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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.
Is it distributed to everyone that lives in the area as a UBI?
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.
It might be better to distribute the profits from the energy use rather than the Bitcoin itself. Although I don't socialist policies such as this are a good idea in any way shape or form.
Or that, but I doubt there'd be much profits there (cutthroat industry, rewards competed down to break-even or less)
Probably unrealistic. It would be interesting to try though. Maybe for a small country or city.
so a btc soverign wealth ubi?
IDK if it's possible, but it would be interesting. If they don't find a block for a few days people start starving
Imagine a country using its power grids to mine Bitcoin and then distribute the rewards to it's citizens.