Bitcoin Myk - Bitcoin Universal Basic Income Registration Now Open!

Hey you, welcome back to the channel. And guys, today we're going to talk a little bit about— we've opened up now registrations to participate in our Universal Basic Income program every month. Um, so I'm going to read the details to how to get involved with this, where you register at, and, uh, when this kicks off exactly, or when you start to receive your, your your Universal Basic Income tokens. Um, that are BitcoinNYK tokens, but similar to the approach that's going on with, uh, EOS Universal Basic Income, uh, we're going to be using portions of our funds to fund this. So, uh, let's go ahead and read how it's going to work. The last day of every month, registered account holders will receive Universal Basic Income. Payments. Everyone with an account is eligible. The amount of tokens sent to each account is calculated based on the current rate of Bitcoin. For example, a Bitcoin trading around the rate of $4,000 would be given in comparable value to BitcoinNYK as a monthly stipend payment. Currently, 4 BitcoinNYK equals 1 Bitcoin. So our model calculates the universal basic income per month at a value over $1,000 USD per month. So I'm going to stop right there. This is basically saying that after you register for an account, uh, in our model, we find that somewhere, somewhere around $1,000 US dollars a month is probably what it's going to take, uh, for the, you know, for the average, uh, you person to live and, you know, to receive this universal basic income. And 1 Bitcoin right now is around $4,000, but due to our Bitcoin fork, because we had 100 million Bitcoin MYK tokens, that basically meant that a little over 4 Bitcoin or Bitcoin MYK is what it took to equal 1 Bitcoin in our fork ratio, right? Uh, so that means that based on a rate at which Bitcoin now trades, the average person would receive about 1 Bitcoin, uh, me, uh, NYK token per month. Now it is important to understand that the tokens are traded on a third-party exchange and the exchange will determine the value. So, so basically, guys, that's what that is saying is it would be very— it would be great if we could reach values similar to Bitcoin to be able to provide a universal basic income to as many people as possible, but the exchanges would have to determine that And so basically, you know, what that— what will happen is more value goes into our projects and our token. The hope is we will one day achieve this, um, and with help from the community. It's also very important to understand that universal basic income at this point in time is a very popular topic, and it's actually being used in some countries around the world. Uh, not only that, but a lot of people want to experiment with, um, universal basic income. They're not going to be able to do that obviously in the real world, uh, you know, with the governments at this point in time. But many people fear, and many, uh, professionals and very smart people are talking about one day we may have to go to universal basic income. And that's due to automation, that's due to robotics revolutions and mass unemployment, uh, due to circumstances people can't control and just a plateau of things that are happening. So this may have to happen at some point in time anyway, but now is the time for many of us to experiment with it. And the cryptocurrency space is a great place and way to do that. Now, penalties if you fail to claim your tokens every calendar month. They'll return to circulation and you will have to claim it in the following month. You are only allowed to claim one, um, per month, uh, in that month only. So basically the penalty means, guys, if you don't claim your UBI tokens for the month that you're in, you will lose them. And, um, the following month you will be able to claim those, but you will never be able to get the ones back. They go back into Universal Basic Income circulation. Now funding, let's talk about the most important question. How is this affordable? Well, BitcoinNYK will function in theory like Bitcoin, and the reason this is, is because BitcoinNYK is a fork of Bitcoin. So that means that the tokens that are funding Universal Basic Income, they can't be the tokens that belong to the miners. We also have a different type of fork where as long as miners are mining, they are receiving BitcoinNYK tokens, right, as we're following the Bitcoin ledger. So those tokens are off or can't be touched by this program. In addition to that, miners are also able to claim their Universal Basic Income. This isn't some type of socialistic, you know, project that just gives to people who are in need or in a welfare-type state. We have observed those projects. We have observed universal basic income tokens just based on that, and we have determined that they are very problematic and they don't work. This is different. This works more like a real-life economy in our model, which basically means that every advanced civilization, every advanced country carry some form of social programs. Um, you know, so it doesn't really matter, uh, whether you believe in socialism or not. Uh, we are products of a form of capitalism and socialism, and that's what BitcoinNYK is aiming to do. It's not aiming to just be this token that just gives away tokens at no value. We're seeking real value here for our tokens. But what is funding our projects are, um, and I'll continue reading the paragraph here. The function of BitcoinMYK will, um, fund the project from attention value and purchase of the tokens as well as social media and the use of this new value to propel the token forward. So, so let me, so, so let me stop right there and help you understand this paragraph, guys. Unlike any other business that has existed, social networks are probably the most unique. They collect a lot of money, they're worth a great deal of money, and yet people participate in social media networks and provide the content, right? But they aren't compensated or paid for In our model, the value of what we'll create as a social network, as well as being a hub and having this interoperability into other social networks across the internet, that value, that attention value that comes from that, is what will fund this project, right? As well as matching up to the Bitcoin Ledger, continuing to provide an option for Bitcoin users to, to participate, move their value over, and be able to use Bitcoin as a money across the internet like it was meant to be used, uh, yet gaining value and mass adoption at the same time. In addition to that, penalties and failure to claim tokens will circulate back into the Universal Basic Income program. Failure to claim Bitcoin Fort tokens will incur a 2% penalty within the first month. Penalties will increase over, over that, over time rather. And the tokens will fund the Universal Basic Income program. That's basically that saying, if whether in our Bitcoin Fork here, where the people don't claim their fork tokens for whatever reason, they incur penalties. Whether people don't claim their Universal Basic Income tokens every month, that goes back in the pot. All of these, um, programs up. You know, when we think about people like Satoshi who might not ever claim his tokens, that will fund the project. And so we— so this isn't a free program, it's not free money. It will function like many other tokens that gain value and do things and create value. However, A percentage of that value will fund projects, not for just a particular group. This is for everyone. So everyone would be eligible, right? So it wouldn't be taking money over here and giving it to there. Everybody is eligible, although the penalties and the value we create, or the penalties are part of the program. And that's because every time you don't use our program, every time you don't use our site, Every time you don't use our tokens, every time you don't hold our tokens, we lose value. And so we have to encourage you to participate. That builds up the value of the tokens, that makes the project, uh, us able to fund the project, and it makes us able to give value back to you all. So it's very simple. After you register, you will put in your account name, your Waves wallet ID, and you check the box for the month you're claiming in. The last day of every month is when the tokens will be paid out, and last day of every month that follows, uh, the penalties incurred for people not claiming. Uh, so that's how it's going to work. Very easy. It's meant to be very simple to set up a wallet, to claim your wallet, to claim an account, and various things like that, as the idea is mass adoption, which we will cover in later videos. But guys, that's all I got to say today. If you have any questions, comments, or concerns, feel free to contact us. Let us know, as many of you have started to do. And guys, until next time, take care.