Backstory 🧐
In short, UBI means: money is given to everyone to cover basic expenses. Everybody qualifies, no hoops to jump through. And, of course, it’s up to you if you would like to supplement the income and earn more money.
My story starts about 11 weeks ago. And, living from UBI was never the plan.
Confidence in Idena had grown, quietly, since the start.
A Universal Basic Income is just 1 of Idena’s use cases
Add corona virus + lockdown into the mix. Opportunity & curiosity collided, here’s how living from $DNA rewards went.
Dear diary… 🖋
To really get into this story… I suggest to pop this link in a new tab and take a listen: Nina Simone & Lauryn Hill — The Miseducation of Eunice Waymon
by Amerigo Gazaway
It’s my soundtrack for the coming days. Helps me relax, and write. Here’s hoping it improves your reading experience.
UBI day 1
The night before, I pitched the whole UBI idea to my girlfriend. She wasn’t convinced, neither was I. Anyways, I woke up and bit the bullet.
This is how it started, maybe some mis-placed confidence, who knows. Anyways, let me now if you think this is a “real question”. I was tweeting as I went along. I’ll let them do the talking for now.
It goes without saying care givers and hospital staff are heroes 💚 so are all key workers, thank you. In the U.K. we have NHS, with free scrips in Wales. In terms of living from a UBI of ~$4 per day. I would find it difficult if I had to buy my $2/day meds over the counter 💚NHS
The moment I realise that UBI is no silver bullet. There are people out there who are in worse situations than me. They may depend on an expensive support systems. For them, UBI will not be the only solution for their basic needs.
In short,
- A cautious start. No extravagance. And, being careful not to use too much electricity.
- A very minor sacrifice, no milk in coffee.
- With little money, but with more coming soon, I prioritised free activities. Like tidying the office and listening to music.
- Then, this happened. “I grabbed a can of Pepsi from the fridge without thinking… 50c. I’m realising I’m blessed and fortunate & at the same time… how crucial UBI would be to so many.”
- I finished the day on a high, with $3.70 spent all day.
UBI day 2
Right off the bat, not great start.
Electricity use over last 24hrs was 13.8 units that’s $1.90. This means yesterday day 1 total spend was $5.60. I’m over budget. Breakfast today will be basic …
I was surprised to be honest. Cut backs on electricity and food & drink. See day 2 in servings of 280 characters or less.
A world first? I don’t think this needs an explanation.
I’ve been tricked into drinking a huel. Gf said it would be really cheap. Drank it and then did the maths. $1.50
This means I’ve spent $6.30 today so far 😓😓😓 I think I need to supplement my UBI. Think brain, think!
Oh SWEET!! Thank you bro :D see this people… my man T.H. here, possibly on the other side of the world has just bought me a damn heul. By sharing some of his UBI with me! This👏may 👏be👏a👏world👏first😎 #idena Idena
Thank you T.H.
Also,
A creative side emerged with a plan. Planting seeds and doing woodwork. I was running out of money. From tomato seeds would grow ripe tomatoes to supplement my meals. And, could I make something beautiful from wood to sell?
At the end of the day I created flips ( what? ). This is still possible with some debt, it doesn’t take long, uses little electricity. It does however need a computer and internet. Luckily I have that covered. It’s a potential entry barrier for some. In the future a smartphone may be sufficient.
UBI day 3 — The game-changer day
Some good news, & a usual start to the day.
Boosh! Only used 6 units of electricity yesterday 82c — less than half of the day before. It’s day 3 of living from Idena UBI of $4 a day. I’m over budget but… I will be back on track later. Breakfast 80c. Feeling fortunate 💚☮️
It’s validation day
I have 2 alarms set on validation day. One to let me know in the morning. And one about 30 mins before the session.
Now, getting mise en place for Idena validation (UBI) in 30 mins.
Laptop charger
Low fi beat tape
Hot drink 20c
As a quick reminder… the validation session is when everyone on the Idena network will solve the flip puzzles. There’s a short ( quick-fire ) session where you’re given 6 to solve in under 2 minutes. Then a long session where you can take your time to solve them. This is also your opportunity to report any bad flips, please do your part to fight bots, follow the instructions and don’t be too lenient.
The session is complete, it took me about 25 minutes — but you can take up to half an hour. Soon after you are able to see the rewards:
- For submitting flips
- For validating
- For giving invites
As you can see from my tweet. I wasn’t expecting that much. I was also relieved that I was now in credit. I had some spending or saving money!
I did the math
Eating like a lord over here thx to Idena UBI. I got $73 today. Ty also everyone in Idena discord chat, and wouldn’t be possible without qTradeio Legit very happy right now. And feeling lucky.
Enough about me. Zooming out to the bigger picture, let’s look how the whole network has grown. As people activate invites, numbers increase every validation. We just made the new taller lines on the right.
Epoch 40 = 1336 validated identities. Happy days!
… up about 20% on last week, looking like steady sustainable growth 💚😎
UBI day 4
A quick update for this day.
One for the geeks. I buy parts for a future project.
Idena rewards and UBI… can afford me these 2 x used SSDs ($30). I will add these to an old ThinkPad workhorse. Then make it bomb proof (?) with RAID-1 & a literal metal box. Not sure to air-gap it or try online with @QubesOS . I will tweet my choices and discoveries ☮️
And one for gamers. Up, Down, Left, Right, Hold A, Start.
Still feel like I’m living in cheat mode with Idena.io #UBI. IDC about adding up food costs rn. I feel wealthy. Enjoying this for a while. Fear not i will record and post my spends soon
UBI day 5
“Day 5 of trying to live from UBI by Idena. All is going well. Still waiting for signs of life from the tomato seeds. Spent $15 on phone topup yesterday. Will listen to Spotify in the shed while I schoolboy error my way through woodwork. Have a good day (if that’s even possible)☮️”
UBI day 6
I stick to the budget meals throughout the day. In the evening I eat take away. Without having to be too careful about money.
This evening I feast like a boss. It looks a lot like spending $10 on @JustEatUK + soda with huge ice cubes 😎 Thanks to Idena #ubi ☮️
UBI day 7
I decide I need to write this article. But, it really needs an introduction. I take a step back and write my first ever Medium article on this day.
Evening rolls round… It’s been a whole week! I do a little celebration as I take the last electricity meter reading. It’s `47694.9`.
Totalling it all up 🧾
Outgoings
- 7 breakfasts with coffee 95, 60, 80, 95 * 4 = $6.15
- 7 budget lunches 40 + 30 +45 * 5 = $2.95
- 4 budget dinners $1.60
- 1 dinner with burger and loads of veg $4
- Coffees, milk, huel & Pepsi $2 + $2 + $1.50 + $0.50
- 1 take away $10
- Twitter tip $10
- Electricity 47694.9–47629.6=65.3units, 65.3*13.8=$9
- 2 ssd for a future project $30
- Tomato seeds $2.50
- Mobile phone top-up $15
Total outgoings for the week are $97.20
Did I come in under budget or what? Let’s see…
$73 from the validation session and $26 from mining.
My incoming money from Idena was $99.
But waaaiiit! 🛑
The eagle eyed of you might be thinking. But, Davey, you surely that’s not right. What about other stuff like bills for internet and your rent.
You would be right. I have simplified this challenge a little, I’ve ignored the fact I have rent to pay, water and gas bills, car maintenance and the minor fact I have 2 children to feed 🤭
The points still stand 🕴
- There is a global UBI system in its early stages right now. And I’ve shown it can work.
- UBI is not the silver bullet for all, it’s not a replacement for other forms of support.
- IMO there’s clearly untapped potential in Idena, UBI and otherwise :)
And, then 🚘
Exchange rate fluctuates, and cashing out of $DNA to local currency is not simple. I’ve not gone into detail on these topics, but, I haven’t forgotten about them. It’s material for a different post :)
Still learning 🌱
I’m going to be the first person to say. Yes, I’m still learning, and the week of UBI has been a massive learning opportunity for me.
I would fully love to hear how you think you would have done. And, maybe even see you try the challenge. Depending on your life-style and where you live, it could be a doddle or near impossible.
Thank you so much for reading this far!
Please stay safe ( and consider trying out Idena UBI ) ☮️
