BBD Coins Will Reach $1000 Per Coin?

Welcome back to the channel. I hope you're having a great day. So today we want to talk about Bitcoin, MYK back dollars. Can they see $1,000 a coin, right? Is it— when we look at, um, many of these top cryptocurrencies in the space, there are only a few of them that are traded in a range of $1,000 plus. Um, which are Ethereum and Bitcoin, right? These are the biggest networks, um, and these tokens are the most, um, per, uh, or I'm sorry, coins are the most valued, right, per coin. Ethereum broke over $1,000, um, over the last few days, um, and it's, it's kind kind of maintained somewhere around that mark. Of course, we know the story of Bitcoin, $30,000+ this week. And, uh, right, these are, these are very, um, um, high-valued, high-priced coins. All right, so what does it take to do that? Can Bitcoin MYK backed dollars achieve such a value? And some of the answers we discover in this video might be quite interesting. But we're going to talk about the Bitcoin NYK Back Dollar. What's it going to take for it to be able to achieve that? Right. So first of all, just quick backstory, a little bit on the Bitcoin NYK Back Dollar. The Bitcoin NYK Back Dollar is a very interesting concept cryptocurrency. The inflation rate of the Bitcoin NYK Back Dollar is directly tied to the amount of users on the platform. As the users increase, more inflation goes into the dollars that are in circulation. And, um, of course, if you're a holder of the Bitcoin MYK-backed dollar, then inflation is your friend. You're going to have more buying power. You'll be able to do more stuff. The value is substantiated, of course, by the value of the network itself. Now, Bitcoin MYK-backed dollars, another interesting feature of them Um, is that, um, they're not the native BitcoinMYK token, which is part of the platform in the social media site itself. The BitcoinMYK back token is a very deflationary product, and in this deflation as this financial product, it kind of takes the place of gold for us in the network. So that puts BitcoinMYK Back Dollar as this type of, uh, for lack of a better word, stable cryptocurrency. And it is our money, but it also shares a very interesting feature that it can be redeemed at any time you hold it for BitcoinMYK tokens, the native token of the chain, right? Again, this being a very deflationary cryptocurrency and, uh, That's what's so very interesting about the Bitcoin NYK-backed dollar. Bitcoin NYK-backed dollar started not quite 2 weeks ago. Um, they started circulating on the market for $1. Today, um, the market value of, um, of selling a Bitcoin NYK-backed dollar is a little bit better than $1.11. So in less than 2 weeks, this cryptocurrency has gained over 11%, which means that the network itself and the platform has grown more than 11%. So it's a very interesting concept, and I think it's one that traders will find quite interesting. But let's entertain— and of course, in, in this entertaining, uh, what we want to be clear here about is that the Bitcoin NYK-backed dollar is a currency that has a use as a currency, as a medium of trade backed against our network, which gives it a certain amount of stability in the markets. Um, there's no expectation of profit with it because it's a currency, and because it's a currency, it has the same use at a dollar as it would have at $10,000 or $1 million. It really wouldn't matter what the value of it was as long as it facilitated the need of being a medium of trade, right? So, you know, when we're speaking in terms like this, this is very much so geared toward the utility of the Bitcoin and YK back dollar and not so much as trying to get people in the idea of investing in it. And it moons, right? We look at it as a currency. Uh, the growth rate is tied to the network. That is because as the network grows, um, we have to introduce more Bitcoin MYK back dollars in, in order to have enough for it to go around for people to have use of and so on and so forth. It is also just that it is incidental to the market product itself that all these things and the value of it increases. But for educational purposes and for entertainment purposes, we just want to entertain if it can obtain a price of, um, over $1,000 based on how it works within the system. And what would it take for it to do that? And what would it mean for the people who hold it? So let's, let's entertain that a bit. Okay, maybe you're going to be able to see this. I hope you are taking a look at the Bitcoin NYK/BAT dollar and just looking at some information here. So, so let's talk a little bit about what would it take for the Bitcoin NYK/BAT dollar to reach, um, $1,000 per coin. Right, so right now there are 75— over 7,500 registered accounts. Low-level KYC accounts just means that the way the project works, in order for you, you can get the cryptocurrency free based on several factors. These factors are relative to some information data being given over, uh, to claim free. If you want to remain private and anonymous, you can do that by getting the cryptocurrency through traditional means on their markets and so on. But if you, you want to take advantage of some of our features on the site, um, there, there are over 7,500 people who have registered accounts right now. These are cryptocurrency accounts, and I want us to keep in mind that I'm under the impression that a cryptocurrency account is probably going to fall under the category of a financial service account or something like that in many regards. And because of that, it's going to probably have a significant amount more value than your standard social media account or something like that. And I say social media account because the BitcoinNYK project is also a social media site where you can do things relative to that. And, uh, it has this financial feature to it. So to me, I, it kind of feels like, I would say it kind of feels something like if Bitcoin met Facebook or Bitcoin met Reddit and you had this type of, um, uh, combination of these, uh, social media accounts integrated into these financial service accounts where you can do payments, you can, you can do these cash applications, so on and so forth. Okay, so 7,500 people registered to participate in those features. There are over about 14,000 wallets over various exchanges. And, um, um, when we try to create something like the Bitcoin NYK-backed dollar and we try to say, okay, theoretically, what are we going to back this up by? We have a few options, right? We can do something like the US dollar, we could do a basket of, um, cryptocurrencies and fiat currencies. We do a lot of things. Names, right? But when I said that, what more so is more going to tell the tale and be more, uh, substantial than, uh, the network itself, the people on the network, the participation, right, the activity you see going on, the traffic? All of these things, uh, create a certain amount of value and stability, probably so more so than fiat currencies that can be, you know, that can be controlled by governments to the tune of where they're borrowing so much money that their dollar enters phases of hyperinflation and so on and so forth. So on a blockchain where we can have a finite amount of cryptocurrencies, great deal of transparency, and we can have somewhat the ability to audit a participatory network where we kind kind of see the people on there, kind of gauge an idea through traffic and data, um, how valuable that platform is and what's the activity like. We can get some idea of that. We look at a project like Facebook that when it did its IPO and it did this with Wall Street, they came up with something like it was a Facebook social media account was something like $200 per account. Now, of course, just depends on a lot of stuff. It varies when you take into consideration that Facebook is, um, not so much that they're selling the data to somebody, but they are, you know, I mean, you know, for all intents and purposes, they're, they're using those algorithms and those patterns and they're giving that information over, right? So in a sense, they are doing that, right? But it's not in the sense of like a direct sale. In any event, they come up with something like $200 per account. Looking at something like financial products like cryptocurrency, currency, so on and so forth. It's not just that a person will get an account, it's also that they may invest in your cryptocurrency, right? And so over the life of that account, how much is an account worth? Also, it may not be that they do any kind of direct investing or any kind of direct revenue generation through any application in your particular blockchain, but they might be instrumental in referring people or getting people to your site that bring a lot of value to your site, right? Could be a big investor, could be something. When we go through all the string, string of events that can happen, you know, within a network, you end up with tremendous value per account, possibly, right? Especially these type of accounts. So let's just say it is about $200 worth, about $200, right? Multiply that times 7,500, um, uh, a registered account, so and so, so forth. And I think it comes to a little bit something like $1.6 million or something, and maybe valuation. Every time more accounts get added, more of the Bitcoin NYK-backed dollars circulate through the market, right? And so because of that, the inflation rate, the buying power of the Bitcoin NYK-backed dollar goes up, and the holders can spend that and so on and so forth. It's quite stable because there's a great amount of liquidity going back into the BitcoinMYK-backed dollars being printed, and then they're backed up by the network itself again, which is through the BitcoinMYK token, the native token of the platform. When you try to come up with what it would take for a cryptocurrency— now it's trading over a little bit over $1.11, up 11% since over the last couple of weeks due to growth of the network, um, multiply times 1,000 and you get— we come up with something like, for that inflation rate to swell that high, would have to— we have to have something like 7.5 million accounts. That's a lot of accounts. It would make us one of the biggest cryptocurrencies in the space with that many wallets and accounts. Um, now whereas that doesn't seem possible to a lot of people, uh, we can tell you that, um, Due to our freemium service model, we have several features that do ideas like universal basic income. The accounts are free, um, and because of this, uh, you know, a lot of times the people who come in contact with our product are probably going to participate, register an account, give it a try, get the free cryptocurrency, so on and so forth. What is happening over time, similar to what happened to like the Facebook and many social media models, is you're getting a big user base based on these freemium services. When you get that big network, of course, there's a lot can be done. There could be product services sold on your platform. There could be global remittance payments as all these people have these wallets and are in one blockchain. There's so many things that can occur. And because of that, it translates to a great deal of value, meaning that those 7.5 million accounts are going to produce quite valuable cryptocurrencies, more than likely. Um, at least I haven't yet really seen a large network that wasn't quite valuable. I guess it's possible, but statistically haven't seen it. You know, even when you look at something like, uh, Wikipedia, that at one time, you know, was our, um, you know, uh, you know, basically free to get all this data, this information. But, um, you know, it was, um you know, a lot of traffic going through Wikipedia. So obviously that was going to be a lot of money, you know, either way, whatever, you know, whether it be ad revenue or whatever it was on Wikipedia, that's what was going to happen. And so, um, that's why freemium services models can work. Um, to get to over $1,000 of Bitcoin and YK back dollar, it would take about 7.5 million accounts. Of course, uh, the, the inflation rate will be gaining every so often, you know, during that period. As it grows. And if you hold Bitcoin and YK back dollars, then you're obviously, I think, gonna like that as we do seem to be in a growth stage now. The nature of the product with universal basic income and many other ideas imparted in it, it's probably gonna make it unlikely that it's gonna keep growing. And as it does that, the inflation rate's gonna keep growing. Meaning that if you're a trader and you're holding this thing, your value's gonna probably keep increasing in your buying power. Of course, solvency could be a problem. Um, in those events, these markets become somewhat illiquid, or they don't seem to be solvent, right, for whatever reason. That's where the Bitcoin NYK backed dollar is fully redeemable then for the native token, the Bitcoin NYK token. So it's a very interesting concept. Can we reach $1,000? A cryptocurrency, I think it's very, very possible and it's probably very likely as well. And that is the very interesting thing, the interesting part about it. And has to do with a lot of things that's going on right now around the world, global pandemics, universal basic income becoming a very hot topic. You know, many of the relational things we have to Bitcoin, you know, basically an idea of a Bitcoin fork, if not in hard code. We do inherit the Bitcoin ledger. We could do fast microtransactions. Bitcoin holders get it free. And so there's a lot of things that can contribute to the BitcoinNYK Back Dollar reaching that valuation. But that's all I'm going to say in this video. If you have any questions, feel free to ask about BitcoinNYK Back Dollars. We're starting to do series of videos on them. And if you just look through our channels and look through the videos, you'll find a lot of more videos on the Bitcoin and YK back. If you have questions and so we encourage you to go through there, subscribe, like the video if you, if you wish, share the video, go through that list and look up all the various videos about Bitcoin and YK back dollars and probably gonna find answers to your questions in them. If you don't, you know, come visit us on our BitcoinandYK.com site, on our Discord channels, you know, those things. We'll be more than happy to tell you about the project and, you know, what you need to get involved and why we think it might be great idea for you. But that's all we 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.