In the above video, a few examples are shown of how a WE THE PEOPLE sovereign wealth fund can be realised, at least funded. When the skills of grassroots developers, organisers and advocates are bundled, all of us have already won. We are currently building the infrastructure for a miners for basic income model to showcase at the congress “doing bitcoin the basic income way” in Kampala, Uganda, Nov 2025 (to be announced)
Why bitcoin miners for Basic Income?
Bitcoin miners are programmed to accumulate wealth from blockrewards and fees. Only the keyholder can send the money to another wallet. This keyholder can be either one person, or a group. This group or person can easily order, or program, the miner to distribute the money to the people, as a basic income. The group or person – the guardians of the miners – decide when to start, time intervals, the amount, and has the key to stop the transactions (not to reverse them).
Furthermore, bitcoin miners are relatively simple computers, designed to role the dice as fast as possible in order to find a new block in which new verified transactions are recordered on the bitcoin blockchain. Miners can work solely or in pools, in all corners of the World. When a block is found, the miner or mining-pool is rewarded with new-born bitcoin (this reward is halved every (approximately) 4 years, in a cycle of 210.000 blocks. The maximum total amount of bitcoin that can come into circulation via this “proof of work” rule, is 21.000.000. One bitcoin is equal to 1.000.000 satoshi’s, the smallest unit of bitcoin.
In addition to the pre-programmed rewards with new-born bitcoin, miners earn extra bitcoin through a system of transaction fees from the network of users. This part of the revenue depends on the so-called SAT/bite rate and the amount of bites recorded in the block. So, although the reward in new-born bitcoin is decreasing over time towards zero in 2140, bitcoin miners will continue to collect revenue from transaction fees if they continue to work to validate and secure the network.
This makes bitcoin miners perfect to fund (and keep funding) a decentralised network of wallets from which a Basic Income can be distributed to individual people. Furthermore, mining facilities can be found and set-up all over the World and everyone can participate in building and strengthening the network.
How can I participate as a miner?
The best thing to do is to participate at the next event where you can meet the community in person:
Nov 2025, Kampala, Uganda:
Doing Bitcoin The Basic Income Way
permissionless individual financial freedom with a floor to stand on
If you are enthusiastic about what we are building and have decided to let some miners work for Basic Income, it depends on your technical skills and equipment. If you already are a miner, you can use the following public key to send block rewards and/or fees to from miners you have installed for the purpose of Basic Income.
If you are not yet a miner, you can donate directly in any currency and your contribution will be used to buy mining capacity. You can also donate directly to the Basic Income Wealth Fund.
If you want to know about other options, have a good idea yourself, or have any questions, you can contact us via the form below.
