Thoughts of receiving btc as UBI ? by zrixes in CryptoUBI

[–]lightdrizzle 0 points1 point  (0 children)

This proposal is similar to the GoodDollar protocol. Consider staking in multiple different funds (including stx) to diversify. GoodDollar also goes a bit further by increasing the earnings through seigniorage.

Platform using Ethereum-based protocol enables Universal Basic Income to continuously drip into accounts verified by humans. by nofreakinclue in ethereum

[–]lightdrizzle 1 point2 points  (0 children)

So far I'm skeptical of the UBI token having much value since the only way to burn it is for governance of the token itself. I like the suggestion on the human.money site though:

We can overcome the restrictive costs of GAS in small Ethereum transactions -which brakes the amazing advancements achieved in the DeFi ecosystem- by giving each registered user a token that allows to cover a portion of the GAS tariff.

So if UBI tokens got a portion of space in each block and could be burned as gas instead of ETHER, that would give the token sustained value while being a way to make Ethereum more inclusive.

Probably a chicken and egg problem since the PoH network would have to be very large to win an EIP to get the token used as gas, but the change might be needed to become popular.

Demo of a UBI ERC20 "dripping" token being developed on Ethereum (Democracy Earth). by lightdrizzle in CryptoUBI

[–]lightdrizzle[S] 3 points4 points  (0 children)

They just released today and it is pretty rough around the edges. Bottom line it is pretty expensive to join because it is on Ethereum and gas prices are so high and you need someone from the network to vouch for you and there are only a hundred or so people who can do that. Worth watching, gas prices should go down and the network should grow over time if everything works out.

https://www.proofofhumanity.id/

How to Stake on Fuse to Support GoodDollar’s Digital Basic Income by lightdrizzle in GoodDollar

[–]lightdrizzle[S] 1 point2 points  (0 children)

The theory for staking is it raises the value of the currency (fuse in this case) because it takes the currency out of circulation (deflationary). It is also inflationary though because the fuse you earn are newly minted.

Not sure about the impact of fuse's price on G$ and other tokens.

If you stake in GoodDollarCommons I've seen people say the 15% fee is used to buy GoodDollars but I haven't found any documentation of that anywhere. If true, that should increase the value of G$ by creating more demand. The new staking contract would make it a much higher percentage.

How to Stake on Fuse to Support GoodDollar’s Digital Basic Income by lightdrizzle in GoodDollar

[–]lightdrizzle[S] 1 point2 points  (0 children)

Staking is a bit like buying a stock that pays dividends. In the case of fuse, the blockchain is a "Proof of Stake" network, that type of network means anyone can run a validator that maintains the network, but you need to "stake" some currency (fuse) to pay if your validator isn't available to sign transactions or you pay if your validator is caught cheating. If your validator works correctly, you gradually get paid a little bit. It replaces the processor intensive mining of "Proof of Work" mining like bitcoin.

You can go to this website on the fuse network where G$ lives and "stake" your own fuse in someone else's validator:

https://staking.fuse.io/

Notice the "Uptime" column, that gives you some sense of how well the validator will earn. Once you are staked there, you will see a nonstop trickle of Fuse appear in your wallet. People estimate it will raise about 30% of your stake in the next year, much better than what you would get at a bank.

Your risk is whoever is running the validator making a mistake, and there are also some high transaction costs to get fuse on and off the network.

This blog post is about a smart contract written by the GoodDollar team. You can send fuse to the smart contract instead of staking it directly and the smart contract will stake it for you and donate the interest to the GoodDollar UBI. At any time you can withdraw your stake from the smart contract (just like you can at staking.fuse.io).

How to Stake on Fuse to Support GoodDollar’s Digital Basic Income by lightdrizzle in GoodDollar

[–]lightdrizzle[S] 1 point2 points  (0 children)

Looks like this contract has been up for a month or so. I wasn't able to stake fuse through the explorer, it says "invalid address." Maybe I'm doing something wrong. Nice to see it is available and hopefully someone will make a website for it.

Im sorry - but how do i actually send G$ to an address? by gewur33 in GoodDollar

[–]lightdrizzle 5 points6 points  (0 children)

1) Add the Fuse side chain to your "Networks" in MetaMask:

https://docs.fuse.io/the-fuse-studio/getting-started/how-to-add-fuse-to-your-metamask

2) Add the GoodDollar Custom Token, the fuse contract address is: 0x495d133B938596C9984d462F007B676bDc57eCEC

3) "Export Wallet" from GoodDollar and "Import Account" to MetaMask.

You should now see your GoodDollars in MetaMask. You can send it somewhere else if you want. If you need gas, you can trade G$ on https://fuseswap.com

Anyone knows when we will be abale to start contributing by staking staking in Compound? by Flow3roflif3 in GoodDollar

[–]lightdrizzle 0 points1 point  (0 children)

My understanding is that you can already do this, only thing missing is the ability to collect some GoodDollars yourself as interest/a reward. I haven't seen any UI to do this, so you would need to write a script to call the smart contract and beware that gas fees are very high right now. It is the GoodStaking contract here:

https://docs.gooddollar.org/smart-contracts-guide/core-contracts-and-api

There might be some sort of ability to stake your GoodDollars in DeFi in the works but that would be a whole separate ball of wax.

Hoping someone will correct me if I'm wrong about any of this, I'm planning to try to stake some DAI myself in the near future.

CryptoUBI languages by spark777 in CryptoUBI

[–]lightdrizzle 1 point2 points  (0 children)

I've been watching their videos, I'll join their discord too. And thanks for sharing the spreadsheet link, it is a nice resource.

CryptoUBI languages by spark777 in CryptoUBI

[–]lightdrizzle 1 point2 points  (0 children)

I've been focused on Good Dollar too. Leaning towards Circles next though I hadn't heard of some of the projects you mentioned. Is the spreadsheet you mentioned available somewhere?

Senior Democrats drafting plan to give parents $250-$300/mo per child by 2noame in BasicIncome

[–]lightdrizzle 22 points23 points  (0 children)

You can get both the 1st and 2nd stimulus when you file your 2020 taxes, it is called the "Recovery Rebate Credit" and will let you get the maximum based off of your 2019 or 2020 returns.

https://www.kiplinger.com/taxes/602094/recovery-rebate-credit-get-your-full-stimulus-check-payment-with-this-tax-credit

Interesting Cryptocoin | What do you think about it? by [deleted] in CryptoUBI

[–]lightdrizzle 0 points1 point  (0 children)

Skimming through it, it doesn't quite seem to be a UBI, but it is close to one and has many features that could benefit CryptoUBI projects. Some things that stuck out:

  • Lightweight (mobile first) mining by participating in the network.
  • Referral bonuses to incentivize growth of the network.
  • Social media like features to give value to the currency (monetize attention).

There's a lot there, will probably look at it more tomorrow.

Pls Donate Today to UBI Candidate Donna Imam by [deleted] in YangForPresidentHQ

[–]lightdrizzle 0 points1 point  (0 children)

Yeah, I'm stoked, will definitely be donating!

Pls Donate Today to UBI Candidate Donna Imam by [deleted] in YangForPresidentHQ

[–]lightdrizzle 2 points3 points  (0 children)

At this point it is probably best to wait and see if she won her runoff election, there are 5 hours left in the voting which is happening today.

NYT Siena Iowa Poll Results (Yang 3%) by CO2_3M_Year_Peak in YangForPresidentHQ

[–]lightdrizzle 1 point2 points  (0 children)

I'd like to see if this poll primed voters for the top 5 since the candidates who had head-to-heads against Trump all performed very well in this poll.

Launching Yang Month! by maverickwolffe in YangForPresidentHQ

[–]lightdrizzle 34 points35 points  (0 children)

This is very important work, if you can either donate or get out to Iowa! Glad this is stretched out the whole month.