Electroneum - Price Drop/Hex Dumps/Mass Appeal

Hey you, welcome back to the channel. Hope you're having a great day today. I want to talk a little bit about the Electroneum price has dropped quite a bit since its rally up, uh, last week. Electroneum, uh, basically, uh, after the news of Phase 2, uh, saw some crazy gains And as always, you know, we don't expect the market to go straight up, but we want to talk about some of the reasons why Electroneum is probably more likely going to be a good bet into the future. I think we're kind of getting the routine down now. We saw Electroneum go from about a tenth of a penny to over a penny this, this week here. And so now it's settled down around about a sixth of a penny. And, uh, you know, what, what's going to happen from, from here on. So, you know, as we've discussed earlier, we know pretty much that the plan is going to be focusing a little bit more on market conditions as well. It's going to be focusing on, um, that inflation rate. Um, and remember, the value in cryptocurrency gets exaggerated a lot. So reducing the inflation rate to the, the amounts of where Electroneum wants to reduce it, we're talking about probably something like about 5 times less the inflation rate. You want to get down around something like, uh, around where the US dollar is, right? So it could be comparable to that. It's around 2%. So you're probably looking at going from about 9% to 2%, right? With money then being injected into the price of Electroneum without as much inflation, sell pressure, you're probably going to see an exaggerated gain at some point over this period of time. So I'm not giving financial advice here, um, you know, you got to do your own due diligence and figure out what you want to do with that. But looking at the patterns of what's happened with Electroneum, uh, being dead, waking back up, being dead, and we know that the project's probably going to be around for quite a bit of time, it's probably likely you're going to see Electroneum move up again from this value. And with these new developments, it's probably going to be a great deal more higher, right? So that's something to be mindful of. Looks like it's still under 100 in its ranking. Looks like the daily trade volume is pretty good, over $1 million. Market cap of just under $70 million. But yeah, I think it looks still pretty optimistic. Future for, for Electroneum. And I believe here in the near future as well. And I think with that information, I, I think we're definitely going to see some, uh, Electroneum perform very well again, right? So I just want to weigh in on that a little bit because I know some people talk about it went up but it pulled right back up. And some of the people who, um, uh, are not Electroneum's biggest fans, who were not convinced that this was the time to get in and invest Um, you know, just kind of putting it out there that our Electroneum, I don't believe, is done yet. I believe this is still moving in this, um, gradual, um, uh, improvements coming in the future. And it's gonna— I believe we're gonna see a gradual price incline based on those, uh, on those factors. So quite interesting, uh, something to think about there with the Electroneum project. Now let's move on to the Hex coin project. I want to talk a little bit about that because it too seen quite a reduction in its value. All right, so taking a look at Hex here. Now Hex is at around a fourth of a penny. We were quite excited believing we're gonna see it hit that penny mark, and we had a great pullback. Now, the thing about HEX is that it kind of puts you in this position where there's quite a bit of uncertainty. You know, especially I could tell from new investors who've come in because we're kind of at this crossroads with HEX or at this point where we could either see HEX return to its glory hovering around a penny, or we could actually possibly see HEX go all the way back to whence it came. And this is a very possible situation in cryptocurrency. Of course, we can also see HEX do that and then go back up a great deal higher than it was prior to that. So anything can happen with this. And, uh, you know, on this channel we try to give you a more realistic scope, you know, of things. And what I say is you should always come in with money you can afford to lose or willing to sacrifice and lose. But I think with a project like HEX, it's one of these, these, um, coins— and this is just my opinion— but it's one of these projects that if you believe in it, just, just set it and forget it, right? Just stake your money and forget it. Don't worry about what the price is today or tomorrow. You just leave it in there and let the cards fall where they may lie. I don't think HEX is gonna really be a great trading coin. I don't think it's designed to be that. And so this is kind of a, uh, gonna end up being a not so good situation for traders because I noticed that a lot of people who are coming into the HEX project they either want to do shorter stakes or they will prefer to, you know, not do stakes at all, just kind of keep their money on exchanges and be willing to pull the trigger, right? And that can work to a great degree, but it can also put you in a situation where you're selling yourself way too short. And it may just so happen that when you start to get those really huge gains, uh, or where HEX can end up after the big payday period, that you got to look back and say, wow, that was a chance I could have made a great deal of money, but I made a little bit of money, but that could have really been life-changing for me. And so HEX possibly has the potential, possibility to be one of these type projects. And I think the reality of the situation is we have to come to terms with we do not have many projects in cryptocurrency at this point in time that are are ever going to do anything like that, right? Now, of course, a lot of questions have come up with HEX. I watched a video recently, and I won't go into deep details about the YouTuber who was involved with it. I'm pretty sure many of y'all will know who it is and be able to pinpoint who I'm talking about. But, you know, there are these new ideas to create HEX-like projects, uh, but, uh, with more transparency. Whereas the accused, uh, uh, some numbers like over 50% of HEX belonging to Richard Heart won't be in these type projects. So they're supposed to be a lot more transparent, a lot more safer, um, without, uh, organic, not without recycling. And I'm the kind of person like this, uh, I'm the kind of person who, uh, believes like this: it's okay to be, uh, uh, how'd it go? How'd that old saying go about, uh, not being so, uh, uh, trusting in something so much that you lose your sensibilities and your brain falls out of your head? And I've got it completely wrong, but it's something to the, to that effect, right? You can believe in something, but it can reach a point where you have to have your sensibilities about, about you, right? So there's a lot of questions that come up with HEX. It's very quick success, right? That's not believed by some. Some people believe it's due to the manipulation of Richard Heart. I happen to know that we're in a space where different forms of manipulation, it's like the kind of Wild Wild West, right? This is no different than how traditional markets were prior to many of the regulations coming in, right? So all this stuff went in all the time. So this is kind of repeat of the past, right? So it's not so hard to believe that there is a lot of manipulation that could possibly be going on with the Hex coin project. But, you know, it is— I think it's only fair to mention that this is widespread through Bitcoin, Ethereum and all the other cryptocurrencies as well, because 95% of our trade volume happens over centralized exchanges, and that's where a lot of the manipulation takes place and the wash trading and so on and so forth, right? So there's a common problem. It's not an isolated problem to the Hexcoin project. So I would like a much more broader conversation about not just pointing fingers at Hex and trying to say, you know, my shortcomings are better than yours, but to kind of look at it as in full scope of what we're dealing with here. Um, you know, in saying that, if all is true and, uh, it's got to be dependent upon Richard Heart to recycle his Ethereum to keep the price up and hit those high prices, uh, you know, whether he can step into that frame or not, obviously that would affect the price. And that's what's brought up a lot in some of these other videos going around about people want to do other versions of HEX and why the price is coming down and why it might be going up and so on and so forth. I think whatever we walk away in that is we need to understand that the one— there are some, some very pivotal things that HEX gets right, and that is one, the store of value situation in cryptocurrency, it being the most valuable asset class that exists in all of finance, I think, right now. But in addition to that, looking at the market psychology that gets left out of many cryptocurrency projects, what I found is in the development of many of these spaces, all the mechanisms are put together, but how people react to markets and who are the people who are— you're pulling this demand to, how they react to, uh, these market conditions, uh, is something that I think gets left out. And I think Richard Heart has done a good job of tapping into that to, to, to create, uh, this interesting product. And, uh, that's very important. You shouldn't leave that out, right? A lot of people holding bags in Bitcoin or Ethereum, they said, oh, you know, HEX is a scam, it's a Ponzi scheme. And, you know, the Bitcoin prices are suffering even at the halving because what's happened is Bitcoin hasn't set a compelling enough case yet to be a high-demand product. And I think they know that, and I think that angers them a lot that Hex can kind of come in and tap into that and do kind of well. So they're going to always point to it as a scam. And in the event that there is some type of manipulation there, then that's going to be a great factor in what happens to the price of HEX. So we should be mindful of all these things. I think we should be realistic and honest about, um, you know, what's happening in cryptocurrency. We don't want to just play hype man, you know, every video for the project. I know we got bags and we want to get rich, but you know, you're not going to get rich if things aren't fundamentally sound, right? So you're just gonna have to come to terms with that. So as far as, uh, is HEX going to be able to reach, get this new money, it's going to depend on, uh, you know, more adoption. It's gonna depend on more believers, depend on more money willing to take a chance, more people want to take a chance on a Hexcoin project. And so, uh, you know, that's going to depend on quite a bit. But, uh, so far, uh, it's probably one of the more, uh, interesting and exciting projects in cryptocurrency. But it's going to also be important that that excitement stays up, right? I think in the early days of, uh, Hexcoin when it just dropped and dropped and dropped. Let me play devil's advocate a second here and let's just say that Richard Heart was at that point in time, if all is true, the accusations, right? Just playing, just playing it out, the scenario. Let's say it was true and let's say that Richard Heart kind of stepped back and let HEX perform organically. And it wasn't performing so well. So then he starts the recycling of the Ethereum and then the price goes up, right? So here's a few issues with trying to keep HEX, the HEX project, relevant enough and exciting enough, because I think it's going to depend in the marketability of HEX, going to depend on a lot of keeping new people coming in and watching this thing, right? I'm wondering if all is true, does Richard Heart just let the price fall and die they boost it up at times, or if there's no involvement at all, I think it's going to be important that the marketability of HEX stay very, very relevant to people, and it probably will. I think HEX has already kind of got a good base to start off with, and it's going to depend a lot on what people believe is going to happen. And if they don't really know what's going to happen, it's going to be hard to predict. So I think there'll be quite a few people stay in, might get a, uh, another big jump or pump in HEX. Who knows? Some people also say that a lot of these, uh, side projects in HEX, a lot of applications built on HEX doing various things who have accumulated a lot of HEX, they're taking profits. You know, that's, that's going to be something that's going to happen. I mean, it's going to be hard to to not take profits on these type of returns, right? Uh-oh, I apologize guys for that. I always turn off my notifications and I forget when they're back on. But anyway, let's talk a little bit about mass adoption, mass appeal, uh, in relation to projects like this, and, uh, where I will close off the video. Okay. I think I probably got my notification problem solved here, but let's talk a little bit about mass appeal, mass marketing, mass adoption, right? So this is a very interesting statistic. Um, about 5 billion videos are watched on YouTube every single day, right? So that's, um, I think YouTube's like the second largest website in the world. That's a great deal of people. 5 billion videos watched every day. Those numbers are astronomical. And when we think about getting a cryptocurrency to the masses, and many of us try in one effort or another throughout the cryptocurrency space, what's very interesting is that, um, um, the only one I think could have possibly done anything on a scale like we're probably looking for is something like the Libra coin under Facebook's Calibra project. And of course, we see everything happen with Congress. We see how quickly they came out of the gates to stop that. This is not something that took place with Bitcoin or any other cryptocurrency, and it just shows how powerful social media can be in this particular situation, right, to to have a situation we haven't had since, uh, the late 17th, 18th century with the Dutch East India Company, uh, a, uh, this business enterprise ruling the world, being more powerful than monarchs and countries. And Facebook would have been the first private business to be able to pull off a similar thing with its own currency system. Now, of course, the big huge problem with Facebook Libra coin would have been that it would have been a stablecoin with no real public market. And that makes it hard for investors and people who like us in cryptocurrency who want to make money doing it. So you need something on that scale, but not quite like that, right? And then you can see, of course, all of the pushback you get with especially something like what happened, uh, with the 2.5 billion users that Facebook has and what that would mean, uh, basically, uh, you know, to the globe. So we can see the importance of getting a project to something like mass adoption that could have potentially billions of people using it every day, getting something out of it. Now, why are, why are these people here? Well, they're getting education, they're getting a lot of information. YouTube is also thought to be one of the most educational platforms on the planet right now, right? So sometimes I think part of a problem is not always reinventing the wheel but making, fine-tuning what already exists, what already works for people. And we're here looking at BitcoinMYK.com, project I'm involved in that tries to do exactly that. And it tries to do that by addressing two of the major issues I believe that exist in cryptocurrency, one being inflation, right? We just can't seem to get rid of that inflation, whether we're dealing with it from, uh, just, uh, the necessary components inherent to the system like mining. We have to expend a lot of energy and resources, or whether you're dealing with just how do we create enough demand to get people to want to use this product. And I think the BitcoinNYK project has found a perfect way to do both, uh, in relation to many of the projects we're involved in and trying to figure this out. First, it's a deflationary coin, right? So it's always lowering its, um, inflation rate so low that it makes it much more easier for the price and value to go up. And that's going to be very important to the supply of your cryptocurrency. You know, as good as many of our products and projects are out there, we just cannot get above or get over that huge supply, that huge hurdle we got to overcome. Right now, the Bitcoin MYK project is down to only about 30 million coins, and they are reducing all the time. And we expect that it will get down to even, uh, sub-Bitcoin supply, which is 21 million coins, and at some point end up around maybe about the 5 million to 1 million range. That's very important knowing that going into the future and building essentially a large network. The second part is If we remember the statistics we just looked at and we just, we just thought about here, we have integrated a video feature in that integrates right into YouTube. And this is important because there are a lot of great video platforms out there, but the one thing that they don't seem to get right is the quality, right? And what it takes to upload videos and upload times and how they're hosted and where they're hosted. I think the reality of the situation is a lot of people just want to watch videos with YouTube-like quality. If you're a video content creator, it's more likely if you spend 8, 9 hours editing a video that you want to bring that video to your audience with the utmost quality, right? And so what, what tends to happen in the cryptocurrency space is we want to try to create a system where it can have the decentralization, it could be hosted You know, on the sides, but it just isn't practical, I think, to the point you're going to really have 5 billion people crowding these networks like you have, um, 5 billion videos get watched today on YouTube, right? It's probably not going to happen. So with this system, you're able to watch videos and it still integrates through YouTube, but what you get to do is you get to basically earn our cryptocurrency through it. Now this isn't new. We have something like this years ago with platforms like Scenario and WildSpark. But what's different about BitcoinMYK integrating this is the deflationary quality of the cryptocurrency. It's probably going to end up having the lowest inflationary rate probably in most of all cryptocurrency. And because of that, you know, you're talking about like close to 99% of the supply probably being reduced. Burned off at some point. So, um, you know, in looking at it that way, uh, I think there's going to be a lot better situation. And, uh, you know, so to use it, just going to demonstrate it real quick. All you have to do is hit earn watching videos. Let's see if it'll let me work on this browser because this, uh, this is my full screen browser. It may not let me do it on this. Oh, it looks like it's trying. Okay, so it's probably gonna load up and let me do that. Um, okay, that's great because, uh, for some reason this, uh, my full screen recording browser, sometimes it doesn't let me access certain features, uh, on sites, but it seems this will. So, okay, so let me show you. So you'll see a video selection, all your favorite— some of your favorite videos on YouTube. Um, um, that you're able to watch movie trailers, educational materials, and people from the cryptocurrency space. What they do is they can add their video to the catalog here, right, from YouTube, right? So all you do is come down here once you watch your videos and you claim. You have to have a wallet with us. They're very easy to get. They only take a bit, about a minute. You can get them on memo.cash. right? We have a gateway where we can send the cryptocurrency from different place to different place. But when you play a video, you basically log the videos that you watch and the system will then credit you the cryptocurrency, right? And so we believe that's going to end up being part of what's going to be necessary to, uh, you know, basically get us to the point we need to be in a massive mass adoption-like setting, right? Scoop, do you realize where we are? So we believe it's gonna have to be something like that, and it's as simple as that, guys. I think, um, we're gonna start to have to really take a look at what causes mass adoption, uh, what people are gonna really find useful. We know that people, as we can see from the statistics, or 5 billion people are watching videos on YouTube a day. That's like the whole world. right? So we feel like we should start there. Uh, the cryptocurrency is given out free to people. It is a freemium service cryptocurrency. So this just means that much like how many social media platforms operate, it doesn't really need, uh, direct investors for you to— for it to— for the system to work and for it to earn money. So it's kind of similar to other, um, social media sites that kind of work on that freemium service model where you can use it at no cost yourself. So we kind of work with that, but with this deflationary quality, if you are an investor in it, it's probably going to end up working very well to some investors because of the, of the reduction of the inflation and the supply, um, as it works, right? So that's just something to think about when we're thinking about mass adoption of cryptocurrency, what type of cryptocurrency is going to work into the future. Also, Bitcoin MYK by its name just means that Bitcoin, the Bitcoin network, can get the cryptocurrency free, right? And because of that, much like the UBI program can give you tokens free, we're able to basically bring in that network into our network and grow more value and more use as a sound money that way. Uh, so this is a very interesting project. We can tell you that as people are joining it, they're liking it more and more. I think they like— due to that very low inflation rate, I think over the last 45 days we're up something like 1,000%, and that is because of the aggressive, uh, attack on the inflation, right? So all very interesting, some you need to be aware of, check out in your journey through the cryptocurrency space. But that's all I want to say in this video. If you like content like this Don't forget to like and subscribe, and until next time, take care.