BBD Coin Breaks $6/ Intrinsic Value? Are You Buying?

Welcome back to the channel. I hope you're having a great day. So today we want to talk about the Bitcoin MYK back dollar has broken over $6 on the Hive Engine exchange. So we go down here to the Bitcoin MYK back dollar, we look here, it's over $6.18, up 134 today. Now this, this is very interesting. Those are very interesting figures, and we want to get into what might be driving factors, uh, behind that. So a lot of— a question that comes up a lot with the Bitcoin NYK back dollar, and questions I think that come up in general in cryptocurrency Uh, is what gives a cryptocurrency value? What is, you know, making some of these cryptocurrencies go from one, uh, price to another? So this is going to be a very interesting video because I think in this video we're going to learn some things about, uh, the markets and cryptocurrency, uh, and value probably that we didn't really think of prior to this. So let's start with cryptocurrency being a very small market. In a very small market, in a— and when we say small market, we're talking about all cryptocurrency, right? We're talking about Bitcoin as well. Uh, within the space, we tend to think of Bitcoin as it's a big market. But in reality, Bitcoin is quite a very small market in comparison to many of the financial sectors that exist in our standard economy. That said, it's going to take a lot less to push the value of Bitcoin up than traditional markets, as many of us know. So if you're looking in comparison to something like Bitcoin, If a person comes in and they were to invest $1 billion or $100 million to $1 billion, right? To us, those sound like astronomical numbers. To the financial sector, $1 billion is nothing. So you have a situation like what happened with Elon Musk where he takes $1.5 billion or whatever the number was, he puts it in Bitcoin, Bitcoin shoots up. 100%, uh, doubles its value. That wouldn't happen in traditional financial sectors, as many of us know. Uh, we understand that this is due to a very small market. Now, is it a problem for Elon Musk to take $1.5 billion and invest in Bitcoin, whether he's buying, whether he's investing directly in his personal finances or whether he's investing in Tesla's stock or, or one of his companies. Absolutely not. In fact, the opposite is more likely true, and it goes something like this. If you're a CEO of a platform or a business or a company or stock, and then you invest X amount of dollars, that's generally going to make people bullish on that investment, as to say that's a good sign. It's a good sign when a CEO buys something. It's a good sign when the management team buys. So it's a good sign when insiders buy something, right? This is all good. It's a good sign when cryptocurrency founders buy back into their project. That is not the problem. What we get in cryptocurrency is there is a big relationship between cryptocurrency and scam. When you hear cryptocurrency, what follows closer to that is scam cryptocurrency, scam cryptocurrency, right? This goes with the territory, and we understand why that is, right? And there have been many, uh, incidents that have confirmed why that is a big concern. But there's something else that happens in economics, and there's something else that happens in value systems, and Warren Buffett touched on it. And one such idea is intrinsic value. Warren Buffett said that Bitcoin itself doesn't have intrinsic value. So oftentimes when we're speaking about cryptocurrencies and their value, or somebody buying them, or somebody pumping them to moon them, whatever the case may be, and most of those cryptocurrency projects, we're leaving out the idea of intrinsic value. We take a vacation from that word because it's convenient. We're quick to point out that this project or that project could be scamming, but we never point out that there are, uh, fundamental questions about why Bitcoin itself feels like it has no intrinsic value. It may have no intrinsic value. Some people believe it doesn't. So then in that case, then if it has no intrinsic value, Then buying Bitcoin when you don't have the value, you don't know the value, would in essence, in a sense, be pumping up the price. Let me tell you why the Bitcoin MYK-backed dollars differ from all of that. We're going to go back to that idea of intrinsic value here. This is interesting. This is a, this is a, this is, uh, Uh, speaking about the New York Times, listen to this. According to the New York Times media kit, full-page ads in the nationwide edition run for about $150,000 before the added cost for color. So to get a full-page ad in the New York Times Um, even before even any color is added, it's $150,000. And I've heard the figures for a full-page ad can even get up to a million dollars. Now I just want you to hold that thought for a moment. I want you to just think about that. right? What, what's, what exactly is the New York Times? What's happening with that, right? This is basically gonna be a two-dimensional object that's gonna put your advertising on it. About an inch of that space, just an inch of advertising space on the New York Times, can run around about $2,000. Just an inch. Think about that right now. The New York Times, uh, a newspaper itself. Would Warren Buffett say the New York Times has intrinsic value? In a sense, he probably would, because, uh, he would say there's a product there, there's a service there. and there's this trade-off there, right? Uh, we know Bitcoin is different. It acts as, uh, they changed it to store value, right? And then some people still try to use it as a currency, and it fails miserably as a currency. Let's, let's bring this home as to what all this means and, and keeping all these things into consideration. All right, here on the BitcoinMYK.com site, The BitcoinMYK token is the native token to the BitcoinMYK platform. It basically is this utilitized attention value cryptocurrency, right? Let's go back to that New York Times example. If you wanted to buy a million-page ad in the New York Times, right, these ads that can— these full-page ads that can run from a $150,000 to, uh, $1 million. If you were to go and, uh, purchase that, uh, you would have to use some type of currency, right, to do that. So let's say it's the US dollar. You take the US dollar, and that's what the New York Times would require. But let's say the New York Times requires something called a New York Times token. Would it make any difference that you, you spent $1 million to put up a full-page New York Times ad? Or would it make any difference if you used a New York Times token? You would get the same product. So in that sense, it wouldn't really matter. Whether you'd have to go use the American dollars or the New York Times token, the result would be the same. The value proposition would pretty much come out to the same thing in that paradigm. Now with the Bitcoin MYK-backed dollar, the Bitcoin MYK native token, you're able to basically use this cryptocurrency to promote your advertising, your promotional material on the front page, right? Like how you're staring at this big ad here, and you're able to take that token and create it into something useful and valuable, kind of like basic attention token right, from the founder of the Firefox, uh, browser. When Warren Buffett speaks of intrinsic value and those type ideas, what that is basically saying then is that that would mean that the Bitcoin MYK-backed dollar, the Bitcoin MYK-backed token— or I'm sorry, the Bitcoin MYK-backed, uh, Bitcoin MYK token, native token— that would mean that independent of your thoughts, ideas, feelings, or sensations. That would mean that independent of all of those things, the Bitcoin MYK token would have a value onto itself by itself, correct? We can all agree on that, I think. Now Here's a fair question. Based upon that, and looking at something like the Bitcoin NYK back dollar being, according to the market at this time, worth $6, is it conceivable that the intrinsic value of the Bitcoin NYK YKBAT token or, or YKBAT dollar could be responsible for the price of Bitcoin and like, uh, Bitcoin and YKBAT dollar. Just maybe. I'm not saying it is. I'm just saying allow yourself to ask that question. Is that possible? Can we make an argument that there is an intrinsic value to this cryptocurrency? Here's the other part, and here's, I think, another fair question to ask. In the Bitcoin MYK-backed dollar, right, in the Bitcoin MYK-backed dollar, is it reasonable to compare it to the New York Times? I would say absolutely not. The Bitcoin NYK, uh, platform is new compared to the New York Times. It is not known like the New York Times. If you put up an ad on the BitcoinNYK.com network, it will not get you the same results as the New York Times. That is fair, and that is a proper statement to me. However, let me let you in on another interesting statistic. In fact, let me show you. I think it's easier to show you. I wanted to read you an article from Medium, uh, written years ago by someone by the name of Fabiana Ketchen, I believe her name is, Sessom. And, uh, this article was written back when, uh, EOS, uh, was kind of playing with this universal basic income idea. But what we know to have happened is that kind of morph into EOS Voice. And that's why on EOS Voice you can't buy the cryptocurrency. The, the, the idea of a whale controlling the network and his voice having more, uh, presence than another person, uh, is not, uh, really how the system is designed. And it's on purpose designed that way to keep that from happening. And a lot of people didn't understand that. They didn't understand That was the only way you're going to be able to do something like that, because what was going to happen if you did these type of proof-of-stake networks, or you're going to always have people could just buy their influence over the network, and that's how 90% of the networks work. The mistake is people think that that's the only way a project can gain value and work, and that's not true, right? Um, that is a, uh, misunderstanding of how economies work, right? And it is a misunderstanding of how cryptocurrencies can work. So many are ignorant in that area, and, uh, it's a good thing we have the educational entertainment television show to try to shed some light on that. But let's read an excerpt from what this article writer discovered. They write, no, UBI is not communism. UBI is getting a customer of your currency hooked for life. It is the ultimate airdrop and the ultimate form of marketing. Think about that for a moment. In the genesis of Bitcoin, Did you know that most of Bitcoin was just given away? That Bitcoin's first marketing plan was about giving the cryptocurrency away through this form of UBI or airdrop. And that model has continued on, uh, for decades now, and it is a model used and many of our most successful platforms and businesses around the world, in or out of cryptocurrency. We call it ideas like freemium services. We call it the Sunday, um, paper coupon section. We call it the free Netflix subscription. And what is the overall idea of this? The overall idea of this is for a type of Kickstarter to market stimulus, whether that be in your business, in your sector, in your industry, or even in your economy. And universal basic income has spawned from that to even be used now by many economists theoretically to suggest that universal basic income would improve our economy, would stimulate our economy, will put more money in people's pockets would create more velocity of money, and so on and so forth. And the Bitcoin NYK Back Dollar Project and the native token that it backs, or that it is backed by— did you know that that cryptocurrency distributes on daily logins the cryptocurrency free to the users, similar to EOS Force. If this writer is correct, then that means that that creates the ultimate form of marketing and growth and getting your customer hooked for life, right? If it is true that most economies that are viewed as not fair for the majority don't do well, can't produce dual economies, can't produce bad economies, unhealthy economies, then some mechanism to prevent that would be seen, uh, as a, as a, a product of a good economy. And, um, some, uh, latest of polls, it is estimated that 50% of the population would accept and opt for universal basic income. You're talking about, uh, nearly 3 to 4 billion people. That is a global statistic. That is not a, uh, a local or nationwide statistic. If all of that is correct that could produce elements in the BitcoinMYK project that would create a lot of traffic, a lot of value, and what the project does in that sense, it could be relational to a brand like the New York Times. But let's get back here to BitcoinMYK.com for a second. A perceived future value of being branded like a product like the New York Times could produce a lot of value. Absolutely, it could. But the intrinsic value of what a Bitcoin NYK token could do in relation to that and in relation to the price of the Bitcoin NYK back dollar breaking $6. None of that is how cryptocurrency works. You see, cryptocurrency just doesn't take into account market sentiment or what the market thinks the price of a cryptocurrency can be at that particular time in that measure of time. Cryptocurrency doesn't just take into account, um, what, uh, happened this week or what may happen next week. Cryptocurrency is a totality of all of these things, all of these market conditions, all of these possibilities of what these projects can be. I think when you speak about something like intrinsic value, that certainly helps, right? That certainly lets us— gives us an idea of what the price is. But I think the reality of the situation is that Um, all of these factors could be, uh, contributing to the price of the Bitcoin NYK-backed dollar beyond a CEO buying the cryptocurrency. I think it's great if the CEO buys the cryptocurrency. You should think that too. Pump and dumps in cryptocurrencies are a problem because we don't know the value of the cryptocurrency. But if there is an intrinsic value to the cryptocurrency Those ideas go out the window faster for people who don't understand how markets work, right? Could it be, and I'm just asking the question, that the reason we don't know the value and price of many of these cryptocurrencies is because they themselves don't have the intrinsic value like what we're speaking about. And maybe that's why they flip-flop around so much, right? But the future prospect of the Bitcoin MYK-backed dollar in this principle and in this idea would be a lot easier to understand and know the value of that cryptocurrency, to utilize that cryptocurrency, to use that cryptocurrency, to be able to get that network based on the structure of that cryptocurrency and not just based on the structure of trying to sell a business idea to somebody that you're charging them too much for, namely cryptocurrencies that run on business models that try to produce ideas and revenues or sell products that don't have the value because they themselves are, are based on things you can get on the internet free, like blogs and articles. Maybe in that sense there is a, a problem we need to explore and understand the value of these cryptocurrencies. But whatever the value of the Bitcoin NYK-backed dollar, do your own research. Ask yourself if it makes sense for it to be that price, and don't just base that conclusion on what you see happening in the markets now. Or what you believe is happening or, uh, going to happen in the short term. You have to investigate the totality of a project and its future and what people are going to need in that future. 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.