Bitcoin MYK - UI Upgrade Tutorial Ep.1

Hey you, welcome back to the channel. And today we're excited to tell you all about our latest user interface upgrade, um, and, uh, just a tutorial on how to navigate the site a little bit and how to use it. So, uh, doing it, doing this one from a, from a mobile device. So if you're on a mobile, it's probably going to appear like this. I think on a desktop it, it just looks, it looks a lot more awesome. But, you know, what's been part of the growing process with us and user interfaces has been that it's kind of been this evolution. Being part of the Steam blockchain, it's been kind of this running joke that, you know, the user interface are kind of bland, right? They don't look that great. And so A lot of people are trying to upgrade their user interfaces and, um, you know, and some are doing better than others, but we thought it was time to, to make a change. And hopefully you all will like this one a lot better than the other. Uh, so, um, the first change is when you get to the home page of the site here, um, BitcoinMYK, our kind of slogan changed. It used to be proof of participation, right? Just simply meaning that you're an active user on the site, you get a stake in the site, you get our cryptocurrency. Um, but we thought it was important to drive home really what the BitcoinMYK project is because it's been a lot of confusion about what exactly it is our project is, is supposed to be doing because, uh, it has, uh, various applications on, and people say, oh, it's this or that. And so what we've done is we've tried to contain this in a way and compose it in a way where people fully understand the magnitude of what we are. So the slogan now is Bitcoin sidechain deflation token. So let's take that apart and let's try to understand what that means. So Bitcoin, of course we all know what Bitcoin is and everybody agrees it's only one Bitcoin, right? And, uh, it's going to remain that way. However, Bitcoin suffers many problems as far as how we want to move our value, not only how we want to move our value, but the cost of moving our value and many other things. And the purists with Bitcoin don't want to change Bitcoin, which is kind of understandable. So it's led to many creating options, whether it be Lightning Network or whether it be some type of sidechain. And this project entails that as well. Now, what is very unique about this project, what we don't see a lot of other projects doing, is whenever there's a Bitcoin sidechain, generally that means it's pegged against some token or another, and you have to swap your Bitcoin for it or trade it to some degree. With this project, that doesn't happen. This is a, this is a very unique take on it. And what it does is we link your account to the blockchain, your Bitcoin, and we verify that that Bitcoin is in that wallet linked to the account with our project, and you receive the BitcoinMYK tokens without paying for them, free. Uh, but it's more than that. It gets a lot better, and I think by the time you get to the end of this video, you're gonna really see the power of this project. Uh, besides getting, getting the Bitcoin for free, uh, the BitcoinMYK tokens free, uh, verified against the Bitcoin you hold, uh, you— the transactions are also free because we're using the Steem blockchain. So imagine that now Bitcoin holders can move their Bitcoin value over the Steem blockchain fast. It can scale transaction-free. Uh, so I mean, you, you know, I mean, that in itself I think says a lot, but we got more on top of that. It is a deflationary token. So we've had many experiments like BOMB token and many others who've come up with the idea of deflation, burning against your trade volume or your transactions or what have you. What we do is we actually burn tokens on a 1-to-1 ratio right now, um, from our volume each month. So we're starting off with— here we have 100 million tokens. That's all we're ever going to have, but it's going to burn down from 100 million all the way down to 5 million. Against our trade volume. And so we're burning these tokens based on how many tokens are traded. So if we, if we trade a million tokens, we're gonna burn a million tokens. And so the tokenomics in this and the game theory in this provides a tremendous amount of value for people who are going to be part of this product. Not to mention, you don't have to buy the token, you can get the token Um, again, if you hold Bitcoin, or you can get it simply by participating on the site, doing simple things like watching videos, uh, participate, be a part of the network. Now I know a lot of people might go, hey, wait a minute, this just sounds too good to be true. How is it able— how are you able to make money? How are you able to get value with this, just giving out these tokens free and so on and so forth? Excuse me. So what you have to understand is in the cryptocurrency world The value is really in the network, right? Your token doesn't have really any meaning or value if nobody's using it. And we believe by doing this, we will be able to attract a large amount of Bitcoin holders and users with over 50 million wallets. If you can imagine the potential theory of us having 50 million accounts, making us presumably one of the biggest cryptocurrencies and deflation at the same time, that that's going to create a lot of opportunity for people. So I think you all can kind of see where I'm coming from. But in a more practical way, of course, the site itself, we're going to be having offers on there for the cryptocurrencies or the projects. And so there is value being created in the network itself as well. But with all that being said, and you kind of getting the gist of this, uh, oh, let me include this part because we, we did start off to trying to recognize and help the cryptocurrency space recognize that universal basic income is a mass adoption vehicle, with an estimated over 80% of the globe needing universal basic income. So the problem was many cryptocurrency projects and universal basic income simply do not have the means to pay for the programs or to gain value to the network. You're just giving away tokens, people just selling the tokens. There's, there's no value. People aren't really using the tokens, they're just getting them to sell them. So how do you, how do you, how do you defeat that? Well, one way is the deflation token, right? That is moving deflation-wise, value-wise, against what's being sold off. The next part is it's easier for us to pay for it with a much larger network of a large amount of Bitcoin holders using it. And the way it works is quite simple. At this point, only about Bitcoin holders who don't claim our token, they lose about 1% of their balance each month. Um, that balance is what goes to help fund our Proof of Participation program for people to earn on the site as well as receive this universal basic income. So in short, it's basically saying the tokens that aren't claimed from Bitcoin holders are what's going to fund the project. Um, to help you understand that if you take somebody like Satoshi who hasn't moved anything from his wallet, we don't know why. We don't— we don't know why people won't be able to access their Bitcoin in their wallets. It could be, um, you know, unfortunate incidents. They could be deceased. They could have lost their password. There could be a number of reasons why they don't claim. And, um, there has been throughout many, uh, whether it be Bitcoin forks or, or, or what have you, that, uh, a very small amount of Bitcoin holders end up claiming many of their Bitcoin fork tokens and a variety of things like that, maybe only a few million in some cases. So the statistics are on the side of the project to suggest that there will be enough tokens to be given out to provide universal basic income for people without— while at the same time keeping the project funded, not hurting the bottom line of the project, keeping it valuable for investors and stakeholders as well. So, uh, it's very important that you understand the, uh, the, uh, the tokenomics of the whole thing and why it works. But now you kind of got a picture of that, and many people who are part of Productor still understand it's pretty much the same project, but, uh, nothing's been taken away from it, but there have been some great components added to it. We need to get into just some of the bare-bone basic, um, uh, parts of a social media site, because it's that as well, uh, in an interface. And that is, we believe one important feature is communication. And so in communication that means you need to be able to chat with members on the site. Now, one big problem I found personally as we're using the Steem blockchain is most Steem projects do not have an instant message service. They don't have a private room service. I find throughout most of the days I'm having to go over to other websites to communicate with the Steem community or other cryptocurrency projects. And, you know, we just thought it'd be a great idea if Uh, with what we project the future of the project to be, to have access to where we can speak with one another directly. So what we have here, as you can see, when you first enter the site is you have an instant messenger, right? Public rooms, public chat rooms, and you have all these variety of things that you can, you can use whilst on site. So very simple, but very much needed and very surprised to not see that many other sites, many other projects don't have this feature, don't have this function. So I think the most, the next important part to let you know about the site and where we're at with the site, first of all, is access to the site. So as you see, this little box keeps moving west. That's a floating menu button. So it kind of goes wherever you go so that you can access the site how you need to. So that wherever you're at, instead of you going to have to scroll back up to the top or whatever you have to do, you can just hit it and it'll take you right where you need to be. Um, and these are just a variety of rooms. Not going to go over all of them, going to try to just address Some of the key ones I think are gonna be important. And one such is gonna be the social network site. And we're gonna explain to you how that works and what makes it unique and what's so great and special about it. Excuse me. And sometimes my recording device Kind of lags me on. Okay, my, my bad. I had to double tap on the menu button. I forgot that. But we're here on the social media site and not a lot has changed. What we're using here, just got a few offers at the top, and this is what we're talking about, ways to help fund the site where you can participate. Projects like Uptrends, projects like the CryptoTab browser, and it gives you value, it gives the network value as well. But as you can see, we're integrated into the Steemit blockchain, the Steemit. And what we have is it uses a proof-of-brain algorithm. And basically this is a way you can upvote posts and you get value in, in the network. So what's different about our integration with proof-of-brain? We still use proof-of-brain, but but you earn STEAM as well as you earn our cryptocurrency. And so the way it works is we go upon the, basically your reputation score on Steemit, and we go based on your followers and you receive not only what the STEAM blockchain pays you, but you receive our cryptocurrency Bitcoin MYK. And to try to help you understand that if you're kind of new to this, most of the STEAM community already understands this, but if you're kind of new to this, imagine Ethereum and, an ERC-20 token, right? So we're using the— in that case, you'd be using the Ethereum blockchain, you'd be using an ERC-20 token, you'd be rewarded in both. And that's how Bitcoin MYK works as a deflationary token. So on the Steam blockchain, it's similar to like their version of ERC-20 token. It's what we call an SCOT token. And what happens is, even though Steam's going to be— you're still going to be earning in Steam, whatever that you, um, your The amount of votes you get goes by the amount of, of the posts you make, but it goes by the number of followers you have and your reputation score. And we can also use something like, something called a multiplier, and you can earn a little bit more, kind of like our version of Steam Power. But I'm probably gonna have to break this down into a series of tutorials because really this video is about just showing you the new user interface and a lot less about, you know, going into the the intricate parts of, of, um, how it works. So we're going to do that in some other videos, but we are trying to keep it very, very simple for new users. That's the entire ideal, is what to onboard new users. And one way we believe we're going to be able to do that is with our Universal Basic Income project. We think that's going to draw a lot of demand. A lot of people are interested in the topic and are going to want to experiment with that. So we believe that's going to create enough demand to drive a lot of new people to the network. Now that kind of takes us to our next issue with the project, and, or at least our solution to some issues that we had earlier. And that is because this integrates into the Steem blockchain, basically what that ends up meaning is that we're going to end up needing to have people hold Steem wallets as well, much like if Ethereum, right? It's on that blockchain. So we had to figure out a way what to do with new people who don't know much about wallets. The process of getting a wallet with Steam is getting easier, but it's still quite a bit complicated, right? So how do we solve that problem? So we're gonna show you how we solve that problem right now and how we can work around that as well. So let's see here, let me get back to my floating menu here and I'm gonna take us to wallets. And let me double-click that because I hadn't been doing that before. Okay, so when you click on wallet, you're gonna get to the Freedom Exchange. And with the Freedom Exchange, even if you don't have a Steam account, you're going to be able to basically trade the BitcoinMYK token. And that is because the Freedom Exchange is integrated into Steam, the Steam blockchain as well. They have segregated accounts. So one big problem for for Steamians, people who use the Steam blockchain, has been when new people come in, we onboard new people. How do we deal with people who don't have wallets or don't know how to get a wallet? And in some cases, it's a few options on the table. They either can pay for a wallet or they have to wait until Steam approves them a wallet, that Steam approves of them having one. And The problem with that is sometimes that could take a week or two or something like that. And although they're making big strides now to combat that, they have programs where people can go through them and get wallets. For a new person who's just trying this out, we found out this to be a good option. Now to kind of understand what the Freedom Exchange is all about, it's kind of like, kind of think of like the Binance exchange where, or I'm sorry, not Binance, but Coinbase. Think about something like Coinbase where you can use your bank account and you can buy, uh, basically, uh, Bitcoin and other cryptocurrencies directly with your bank account. Well, as you can see right here, um, with the Freedom Exchange, you could buy STEEM instantly with fiat money, right, with your bank account. And that's very important to a new person who's entering into cryptocurrency. So what a person could potentially do with our project is they can come into our project and they can Even if they've never had any experience with cryptocurrency, they can very easily get an account set up with Freedom Exchange. They can earn BitcoinMYK tokens on our site without having a Steam Wallet. Now, at some point in time, it will be good if they get a Steam Wallet because they're going to be able to post and do a variety of— great variety of things throughout having that Steam Wallet integrated with BitcoinMYK. But we do think this is a great solution to not hindering our onboarding, uh, as because we're going to be giving away the Bitcoin that aren't claimed in the Bitcoin MYK tokens that aren't claimed against Bitcoin. We're going to be giving those away. And so we're— and alongside that with UBI, we expect that the growth curve we should see should be almost exponential. Um, and so this is a project that many people are going to join, and so we don't want them to be hindered when they try to set up an account. So this offers a great solution to get them in, get them participating, getting them earning until they can get approved for that Steam Wallet, and, and they can still be earning and trading on the Freedom Exchange with BitcoinMYK until that happens. After they get the BitcoinMYK, they can move it to other Steam-based exchanges like the Steam Exchange, which is the primary one that we trade with now. So we think that's a great feature, great solution to the Steam onboarding issue. Okay, so the next part we want to talk about, let's get into actual posting for a minute, uh, because the reason I think that's important— didn't want to make this video too long, but even amongst Steamians, people who use the Steam blockchain, um Uh, you know, this process can be— can need a little education. And, um, so we found that some Steamians still come to the site and then they say, okay, well, what do I do next? What do I do? And, uh, sometimes when you've been in cryptocurrency a while and you've used a variety of these social media sites, uh, you kind of just expect people to know. And I think we're starting to find out that people, you know, we shouldn't expect people to know. Best to just show them, do a tutorial, and let them watch it. So anyway, want to explain our posting. So the way our posting works, let's show the breakdown. So this will make sense to Steemians, but if you're, if you're not a Steemian, um, you know, this might be a little bit foreign to you, but we're going to explain it to you. So, um, there's a, there's a, um, another application on, um, Steem blockchain called Bizzy.org, and they start doing something where they kind of take your followers and you get what they termed like upvotes to based on how many followers you had, how many, uh, and it will help your, your posts and things like that. And so they thought that was a good idea. I thought it was an interesting idea. Now we have something similar to that, but it's a little bit different. You don't get upvotes, but you do get our tokens, our cryptocurrency. And what we go on is reputation score. So, so the first thing you want to do is when you come, when you come on the site is you want to enter your Steemit name, enter your reputation score and the amount of followers you have, and place the Steem post that you want to put up on the site. And then you also place the amount, if you have any stake tokens, that's just, it's just saying that for every 100 of our BitcoinNYK tokens you have, uh, you get an extra token on a post. But if you can see right here, if you got just say 1 to 100 followers, for every post you do with our site, you're gonna get 1 token. And if you get— and as well for your reputation score, if you got let's say 25 to 34 people, which everybody's gonna have, you earn 2 tokens. So basically you're gonna pretty much earn 2 tokens, uh, per post, no matter, you know, what the situation is. Unless you got no followers at all, uh, then you'll earn only 1 of our tokens per post. But it, it works on that because what we've found— and this is just our way of doing things, we want to be unique here because there's many applications across the Steem blockchain who have their different ways of doing things, what works for them— but for the most part, what we found is that it's very difficult, in our opinion, to curate posts. Uh, it's hard to value these posts, and so we kind of got out of that auto win and just said, well, let's just make it all about participation. So if you have, let's say, um, um, a reputation score of 25 or higher, uh, we look at reputation score. Really what reputation score is, is a mix of STEAM power, the amount of STEAM you hold, and the activity of your posts and your participation throughout the STEAM blockchain. For us, that pretty much lets us gauge the type of participant you are and the value of your contribution to this, to the blockchain. Next, we go by who's following you. Do people care enough to read your posts, read your articles? And we take these things and we combine them together. It's a very democratic-like process in that way, and you still earn whatever you earn on the Steem blockchain as many people understand that who use Steemit. But in addition to that, you see you get our cryptocurrencies on top of that, right? And there are two ways you receive these tokens. So, so it's a very simple process. You just enter that and then it's automated. After that, your post will continue to rotate on our site and you continue to earn on our site based on your participation with Steemit. And so we try to make it very simple and very easy, but we think many of you all will like this. And so you just You can, you can post existing posts you have here, uh, that already existed on Steam blockchain. You can post it here and you can still earn with us. Um, because basically you're just dropping the link right to that, your Steemit post. So that's, that's why you're able to earn like that. Uh, let's talk about now the exchange itself, what you do with these tokens. But before I get to that part, let's just show you a few more other features because again, like, people come here and they're not sure what to do. So we're gonna try to just go over some of the important things. Okay guys, so we're probably gonna have to break this tutorial down into sections because we have a lot of features on this site, a lot of things you can do. And so, you know, instead of having these videos go long, we're gonna break it down to a series. And so I think I'm gonna stop after this and probably do a continual video, a continuation of it tomorrow. But now we're on the game, we're in the game section. You can, you can stop games. We have a game engine here, and what it does is you play these games, different fantasy games, role-playing games, and it basically calculates the time that you play the games, and you can earn so many tokens based on how long you play them. And there's a variety of games. You should be able to see the pictures and the But for some reason my recording device is kind of breaking some of the images, but they're flash games with chat and different things. They're different types of games. And so you can play these, you can play these games and earn on the site too while you're at it. Cause like I said, we got a lot of features. Uh, I think in the next segment we're going to, we're going to cover the smartphone mining you can do with it, the music section, um, and some other things like that. But I think I'm going to stop the video now because, uh, and do it into sections, uh, because I don't want this to go 2-3 hours long. So we're going to break it into sections. But for the most part, want to show you the, uh, the, the new user interface, what we're doing. If you have any questions, don't hesitate to ask them in the comment section of the video. We have live support and chat on the site. You can ask them there. So we're more than happy to help you understand how to use the site. And, uh, we sat down with a think tank and we've thought about the biggest problems in cryptocurrency and the easiest way to solve them. And we think, guys, that we may have just done that. So stay tuned with us, keep watching the videos, be sure and join us. Uh, this is offering you a lot of value, probably the most value you're ever going to get in cryptocurrency. But that's all I want to say right now in these videos. If you like content like this, don't forget to like, subscribe, and until next time, take care.