Bitcoin MYK - Minting Tutorial

Welcome back to the channel, guys. Today we finally get to do the BitcoinMYK tutorial on how to mint BitcoinMYK. So this is going to be an exciting video. Uh, it was one that, um, we want to do for a while now. Um, and so what we're going to do it today, right? So The site you're looking at right now on your screen is not BitcoinMYK. You're actually looking at Hive.blog on Hive blockchain. Why are we looking at that? Well, there is a very, very simple reason why we're looking at this. Uh, in this tutorial, we're probably going to, um, it's probably going to make a lot, a lot of sense to many of you all, or at least probably half of you all. If you already use Hive, right? Um, and so if you don't use Hive, it's probably going to take a few extra steps for you all. But if you do use Hive, this should be a cakewalk. It should be no reason for you to walk in and go, what do I do next, or where do I go? Because you're already quite acclimated to, um, how to, how to get a Hive coins and such and how that process works, right? So it's different from Hive, but some of the basics are, you know, in this. So we want to cover that first. And for some of you all who don't use Hive, a lot of this is probably going to naturally make sense, but don't worry, just sit tight a bit, we're going to get over to you. So what you're seeing on Hive, you're seeing people writing articles, and I know some people are going, oh, I'm not an article writer, and, and that's basically what Hive dot blog is all about. You know, there are various applications that do a variety of things, but this is generally the simplest way to explain it because what you see here is people posting to what would be like social media over the blockchain and they're earning money. This is real money. This is the cash dollar equivalent to what they're earning in the coin, and they're just doing articles on a variety of things and the members come in and they, uh, You know, they upvote them and there's this kind of inflation system that pays them against the cryptocurrency. They can go sell or do whatever they do with it, right? Um, so BitcoinMYK is very similar. Now you might call it, you might think of it like likes. If I like your, your post or commentary or anything, if I do likes or something, uh, you might think of that, you think of it that way. Think of it like those likes equal money and so on. The reason this is kind of important because it really speaks to a person who, especially a new person who doesn't know much about cryptocurrency, but he's learned about cryptocurrency through what? Probably social media. So in social media, it's a very easy onboarding process because they get on here and they're doing things they typically do on social media. Maybe they're putting out a post, maybe they're making friends, maybe they're commenting. Whatever they're doing, uh, somebody might like what they said or what they did, um, and then every time they get this like, what they call an upvote on Hive, they earn money. Okay, so the Hive people should pretty much have that down pat by now. Uh, it should be no reason that a Hive user or a person who's used these type of systems before, whether it be Hive, Steam, or the many others that exist like this, and they're even on Ethereum, uh, as such. Because I know a lot of people who are with the Hex Pulse community who probably watch the channel or the Zen, they're probably used to using platforms like Ethereum and such. And so this might be foreign to them, right? Uh, full disclosure, I think Ethereum sucks. I think Ethereum wallets suck. I think they're outright horrible. But that's a topic for another day. With this, uh, these wallets are much more user-friendly. The UIs are much more user-friendly. These are perfect for onboarding a lot of people, uh, onto these things, right? So you get the basic gist of that. And if you're a Hive person, keep all your skills in mind that you learned on here. We're gonna go over to BitcoinMYK and help you understand things over there. All right, so when we get on BitcoinMYK.com The first thing you want to do is go to the top of the screen where you're going to see this 3-prong button, right? You're going to click on it. Hold on, I'm sorry, I clicked the wrong one. Go all the way to the top, click on your menu button at the top, and I'm going to come down here to complete registration, right? All right, let's see what happens when I do that. All right, when you get to complete registration, you're gonna have the option to create a new account. So you wanna click on that. All right, now here's where it gets important, right? So You're gonna select the username for yourself. So let me explain how this works, right? Because I don't want people to get confused in this. So if you're— if you've ever used like delegated proof of stake, maybe something like EOS or Steem or Hive, you'll find that instead of having the long alphanumeric user IDs, right? Um, you have, you, you know, you can basically just have a basic user ID, right? And so it could be simple. Uh, I think this is good especially for new people, you know, who aren't used to dealing with just long keys and all that stuff, and it's just uncomfortable to them. Um, and so this is more like your standard social medias, although it's on the blockchain, right? So when you Enter your information, right? Here's the thing. You don't use your real, you don't, you know, just like unless you want to, you don't have to disclose any of your real life information, any real names. The email address is just so you can receive, um, you know, your, your keys and ways to, um, basically, uh, you know, uh, you know, reset your passwords and such. And then you can, um, You know, do all those things. And, uh, uh, even a dummy email would be fine, um, you know, if you don't want to associate it with your main emails, right? So your privacy is such, and all those things are of the utmost importance. And so some people get confused. They think they have to provide their real names and things like that. Nope, nope, nope, nope. You don't have to do any of that you don't feel comfortable with. This is just so you can access the information and details about the platform. Once you've figured, filled all that out in your email, you're gonna go ahead and confirm your account as such. All the basic standard things that you, you do on, in these type of platforms. Once you check your, your email, verify your account, congratulations. You have been onboarded. You already have a wallet and a crypto account, right? Um, and so that easy should take you about 30 seconds to do that. Uh, we've just onboarded— we can just onboard 2 billion people like that today and, uh, would be no problem. They'd all be in the cryptocurrency right now. Let's get into the minting function, right? So let me see here. I'm going to try to find, uh, somebody here. I'm going to start minting. So how this works, guys, how you mint the, the coins, how they come into existence, is we use something called the proof of participation model. That's not stolen from XEN. It was created years before XEN came on the scene. Now what is different, the technology that we do have that is different, is we have the proof participation algorithm that works different in that basically what happens, there's an AI that is basically analyzing what you're doing and, uh, based on your participation, it's able to extrapolate the value of that level of participation you're doing, right? So let's say, for example, I'm gonna like this, I'm gonna like this post right here. I'm gonna click on like. Okay, I've now liked it. Right now, here's my wallet balance. I have 352 Bitcoin MYK. Right now, here's how you, you look at the algorithm to see the results of the algorithm and how well you're doing. So you're going to go back up here to your menu button, click on menu, and then you're going to click on your wallet. I'm gonna click wallet. All right, when I do that, it takes me to my transaction histories, which is going to detail how I'm producing the coins and such, right? Looking at a graph, how well my level of participation has been, right? And then when you get down here, you're going to see right here I received a BitcoinNYK token for adding an activity to favorites, right? In other words, I upvoted it, I liked it. And then I earned 1 for, for a site visit. There's a page on the site I visited. So here's how this is working, right? Instead of— and here's the problem was with like many of the Hive products and services, Steam and such. In many of these social networks, the decentralized social networks on Ethereum, is in order for you to have to get the cryptocurrency, somebody has to give it to you. Like they're basically tipping you, right? This isn't a tip system, although it can be used. You can tip people directly, but this isn't what this is. What, what's giving you, rewarding you the coins is the algorithm itself. So there's no people involved. You can be totally solo on this and engage in this system, and you'll be working with the AI. You know, it's no favoritism system, it's no nepotism system, and we did that on purpose to make a better product than what we're getting like on, uh, Steam and Hive and all those things, right? So you, as you can see, you're kind of just able to mine what we call— we, we kind of in these delegated proof-of-stake systems, we kind of call it mining through your participation as such when you're, you know, doing various activities, because what you're doing essentially is you're creating network effect and building up the network of the coins, right? So every day I log in, I'm getting the coins. Everything I do, the system goes where you've contributed this much value to it, and it runs on an algorithm, right? The algorithm can extrapolate the variety in the task, and it gives you different cryptocurrency amounts based on what you're doing. Like if you create groups and such, you're gonna get more for that. And all this is totally free, right? That your network effect, you're creating the value in the network by participation, right? Does that make sense? And it's really that simple, guys. It's really that simple. 'Cause I wanna keep it simple because to onboard millions and billions of people, we don't wanna get into a system that runs like an Ethereum wallet where they gotta sync wallets, where they gotta know how to handle gas transactions. You can do your transactions totally free on our platform, um, sending them from a wallet to wallet as much as you want. Now there is a second part that gets complicated, it gets a little bit more complicated, and you might have to rewind the video, watch it a few times, let it sit with you. And, uh, you can always contact us live support on the site where somebody's always around live, or if you leave a message, we'll be sure and get back to you and give you the answer what you're looking for. right? So very simple process with this. It's intended to be the simplest cryptocurrency on the planet. That's how it's intended. But here's where it gets a little bit more complicated. And here's what we all need to understand. In order to scale this product on a level like we believe we can, in other words, just think for a minute. If we can reach 2.9 billion users using this system. We're gonna need a lot of, uh, of power to be able to scale. We're gonna need a lot. And so one way we do that is piggybacking off of blockchains. Now we have our own blockchain, we have our own system, but we understand that being multi-chain and being on many chains is the way to go. Now you can kind of think of it in terms like what Zen did uh, it's multi-chain, uh, launching, right? But here's the thing, that's not original to XEN. We did it first. We were multi-chain years ahead. So to be honest with you, the XEN community as such, it's almost like XEN looked at our playbook and copied it verbatim, almost, to be honest with you. And we did it years ago, but we had to work on this algorithmic technology, which took us so long to really get it out like I wanted because I was creating this project to solve all the problems of the greatest men in history's problems, the greatest people who championed universal basic income, the scissor's dividend, dividend in history, how to fairly distribute this in a way that was, uh, relevant, uh, and that people could relate to, right? And the easiest way to do that was through like a social media-like interface. So We had to create that system and produce this in that way. Here's the difficult part we're going to explain next, right, that we're going to show you to help you understand. In order to be multi-chain, right, all wallets have to sync with those other wallets. How are we going to do that if we're on several different chains and they have different chains? We're like on Bitcoin Cash, we're on Hive, Steam, Waves. We're on soon-to-be Ripple, and we're on Matic, right? Bitcoin Satoshi Vision. So we're on many, you know, several chains already. How do we do this? So the next part, the next easiest part would be the biggest market for us right now would be Hive because of the free transaction and such. It works better with our product. It's going to be more, uh, create that more of the network effect, uh, getting around all these fees and such. Remember, we're going out to big numbers, networks, cross-payment, sending payments cross-border, all that good stuff, all the stuff that makes cryptocurrency valuable. So what we're— what you're going to need to do, the easiest way it's going to do this is get you a Hive wallet to, to send your coins too. That's because we're on mostly Hive exchanges. We're on— right, that's going to be a fairly easy process as well that you can get a lot of help with. Um, there are great tutorials on how to do it. Uh, most of the time it's free. They'll pay for you, go through, uh, um, uh, sites that'll take care of that for you. But let's— let me take you out there and let's look at some All right guys, also your profile pages, they're going to be set up to look more like, uh, your standard, uh, social media profile pages. Again, all this intentionally done to make it easy for even your grandmothers or somebody to use this stuff. Um, and you go directly to your page, going to show how much your coins you got and such, and you're going to be able to transfer that out through your wallet. Section, your friends. Remember, you earn for having friends, you know, you mine it. All that is considered minting the tokens, right? When you do these activities, again, you go to your wallet, shows you how to do all that stuff. The groups, when you create groups or join groups, do articles, and you don't have to have any particular skill. You can just comment and get upvotes. Uh, you just do your commenting, you could just look at people's pages, you could just upvote all that stuff. Just like their pages. You're gonna, you're gonna earn. The algorithm does all of that automatically. Um, but let's get over to Hive, go back to hive.blog because they have an area there where it shows you how to get a wallet because you're gonna want to send your coins over to their exchanges, right? So you can start trading against, uh, major cryptocurrencies like Hive, Bitcoin, MYK, and the others. It's search. So one of the exchanges we're on is, uh, Hive Engine, right? And, um, this is what you're going to want to send your coins over. And the reason you're going to do that, because once you send your coins, your BitcoinNYK to Hive Engine, you're going to be able to trade it for Bitcoin, Ethereum, all your major cryptocurrencies, Dogecoin, Unfortunately, HEX and POSE is not listed on Hive Engine, not yet. Maybe it will be. But if you want, if you're from that community, all your other favorite coins, USDT, Tether, whatever, your stable coins, all your stable coins, you're gonna find on Hive Engine. You're gonna find on Tribal Dex, which I prefer. And so maybe I should have took you over to Tribal. In fact, let's take you to Tribal Dex. That's a That's probably a better exchange. All right, so we're on Tribal Dex now. You see Dark Energy Crystals. Many of you are probably familiar with Splinterlands, uh, the game Splinterlands. That's who's responsible for, uh, many of these exchanges. I'm not sure if they're from— they're responsible for Tribal Dex. I'm not sure. I know they are for Hive Engine. They got Splinter Shards. But then you start to see, you start to get into your major cryptos like Litecoin, Bitcoin. So you can, you can trade your Bitcoin MYK that you mine for all these, all your major cryptocurrencies, Tether. And then from there you can get them to, if you're part of XEN community or HEX community or whatever, you can get them over there. It's really that simple. But some of you all, the biggest problem, if you're not already in this community, a lot of people already have wallets here, so it's going to be a cakewalk to them. If you already have a Hive wallet, you can claim your wallet, your Hive wallet, basically on BitcoinNYK. All you have to do is use your same user ID, uh, to when you create your account, and it'll, it'll link to, it'll link to that, to that, to that particular wallet. Now it links easy, uh, and all the payments will go into your Hive account. So you don't have to worry about, you know, somebody, you know, some problem with it getting there. It's going to automatically— everything's going to go to your Hive wallet that's done on that account, right? There's Ethereum, what many of you all like that I don't like. So anyway, now let's talk about getting an actual wallet. Let me try to log in here. All right, so when I try to log in, it's asking me for my Keychain ID. Download Hive Keychain. You can do that on— when you click it, it's gonna— you, you can do it on Google Play Store. It should— Google Play Store. And it's basically like a browser wallet, kind of like those MetaMask wallets. It's gonna be in your browser, right? And basically you're gonna have all your same private keys, etc., and all that stuff, but because we use standard user IDs on the Hive blockchain and such, what you will have is you will be able to have a, um, you can make up a, a very easy username and your private keys and all that will be in that wallet. It'll be generated, so it works just kind of like a MetaMask wallet, right? Um, and once you have that, you got no problems. You can just send your payments directly from BitcoinMYK to Hive, right? And you can start trading, right? Like for any of your major cryptocurrencies. We're on like 4 or 5 different exchanges, but I'm not going to get into those because these are going to be the highest traded at this point in time. So this is going to be definitely the ones you want to be on, you know, starting out, you know, starting off. Um, is there anything else, right? So minting, you understand it's an algorithm that automatically finds the value of your levels of participation. You're minting the coins by what you do, right? This is the algorithm we've been working on for like the last 5 years, right? If you make friends, if you post, just standard social media activities participation anybody could do because it's meant to decentralize mining in cryptocurrency. What we have in cryptocurrency is we have miners who are basically centralizing the network because everybody can't have a data center, a big data mining center like in Bitcoin, right? And so a lot of people are excluded from the mining. And so if you're not a miner, you're not really represented. Whereas with delegated proof of stake, uh, you can at least vote, uh, oftentimes on those you wish to represent you in mining, right? And, uh, that's how they're able to create free transactions, faster transactions. Obviously, they're— they have these delegated witnesses, right? These, uh, validators, as you probably call it on some of the other chains. But, um, you know, you're at least able to participate in a democratic way to get those people And BitcoinMYK, again, uh, it is— has its own chain that you can use totally independent of it. You can do all your commerce and everything straight from BitcoinMYK.com. But for those of you all, when you want to take the coin out of the ecosystem, in other words, you want to cross-bridge it to, uh, these other, uh, chains and get other coins and, uh, get it to the US dollar or whatever your currency of choice That's when you would need to sync up with like a keychain wallet app. So it's very easy. Uh, there is— to do a transaction, it's, it's pretty much— it's, it's so close to free, you might as well all say free because there are sites— let me see if I can pull up this one site— that will actually give you like 2 or 3 Hive. So your wallet itself is free. Let me pull that up. Okay, so I believe you can go here to SNC, I think it's pronounced, dot com. It has an app you can get as well. And my understanding is they were giving, uh, free wallets the free, um, coins because every 24 hours it replenishes. It uses something called resource credits and you get them replenished every 24 hours. So basically what happens is A standard user doesn't use, uh, all their credits in 24 hours, so it essentially ends up being all your transactions are free. So it's very interesting, and if you guys use these systems, I'm sure you're going to be like, hey, this works way better than Ethereum, PulseChain, all put together. We shouldn't be using any of those things, and I'm sure you'll see it the same way we see it. Um, and if you have any problems, uh, keep in mind that On BitcoinNYK.com, you can still earn the BitcoinNYK tokens doing everything, doing transactions like you normally do. Uh, um, you know, in the meantime, if in case it does take you like 24 hours to get a wallet— it may not, um, you can bypass it. I, I think a wallet's only like 40 cents or 80 cents or something like that, so it's, you know, it's no big deal. But, um, you go through sites like S&C and their many other applications in the Hive community where they will, you know, basically give you the wallet free if that's a problem for you in any way. Again, if you already have a Hive wallet, you can claim your same username on BitcoinMYK. Just type it in, put your username as your wallet address, and all your earned coins will go to that wallet. right? Uh, I hope that helps. Um, I'm glad we finally got a chance to do that tutorial. Kind of getting tired of talking about Pulse and Zen. I think they're inferior products to this, and I think you all are going to agree. But, uh, I hope you all check it out. If you have any questions, don't hesitate to ask them in the comment section or on BitcoinNYK.com. Again, there is live support over there. We'll be more than glad to help you walk you through it and get you sorted and get you started. But that's all I want to say in this video. Until next time, as always, take care of yourselves and each other.