Electroneum - Too Perfect?/Bitcoin To Dissapear

governing policy. But here's the thing: things that are too brilliant, too good, too perfect, the, the majority mainstream hates it, right? Like, like if it burns too bright, essentially the majority of people won't allow it in their lives, right? And Andrew Yang has that. He has that threat, right?

He really Hey you, welcome back to the channel. So today I was, uh, watching this video. Um, I believe the gentleman's name is Scott Giribaldi, uh, Jabardi. If I said his name incorrect, I apologize. I'll leave a full link in the description. Um, and this particular excerpt from this video has to do with politics and the United States of America, the 2020 upcoming election. Um, and, and that's relevant because the candidate who's running, he's a big proponent of blockchain technology. Um, he is, um, uh, basically running on a universal basic income platform. Um, and our project BitcoinMYK.com has to, to do a lot with that. We understand through studying the economy that velocity of money works a great deal under the parameters of universal basic income. We see a similar thing with Electroneum and giving out the mine tokens that you get free every month. And my channel has somewhat become a little bit political due to the nature of the universal basic income and its cryptocurrency cryptocurrency president, uh, that I think is going to, uh, not only be great for, um, the future of cryptocurrency but for the world in general. Um, but specifically, I want to focus on what this gentleman was saying specifically about mainstream not liking when things burn too bright, uh, when things are just too perfect The psychosis of human beings seem to steer clear of that. Um, it's almost like that too good to be true idea, if you will. And so I guess the question I'm posing at the beginning segment of the video is, Dan, is Electroneum too good to be true? Has the way they've done things, uh, their whole system, is it too good to be true? Uh, is it too perfect, right? Uh, because it seems like they're doing everything right, but they are being rejected by the cryptocurrency space. Uh, similar to what's happening with this, uh, the comment made by this YouTuber here. Uh, and I find that, um, also very interesting. So looking at the price of Electroneum now at 0.004 of a penny, it's down almost about a full percent today, um, with all the pump that's going on. Well, of course, not the only cryptocurrency down, but, uh, well outside the 100, um, uh, top cryptocurrency range now and, and falling. Rapidly here. But fundamentally, the project itself still, uh, as far as I can ascertain, a good concept, a good project. Uh, so, so what can we attribute this to, right? Um, and I— it kind of takes me back to the this kind of philosophy of the day I got from watching that YouTuber. And that is, we have some type of condition where we're— this is my personal opinion— that we're picking cryptocurrencies that may not exactly be fundamentally sound. And I'll give you an example of what I mean. Some— I did a video a few days back where I talk about how blockchain technology is mankind's greatest invention, right? One of mankind's greatest inventions. It's in the top of mankind's greatest inventions. And I talked about one of our chief uses so far for this technology is gambling. And, uh, it is, it's, um, gambling in a full encompassing sense, right? The top applications that are being used, um, with blockchain technology, the ones that get funding, the ones that are used the most, are gambling applications for the most part. The markets themselves act in cadence with a gambling culture, right, due to the speculation and just hoping the price keeps just pumping up and pumping up and pumping up, right? It's not, it's like a traditional market where you have practical uses, where you're investing in stocks or bonds and these things are one day going to be responsible for ushering in your retirement or your kids' college tuitions and a variety of things like that. It's not that type of mentality, it seems, with cryptocurrency. Right now, crypto currency exists in the vacuum of a gambling culture, right? Um, and I think that is starting to make a lot of sense because I think that kind of connects itself to some of the choices and cryptocurrencies that we make that aren't, uh, seemingly to me based on fundamentals. But in saying all of that Um, you know, I think looking at the fundamentals, what has always been true, no matter how many boom and bust cycles you have with a cryptocurrency or, or any investment for that matter, uh, what remains true, it seems, is that when the fundamentals— the fundamentals are undeniable, right? So when those fundamentals or whatever those fundamentals are telling you, that that's gonna be the future of that, of the situation of what's gonna happen with that. And so we see something like Bitcoin right now just jump. And looking at how it's jumped in the periods of time it jumps up, many have determined that these are unnatural movements, right? Because of the timeframe they jumped. Now, it could be some organic, a lot of organic growth in that, and I'll tell you why, why I believe there is still yet organic growth in that, particularly and specifically because of the trade wars that are going on in the United States, you know, and basically what's happened in China. You know, China's locked down on people getting their money out. That's always been the case in China though, and I always thought that's always been included in the market, but understandably so with the trade wars putting pressure on Chinese businesses. Yes, this is more organic for this particular period of time, but we should be careful with that because I'm pretty certain that the Trump administration and China is gonna come to a resolution to these trade wars, and I think the fundamentals that are driving price of Bitcoin up right now. I don't think they're gonna be there after this trade war resolution is reached. I just don't think the fundamentals are there for the pump. The gambling culture we have in cryptocurrency, I don't think they make for good fundamentals on how we're picking our cryptocurrency. And so the reflection in the electronic price, I think, is a drawback to that culture of the gambling culture and not the fundamentals of what it takes to make a project work. Uh, but I am confident that Electroneum will last and will survive if they stay true to their fundamentals and keep doing what they're doing. Uh, now specifically with the price, there are many things that could be going on with it. Don't know all the details. We don't know all the details about that. It's possible that there could be a lot of downward selling pressure coming from somewhere for whatever reason. Maybe people just decided they want to exit out of Electroneum right now, uh, because, um, the time frame in which Electroneum's working is not convenient for them, and that's understandable. So that could be that, but I, I just want to impart that that doesn't change the fundamentals of the project and what it's doing, right? Uh, we also have to keep in mind that a lot of the price movement we see in cryptocurrency that we may have erroneously, uh, factored as a good sign of the project, uh, could be, uh, a large degree of wash trading and market manipulation. This happens all the time. This could be— it could be done by whales, it could be done by exchanges. And so we have to, uh, keep all that in mind that we are in very dangerous markets, right, at this point in time in cryptocurrency space. Very, very dangerous towards the investor, which kind of moves me on to my next segment, and that is speaking particularly about will Bitcoin disappear. So recently here, some information came out, came from Craig Wright, that Bitcoin will disappear due to, uh, the, uh, uh, its, its relationship to unregulated, uh, markets, exchanges, illegal activities, that nations and countries can easily shut Bitcoin down. And so some research has been done that Bitcoin's a lot easier to be shut down than a lot of us were led to believe. And that the idea behind it is that it will reach a zenith and countries will start to act, the regulations will start to roll in more and more and more, crippling projects like Bitcoin, right, due to their lack of regulation. And that the markets will become much more regulated. Now, where I do agree with Craig Wright. And of course, the, the big, uh, fiasco about him being Satoshi, whether he is or not. He found this copyright thing earlier, um, you know, uh, you know, as far as those things go, uh, to then determining who he is, I've always just pretty much put it this way, that I find it hard to believe that a secret can be kept, uh, to this degree so long. I am confident that the government, the NSA, knows who the Satoshi group is and who Satoshi really is. Um, I am, um, uh, you know, so I, so I guess the point I'm making is that I don't believe it's as big of a secret and that we are starting to get leaks and bits and pieces of who Satoshi really is now. Not saying that it's necessarily Craig Wright, uh, that they're, you know, that he is Satoshi or there, uh, he is part of a Satoshi group, but there are things I'm in agreement with him on, and that is that I do believe that regulation will start to pour in more and more to a great degree, and a lot of cryptocurrency projects are going to be crippled, and I believe Bitcoin is going to be crippled in order to clean up this, these, um, the wash trading, uh, any market manipulation. The idea that potentially one whale could come in, drop the value of Bitcoin 20%. And I'm, you know, again, I'm not trying to doom it. I'm just trying to put out information about the reality of the situation we're in and why we should focus on projects that really have uses that people actually use and not just speculation, wash trading, and using a cryptocurrency to prop up the markets, right? So, and my fear is that's what's happening with Bitcoin and a lot of other cryptocurrencies. The only cryptocurrencies that I don't think it's happening with are going to be the cryptocurrencies that have really good use cases like Singularity.net that does decentralized AI. I think it's going to be a need for decentralized exchanges to move that value back and forth, right? But there's a lot of projects that are just propped up, used for wash trading, market manipulations, and, uh, that's not going to be a solid foundation to stand on, I believe, in the future to come, right? And so you're going to need projects that really work, which is why I'm a big proponent of Bitcoin and YK. That understands economics, the velocity of money, understands that the world right now, um, 80% of the globe, uh, is in need of universal basic income, understanding velocity of money and how to move that money from person to person through a network, right? That creates more money through the vastness of it, um, and there are certain projects I tend to flock to that I see those aspects in. Electroneum has a little bit of that going, right, with how they distribute their tokens out every month, right? I think that's going to end up in the future being a winning formula for Electroneum as it's made it successful to a great degree up until this point. Uh, and again, don't know what's going on with that price. It could be a lot of things happening. It could be a lot of sell pressure coming from inside the camp or out of the camp, I don't know. But I can tell you that on paper, fundamentally, when those factors get worked out, that Electroneum could be a good product. Now, yeah, getting back to that though, the kind of projects you're gonna wanna see, you're gonna wanna see products that can mass distribute to a lot of people and there'll be a demand for people to wanna use those products. Bitcoin NYK is such a product. Uh, let's see who else might be another product. A lot of people won't like what I'm about to say next, but, uh, I have to put it out there. I am impressed with Bitcoin Cash. I can see Bitcoin Cash ushering into a great future. I know a lot of Bitcoin maximalists don't like that, but there are fundamentals in Bitcoin Cash. It working more well as a money. Being accepted through the BitPay system. Now a lot of people don't know that a lot of these partnerships that are people that accepting Bitcoin is through the BitPay system, but you can use Bitcoin Cash through the BitPay system and it's a lot more convenient. I've used it, I love to use Bitcoin Cash through the BitPay system. So a lot of the negative feedback we get about Bitcoin Cash based on the ideology that Bitcoin is the only Bitcoin and then it gets manipulated Uh, somebody can probably manipulate Bitcoin down 20% right now. Uh, I, in a situation like that, I would say, well, okay, well, if that's the case, if we're in this Wild Wild West unregulated market where you can manipulate my cryptocurrency, at least make it so it's easy for me to use, to send as a payment, to function, to have a utility. And Bitcoin Cash does that, you know, uh, whether, you know, whether people don't like it or not. But that's just the reality of my experience with it and what I see with it. And Anybody who tries Bitcoin Cash, I would recommend that you try it and then you come back, try it with the BitPay system and the BitPay debit card and the many vendors that Bitcoin Cash takes. Try it and then do it in comparison to Bitcoin and you're gonna see a huge difference, right? And also Bitcoin Cash, it's a lot of branding that's pushing it out, so it kind of has this centralized feel, yet at the same time has a pretty good decentralized feel, right, as it's, you know, in that. So projects like that going into the future that fundamentally have those foundations, I think are going to be good. Will Bitcoin disappear? I honestly don't know. My guess is somewhere in the future Bitcoin will be replaced by something, a different algorithm even, you you know, different from proof of work. Right now we think it's just proof of work and proof of stake, but the future is going to introduce some different algorithms as well. But, um, I think that's— I, I, you know, I think that's kind of where I'm at with it, guys. But, uh, yeah, I still stand behind Electroneum. It's a good project. Uh, I think it has some problems outside of the fundamentals of it, right, of the mechanism of how it works. I think it's some outside things happening, or maybe even inside their camp, with somebody possibly just dumping to no end. I don't know, but it's something going on with that, uh, that I'm not aware of. But the product itself, uh, on paper, uh, I would say it works conceptually. I would say we do still have a psychosis of a gambling culture where many of us are still coming in here gambling, uh, just gambling to get some quick money and get out. That, you know, which basically means you're not really interested in the system or the product. You just want to make some fiat, right? Because as soon as your, your value goes up in this cryptocurrency, what are you going to do? Because you're just concerned about price, that's what you're going to do anyway, right? You're going to change it for something else, or eventually change it for fiat, um, because you're not looking at the fundamentals, right? Uh, or, or the project, or the nature of what it's aiming to do. BitcoinMYK. Creating a bridge, universal bridge cryptocurrency for Bitcoin users, using that unclaimed Bitcoin MYK as universal basic income to create velocity of money and to meet mass adoption, right, in a sustainable way, in a sustainable product. We will have several hubs, some with advertising, some without advertising. right? So people will have a choice to go to those ones. Our whole thing is to be sustainable, right? We're not interested in if you like ads on the hubs or not. If you, if you don't like ads on your hub, you go to the hubs we have that don't have ads, right? We offer all these things to the, to the user. Uh, our whole thing is to be sustainable in this space and fundamentally sound and create a project that works, that really works. And not just on hype, boom and bust cycles, manipulation, and unregulation due to a lack of good distribution, which is a recipe for disaster for any cryptocurrency. But that's all I want to say in this video, guys. If you're interested in projects like BitcoinNYK, don't, uh, don't forget to, uh, check it out, read the white paper, get, uh, uh, get started with it. It works on a proof of participation model. Uh, you don't have to have any money. It's all about building the network and the value of the network. Uh, but that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, take care.