Electroneum - Still More Valuable Than Bitcoin

And still, and still. Welcome back. So Electroneum still more valuable than Bitcoin. So at this point, you know, I know some people are saying, well, yeah, education, entertainment, he's lost it. He's really went off the rails with this. Uh, earlier had made a prediction that Bitcoin was gonna pull back all the way to $4,000 to $3,000 to maybe even $1,800. So a lot of people say that is crazy, that is ridiculous. So let's talk about that today. Let's, let's talk about how is it that I come up with what some may perceive to be the most outlandish, if not outrageous, uh, uh, predictions and views on Bitcoin, uh, in relation to Electroneum even, um, with its severe price declines as we've seen, uh, going very, very, very, very low, uh, still being considered, in my opinion, more valuable than Bitcoin. So to explore those predictions I had, well, I had made, well, first of all, they weren't really my predictions. It came from people who I believe do better technical analysis than I do. People like Tone Vays, people like Richard Hart, who've made some, some calls that have been proven to be true, that they've been able to make great technical analysis calls. And a lot of information I was quoting came from them. Now, I think where a lot of confusion had come from as well is a lot of people didn't pay attention to the part where you know, that this would be over a course of about several weeks where Bitcoin could reach near $6,000. But then when it pulled back, we're looking at ranges between $4,200 and $3,200. Right. And that comes from people who make some real good calls on technical analysis. Right. Now, technical analysis is one, one thing. I call it the pseudoscience. But technical analysis, when that data is compared to fundamental analysis, right? And you see the comparison of this data is bearish. Then that's when TA is no longer so much a pseudoscience, but, you know, starting to, to become more like, uh, an eventuality. Uh, and so that's where we're at with that. Now, the problem with all of that is this. Um, as I look back on, uh, when I first got to crypto, going on about 2 years now, um, I recall the price of Bitcoin was at $4,000. $4,000, right? So imagine I'm holding on to Bitcoin from that point, $4,000, that buy-in when I first got into crypto, holding on to Bitcoin. And over the next few weeks, we see a Bitcoin at $4,200 to $3,200, right? With— you imagine what I would be looking at as far as my profit potential and return on that. And that's been the issue with Bitcoin, right? Bitcoin's been this process of taking a step forward and two steps back, in my opinion. And again, that is because I feel like Bitcoin lacks the demand to do even a small fraction of the things that a lot of people have predicted. So what am I saying then? Am I anti-crypto? No, absolutely not. I'm very, very pro-crypto. So, so pro-crypto that I've created my own cryptocurrency, BitcoinMYK, as many of you all know who watch the channel. So let's talk about then, how is it that Electroneum somehow still ends up more valuable than Bitcoin. So we're going to explain it and how that works. Interesting enough, was listening to Andreas Antonopoulos last night. A lot of people who are Bitcoin maximalists love Andreas Antonopoulos. He is— I love listening to Andreas because he's one of those people who he understands the importance of the details. Right? Because they say the devil is in the details, right? Everything is in the details. So he's very intricate when he goes into explaining how exactly Bitcoin is, how it works, and what it is. Uh, and so some people got upset when, you know, as he spoke about how he wrote the book Mastering Bitcoin, and then he went on later, not very long ago, to write the book Mastering Ethereum. So a lot of Bitcoin maximalists didn't like that because they didn't want him to talk about Ethereum. Right? But the thing is, you know, he goes into detail about helping people to understand the difference between blockchain technology and the cryptocurrencies that exist on it, right? That Bitcoin is not blockchain technology, right? Cryptocurrency would be like email to the internet, right? Be like, uh, uh, like many, uh, or Facebook or something like that, but it would not be a blockchain technology, right? And so getting back to why Electroneum is more valuable than Bitcoin is very simple, and it goes something like this. During that lecture with Andreas Antonopoulos, he talked about many of the negative results of using decentralized technology, right? That decentralized technology was slower. It was a lot more inconvenient than what you would get with something that maybe wasn't decentralized or maybe wasn't quite as decentralized. And what I'm going to say from this point on, you need to pay close attention to what I'm saying here. So am I saying that decentralization is the problem? No, not exactly. Not exactly that decentralization is the problem per se. But Andreas Antonopoulos goes on to say all of these setbacks with decentralization and why mass adoption hasn't happened and why people, the demand for Bitcoin isn't there as much as it should be because people at this stage of the game aren't willing to so much give away their, those conveniences of what we get with more centralized systems to the point they're willing to take total freedom in the idea of nobody controlling, no centralized authority controlling the networks or the money or what have you. Uh, and so because of that, this has been part of the setback, right, in the lack of mass adoption as well. Uh, so a few, a few, uh, ideas got mentioned. One was decentralization, the other was centralization, because generally in the cryptocurrency space we tend to go one or the other. But there was brought up a third option, which we hear a lot with Electroneum. And what is that? Hybrid, right? Hybrid. This kind of mix, uh, where cryptocurrency or blockchain technology versus this type of mix, this hybrid that is able to capture many of the great aspects of cryptocurrency and blockchain technology, yet hand over some of those conveniences to the people who use the technology. And what we get with Electroneum— excuse me— what we get with Electroneum is that exactly, this hybrid, right? So how does that work? Well, what happens with a hybrid situation where you have a group that is kind of a mix of this centralization and decentralization, where there is incentive to push this product and market for this product. So in looking at the value, the core value of Electroneum, Electroneum has a system right? And we're not talking about how successful it's been or if it'll ever be that successful, because first what we need to understand is concepts, right? If you don't have the proper concept from the start of your project, then you're not going to ever really have an end-of-the-road successful scenario because your project and your concept's going to only go as far as it's designed to go. Right? So how you structure your project from the very beginning is going to tell the entire story of how it ends up or how it doesn't end up. So Electroneum in comparison to Bitcoin, let's look at Bitcoin in comparison. So Bitcoin, uh, if we go back 10 years ago now, 10 years now. What we're basically looking at is we're looking at potentially the next evolution of money. Mankind's— one of mankind's greatest inventions. Blockchain technology would have to probably go down in history like, uh, aviation, the printing press, the internet. Blockchain technology has to be in there. But you're looking at one of mankind's greatest inventions And in over 10 years, it's, uh, uh, got less than 50 million wallets in Bitcoin. Now, comparably to the internet, you don't get numbers like that. I'm sure that 10 years of the internet, you get a great deal more, you know, users, uh, in that space, right? And that's not happening with Bitcoin. And it's due to the nature of the pure decentralization of Bitcoin, in idea at least, right? And that is there's nobody at the head. There's no need to market for it. There's no need to push it. There's no, you know, there's no incentive. So going back to the concept of Electroneum, Electroneum, the way it's designed and structured, it is quite possible for Electroneum to go to, you know, to get 3 million to 10 million wallets to 20 million wallets, 30 million wallets to 100 million wallets, right? With people using this cryptocurrency. I'm not saying Electroneum is gonna do that, but I'm saying the concept of Electroneum itself makes it more valuable to Bitcoin when you look at these factors. And so because it has the ability at the very least to do that, it can outperform Bitcoin, right? I'm not incentivized to market for Bitcoin. There's really no demand for me to use Bitcoin. I don't really need to go out. It's, I, I, I, I, it is much more likely that I would pick up a mobile application and download an Electroneum wallet and use something like Electroneum. It doesn't have to be Electroneum. Again, we're just talking about the concept. Than I would do that for something like Bitcoin, right? So there, without that incentive to, for the use of Bitcoin, then the mass adoption of Bitcoin is gonna be limited to how fast it grows. And which is why over the course of 10 years and a great deal of notoriety, and even with good branding, Bitcoin still hasn't been able to surpass those 50 million wallets. In fact, it's more likely it's probably more like 20 or 30 million wallets because we know many people have several Bitcoin wallets. Um, and so these are, these are some major issues with, with Bitcoin. So it's not Bitcoin, it's blockchain. Now let's, let me clarify what I mean by that. In my particular situation, being in the West and using blockchain technology, right? Let's identify what's going to be more important to me, right? So let's run this scenario. There is a cryptocurrency out there I like a lot. It's called Singularity.net, started by Ben Gersell. Who is probably one of the smartest people on the planet, right? Does the Sophia robot. He works in robotics, uh, chief engineer, I believe, for Hanson Robotics, now the CEO of Singularity.net. Um, now Singularity.net uses blockchain technology to stop the potential crises of a nation obtaining a super AI system that can calculate and do things we can't fathom as of yet. So that basically means that a company like Singularity.net would be doing something of actual use to everybody with blockchain technology in the country, right? And every perspective countries who has that danger, which is all of them, because we don't know what a super AI would mean. It could be the difference between making one nation a superpower over the other, or even controlling the entire world, right? And, and, and that's becoming more reality every day. And something like blockchain technology can stop that. Now, in the West, that's more important to me than, uh, trying to send you a cryptocurrency payment, right? I don't really have to do that. I'm actually quite satisfied with my banking. Uh, I'm not some idealist about you know, what happens when the government crumbles because we are the government, right? To a great degree, we still are the government, but we need to be able to use the technology as the people, uh, in order to, uh, protect ourselves and make our lives better. Um, so the concept of something like that to me is more valuable than Bitcoin. There's a lot of projects I think more valuable than Bitcoin besides Electroneum. Singularity.net and my project BitcoinMYK, um, which gets everything right. But, uh, we'll save that for a little bit down the road. We're talking about Electroneum now. So are you, are you starting to see though what the, what I'm saying with this? The concept first, having this concept first, the concept to the demand, who's going to need to use this, why they need to use it. Because again, Bitcoin is not blockchain, right? There is Bitcoin cryptocurrency and we're not doing anything with it. You know, sitting around, it's behaving, it's supposed to act like gold. We're speculating on, we're hoping that based on branding alone, uh, alone, that Bitcoin will be able to go up in value, right? Because that's all it is, is just branding. It's the same branding that's in place with Facebook. You know, I can take something like Facebook and go, well, Facebook is a social network technology that everybody's using right now, but there are so many clone versions of Facebook. There are so many, uh, versions people create of Facebook that's better, that's more private, that, uh, people make money off of it. Uh, they get to keep their own data and they keep their gain value from being part of that network. And there's just so many versions of Facebook-like technology that, uh, many could raise the argument works a great deal better than Facebook. But what keeps Facebook in the forefront? Branding. It has good branding. Uh, it generally tries to buy up everything that tries to attack it, right? So it has the money and the resources to do that. Uh, but conceptually, uh, if Facebook really doesn't work at all— besides that, you know, a lot of people hate Facebook, but they use it every day— conceptually, it doesn't work, but the branding— and that's Bitcoin. And that's how I feel about Bitcoin. Bitcoin is in that same situation. It is the same, uh, uh, uh, factor going for Bitcoin and Facebook that keeps it being this, a dominant, uh, uh, product, right? Technology. But the reality of it is Bitcoin is not really conceptually going to be mass adoptable. It just lacks everything it's going to take to do that. All right, I'm not going to get into the Lightning Network because I've done that on other videos, and there's a lot of problems with that, and we've talked about that. So with Electroneum, what's the, what's the next thing they do that I find quite interesting that makes it more valuable than Bitcoin? Well, Electroneum gives away cryptocurrency right now. You might say, well, how is that a good thing? How is giving cryptocurrency to people who probably aren't going to invest any or do anything like that? Well, most of the world that uses money has been able to get access to this money through some kind of exchange in labor or services or, or something of that, of that nature. Right. And so everybody kind of has access to money, rich or poor. You're moving your value through the money in some kind of way. So the point I'm making is by Electroneum giving out this, this free cryptocurrency every month through the airdrop or through the simulated mining, the fake mining or whatever you want to call it, refer to it, it does help with this distribution process. To move this Electroneum across the globe, right across this area. Now, a lot of us disagree with the marketing aspects of Electroneum, and but I'm not dealing with that. I'm just dealing with the concept, right? The structure, the structure, because remember, as we said in the beginning, you have to have the structure together properly before you can end up anywhere, anywhere, right? So, so they're helping to distribute and move this through a user interface that's convenient to use, that's now set up through their smartphones. And all of this is integrated together, kind of streamlined and well, so people are able to use it good and use it properly, right? And so that's what makes these things more valuable, right, than Bitcoin. They are incentivized to do this, right? Nobody's incentivized with Bitcoin, right? There isn't anybody. Every, every person who's become a billionaire from Bitcoin, I haven't heard them yet go, well, um, let's create this movie about Bitcoin. That's, um, let's create this huge marketing campaign for Bitcoin. I haven't seen anybody team up together really from the Bitcoin world to do this massive marketing drive the world has never seen before just for Bitcoin. Everybody just kind of sits back and waits for somebody else to do it, right? You don't have a situation in Bitcoin like what you would have in the Dash community, right? Where Dash, the masternode community, decided, hey, let's go down to Venezuela and single-handedly swap out the Venezuelan dollar for Dash, right? And so you get all these people using Dash, right? The Boulevard, right? They're basically switching out the Boulevard for Dash because they take Dash just as much as they take the Boulevard. They probably prefer to take Dash because Dash was able to, through a form of centralization, come together and make a decision that, hey, we're gonna go down here and do this, right? Same thing with Bitcoin Cash. That's what Bitcoin Cash plans to do, this moving into Southeast Asia and create a very simple user-friendly friendly mobile application to achieve that. So these are all gonna have more value than Bitcoin in the long run because they're gonna be able to have a type of organization and push in order to— an incentive to get things done that decentralization is not going to offer us. And that becomes, I think, more obvious to many of us as every day, right? So this is why Bitcoin— or I'm sorry, Electroneum— is more valuable than Bitcoin in these particular ways. Now, uh, going back to the distribution part, where I guess it was supposed to be like $3 a month. If the price of Electroneum's up, you're supposed to get like, uh, $3 per month. Uh, and some— it's led some people to go, well, look, um, if, um, you're giving out like $3 per month, um, then basically what you're gonna have is, um, um, uh, a lot of people getting, uh, this cryptocurrency, and it's— you're just giving out free money to poor people who, a lot of them don't have any identification probably, or banking, so they can't get, you know, uh, they, they can't go through the KYC process and all these various factors and, you know, in a variety of things like that. Uh, and, and so it leaves some people to believe then— excuse me, um, it leaves some people to believe then, um, that basically, uh, it won't work, right? Uh, because it won't work, because these people won't be able to use this effectively. And even if they can use it effectively, uh, what value is that to the network? So here's the, here's the next part people who say that need to understand about this, right? And so, um, I'm going to basically interchange the idea of what Electroneum does with their their, their airdrops and simulated mining to what BitcoinMYK does with unclaimed Bitcoin holder tokens, uh, in their, um, uh, that go to fund our universal basic income program. In, in other words, when Bitcoin holders don't claim their Bitcoin tokens, we recirculate it back through the system and we give it to, uh, people. And any— it's eligible for everybody can claim them through our universal basic income program. And so this is very close and similar to what you get, um, in IDEA with, um, Electronium in that, in that IDEA. But here's something, and here's what makes all the difference in the world, and this, this is the part we really need to pay attention to if you haven't paid attention to most of the else of what I've been saying. And that is in dealing with this distribution methods of giving out these free cryptocurrencies, trying to figure out how you get value from that. So any idea of universal basic income, these people claiming these tokens, as they get this value of this token, we have a, uh, basically a job economy, right, where you can trade your skills. So this is very much in parallel to what Electroneum does. And the reason this is also very important, guys, is because it makes sense that what you would need in that case is you would need a way to move those people's values, which is going to be skills, right? It's going to be the skills similar to what we described earlier, where people have always traded their skills for money and value. They didn't have to obtain it through purchasing it or something like that, uh, that the system they were in, they were given it when they traded for skills. And so what Electroneum plans to do with their gig economy is create a way for them to do that, moving it through Electroneum. And what Bitcoin NYK does with this universal basic income program is the same thing. As the people come in and claim their UBI, they're not just deadbeats or freeloaders. A lot of these people will then have the opportunity to trade their value for the BitcoinMYK tokens, right? Through our, through our job market here that they can post their skills to totally for free, just like a Fiverr type situation. And this makes things come full circle. Now, none of these things could happen on the road to mass adoption with a product like Bitcoin, if you're following what I'm saying. Now, what's different with Bitcoin MYK and why I think Bitcoin MYK is the best model out of all of them is because I believe it does all of these things and addresses all of these problems a bit more efficient. Um, I don't think Electroneum addresses the problem as efficient as Bitcoin MYK, but here's what I do believe, that even though I, I think that it's not as efficient how Electroneum goes about it, it is still structurally more— makes more sense and, and I think will yield further better results than how the decentralization structure works. And again, please don't misunderstand me, this, this isn't an argument against decentralization because decentralization works The problem is it works in certain, uh, areas like what we, um, talked about with Singularity.net, whereas you, you want full decentralization of AI, right? But you don't want necessarily— you don't— but you may not need full decentralization necessarily completely of your money system, if that makes sense, because that is being proven to be uh, not something exactly that we want. And I, and I can explain it to you this way, um, that most people, when they lose access to their money, whether it be their passwords or what have you, and they can't get to their money, they are praying at that point they can call somebody and somebody will give them their password. They don't care if they have the freedom or not, they just want their money back. And so they're not gonna go, oh, I just lost a million dollars. You know what, But that's the, that's the game we play when we take freedom over security, right? Or we take security rather over freedom, or however you want to pose that. Um, that's not generally how it works. Now compare that to a situation with China versus the United States or some other country. You can pick whatever country you want. Comes out the blue, develops a super AI. They control that super AI. They're using that super AI now to enslave the entire world. Everybody would agree use of blockchain technology, sharing the information, and decentralizing AI in the scientific community would make a great deal more sense than having government control AI. You see what I'm saying? So in that case, this is the, this is the value of decentralization we're talking about. About, right? We're not talking about I lose my money, I lose my passwords and all that stuff necessarily, right? That's happening in a few lands at this point in time, and that's why demand is so low. Few are very oppressive regimes that are locking up people's money, that are keeping people's money, that are taking people's money, right? And not saying that that can't happen in the West, but you know, that demand isn't there either way. Right now, right? Whether it'll ever be there or not, that's something we have to talk to and get to. But the threat of super AI is very, very real. So whereas I do feel Electroneum, again, uh, is, is probably not as efficient, I would say— I would carefully use my words— say maybe in my view hasn't pursued this as efficient as some other products probably will. It is still more valuable than Bitcoin in that particular area. Um, and, uh, you know, based on all these reasons I've given before or up to now, right? Uh, with that, and so, uh, that's how I've arrived at pretty much at, you know, at all this I've said about it still being, you know, in that particular area. But, uh, you know, BitcoinNYK even goes, takes it a step further, guys. I can tell you that We are light years ahead of probably every cryptocurrency out there. And I know a lot of people say, oh, it's just education, entertainment, blowing smoke up our, you know whats again. But remember what I said at the beginning of this video. It is concept and structure that starts your product out right. And where you end up at, at the end of it is what's going to be the result and what's going to be the verdict on all of this. Universal basic income, EOS knows this, Telos knows this, is a mass adoption vehicle. 80% of the globe needs it. Not only that, we have within the United States here a presidential candidate gaining a lot of steam by the name of Andrew Yang. You can look him up, running on universal basic income. Right? Very, very smart, intelligent guy. Engineer, lawyer, all that stuff. And people are jumping behind this guy and the message is getting louder. Pay attention to what's happening around you. Do you think that's by accident? No, that's being driven by demand. Something we don't have in cryptocurrency. BitcoinNYK is on top of that. We understand that. Why do you think we're doing it? And we're going to ride that, that wave all the way to the top, right? Because that's what the people want. Bitcoin as it's structured doesn't address any of that, right? Blockchain technology addresses our problems. Electroneum addresses it to a degree. Bitcoin NYK addresses it all the way. Singularity.net addresses it all the way. Bitcoin Cash addresses it. Better than Bitcoin. And that's where we're at with this. Dash has done one of the most phenomenal jobs of this I've seen so far. But that's all I want to say in this video, guys. I'd love to hear your comments, questions, concerns about my views on this. Uh, guys, if you like content like this, don't forget to like, subscribe. Don't forget to come over to the BitcoinNYK project, get you some free BitcoinNYK. Get involved in something that's going to probably end up being a top 10 cryptocurrency, uh, which I believe it should be a number 1 cryptocurrency. It probably will end up being that by the time this is all said and done. But that's all I got in this video, guys. If you like content like this, don't forget to like, subscribe. Until next time, take care.