In this YouTube commentary, the host examines the recent drop of Bitcoin’s price to around $84,000, exploring possible causes such as whale profit‑taking, unlocked accounts, and broader market sentiment. He then shifts focus to the personal relationship users have with Bitcoin, questioning whether it functions as a daily payment method, a “gold 2.0” store of value, or merely a speculative asset. The discussion contrasts Bitcoin’s performance with that of Bitcoin MYK (also referred to as Bitcoin NYK), a fork that distributes a monthly citizen’s dividend (a form of universal basic income) and has surged roughly 359% despite Bitcoin’s decline. The host explains how Bitcoin MYK integrates social‑media‑like network effects, invoking Metcalfe’s Law to argue that its value grows as the user base expands. He further connects these trends to macro‑economic shifts driven by AI automation, suggesting that as jobs are displaced, social‑media‑based crypto dividends could become a necessary income source. The video concludes with a critique that Bitcoin’s crash reflects its limited utility in the evolving 21st‑century economy, while Bitcoin MYK and similar dividend‑oriented projects may thrive. Viewers are invited to share their thoughts, experiment with Bitcoin MYK, and consider the broader implications for personal finance and community resilience.
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Welcome back to the channel. I hope you're all having a great Friday afternoon as we get ready to go into the weekend. So today let's talk a little bit about the Bitcoin crash. So Bitcoin, I think it's just dropping around at $84,000 mark today. Um, let's see. Bitcoin traders brace for price crash to $75,000. No bottom seen, right? So not good, guys. Not good at all. And so let's talk a little bit about Bitcoin, just a little bit here, right? So there seems to be some fundamental issues with Bitcoin, right? Um, now some people are saying the reason that Bitcoin is, um, is crashing— I believe there is some whale who's taking profits and some big, you know, big whales or whatever. Um, and it's, it's, it's many, uh, stories out there about, you know, what's causing, who's doing what, what's causing and you kind of take your pick of why it's crashing. Excuse me, guys, let me turn off notifications. Okay, and we're back. So let's talk about Bitcoin in relation to yourself and myself, right? Myself, you and I. So Bitcoin As you know, as far as the holders goes, right, who holds Bitcoin and such, right? It's something like 80, 90% of the wallets don't even have $100 in it, right? Um, in regards to you and I, what are— what, what is our relationship like with Bitcoin, right? Because I would hear these stories like people get up in the morning and they hope for the day they could go out, they could buy coffee with their Bitcoin. They can, you know, they can use Bitcoin in place of money, right? You hear stories like that a lot. And then of course you hear the stories that are more related to like You know, Bitcoin kind of becomes gold 2.0, and so people are holding this Bitcoin, and it is quote-unquote recession-proof, meaning that in times like this, right, when we're under great inflation, Bitcoin should hold its value, right? When the top of Bitcoin last month was hitting something like $120,000, it's now $84,000 with no bottom in sight. We don't know how low this thing can go. We've been hearing people walk around saying it can hit $60K, and whereas we thought that was a ridiculous amount, uh, some time ago, uh, now they're, now they're seriously considering $75,000, right? Some of the analysts. So what is our relationship with Bitcoin like exactly? Because that, I think that's a very important question to ask as to the situation with Bitcoin. right? Because if Bitcoin isn't something that you have a special relationship with, then why would you hold it and why would you buy it, right? So some would say it's because it's kind of stood the test of time, died many times only to be resurrected, come back, reaching higher highs, right? And that's been true. That's, that's, that, that's been arguably true for Bitcoin. I guess you could say maybe over the previous 4 or 5 years, right? Now, if you look at the last few years of Bitcoin, it's pretty much settled around $100,000, right? We haven't really seen Bitcoin go crazy outside the scope of that. Right. So in relation to the previous years, the significance of the jumps, I would say, haven't been that great. Right. Because Bitcoin's had some humongous jumps that defy reason and logic. But I would say in the last few years, it hasn't really done that. Right. But your relationship with Bitcoin, for the most part, most people who listen to the video or just most people in cryptocurrency in general, is a very, is a very, uh, uh, I won't say insignificant, but it's a, the relationship is, is, is not a, not a great one, right? As to say, most people that are in cryptocurrency aren't holding a lot of Bitcoin, uh, they aren't using Bitcoin every day to trade as such, uh, they aren't, uh, you know, paying bills with Bitcoin. They aren't really doing anything in significance with Bitcoin, uh, minus, uh, believing in the story of Bitcoin as to say that Bitcoin is supposed to be this, uh, money or gold 2.0 that is a future currency that may be better than gold, that might be better than, uh, major fiat currencies, right? And this isn't a video to bash Bitcoin. I rather like Bitcoin, but it is a realistic video as to think about what you're doing with Bitcoin, right? What's happening with Bitcoin, right? So whereas Bitcoin is in what could best be described as a crash. And those aren't my words, those are the words of many. Uh, Bitcoin MYK, which some of us consider a fork of Bitcoin, which some of us consider the Bitcoin that gives everyone a citizen's dividend, is up 359%. Now here's the thing, uh, shouldn't Bitcoin, uh, as it's dealt with this inflation economy, shouldn't it be holding its value against this inflation? Now some people will say, well, it's not holding its value, and the reason it's not holding its value is because you got these mega whales selling or whatever the story is, right? Somebody unlocked their account from years ago, taking profits, et cetera. But what about all of the previous inflation economies we've had where Bitcoin has taken, took a nosedive, right? Where the story was different, but the value of Bitcoin wasn't holding its value against the inflation. Uh, that's where the concern comes in, because if it's supposed to be gold 2.0 or better than gold, gold seemingly has no problem doing that. So wouldn't Bitcoin have to do those things? And why is it— and why is it that Bitcoin MYK is in an upwards incline but Bitcoin isn't? So let's keep the conversation going about the relationship between you and your cryptocurrencies, right? So let's head over to BitcoinMYK.com for a moment. Want to take a look at something here. All right, here on BitcoinMYK.com. And what are we looking at here? What is BitcoinMYK.com? Of course, many of you all who've been watching the content videos You're full aware of our, what would be our, I'm sorry guys, what would be our relationship with Bitcoin NYK, right? We have, you know, been involved with Bitcoin NYK for a number of years now. And what it aimed to be was a version of Bitcoin, a type of Bitcoin where everyone in the network will receive a monthly dividend. We refer to this as the citizen's dividend. We refer to this as universal basic income. We refer to it as guaranteed income. And how it works, when you log onto the platform, you start to automatically get access to these cryptocurrencies. You get them for free just for logging in, right? Be a part of network. Now, as you can tell, it also looks like a social network, right? And so what is the significance of that? Well, what we've seen with social networks is they kind of mirror the growth of an economy, so to speak, right? They grow under Metcalfe's Law. As they grow, their value seemingly increases, such much so like how a GDP grows, right? You know how bigger populations create bigger economies and so on and so forth, right? So that's very interesting. But what also is very interesting is in this kind of mirror universe, of the economy to the social media economy, to the cryptocurrency economy, is what you get is you get basically a situation where people who find necessary uses in social media as a telecommunications network, right? They find need to use it. So you would be hard pressed today to say something like, um, we don't need social media, right? Everyone needs social media today. Every business, it's become a key part of their marketing, right? Uh, as far as our human relationships and social activities, social media is part of that, right? We can't ignore it and can't deny it. That's why Most people have to log on social media every day. So now you're dealing with a relationship between you and your technology that is a necessary one, that is a useful one, right? And when you couple this with cryptocurrency, you get a very useful payment gateway and you get a very useful social currency network. And those two words are going to be very, very important. In the future and very useful, right? Also, when you take into consideration our technology and what it means to, to us economically, as humanoid robots become indistinguishable from humans and they can perform tasks like humans, as chips get faster, as artificial intelligence grows bigger and Keep in mind that we have fully focused on pouring all of our money investment dollars into AI to win the AI race because whatever government wins the AI race will be the most powerful government. Make no mistake about it. And so all that money's going into AI, which means that that AI is getting smarter to do jobs over humans, to replace humans and displace them in the workforce. Which means social media entertainment is gonna become the new currency. And there's gonna be a necessary way for people to be able to make a living, to receive an income, to survive, right? And these aren't questions of whether these things or events will happen or not, but it's more of a question of when. No matter the when, where, or how, we're going to have to be prepared, uh, for it. And some type of system is going to have to exist. Now, we've just come out of a government shutdown in the United States. Whether you depend on that to be solely the government taking care of you is really, uh, you know, kind of your affair, up to you. What we're suggesting is, for your safety, there better be a type of government plan and a privatized plan or a community plan, right? Community network plan to where it is more safe for us to be able to survive in these type situations, economies, and so on, right? So I believe that's part of the reason why Bitcoin NYK is up 359% and why Bitcoin is crashing. I think at the end of the day, Bitcoin is becoming more and more a, a network, a brand effect, a product that doesn't account for all of the issues that we're going to be facing in our 21st century economy. And the crashing of Bitcoin could be far relational to that need not being met. Now, a lot of people will say, oh no, it's crashed because everybody's dumping. But here's the thing, right? Economies don't crash like that because you always have buyers for every seller and sellers to every buyer, right? And that's how come you don't see stock markets and our global economy that kind of, you know, make, you know, the dollar where it maintains about a 2% inflation rate. That's why you don't see it get out of control, although there are artificial controls in part. I would think that there would be a natural evolution where that would evolve in Bitcoin if it was as important as these standard economies that run our lives. And so my entire argument is that Bitcoin is crashing because it is not that important and that Bitcoin and YCare products like it is on the rise with the growth of the economy under these circumstances because of the much needed area that in demands that it meets. That said, you know, this isn't a video to glorify Bitcoin MYK either. The argument we'd like to suggest is that Bitcoin MYK as well as many other products similar to it will experience a similar growth in type of situation, right? So anyway, guys, tell me all what you think about that. How low do you think Bitcoin's gonna go? Have you joined the BitcoinNYK network? And in doing so, have you made the comparisons to try to see what's happening there? You could do it as an experimental cause and just see how you're doing each and which one comes out the best. We'd love to hear from you guys what you think about all that. That's all I want to say in this particular video. As always, take care of yourselves and each other.
