What is Mannabase and Why You Should Join (Universal Basic Income Experiment)
While I think Universal Basic Income is a joke and will only promote laziness in a country. Universal Basic Income, from what has been explained to me, is just a "cheaper" way to help those that are on hard times by using this money to replace social platforms such as unemployment, food stamps, etc. I may sound cold-hearted, but in my opinion, the cheapest social program there is would be to just reduce taxes and let people decide how they want to spend their own money.
A friend of mine @captenredbeard is a proponent of Universal Basic Income and tells me it's the way of the future which makes me roll my eyes. However, one thing that he told me about that got more of my attention is a cryptocurrency that is experimenting with a universal basic income called Mannabase (manna).
What is Manna?
Manna is a Blockchain that's currently implementing a Universal Basic Income that currently has a 10-year reserve according to there whitepaper. I was surprised to see that the cap of the coin supply is just under 2.5 billion and that only 30% of the coin supply is for the basic income.
Along with a basic income they're looking to implement a social aspect to the platform so you can connect with others to help raise money for other non-profits or charitable groups. A second thing that they're working on is categories that you can contribute to through targeted giving. Some examples they give are people in Puerto Rico (maybe after a natural disaster), clean water organizations, and top 5 poorest countries.
It appears that Manna (which was previously known as a Grantcoin) rebranded at the beginning of this year and has doubled down on making this project a success. Sign-ups have skyrocketed since the rebranding and it seems like the team is working on making the project and the blockchain more robust. Manna is currently POW (with very small rewards) and is considering going to POS and implementing more technology from the Ethereum blockchain as well as releasing an advanced proprietary blockchain in Summer of 2019.
My Experience so Far
I've been signed up for a few weeks now and have received some mana from the previous two distributions. If you've been enjoying this article so far feel free to use my referral link to sign up. I've received 66 Manna so far worth about $1.20, but for something I'm getting for almost nothing I really can't complain so far.
Really the USD value of manna doesn't mean much currently. It can only be traded on southxchange and only has a volume of 28,000 Manna (about $500). Another reason the USD price doesn't matter much because you can't currently send or receive any Manna for the online wallet.
Improvements I'd Like to See
It looks like on the website they have a desktop wallet, but since the distribution goes to the online wallet, I'd either like the ability to send my Manna to a desktop wallet or at the very least, add 2-factor authentification to my account. I don't really see security becoming a big issue as I don't expect the price of this crypto to go through the roof, but if it does, it's always nice to have a little extra security.
With the rewards for mining being so minimal I don't see a lot of people mining this coin. With that said I wonder how easy/hard it would be to take attack the chain and how secure it actually is using a POW algorithm. I'm not sure a POS is the answer, but think it could be a better solution to help secure the blockchain from outside attacks. I'm no crypto expert so feel free to disagree or tell me why I'm wrong on this, just sharing my thoughts on this based on my understanding of how POW and POS work.
SOURCE
It needs to be on more exchanges. I like how part of the distribution (20%) is going towards growth incentives and hope that part of that will be by creating rewards programs for helping Manna getting listed on more exchanges. One advantage of being a POW coin is that exchanges maybe more likely to list it over POS coins that may one day be considered a security.
What I Like so Far
The sign-up and verification process has been relatively straightforward and easy. The website, whitepaper, and infographic look very well put together and professional. This with the increased number of sign-ups since the beginning of the year makes it seem like this project has a lot of potentials. @sircork, maybe worth reaching out to the team to see if @youarehope can somehow be implemented and receive manna from this platform as a non-profit organization.
SOURCE
The company is also a 501(c)(3) nonprofit which qualifies it for tax-deductible donations. Seeing as how you will somehow have to quantify receiving this coin on your taxes, it's nice that you can give back to the community and receive a tax break for giving back to something your excited about!
5.70% @pushup from @gniksivart
I've been very excited about Manna as well, I'm looking forward to the additional features. I'm on the fence with the Universal Basic Income debate.
You didn't even mention WHY I think it's the way of the future! Even people like Elon Musk agree... automation, and things like AI, are going to completely eliminate jobs. And you can't say that "oh, those people will just learn to work on the robots", it's not going to be that simple. There are dozens of social issues than can be solved by a basic income.
Regardless, I didn't say it was for sure the way of the future. I just think it's the best idea I've seen that is looking to the future and actually coming up with a solution. Rather than just dealing with today's problems and figuring the rest is for future generations.
While I hate the concept of Universal Basic Income you just have to look at current trends in the workplace and realize we got a problem. Humans are starting to require an income level that surpasses the cost of full automation.
Not to mention some of them while you point out will be lazy on something like Universal Basic Income already are check out and could care less about where they currently work. They show up late, do as little as possible, compline they don’t get paid enough, and then find another place when they get fired to do it all over again. So there is a point that there are major areas in the workforce that are starting to become so ineffective they are not worth keeping anymore.
I personally think taxes should be lower for people. Too many greedy companies paying next to nothing while the hard working guy is in the poor house losing everything he owns; meanwhile, unable to get basic necessity in life.
I’ve already signed up for this one because why not free coins. Strange enough its not the first kind of thing I’ve been sign up for. One of my followers bought me 1 shares worth of steembasicincome a few months back . I’m screwed if I ever have to reply to such things “has upvoted your post! ($0.023).” Which I think points to the bigger picture of the issue. Where is the money going come from to fund and make things like that be worth more than just a few cents ever? That’s where it all seems to fall apart.
Automation was supposed to reduce everyone work weeks down to 15 hours a week by now or something crazy. Now days I don’t know many who are working less than 50 hours and not struggling unless they are already retired. Even then they seem to need some hours a week just to keep that going as well.
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