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It depends what you mean my 'enough to live on', because you can live on very little or no income, but you won't live well. At our current state we cannot provide enough for everybody for free, this might be possible in the future, but not for the next 50 years. Basic income does not fit well with our current system, it would be wiser to invest that money into useful projects such as free healthcare, education, transportation in my opinion.

The problem is that basic income is not enough. Most of the people who will receive it will still need and want more. This means they will still be looking for work, and will be willing to accept lower wages, because they have the basic income. This will in turn drag down wages for everyone and end up as a tax-payer subsidy for employers - effectively, part of wages will be paid by the government/tax payers through basic income.

A very similar idea to basic income has been tried and failed miserably because it ends up as employer subsidies.

If you are willing to work for X money a year, and you get a basic income of Y money a year, then you will be willing to work for X - Y money per year if other conditions don't change. This is will end up as tax-payers subsidizing corporations in the long run.

https://en.wikipedia.org/wiki/Speenhamland_system

A very similar idea to basic income has been tried and failed miserably because it ends up as employer subsidies.

If you are willing to work for X money a year, and you get a basic income of Y money a year, then you will be willing to work for X - Y money per year if other conditions don't change. This is will end up as tax-payers subsidizing corporations in the long run.

https://en.wikipedia.org/wiki/Speenhamland_system