In this video, the presenter introduces the BitcoinMYK project, a community-driven Q&A platform modeled after Yahoo Answers that rewards participants with BitcoinMYK tokens (and potentially WhiteCoats tokens) for asking, answering, and voting on questions. The platform aims to create a value system where information exchange is incentivized with cryptocurrency, and it claims to be a deflationary sidechain that provides universal basic income. The speaker then shifts to a market update, noting that the BitcoinMYK-backed stablecoin (the "back-dollar") has risen above $1.67, trading around $1.82 on Hive Engine, marking a significant price movement from its previous $1 level. The video concludes with a call to like, subscribe, and share.
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Welcome back to the channel. I hope you're having a great weekend. So want to talk about the BitcoinMYK project has an alternative to what you might get with Yahoo Answers, many valuable sites that answer some questions, um, that we seek the answers to. And so anytime we're trying to create models that, um, generally, uh, use a value system based on, uh, information that people seek, the value of the content in relation to that, I think these type sites that focus on information that people specifically have, such as, um, asking the community questions, um, I think that value-wise can make a lot of sense, uh, depending on what that information that they're obtaining could mean to them in their value system. And so in seeking to have good content to somewhat be relational to helping us get an understanding of the value of some of these cryptocurrencies, I thought it was a good idea to create a site that kind of took concepts like what you get in Yahoo Answers and where there are important questions asked and someone seeking the answer and hoping that the community has it. And this tool gives us a chance to do that in cryptocurrency, but the difference is you're able to earn cryptocurrency when you give these answers, when you give these solutions. So, uh, it works fairly simple. The questions the community posed, such as, let's start with the basic question of what is this project? What is BitcoinMYK? And you can see the first vote answer is a Bitcoin sidechain deflationary cryptocurrency that provides universal basic income to people, right? And then you have these other potential answers, possible answers, or it may not be, um, anywhere near the answer at all, similar to what you get when people give out information and the community tries to do that. And then here's just for talking about when you answer the community questions, your answer will be paid in Bitcoin MYK tokens. The most votes and best answers will receive additional tokens. And, um, you can also, uh, when you vote as to what is the best answer. You can also basically give your specific answer by hitting the reply button and talking about, you know, your idea of what the answer is or what it means to you or what you think it should be in that respect. And through the participation, people will receive cryptocurrency. And in the case that, um, they, uh, may also be able to get additional Bitcoin and WhiteCoats tokens provided to the community, right? The community decides and votes them in and say it was a very good answer. So it's very simple but can prove to be a very valuable, uh, endeavor, especially of the blockchain and its level of security. And, uh, helping to establish, uh, a value system in that, you know, in that way. Uh, but anyway, guys, I also want to just segue right quick to what's happening with the Bitcoin NYK back dollar. Uh, it has broken over $1.67 today. All right, over here on Hive Engine, and the Bitcoin NYK back dollar is now trading around $1. Value-wise, it's broken over $1.67. That's quite, uh, interesting in that a few weeks prior, a Bitcoin MYK/BAT dollar was only at $1. Now, I won't go into detail in this video about what a Bitcoin MYK/BAT dollar is, but if you're interested in your crypto financial, uh, futures, I would definitely advise that you at least know what a Bitcoin MYK/BAT dollar is, right? And so I think that will serve you well going into the future. But the Bitcoin MYK back dollar is jumped to $1.82. Again, the actual assessed value is, um, we're finding to be somewhere around the $1.67 range at this point in time. But it's interesting to see what this experimental slash between the cryptocurrency and a universal, or rather a stablecoin, so to speak, what it's going to do in the future. And so that's going to be definitely interesting to watch. But that's all I want to say in this video at this point in time. If you like content like this, do not hesitate to like it, subscribe, and share the video. It brings the cryptocurrency space a great deal more value when you do that, and awareness, right? But, uh, that's all I want to say in this video. Until next time, as always, take care.
