Bitcoin Myk - Bitcoin Universal Basic Income

Hey you, welcome back to the channel. And guys, today we want to talk about universal basic income or Bitcoin universal basic income. How, how could that work? Will it work? Are we crazy enough to attempt it? And so let's get into that a little bit. So this isn't a new concept. You know, even before cryptocurrency, people were interested in universal basic income. And of course, the, the, these continual arguments about why it wouldn't work or why it could work. And of course, then with the invention of the blockchain, there were experiments with it. And in recent news over the blockchain, EOS has planned a strategy. I think it's still theoretical. I don't know if it's gonna actually happen where they would use their EOS inflation and, and use that as universal basic income. So Let's talk about how we're gonna attempt it and why we think we're gonna be the most successful at it and where we're gonna get the money. So if you watch the channel or if this is your first time watching it, but you're interested in universal basic income, this is the episode for you. So we're gonna talk a little bit about it. So as I just earlier mentioned that EOS had planned to use their inflation, their annual inflation, to achieve universal basic income. Our approach is going to be significantly different. Our approach is we're a Bitcoin fork. Why a Bitcoin fork makes the most sense? You know, why, why start a token and try to go after creating a whole entirely new market when we feel there's enough innovation in the cryptocurrency space already. We feel that the cryptocurrencies in existence, they need to be worked on now. Some of them never needed to be invented in our opinion, and there are some that have really good use cases, and but you know, needs some tweaking, needs some work. Our focus is on Bitcoin, a lot of Bitcoin wallets already, probably 30, 50 million or so. And so forks are the way to go in this. So one dilemma we were having, or one option we had chosen, was that what generally happens in forks is, you know, many well know, there is a point at which the fork occurs, and it occurred a specific block. When that happens, there's a snapshot taken, and so you know who held what of the other tokens so that they can receive these new tokens with the new way forward. Because that's basically what a fork is. A fork is a new vision forward. It is not the same vision. If it were, the fork would have never occurred. Um, and so that's how that's done. Now what happens is there are these dormant accounts. There's accounts where, you know, God forbid, maybe people died, maybe people forgot their password, whatever the case is, these tokens are pretty much gone forever, locked away. They can never be used. So what's been happening recently is some forks have opted to declare penalties against people who don't claim their fork tokens when they're supposed to, or don't claim them at all. And they go on to the point where they reach forfeiture, where they just lose them altogether. As we are looking at universal basic income, it came to my mind as I seen several forks that have opted to do this, I said, well, what would we do with those dormant tokens? You can give them back, you can circulate them back to and give them to people who haven't earned them, right? You can give them to the uh, the token holders already and increase their value and increase their stake. Um, or you could use those tokens to hopefully create a better world, a, a, a new use for cryptocurrency, hopefully help a lot of people, hopefully change the world and get people interested in cryptocurrency on a level never seen before, yet at the same time without falling into the pitfalls of what happens in the struggle between capitalism and socialism. If we look at purely universal basic income-based coins, they don't do well. They don't really have a a way to create enough value or interest because people are still going with the narrative of socialism doesn't work for the most part. And in many cases, they are correct. It's a psychological problem that people can't get past. Even if it did work, I think how we're wired will prevent many of us from getting to experience the many opportunities it could bring. The thing is, BitcoinNYK is not purely a universal basic income coin, nor was it ever meant to be, nor do we think it would be a good idea. However, we do feel an approach similar to what EOS has proposed of using percentages of whether it be their earnings or inflation or whatever the case is to fund universal basic income would be very interesting to watch. And if anything was going to work, in that way probably would be some approach like that, in my opinion. Now, how we would achieve this, and this is what we're going to put in motion, so this isn't a theory, this isn't something we're going to put off to next year. We believe our time is now in cryptocurrency. We're not going to spend 2 or 3 years developing things. We're not going to spend months waiting. We're going to put experimental projects into motion right now. Uh, because we haven't built a blockchain, because we have such low overhead, we can go on forever. You know, we're not going to burn out, we're not going to, we're not going to run out of money because we are structured to sustain and to go on. And that's the problem with many other coins. They aren't. That's why they're having to lay off, and that's why they're going under. How we plan to achieve this is, unless we get something akin to the second coming, at some point in time Satoshi's coins probably won't be claimed, uh, in Bitcoin NYK. And so a lot of coins, a great deal of coins. What do we do with that value? We plan to use it to fund our Universal Basic Income project that works with BitcoinNYK, which is an operation that's going to be earning, is earning now, uh, through use of social media, through, uh, various uses of advertising through adopting in a much easier way from attention value. And so for us, it's very easy to put this together and see how it can work. You know, sometimes the best thing to do is the easiest thing, right? Sometimes the best thing to do is the simplest thing. And so that's what we're doing. That's our approach. As it seems every other approach, every other approach of cryptocurrency has been tried up to this point, why not try this? And so when we're looking at universal basic income, of course it varies around the world. Using something like Satoshi's value, which is nearly a million Bitcoin, using something like that in our fork would give us the ability to issue, um, coins ranging anywhere from $400 to $800. And we could probably do that with his coins and just say theoretically we achieved the value right now similar to what Bitcoin is. Let's say, let's just, let's just dream and say we hit $4,000 a token and we were on par with Bitcoin. Then that would mean we could basically give an income, a standard living income, standardized living income, to about 10 million people. Just think about that for a moment. And that would be very significant, and I think that would create a huge buzz around cryptocurrency. There's so many things can be done in cryptocurrency, but we really need to take a step back, simplify this, go to the user experience, just like Steve Jobs did. He said, and that's why Apple was so successful. He said he went to the user experience. Are we going to the user experience with all this technology and all these various directions we're going in? And so, you know, that's our approach. Look at Waves doing so great, $2.32, almost up a full dollar. And so do we do that? Do we, do we go to the user experience? And that's what we need to do. So we're going to start implementing universal basic income this month, guys. And so that means everybody in cryptocurrency, everybody in the sound of this video is watching it, you're going to be able to collect, uh, through this as we'll start to penalize people who haven't collected their BitcoinMYK tokens, starting at 1%, going all the way up to 10%, and going into forfeiture. So those tokens are going to be going out back to people as a universal basic income. But the rest of the tokens in existence and the rest of the operations, it will be business as usual. And the earning and everything else that brings value to BitcoinMYK, we will be going on with that. So it's going to be very exciting to watch the experiment, guys. We're going to be around to stay. We're not going anywhere, and we're going to push forward, and we want to experiment in this space, and we want to bring value to this space, and we hope that you join us and help us to accomplish that. But guys, that's all I want to say today. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.