The Manna project is a universal basic income (UBI) project based on its own cryptocurrency. With its newest board advisor, Andrew Yang, Manna is seeking to boost its awareness beyond the crypto space. Yang runs for the presidential candidacy for the Democratic Party in the USA for 2020. But Manna’s new political affiliation proves how Manna and UBI are opposed to the original idea behind Bitcoin and cryptocurrencies.
Bitcoin promotes free markets – UBI is communism light
As we can tell from Satoshi’s early messages about his own project, he was highly sceptical of centralization and central banks. He did not only tell us what Bitcoin is and how it works but also why we need Bitcoin: “the history of fiat currencies is full of breaches of […] trust”. While many people from left and right and everything in between like to criticize central banks for this and that reason. Only free marketers reject the concept of a central bank by itself. And so we can conclude that Satoshi Nakamoto was in favour of free markets and capitalism. The Manna project showed in the past that they do not share this view, to say the least.
Main arguments for UBI have no basis in reality
UBI advocates always try to tell you that automation will lead to an increase in unemployment. Something that people feared since the Industrial Revolution, that people feared in the sixties and that people still fear. But it has never really come true. In fact, automation allowed people to specialize in services that we now benefit a lot from. Medical, social and financial services etc. only became so widely available because of automation.
With UBI workforce will not be directed to where it’s useful and where it can be created to fulfil the needs and wishes of customers the best. We wouldn’t live in a society where everyone serves each other’s needs. Instead, we would live in a narcissistic society where everyone fulfils their own needs without creating value for anyone else. Our society would deteriorate slowly but surely.
Manna exposes itself with its new partnership
Only a few people invest into Manna because Manna is, of course, an inflating currency that decreases in value rapidly. Who is going to finance this bottomless pit? Manna likes to promote itself as a humanitarian project that helps starving people from poorer countries. However, projects like Eat BCH or cryptocurrencies in general in Venezuela have already proven to be much more successful in that regard. And they have the potential to become more valuable than they already are. Thus, to be even more beneficial. UBI will not work on a voluntary basis. If you want a UBI you will have to implement it by force and coercion and that is by political means. That is why Manna is already looking for political affiliation. It is not a crypto project primarily, it is a UBI project using crypto to promote its ideology. Bitcoin was created to promote decentralization, Manna promotes pure centralization.