Bitcoin MYK - UI Upgrade Tutorial EP.3

Hey you, welcome back to the channel. And today we want to go into episode 3 of the BitcoinMYK user interface upgrade. And so we thought it would be very important to do these videos because sometimes when you put together these interfaces, these projects, when you're putting them together, they make perfect sense to you because you know the inner workings of them. But when somebody else is using them, sometimes it can just be kind of, where do I start at? And what does this mean? And what does what? So we're gonna give you a walkthrough today on what exactly it is you do on this, on this platform. So a lot of the social media over the blockchain, social media in general, involves you all posting, creating blogs or posts or talking about your days or whatever the case may be. And this is what creates the content for social media. What generally happens is social media is then able to make money and get value from your participation in their platform. And generally what happens, the money they make is split between them and their shareholders, their investors, and the people who actually create the content, people like yourself and me, we generally end up getting nothing for our participation. So what these projects now are all about is giving you some of that value back, and we do it through the distribution of tokens, cryptocurrency that is moved over a blockchain. Just means it's spread out over many computers where it can't easily be shut down or stopped. It's much more secure. And a variety of things like that. So if this is something new to you, uh, you might have to watch the tutorials a few times. Be sure and ask us questions directly on the videos or whatever the case may be if you're interested in this type of stuff. But anyway, today is going to deal more so with our internal social media. Uh, in the first few episodes, we talked a lot about our cryptocurrency, much like an ERC-20 token, being part of the Steem blockchain, and that because we were part of the Steem community a lot of the posts that the Steam community does can be— they can still get compensated for their posts as part of our project. Now what we also have in addition to that is you can just post solely on our website if you so see fit, or you can do both. You can get credit for both. You can do Steam posts and then move your Steam value to over on our site and get BitcoinMYK coins. Coins as well as your Steam tokens, you can then post the same material to our social media here and earn on that as well. We're going to explain to you how that works in this video. So first we're going to take a look at the layout here and we're going to pick on good old Fred here. So Fred joined the site some time back. I always pick on Fred for some reason. And as you can see, as we look down here, Fred's activities, talking about how many forum posts he's done. Uh, so it keeps a record here, shows you he's done 8. Uh, how many likes has he received? So far he's received 3 likes. Um, I'm sorry, he's actually, uh, he's liked 3. So it also shows that as well. And he's, um, received 5 likes now. What we're going to do is for every like you cast, you're going to receive a BitcoinMYK token. And for every like you receive, you receive a BitcoinMYK token. Now let's explain, because this is very important. Uh, this— let's explain how this works on the site because we're going to actually be moving our musical artist, uh, section over to, to work, uh, just internally to our website. And we're going to explain that in later videos when we, uh, go into our music artist section. But, um, how the BitcoinNYK token works is within the ecosystem of our platform, a BitcoinNYK token is now equal to $1. What does that mean? Well, it means as the site grows, you will be able to take a BitcoinNYK token and you can buy a $1 United States dollar. You can buy up to $1 in BitcoinNYK tokens value worth of advertising space. You can, uh, we will have things you can buy for sale on the site, our marketplace. Place you'll be able to use the BitcoinMYK to buy electronics, goods, and services. But it will be— the value of it will be tethered at a dollar. Okay, now what does that mean? That means that if the BitcoinMYK token is being sold on exchange somewhere else, let's say the value of it is not a dollar, then it means you can go on those exchanges, you can purchase your tokens on those exchanges, third-party exchanges that we use, and you can, you can purchase them and you can spend them within our ecosystem and they will still be valued at a dollar within our ecosystem. Whether you want to advertise or whatever offers we have available and things you can do within our ecosystem. And as the project picks up, we will have many, many more features coming aboard. But, uh, so it's tethered to a dollar, so within the ecosystem it has the value of $1. Right now, again, it could outside our ecosystem, it could be valued at higher than a dollar, uh, or lower. If it's valued at higher than a dollar, then more than likely what's going to happen is the Tether parts on our ecosystem will increase to meet that. Uh, so you won't have a third-party exchange where it's valued at, um, maybe say, uh, $2 and we're still at a dollar. It will match that. It's just that it is fixed to $1 and above within the ecosystem of the website. So one token will always represent $1 on this platform, if that makes sense, okay? So the next part is, as we can see everything that's going on here with Fred, only thing he has to do once he makes a post, and let's look at some of the latest posts. Let's look at recent posts. Didn't mean to click that. I hate when I do that. Is a pain in the butt. Okay, here. So I think I got it now. Navigating on mobile with my recording device. So sometimes run into a little problems here, but as you can see here, when a person posts, you can just put up different posts about different things. Some people put up photography, some people put up a variety of things, and they put their articles there. When they receive a like, they're going to receive 1 BitcoinNYK token per like. Everyone who posts gets a, gets a like from the network, at least 1 like, and then the community has to give you more likes. And so Uh, what we've done where we're a little bit different from many other sites that do this type of thing, uh, where we're a little bit different is, um, we don't really get much involved with the curation process of what the value of the post is worth. That's something we've chosen to not get quite involved with. Uh, what we more look at is the attention value of the post. Now, if you're spamming and it's content that's not your content, it is possible that it will be removed or you will not be compensated for the post. So make sure it is your content, you're not just spamming the network. But as far as the curation process of it, we don't much get involved with that. It's all attention-driven and it's more democratic. As the token is paid to the network, you receive when you post, you receive a token. Now, uh, then it's up to the community to decide how many of these tokens you get. So that's the route we've chosen to take. Now, for the— as we are integrated with Steemit and a lot of Steemit community, they will be using, um, you know, this platform as well. Um, they can continue to do their Steam polls and just get compensated in our tokens form. So we have a section, that's what the first few tutorial videos were about, and that's mostly what we deal with. And you have some basic features. We are working on a site you can, you know, you can basically, you know, post pictures and a variety of things like that. We don't care about you advertising, promoting your products as long as they're your products and as long as you label them in a referral section. So it's all pretty simple, cut and dry. Forum social media type posting that many of you are familiar with. Let's, let's stroll down here, and this is probably gonna be kind of important to get compensated and how you get compensated. So let's get down to the bottom of the page here and go to your claim form. So here's how this works. When you basically— that's the video section. Nope, not trying to get there. When you basically get ready to claim, you just enter your account number, your account name, your Steam wallet or Freedom Exchange wallet. And we'll probably be getting into how the exchange process works. It's very simple. How you can exchange to the Freedom Exchange by just inputting your wallet and the tokens you want to withdraw that you've earned. You can basically send them there, or you can send them to the Steam Engine Marketplace, and you simply put in the post URL and your tokens for the post you do will be sent to your respective wallets. Now, if you don't have a Steam wallet, what you need to Uh, uh, have then is a Freedom Exchange wallet. You can get one free. Uh, there's no waiting period. It takes about half an hour for your, uh, wallet to be synced with the blockchain. So if you set up a Freedom Exchange wallet and you don't see your wallet available, your, uh, your BitcoinMYK deposit memo, uh, right away, don't worry about it. In our next video, we'll talk about that a little bit, but it's very simple. And then you just put here what post you put in, your account name, and your tokens will be withdrawn to that wallet. So it's pretty easy stuff, um, how we go about this, how we do it. I think you guys are gonna like it. You can also tip members. You just put in their name, person you want to tip, your tokens. Now, in order to tip, so you have to have staked tokens, and that's the next part I like to explain about it too. Whereas some projects like this have something like, um, what they might call something like a voting power where you can earn tokens, you can purchase tokens, and you can basically stake those tokens, or you can power up those tokens, and then you get more per post. We do a similar thing, and how it works is you basically have what we call a multiplier, and every 100 tokens you stake basically will increase your token per post by 1. So let's say if you got an upvote from the network, because as soon as you do a post, you get an automatic token. Um, you get a like from us, and then the other— the rest of the community decides they want to give you more likes. So let's say you get 1 like. The BitcoinMYK token is paired to $1, so you get $1 network value per post. Um, you get that dollar. Let's say you got 100, um, BitcoinMYK token stake. You're going to get another token, right, on top of that. So you'll get 2 tokens. That'd be like $2 per post, right, if you got 100. If you got 1,000, you're going to get, uh, 10 tokens per post. So you're looking at about what would be equivalent on our site to about $10 per post, right? Now, by it being valued through the network this way, where you can use those dollars to advertise a variety of things, the hope is the, the, the spread between what's happening on third-party exchanges and what's happening within our own ecosystem, those margins will begin to come closer together. So in other words, if we got a token value here of a dollar and it's only 10 cents on a third-party exchange, but with a Bitcoin NYK token, they could take that over here and they could buy ad space. Pretty soon they'll be able to buy books, electronic goods, and a variety of things like that. then people will find out that their token is more valuable in the network and they'll want to sell at a higher price and not sell at a lower price, if you follow what I'm saying. So we believe this is a good way to increase the value. Uh, we will also be covering the deflationary parts of it in the next video. We'll be covering, um, the, uh, how to exchange, how to withdraw, those type features. Uh, we'll be doing music artists somewhere down the line, a little bit more details about that. But this is episode 3. Uh, we love for you all to join, start posting, start earning something for your social media participation. The bottom line is you're, you're already on social media. Now you're watching this video, you participate in some way. You can earn here by just commenting on, uh, people's posts or even liking posts. You get, you get as much on our network just for liking a post than a person who, um, uh, that's doing the content as well. Right. because all the tokens are valued the same unless you got the multiplier. But, uh, you can get more, of course, if the community finds value in your, in your content. But, um, but all the activity you do will earn you tokens and give you value. And that's the idea of proof of participation, to continually give you value. So to sum it up real quick, two parts. If you're part of the Steemit community, you're integrated with us, You really don't have to do anything else but go to our Steemit posting section, enter your Steemit URLs, your Steemit posts, you get compensated for them. Uh, if you want to do more, if you want to earn more, you can actually physically post to our site. Um, you can earn by upvoting, liking other people. We call it likes. It's basically a like. Uh, you get paid for your likes. Um, and I think that's about it for this video. Uh, sometimes you have to watch it a few times. Be sure to leave comments if you're— you got a question, you're trying to understand this better. We also got live chat support. You can come over there and ask questions. Uh, so we're here for you, and we're here to educate you on a way to use this site. We try to make it as easy as possible, and I'm sure if you start navigating with it, using it, you'll, you'll see that it's quite easy and you can earn very easy on it. Uh, and I think it's going to work out in your best interest. But that's all I want to say in this video. If you like content like this, give Don't forget to like, subscribe, and until next time, take care.