In this instructional video, the presenter introduces the Miner Transfer Agreement feature for BitcoinNYK simulated miners, enabling holders to resell their miner rights. The process involves holding BitcoinMYK tokens in escrow via the NYKOS account on Steam Engine until the agreement is finalized, after which tokens are released to the seller. Viewers are guided through the terms of the agreement, including finality of transfers, account responsibility, and the necessity of matching Steam account names. The video explains how to negotiate and document the sale using forum threads, outlines considerations for pricing the miner rights, and clarifies that simulated miners are non‑physical, proof‑of‑work entities that piggyback on the Steem blockchain, offering a low‑environmental‑impact way to participate in mining. The presenter provides a link to the agreement, encourages viewers to use the feature if they wish to sell a miner, and ends with a typical call to like, subscribe, and stay tuned.
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Welcome back to the channel. I hope you're having a great day. So today we want to talk about BitcoinNYK and our simulated miners. So one of the latest features we were introducing was the miner transfer agreement. This gives the ability to BitcoinNYK holders who purchased our simulated miners, they will be able to resell the rights to this miner to anyone they wish. And so we've carved out this area here on the site where they can sign off on transferring that agreement. Now, what we do is we hold the BitcoinMYK tokens in escrow until their agreement is done. And it is between the miners and whoever wishes to purchase their miners to work out whatever agreements they want to have in regards to releasing the rights to the miner. we will just, at the signing off and conclusion of the agreement, we will issue the tokens to the, the miner owner who sold a miner. So it's a very simple process. This only works with the BitcoinMYK token. You do have to have a registered account with us, and we're going to read some of the, the terms of the transfer agreement, how you sell your miner. So this talks about this section will serve the purpose to facilitate Transfer of simulated miners. Miner owners may write out an agreement for their series of miners and the terms in which they wish to transfer their miners to another party. Upon agreement of the amount of Bitcoin NYK tokens to transfer, these tokens should be sent to account NYKOS on Steam Engine. That's going to be the escrow that's going to serve as the escrow account. Um, once the tokens are accepted and accounts agree to carry on with the transfer, the miner will be transferred to the new owner. The seller will receive the BitcoinNYK tokens agreed upon. All transfers are final. Accounts should match your Steam account. It is a good idea for it to match your Steam account names, or you must contact system administrator for further details. All parties agree they are solely responsible for their accounts and whatever happens in those accounts. If your account is stolen or compromised, you agree to be responsible for the account. So that just basically means like if you If you decide to work out an agreement, um, basically to, uh, sell your miner rights, your mining rights, um, and let's say your account is compromised, somebody gets the password, maybe you leave the password somewhere and somebody steals your password and they come in and, and they issue this agreement, right? Or they get access to your account. Uh, we're just saying that the process is final and that you, you know, you agree that, uh, whatever you accept, whatever responsibility happens in your account to that degree. Um, and so, um, basically, uh, you can sign here on the forum, uh, basically reply to the miners, and you just use the forum threads to decide what agreement you want to make. So that means if you, you know, you decide that you want to sell your mining rights for X amount of Bitcoin MYK tokens, you're now able to do that. right? Uh, and that's pretty much all it is to it. Um, um, we just need a way to facilitate that for the, for the miners. And it's just another option, you know, um, for, for your miner to, to, to pass off that value to someone else for whatever reason you might want to do that. Um, now of course, um, you know, the simulated miners do have a certain value, uh, and, uh, you know, it's probably you're gonna you know, have to, you know, it's going to have to be less than the, the value of the miner, right? You know, maybe at least slightly less, right? Uh, to incentivize people to want to do the agreement. But, uh, yeah, just another feature for, for, for the simulated miners. If you're not familiar with our simulated miners, uh, this isn't a standard physical miner that you will buy and, uh, basically create so much electricity costs and waste to the environment. This is a another solution around mining. Um, we all need to use proof of work, but because we piggyback off the Steem blockchain, we do not have to have the physical miners. But this is just a way to give opportunity for people to experiment with mining, to kind of participate in the gaming aspect of how we do our miners through the, um, random algorithm that selects your miner to win the block rewards. And just a lot of fun. But, uh, well, we got videos on it. I will leave a link in the description to the miner transfer agreement, uh, so that you can, um, uh, check it out. And, um, and basically, um, you know, if you ever want to sell one of your miners, start using this, uh, this process. But that's all I wanted to say, um, in this video. If you like content like this, don't forget to like and subscribe. And until next time, take care.
