human beings on the planet. I want to be valued and paid with a currency that I trust and that remains in my control. There is no “political revolution” or anything “legislatively” that will create what Bitcoin has created. We, the early adopters are taking a huge risk investing in this… we’re not taking from anyone. Legislatively, they need to do what’s right and send themselves home without pay… because the people are taking back their planet and this is only one of the terrific tools that’s going to make that happen.

  3. Bruce Weaver 1 year ago

    Would have been better if you guys talked more about Crypto Currencies vs. just using Bitcoin

  4. […] blockchain is the shared database technology that underlies Bitcoin and Ethereum, and it is set to disrupt many industries in the coming decade. It’s already getting […]

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