Electroneum - Why Scams Outperform Good Projects?/ Btcmyk Breaks $1!

Welcome back to the channel. I hope you're having a great day. So today we want to talk about Electroneum, the great success that Electroneum is having. But why is it that scams seemingly outperform, uh, good projects like Electroneum and many others? And in some, uh, sense, I think the answer are probably quite obvious, but we're going to try to figure out some of the reasons why scams in cryptocurrency do so well, uh, over and over again and leave people holding the bag and discourage people from joining the space. Um, but yet they persist. And we're going to talk a little bit about Bitcoin MYK breaking $1. We're with its deflationary model. So, you know, first I think I would— we'd have to start at why is it that scams perform very well over good projects like Electroneum, over many cryptocurrencies. We had BitConnect, I believe, break the top 10. Uh, we've had many of these DeFi pyramid Ponzi schemes, um, many in the top 100 cryptocurrencies and so on. I think the first thing, place we would start at is we would have to look at, um, we would have to look at, uh, the store value idea of cryptocurrency. I, I think, you know, starting from the genesis of cryptocurrency, that some believe that Bitcoin, in finding out that there was problems with it being a currency, uh, currencies generally typically being, you know, very useful, um, measures of value people use to, to as a medium of trade every day. Wasn't going to work with Bitcoin. So they devised the idea of store of value with Bitcoin, in which Bitcoin would just be this highly speculative device. The venture capitalists could get their money back and so on and so forth, right? And this is very important because that sets up, I think, the start of many, or at least the atmosphere of how scams start to gain their power in cryptocurrency. Um, I think the next part is what I would call the midnight infomercial, the get-rich-quick scheme, right? That this— that has worked since the beginning of time, right? So a cryptocurrency has always push that, that idea of getting rich quick, you know, overnight and so on and so forth. Now all these things are quite relational to scams as well, and generally people get scammed because these scammers are able to prey on their desires to get out of desperate situations, make money very quickly. And these people, uh, oftentimes they suspend reality, right? The too good to be true becomes, um, painfully obvious. But I think with Electroneum, it— the feel of it is a lot more, I think, uh, in line with how, uh, growth works and investment works and value works. And these are things that germinate, right, over time. And they grow over time, and it's not this crazy freakish, you know, million percent return overnight stuff, right? And so Electroneum, uh, because it isn't that, because it's a real company with a real future and the real hiccups of, of what you go through that in the first years, in the first phases of your projects, are what allows scams to not only perform better in cryptocurrency but to attract more people because, uh, because of the beginning of the space, it has indoctrinated a lot of people into that type of mindset, right? And so these people now don't know how to look at things any other way other than that, uh, and so when they look at projects, there's the measuring stick is in relation to that, right? The idea of projecting out a 5-year plan of what their investments are going to look like in the future, uh, doesn't cross many of their minds, um, how the space has presented opportunity to them, be it false, be unsustainable, uh, be it products that uh, haven't shown a true use case, right? So this makes it easier for these other projects to succeed quicker, right? Faster, because of, um, you know, these, um, these— this, this opportunity, this so-called opportunity that in a very short period of time Right? People like, uh, big profits, but what's better than big profits? Fast returns and big profits, right? Most of the time doesn't work like that. If it is, it's usually some type of illegal activity or illegal project or illegal loan or something or another, but they still would like to believe it's something else. Right. So Electroneum coming soon, they're going to be doing the, uh, management team of learning with the Taskool.com in the beta. And if you don't know what the Taskool is, right, it is the opposite end of the AnyTask system. If, if you're going to use a platform, uh, where you're going to, people globally are going to have this use case to, uh, trade their skills and labor, um, for electronium, right, to transmit this value across the globe. Um, you know, there, uh, kind of is this natural, uh, uh, situation between training people to be able to learn more skills and to create more value. Because what happens is It's quite interesting, and I think it's a great direction. What happens is, um, when we go back to how Electroneum first started with the airdrops, right, every month, a lot of people push back against that. A lot of people have problems against that, and I'm going to tell you exactly why that is. Because we've grown up in these very old 20th century capitalistic models, and in these models there has to be an equal value transfer reciprocal, right, um, to what we see in the aggregate form of money. As to say, if a person's holding €500 or $500, and you have a person maybe in a developing nation who is holding maybe a tenth of that or fractions of tenths of that, but they have a skill or they have a talent or something of value that equals out to that €500 or that $500. It's become quite difficult for us in the West to understand that there can be other ways to transfer value and money other than the direct, the direct currency approach, right? So when a lot of this money was going out from Electroneum to people growing that network, a lot of people were like, oh, you're, you know, you're tanking the price, and so on and so forth, that the people that are getting the money, they aren't investors. But they were wrong, right? Because now these people are not only invest in their skills, which is creating more money, introducing new money into the electronic economy, there is now this TAS worker school that's going to educate them and create even more money and more value. It's almost like mining, right? In a, you know, creating this new money out of someplace. And it's a very interesting model, very exciting to see, um, different approaches to solving a problem. Because the sad thing— part about cryptocurrency is that with some of the most advanced technology in the world, whereas we could be coming up with new, better models, new ways of doing things, uh, which is what I believe the purpose of blockchain technology is, we are mimicking and modeling the economy we've come from, right? And it's even worse than that because we can't find utility for these cryptocurrency projects for the most part. So oftentimes we still end up building some type of gambling slot machine system, which is just more speculation and just more moving money and, and, uh, not creating new money, not creating new value, not creating growth in a prosperous economy, right? And this is very difficult especially for new people coming in here, and a lot of people who've been here, uh, since the beginning who still don't seem to get it, that modeling this after existing economic systems that are on the verge of collapse or, uh, are about to implode, or that was attempted and failed already, um, is not a good idea, right? So Electroneum's doing a good job. They're still pursuing the Binance listing, which, you know, I commented on that on videos further, that if Binance doesn't see by now Electroneum is a good product they should just list free of charge at that, then, um, you know, it— I can only say that there's a— there seems to be a, uh, structure, some type of hierarchical structure in cryptocurrency that keeps cryptocurrency down, right, and enriches a few at the top. And that's been going on forever. And, uh, cryptocurrency is going to have to grow a more vast economy in order if it wants to attract, uh you know, a lot more of the players who are going to be looking for a lot of money, new money coming into this. So a lot's going to have to change. And they're talking about, uh, wallet, further wallet integrations into other projects. Interesting, interesting enough, uh, they're involved with the Splinterlands game, which occurs on the Steam and Hive blockchain, right? And, um, BitcoinMYK, our project, actually the Splinterlands cryptocurrency and BitcoinMYK trades on the same exchange, which is very interesting. And which is where we're lead off to now just speaking about what happened with BitcoinMYK. It has, after a year of heavy inflation, to a great reduce in that inflationary rate, broke over $1. All right, so here on the Steam Engine Exchange, uh, our project BitcoinMYK has broken over $1. And so very interesting enough, we've been hearing a lot about Electroneum integration, uh, into many other applications. Um, and, um, Splinterlands is one of them. Now, if you're familiar with Splinter Games, it's one of these, uh, card games, uh, trading card games like, you know, Magic: The Gathering, like many of these Ethereum card trading games. And this is a popular one on the Steam and Hive engine, um, or Steam and Hive blockchain, right? Um, Epix, uh, you probably heard of that as well. Epix is the Uh, basically it's like Instagram, right? It was a lot of, uh, hype around Epics and, um, uh, quite a very, very beautiful looking, um, application. And it's like Instagram, I guess you can say. And, uh, I'm not sure what these other cryptocurrencies are. These seems to be the top 5 I'm looking at now. And of course Bitcoin MYK, our project that I'm very proud of, is one of them. Now What's so amazing about us going to breaking a dollar like this, which, which it does surprise me, but I don't think we have the value of a dollar. I think it's very highly overvalued at this point in time. Now explain real quickly why, but Bitcoin MYK is a universal basic income project. Why a universal basic income project that uses Bitcoin to pay for it, right? Well, the reason that is, is because if we look at the state of affairs we're in now, we're in a global pandemic. We have automation looming on the horizon. Horizon. And so a lot of people have now become open to ideas like universal basic income, right? I think it's one of the best uses of the blockchain. And I think there's going to be a future economic model that most of us are going to use, right? It has social media attached to it, social media, social network attached to it. And so it acts and behaves a great deal like maybe like Facebook Libra coin would have done. So why is universal basic income so important to cryptocurrency? Well, First of all, this spills off mass adoption. You know, the bottom line is I don't believe people are going to care enough about cryptocurrency, many of these projects, to get involved. I don't think they're going to be incentivized to do so. Um, and, uh, but I think they're going to care about their own personal economic situations, the global situation, their families. And I think they're going to be able to relate to universal basic income, seeing that most of the world has received some form of it, especially after this global pandemic, right? But what's so unique about Bitcoin MYK as well is its ability to manage and balance inflation, right? And inflation goes so lower, lower than the US dollar, lower than Bitcoin. And this is why, what it allows for these explosive rises in value. What's also very impressive about Bitcoin, okay, it's a free coin, right? You can earn as much Bitcoin MYK free as buying or purchasing it, which is something that we don't focus a lot on because it works on the proof of growth model, formerly known as the proof participation model, but we switched to proof of growth, meaning we should be able to justify and substantiate the value. And so that's why I believe $1 is overvalued. But some of our analysis has showed that around $0.03 with the amount of accounts we have through the social network portion, that we could see it being at a value of about 3 cents. And so, you know, this is well above it, so you should be careful. We're not one of these scam projects, pump and dump projects. So we tell people, hey, we think this is overvalued at this point in time. You know, 3 cents makes sense because of the account values associated with BitcoinMYK. There are thousands of accounts on BitcoinMYK It is probably one of the most fastest growing cryptocurrency projects as far as use in people. And what happens when you have millions of people globally using your cryptocurrency? You're able to make global remittance payments around the world. Quite useful. The other interesting thing is it's a multi-chain. It's on Bitcoin Cash, right, on the Bitcoin Cash blockchain. It's on several others, on Bitcoin Satoshi Vision, it's, uh, on the Steem blockchain, it's blockchains, on Waves blockchain, and you can inter-trade these crypto— this cryptocurrency. It's the same supply on every one. You can move it from chain to chain. Now, what's so special about Bitcoin MYK, even though its main purpose is to be one of the most distributed cryptocurrencies out there, but what's so interesting about it is that to handle the defla— inflation rate So that is a currency where you're not losing money. We have a built-in halving system, so to speak, right? Well, it's not a halving system, but it works similar to Bitcoin halving. And where a lot of people are trying to understand why did there need to be halvings in Bitcoin, some believe it was just to make the price grow up, go up, right? It was programmed in to do that. And it's a very interesting question. Why is that there? Why does Bitcoin due to halving. But we have something similar, works in reverse. It reduces supply based on changes in a formula that is on ratio of transactions. And so because of that, and the inflation rate is getting lower and lower, and first year was the highest part of it, and millions of our coins go out free in UBI every month, millions. And that's why it's so amazing for us to break over $1 simply because people have so much of our cryptocurrency free issue, create a lot of downward selling pressure. And yet we've endured getting through that first year of a high inflation rate and now finally hitting the dollar. Now, I don't think it will hold, but it will still be a tremendous return from where we've come from. Another thing you have to understand about Bitcoin MYK project is in order to avoid being a security We aim to be the best distributed model. Now, from what I understand about security law, a lot of what makes you a security has to do with the distribution. If a lot of people are using you, if everybody holds the cryptocurrency— we give ours away free, so how can they not— it makes it less likely to be a security, believe it or not, right? It makes it harder for it to be a security when it works on a freemium service model like ours. It makes it difficult to do that. Now, there is a secondary market third-party people could trade whatever they want, like any currency they would do, would want, or local currency or local token, which is actually legal. You can have these things, um, and trade a token or whatever in your local communities, right? At least in the United States you can, from my, my legal understanding is correct, and I believe it is. Um, but, uh, um, you know, security is something else. Securities are probably 90% of cryptocurrency market. We don't believe we're one. We would challenge, uh, anybody who said we were, you know, in those things. But very proud of what's happening here. We'd invite you all to get involved. BitcoinMYK, we think it has the best tokenomics in cryptocurrency. I think it's doing fantastic. We're very proud of, uh, how we've set it up and, uh, the accounts we've gained. And we believe BitcoinMYK will do very well in the future. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe. Don't forget to join BitcoinMYK. We'll leave links in the description. You can join today absolutely free, freemium service. Don't worry about bringing any cash. Bring yourself. This is the 21st century and we're now creating new economic models beyond the old outdated models that seem to implode and be destroyed every decade or so anyway. So let's try something different here. But anyway, as always, take care of yourselves and each other. Goodbye.