BBD Coin Breaks $1.59 - Nobel Prize In Economics?

Welcome back to the channel. I hope you're having a great day. So today I want to talk about the Bitcoin NYK back dollar has now broken over $1.59. And, uh, right, that is because of right now the, um, base pair cryptocurrency is trading against, um, the Hive cryptocurrency. Um, there's something going on with it and there's been a big run-up in price and it's, um caused the Bitcoin NYK-backed dollar to go, um, some points off its peg of what would now be about $1.59. So very interesting. As we have been discussing, the Bitcoin NYK-backed dollar is this unique product, uh, and it was created, uh, out of trying to create one of the most perfect cryptocurrency products we could think of. And, uh, the Bitcoin on my KBAK dollar is this hybrid of a stablecoin that kind of goes up in value. And I know that's kind of weird to think about or try to even understand, because usually when you're thinking of something that's going to be, uh, have stability, um, it's going to be at a fixed price, generally around some type of fiat currency, or, uh, or if it's a cryptocurrency, it's generally going to be fixed to a cryptocurrency that probably has a great amount of stability, probably something like Bitcoin or Ethereum or something. Um, and now with BitcoinNYK, BAT does this very unique cryptocurrency that, uh, it started at around what would be a dollar, uh, a dollar, uh, a US dollar Um, and, uh, that was a few months back, and now it's at $1.59. And it— when it gets knocked off its peg, it does readjust back to its true value. Uh, but there are periods where you can see spikes, like with most stablecoins. That's another thing— most stablecoins aren't per se stable. You know, you have some stablecoins that if they're pegged to a US dollar, they might trade slightly below a dollar. So Sometimes they might trade slightly above $1, or sometimes they could trade quite high, be beyond $1, like 20 points or more. So, um, with Bitcoin NYK backed dollar, the way it works, where it's a little bit different, is generally when there are these price movements in the stablecoin itself, let's just think of something like Tether. Let's say Tether runs up from $1 to $1. $1.19, $1.20. Well, generally it's going to readjust back to the fixed dollar amount, right? With Bitcoin and YKBAT dollars, when that happens and it reaches new price points, um, we basically keep that. But also what's causing that is there is an inflation from the growth of, um, the Bitcoin, um, MYK network, right? And this is where it gets a little bit confusing but makes a great deal of sense if you really think about it. So one of the biggest problems and concerns in our cryptocurrencies have been, um, how do we gauge the value? How do we know what the value of these cryptocurrencies are? And we run into a lot of issues because we don't really know what they are, right? And so it causes us to not know where to buy it, where to sell at. And this is greatly different from what you get in traditional investing, the stock market as it were, where you can go into a company, I can analyze the assets in those companies and the liabilities, cash on hand, and I'm able to basically know if that company is of value despite what the market trading value may be, right? The market traded value and the book value can be two different things, right? So it really doesn't matter what happens in the market. I can always go looking at companies, uh, on that company's balance sheet, and I know what's happening. Can't do that in cryptocurrency. We don't, we don't know. So this is where the Bitcoin MYK, um, cryptocurrency is so unique and probably one of the best cryptocurrencies in my biased opinion out there, because what it's managed to do is, uh, right, it's tied to what's essentially this, uh, social network, right, uh, that is part of the network itself or the, or the blockchains that it exists on. And because accounts and networks out there in the real world, there is a value that can be gauged from it. You can take Many social media accounts and value something like if you took Facebook and you start to come up with valuations like they're $400 an account and so on and so forth. If you apply that to cryptocurrency, then it helps establish the baseline of what your cryptocurrency might be worth. Now, it may not be perfect, but it could be a, a very valuable metric to add into that. And because BitcoinNYK BackDollar could do that, it can kind of go through this controlled market of the BitcoinNYK BackDollar linked to the native token of the platform, which is the BitcoinNYK token, which when you're holding the BitcoinNYK BackDollar, you have the right to redeem the BitcoinNYK BackDollar for a BitcoinNYK token at any time. And that's where the stability occurs, because what it means is the BitcoinNYK cryptocurrency. And let me see if I can find it here because it should be right here on the same exchange. There it is. This is the BitcoinMYK native token to the BitcoinMYK platform. This is the part you really need to understand and pay attention to. This is what you need to understand. The BitcoinMYK native token, when you hold a BitcoinMYK BAT dollar, it's going to always, uh, give you the right to receive the BitcoinMYK token market value for your BitcoinMYK-backed dollar. So let's just say, make it real simple, let's just say a BitcoinMYK-backed dollar was worth a dollar, right? You look at BitcoinMYK, the price is a bit over a penny, and so that would, that would, uh, give you the right to over 100 or nearly 100 BitcoinMYK native tokens that are linked to the social network as the accounts come in that give it value. And that's how we can kind of have a know-how of what the value and the price is. Now, also I put in the video, should the Bitcoin NYK back dollar and the project overall win a Nobel Prize in economics? And my answer is, as far as cryptocurrency goes, probably yes. That is biased, but if you really think about it, what we've managed to do here is we've managed with the BitcoinNYK back down. I'm not going to go into deep detail about what it's about because, uh, you're probably best subscribed to the channel, watch all the BitcoinNYK, uh, content related videos, and you get a great understanding of that. But what it's managed to do is it's managed to do something I haven't seen down here before yet with a very important topic, universal basic income. The demonstration of, uh, one of the best uses for the blockchain is universal basic income. The The right that everyone deserves a basic income. Everyone deserves this global currency to be able to move outside of government control and bring economic prosperity any place in the world. Now nobody's doing that. And if they're doing it, they're not quite doing it on a level like this because the Bitcoin NYK project, it covers a lot of ground, a lot of territory, a lot of interesting theories, a lot of tokenomics in this. And I know when people really find and understand it, like many, they get blown away. But there are this kind of, you know, a lot of cryptocurrencies, a sea of cryptocurrencies, and they all make promises. And, you know, they all, a lot of them get pumped and dumped. And so that holds people's attention, right? It's kind of like what they did in ancient Rome to distract the crowd from the big problem, and they would have bread and circuses, right? And the BitcoinNYK project is a real project. Trying to solve real problems. And I think doing that and going after the, the, the end user and mass adoption of people who are going to really use this thing and gain value from it, this is significantly different from a lot of cryptocurrencies that are either too highly technical, don't create enough urgency, and just don't really make a significant argument for why we need cryptocurrencies, right? So the Bitcoin NYK Backdater does that, but where I feel it needs to win a Nobel Prize, not only will it bring economic prosperity globally because it will have one of the best distributions of value across the globe, but it does something we cannot do in cryptocurrency, and that is find a way to be able to gauge the value of these cryptocurrencies in a realistic way. You know, I'm not talking about, uh, really poor distributed cryptocurrencies with a few whales who've managed to keep the projects afloat. I'm talking about a cryptocurrency that will really matter to most people in the world. And right now, universal basic income, um, is, uh, globally accepted. Over 50% of the globe is already approved of universal basic income, right? And so because of that, we believe that we have found a market that's going to support this project. You know, I can't stress the importance of creating this kind of new economic system going into the 21st century, really exploring the area of that where I our systems are quite outdated economically, the structures. They aren't well equipped for the 21st century. And this video, I can go on 3, 4, 5 hours just talking about our economies over the last hundreds of years. But I think it would be, it's so much to unpack. You really need to subscribe to the channel, come into our project, get this free cryptocurrency. That's another thing. It works on freemium services, right? You come in, you get it free, you start to distribute it across the globe. And it just does so many other great things. But should it get a Nobel Prize? If you could, we could come up with an economic system that made the world a lot more healthier, that did it with one of the hot topics out there right now, universal basic income, in an effective way that could be funded outside of taxes and governments, like how we could do it within cryptocurrency with the likes of Bitcoin Bitcoin and Ethereum, so on and so forth. If such a project could exist and was structured in a way where it could do those things, would it be eligible for a Nobel Prize of sort in the, in this type of economic dynamic system? And I could be wrong, maybe it wouldn't be, but some have theorized universal basic income to be one of the greatest, biggest ideas in the world, right, in history, championed by some of the most impressive historical figures from Thomas Paine, Martin Luther King, Milton Friedman, um, and the list goes on. Just a, a lot of people and a lot of, of new people coming on the horizon, uh, to be advocates for universal basic income. So, uh, awesome stuff, um, Again, if you like content like this, if you think this kind of information is important to you, and I think you should, I think you should because this information is created for you. And as inheritors of the planet and a universal basic income, I would think that this would resonate with you and that it would be important to you. And it's not just about money. I like to try to clarify that. Universal basic income is about a value system, right? It's about equality. It's about democracy. It's about so many things other than you receiving a few shekels or shillings a month to survive, right? It's about dignity and it's about being part of your community, right? All these things are being held to the same value of esteem because It's not going to be possible to tell a person they're of equal value in your community and some are sleeping on the streets, living on the streets, suffering, can barely, uh, pay, put gas in their car, could barely go to work, barely feed their families, right? You're going to be doing double talk, right? It's not going to be something that, uh, it's something sincere coming from you. So, uh, projects like this are so very important. I can't stress it enough. for people in cryptocurrency, that if you can break away from your casinos just for 5 minutes, maybe you could kind of see, uh, what the problems lie in cryptocurrency and why it hasn't worked like it should and why I don't think it's going to work in the future. But, uh, there are going to be systems like this, I think, that are going to save cryptocurrency, and, uh, people are going to care about these products. Because they're gonna be in the best interest of the people. And at the end of the day, good distribution, good economic prosperity, healthy metrics like that across the board, not just you're doing well at the top of a pyramid, but the ecosystem around you is. Ideas like that I think are what's going to move forward into the 21st century and be great products. But that's all I wanna say in this video. If you like content like this, don't forget to like, subscribe, And as always, until next time, take care.