Electroneum - Defi -Btcmyk New Listing CCTips Swap - Cefi Exp

Welcome back to the channel. I hope you're having a great weekend. So I wanted to take a moment and talk about Electroneum, some of its latest news in dealing with decentralized finance. And if you look, if you look at a lot of my videos, you probably will see that I'm one of those people who are quite skeptical, skeptical about DeFi, whereas I can see a place for decentralized finance. I can see the opportunity there in the future. For the most part, as we know, many of the projects that have aligned itself with decentralized finance are nothing more than the latest kind of pyramid Ponzi scheme type thing, where it's just, get into this, put your money in here, and, you know, these things go belly up and you hop to the next one. And it's just such a circus that's happened with very little actual use to the space that's beneficial to people who participate in it. So Electroneum is getting involved with decentralized finance, and so, uh, can we expect the same type of, um, situation with something like Electroneum getting into this, to this, uh, this area? And I think, uh, I can answer that question right away by saying I think it will be different with Electroneum. I think Electroneum, um, what it does is legitimizes, and it finds a lot of use in this space and makes a lot of sense. And so what we have to understand about decentralized finance is that part of the story of these great returns, how they're created, is a heavily flawed story. And what I mean by that is is that reports have come out that have been sent over to the SEC consequentially, which has caused a lot of disapproval of certain market vehicles and instruments being proposed to enter the public markets, have been denied in most cases. Due to some of the reports that were sent to the SEC that talks about a tremendous amount of wash trading dealing with the arbitrage that happens in cryptocurrency market. Now, to put it plain, what it means is a lot of the, uh, uh, uh, the markets that are showing these great returns that these decentralized finance tools are part of is false, right? It's not real. Um, now of course with products like Uniswap, when they come around, they provide liquidity and so on and so forth. The problem with that is the, the actual trading assets they provide the liquidity in, uh, they themselves are false. And so the whole formula can become false and these returns could become unsustainable. So there's a lot to think about what's really happening. But the unfortunate thing that cryptocurrency has been very good at for many years is preying upon the ignorance of especially new people, people who don't study the economy, people don't understand markets, relying on their lack of information to get them to push these pyramid-like hype cycles. And it never fails, it happens year after year. They come up with a new design and a new idea that to make that happen, and that kind of has kept the space, uh, I would say going but not necessarily progressing, right? And so Electroneum is a totally different subject altogether because what we have to understand is Electroneum is one of these products that are really delving into what people need and what they require. And, uh, um, so it's becoming this very useful global currency, uh, with a, with a large user base and, uh, um, a good team behind it that's making it, uh, um, you know, making something like— whereas there exists in DeFi the good apples, the, the part of decentralized finance I think can work. Electroneum would be able to be a part of that particular part of the DeFi area, right? And there's a very, very small area, um, and most of what's happening in DeFi doesn't involve this area, right? But what Electroneum is saying, or what's happening here, they're saying that this DeFi integration may look like, while the— or they're giving us a clue of what it's going to be like. Um, what seems to be going on, uh, is Electrone is keenly aware of the quickly developing domain of DeFi apps, or decentralized financial applications, and in particular of decentralized exchanges. Said head of blockchain Chris Harrison. We are researching how to introduce atomic swaps with smart contracts, which will enable Electroneum to integrate into the, into the DeFi space more seamlessly, Chris said. We are exploring ways to employ custom blockchain oracles via smart contracts to enable swap of tokens on existing smart contract blockchain and on decentralized trading platform. Chris explained that the blockchain oracles are trusted servers configured to scrape and verify data from third-party sources to inform a smart contract that wishes to make a financial business decision based on that data. We're also starting to look at helpful decentralized exchanges, uh, use of custom blockchain oracles to enable far cheaper atomic swaps, he said. He went on to say he and his team finished benchmarking a simulation of the sub-address-based wallet system designed to improve the efficiency of the wallet system and make the electronic music experience smoother, and the results were great, and we're beginning to implement the full system soon. Chris added, we'll also finish the Changle integration and testing. So Um, I thought this was important. I want to read this section too. Electroneum is thrilled to welcome two very widely known crypto experts to their team. One is a globally renowned crypto market analyst who decided to join an award-winning crypto startup that is already doing what Facebook's Mark Zuckerberg has been saying Libra would do for the past two years or more. The crypto expert has plans to focus on helping Electroneum expand expand its network and inspire conversations where synergies exist for possible collaborative agreements. Another crypto and blockchain expert is joining as an advocate. Their objective is to open new doors for Electroneum at the different international forums they go to throughout the year. More news on the new team members next week. So, um, the very interesting thing about this, as Electroneum talks about, um, its role in DeFi, um, and basically being able to, um, have these oracles that are going to be able to perform these swaps a lot across these centralized exchanges, a lot cheaper, um, than what we have now. Um, and, and also its integration into Changelly, which is a very easy, uh, uh, token swaps service, right? And so, uh, an adoptive cryptocurrency, or a cryptocurrency that is able to gain a great deal of adoption like Electroneum— the last thing you want is a difficult wallet experience. That's why it talks about making the wallet experience a lot more smoother. The last thing you want is a Uniswap situation where you're paying these ridiculous fees that to most people doesn't even make sense. And, uh, right, you want the smooth integration, right? You want the smooth process to where, uh, people, uh, don't experience the hardships with trying to benefit from cryptocurrency, right? So in this way, Electroneum's gonna do very well at its integration into, uh, decentralized finance. And I think it's going to be one of those products that can bring out the best of what we can have happen with decentralized finance, right? It spoke about it's already doing what Libra coin was saying it could or would do. And the thing about it is when you're looking at something like Electroneum, Electroneum has all of the makings of what could be a great cryptocurrency project. But if I had to say one thing I always hoped Electroneum would do that they never seem to get get into. As they spoke about Libra coin and Facebook, they never— I think Electroneum never really understood how to incorporate social media into the Electroneum product. And I had been saying for the longest time that I thought would be a good idea for Electroneum to be a social media network, to have its own exchange, to do all these very things that I thought that Electroneum should be doing. Like, you know, for example, how Electroneum is trying to apply for a Binance listing. I pretty much felt like when you're applying to an exchange, a lot of times what's happening is the product is dependent on the exchange to bring it notoriety and liquidity for its products. This is true. But when you're a very adoptable large cryptocurrency, the, the The, the fact of the matter is at some point everybody has to come to you, to you, and go where you are. And so in that sense, I believe Electroneum, uh, would have done a very good job and gaining value through a social network with exchange integration like we're seeing some of the products do. And, uh, where they've done the AnyTask site, they've done much of the TaskWorker, uh, sites, which I think is, is fantastic. But I think they could have also blended that in and integrated that into a social media site. Because it's— to have a Fiverr-like site, I think, will work as you're going into these countries where there's opportunity for microtask and microtask workers, so on and so forth. But for the rest of the globe and in the West. I think it's very still— I think it's very still important. I think it's still important to have the, uh, the West involved with Electroneum as it goes forward, uh, whereas it just kind of comes in at the end. I think it still would work better if it was a process that they went forward with together. And so I would have liked to have seen that in the Facebook Libra comparison. But I don't think this is going to be bad for Electroneum, even though I'm a skeptic to the, the whole decentralized finance movement. I think it's, uh, nothing really new to it. I think it's existed in many forms prior to that. I think, uh, HEX got it right at the beginning of the year, the Hexcoin project. I think that, uh, we always had, um, these, uh, quote-unquote bots that could, uh, go around and, uh, build these type of, um, returns off of the market arbitrage between these exchanges, right? So, um, and we've always, always had some type of, uh, smart contract lending applications, right? So I, I, DeFi to me is— feels like a rehashed idea of something we've already had, just trying to generate buzz and money in the space. I don't think it's really bringing anything unique or new in that sense. But again, I don't think this will be bad for Electroneum. I think Electroneum has done a very good job of building a good team, a good product, and having a good plan and roadmap. But I once heard someone say that building great products in cryptocurrency aren't enough anymore, and we've come into this very dangerous, corruptible space where a lot of our cryptocurrency media is more concerned about what investments they've made as opposed to the value and progression of the space. And we've come into a space where we've come under this dangerous guise of we get rich quick, right, with our money and making 600%, 800% returns this month. And, uh, you know, the reality of the situation is in most cases those type of returns aren't sustainable. And, uh, in most cases, uh, most people aren't going to make that money as opposed to who will. And so all of this, these things, uh, come with the, the, uh, the, uh, with DeFi, right? With some areas of DeFi, most areas of DeFi and crypto right now. So, but Electroneum getting involved with it, I think because it'll work for Electroneum as it focused so much on the early part to build a good product. Now it can focus more on the markets and the price, and I think that's what they're trying to do. Unfortunately, although Electroneum's built a great product, investors in cryptocurrency don't own part of the product or company, uh, in similar fashion as if you were involved in a stock market, right? If you had share ownership, um, in a business, right? So it's not the same. So what happens in the market is going to determine how and where you get your value. It's going to be very important that you be able to trade it over the markets, and it's going to be important that the markets are highly liquidable and that they have some value to give you back on your initial investment. Or there needs to be ways you can earn more through some type of staking situation, or maybe what's going to be happening with this, uh, this DeFi, uh, situation. So it looks good. I think it's a good idea for Electroneum. Why not? I think they should give it a try. Uh, there's certainly a product that, uh, is one of the only real products for me in cryptocurrency. It's really gotten down to maybe about 3 or 4 products that I think are even necessary. And, uh, the rest I don't believe are. And so Electroneum is certainly one of them. But now I want to segue over to our project, BitcoinMYK, one that we do believe as well to be one that's going to be useful to people, beneficial, and help to progress the space. And, uh, so let's see what's happening with BitcoinMYK's new listing on the CC Tips, uh, token swap. Exchange. Okay, so we're here on the CCTip token swap, and many, um, especially me early on, I had been hearing about CCTips, and I understood it to be a bot, um, service that integrated into social medias like Twitter, Discord, and so on. And this was a great way to get cryptocurrency to people across social media to get them involved in the space. What I wasn't aware of was that CCTipSwap has a service similar to Uniswap where you provide liquidity to pools and you're able to basically transact your cryptocurrencies on over a decentralized exchange. Now where this is great in this way is that with TokenSwap here, or CCTipSwap, There is a great deal, there's a great deal less fees. I think it's only like 1% or something like that, right? And you can see like if you select trading pair, so these are many cryptocurrencies that have been created and are entering into the liquidity pools with the CCTipSwap, right? So if you use pairs like, I believe it's Tron, Ethereum, Dogecoin, Bitcoin, um, you basically get, uh, fees for that, right? You get, uh, um, bonus fees paid back, transaction fees you earn so much on, on when you provide liquidity to those pairings, right, for those particular coins. And that's fantastic. That means you get to earn all commissions off of the trading of your own cryptocurrency pairs, right? As long as they're paired up. And so, um, the fees are a great deal less, especially when you think about new people coming into cryptocurrency. And, uh, it is very hard to imagine, um, that people— new people are going to be able to sync these wallets, use these wallets as we just covered with Electroneum. They've spent— they're spending a lot of research and time on, uh, not only their integration into DeFi but also making the wallet experience a lot smoother. They're changing the integration to make it a lot more easier process, especially for people who, um, are going to be new people entering into these markets. And if we want cryptocurrency to work, that's going to be very important Uh, when we take a look at the DeFi space, it only accounts for about 400,000 people. Um, and so this is a very small pool. Um, and you know, the, the fact of the matter is if you're too small and you don't have many wallets, then they're always— there's always going to be, uh, a wall that you're going to hit, right? And so like with our project BitcoinMYK Uh, what we tell a lot of investors and people interested in the product as we go through our gradual growth is what people have to understand about the setup is that it's meant to be, uh, a product that accomplishes a high growth, right? High growth rate and a lot of users, and it's meant to overwhelm um, the project with a lot of users, right? Because at the end of the day, the most wallets and the most users, whatever your product is doing, that community size is going to be what's going to matter the most. That network and that brand with that network. And, uh, it just doesn't matter how cool the technology is. It's like having a very nice fast car that only 5% of people drive, and 95% drive a Toyota Camry. So these are all things that I think we have to keep in mind with that, uh, when we try to look at the space overall as to what products are probably going to be useful in the future and actually do something. Um, so where is BitcoinMYK? Let's see if we can find— second here— our product we have just listed. And it's cool because it is a tip bot at the end of the day, right? And, uh, what's happening with that tip bot— excuse me, see if I can pull it up. Oh, there we go. So here's BitcoinMYK, right? And let's see here, we just listed it not long ago. Let's see. And what's really cool about it— and so there we go, we're seeing 10 million Bitcoin MYK for 1 Dogecoin. So there are people putting it out And wow, I don't think this person knows the value of a BitcoinNYK coin, right? So that's hilarious. So yeah, well, I don't know how they, how they did that, right? Oh, I guess he's saying he'll take 10 million for one Dogecoin, right? He certainly doesn't have 10 million, so he's So that's, that's hilarious, but it's quite, quite interesting. I'm sorry, guys. So, uh, uh, uh, what we just listed, I, I don't think I put any, any even put out. Oh, we, what we sent out an airdrop, um, and that's a cool thing I was trying to mention about the airdrops is that, um, uh, they integrate through Twitter and so on and so forth. And so what's happened with that is, um um, getting to claim BitcoinNYK, uh, through the airdrop. That's, that's, uh, free. So I was kind of wondering what was going on. So yeah, we put our— sent out like, excuse me, I think we sent out about 1,000. So, uh, it being on this exchange, they're probably not aware that the BitcoinNYK coin, I think, is trading for something like, uh, 20 cents on the, um, on, uh, the Memo exchange. And I, I think it's like a little over a a penny or something on the Hive exchange, and it's almost about 9/8 of a penny, is it? I have to double-check that. I think it's about close to 6 or 8/10 of a penny on Steam blockchain, right? And so I guess so, so probably the new people are getting the airdrops, they probably don't know the value of BitcoinNYK coin. I'd also, you know, put out there, as many people who hold the coin know, that the supply is very low of Bitcoin MYK, and the growth rate we have about now, well over 6,000 low-level KYC accounts. We have about 15,000 accounts over the exchanges. And so we're growing pretty well there, and I think the bot service. Let's try to take you over there so I can get through it. Kind of lost my point with there, but that's a, that's a good situation if you can get 10 million Bitcoin NYK for one Dogecoin. Oh my goodness. Let's see here if I can find that. I'm looking for the area here that allows you to send out the— integrate into social media. Bear with me guys, please. I'm still new to this. Okay, I think you got it. I got it now. Yeah, you go over to the tip tracking on Twitter, or here it is, right? And you can see it, create tips. And it's pretty cool. Probably many of you have already received from CC Tips, right? So it's pretty cool as it has both the exchange integrated into it as well as it has the ability to send tips across social media. So that's pretty darn cool. And, um, you know, I was aware that this existed, but I was like, I don't know how effective that'll be, people just sending people random tokens across social media. But after, uh, looking at how this works exactly, how it has a liquidity pool with cheaper fees than Uniswap Uh, easier wallet interfaces and, um, uh, UIs, right? Um, and then having that ability to create cryptocurrencies and integrate in social media, I think that's pretty darn cool. I actually think that's pretty darn cool. And, uh, you know, if I'm honest, guys, there are a lot of things happening in cryptocurrency I don't quite understand. Like, for instance, like, why I think Ethereum is complete trash, crappy as far as, as far as the user their user experience with it, right? The syncing of the wallets, you know, all this stuff I think is very, very, uh, not user-friendly for new people, especially if you want to adopt people in. And, uh, um, those things exist with Ethereum and some of these other projects. And, um, one of the big problems with cryptocurrency is people are willing to slow the progress of cryptocurrency just because they have all their investments in some other cryptocurrency versus Ethereum. And the problem with that, I think, is, um, you know, it impedes, right, the growth and also restricts better products because the better products don't get the attention of funding because then you got gatekeepers with the Bitcoin maximalists and Ethereum people trying to block them, although their products may not be as efficient or may not be, uh, the best product going forward and in the future. And I'm not trying to rag on Bitcoin or Ethereum. I know a lot of people put their trust in there and they got all their value and money in there, but just kind of stating some of the facts about that. Even if, um, it was the clear case that Bitcoin, Ethereum came to be inferior products to many of the up-and-coming projects, there would still be now all these very rich and powerful people in Bitcoin, Ethereum that don't want to lose their value in bags. And that's why I support forks like what we're doing at BitcoinNYK, because as long as a new project emerges as a competition with Bitcoin, Ethereum, they're going to try to take them down whether they're better or not. They say they won't, but they've shown otherwise. And I think the answer is not so much creating an entire new project that's going to do that, but creating one that integrates well into the value systems as they exist today. I think that's the only way we can do it without a lot of time being wasted and a lot of destruction in the process. Um, and unfortunately, that's just the way it's probably going to play out. But I think our project Bitcoin NYK is taking the right approach. Uh, make sure you join our project today, our site, and get some free cryptocurrencies. Or go on our Twitter, we'll leave a link in the description where you're able to, uh, get— participate in a free airdrop and get some cryptocurrency in our, uh, Universal Basic Income project, which many of you already know what it is. We believe Universal Basic Income to be a mass adoption vehicle. We believe 80% of the globe would opt for UBI, and we're growing, um, very, very well these days with very little marketing. But projects like CTTipSwap and the CTTipBots obviously are turning things around for us, are gonna be making things a lot easier as far as getting the adoption of millions of people like we're after. So before we get out of here, we wanna do a quick explanation of our centralized, or CeFi, centralized finance system. And tell you some of the differences and why we believe, although, uh, the space has moved on to DeFi, why centralized, um, finance, uh, it may be very necessary going into the future. And so we're going to talk a little bit about that. Okay, so we're going to explain what Bitcoin centralized, or CeFi, centralized finance is all about and how it works. How is CeFi different from DeFi? So every so often when you hear the term DeFi come up a lot, you'll hear CeFi, right? And who's doing CeFi? Well, CeFi is going to be something like your Binance or exchanges. And many of the reasons why you're doing DeFi in the first place is so you don't have to have CeFi. And a lot of people already know how I feel about DeFi. And why in the world would I think CeFi is a good idea? Well, for the most part, I don't think CeFi is a good idea. I think it's a bad idea. But there are certain circumstances where I think CeFi may work well and may be necessary. And I think the Bitcoin NYK project may fall in just one of those areas. Uh, very rare, but I think it might fall in one of these areas that where that may stand to be Correct. So you first have to understand the makeup of, um, the Bitcoin MYK project. What is it? It's a universal bridge cryptocurrency. That's important. It means that there exists a counterpart to Bitcoin MYK on, um, on major exchanges you can— or major blockchains where they have interoperability where you can move our cryptocurrency Um, sort of like an atomic swap, right? You can move it out of one blockchain to another, right? And we, through a centralized hub, facilitate that. Um, now where the centralized finance comes in is when you're dealing with something like universal basic income, um, what you have is you're going to have a lot of people who are interested in universal basic income but may know very little about cryptocurrency. So you're going to probably have a lot of people who, uh, don't know how to navigate, right? So that sets up a situation where, uh, a product or service that can aid them in that kind of works. Now, the other thing I feel a lot in my bones is that a lot of decentralized finance products are going to be scammy, right? Or pyramid Ponzi schemes. And that they're going to be bad for the space and people are going to lose a lot of money and people are going to walk away and get burnt and never come back. And I believe that is going to happen. And I think the cryptocurrency space hurts itself a lot. But when we speak of the Bitcoin MYK centralized finance product, here's the really cool part about it. In this kind of circular loop-like system, we also, uh, have it set up to where it's actually free. Now, I know this free stuff and this free idea of universal basic income and money, uh, is just so far beyond the scope of many of our minds that we cannot understand why or how it's possible. Where's the money coming from? Well, I think it's important to understand, or say it this way, yes, it is free in a sense where it's free to the end user. But it's not free overall, right? And so what I mean by that is that there's value being created when big networks are created. And if the network gets big enough, you can use a freemium service model to, in a way, I guess the proper term would be to defer the value that needs to go into it onto another time. And so the best way I can explain this, look at something like Facebook, a freemium service model where you basically have Facebook, the company would pay for all the servers and they pay for all of the platform and all the development that went in there. We didn't have to pay a dime. We get to use the service free. But what happens is by being able to use the service free. We don't have to pay anything, but they use our data in a, in a sense to where they're using this data to, for outside companies and products to get it. Now here's where CeFi comes in for us. We don't use your data, but what we do use is the network. We turn the network value on itself and use the arbitrage in our own Bitcoin MYK markets across these several blockchains to to create a free centralized finance tool for you, right? How do you— how is it free? Well, because in theory our cryptocurrency is free. You could get it, you could sell on the open market, and then you could purchase the Bitcoin MYK CeFi coins, right? Which we're going to explain how they work in a moment and why they're so important and why I think you all will get and fully understand it here. So you will be able to do all of this free without spending one dime. And because of that, because, um, it's not scammy or Ponzi like a pyramid, and that the product has been paid for, and there was no ICOs done on it, there was nobody who purchased the platform or the site, uh, those things were all paid for by BitcoinMYK. And my own money and stuff like that. So it was nobody who came in and put up all the money like many projects do. And then people did ICOs and people then go and pump up the price and all that. None of that. The product was delivered free to use, free to get the cryptocurrency, turning the network value on its head and then extracting that network value through centralized finance arbitrage. So let's get into it. So you might have to rewind the video a couple times, come back and read it, or feel free to ask specific questions about it. We'll be able to help you and more than happy to assist you with this. But the Bitcoin or the BTCMYK CeFi coin is always going to be valued or paired to the US dollar, right? So think of it like this coin is going to always be Now this coin, because it's going to always be paired to the US dollar, you can think of it— it can function as a stablecoin for products and purchases within the BitcoinMYK network. But although it's pegged to the US dollar, it's backed by the BitcoinMYK token, right? So let's continue on with this so we can get it. So the BitcoinMYK CeFi coin is backed by the BitcoinMYK token's market value, meaning the present market value, which means Basically, if a Bitcoin, uh, a BitcoinNYK CeFi coin is always going to be equal to $1, it's— that means that the BitcoinNYK tokens is going to always be able to be redeemed for a dollar worth of BitcoinNYK CeFi coin. So that's basically like saying, um, we're always going to be able to, to give the value back because we're always going to have the market value. We're always going to have the coins to give you, and we're always going to be able to give you the exact amount of coins that will equal a $1 market value that the Bitcoin, uh, NYKC FI coin is pegged to right now. But how do we know the value of— how do we know that it's valued at $1 in the first place? And this is where it gets into this loop, and it gets a little bit technical where, um, uh, you really need to pay attention to this part. The reason that this happens is because when Facebook first went into the, into its IPO stage and start trading as a public company, the way that the analysis went for products like Facebook or a lot of it was it was estimated on about over the life of an account, a Facebook account might net you about $200. Right now they're talking about the life of— it could be through advertising or whatever value they extract from that. Now cryptocurrency, I would go so far as to say an account is even more valuable than that. Why is that? Because, well, cryptocurrency account is more— it's likely that people are going to be buying, you know, this is a very money-driven, uh, uh, industry. And so people are going to probably be investing in your token in one way or another. Uh, money's going to be multiplying across cryptocurrency offers and so on and so forth. So it is quite conceivable for us to come up with that. There is a, uh, pretty good, uh, analysis done that our accounts might be like $200 each. Low-level KYC accounts have— are well over 6,000 now, 15,000 over exchanges. So when we, uh, take an average of that, we're probably somewhere around 6,000 actual accounts we're looking that, right? That comes about $1.2 million. So what, what we'll do is, uh, what happens is there will be a Bitcoin NYKCFI coin. It's more like a stablecoin, right? That's doing all those things we just mentioned. The first phase will be about 25,000 issued. Now what happens when they hit the open market, right? Well, say if a person wants to create a liquidity pool a market maker liquidity pool to give, uh, value to our, um, our, um, or give liquidity, right, to the BitcoinNYK token so people can get that in and out when they want, no problem. Well, 70% of the CeFi coin proceeds on the open market are going back into the BitcoinNYK market, right, to provide liquidity. So all that's happening is it's when you're buying this, the money's going right back. It's like a loop, it's going right back in there. Now, only 70% of doing that— what's the 30% left doing? That none of that money goes to the platform or the company BitcoinMYK.com, anything like that. It all goes, circulates right back through the market. 30% goes to the Bitcoin, um, MYK CeFi coin, right? So that means that if a person is holding that coin, which is acting like a pretty stable, like a stablecoin, right? Then they are able to do two things. They can redeem it for the Bitcoin MYK coins, right? They're always going to be able to redeem them. They're always going to be able to redeem them for $1, $1 USD, whatever the market value is of Bitcoin MYK, right? So I give that— we give the example here where you said 6,000 accounts uh, let's say they rise to $12,000, right? So that— so how does the CeFi coins on the market gain value? Well, they become redeemable for 100% gain, right? So that means— that basically means that the CeFi coins that are being purchased, uh, they're going to be able to be purchased at, uh, depending on the value of the market, right? They're going to be able to be basically redeemable for 100% of that, meaning that, uh, if you've had, uh, X amount of CeFi coins— let's say you had a 1 CeFi coin, right, that's $1— and then we gain 12,000 accounts. Well, those— our value overall, our, uh, market value or our product value has increased 100%. That means your CeFi coin's value is now redeemable 100%, and we can always provide the returns because we can provide the cryptocurrency, correct? We have the cryptocurrency to provide. It's not promising returns that you couldn't get. Now, the 6— let's say it's only 600. We have 6,000 accounts, only 600 new ones enter. That's a 10% increase. You'll receive a 10% redeemable Bitcoin MYK, or you can just try your luck on the open market with the CeFi coin. And see if you can get it a little bit higher, or maybe you just need to liquidate quick for some other cryptocurrency on that market, right? So how do we know what the price of the BitcoinMYK coin is to redeem? So it's calculated on 30-day market average, and that's done because if you try to just go on what the market's reporting it at, then you have to then calculate the sale value, the down downward pressure value. And when you get through with all of that, if there's a big flash pump in the market or, or, uh, or something like that, uh, where it touches a high for about 5 minutes, it goes to a low, then that offsets the whole formula. So that's why we take an average instead over every 30 days, right? So let's say the 30-day average comes out to be 1 penny per Bitcoin MYK token, then that means you will get 100 Bitcoin MYK tokens to equal 1 BitcoinMYK CeFi coin that always has to be paired to 1 US dollar. You have these 2 options. You have option A, you just redeem the CeFi coins for more BitcoinMYK tokens like an example provided, or you just sell it on the open market to anybody who wants to buy it. You, of course, if you sell it, then that redeemable option will pass to them. right? And you can sell it that way and then redeem it, right? And sell on the open market for other cryptocurrencies. So, pretty interesting, pretty cool that that can be done that way. And we think it's going to really help, especially new people who want to get involved with this. And again, you could do it totally free. You can just come in, and that's what I like about it. We've always tried to make BitcoinMYK a very legitimate freedom service cryptocurrency. We believe that, um, due to our deflationary model and then based on the amount of growth we expect to achieve, that the value will find its way back into the network. This future value will offset any inflation that's caused by free cryptocurrency. Going out at this period of time, right? Using these centralized finance system, we believe that will stabilize it and one day it becomes an active global currency, um, at which point then that, uh, you'll be able to, uh, use it in commerce every day. So many people have the wallet and they can transfer it back and forth. But it's a— if it would be a very interesting and a very impressive product if we could pull it off. Universal basic income is like the holy grail for many great men and economists that hasn't been achieved yet. Wouldn't it be amazing if we could achieve it through cryptocurrency? And that's the possibilities we have now with BitcoinNYK. But that's all I want to say in this video. If you have any questions, feel free, don't hesitate to ask about this. Very important. We believe this product's going to be very beneficial to you and very helpful. So you can contact us, uh, leave a comment in the video and contact us on our Discord, use our chat rooms on the BitcoinNYK.com site, uh, any way you want to do it, whatever you want to know, we're here for you. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe. Don't forget to join the Bitcoin NYK project. It was created for you to give value to you. You are the most valuable important asset in the world. Not gold, not silver, not printed fiat currencies, but you and your participation. That's all I want to say in this video. Until next time, as always, take care.