BitcoinNYK lets Bitcoin holders claim tokens on the Steem blockchain by proving wallet ownership with a signature or small deposit, then uploading a blurred ID to prevent double-spending. The current claim ratio is 4:1, and transactions are fee-free.
Welcome back to the channel, and I hope you all are having a great day. So, uh, we want to talk to you all today about our verification system with the BitcoinNYK project. So one of the biggest questions we've ever received has been, if you're going to do something like this, if you're going to kind of go on this idea of forking Bitcoin on the Steem blockchain, um, but What's going to be quite unique about your product is unlike how forks work, where it's a snapshot taken one time and after that point you can no longer basically claim your fork tokens, your forked tokens. With this, with our system, you can come back and keep claiming your BitcoinNYK tokens, you know, if there are any changes in the Bitcoin ledger, and we go into great detail about that in the white paper. But basically, if you're earning Bitcoin, you're earning Bitcoin MYK, right? So you're able to go into our system basically and claim all your Bitcoin MYK based on the Bitcoin you hold. So you don't really have to buy or purchase our, our cryptocurrency. You can simply collect them from your Bitcoin holdings. And when that changes, for instance, if you purchase more Bitcoin, you get more BitcoinNYK tokens. Um, and today we're going to show you how we achieve that. And so we had kind of hit our heads up against the wall. This seems to be a big problem with many projects. How do you stop double spending, right? How do you stop, um, people from fraud in the system and just coming in with many alt accounts and doing this over and over again? So this is how we do it, and, and The way we do it is it is done without really any KYC. And I know that's the tough part for this space and a great deal, but we found a simple method. Uh, what we use is each account, your Steam account is linked to your Bitcoin account through our hub, the BitcoinNYK.com site. It is linked to this, but at the same time, um, we're able to identify it belongs to a unique person, a unique account. So this occurs by you sign a signature on your Bitcoin wallet through the verification process. Um, if you don't want to sign a signature, if your wallet doesn't have the capability to do that, uh, you basically, uh, can send a very small Satoshi test deposit, the smallest, um, that could be sent. That's very small, it's only like 2 cents, in which case we will refund the the 2 cents, and that's only if your wallet doesn't have the signature capability or you don't know how to use it, uh, because it is a few steps to that. But you do that and, uh, you verify now you own the Bitcoin account. Now you also have linked this Bitcoin account with our BitcoinNYK.com account. Now the next part is to link your Steam account to that, and the third part is us identifying that you are a live person, right? An actual person who owns that account. That way it stops you from going in on another account and just moving the Bitcoin over to another account, repeating the process. So we do it by linking, uh, IDs right now. I know a lot of people saying, well, that's KYC and I don't want to give you my identification. This is how it works, right? Even though you submit part of your driver's license or ID to be able to really take advantage of this, and, uh, just, um, allow your Bitcoin NYK value to go up with the Bitcoin holders without you actually purchasing Bitcoin. What you have to do is your picture is shown. However, everything is blotted out on your driver's license or identification, uh, with the exception of your first initial of your name, right? So everything else on here will not be seen. Uh, so it'll look something like this, uh, how you see that first name blotted out, but in this case it'll be the last name, right? Uh, and all your personal data will be blotted out. The only thing that needs not be blotted out is a picture of yourself, uh, and your identification, right? Now we know we're dealing with a unique person. Now what happens, this all gets uploaded to one account on our network that is a— collects all of these accounts together. We can verify that it is a, an account that is, uh, um, basically a unique account belonging to this person, to that particular person. And now voilà, no problem. As you can buy as many Bitcoin as you want and then just come over to the site, claim BitcoinMYK tokens at a 4:1 ratio right now. Meaning you'll get 4 of our tokens for every Bitcoin you hold. Um, and so that's going to be quite interesting. That's also, um, going to be— that ratio rate can change. It can actually be more. So what you want to do is go ahead and get connected to the system so you can get your free BitcoinNYK if you're a Bitcoin holder. You can also get free tokens just by using the site, but if you don't even want to use the site, just want to collect some free tokens All you have to do is take your Bitcoin wallet, sign it. We'll leave a link on the site where you can do all this stuff and you'll, you'll be submitting your ID. But again, this is not KYC. The only thing will be showing is your picture and nothing else. None of your name, none of this data will be available to us. So you blot out all this data, but it's definitely worth it because if you think about it, after that point, you can just focus on buying Bitcoin. And collect your BitcoinNYK tokens. Now, uh, we believe we're going to perform way better than Bitcoin, so I think that's going to draw a lot of people into the BitcoinNYK project and make them rather use it in some cases than Bitcoin. Not to mention our transactions are free across the Steem blockchain, so we think this is going to be an excellent, uh, way to, uh, be able to get, um, people using, uh, the BitcoinNYK project and get your tokens, uh, free. But just wanted to explain the verification process to you and show you how we figured it out, why it's not difficult at all, how we stopped the double spin. And if you have any questions, feel free to ask them in the comment section or on our website. There's live support available over there. And, uh, that's all I think I want to say in this video. We'll leave links in the description to the projects if you're interested. And until next time, take care.
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