Bitcoin Myk - Price Holding $0.39/Bitcoin Holders Claim Penalty

Hey you, welcome back to the channel. And today guys, we want to talk about the price of Bitcoin holding, uh, just below 40 cents at about 39 cents, uh, over on the Waves DEX. And we also want to talk about, uh, or give a report on the Bitcoin claim tokens, or rather the tokens that haven't been claimed as of yet. Um, today it's about 16.7 million Bitcoin in circulation, with about, uh, just under 4.3 million Bitcoin that, uh, haven't been mined yet. And so, um, in the month of December, we gave notice that, uh, there would be a 1% penalty against all unclaimed tokens. Uh, and today is January 7th. As we enter into the first week, the penalty has now been placed on Bitcoin holders' claims, meaning Bitcoin holders can still claim their BitcoinNYK tokens, but but now they will claim at a 1% penalty. And so we have just over 100,000 tokens that have not, that have been penalized and are now part of BitcoinNYK treasury to now be circulated to fund our universal basic income program as well as a circulation back into our coin staking and activities on the BitcoinNYK site. So BitcoinNYK tokens are holding around 39 cents. Um, I just checked the Waves decentralized exchange over here on WealthShares, uh, one of the, uh, social media blockchains that we participate with at this time. Uh, and we're going to talk a little bit about, um, the price, and just keep you up to date on what's happening with that. Uh, it is important that we talk about price because price is the way that the market communicates with us about our projects and where the value of our project is. This is about the only way we can really gauge the value of our projects. People are holding our tokens. That lets us know that they find value in those tokens. When they sell the tokens, that lets us know that the value or where the demand for our tokens at. And so we're, we're, um, very satisfied with the price right now, holding at 39 cents. And, um, we're going to discuss, um, where we hope it's going. Now it's important to note that As a founder of BitcoinMYK, it can be quite— you have to be careful when you talk about price. Obviously, we don't want people to FOMO in. Our project is a lot different than many of the projects you're going to encounter in the cryptocurrency space where, you know, people are hoping the price can moon and FOMO in. We want a steady incline in our price. And there's a lot of fundamentals that go into our project, a lot of economic theories that make us different from many other projects. And I'll give you an example of what, what we mean by this. Whereas some people will look at, uh, projects and go, okay, I invest this money and hopefully it moons and I make money on this, and we get these margins and we get this high volatility, uh, we look at it more or less as growing our social network with the gradual value going up on an incline. Uh, there's no reason for us to try to pump or dump Bitcoin MYK. Uh, to us, people who look at the cryptocurrency space and look at— who would look at our coin as kind of like a pump and dump, we would look at that as a very limited mental scope of what Bitcoin MYK is. Bitcoin MYK is a system. It doesn't worry about price. It doesn't worry about pumps or dumps. This is a complete monetary system. The value moves. The price doesn't really matter because of the, the nature of being able to liquidate how BitcoinNYK works. It works as a monetary system. To explain that, it's kind of like looking at the United States dollar and going, someone, will somebody pump the US dollar so we can have more? You don't really need to pump the US dollar because when you liquidate the US dollar or when the US dollar is redeemed, you're getting the value for what the US dollar is. And BitcoinNYK follows a similar situation. The value of the network is what gives BitcoinNYK value. We haven't conducted an ICO. We don't need to conduct an ICO. We can fund this project forever. Uh, it, you know, it— we don't need ICO money. Uh, our tokens are generated by proof of participation, meaning the activities you do on the site are evaluated in themselves and transferred across our network. Um, and so this is a very complicated economic system that works, that creates value without many of the shenanigans and gimmicks that traditional coins rely on. And we're going to talk to you a little bit about that today, about the dynamics of the price of BitcoinNYK and why it works, why it can hold value around 39 cents. Because if you're giving away tokens, essentially, if you're giving away tokens, um, there should be a lot of downward pressure making that price go down. People will get those tokens, they'll sell those tokens, especially if they can keep getting them. So there has to be other dynamics in place that keeps us able to sustain our value. We're going to talk a little bit about that today and help you understand that a little bit better. The complexities of Bitcoin NYK, why it works, why a monetary system works as opposed to, uh, very small pumps and dumps and coins and economic systems and theories that don't work because they lack demand. So, uh, first what we have to keep in mind is, um, there's a great demand for social media and universal basic income at this point in time. Our goal is to get, uh, BitcoinNYK tokens at around $1,000 per token. Um, and so right now what we have in our prices, we have, uh, only 39 cents, but we have it, um, bringing up a lot of, um, support at around 20 cents. And, uh, if we factor our cross-chain token liquidation possibilities, we have another strong support level drop just above 5 cents. So we're very satisfied with the results, uh, first month out of BitcoinMYK. Um, and, uh, as the network grows, as the number grows, and we start to get millions and millions of people using the site, uh, we can see a value in our token gain into values like that. So, um, also want to talk a little bit about, um, the Bitcoin network, what happens when tokens aren't claimed. We discussed that a little bit earlier. When the BitcoinNYK tokens don't get claimed, what happens is they basically will go into the circulation of the website and go back into the network itself. And so it's very important that if you're a Bitcoin holder, you claim BitcoinNYK tokens. These penalties are on a schedule and the schedule increases from 1% Next month it'll be about 2% and it will start to jump, um, and go up and the schedule will be available on the website. So it's important that you do claim the tokens. Um, so to understand where a lot of our, our liquidation and our support levels are coming from, uh, For people who understand how social media works on the blockchain, we have a hub that connects to several social media sites. And what happens is through their social media participation, they're able to basically convert their activity into, coins and valuable tokens, whether it be tokens like BitShares or Steam and various things like that. And because of that, it probably creates more support and less selling pressure on our tokens as well. And so what we have here is we have a platform that has demand and that has value that is reflective in the price and it's going to keep that value within the price. Um, now as well, I wanted to just say that, uh, um, if we can make it to high levels like we want of $1,000, which we think is very possible, uh, that's going to be good for many people. Um, but we're going to do some more videos to help you understand the monetary policies with Bitcoin NYK, um, and, uh, and how that works exactly and how it will be able to be able to be moved from place to place, uh, and act as a stable money. So we have many economic theories about how we're going to accomplish that. But guys, that's all I want to say. Just want to give you an update on what's happening with the Bitcoin, um, uh, claims and the penalties that are going against the Bitcoin holders. They're only at 1% now. Uh, we believe we gave adequate notice. We were listed with Bitcoin fork sites, um, and, um, so, uh, if you didn't hear about it, uh, it's not too late to get in here and start claiming your tokens, uh, at this point in time. Uh, our tokens can be obtained from our website through our proof of participation model. That basically means you don't have to buy the tokens in our proof of participation model, yet they still have value. And we'll get into that in later videos, exactly again how we accomplish that. Um, now from a speculating point of view, a lot of times questions come up about— people will ask us questions like, uh, well, uh, why would I invest in this token? Um, I'm looking to make money. And, uh, understanding value of networks when they're in their growth expansion periods. As we jump from about a few cents to all the way up to a dollar, then back to 39 cents, we can see a, uh, a gradual growth that's happening. And so, uh, from the standpoint of making money and being able to, to liquidate and get value from our tokens, then obviously as you jump in from a speculative standpoint, and as that market value goes up with the use of the network and the people involved in the network, uh, then that creates a type of incline, uh, sort of like early Bitcoin was. How Bitcoin, as the network grew, the network, what you might call the network effect or the brand effect, as it grew, the value of it grew. So we have a very practical approach to this that we feel will work very, very well. You know, again, I'm very comfortable talking about price because, you know, we feel that with the Universal Basic Income program and with people being able to claim the tokens just for proof of participation, that, you know, buying these tokens are less of our focus. Our main focus is on creating a network that really is in demand and serves the people that we feel that the value will be representative in that. And so we will start to see that reflect in the, in the third-party exchanges and markets and various things like that. So we're very satisfied with the results. We hope many of you all or two who have participated in BitcoinNYK so far. We expect things to get a great deal better. If you have any questions about BitcoinNYK, about the price of BitcoinNYK, how we achieve this, please feel free to leave them in the comment section. We are very happy to entertain, you know, any of those conversations. We love economic models and we have experience with, gain the values of social networks. We've worked in areas like that before where we can, uh, you know, gain, uh, basically gauge the value of what social networks are worth, many of what those, um, ideas are based on, various things like that. But anyway, guys, that's all I want to do in this video, update you on that a bit. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.