Bitcoin Myk - How To Mine And Why You Should!

Hey you, welcome back to the channel. And guys, today I want to talk to you a little bit about Bitcoin MYK, how you mine it, and why I think you should mine it. So we're going to talk a little bit about that today. Bitcoin MYK, this project I've been working on after looking at the state of affairs, uh, in cryptocurrency and particularly Bitcoin. Um, and so I want to talk about the technology that exists in blockchain and a conversation that's been going on, uh, where I feel there are two camps. I'm on one side and some people are on the other, and it goes a little something like, uh, we're in a space where we need to develop more and more for people to use, and that will, you know, bring more people in, and that's what's needed. And then it's kind of this other idea where there is a lot of development, there's a lot of technology. Bitcoin's been around over 10 years, but people just aren't using the dApps, they just aren't using the applications. Like we would like. So on one side, there's a, you know, a different mindset about it. On the other side, there's a different one. And the reason I think that's important in the conversation, and particularly in why you should be mining Bitcoin MYK, I think, is because what's become commonplace is that a lot of coins will go out and it will build their own blockchains. And these blockchains, you know, to be realistic and to really take a look at it, when you go build a blockchain, in most cases, it's not going to be as sturdy or sufficient as Bitcoin, right? It's probably not going to be able to withstand a 51% attack, which is gonna, you know, make it not the most secure. Here's my thoughts on that. If that's going to be the case, then why not use the blockchain that is strong and able to do the things security-wise that you needed to do? Building an inferior blockchain I'm not, you know, obviously tokens, if they're not Bitcoin, they have their own directions and obviously they have to build their own blockchains in that regard. But I think I'm speaking specifically to tokens that fork from Bitcoin, right? Or tokens that don't need to have their own blockchain, tokens that can run on existing blockchains. and in some cases I think this makes more sense, and in our particular case it does. As well as that, that allows us to give all those costs it would have expenditure-wise been on us to build a blockchain, whereas we can use another blockchain. So why are we doing this video? How can you mine if we're using somebody else's blockchain? And why are we using terms like mining? So what we're going to do is we're going to explain that a little bit and show you why, although you might not be mining our blockchain, mining the blockchain, which is the Bitcoin blockchain, is, is going to be just as important. And so we're going to take you through that. So how our token works, it runs on the Waves decentralized, uh, the Waves, um, blockchain. Okay, Waves blockchain is very fast. Transactions are, are super fast. I, I think they got to be about the fastest there is. If someone's faster, they probably nanoseconds faster than that. And they obviously, it was designed by a, or basically a rocket scientist by the name of Ivanov, I'm sorry, Sasha Ivanov from Russia. And it's just a great platform, it's just a great blockchain. And, uh, gonna talk about a little bit reasons why we chose that a little bit later as well. But let's just take a look at why we're calling this mining and why we think this is important. So, um, basically how BitcoinMYK is going to work here is we want people to continue to mine the Bitcoin Bitcoin blockchain. But here's the catch. When you mine the Bitcoin blockchain, your tokens automatically fork into Bitcoin MYK tokens, like, like any other standard fork. Okay, the difference here is though, as you mine Bitcoin and the value of your Bitcoin holdings goes up, so does your BitcoinMYK tokens go up. So as long as you keep mining the Bitcoin blockchain, you're as well mining BitcoinMYK. So some people might say, well, that doesn't make sense. Why do you need to mine it? You're not securing the BitcoinMYK platform. Why don't you just— why do we need that? Why don't we just use Bitcoin? Well, The one of the big issues with Bitcoin has become that Bitcoin pretty much just works as this store of value. It does not work well as a money. Over the last 10 years, it hasn't been able to mass adopt. And a lot of people say, oh, well, that's, you know, that's still not enough time. But Bitcoin has done many, many things. It's, it's been featured on the futures part of Bitcoin, is featured on the CBOT, the biggest exchange, one of the biggest exchanges ever created, Chicago Board of Trade. Uh, if you don't mass adopt after that Bitcoin futures, uh, my theory is that it's something wrong in the actual structure of Bitcoin and its communication with the outside world. And I believe that sends a lot of red flags to me, that it's just something wrong in the, in the structure of Bitcoin and communicating to the public. And until that is changed, it won't mass adopt. That, that is my viewpoint on it after really taking a look at it. So that's, you know, that's, that's one issue with it, you know, that it can't be used as money as well as the store value. Just doesn't work well as money. So that may lead some to go, well, why don't you just, you know, use one of these other great— we can use one of these other great coins, whether it be XRP or DigiByte or Dogecoin or whatever. And use that as a money? Why don't you just do that? Well, the problem there is that all of the hundreds of millions, several hundreds of millions of dollars almost, that's been invested in Bitcoin— the people who have invested that money in that, they won't be able to share in the inherited ledger of Bitcoin, which is the standard definition of a fork. Now there are many definitions of forks. I know people are accustomed to hearing specific definitions of forks where it forks at a certain block. There's a big— is there a hard fork? There's this big update to the Bitcoin protocol and then they're, you know, they move on from that to setting up, you know, another token, in which case there may be a dominant token or there may not be. And that is one standard specific definition of a fork. But at the basic core level, what we're going at, it's sharing the Bitcoin inherited ledger and everybody's value being dissipated and going into that, or spread out, distributed across that new token. Now what's a little bit different on And I think it's important on how BitcoinNYK will work is as you mine Bitcoin and your holdings of Bitcoin goes up, so will your holdings of BitcoinNYK. It will not work like a standard snapshot fork where you basically have to, you know, have— take that snapshot of that wallet at that specific time, and then after that whatever happens, you know, then that's it. With this, this is kind of more like an ongoing process. Now, how we are able to verify that your account is basically belongs to you and that there isn't any double spending is because we can use Bitcoin digital signatures or depending on your type of wallet, we can use test deposits, right, with the lowest amount of Satoshi. And so we'll always be able to verify that it's your account, uh, so that there isn't any kind of fraudulent behavior. And we are able to as well issue you the additional tokens you've mined, whereas at the same point in time, giving us many features, uh, over the blockchain that Bitcoin does not have at this point, like super fast transactions, um, Now, you know, the people could say, well, you know, we have Bitcoin Cash, we have Bitcoin Satoshi's Vision, and we see the huge debacle that's going on in that. What I think is that, you know, there may necessarily have to exist several of these type of formats as there is so much going on However, there are significant differences still within Bitcoin NYK why we feel it has to exist. And that is because basically Bitcoin hasn't done a good job of mass adoption. I don't see a way in the future it's gonna do a good job of mass adoption. And how BitcoinNYK is set up is it's set up to act as a social network hub. Uh, and we have a series of videos on exactly what I mean by that, and we invite you to watch them. But to simplify this very easily, if your grandparents right now want to come in and own BitcoinNYK, they they would pretty much be able to do that by themselves, maybe even your great-grandparents. So BitcoinNYK, as you can see, it's a very simple user interface that's going to have a wallet setup that runs on the Waves blockchain, which has the Waves wallet and built-in decentralized exchange. Now, a few very important points. 2 points with that. Not only is our interface super duper easy to use with Bitcoin, um, uh, to, to get into cryptocurrency, uh, like I said, if your grandparents can, can use Facebook, which many can at this point, they're gonna have no problem getting BitcoinNYK tokens. But in addition to that, As our wallet is integrated into the Waves, uh, platform— Waves is ridiculously— it has to be the most easiest wallet built-in exchange I've ever seen. The interface is very easy, smooth, well laid out, very simple. That's what we're— what we went for with this, guys, for mass adoption. Simplicity, as simple as possible. We want to stay as light as possible, meaning no building of blockchains because that's costly. The blockchains more likely are inferior, they could be easily attacked, and the majority of blockchains are like that throughout the cryptocurrency space. Um, so it doesn't make sense for us to do that. But why do that when we can take that money and put it back into the value of the token and the users and the investors and all the people who've lost such a large amount of money from their Bitcoin investments. You know, what we forget is Bitcoin has made money for people who jumped in early, but there's a lot of people who've been hurt, lost a lot of money, who've walked away from Bitcoin never to return. Those people are gone forever because of the damage that Bitcoin's done on the way. Down. And that's been a lot of people and a lot of money lost. You know, we, you know, a lot of us in the cryptocurrency space tend to look over that and think it's going to be okay. It's not going to be all right. You know, we don't even know 100% yet if Bitcoin is going to be the dominant coin. But what we do know is that Bitcoin works as the best store of value right now in cryptocurrency, and just that and only that. And I think what BitcoinNYK is setting out to do is not only be a companion to it in that capacity to move it from just store value to money, but then to also circle around and move it to mass adoptable interface with a very simple social media-like approach. Um, and so getting back to Waves, Waves helps us do that through the monetary side of it, its own blockchain. Which a lot of money was poured into one of the biggest ICOs that we get to get value from, which makes sense. Let them hold the cost, let them burden the cost. We keep the money and we give it back to the people who need value there in that area. That's our approach to it. Now again, if you're a Bitcoin miner, we want you to just keep doing what you're doing. All you have to do is come over here and we can check your balance and we're able to match you with the BitcoinMYK tokens. Waves has been adversely affected by the recent pull-downs in cryptocurrency. And what I mean by that is that Waves has had gigantic rallies this week. And let me tell you why that is. I've always liked Waves and that's why we chose the Waves blockchain. Waves came out with this new mobile, um, wallet interface, uh, super simple to use, makes a lot of sense, and that's what caused it to go up because people are catching on how easy Waves is to use combined with this interface and this system of how we're doing things here. Using the social media approach for mass adoption. Not just our social media site, but we're connected and involved with other social media blockchains or sites that use social media to kind of create this avenue to where we can move information out through them and back to us, getting more people in a more organized, mass-adoptable way. And of course, social media is the best way to pull them in and make it relatable to them. So this is why you want to mine BitcoinMYK. Or if you don't want to call it mining, you can call it verifying your Bitcoin mining, and to work in addition with BitcoinMYK. Now there are many other ways money can be earned on the site and BitcoinMYK tokens given out, and we will be explaining that in some future videos. We have a lot of great ideas on how we're gonna make this a great cryptocurrency that actually people can use every day for anything. And so, guys, if you have any questions, comments, or concerns, please feel free to leave them. If you hold Bitcoin, don't forget to pick up your fork tokens. We do have some bonuses and penalties running over the next several weeks, which we'll be explaining and updating you on. Right now, guys, that's all I want to say. Until next time, take care.