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35 sats \ 2 replies \ @cointastical 10 May \ parent \ on: IF there was UBI who would fund it? econ
That already happens. Bitcoin revenue from private mining ops paying for excess electricity generated permits the utility to lower rates for all ratepayers. This happens in Texas, Kenya, and elsewhere.
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0 sats \ 1 reply \ @OT 10 May
Is it distributed to everyone that lives in the area as a UBI?
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0 sats \ 0 replies \ @cointastical 8h
Of course not. UBI is something completely else.
What I'm describing is how mining uses excess generation capacity, which increases the financial performance of the producer (generation), who then can lower rates charged to the utilities, who in turn lower the rates charged to the consumer.
Nothing universal about that. But it is fair.
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