Electroneum - Utility Vs Speculation/BTC Crash?/Btcmyk Best Crypto?

fee the last couple of weeks. Are you concerned about income inequality?

I think with the coming on of AI and other things, that there is certainly a danger of income inequality.

Why artificial intelligence?

Why?

Because it—

what is it about the amount of jobs it's going to take away and so on?

And that's coming. You think that's going to happen?

There's no question it will. So we've got to come up with ways of, you know, creating new jobs. And but I think a basic minimum earnings for everybody so that there's nobody that is having to sleep on the street.

So guaranteed basic income or universal basic income?

100% think that's really important.

Well, there are people in this country who call that a nanny state, you know.

Some people will call it that, but I think that it will come about one day, and I think—

Out of necessity.

Out of necessity.

And that's been a part of public discourse recently. What's your view on the impact of automation, of whether we're talking about AI or more basic forms of automation on the economy in the short term and the long term? Do you have concerns about it as some do, or do you think it's overblown?

It's not overblown. I mean, it's a giant thing. It'll come at us in a very big way in the future. We're right at the edge of even really accelerating it. It's had a big impact and it will have a big impact, and it's a two-edged sword because it'll have tremendous benefits and at the same time it has profound benefits in employment and distributions of wealth because the way I think about it is there are certain things human beings can do and over time we've evolved to go to almost higher and higher levels and now we're almost like we're at this level. You know, it used to be your labor and you would then do your labor Okay, we can get past the labor, we got tractors and things, and you go up, up, up, up, up, and we're up over here and up to the point in our minds where, okay, anything related to mental processing, the computer can probably do better and we can find that. And so other than almost inventing, you're at a point where the machines and the automation will probably do it better. And that's accelerating and that's a force. Force for the good. And at the same time, what it does is it displaces people.

They came out, I think it's Pelosi and some of her peers, but it doesn't really matter who it is, is now proposing the idea of folks getting a digital wallet and receiving these UBI payments potentially through a digital dollar. What do you kind of take from, uh, from this whole idea of everyone hates Libra and Bitcoin, you know, 12 months ago to now we're talking about potentially paying UBI via a digital dollar into a digital wallet?

To me, it sounds like they're speeding up the adoption of Bitcoin. I mean, think about it, you're going to have immediate clearance of transactions into Bitcoin.

So before Hey you, welcome back to the channel. I hope you're having a great day. So today I want to talk a little bit about Electroneum in relation to Bitcoin a bit. We want to talk utility versus speculation, right? So what we've witnessed with Bitcoin over the last week or so is it's just run up tremendously. Now a lot of this started, it would seem, with an announcement from PayPal now accepting Bitcoin, right? And some other cryptocurrencies where people are going to be able to— there are over 300 vendor services are going to be able to trade Bitcoin through PayPal, right? And this kind of set the catalyst. So it was the catalyst for this huge run-up. Um, but in focusing on utility a bit, when we're talking about utility, we're talking about, uh, you know, of course these cryptocurrencies being actually utilized, you know, in a significant way, um, where people find value and use in them. It is a use case, right? Um, and when we think of, um, in relation to, uh, Bitcoin We're generally looking at what they're terming as a digital gold. This is a store of value asset class. But the most utilized of asset classes seem to be currencies like the euro, the US dollar. You know, this is what gets traded more so than not. And one big issue, if we look at something like goal was that it wasn't enough of it to go around. So it, for to, to use as a tool of economic prosperity was good going back to antiquity and, and, and going into the 20th century and so on and so forth. Right. But looking at what's happening with Electronium and this is kind of interesting. Electronium, of course, we, we know that with the partnerships with the mobile operators, being able to top up minutes from smart devices, right? Being able to pay utility bills and there being this situation where they're gaining this free extra Electroneum in some cases from paying their utility bills with, Electroneum, or whereas they're paying, they're purchasing their phone minutes with Electroneum. Whereas in some cases, depending on the land, if it was a developing nation, in some cases they were probably trading these minutes for bread and milk and some of the necessities. And so it followed this normal use case that why not just make this, put this, make this mobile wallet part of your smart device that you're more likely have. And use the smart device to be able to, you know, basically now trade electronic, whereas before you were trading your phone minutes and so on and so forth, right? It just follows this natural evolution of why you wanna do this. All this, of course, being able to top up the minutes equals use, utility, everyday use, right, in certain places. But what do we get in the West with a product like Bitcoin? Well, we don't get much use, do we? It would seem this has become a game for institutions, right? And that the institutions and the big companies and the big conglomerates, a lot of big cheeses that in some ways or shape or form or of another have kind of pushed the little guy out even from the mining and so on and so forth. Although the means justifying, or the end justifying the means, uh, we end up with, uh, well, this pushes to more mass, massive adopted, uh, Bitcoin cryptocurrency, so it drives the price up, right? At the end of the day, which one of these approaches are going to be the more secure, for lack of a better word, right? Which one would you want to bet on, right? Would you want to bet on something that people are using every day and finding use in, or would you rather bet on something that is well branded, as well marketed, that is well known, that, um, is now, uh, basically taken over By the Grayscales, as it were. Taken over by major entities, corporations, and syndicates globally that are, you know, owning over 2% of Bitcoin, owning over 5% of Bitcoin, and maybe owning 10% or more Bitcoin, right? These are matters of concern. Evidently. But, um, you know, there's also the issue of when we consider utility versus speculation, right? What I call the casino is, um, looking at the future of these products and who's going to be using these products and who's going to be using these cryptocurrencies. Uh, you know, I, I've always stated that if the idea— if you're looking at something like Bitcoin and a speculative nature, it— I, I've always come to the conclusion that if it's going to be driven on speculation alone, then it's going to become— all the other factors surrounding Bitcoin are going to get amplified. Specifically, if we're looking at the millennial age, which is oftentimes now saying things like we find something like a digital currency or digital asset class, Bitcoin, much more interesting than gold, right? It— we're also in a, in a very more so, uh, aware economically, or I'm sorry, ecosystem aware millennial group, you know, as to say this is, um, a generation that's focused on climate change and green energy. Somewhere in this paradigm, I don't see Bitcoin being a favorable solution for them or option for them. Just come out that, uh, there is a connection, and I'll have to do a little bit more research on this as I was picking this up for some other cryptocurrency channels, but there is, um, now, uh, some type of, um, affiliation between Warren Buffett and Bill Gates on, um, on, on a, on a type of green energy cryptocurrency. right, that I'm not very familiar with. But, uh, we know that Warren Buffett has been quite resistant about entering into cryptocurrency, but apparently there are some affiliation or connection, uh, maybe through the Gates Foundation as it were, or something where green energy, uh, and a cryptocurrency related to it is— has now, uh, become in association with them to some degree. And, uh, you know, these are the type of cryptocurrencies I think that the millennials are going to pick. And so I don't see a continual bright future for Bitcoin despite the good branding. What I believe we're witnessing right now, and that's kind of going to— I'm kind of leading into what was going to be my next segment, you know, is Bitcoin going to crash, right? What I believe we're kind of going into now is going to be this kind of institution institutionalized dominant use of Bitcoin where you're going to have, uh, it's going to become a tool of theirs where they're gaining a large ownership of Bitcoin and they're able to increase the volume of trade, increase their books, uh, what's on the books, and, uh, basically able to take out much more volume and make a fortune off of trading Bitcoin in ranges that could be anywhere from $15,000 to $30,000 per Bitcoin. Now, I don't believe we're ever going to see a Bitcoin that's going to be like $100,000, $250,000, a quarter of the market cap of gold. I think that they've already made a ton of money and they're going to be able to control the Bitcoin value through these means and methods. And I know a lot of people dream about Bitcoin, probably don't want to hear that, but that's my assessment of what's probably going to go down. Um, so, you know, relating this all back to Electroneum, the Electroneum to me is a very, uh, as far as the environment is concerned, they're using the NGOs so they don't have all this waste of miners. Now they have these, um, NGOs, uh, basically mining. And so you got a lot less waste, right? And I believe those are going to be the future models. Models, right? You got a lot of utility where people actually need it. At the end of the day, speculative devices, I believe, that serve no purpose other than but to be speculative devices, I believe at the end of the day they're all going to show their bellies, right? And they're going to belly up. And I don't think Bitcoin is going to be an exception. I, I see a Bitcoin that's gonna outlive its branding, right? That's gonna— this brand is gonna out, you know, uh, and I, I unfortunately, I just don't see a great future for Bitcoin despite the great branding and a lot of the things that's occurred, simply because of understanding the differences between utility and speculation, right? And, uh, I just don't think speculation is going to ever win out against utility. I don't care how many people from different regions of the East like to gamble or like to trade. I just don't believe that that's going to be the end of the story right now. I want to exit this video speaking about how it began. You saw them talk about universal basic income cryptocurrencies. Why people are going to have to use, uh, universal basic income, why people are going to care about universal basic income. And BitcoinMYK is a growing universal basic income project. It's probably one of the fastest applications, um, uh, growing, uh, networks, projects in cryptocurrency, simply because a large mass of people are concerned about their futures and are concerned about what's going to happen to them when automation comes in, what's going to happen to them when a global pandemic comes in. So, you know, these are almost to me no-brainer ideas, and it's probably not going to be very likely that many cryptocurrency projects are going to, at least on scale and growth, outdo universal basic income projects. So in that sense, I believe BitcoinMYK will end up probably, if not the best, one of the best cryptocurrencies. Also, I think that it's important to understand that we do have to pull the differences apart between, as we just discussed, speculation and utility. You know, utility means that as people are moving this value back and forth, as the network grows, that there's a use to transmit this value to one another. There's the ability to do that. Speculation means Uh, you're just speculating, hoping the price will go up, right? You just want the— it doesn't necessarily have anything to do with utility. Bitcoin is a horrible currency, right? We all know that. Nobody uses it as such. And so what do we actually use it for, right? So these are things to be considered, and universal base income projects are going to be the projects that people care the most about. And, and this is not a question of if this will happen, it's just a question of when. The, the long the cryptocurrency space holds out on that, that's all they're doing, right? They're not changing the story of that or the verdict of that. They're only pushing it out to join the speculatory game of the week. But we all know deep down at the end of the day, people, a lot of people aren't going to be using these cryptocurrencies. A lot of these people aren't going to be using these Ethereum-based wallets. A lot of people are going to be using these decentralized finance systems. A lot of people just aren't going to be using any of these things because they're too complicated to understand. Their lives are too complicated to take the time to understand, and there's not enough incentive for them to join or understand. But universal basic income is a new push for— it's a social geopolitical hot topic right now. It is something that people understand. It's a term that people— it's becoming a household term. It is an idea that is important to people, and this is just how things are going to go down. with this. So BitcoinMYK, our project, we hope you join it today. Uh, we hope you, uh, really consider some of the things that you hear in our content and join, because we very much believe that this is going to be the future, and this is going to be an undeniable future, right? So this is where it's going. Um, but that's all I want to say in this video. 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