BBD - Best Crypto On Hive-Engine/ 12k kyc Accounts

Welcome back to the channel. I hope you're having a great day. So today we want to talk about why the Bitcoin MYK-backed dollar is, I believe, the best cryptocurrency on Hive Engine. Um, my biased opinion is it might be the best in all cryptocurrency, but let's talk about, uh, some of the reasons I believe that. And, uh, well, why I think that people are going to start to see a lot of practical use in the Bitcoin NYK Back Dollar. So the Bitcoin NYK Back Dollar, uh, has now hit right over 12,045 accounts. And the reason I think it grows that, that big, why there are so many accounts, is because of the Universal Basic Income project that it is linked to. So the Bitcoin MYK-backed dollar is the money. It's more of the stable money to the project, right? You kind of think of it like how in Hive, how you have the Hive-backed dollar, have the Bitcoin MYK-backed dollar. And it is a, a fairly stable cryptocurrency. Now, the difference with the Bitcoin MYK-backed dollar is that the Bitcoin MYK-backed dollar, um, is basically, uh, tethered to the Bitcoin MYK token, the native token of the platform. And the reason that that is important is it creates more use for the Bitcoin MYK-backed dollar. So if you were to think in relation to the Bitcoin MYK token being a social media network that also has universal basic income, forks Bitcoin, what's going to be important to people using cryptocurrency, we believe, is going to be the stability of the cryptocurrency. And although the Bitcoin NYK-backed dollar isn't 100% stable, its inflation, its buying power increases with the growth of the network. If you were to relate this to what you get with the, uh, US dollar, um, as the US dollar trades against foreign currencies, um, when its value goes up, it can gain value against these foreign currencies, right? Uh, essentially giving it more buying power against them, right? So that's why when you interchange your money, of course, you have more buying power depending on where you are. The Bitcoin NYK-backed dollar works in a similar fashion. As the network grows, it grows buying power against other cryptocurrencies, right? And so, um, because of the universal base income portion, we believe that it is quite possible to see millions of accounts, that the incentive will be that great, that universal base income is a hot topic. Now Um, why is it important, uh, that we have a lot of accounts and it keeps growing? And what— and I think we understand why it's growing, but, um, why, uh, that's so important to have a lot of accounts. So when you look at cryptocurrency, what you have is You have basically a, or what's needed is the accounts to be able to have these, these, these means to distribute to one account to another, or having payment gateways in order to be able to send money to many accounts, right? That's what's going to be important to a cryptocurrency in the future. And that's going to be the, um, the ability to do that, to have these payment gateways, right? Uh, that's why a project like, um, Facebook Libra coin would have been so, uh, interesting because, uh, the scale of it, right? You would have saw billions of accounts get turned into, uh, uh, essentially payment gateways to one another. And, uh, um, that would have, uh, rivaled any money transfer service, any banking service. So basically what I'm saying here is that if you have something like a universal basic income program, uh, that poll suggests where we've seen, uh, more than half of the participants opt for UBI that they'd be interested in that. You're talking potentially billions of people who would engage in these platforms. And right, you're talking a lot of value. People could use the blockchain then to do much of their banking and move their currencies and so on and so forth, right? It would— now I think where the mistake is made in many of these projects is just the idea of people signing up and participating in those projects. You need a little bit more than that. You would need stability with the currency. In these early days of cryptocurrency, we were mostly interested in speculation because it can make you rich and it can do these things that make many of us happy. But we forget one of the more important issues, which is usefulness and our to be useful, a cryptocurrency is going to have to be stable a great deal. Now we found an interesting way to, uh, uh, as the accounts gain buying power and the value comes in, to, um, as the inflation comes in, as to say that new value comes from somewhere. If you believe that the value of a social media platform grows, as more users come in, then you will believe that it also comes, um, that the cryptocurrency that's attached to it will have more value, right? That would be probably, um, the next line of your thought process. And that makes sense because again, we can go back to the Libracorn project, or what would have been, and what you would have saw is more than likely a valuable cryptocurrency. Some predict that would've been the most valuable of them all, even more valuable than Bitcoin, simply because you would've had all these payment gateways and payment channels open, you know, networks of billions of people. Just think about that for a second. If you're a merchant or a vendor, if you're a person who needs to communicate with a person and send value to a person, money to a person, like many of these online payment transfer systems, the Cash Apps as it were, then you would need a lot of wallets, right? You would want to reach— you want to reach these people, right? And so that's what could be offered here with something like the Bitcoin NYK-backed dollar. Its stability would do something many of these cryptocurrencies can't do. If you look at these cryptocurrencies, they're just hopping around and around. Now, of course, the question would be posed then, um, uh, what, how, what then would be the incentive? Because we already have stablecoins, right, that are backed by, uh, baskets of fiat currencies and so on and so forth. And so the Bitcoin and YK backed dollar, I think it answers that question. It does a great job in that. And showing basically that by moving this new value back into the cryptocurrency itself, you have this steady incline, rise in the buying power, right? Just think of it if the US dollar kept gaining strength and that new additional buying power is basically allowing people who hold Bitcoin and YKBTC to buy more cryptocurrencies, right? Because they have more value against these cryptocurrencies. Cryptocurrencies, right? And again, to understand the model, you just have to look at the payment gateways, look at ideas like Facebook Libra coin, look at that if everybody or if many people— I will say many people, we mean millions, billions— hold your cryptocurrency, that there's going to be a great amount of value with that. And we believe what we're starting to see with the Bitcoin and YKBAC dollar is we're going to see many, many people hold this cryptocurrency, and there's going to be a lot of network value built up to that. And we believe it's going to outperform most cryptocurrencies simply because they are based more on business models than monetary systems. We believe, right, we're a currency, they are businesses, they are markets of certain demands and certain niches that speak to certain people. We are a more practical, universal cryptocurrency for the use of everyday money transfer and movement. And we know we've seen many attempt this and do this. Of course, we have our XRPs, we have our Bitcoin Cashes, and so on and so forth. But not all of them lack universal basic income, the incentive to bring millions upon millions of people in. And, uh, right, it's kind of, um, it's, uh, not a lot of incentive to bring people into cryptocurrencies, and they're taking a lot of risk with their money because they're losing large percentages of their money every day because it's going up in large percentages, and sometimes they're on the losing end of that. But the Bitcoin NYK backed dollar works totally different. As the money comes in, this price stabilizes. That is the new, uh, stable point. But instead of the erratic moves and jumps, the Bitcoin NYK backed dollar, its value goes up in relation to how its network value grows, right? So if it's growing by 1% per day, then that's all you're going to see in the movement of the cryptocurrency for the most part. And that amount of stability can be very, very useful. And that's why I think the Bitcoin NYK-backed dollar is such a, uh, not only an interesting project, but would have to be one of the best, uh, just because of the amount of stability, uh, or the importance of stability in cryptocurrency projects. All right, here on the Hive Engine Exchange with the claim we're making, it's quite interesting to see that we are still not number 1 here. So how are we the best if we're not number 1? Let's see, we're 4, 5, 6, 7, 8, 9. Look like we're in spot 9 now. So we're in the top 10, but we're not, um, number 1. So why would we make such a claim? Well, Again, the Bitcoin NYK-backed dollar, I believe, will win out here in usefulness, right? What I mean by usefulness, again, going back to the Bitcoin NYK-backed dollar project is going to build more accounts, right? Because the universal basic income portion, so they're going to have a lot of people using it. They're gonna have a stable cryptocurrency. I mean, it's not gonna jump around a lot, right? It's gonna be actually useful for something that they can use. Um, it does go up in value technically, not that is the idea. It's a currency. It doesn't— in a currency, to, to, to help you understand this, It doesn't matter if a currency is at a dollar or a million dollars, it has the same use, right? A medium of exchange. Um, so that meant if, uh, the price of Bitcoin is set at a million dollars, a person moving a US dollar worth of Bitcoin is going to move the same amount. Now with that said, to understand the Bitcoin NYK-backed dollar, if you have a Bitcoin or something or another, even though, and you're using it in that capacity, which for Bitcoin would not be the best use. Probably a better example would be the US dollar because its inflation rate is pretty much fixed, um, or controlled rather, uh, in idea at least. But because the US dollar is still a popular fiat currency, is one Uh, the World Reserve currency is still technically one people have faith in and trust. Its buying power is stronger than most currencies, uh, because people still trust a lot of their money and assets in US dollars, right? So the point I'm making is that that stability is what gives trust. Now, to say that the US dollar value doesn't increase, would probably be inaccurate because it does increase against other fiat currencies. Going back to the Bitcoin MYK back dollar, the Bitcoin MYK back dollar, uh, historically it's $1.86 now. 3, 4 months ago it was at $1. We haven't seen it retrace over the last 3, 4 months. It's still holding well over $1. So over the last several months, it's, it's, it's went up quite a bit. That is to suggest it's relational to growth of the network. Several months ago, it was only 5,000, 6,000 accounts. Now it's over 12,000 accounts. Our research shows that there is a statistically correlational a, um, between the price of the Bitcoin and YK back dollar in accounts, that as the accounts grow, the value of the Bitcoin and YK back dollar seems to grow with that. Um, and, uh, that's not very difficult to understand or, uh, uh, not see happening because if you, again, if you go back to standard social media sites. The more social media accounts that projects get, the value typically increases. To give you a more clear picture of this, think about if Facebook had 100,000 accounts instead of 2 billion accounts. Would Facebook be worth nearly a trillion dollars with 100,000 accounts? Probably not. So we could make the leap that Facebook's value is correlational to the accounts it has. As the BitcoinNYK back dollar gains more accounts than most projects can gain, especially on the, uh, on Hive Engine against other cryptocurrencies, then there's a, uh, a very good chance that the value of it relationally probably increases. Now again, it's not about the value increasing. It's about having a useful stable currency you can send to many accounts and the value be preserved as it gets there, right? Now that is the real idea behind it, not speculation, not pumps, not dumps. Now, because all of those other things follow into the equation, it would follow that it would gain value because of the usefulness. Because of the usefulness. So is the Bitcoin NYK Back Dollar the best cryptocurrency on Hive Engine? Technically, I believe, although the performance shows otherwise. But keep in mind, in cryptocurrency Performance is also based a great deal on speculation, right? Which could also mean many cryptocurrencies are overpriced, and when put to the test, they will fall down because their usefulness is not quite there yet to substantiate the value of the cryptocurrency, right? So that's something to think about. Keep an eye on the BitcoinNYK back dollar. Join our Discord. Make sure you join us at BitcoinNYK.com. Uh, that way you can get you some, um, uh, cryptocurrency, start using it. Uh, you can sign up for our Universal Basic Income project and obtain, uh, some of our cryptocurrency free. But that's all I want to say in this video. If you like content like this, Don't forget to like, subscribe, and until next time, as always, take care.