In this video, the host announces that BitcoinMYK is eliminating the previous 1% penalty imposed on accounts that failed to claim their allocated tokens within the designated timeframe. Instead, the unclaimed tokens will be removed from those accounts and redirected into a new transaction fee system. The reclaimed tokens will fund the network’s universal basic income (UBI) program, promotional rewards, and other initiatives aimed at promoting mass adoption. The new system effectively provides all users with free transaction fees for life, as the network covers the costs using the reclaimed tokens. Users can conduct up to roughly 30 transactions per month without incurring fees; beyond that, fees may apply. The host emphasizes that this change creates a fairer, more inclusive environment, removing punitive measures while still incentivizing token claims and supporting the ecosystem’s growth.
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Hey you, welcome back to the channel. And guys, today some great news for BitcoinMYK. We have abolished the penalty system we had in place. Uh, we thought that it was a better situation for everyone if we abolish the terms of the penalty of not claiming your tokens on time. However, um, These tokens will still be removed from the account under our new transactional fee system. But there are some very good things about this, and we're going to explain how this works. Now, where it is true that everybody has been given ample time to claim their tokens, for whatever reason, some Bitcoin holders didn't claim their tokens, right? So there was a 1% 1% of their tokens went back into circulation into, uh, the BitcoinMYK system. Now, why that's important is that funds the, um, everything from the UBI program to, uh, being able to, um, uh, award tokens to people who use BitcoinMYK as we are able to further promote Bitcoin MYK to the public. But where this is great for everybody, even the people who don't claim on time, and why we no longer consider it a penalty, is that when those tokens are removed from these accounts, it provides free transactional fees for everybody on the network for life. That's right, you don't have to pay any transactional fees. So you can kind of look at it as a, as this type of, these type of one-time payments that allow you to have unlimited free transactional fees across the network. So you can send money to whomever you want and the network will pay for the fees in order for you to do that. But the, but the issue is, or at least it goes like you can do a transaction every day. Um, and it doesn't cost you anything on average. So if you're— unless you're doing over 30 transactions in a month, which we doubt you'll be doing, then you shouldn't have any problem at all, um, you know, with this system. And it should be technically free for you throughout the lifetime, uh, of your, of your transactions. Now, um, we think that works a great deal better for everybody, and I think it's a lot more fairer system because What we don't want to fall into the group of is penalizing certain people, you know, for certain things in certain ways. And although our system was network-wide, meaning that nobody specifically is targeted, everybody who didn't claim their BitcoinMYK tokens in a certain time frame, every one of those accounts get a 1% deduction. But we think what's great with the new transactional fee system is all these people who aren't claiming for whatever reason— why, who knows why— but if you're not claiming, what you are doing is you're allowing the system to function a great deal better for everyone, providing a UBI, which we think is not giving away tokens, but we feel will create a mass adoption system and a mass adoption coin. And this, uh, we think is a very fair way to go about this. And we think you all will probably agree later, the many advantages of not having to deal with transaction fees, and you can send a value to anybody on the network. So we just want to let you all know about that, guys, um, with the new transactional fee system in place that's replaced the penalties, uh, and, um, of course, if you claimed your, uh, BitcoinNYK tokens like some of you did in a timely fashion, uh, then, um, this— your transactional Everything was 100% totally free for you for life at this point. And so while we think this is going to work a lot better and we hope you all like this system a great deal better. But guys, that's all I want to say. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.
