In this video Michael Joseph Presley announces that the Bitcoin MYK project is extending a penalty‑free grace period until January 1 2019 for claiming both the Bitcoin fork tokens (Bitcoin MYK) and the Universal Basic Income (UBI) tokens. During the grace period users can claim their tokens without any charge; after the deadline a 2 % penalty is applied to unclaimed fork tokens, with the collected penalty redistributed as bonuses to those who have already claimed. The presenter clarifies that the UBI tokens are not a separate “universal basic income token” but part of a broader UBI program linked to the fork, intended to generate regular monthly income for participants and eventually a basic living wage. He argues that token value should stem from genuine demand—driven by automation, robotics, and socioeconomic needs—rather than merely the cost of electricity or mining, likening current cryptocurrency value debates to the penny‑production paradox. The video outlines the project’s outreach strategy, targeting Bitcoin holders, UBI communities, forums, and social media to drive mass adoption, and emphasizes the importance of timely claims before the new deadline. The presenter ends with a call to action to claim tokens, subscribe, and stay tuned for further development updates.
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Hey you, welcome back to the channel. And guys, today we want to talk about Bitcoin MYK and how we have now are issuing a grace period to add to last rather to the beginning of next year, 2019. So what that means is there will be no penalties on either claiming Bitcoin fork tokens or claiming Universal Basic Income tokens. Um, and so you will have now to, uh, January 1st to claim, uh, your tokens penalty-free. Uh, if you go over the grace period, you'll still be able to claim your tokens, but we will issue a 2% penalty. against your tokens if you don't claim. Um, and, uh, we're issuing this grace period because we want to give everyone ample time in order to be notified about the Bitcoin fork so that Bitcoin holders can get their BitcoinNYK tokens and that we can reach out to Universal Basic Income communities in order to get them involved, get them claiming, uh, they're the part of our program that deals with the Universal Basic Income. If this is your first time video, uh, watching the video or, uh, listening to us and trying to understand this concept, we want to be clear and help people understand that this is not a universal basic income token. We want to be clear about that. What this is, is it's a universal basic income program that exists as part of our Normal day-to-day activities, which is a Bitcoin fork, which is using social media to mass adopt cryptocurrency. Okay. And through the generation of value and penalties and bonuses and rewards, we are able to, or at least the hope is, is able to issue enough value to people so that many partakers of our token will be able to have a regular monthly income. And the hope is to at some stage it be enough to provide a basic living wage for— or income, rather— for people that need it. But it is available to everyone. This isn't some type of take from the rich and give to the poor concept. But the grace period will last up until January 1st. That gives you time to claim the tokens. That gives you time to, um, to— if you're— if you hold Bitcoin, uh, because we do follow the Bitcoin ledger, um, we are very optimistic about this. We found a quite a great deal of supporters, especially to the universal basic income ideology. In economics all across the globe. And from what we're saying, we have no doubt that this will be well received and will contribute over to mass adoption. We have many ideas on how to create value with hopefully the large amount of people who will join us. And so, well, we have several videos out now about how we plan to achieve this. but we do believe that this is a much more sound plan than many that we've seen in the cryptocurrency space. What we need to understand about the great volatility of fluctuations in the cryptocurrency market, Bitcoin, is that these are indications that we don't know what the value of these tokens are, right? That's why you get the heavy volatility. We really don't know. The argument is that the, the cryptography and the electricity is what's creating the value. But I would take a step back with that and really look for demand that's creating the value, not like electricity, but not just using electricity to use it to say that it's worth this much. That's the same argument as making pennies in the United States. It costs more to make a penny than the value of a penny, so thus we say the penny is worth such and such and such when the penny is not. We just like pennies, and that's why we continue to make them. But people are trying to come up with other ways in order to deal with penny production because it doesn't make sense economically. And I'm starting to find cryptocurrency, some of them in a similar place with the arguments. And we got to be very careful with that. And it's driving some to say that Bitcoin value may even be as low as zero. I don't believe that, that it's zero value, and I don't think it ever will be. But I do think it's time that we really took a look at this Ask the same question is the concept of universal basic income. What's the value of that? Well, universal basic income is, I'm pretty sure, going to meet a demand level, a very high demand level against automation, against a robotics revolution that not a question of if it will happen, it will happen. And that will drive the demand for these type of products, not to mention families struggling to feed their Children right now, although they are doing very important jobs contributing to society, there is a lot of demand for these concepts. And the value comes from within us. It comes from the people who use the programs. It comes from the people who use the platforms, and we create the value there. So these are significantly different ideas to many that we're getting in the cryptocurrency space, but we think this project will take root. People we talked to about it, we can see enthusiasm in them. And as it goes on, we hope to develop it a lot more, serve the needs of the people. The grace period is now to January 1st. And if you claim your Bitcoin Fort tokens after January 1st, if you claim your Universal Basic Income, if you don't claim it for December, you won't receive any Universal Basic Income for December. If you don't claim your Bitcoin Fort tokens, it will create a 2% penalty, in which the 2% penalty will go back to the people who claimed it as a bonus. So guys, that's all I wanted to say in this video. If you haven't participated yet, uh, don't be late. Uh, try to get in here because, uh, we can pretty much, uh, see that, um, after our marketing takes place and we hit many of the forums and communities and social networks related to, uh, mining of Bitcoin and related to Universal Basic Income, that we're going to see quite the development in the project. So just want to keep you guys aware of that, uh, as development has happened. We thought that it would only be fair to push out this grace period before we start the penalties, and that many people just don't know, no getting the message out. It's like a bottleneck type activity. It does take time for it to reach people and people to figure out what's going on. But guys, that's all I wanted to say. If you like content like this, don't forget to like and subscribe. And until next time, guys, take care.
