EOS - Mass Adoption - Steemit 2.0/UBI/Biometrics/BtcMyk Blockchain

Hey you all, welcome back to the channel. I hope you are having a great weekend. Exciting day today. I want to make this video even though it's the weekend because the excitement is happening today, and that has to do with EOS making a big announcement today, and it's led a lot of speculation to what that is. A lot of clues have been dropped, a lot of research has been done to narrow down what this announcement could be. What a lot of people have agreed on is it spells mass adoption for the cryptocurrency space with EOS at the helm. So we're going to talk a little bit about that today. Most people already know about this BitEOS announcement. If you don't know about it, you haven't been paying a lot of attention to what's happened in the cryptocurrency. So some of the ideas that have come up that a lot of people are pretty convinced that will be announced today is that there's going to be some version of universal basic income implemented through the EOS system. There's going to be some type of big social network, reminiscent of Steemit. There have been a lot of hints dropped about that from Dan Larimer, the UBI and the Steemit, and that there may also even be a sidechain for Bitcoin now, making the efficiency of Bitcoin even greater through the EOS system. And so this is very exciting to me. You know, if I sat down and and you were to ask him the question, how to create the perfect cryptocurrency, uh, and what would I do and what steps would I take? It is so very, uh, it's interesting, but it's also quite funny. And I think it just shows the mindsets that both Dan Larimer and I share, because I created a project, BitcoinMYK, that is almost identical to this move of what EOS is doing. And I created it pretty much just out of my own idea in mind of if I had to put together a model of how cryptocurrency will work. And here comes along EOS with the possible SAM announcement today. Very exciting. It is something I'm happy about because in my concept and in my idea I would like to create a model similar to what we're gonna possibly get here today with EOS, but I would like for most cryptocurrencies to use the same model, and I think it would spell success for the cryptocurrency space. So the idea that one of the biggest cryptocurrencies out there that I think is definitely gonna push on the number one is doing it, it brings a lot of joy to me. And I know both my project and EO is going to work great together in trying to get this pushed forward. But the reason this is so important, let's, let's go over some of the steps. Let's try to understand some of the necessary components of mass adoption, not just the mechanical parts of how blockchain technology works and the idea that you build it, that people are just going to use it, but also the psychological parameters of why people use technology to begin with. So we're going to cover a little bit of those things today, and, uh, you know, hopefully by the end of the video, for those of you all who haven't been thinking along these lines, maybe you will at least start to entertain some of these concepts. So why UBI, and why is Dan Larimer so interested in universal basic income? Why is that topic keep coming up? Why is America a country that doesn't want anything to do with any components of anything resembling socialism? It goes back to the early '50s of McCarthyism, right, where they would actually blacklist communist type ideas and people who supported them. If you were a celebrity in Hollywood or something like that, you'd be out of work. They would target you. That is the stigma and the dangerous territory of anything that has a, this very rooted socialistic idea in it, right? But it's come back around and we have a presidential candidate now by the name of Andrew Yang doing very well. With universal basic income. So, uh, there, there, if you haven't studied universal basic income, uh, this is the time to do it because the world is changing quite a bit. And many of us, or several of us, start to pick up on this, uh, several months ago, or some of us years ago, and we knew that it was coming to this point. And I, and I think we're pretty much there. You know, when we start to see our politics changing over to that, when we start to see big projects focus on that now, there are reasons for that. And these are reasons we need to pay attention to. So universal basic income, why is it so important? And why would it work so well in cryptocurrency? And what's going on with that? So let's first understand the idea of incentives. Right? There are— there is the idea of technology that people want. They use it due to need, right? They use it due to need and incentive. Um, they don't use it because it's sophisticated, if that makes sense. Uh, they use it because they need to use it. right? There have been many sophisticated gadgets built that people don't use, right? We have a jet, we had a jet years and years ago called the Concorde, supersonic jet that was a passenger plane. And, uh, you know, we had this thing back in the 1970s or so and probably prior to that, and, uh, it went out of commission, is rarely used. Uh, and the, the, the thing is it has to do with usefulness and practicality. There are many problems with the Concorde, although you would think that because it was more sophisticated and it was faster that it would, you know, be something that people would rather use. Uh, the point I'm making is it is the practicality and usefulness of something that make people use it, make people want to use it. Um, So with UBI, there is an incentive to use the product, but it's also a mass adoption vehicle because you're giving people reason to use it. Um, the problem has been also that social media is probably one of the best uses for cryptocurrency, networking through social media. And, uh, the idea of social media in the cryptocurrency space has been you, you pay to use it, right? You have to buy portions of the blockchain, you have to buy the cryptocurrency and the tokens, and you, you inject money into the system and use it that way. And that's where the value comes from. People actually have to send the money into the system to some degree and, and a variety of things. But standardized social media doesn't work that way, right? We get to use it free. Now, of course, in using it free We have to, uh, there are cons to that. You know, of course, what we've gotten with Facebook is the control of our data, uh, privacy issues. And I don't think it's just been so much about the data, the privacy issues, the advertising and all that. I think it's been just the idea that they do it in a sense without our blessings, right? Uh, we weren't asked, we didn't, we didn't get to control it, we didn't get a say in it. Right? Uh, I, I guess we forego that, say, when we register with the site and throughout their terms of services. But obviously the battle was we wanted more control of that over the years. Uh, now how much control of that, or total control of that, that, you know, that's all up to, you know, the individual. But in saying all of this, you get to use social media for free, right? So we've introduced a society where people, uh, aren't accustomed to paying to use social media. They aren't accustomed to these things. They aren't incentivized to use it, really. Um, you know, some social networks over the blockchain introduce ways to which, uh, you could earn, um, you know, money by, uh, using social media, but they generally haven't worked out well for the masses up to yet, and that's stunted the growth of these products. And so now we have Dan Larimer possibly introducing a social network coupled with UBI that is kind of taking that in reverse, right? Taking, taking what we got in cryptocurrency or more so making it similar to what we get, what we've always gotten with our social media through the normal space. However, putting all the advantages to it as well, right? Where you still have the privacy, where you don't, uh, uh, where you have control of your data and you still are able to earn on your contribution to social media through UBI. That is incentive, incentivizing people to use it. It's giving people a reason to use it. It's not just saying I built a sophisticated piece of hardware. Now you come use it because it's cool, right? Doesn't work that way. Next part has to do, has to do a lot with censorship, right? So the next concept or idea that comes up quite a bit through the process of mass adoption and people using this technology is censorship. And the idea that, you know, You know, we don't want to be censored, but we still are censored, right? We still get censored in one form or another, whether it's Bitcoin, no matter what the case is. There's been a lot of evidence and analysis done that shows different forms of censorship still occur through the cryptocurrency space. Um, and so Uh, the, the idea, or one of the, the driving ideas have been, well, people, uh, will leave a lot of social media out there because of lack of censorship. And I always give this example that I find kind of interesting. We, we had two big figures in social media, uh, Alex Jones and Jordan Peterson. Now I kind of watched both of these gentlemen and, and looked at some of the data, what happened. When they were actually kicked off major social networks, whether it was like Twitter or Facebook, YouTube. Um, and what happened was their numbers went down. Like, they go back to their websites or they go back to their— and their large fan bases didn't, uh, whilst they had the opportunity to then follow them out, they didn't do it. And so when we go by data and statistics Daryl, they— we could see they took a big hit from not being on these big social media sites. That is significant, and that is a big problem I found, in that it cut through the narrative of what is important to people is the advantages of using these, uh, huge social media networks, uh, or the advantages and the practicality of them in the them being free to use, right, and the products and services they provide. Was that more important than the censorship issue? If we go upon the data, it probably was. And so that is part of where I think initially our focus needs to be, on the usefulness and practicality of how to deal with this issue. Right, UBI does that because it obviously incentivizes the people and it helps to get you to mass adoption. Also helps EOS— EOS has a large amount of money, right? So whereas in the future, or whereas up to now, many UBI programs have not bear a lot of fruit, EOS has the capital to make this thing work. Of course, that wasn't the only hurdle to this. The next hurdle was how do you, how do you stop people from creating multiple accounts? And just the nature of human beings is if they can exploit something, many times they will. So one guy wants to get more than his fair share, he just goes and gets, creates more accounts, and he can just drain the system this way. So this is the next brilliant part of what we have possibly happening with EOS, and that is a biometric system. So, uh, Dan Larimer had been hinting that the solution was so simple, staring right in front of face— right in front of his face. And so a lot of people have figured out he's talking about biometrics, right? And a lot of the applications now part of many devices that will allow facial recognition, fingerprint scans, and a variety of things to link that person to their accounts. Now, in which that system can't be cheated. Um, this is so fantastic, guys. This is the model in my mind that we were trying to create. Now, of course, a project I'm working on which is similar, which has almost all the components of EOS, BitcoinMYK.com, doesn't have the money EOS has and doesn't have the technology. But has a lot of the core ideas and concepts that EOS has. And in some ways, it's still better in this, as you know, we've really focused on this and we haven't been limited by investors because we're self-funded projects. So we don't get steered by the big money. We can do things that we believe are more practical and useful without you know, people throwing their arms up in the air and say, well, we invested this money, you need to do it this way. But EOS is in the right direction with that, and that's all fantastic, that's all great. And that's why we're so excited to see this, because we believe it will lead to mass adoption by doing this, using these biometrics to limit the exploitation of these accounts. In our project BitcoinNYK.com, we use something called the social media verification key and a protocol called the Eldrick equation, uh, that uses a, um, a formula to deduce the idea of a person creating multiple accounts. Um, it also is then sent to higher levels of verification through an election process of people we call that we use a term called hub authority, where they determine who's who, uh, in the end. And, uh, that is a much more intimate and involved democratic process than, uh, I, I think EOS is at, at this point in time. But our whole goal and dream for our project and other projects across cryptocurrency space were to have these ideas like this all working together to find better uses and making it better for everybody. Uh, you know, and I think that what we've done in the cryptocurrency space up to now— this is just my personal view and personal opinion— is spin our wheels with a lot of projects that just aren't going to create mass adoption, don't drive people to mass adopt, don't drive people to find the clear usefulness in the projects, as they could just find something counter to that that is more practical and useful. You know, for example, in a monetary system, uh, it's just more practical and useful to use Visa, MasterCard, and the banking system than to use cryptocurrency to transfer money right now, for the most part. And that's just the facts, right? Uh, up until possibly now with what we're going to get with EOS. The next part that's so exciting about EOS is creating this Bitcoin sidechain. If Bitcoin has a sidechain that's more efficient Practically be used better as a money. It would be a lot more useful to people faster because EOS is super fast, and they will find a way to implement it similar to how our project BitcoinNYK does right now. And that would make more sense because it will make Bitcoin more useful. In my mind's eye, Bitcoin isn't adopting, it will never adopt because it's just not useful. as a money. It's not— you— it's not something people are going to use, right? And so, uh, some clever people came up with the idea that it's a store value and it doesn't have to move. It's supposed to be slow. And I think these are all just excuses to when something doesn't work properly or like it should, and people just kind of make that up, uh, and, uh, it sells the story better. And they could go on making more money and possibly manipulating things. Now EOS doesn't get everything right. There are some problems with EOS like that some people have, but I think this is a type of situation where it's going to be some give and take in this. And how that works is it's the block producers of EOS, right? The fact that we elect these block producers and they're able to then make the decisions for everybody else. Now I much like any democracy or a democratic republic, uh, you would have entrusting of your power over the people who you believe can— will do the best for the— for the network, right? In a political system, the best for the country. With EOS, it's these block producers, right? And so they can— they can do this constitution, they can make changes to the blockchain, a variety of things. Now remember Bit— a lot of people say, oh, well, if they could just change things, you know, that's why EOS is— or Bitcoin is better than EOS because, oh, you can't do that in Bitcoin. But that is not true, right? Not only does Bitcoin have inflation in it, Bitcoin can be rolled back and the ledger can be changed by the miners. It is even worse than EOS because you, you don't even elect the miners, you don't elect the developers. It is totally centralized, and this method of how EOS does it, I won't say it's the most perfect method, but it's a method that's on the right track to what I think will be, be an overall solution. At BitcoinNYK.com, everybody has an equal vote, and we elect what are called network suppliers, similar to block producers. To create and move their own, uh, move the, uh, cryptocurrency throughout the network. Uh, if you're watching this video, you're gonna get also a sneak peek into BitcoinNYK.com that other people don't even know about, and that is we start testing already for our own blockchain. So we were a universal bridge cryptocurrency similar to Bitcoin Lightning where we moved from, um, basically, um, blockchain to blockchain, so you can have that value on every blockchain. And we still do that, but we will as well now have our own blockchain, right? So we will be totally, uh, uh, uh, uh, you know, uh, independent, uh, in that way. And, uh, people will be able to mine our blocks and, and all that. So that's fantastic, coupled with many of the other things we're doing. But just making some comparisons here to why we're so excited about it and why, although our products are so similar, uh, we're very happy that they exist in this space and we want more of them. Like, like I said, if all the projects were like this, or 90% of them, we would— I think we would mass adopt faster. Uh, so another idea is that EOS, with their war chest, with all the capital and money they have, they're also developing these great wallets that are going to be very easy. Uh, they're, they're not going to even need to be private keys and all those things that have just created such a complexity in this space. It's making people not use the technology. Right? And that, that's just the way it is. Uh, the complexities of these systems and these wallets are going to hinder most of the population from not using cryptocurrency. And that's what's been happening, you know, it's, it's as clear as day, it's obvious. Uh, I don't know why we don't just admit to that, sit down and look at that as for what it is. And EOS is finding ways around that, right? They're creating this wallet now that's going to be easy, a 5th grader can use it, right? Bitcoinnyk.com, our project, again, same thought process. Although we can move from blockchain to blockchain, we've chosen only blockchains with simple wallets. The most simplest wallet out there we're part of is the Waves blockchain. A lot of people know about Waves. A lot of people love Waves and their apps because it's so easy. Their wallet, um, their wallet app because it's so easy. Uh, we use the, the Steem blockchain now because although Steem has many problems, uh, its interface is very identifiable as a social media type hub. And, uh, you know, that's awesome. That's great. So we use that, uh, and, uh, well, and, uh, it looks like next our turn is going to be EOS. We were thinking Bitcoin Cash or BitShares next, but we found that Bitcoin Cash and BitShares both have complex wallets, and Ethereum is out of the question because it has its— it is a dinosaur to where EOS is going. I believe EOS is gonna make short work of Ethereum, and I give it another year or so, it's gonna surpass Bitcoin. And it might do that in less than a year because UBI is a big deal, guys. It is the biggest deal in the world. You— do you understand what will happen if if EOS goes on a marketing campaign about giving universal basic income to the world, and they're such a large cryptocurrency, and they couple that with a social network, a Bitcoin sidechain, a biometric system to keep the exploitation from happening, uh, you know, this is not even genius-level thinking. This is just common sense thinking. About mass adoption and what happens when people are incentivized to use a product, much like people are incentivized to use social media, right? When I go use social media, again, there is no idea of I have to pay something to use it or to keep your product up afloat, right? There is no, you should be buying this to keep this working. None of that, right? If your system depends on that, it means that your system wasn't structured well or put together properly. If your system hasn't, hasn't mass adopted, it means you're doing something wrong. I believe EOS is gonna show a lot of what's being done wrong in the world. Interesting enough, I looked at some stats of early PayPal. When we think of cryptocurrency as a payment system, I know a lot of people like to think about dApps and applications and all that, that nobody uses, right? People don't use, uh, applications and dApps in record numbers over the blockchain. They hardly use them at all. But in comparison to a payment system, the numbers are higher, higher, right? So look at the early days of PayPal. You know what PayPal used to do? Uh, it has almost 300 million users now. PayPal used to take, uh, everybody that joined to give them a dollar, right? You get a dollar for just sign up, join. And then they had a, uh, a referral program. I remember that back in the early days of PayPal. You got, uh, people were incentivized to market for PayPal, and then the people who got an account, they were incentivized by getting a dollar of PayPal money. Now the word on the street is EOS is doing a— is going to follow out with a similar marketing campaign. Do you really think something like Bitcoin can hold up against that, that hasn't mass adopted in 10 years, with all of the ingenuity that's going into EOS in this plan? I can tell you right now, it won't. It won't hold up. I don't care if you're a Bitcoin maximalist and you love Bitcoin. I don't care. Your fundamentals aren't there, and they're not going to be there. Right? I don't care if you say it's a store of value. I can show you a million papers that say that that idea is utterly ridiculous. And I'm just giving it to you guys how things are. Um, I've studied money, I've studied economics, I've worked for several investment firms, I've worked for venture capitalist firms, and I can tell you that, uh, the direction that's going on in this space The idealism of developers who like to build stuff, who like to engineer stuff, is not part of the psychological makeup of human beings. Human beings don't care that you know how to build things and that you want to build things. All human beings care about, for the most part in the marketplace, is if I can use it, if it's easy to use, if it's useful to me. They don't care about philosophical ideas of freedom, of one day being an independent system. If they did, then they would have adopted the Bitcoin already if they cared about these things. Censorship— every time somebody got censored from— anytime a big figure got censored from Facebook or Twitter, we'd all leave those platforms and go over to their website. But we don't do that. Why don't we do that? Well, there's a reason we don't do that. This is a good day because this is the day that cryptocurrency gets it, and this is the day that projects like EOS and BitcoinNYK.com and whatever other cryptocurrency project follow this type model. And I, I hope and pray that most of them do, because that has sent a resounding message that this is the new way of doing things, and this is how we got to do things, and this is how we're going to mass adopt the space and change the world for the better across the globe. No more gambling applications. I'm tired. We're tired of that. That doesn't solve any of our problems. I'm better off going to Las Vegas. I can gamble just as certain there. The house is against— the chances that I could beat the house are against me anyway. No amount of decentralized programming, if you're cheating or not, is going to change those statistics. I'm more than likely still going to lose my money. It's not changing the world, right? Games are great, but software development companies like PlayStation and many others do a great job with that already. This is the turning point in cryptocurrency. This is a time to join products like EOS and BitcoinNYK.com. Now I will say this, EOS has come quite close, but it's still not as good as BitcoinNYK.com. Because why is that? Because BitcoinNYK.com is still a much more democratic process than EOS. You know, one complaint has been that EOS is not truly a decentralized blockchain, but neither is Bitcoin. And the only way that we can really get to the bare bones of this is fully democratizing this to the point everybody could participate. And the holdup for EOS right now is getting everybody EOS accounts and the complexity of getting EOS wallets and paying for EOS wallets. So this announcement today hopefully will change that, making those wallets free. They're already free with BitcoinNYK— excuse me,.com. Now the leg up BitcoinNYK.com still over EOS is that if you want to be a block producer on EOS, it would still require a great amount of technical aptitude. So their block producers are centralized. And BitcoinNYK.com, you could be a network distributor and you, you have— you could do it with zero technical aptitude, zero knowledge pretty much. And so what you've done is you've totally democratized all that. Until EOS gets to that point, they won't be better than BitcoinNYK.com. But with their war chest and value system, what they're going to do is they're going to make us take notice of projects like this that work, because EOS is going to show all the cryptocurrency space that it does work. And it will work. It will work. All that I, I put stock in, all the years I've learned about money and investments and this space, the years I've spent in the space so far I put stock in that the knowledge I have about it and the direction EOS is going, it will work. There is a reason you're looking at the screen and you see terms like biometrics, universal basic income, Steemit 2.0, and mass adoption all in the same sentence. That is not, uh, uh, by accident. And if you haven't connected the dots on this, it's time to do a little bit more research. Excited today, guys, and you all should be too. You all should be too, all you EOS holders. EOS is going to become the number one cryptocurrency. But getting EOS, make sure to get some Bitcoin on yk.com because you can get it for free. Right? There's a network. BitcoinNYK.com is a money. It's not a cryptocurrency you just go and buy and speculate on, although it does that by default. It is more about the value of the network and your value in it. And it works. So great day today. Probably one of the best days of cryptocurrency I've seen since I first got in and was just mesmerized by the cryptocurrency field. EOS will replace Bitcoin or something like it. Bitcoin will not remain the dominant cryptocurrency. It cannot. Why can't it? Because the fundamentals are totally against it, and I would debate anybody on it, and I guarantee you I will win in the end. Of that debate. But I don't think that debate's going to need to take place because I would give it about a year before EOS just surpasses Bitcoin, provided they are able to implement all these steps right now. If they create complicated wallets and complicated applications and they don't do the things that have been hinted at effectively, then it won't. But provided these things roll out, I see no reason why it won't. They're also, as I understand, going to go on a huge marketing campaign and cryptocurrency unlike ever seen before. That could mean everything from television commercials. Uh, it's crazy what we can see with this, and they got the money. I love to hear you guys' thoughts on this. Tell me also what you think this means for BitcoinNYK.com. Uh, if you're not familiar with it, uh, we're talking specifically about the democratic process in BitcoinMYK.com, um, which I think is better than EOS. But I think EOS, it's not too late for them to make changes in that direction. But I'm very glad to see where it's at right now. But guys, that's all I want to say in this video. A tremendous day today, uh, something to be happy about in cryptocurrency, a revolution, a turning point. No longer the casinos and hoping the price goes up today. Real fundamentals that make this space work. That's all I want to say in this video, guys. If you like content like this, don't forget to like, subscribe, and until next time, take care.