Bitcoin Myk - How To Become A Network Supplier

Hey you, welcome back to the channel. And guys, today I want to talk about how to be a supplier and a top supplier on the BitcoinNYK network. So first, let's explain what it is and how it works. So a supplier is similar to what you might get with EOS block producers or what you might get with Steemit witnesses. This is a— we are a hybrid of several systems that work on a proof-of-work and a proof-of-stake-based model. Um, and how this works is anybody can be a supplier, and the knowledge required to be one is very little. And that's on purpose so that we have a more decentralized approach to who can actually run and be in control of these networks. You know, prior to this system, A lot of only people who could even think about basically being on that level of some type of block producer or witness was a person who had quite a bit of computer knowledge, right? Programming knowledge on how to do this. And so in our view, that creates even more centralization because now it's only so many people who have the ability to do this. So what we've done is we have a different approach. We call it suppliers, being a supplier. And how it works is everybody who wants to be a supplier, anybody can do it who has very basic, um, uh, you know, knowledge about how to set up websites and various things like that. You receive a copy of our, um, of our site here. You can integrate it through even like a WordPress system. You can integrate it through anything. You can host it on your server and you run this and you basically just run a clone copy of this on your server, right? And we verify that. And once we verify that, you receive 2,000 BTM tokens, right? So you receive 2,000 tokens and your responsibility is to distribute those tokens out however you basically pretty much however you see fit. For the most part, you can, you know, you are required to use our links, but the amount you wish to distribute out, um, is up to you, right? So a lot of programs that run on the site, we are required to do that. Uh, you are required to have our links and affiliate programs and various things like that on there, but You can distribute them how you want. Now, the, the idea of this is that of the 2,000 tokens you receive for being a supplier, 1,000 goes to you and the other 1,000 has to be distributed out to the, to the network, right? People coming on your site. So what happens is, um, there is an election held and, uh, on the site with the community, and they choose the supplier who has, um, uh, done a, done the best job of distribute— distributing out the tokens. Um, so they elect the, the, uh, supplier that they feel has done the better job of that, and then that supplier will receive then 10,000 tokens. 5,000 goes to him and then he has to distribute out another 5,000. So, um, they are elected and rewarded with how well they distribute across the network. Um, and these elections go on as the, uh, the user base grows. So, you know, every 50,000 people, another election is held, and it goes on and on like that until we have many of these suppliers running the network as well. What we believe that does is that totally decentralizes our network. The votes are cast over the blockchain, so nobody can cheat the system. You can see who cast votes for that particular supplier in which he is then given over what we term to be an entire block of tokens of 10,000 tokens. Um, if a person is a supplier and they're not elected and they, uh, aren't doing a good job of distributing out the tokens, then what happens to them is they generally, uh, will either start to make less and less, get less and less portion of tokens distributed out to them. Um, you know, to the point it goes very, very low based on their, on their, on their performance and their how they rank in the voting, voting system. So the lower your votes, the less tokens you'll get every month, to the point if you're doing a really bad job, then you'll get less and less and less tokens, right? So you'll be at the very bottom. Um, and so it's all democratic elected, and so it's very reminiscent to some of the election processes you get with delegated proof of stake. So that's, we think that's going to be very interesting. We think it's going to be be a way for everybody to be able to participate on levels like this, even if you have like no prior computer programming skills or anything like that. You know, if you can set up a website, you can pretty much run this. It all will link back to the blockchain. Um, and, um, I guess, guys, uh, that's about it. It's a very simple process. It will be, uh, every about every 50,000 people we hold an election. Um, so before we hold our elects, before we, um, start, um, elect— our first election won't be for about another couple of months. Um, and that'll be the time that we'll start with the suppliers. Uh, anybody who can do it, all you'll have to do is set up a website. You'll be able to get a copy of our, um, of our platform. You'll set it up and you'll start to run it. And once we see you got it up and running, you'll be eligible for those tokens. And then you'll be monitored through links. We'll be able to monitor, uh, how many, you know, how much, how well your activity is, and that you are running the, um, the software right, properly. And, uh, um, then the elections will be held to determine who needs to get more tokens through a democratic process. But guys, that's about it I want to say, uh, in this video. Uh, we think it's going to be a great project that further moves us to decentralization to the point we believe we might end up more decentralized than many other projects out there. But that's all I want to say in this video, guys. If you have any questions or comments, feel free to leave them in the comment section. You want more information about, uh, how suppliers works, you can come over on the site, find out more about that. Uh, that's all I wanted to say in this video, guys. Guys, if you like content like this, don't forget like, subscribe, and until next time, take care.