Craig Wright Is Satoshi/Hex Is BTC Part 2

Welcome back to the channel. I hope you're having a nice day. So we want to continue on our video series, uh, Craig Wright is Satoshi and Hex coin, uh, is possibly the new Bitcoin. And, um, if you haven't watched the first part of the video, probably want to go look through the video channel, go back to the first video. That way this video makes makes sense. So we're talking about Craig Wright, um, and we're talking about how the story is coming together that he really is Satoshi. And he's doing, um, a series now called The Theory of Bitcoin that I found very interesting, very informative. It's starting to show the full grasp of what Craig Wright has in cryptocurrency. And here's the interesting part, here's the, uh, the part that, uh, may surprise a lot of people, and it certainly surprised me. And that is many of the things that Craig Wright is saying when it comes to the subject of cryptocurrency, uh, when you sit back and look at it from a non-biased view, because you have to first really take it apart and see the motivations of what's happening in cryptocurrency. Uh, unfortunately, cryptocurrency is also not the best space when it comes to information, uh, as to what's accurate information and what's, um, information that, um, is helpful in every sense. And what I mean by that is that when a lot of the the way that content gets, uh, sent out through cryptocurrency. Uh, people who hold certain cryptocurrency seems to be more beholden to those cryptocurrencies. It's almost like, uh, when you think of your presidential elections and campaigns and things like that, if you're a candidate who, uh, is basically, uh, being, um, having campaign contributions sent to you from certain groups. And once that happens, you now become beholden to those groups. Similar thing happens in cryptocurrency. We can get invested in a coin, get a lot of our energies invested in that, and it becomes hard to really sit back and see a clear picture of what cryptocurrency is. We want just our assets to appreciate. We just want the price to go up. Some cases don't really care why they're going up, just as long as they're going up. And obviously the issue with that is going to be if we don't fully understand why they're going up, and, um, if the reasoning that is going up is— doesn't make a lot of sense, then it's going to probably follow that it's not going to continue to do that and that people aren't going to use them. And so that's why it's important that, uh, if we really want to be successful, I think the space— and we really want this space to go forward We got to be realistic about what we're doing in this space, why certain things are happening. And I think what Craig Wright is doing with Theory of Bitcoin is he's going into deep detail, an explanation of what Bitcoin is, kind of showing off some of his skills when it comes to that area of cryptocurrency, uh, into several areas, whether it be laws, regulations, uh, just the business model overall in cryptocurrency. How many of us are were led to believe early on initially that cryptocurrency was this, this thing about freedom and this thing about control and almost this anti-government mantra, if you will. Now, of course, the issue with that is that how Bitcoin has played out and the story Craig Wright tells that seems to be pretty much in line with that story is that Bitcoin is not, uh, this, uh, freedom of, uh, breaking from the government as it were, but just a type of, uh, cash payment system, um, that, uh, seemingly works better when large groups, large data centers, large businesses, possibly corporations and institutions, uh, control the mining and distribution of Bitcoin. And we're seeing, we've seen the development of Bitcoin lead us into an area where it became under less and less control of the cryptocurrency community and under control of institutions, fund manager groups, um, uh, large data centers, because the average person at home doesn't have the facility or the equipment to accommodate something like Bitcoin, right? So in other words, you're not sitting home mining Bitcoin. You're not really what's responsible for keeping this network up and running. That is pushed and pulled to a minoritized group, and of course that creates many issues on its own. So if you understand that part so far, I think you're going to kind of understand where the rest of the video is going. I'm going to cut off the video right quick to move you to the other topic we're talking about, as well as Craig Wright being Satoshi, and that is, um the HEX coin and why it's the new Bitcoin, right? Or why it feels more like the new Bitcoin. I also want to quickly say HEX is doing a $50,000 cash dollar giveaway, $50,000 worth of HEX giveaway. And real quick, how this, uh, works, uh, the Monarch, uh, mobile wallet, which I tried, um, which I think is, uh, pretty darn, uh, neat It's pretty user-friendly and looks good. They've decided to, I guess, in a type of marketing campaign, um, give out $50,000 of HEX. Now, uh, it's very simple. You don't have to do anything, just download the mobile wallet. Uh, once you do that, you hit claim HEX, and there's going to be a cutoff point. And the, the, the cool thing about this is It's not one of those sweepstakes or giveaways where you got to, uh, you know, fulfill a certain thing or be number such and such. If you get in there and if you hit claim while, and if you do it in time, you're gonna be eligible to get some of that $50,000 worth of HEX. So it's gonna be sent out to everyone, as I understand it from the instructions, equally. So if you're a HEX coin person, if you already got some HEX, interested in HEX, don't want to buy any HEX, want to try to get into this and, uh, um, get some free HEX. That way, if it does become this new Bitcoin, uh, as it were, then you're, you're covered in that area, right? So you can do that with, um, if you, um, get in, um, early enough, right? Um, and it just started, so, um, already been 400,000 downloads, but, uh, right, they have to come back and claim. As Monarch Wallet's been going a while, so if they don't know about this or if they're not using Monarch Wallet, the less people claim, it's probably gonna be more and more money. And so make sure you take care of that and get over there and do that. Um, moving from what we were saying about Craig, right, his explanation of what Bitcoin is probably going to end up being and probably what has become outside the narrative of it being an e-cash payment system. I guess Hexcoin Ventures more into the area of, uh, basically how they have perceived Bitcoin to be, how they've taken Bitcoin from the original Satoshi's vision, made it this speculative, highly risky speculative device, right? Um, The means in which they've done that is created the scenario of if that's what people are after, uh, who's going to be able to do that better, right? And, um, I think the answer would be who's going to be able to do it better is going to probably end up being a system that's designed from the jump to do just that. Not something like Bitcoin where there's a, a founders and creators who created a a certain way, to work a certain way, way back, uh, over a decade ago, 2009. But something that just comes in and can look over— do you look back in the past, see everything that was probably done right with Bitcoin or wrong, come in and say, well, this is what we want Bitcoin to be. We create this product like Hexcoin, which is going to be basically this high-interest yield CD over the blockchain, time locking, time deposits, uh, and it's going to work more in the speculative nature of what you get with something like Bitcoin, which is what they're trying to use it for now instead of trying to use it for an actual use, uh, case. So looking at something like Hexcoin, um, is basically designed and set up to, uh, to basically meet those that need, I guess you could say, in cryptocurrency of people who, uh, just want to speculate on Bitcoin, right? Uh, if you want to just do something like that, if the idea is to just keep improving the value of this asset, then there are several things that can take place. And I think the Hexcoin project figured that out. Now, not without controversy, uh, Hexcoin has been also associated with being a scam. It's been associated with, uh, the founder being, um, a person who is, uh, questionable in the cryptocurrency community at this point in time. Um, and, uh, the relationship with Bitcoin and scams in general hasn't been good. Now, my, my viewpoint on that is Bitcoin is— when you set something up to, to be this kind of money creation device that doesn't have that use case, that people don't see themselves using over MasterCard and Visa, that people don't see themselves, uh, using in the means of commerce, um, then this is going to become a haven. Those type things become a haven for scams, right? Because now everybody and their grandmother is trying to figure out a way to get people to put money in that, and the concept and idea of it's just going up. You know, and that's what's driving it, kind of like tulip mania back in the 1600s. You know, this isn't, um, something more akin to what you might get with a, uh, what would be something like a PayPal system or a Western Union system or something to that effect, right? Those systems actually move billions upon billions of dollars within the framework of the use case of people trying to actually send money back and forth from different— across borders. But the reality of Bitcoin, as we've covered and as Craig Wright has touched on, is that, uh, in the Bitcoin Core way that it exists today, it is not doing that, right? That is not what is happening. And I think that we're in a type of delusion to think, uh, it's anything but that. Um, the problem with assigning digital gold to it without enough history to be categorized that way is that it just becomes much easier for other projects to create models like Bitcoin, models even better than Bitcoin. I think Hexcoin, when it comes to fundamentally just the model itself, I think Hexcoin is one of those cryptocurrencies that that, um, are basically at the very fundamental level. Now you have to separate the fundamental level from the branding effect level and the network effect. What does that mean? Well, it's— it basically means something like we can go on a narrative that a lot of people don't like what's happening with Facebook, don't like what's happening with Twitter, and we can envision a day where Facebook and Twitter will be not the dominant, uh, social media platforms. But the fact remains, due to its large-scale brand effect and network effect, to even reduce, uh, platforms like that will take an extensive amount of time, and it may be decades before something like that even occurs. And I believe Bitcoin is in a similar situation. The way Craig Wright's explaining Bitcoin is I kind of foresee this thing where Bitcoin will begin to diminish over time People got a bit happy over the recent spike, but you have to understand there are fund managers, there are groups that kind of take Bitcoin through these boom and burst cycles, right? Right. So they have it where, okay, it pumps up several thousand dollars and it goes right back down to where it was. And there's a lot of this, I believe, is the problems in being able to basically fixed on the price, a lot of that is due to the, uh, nature of Bitcoin and people simply not really knowing what the value of Bitcoin is. The market itself is having a determination issue, a severe one, on what's the value of Bitcoin. And because of that, you see Bitcoin do these very erratic things and do a lot of things you don't want it to do, which is something that would be catastrophic in a traditional market. In the traditional market, jumping around 20-30%, uh, is just not gonna cut it, and it's not gonna be a place that people are gonna be very confident about. Uh, the future of Bitcoin as well is quite questionable. But anyway, looking at HEX, and it's almost like the HEX project in that way. And I want to be clear about something, I want you to understand something, is that when I'm talking about HEX here I'm not talking about Richard Heart or what he may or may not be doing, whether he's recycling Ethereum or Worm. Not talking about any of that. Not talking about if HEX, you know, has its own blockchain or something like that. We know Tether and many other stablecoins don't have their own blockchains, but they work through other chains, right? And they're worth billions of dollars. So, so we're, we're, we're, we're not talking about that. We're putting all those questionable ideas aside and we're looking primarily at if your goal was to jump in a cryptocurrency and the value of that cryptocurrency just go up and up and up and up for no reason other than you wanted to, then you could just as easily design a system that kind of rewards people and plays to that. And you could kind of do it in a who came first, right? Who got in first? The people who got in early gained a little bit more value. Now I do believe in the tokenomics of HEX, it was kind of mixed up to where a lot of times when people got in too early, they didn't necessarily win, they lost. So they kind of changed the game a little bit on that, just getting in early on crypto, which is what a lot of people in crypto like and wanted. Just jump in easy and early, early. But, uh, right, that's not really how normal markets work, right? Traditional markets work on the value of the product goes up based on what it, uh, produces, right? What it contributes. Doesn't go up on just if you were at the party first. And, uh, I think HEX understood that. It threw some mechanics in there where that wasn't necessarily the case. So it's a lot of gamification in HEX, but there's also the idea of that, uh, um, HEX is designed in a way to facilitate just that need, just that gambling rush to have your cryptocurrency go up. Now, I've spoken at length about the dangers of that, but one thing I don't deny is I do not deny the, uh, fact that these things work on paper, right? And they have worked. Will they work forever? I don't know. HEX has something called the big payday. Will it work beyond the big payday? Uh, not sure, right? Uh, I'm a person who believes in building his house on solid foundation, not any type of shaking ground. But when you put these— what Craig Wright describes Bitcoin as, or what it's trying to become, and what HEX is— you start to see they're both very relative to one another. And HEX is better designed to facilitate that. Again, the reasoning being Bitcoin wasn't designed from its setup and its makeup to do the things people wanted to do. It was, it was, it was augmented, it was altered to do that. The description of Bitcoin Craig Wright gives, uh, the description of Bitcoin Roger Ver gives, hate it or love it, is more in line with what the actual Bitcoin was. And you know, anybody who believes otherwise, they're just not being honest with themselves. Another thing you have to understand, the motivations of people. If you hold a lot of Bitcoin, if you got in early in any cryptocurrency, unless you got a very honest show host like me, you're not going to speak negative to your audience about cryptocurrencies you're heavily invested in, right? Uh, it's probably not going to happen, right? And it's probably not going to happen very often. Uh, but with us, uh, we're lovers of models that work, and, uh, we're for any model that works. And, uh, right, even if, uh, you know, it means even products we're engaged in, they turn out to be better than our project, we're fine with that too, because we're that much lovers of models that work, right? So I'm saying all that, keeping all that in mind, I want to just conclude with BitcoinMYK. Try to tie everything together, cover some things and some ideas that I think is, uh, important. So we'll talk a little bit about our project BitcoinMYK. So we've spoken a lot about the issues with cryptocurrency, what Bitcoin was meant to be, what it is, Uh, is that gonna spell a good future out for Bitcoin and cryptocurrency? And so we've identified many of the problems. Craig Wright's identified the start of the problems, right? The genesis of the problem. Um, projects like Hexcoin has taken up the mantle of, um, uh, ideas like Bitcoin. Uh, and I think this is, if you're gonna use them all like that, I think it's at the very least constructed a better model. Not saying that it will work out better than Bitcoin, because again, you have to get through all of the, the, the, the early Bitcoin network effect, brand effect. And it could just be easier for a lot of people to just kind of stay in Bitcoin to a certain degree. The problem is I don't think that spells growth for Bitcoin. Or, or, or a future like many of the Bitcoin maximalists are projecting. But I do think that it is likely for a good time Bitcoin can hold its value and base as it is now, just not significantly go up in value, which I would think would be the goal for something as revolutionary as blockchain technology. But let's, let's, let's try to get some perspective of this, just show you a few things. About what would happen if, if a project understood all these things. If they understood that first of all Bitcoin was a cash payment system, it was electronic digital money, and that trying to make it be anything other than that kind of, um, kind of in a sense may, um, it go haywire, right? Because it wasn't meant to really do those things. So let's say you understand that, but then let's say you as well understand the value of, um, uh, of a store value, right? You understand, uh, what that need to have people come in, speculate on assets, you understand that as well. And so you've kind of put that in the gameplay. And then at the— and then at the— and then at the end, you understand the importance of the community use and use cases and all these things. And if you can get kind of a perfect balance of that, what would you end up with? Well, our belief is you end up with something like Bitcoin and YKN. Let us quickly explain that. If you look at something like, uh, uh, the internet, right, in general, right, what happened first? First, it was the, the internet was created, right, the foundation structure. And then, uh, social media platforms start to come in and identify the community into that internet, uh, system, right? Um, now once you've got the, uh, physical structure of the internet set up, then you got the people in the community, then you need a methodology to move their value and things important to them back and forth to one another, right? And, um, that's where the concepts of internet of the money comes in, so forth and so on, so on and so forth. The big issue and the problem is this, guys. Um, I, you know, building this technology and identifying that, uh, you, you know, that the internet of the people wants to move value and this, that, and the other, that's not really addressing or solving the problem as to how do you get them to use it and do it? How do you make it easier enough for them to use it? How do you make it so they want to use it so that this thing becomes, uh, this mass adoptable? And what I found with many of these blockchain technologies is, whereas they do create this very interesting technology that could be used, they don't set it up in a way where it's digestible to the public. Now, the reason that Facebook Libra coin project would have been so significant is because obviously it already had about 2 billion potential users, but it's set up through social media. So it's already got that, the interface where people can extract value and send value back and forth to each other, whether it be through, uh, some blog posts, pictures, selling, uh, items, giving away stuff, communicating with billions of people, what have you. That network already exists there. A network, uh, according to the, uh, the Senate hearing committee just said value of Facebook, something like $650 billion, and growing ever bigger, uh, with the pandemic and, uh, the state of the economy. But instead of trying to reinvent the wheel, right, seeing that something like Libra coin would have worked well, why not just create a social media interface that's really easy for people, that incorporates, uh, the concept and the cryptocurrency in a sense of Bitcoin? Now Here's the problem too. A lot of people say, uh, with things like, well, that sounds great, but why not just build a social network, add Bitcoin to it? Well, the reason you can't do that is because Bitcoin latched on to the store of value idea early, take money. It's made it almost impossible for Bitcoin to do micropayments, right? Micropayments, microtransactions coupled with, uh, social networking I believe is the key to the future, and that's what Bitcoin MYK is. At the same time, Bitcoin MYK, because we were able to create it from the beginning and address all the issues with cryptocurrency, we were able to do all— put all the great things in it, make it an e-payment system, a cash system, make it a store of value at the same time, right? And then create a user interface for people to get in by the millions and billions, right? By using things that have worked for other social networks, whether it be YouTube or Facebook, they've onboarded billions of people and, uh, have billions of visits a day to their site, and they move billions of dollars. So if any one of these were to create some type of cryptocurrency, probably going to end up being a very successful one that's probably going to strike fear in the hearts of government. The problem though is many of their systems will be created based on the stablecoin, and that does not fulfill that need again to have that feeling where you love to see your value go up and up, which is this, uh, addiction we have in cryptocurrency. So what we did with BitcoinMYK, it's absolutely free to you to join. You can join the gate today, earn free cryptocurrency. And the way that works is because you're a part sharer in the value of the network and it's pushed back to you in the cryptocurrency. But what we were able to do was say, what would happen if you could create an e-payment, e-cash that actually had a significant use to people, but at the same time, due to a, uh, a mechanism that reduces the supply in relation to the growth rate, you would create that store value, at the same time build a truly valuable network that people can value by the users on it, by the, by the platform of it that people are using. They're posting content to it, they're watching videos, educational videos, they're adding videos, they're using cryptocurrency to promote content. It has a similar basic attention token feel to it, right? So what Bitcoin MYK is, it's all of the elements of what Bitcoin should have been in relation to the community, in relation to the internet, internet of people, internet of the money. And, um, unlike many other projects that want to adopt tens of billions of people, right, hundreds of millions of people, right, um, The problem is they want you to then buy the cryptocurrency, right? Uh, they become so top-heavy, they cost so much to run that it is necessary for them to expend a lot of the resources and energy where they have to build their own blockchain, use it, uh, or, or work on their network to some degree. Because Bitcoin MYK forks Bitcoin in a sense and then becomes this bridge cryptocurrency across blockchains, the resources it takes to, to power Bitcoin NYK become less and less, which means that value goes back to the cryptocurrency holder. Now, to understand why something like this could be so valuable is the same reason Facebook and YouTube could be so valuable, worth hundreds of billions of dollars, and that is because The true value in whatever we do in our systems, in our economic systems, in our political systems, are you, your participation. It all comes down to your participation. And that's where we get the concept, the proof of participation model, right? Your value is correlational to your participation. Has nothing to do with, can you exchange Ripple XRP for Bitcoin? This is correlational to you using this site because we know if we build up hundreds of millions of users, billions of users, the expansive growth based against, uh, the, uh, deflation of the cryptocurrency burning. In other words, the cryptocurrency is burning against the network building value back in it based against the growth rate, right? Based against the use. And all these things are very important to the growth of a network and value of a network. If you're going to have people at the top of a cryptocurrency similar to Ripple XRP— and I don't mean to pick on Ripple XRP, but the company owns over 60% of the cryptocurrency. They sell it off like they're making profits when they aren't. They're just, uh, making money off of speculation. And if you can't see a problem with that, uh, it might be time to start reading some economic books, right? Because what you're doing is you're building this, uh, this mountain of rubble, as it were, and that rubble may collapse on itself. So that's why you need to really understand the fundamentals of how economies work. Understanding this cryptocurrency game, that it's just not wishing and hoping something happens and Maybe get rich one day, rich, and one day you might not. It's really about studying outcomes, studying models and systems, and understand why they work the way they work, and cutting through the hype of, of, of in mania of what's reality. That's why people lose so much money in cryptocurrency. They can't separate the two, right? And so I think that's all I want to say in this video. I would invite you all to not only join BitcoinNYK because I think it's probably the best cryptocurrency out there bar none, not just saying it because I run the project. I really think if you look into this project, a lot of stuff's gonna make sense about if the idea of this is speculation and scarcity and you can create whatever model you wish, then you just create a model like that, right? Um, you don't have to create a high inflation model. You don't have to create a— because the problem is on a significant level, many of the cryptocurrencies aren't doing anything in the area of use. So if you're more focused on price appreciation, then why not just create mechanisms that force the cryptocurrency to be valuable, right? And that's the part I don't quite understand why some projects aren't doing that. And although they're able to stay afloat, uh, many cryptocurrencies are going through a period of slow death, a slow decay. And it only seems like they're, you know, they're on life support basically. And I think it's— I don't think it's going to get— I think they'll get a lot worse before it gets better. And I think Bitcoin's going to continue this kind of flash pump and dump, um, over the next several months as well. Could be wrong because I think now institutions kind of see this as a way they can get in and try to scam But, uh, um, I don't think it's gonna work out like many cryptocurrency think. But in any event, I hope you guys, um, join the BitcoinNYK project. Check out Craig Wright's theory of Bitcoin videos. Go over to the Monarch Wallet. We'll try to leave a link in description so you can get your share of that $50,000 in HEX. And until next time, as always, guys, take care of yourselves and each other. Don't forget to like and subscribe. If you like this type video content. Take care.