In this video, the host first discusses Electroneum’s high inflation rate—around 9% annually—and explains why such inflation harms token price by flooding the market with sell pressure. He compares cryptocurrency inflation to fiat inflation, noting Bitcoin’s roughly 2% rate and its halving mechanism that curtails supply growth. The speaker highlights Electroneum’s recent steps to lower its inflation, suggesting the rate could fall to sub‑2% levels, which he believes would improve the coin’s price and market perception. He also warns about the legal and regulatory risks tied to large ICOs, referencing Electroneum’s $40 million raise as a potential red flag. Transitioning to his own project, BitcoinMYK, he describes it as a deflationary, freemium cryptocurrency that does not conduct an ICO; users can earn tokens for free by posting, watching videos, or receiving a universal basic income (UBI). He explains BitcoinMYK’s deflationary approach—drawing parallels to Bitcoin’s halving and token‑burn mechanisms—while emphasizing that supply reduction alone is insufficient without a solid product. The host outlines BitcoinMYK’s decentralization philosophy, arguing that true decentralization starts from a centralized point and involves distribution of wealth, development, and exchange control, aiming to avoid whale concentration. He concludes by urging viewers to consider inflation rates when evaluating crypto projects and invites them to follow his channel.
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Welcome back to the channel. I hope you're having a nice day. Exciting things happening with Electroneum. The ANON summit that they just took part in. Um, some very interesting, fantastic things came out of there. Um, I think the most important, uh, was dealing with the inflation rate of Electroneum, right? So we're gonna get right to the more exciting parts today. I know we're usually talking about, you know, the future of Electroneum, where it's going to be. But we have to deal with that inflation of Electroneum. We've constantly looked at that large supply and we've been worried about that, and now that's been heard by us and addressed. So let's talk real quick about what that means. So Electroneum, um, much like many other cryptocurrencies, very high inflationary rate. We're talking about, uh, 9% or more a year, right? Now, when you think about inflation, it's very important to think about the relationship between fiat currencies and cryptocurrencies, right? And one of the, the, the going themes is that you would be led to believe that the inflationary rate of fiat currency should be higher than cryptocurrency, but that's not necessarily true. If you can take something like Bitcoin, Bitcoin has had about twice the inflationary rate of the US dollar for all of 2019, and now getting into 2020, it's about on par with the US dollar. We're talking around 2%. Now that's very, very important because obviously if you have high inflation, that's gonna affect your prices, right? And cryptocurrency, if you have too much inflation, you're gonna have people dumping billions of tokens on your head and And it's going to be impossible for the price— every time that price tries to go back up, the inflation rate is going to knock it down. People are going to be selling and dumping those tokens on the market. And so by addressing this and coming up with ways to cut that inflation rate, Electroneum is going to be with the— I would say the quality of their product and the successes of it so far. And if I were a betting man, I would pretty much say that's going to significantly improve that price of Electroneum. Now in the beginning of this video, you see where Electroneum successfully raised $40 million, probably one of the biggest ICOs in all of cryptocurrency. There are going to be some legal issues with projects that do ICOs raising a lot of money and talking about price a lot. And so many, uh, times along the way we didn't feel that the 800-pound gorilla in the room was addressed. And the reason was, was because You know, in the cryptocurrency space, when those ICOs, initial coin offerings, are very almost synonymous with IPOs or initial public offerings, right? And you have to go through a lot of regulation to do IPOs, and ICOs kind of found ways to skirt around it. But you know, now it's not so easy to do that, and a lot of these projects that raise a lot of money will very carefully watch and could be up for some type of legal issues. So it's very important that you don't break any rules, uh, and what came out first is the Wild Wild West, uh, in cryptocurrency. Uh, but this is fantastic thinking about a 9% rate on Electroneum potentially dropping as low as Bitcoin, which is, uh, which would mean sub-2% at this point in time. Um, would be amazing. Um, and if that's the plan, it's going to look very, very well for Electroneum users. So this is very exciting, guys. Electroneum looks awesome. I think this message alone is going to cause, or could possibly cause, some big movements in Electroneum. Now it looks like the price has come down, some of it settled, but you know, markets do that. It could possibly be that Electroneum's gonna make a big turnaround, right? So inflation So very important, so very, so very important. Uh, let's just think about your other cryptocurrencies you're in, your other projects you're in. Have you calculated the annual inflation rate of these projects, right? Because if you haven't, it's gonna make it very difficult for you to gain value on these projects. And, uh, a lot of people just kind of FOMO in, they don't really pay attention to some of the economics that exists here in cryptocurrency, but There are some of us who are paying very careful attention to it, and if we're smart enough, we're avoiding highly inflationary projects. I've been involved with some, but the difference is I know how they end and oftentimes was able to get out before they got too dangerous. So if you're dealing in a cryptocurrency with high inflation, be very, very careful in that way. And saying that, want to take you over to our project BitcoinMYK. Uh, in our next segment, he'll just talk a little bit about how important inflation and deflation is in cryptocurrency and why our project, uh, was conceived along with those ideas in mind, and why I think it's starting to lead to the successes we're having in BitcoinMYK thus far. All right, we're here on the BitcoinMYK platform. The deflationary coin, right? Why is this so important? We just discussed it. If your inflationary rate gets too high, then what's going to happen is you're— it's gonna be hard for the value to go up and the price to go up. So it's very important to understand that there are several ways that this gets achieved. If you look at something like Bitcoin, they have the halving where the block rewards reduce every 4 years. Reducing the inflation rate, less money to be put on the market and dumped on our heads. And because of that, you can potentially see, you know, higher prices, right? More value in holding your Bitcoin. There are other methods. There are some people who just outright burn tokens, right? In burning tokens, it's a— it's— they kind of achieve a similar idea, but how the burn rates are calculated, um, and how the Bitcoin halving is calculated, these are, um, different animals, but they can achieve a similar goal. Look at something like how BOMB token work. It will burn against, um, transactions, right? Um, kind of interesting. Why not just start at a certain price. Um, we get asked questions like that a lot when you're dealing with deflationary projects. So the, the best way I can compare this to is if you think about a stock split, which is very legal, uh, in standard investing, uh, you can have a, uh, basically a company that splits its shares, um, into more shares. Um, and generally this is done just to make the pricing more attractive. Right? I think a cryptocurrency is kind of similar in that the supply really technically doesn't matter as much as the psychology of it. But coupled with several things working together, if it's a, if it's a good product from the conception and you happen to then address the supply, then you probably have a recipe for success. If you're just— if it's just burning and getting rid of, you no cryptocurrency, but the project itself has solved no problems, probably not gonna do anything, right? But it can be like sleight of hand, okay, with burning cryptocurrencies. They don't necessarily really mean anything now in every case. Now with us, it's a little bit different, BitcoinMYK, because we didn't do an ICO. Basically, we work on a freemium service, which means if you kind of were to liken us to your standard social media sites, you use Facebook, you use Twitter, but you're able to partake of these services absolutely free, enjoy them, and don't have to spend any money up front. All right, so we call these freemium services, so to speak. Yet you can look at these projects, they're worth uh, billions of dollars, right? Half trillion dollars. So, um, that basically lets us know that there doesn't have to be a direct monetary transaction for there to be value in a project. And so we've taken all these many things and we've created Bitcoin MYK, which also then gives, uh, ratio-wise to Bitcoin holders, right? So This is a cryptocurrency that works on that freemium model, and it works with deflation, where a person can get in, they can get the cryptocurrency for free, they can use our services for free. There are no ICOs, everything is fully funded by BitcoinMYK, and, uh, so no investor had to put up any money or anything like that. Uh, and because of this, um, it, I believe, puts the project in a very good light in a situation where you're able to try it without putting a risk on you. All the risks are on us. And, uh, right, if you gain value from it, very good, right? You've done well. Um, and there are things you can do. You can post on it and earn the cryptocurrency. You can watch videos and earn it, or you could just apply for the UBI and, uh, get the cryptocurrency. Now the next part is a lot of people say, well, Um, what about the decentralization and decentralization and the involvement in the, in the project? Uh, you're one of the founders. How does this work? Well, we believe that decentralization, the idea of it, it all starts from a point of centralization and never moves to decentralization, right? We believe that we can become the most decentralized cryptocurrency in the entire space simply because of the categories of decentralization aren't just, uh, geared towards servers that are segregated. It's also dealing with exchanges, development, decentralization of wealth. And we believe we can distribute enough of this cryptocurrency free, um, and give our part to the Bitcoin, uh, community to make it, so that, it is, it does become more decentralized and controlled on a level unlike many other coins that rely on, concentrated power in the wealth of whales or the development teams, right? We won't have any of those issues with Bitcoin and YK as the system is already complete. People are already receiving their cryptocurrency absolutely free. And so, uh, we think it opens up a very good opportunity, uh, for a lot of people. So we're very excited about, uh, BitcoinMYK, very excited about Electroneum addressing its inflation. And, uh, this is a great time for cryptocurrency if I think you're picking the right projects, getting involved in the, in the, um, right coins at the right time, and just really good projects. And I think we can really see who the really good projects are, can't we? But that's all I want to say in this video, guys. If you like content like this, don't forget to like and subscribe. And until next time, take care.
