Bitcoin MYK - Stakes 100,000 Hex To Fund UBI

Welcome back to the channel. I hope you all are having a nice day. So I want to talk about BitcoinMYK, a project I'm very passionate about. And as you can tell from the title, um, the BitcoinMYK project has staked 100,000, uh, HEX coins, uh, in an effort to help with the funding of our Universal Basic Income project. So many of you who watch the channel probably have figured out I'm a big believer in universal basic income, and it kind of empties over into the cryptocurrency space. Now it works a great deal different in the cryptocurrency space, whereas, um, I— part of my fundamental beliefs now is that, uh, every human being on Earth should have the right to basic needs, roof over their head, food, shelter, regardless as to what systems they're part of that say otherwise. And I can go deep into these foundational ideas, everything from private property to ideas like every inhabitant of Earth should be able to pretty much own about 7 acres of land. To the point of the Earth belongs to no one. So I can come with all these, these great utopian-like ideas, but in our, in our standard, um, uh, uh, society and structure of our systems, uh, I do believe that universal basic income should be, uh, something that we all should, should be able to take part of. Now this translates a bit differently in the cryptocurrency space, you know, although it has the similar idea of it and it has the mechanisms to deliver such ideas or to deliver, you know, to basically make a system like this work. It just works differently in cryptocurrency. Cryptocurrency is a different animal entirely. And what we've done with cryptocurrency, we've used ideas like giving away free cryptocurrencies as part of marketing tool, right? If we go back to the early days of Bitcoin, Bitcoin was mostly given away. You know, a lot of people probably weren't around back then, but if you go back and do a lot of research, a lot of Bitcoin was given away absolutely free. And then we start to get these ideas like later on, these very corporate institutionalized ideas of Bitcoin. We get mining data centers that only you know, very people of high technical aptitude can, can use. And, and that, uh, these ASIC mining rigs and a variety of things, people that common people won't really use, uh, a far cry from when people could just kind of sit home, uh, with their computers and mine on their GPUs and, and, and what have you. So, so, so what is done, uh, you know, is basically, I believe, centralized much of our key cryptocurrencies more so than ever and taking away the spirit in a very quiet ideas of what I believe translated to, uh, much of Satoshi's idea of giving the power back to the people, giving money back to the people, right? But you can't give money back to the people when the exchanges, uh, the cryptocurrency exchanges have taken the places of our banks. We can't give money back to the people when institutions have come in and taken over Bitcoin and these institutions and corporations seemingly lie in a cabal with the government. So that is not money by the people, that is not cryptocurrency by the people, that is something else now. And it has caused some of us to not see Bitcoin as a shiny beacon anymore. So why am I saying all of this and why are we participating in Hexcoin? Well, originally we believe that the Hexcoin project shared very similar ideas to what we believed as far as better distribution systems, going back to ideas like universal basic income. What we believe in cryptocurrency to be, uh, the ultimate, uh, distribution, uh, machine. Uh, I believe that the Hexcoin project, it was more so about distribution of this token, uh, where they would, uh, basically, uh, have, uh, many ways people can obtain these uh, coins, whether it be through affiliate programs or through staking or what have you, uh, exchanging their Bitcoin. Now we know that, uh, the recent— in recent times, many of these ideas have, uh, come under quite a bit of scrutiny, and there's been quite a lot of unanswered questions about Hescoin, and it's led many to believe that, uh, this project, uh, might not be what a lot of people are looking for. It lets many to believe it might be a scam. This would More questions have come up than answers, it seems. And so we're kind of now left holding the bag with Hex coins right now. What happens with Hex coin? Maybe many of us don't fully understand it, it ends up being a great project, or maybe many of the naysayers are right about it and it ends up being not a great project, or it ends up being an illegal project or a scam or something to that degree, all of which wouldn't be good. In any event, we're now left holding the bag with these HEX coins. What do we do with them? Well, seeing at this point in time that, uh, there are so many opinions about this and there are so many, uh, scenarios that could play out with this, um, and we're kind of in the netter, a netter region of, uh, you know, between good and bad with this project, the best thing we could think of at this point in time to do with these tokens is maybe have some good come out of them. And one thing we've thought to do is basically stake them, and any returns that come from them will be circulated back through our token, used to pay out universal Bits income to anybody who wants to claim. So you don't have to have any money. Only thing you need to do is come over to the site, claim your BitcoinNYK tokens, and we will be circulating these Hex coins throughout the BitcoinNYK token. Hopefully something good comes out of this situation. But this is a post I'm looking at on the Steem blockchain from BeerBear613. Great guy. He participates a great deal in the BitcoinNYK project. He curates for the project, and I want to read some of his article here. Just to kind of give you an insight of what some of the people think so far about what we're doing with this, if we're headed in the right direction. And we'll see what happens with that. So he talks about, uh, Mikos has a lot of trust in the BitcoinMYK project, so much so that he will be taking 1,000 liquid HEX and dedicating it to the project. The crypto sphere is complex and full of schemes and terrible projects. Sometimes what we need to do is have some faith and hope that projects will pay off. As a curator of BitcoinMYK, my only objective along with, uh, Mikos is to help struggling authors with a little more give. The BitcoinMYK token is gaining some streak even with a small volume on the Steam Engine platform. We're hopeful that BitcoinMYK will be growing enormously by the end of the month. I know how hard it is to start off as a minnow and we are trying to proliferate this token strictly through manual curation. Manual curation is very time-consuming. Some whales may receive the token, but we are trying our best to focus on lower reputation accounts who have excellent posts. We will continue to drop these tokens, but only now 50 maximum at a time. What makes a token valuable? Well, this question has probably a million answers to it. Sometimes it's nostalgia, sometimes it's speculative growth, sometimes it's utility. At the end of the day, many apply a token's worth for what you can get for it. In this day and age, it is the granddaddy of crypto, Bitcoin. I have no relation or investment in HEX, in HEX, which runs on Ethereum. To be clear, there's a ton of controversy with HEX. One in which I am not here to debate at all. I'm not shilling HEX or trying to pump it. What I do know is that whatever the initial reaction to HEX will be, we want BitcoinNYK to benefit. Mikos has generously given 100,000 HEX tokens for the BitcoinNYK project. He is trying to put his crypto where his mouth is. The plan going forward is this: every 30 days from this point for December 10th, 2019. BitcoinNYK will stake 100,000 HEX coins. BitcoinNYK owns these tokens. BitcoinNYK will stake for 30 days at a time. BitcoinNYK will draw the HEX tokens generated after 30 days and restate. This cycle will continue for a minimum of a year's time. This means there will be approximately 6,000 liquified HEX per month. That will be changed no matter what the price of HEX may be after the initial 30-day stake is over. The HEX generated will be sold and we'll be purchasing STEAM with it. We're not only helping BitcoinNYK but STEAM as well. That STEAM will be used to purchase BitcoinNYK. And he goes on here to, uh, show some how the staking mechanism is working. And you know that we did stake the tokens, um, and, uh, you know, trying to make some good out of this project. If you know, again, the main objective is to reinforce um, you know, Bitcoin. If HEX is only 1 cent, it's only going to be $16 per month. If HEX goes to $1, then it's $1,600 per month. And, uh, we hope to grow BitcoinMYK and make it valuable. That we mentioned, every transaction burns more of the token. So BitcoinMYK is not only being backed with another crypto asset, it is also deflating as time goes by. There will be no more printing of this token. If you have any questions or concerns, feel free to contact us on our Discord. So that's a very nice written post by Bear and Rob. You know, just to kind of add a little bit more clarity to it, you know, the Steem blockchain is quite interesting. The transactions are free. It's very fast. It's one of the fastest blockchains in the world. Very user-friendly. Of all the cryptocurrencies out there, I would say that the Steem blockchain is probably one of the more easier to use. It's probably going to be a lot more identifiable with new people onboarding into cryptocurrency, due in large part to it being so much reminiscent to a social media network, right? To, you know, what they're doing, their blogging and things of that nature, right? It's just a lot more identifiable. And so to kind of get into some of the function of the BitcoinMYK token, what Bear was talking about is A lot of transactions that are counted on the Steem blockchain have to do with transferring value over the blog post. You know, for instance, if you look at this particular blog that he wrote, you'll see down here that it's received some votes, looks like 58 votes, and it's received, which would be equivalent to about 67 cents in US dollars, right? Now, this is paid out in Steem. Now, this is showing the dollar value, but it's the equivalent value of what Steem would be the cryptocurrency. Now, um, this is quite interesting because what they're doing is they're transferring the value of, of, uh, Steem. They're doing these transactions through these blog posts and they're counting as monetary transactions. So this creates an interesting dynamic of, uh, how we can move value probably in the future. You know, we might have this future where your social media is how you get paid and how you transfer value and how you move it, right? and this might become a very broad idea. And so what happens though in this situation because of the social, the amount of social capital, I think is, for lack of a better word, that transfers throughout the system is that, you know, much like if I'm friends with you and I have family members over here or whatever the case may be, uh, there, there is value in relationships sometimes, and those relationships can transform into aggregate value or money. Now, this is kind of unfortunate to a degree, and what's happening in understanding blockchain, because what can happen is people can write, uh, some very valuable content for us to some degree, uh, in which, uh, what happens is, uh, some of them get overlooked. And now it creates a problem in the competitive pricing mechanism and economics. And so it just kind of becomes this thing is if I'm your friend, you get the money. If not, maybe you don't. So to kind of protect against that kind of thing, to create fail-safes, we have created curators throughout the Stelium blockchain that are tasked with going out, finding good quality posts, and actually valuing these posts on merit alone, right? Not on nepotism, not on, um, the desire to be friends with someone or to look out for your friends. This is on the merit itself, and that's what we envision with BitcoinMYK. Now, in addition to that, BitcoinMYK has many functions, but one of the ones I'm more passionate about is the universal basic income function, and that's really what I like to focus on because I believe it's a mass adoption vehicle. If you believe that a large network is valuable, then it should be quite easy to understand that a universal basic income network, uh, through social media would be valuable. And that's what the Bitcoin NYK site is. Uh, all you need to do is come over to the site— we'll leave a link in the description— and, uh, basically register, and you'll start receiving. It's no KYC. We don't really need to know who you are. You do need a Steem account, which you can obtain for free. Um, and once you get that, we send the tokens to you. It's traded on the Steam Engine Exchange, right? And we plan to be on many more, uh, in the future. Um, and so in addition to that, it's a deflationary token. Every time a transaction is done, as Bear was explaining, uh, it's a 1-to-1 ratio. So it's very aggressive. Means if somebody trades the tokens, if somebody transacts the tokens in some way, anything is considered a transaction, uh, generally I can mean change of hands on our— with our project, that token is burned against that. So it continues to burn down, um, until there are 95% of supplies burnt. So what's happening is as we try to put value into this project, they're becoming less and less and less tokens. So it is very highly deflationary, and that is to give value to the UBI recipients and a lot of other people who are involved in the BitcoinMYK project, growing a vast network with very limited tokens. And so this is part of the plan we, we hope to do, uh, with this in, in relation to the Hexcoin project. Um, we're also going to be taking Hexcoin tokens on the site for a variety of things. Um, with the site, it might be anything from, um, um, it could be anything from— we have this simulated miner game you can play with your Hex tokens now. That's quite interesting. You can listen to music, uh, you can basically, um, uh, you know, use, uh, well, one, it won't affect it directly, but you know, with your Hex coin by, uh, participating in a variety of things on the site. If you want to promote yourself on the site, you can do it with Hex coins. And as the network grows, uh, you're, you're able to, uh, you'll be able to use your Hex coins to do a variety of things on the site. Now, we're not affiliated with Richard Hart, We're not— well, we don't know Richard Hart, but we did in the beginning like the idea of this project, and we decided to talk about it and participate. And we were— we did receive some of these HEX coins, and this is what we've chosen to do with them. So, um, we'd love for you all to come over, check this out. It's absolutely free to participate. You don't have to do anything but ask for the tokens, and you get them. That is all you need to do. Now, um, we do have this thing where when you come on the site, based on how long you're on the site, you can receive tokens based on how many hours you're on the site, right? So, but if you just show up to the site, you're going to get tokens either way. So it's no— nothing required for you. That's the idea of UBI, Universal Basic Income, that you do not have to do anything to to get access to these tokens. And that's what we're trying to fulfill here. Excuse me. So, uh, we'd love to hear any questions, comments, or concerns about that. Uh, we're very excited about the project. People are starting to get involved in it, and we're grateful to have our— grateful to have our little community here, uh, trying to create this project, make it into something that we hope can help a lot of people across the globe. And if you stay tuned for the channel, you will see other things we do about universal basic income. You will see me talk about other cryptocurrencies that follow a very similar path. You know, we have a very specific type of cryptocurrency we talk about. Uh, we do— we have gotten away from Bitcoin itself. Uh, we call ourselves BitcoinNYK because we have a different vision for Bitcoin. And the reason we call ourselves that is not to be part of a scam or anything. It's just that we as well, um, you know, if you hold Bitcoin, you can get our tokens in relation free to that. Now, uh, That's all we do. There's no exchanging of any cryptocurrency or money. You don't have to turn over anything. Um, once we know you hold the Bitcoin, we simply, uh, just basically hand over the tokens. You can also, uh, just get the tokens anyway through UBI Free. So there's no catches, there's no security risk. Uh, all you need to do is, uh, even when you're registering on the site, you don't have to provide your actual emails or names or anything like that. We don't need the information in order to to track you or anything. It's just primarily for if you lose your password or something like that, just to register on the site. That information can be sent out to you to do things like that. But that's, that's basically all I want to say— excuse me— in this video. Um, come on over, check us out, see if it's something you're interested in. I'm sure it's something, uh, on the Bitcoin NYK site for everyone. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, take care.