Bitcoin - No Incentive To Use/ Referral Programs

Welcome back to the channel. I hope you're having a great day. So today we're going to talk a little bit about cryptocurrency, no incentive to join, and referral programs. So I know some people look at this title and they will say, well, wait a minute, of course there are many reasons and many incentives to join cryptocurrency, to use cryptocurrency, right? Um, and, uh, um, uh, in some cases they may be correct, but we have to really dive a little bit deeper into this question because, um, there is a reason right now why there are probably only about 100 million cryptocurrency users. And I'm not even certain if that is an accurate number. It's probably more likely far less. And the reason that these are important issues, because when you're speaking about something as important as an economic system like what cryptocurrencies can bring, there should be far more people, I think, interested in this and pushing this. And so What are some of the reasons why the cryptocurrency space, something as important as it is and as useful as many of the cryptocurrency advocates say, why isn't it then that everybody's seeing the truth behind why it should be used or being able to see a broad picture of the importance of it. And so we're gonna try to find out some of those answers today and talk about a little bit just in general about network building and brand effect. So we're here on the BitcoinMYK site and the BitcoinMYK site does have some interesting things that are connected to network building and that is referral programs, right? A lot of people don't quite understand the high importance of referral programs. Oftentimes people just, uh, seem to, uh, lock them together with, um, uh, just an optional marketing approach. But the reality of the situation for referral programs is the most successful, uh, companies in the world, uh, networks have used referral programs in order to be able to get to their standing and to their, into their scale. I believe today it was just announced that Amazon has become the leading, uh, commerce site, uh, and commerce business, I think, period, uh, within the world. Um, And, uh, um, of course, uh, Amazon has one of its biggest models, marketing models, has been referral programs, right? Uh, referral programs on all of the products and commerce is right now. If there's any item, any store selling in an Amazon store someplace, there is an affiliate program that is attached to that. And these referral programs have helped the likes of Amazon, the likes of, um, Walmart, the likes of, uh, um, um, uh, what is Apple, go to trillions of dollars worth of value, right? But we look around the cryptocurrency and who are the only cryptocurrency projects that have referral programs? Generally, the ones more closely related to pyramid schemes, Ponzi schemes, uh, when they do have them, they are generally classed that way. Uh, they are generally looked at as MLM scams because most referral programs in crypto are that. Um, and so they get a pretty much a bad rap, and a lot of bigger projects don't use them. And, uh, of course, the user base stays under 100 million. It's probably more like 20 to 50 million, but, uh, right then they can never have that in their arsenal like many of the bigger, larger, more successful networks have had. Um, so what, let's jump back a little bit even before we get to the referral programs and let's discuss, um, why networks, um, you know, why they, why they don't grow at all, why they have problems growing at all. Um, specifically the cryptocurrency. I believe it was, um, I believe it was Grant Cardone. And if you don't know who he is, he's one of these kind of, um, Um, yes, Grant Cardone. He's one of these, uh, kind of, uh, real estate guru marketing guys. He's probably close to earning a billion dollars or something like that. And, uh, he had got a chance to speak about cryptocurrencies. And, uh, whereas I'm not into the real estate guru marketing guys that, you know, come on, um, on these, uh, across these social media sites. I'm, I'm not even a fan of these cryptocurrency influencers that talk about coins mooning and if my coin's gonna moon. So I don't watch those channels, uh, but it just so happened I did catch part of what Grant Cardone had to say. And interesting enough, he did say something to me that made a lot of sense. He said that, you know what you should do with cryptocurrency? You should, you should give it to everybody for free, right? Build up this, this market and, and then let the cryptocurrency balance itself out and grow from there. Make sure everybody gets it. Now we're aware of that. We sort of seemingly do that with airdrops, but generally these airdrops are just, um, marketing, uh, venues to try to get people to buy the cryptocurrency, right? Um, my impression of what Grant Cardone was speaking about is something more elemental to what you get with your Netflix subscription services and, uh, your coupon services, your rebate services. Many of the methods that are used by large networks to grab a customer base. They know once you're in, you get hooked. You're accustomed to using the network. You're accustomed to using the product. And, uh, right now you're a lifetime customer. And cryptocurrency, it's a very backwards approach to network building. And for some reason, we don't seem to connect the dots and understand the importance of this. Like, we really feel like cryptocurrency is something totally different, which it is not. There are just some things that are universal to pretty much every system human beings create, and this, I believe, is one of them. So we neglect that. We expect people to come in by the billions and take their hard-earned money out of their pockets, invest in these high-risk, including Bitcoin. Bitcoin just lost uh, uh, over half its value over the last few months. Uh, it really doesn't matter how high the value of Bitcoin goes in if, uh, a person gets in at $60,000, $50,000, and is now $30,000 moonlighting in the $20,000 range. And that's generally what happens to a lot of, um, crypto, uh, investors and users. Is that they buy in at the wrong time. Because to this date, we just aren't able to really gauge the value of these cryptocurrencies, no matter what they are. Um, and, and, and that's because we can't, we can't find the value because we really can't find the use of them. There isn't a significant use for them. Um, and because of this, uh, What actually ends up happening is we end up asking people to take their hard-earned money, invest in untested cryptocurrencies for the most part, or what's going to be high risk to them, and they lose. And some of them quit, never to return again. This is a bad way to, uh, gain lifetime users, right? Network users. Um, so where are we at with this? We're looking at the Bitcoin NYK project, and of course many of you who watch the channel already know what it is. You know, it's a, uh, it's a type of Bitcoin fork. Uh, it is the closest relation to it is, uh, what you might have got with Facebook Libra coin, but imagine if Bitcoin was instead of Facebook. Um, and then kind of imagine, um A version of Bitcoin, more deflationary than Bitcoin. The supply is going to be 4 times less, but also one that if you own Bitcoin, you don't have to buy it through the algorithm, the proof of participation model, which means you basically give your value over to the network. You join the network and the things you do on the platforms, they equal the cryptocurrency, right? If you like more of the technical details, be sure and join our YouTube channel here, uh, there is a library full of educational material about all of the technical, uh, aspects of the project. But this video isn't to explain them. This video is to talk to the basics of referral programs, the basics of network building, and what cryptocurrency doesn't have and probably what it should have. So you're not incentivized to really participate in the cryptocurrency network. We've given a few examples, or there are a few examples, where you— there are financially distressed economies that are generally going to be in developing nations or third world countries, right? If you go to the West, which is going to be dominating much of the global economic space, um, these systems, their banking systems, many of these things are very much intact. This is not going to be any sense of urgency to people in the West, probably for a very long time. The West has done a great job of kicking the can down the road, uh, and with this economy. And although people are saying that, oh, it's going to implode, yes, it probably will. Most, uh, most of them do after several hundred years, but you could still be talking 50, 100 years into the future, and you could still be talking a period of time that's not going to be very helpful to you at this stage, right? So there has to be other important issues we can explore as well with cryptocurrencies. And, uh, um, you know, so far I haven't seen any that have really impressed me until projects like Bitcoin MYK that, uh, are dealing with issues like universal basic income and ways to scale networks by merging blockchains together. And again, we're not gonna get into the technical parts of it, but we're just telling you what it does. That's something you can look up on your own time here. But as you can see, I'm in the profile area of the network and you kind of see what's happening here. That I've earned 109, uh, BitcoinMYK tokens on the site. And that's because this site is a growing cryptocurrency based on what you do on the actual network, right? And everybody is equal and the same on this network. You cannot buy the cryptocurrency on the network. You can only mint them and earn them. There could be no wealth influence. You cannot buy your way in. You cannot buy your way through governance. That's what we've already knocking out, about 90% of the cryptocurrency models that work to some measure like that. And the ones that work on the proof of work side, these are basically miner monopolized pools, right? And so you're still under this miner oligarchy that is controlling the network, right? So you haven't really escaped that. This is the first system, the proof of participation model, that I've seen that actually escapes that. And a lot of times the criticism is us being in this hybrid where we're part of, of, uh, half cryptocurrency. The actual money occurs on blockchains, but the platform is not part of a blockchain. It's part of a peer-to-peer system. Right, and that's another thing that a lot of the blockchain developers who, uh, want to criticize the system, they spend— they will come in, ask us questions, they'll spend the rest of their time, uh, trying to criticize us, our system layout, right, for being this hybrid. But the, the reality of the situation is peer-to-peer can work just as good as blockchain. In fact, uh, in some ways it's a lot better than blockchain technology. So This is kind of a hybrid of peer-to-peer and, um, basically blockchain technology, right? And that is because you can basically create copies with the same type software and link your, uh, your accounts to this platform and your, your platforms to ours, and you receive, uh, the cryptocurrency for doing it, right? But let's talk about What's happening in this interface, there is an actual referral program. Now, as you can see, I haven't got any referrals and that's because I'm a terrible, uh, uh, referrer marketer. Oh, excuse me guys. Sorry, I forgot to turn off my notifications. But no, that's, uh, not what it is at all. I think I'm a pretty good marketeer, but the Uh, but you know, I don't use my referral link. Um, you know, and that's because there's no reason for me to be earning it. You know, that's just more that can go to you guys, you know what I mean? And I'm always going to be promoting BitcoinMYK. But, um, this is going to appear different to many of you all in this section because you are going to be able to get your referral links and basically refer visitors and signups. And, uh, and that's gonna give you incentive and give you money to tell your friends and family members. And they're going to have use of social media, a social media interface similar to what you get on Facebook. But the difference is it's not going to be Mark Zuckerberg and his board of directors with all the wealth in the entire world. Uh, it's going to be you all. And, um, the, the unfortunate part is when I look at people like Mark Zuckerberg I actually like him because he's been an advocate for universal basic income, but I just can't believe that it's right under his nose that social media and the blockchain is one of the best uses to, uh, to distribute universal basic income, which is going to lead to mass adoption and it's going to lead to the best distribution models out there. Now, why do you want really good distribution? I know a lot of people under just the crony capitalist model. They still want this ruling class of people who own most of the cryptocurrency or that they believe have the right to go out and rape the world of its resources. But I just want to remind you all that in the entire history of our economics globally, there has never existed a bad, poorly distributed system that created a healthy economic model. It has never happened. It is never going to happen, right? So I, I think they're definitely on a— been on the wrong horse with that. With the Bitcoin MYK project, it is the first cryptocurrency project I think that does the best job of addressing many of these measures. Now, why isn't it popular? Well, I believe the reason being is gatekeepers. Right? If a freemium service model like BitcoinMYK is introduced, it threatens these hierarchy of cryptocurrency lords, and, uh, that makes it difficult for them to keep their money because everybody's gonna go into systems like this. So best to try to either discredit us, not talk about us, uh, try to focus on the hybrid part of the project and say, oh, they're not a real blockchain, and things like that. But do you really know the only reason why Bitcoin and Ethereum were declared, um, uh, decentralized networks? It had nothing to do with the technology. It had nothing to do with the nodes operating and things like that. It had to do with the massive distribution of wallets, right, of the network itself. And I take that back. Yes, node operators did have something to do with that because that's expensive. Standing on the network. But all these other things were very, very important at first. And what that basically ends up suggesting is that ultimately it's going to be the most wallets— Bitcoin right now has the most wallets— it's going to be the most wallets, it's going to be the widest distribution that decentralizes the network the most effective way. Think about that for a moment. Nothing else matters. The technology doesn't matter because you might say, well, yeah, the technology does matter, but hey, hold on one second. Look at the mining pools. How many mining pools control Bitcoin? They might say, well, blah, blah, blah, blah, but it's a lot of people on those mining pools. Okay. How many, uh, uh, mining production companies, right? Uh, mining rig manufacturers, manufacturers of these large data centers. How many are the major suppliers? And you break that down, there's only a very few of those, right, that are controlling, that are doing probably 90% of the, the business. That is not decentralization, and it certainly isn't why the United States government declared it centralized. We could, in theory, have, uh, one large mining data center that is controlled by one entity, right? And, and in many ways, that's what we have. We have the Bitcoin network, 87% is owned by 1% of network. That is not decentralization, guys. You're going to get decentralization through projects like referral programs that are going to give everybody opportunity to earn your cryptocurrency, but done in a way where it's not this pyramid MLM marketing scheme, but it does have a valid significant use and an algo like the proof of participation model that awards you merit based on on what you do on the platform, on that no whales can buy it and control it, right? These are what needs to be talked about. Now, unfortunately, in cryptocurrency as well, many of you who view this material, who might feel you're helpless or can't help, collectively you can. And to stop the gatekeepers, you should be sharing these videos. You should be sharing this content all across your social media and letting people know that there are alternatives out there, right? And in doing so, drop your referral links, right? You're being incentivized to do it. You're gonna earn ownership in this network, right? You're gonna, you're gonna earn it. Um, but many of these other projects and many of these other coins that you're giving them all your money to first, they're not giving you anything in return. They're not giving you anything to promote them. They're not— the, the, uh, the largest coin holders are in their own bubbles and they're already wealthy and they don't care about the rest of us. So these are things we, we need to consider before we go around promoting many of these projects that, uh, aren't doing anything for us. And not only that, they aren't doing anything to grow the space or make it better, right? So that's something to think about, that there is no incentive to use cryptocurrency, right? And again, I know The only incentive we're going to find most of the time is people who are going to be talking about, oh, I live in some third world country or developing nation and they have hyperinflated my dollar. But the reality of that situation, most of those countries do what? They're just going to use reserve currencies. They're going to use the dollar. They're going to use the so-and-so. And then you might say, oh, well, the dollar is fake, this and that. The inflation rate of the US dollar, as bad as it sounds, it has been able to keep up and remain stable, uh, up until now at least, right? So it's not collapsed. Um, and most of these countries that we're using as examples, the Venezuelas, the various— they're going to use other currencies. And are these currencies better than, um, uh, cryptocurrency? They certainly are. Uh, unfortunately, the dollar still a million times better than Bitcoin, right? Bitcoin is too volatile and it's— you just don't know what Bitcoin is going to do from one moment to the next. And that's just the truth of the situation, right? So, um, you know, that's still not a significant use case as of yet for us. Um, what is? I think universal basic income is. Everybody Uh, or most of the world, I'd say at least by polls, or half of the world, uh, feels that universal basic income would be appropriate and that they could use, uh, that safety net. And that, uh, although many families go out, they work every day and they have families to support, they could use a little extra, uh, supplemental income to get over the hump. That is the story with most of the globe, right? That's why I say UBI is a great use case in that way. But that's all I want to say in this video. I'd love to hear your comments, thoughts about this thing, concerns. Be sure to leave a comment. Be sure to like and subscribe. And don't forget to join the BitcoinMYK Network so you can start to earn to be part of what we believe is gonna be a make sense, common sense cryptocurrency network that is going to continue to grow more as we move further into these uncertain economic futures. But that's all I want to say until next time. As always, take care of yourselves and each other.