Bitcoin Wave Network - (L) Drake Equation Explained

Hey you, welcome back to the channel. And guys, today is going to be a very interesting video. We're going to talk about and explain how our protocol, the L-Drake equation, works, um, and how we're able to send Bitcoin from your wallet at a high speed without worrying about the double spend issue. And making it so that you can now move your Bitcoin at high speeds to anyone in the network. So the L-Drake equation comes from the actual Drake equation, which was a formula created by a physicist by the name of Drake, who was able to come up with a way to find out how much life there is in the cosmos. Um, and he was able to do this by certain mathematic equations used to determine how many inhabitable, or rather how many, uh, planets were able to have inhabitable life on them, and a series of equations that, uh, is used in the scientific community in order to give itself an idea of how much life there is in the universe. Now, we use a, a similar method to deduce what wallets are valid in the system and protocol when it comes to changing your Bitcoin or not having to move your Bitcoin, but you, uh, moving a representative Bitcoin value in BitcoinMYK across the network. So we're going to explain how it works and how we're able to do that. So first, to, to understand how this works, when people come in to use the Bitcoin Wave network in order to achieve this. There are no VPNs allowed, so that means that, uh, there is a certain, uh, first layer of security. We can verify that it is a unique user and not a bot or something like that. So no VPNs are allowed. If you come in with a VPN, you'll have to turn it off or you won't be able to use the network. Um, once you come into that, we will send your social media key through Facebook. Now, the reason we need to send it through Facebook is Facebook has become quite efficient with eliminating dummy accounts, with eliminating accounts besides your, your personal and business account. And so, um, this allows us to know that it's an actual person using this Facebook account. If Facebook finds out that you have more than one personal account, it will, uh, remove it from the system. Facebook has to have actual unique accounts, and so that's why Facebook is a great method to help us through this procedure. It's also very important that we take these steps. We found that Uh, going through levels of KYC or know your customer rules is very discouraging to users, and it's not very appealing to them. It makes them not want to participate in systems to the degree we will want them. So we're trying to stay out of that KYC realm and use the social media verification methods in order to, um, um, protect people, protect the system against the double spend, and allow people to be able to, um, move their Bitcoin at high speed, sort of representative value. Again, that means your Bitcoin stays in your wallet. You don't have to buy another coin. You don't have to, uh, uh, you know, use something like the Bitcoin Lightning Network that you can only move through certain payment channels, and you can only send to certain people, and, and, and then that you have to put up the Bitcoin first in order to even be able to use it. So you don't have to worry about any of those things. Um, so once you make it through these two verification processes, the next part is also part of the L-Drake equation. And the L stands for ledger accounting balance. So here's how it works. Some of the variables that exist in the Drake equation, we take, we kind of move the variables out that have to do with the cosmos, and we put in place our own variables that have to do with cryptocurrencies and blockchains and transactions. And some of the variables that we enter into this is the average cost per, or the average balance in a Bitcoin wallet, which is, uh, just under $100. Now what that means is that if people are claiming BitcoinMYK and their wallets are over $100, they're immediately flagged and moved here. Into a database that correlates all these addresses into one. They, they usually go on a string, and within this string, if the average is abnormal to the system, it will move these addresses into this database. This database will then move that group of addresses to a higher verification And so we really don't want it to end up there because when it ends up there, uh, what happens is it does start to become more like a KYC type situation where you, where we will use a PayPal verified account. We'll generally send a small deposit to your PayPal account, uh, that has to be verified. And then at that point, we know it's you. Now that is still a step below a standard KYC, or that the levels that it can get to, which are quite severe. However, this shouldn't be a, so much a common issue as again, it's rare that Bitcoin accounts are over $100. In fact, it's about 5 million Bitcoin wallets at this point in time that are $100 or under. So the accounts that are above that, they may get flagged and sent over to the database system provided that they're in a string where they break a ratio of averages in which they will go into this system The system will then cross-reference all these addresses, and within doing that, if the wallet comes back and has, um, a large amount of, um, or correlated addresses going in and out of it, then what happens is that account will be ineligible to use the Bitcoin Wave network. So The risks are very high to the person who violates the system, and the severity of it, uh, we believe will act as a great deterrent. Also, it will be very minimal, um, uh, claims to the system, seeing that comparably the trouble someone would have to go through at this point in time, our token is about 65 cents, uh, which means, and we give out a 4-to-1 ratio for Bitcoin Bitcoin. So, uh, in the early progress of this, people— these, uh, offenders would have to go through a lot of trouble, uh, in order to collect, uh, the Bitcoin NYK tokens. Um, and so, for instance, if, um, you know, the price of one Bitcoin is around $3,500 now, they would roughly receive about a little bit over 4 Bitcoin NYK, which isn't even quite $3 at this point in time. So that means that they would have to go through quite a bit. Now, of course, the value of the token will rise, but we're hoping, you know, more likely, but we're hoping this will act as a deterrent to make them early on not want to try to go through all these steps to break through the system. Now, These steps are quite easy for the average wallet because all they would have to do is pretty much just provide your Facebook, um, um, address and, and, um, make sure they have their VPNs turned off. Um, and so with the wallets with a large amount of cryptocurrency in it, a large amount of Bitcoin, anything over $100 can possibly be flat. Not in every case, it's only if it goes over a certain average, but we think the system is quite adequate or will be in deterring a lot of people and, um, making the security risk quite minimal to how many of these tokens can be obtained and possibly flooded on the network. Uh, in addition to that, again, Uh, these people would have already proved they were, uh, Bitcoin holders, which is the first step to prove that you own a Bitcoin wallet. And so people with, uh, over $100 worth of Bitcoin, they probably won't want to risk it. The great advantages that they will have in order to send, um, now move their Bitcoin without having to buy some other token or, um, some to that effect. Um, even like with the situation we got with Grin coin and Beam coin, you have to buy those tokens, and some people had to pay, or some people paid like over $200 for those tokens, and they lost over 90% of their value. So this is the advantages of you using a Bitcoin Wave network, and we think the advantages in, uh, to the system will outweigh any inconveniences to the system. But the first few steps are easy. If you don't have a Facebook account, uh, or if you don't use Facebook or don't wish to, uh, it might be necessary then that you move right up here to the PayPal verified accounts, uh, to be able to take away, uh, take advantage of the Bitcoin Wave network. Again, these measures are stopping us shy of know your customer rules, which again, we find that people really don't want to go through know your customer procedures. And so in order to secure the network, we do have to take these steps. Now, interesting enough, what else secures the network is good centralization or decentralization and how we achieve decentralization. is we do something similar to EOS and Steemit with witnesses and block producers, but it's, it's a lot more simpler process. And how it works is our, what we call distributors, they basically run a copy or version of the BitcoinMYK site. And each people who run these sites, uh, get 2,000 BTM tokens. Uh, now, uh, half of those tokens they, uh, are required to distribute, uh, to people who use the site. Uh, each one that creates these clone sites, they receive 2,000 BTM tokens. And what happens with this is now we have many versions of Bitcoin MYK, um, out there and decentralized because these networks are able, or these sites are able to distribute these tokens, um, uh, any way they wish. Now here's the thing. Anybody can be a distributor. However, what happens is then the community votes for top distributors, and top distributors, through a democratic process, they vote over the blockchain. Uh, they cast their votes over the blockchain. So we, we, you know, we know it's, um, you know, it's not something that could be cheated. We can't cheat it. That will be broadcast over the blockchain, so anybody can verify it. Um, and then a, uh, a top distributor is chosen. And so if you're a top distributor, you get 10,000 BTM tokens. And with those 10,000 BTM tokens, um, you're able to distribute those out to the people who use your site. Now you get half of that 10,000 Uh, so you get 5,000 tokens and then you have to distribute out the other 5,000. So what this does is this incentivizes, uh, the distribution of, um, of the tokens out and it's spread across now all over the internet to the point it's decentralized and it's democratic. As, um, we will every month, uh, hold the votes to, uh, to elect more distributors to become top distributors to receive the 10,000, um, BTM tokens, right? So it's real, it's real easy, it's real simple. Anybody who can set up a website, a normal website, are able to do this. This decentralizes the network, it makes it democratic, uh, so anybody will be able to do it. And basically, um, uh, send out these tokens, distribute them however they wish. But the catch is the community elects the distributor who they feel have done the best job at this. So obviously, the, the better you distribute, and to them, and the more people you distribute to the better, the more chance you stand of being reelected, right? Uh, and if you don't get reelected, then, uh, you receive no more, no more tokens, um, to, uh, to distribute out. And so, um, that's how that works. That's how it stays democratic. So it's a very simple process, but what yet we believe very effective. To getting this done. It will allow Bitcoin holders to move their Bitcoin value at high speeds without having to buy any other token, just verifying that they are a unique person, that is a unique account and not a second account, and not one they can double spend in. And if they're caught some kind of way getting around the system Uh, they will be removed. They will no longer be able to participate in the Bitcoin Wave network. Um, and so, uh, that's, that's a great deterrent, and that's the reasons you don't want to find yourself doing a double spend or trying to beat the system. Um, it's much easier to just, uh, either become a, uh, a, uh distributor or even just get the tokens through proof of participation models through the UBI program. And so we think this will be quite effective. We think it solves a lot of issues. And if you have any questions or comments about it, feel free to leave them in the comment section or on our, on our website. And we'll be more than happy to answer them for you. But, uh, we think this is an effective security system. We think it solves the problem of Bitcoin and the speed at which Bitcoin moves. We think it solves the problem of decentralization and problems we get with mining pools that control and take over, um, uh, the network. We think it solves the problem with proof of stake. Which deals with many times people who can stake the most coins, uh, being able to control the network, get richer. Um, and so, uh, you know, with this system, anybody can do it, right? It's very simple. Anybody in the proof of participation model can just come in and basically pretty much start from an equal playing field and advance through the system that way. So, uh, we think it's a good system, guys. Again, if you have any, uh, comments, we love to hear from you all to help us to find some holes in the system. But that's all I want to say in this video, guys. If you like content like this, don't forget to like, subscribe, and until next time, take care.