EOS Universal Resource Inheritance Vs BtcMyk UBI

Hey you, welcome back to the channel. And guys, today I want to talk about the EOS URI, which stands for Universal Resource Inheritance, versus Bitcoin MYK Universal Basic Income. So EOS had came up with the idea under Dan Larimer to use portions of their inflation to create a type of universal basic income. They have been calling it universal basic income. I'm not sure why it changed to URI, but it did. Resource inheritance. So I'm under assumption then that it's more so it's more about the resources that are available that are given from the, their annual inflation, which is a little bit different than the idea of a, um, was, it's pretty much the same, but the universal basic income, you people tend to think about that this, um, this almost entitled, entitlement to a type of basic means of living each month, whereas I think with EOs, it's more or less saying, do you know the resources that are available to out of their annual inflation to provide this living for people? And so I personally, I think they should have kept UBI, Universal Basic Income. I think it works better as a mass adoption vehicle when people hear Universal Basic Income. It's a kind of a buzz around it now, and people kind of flock to that. So I kind of got versus in the title, but the reality is I'm glad to see— excuse me, I always drop my mic too early— I'm glad to see more platforms embracing this type of universal basic income. I think it's going to be key for distribution, right? Let me put it this way, uh, after about 90% losses in cryptocurrency value, people coming in and putting their hard-earned money in and losing over 90% of it, If given two options— this, this is just me personally, this is my personal view— if given two options, if you told me that, well, the 90% of the value that was lost, um, you know, it went and it fed a whole city of people, and, and then you went, or the other thing was it went to a very small group of people and they went out and bought four Lamborghinis, um, you know, The easiest pill for me to swallow would be if the loss went to help people in, um, around the world. You think of people, places like Venezuela. You think about how, how, how much of a living can 4 Lamborghinis do for, um, do for, uh, Venezuela when they live off like, I think, $7 a month is their entire grocery bill. Think about how many Lamborghinis could, you know, one— how many people could be fed, how many families could be fed off the purchase of one Lamborghini. And this isn't like— I'm not saying this to, to, you know, create this anti-capitalist idea. I don't, I don't believe— I believe that capitalism and socialism has to work together. You know, you, you'll never encounter an advanced civilization without socialism, a highly developed socialistic system within it. It just doesn't happen. And if it did happen, it probably wouldn't be an advanced civilization. Um, and so in the versus Bitcoin MYK versus EOS URI, I just want to talk about some of the differences, the advantages, But I want everybody to walk away with the idea that the more of these programs that exist, for instance, I wouldn't care if they existed all across the blockchain. Like if everyone developed this into their platform, and I'm not saying just be a universal basic income token, but what I'm saying, if it was a way you could develop it into your project, just like EOS is doing. EOS isn't stopping business as usual. Bitcoin MYK is not stopping business as usual. We're all very capitalistic. We're all, uh, creating, uh, value, um, and distribution, but we're carving out programs that allow for even better distribution through these ideas. And I think in the end, those type platforms are going to have a better chance of understanding how mass adoption works. And the more of them, the more distribution we have, the more interest we'll have in cryptocurrency. Here's the problem, um, we're running cryptocurrency like a casino, you know. We're looking at, uh, uh, all the speculation and value running up and down and these huge margins and this volatility that is so severe no one can practically use it. But if you really think about the idea of cryptocurrency, right, the first part I think what we should have done is it should have been about laying the proper foundation. And what I mean by that is that It should have been, uh, first getting this into everybody's hands. Like, you hear these stories about people like even like Roger Ver, you know, giving away— he was just like giving away Bitcoin. Remember in the beginning, people were just giving away Bitcoin. They had Bitcoin and, you know, the Bitcoin weren't worth, you know, much of anything, and they just give them away to everybody, right? Well, they were establishing the, uh, the foundation there. They You know, you gotta— it's got to be value of value to people to hold, and it's got to be in everybody's hands. And I think cryptocurrency kind of did a bad job of laying that foundation. I think what actually ended up happening to us was that we just kind of looked at it as a gold rush, and let's just make some quick money, and let's just, you know, do things like that. And then we got this just speculative— it was just like almost similar to the gold rush. The gold rush is almost— if you think about the days of the Gold Rush, that's how it was. People would sell everything and they would put every dime they had into a parcel of land that they hoped they could find gold on. And they would get out there and they would pan for gold. And what would happen was they would, they would, um, you know, they would find out it was very little gold there, if any gold at all. And they would've went all in on this, you know, on this investment. And it's a similar thing that's happened in cryptocurrency. Instead of laying a foundation, getting the proper equipment so you can drill, so you can mine gold at a more proper level and go to the right places and then find where the gold was. So it's just these very similar things. So what I like about these type programs is there isn't any competition really. In, in, in the crypto space because we're all kind of fulfilling what I think will be ultimately good for everyone, which is mass adoption. So all these programs that incorporate this type of— what do you want to call it— universal basic income, or we're going to call it like what EOS is calling it, universal resource income or resource, resource inheritance. It kind of, to me, amounts to the same thing. And it's— and the people who are using it, I think they really understand what it's going to take for mass adoption. It's going to take more so treating this like a currency that everybody wants to use and not this speculative device in this very small pool. Because right now, guys, we don't have any buyers, right? We've speculated to high heaven and now we just don't have the buyers because we didn't understand the fundamentals of how money works. How economies work. We don't understand any of that because we have not enough economists in the space yet. We don't have enough think tanks in space other than let's create an ICO, let's build something that maybe doesn't need to be built because it creates money, you know, for the developers to build it. And so we, we've missed a lot of of important things, you know, on our course here. So how do we fix it? Well, my thoughts are what my last video series has been about, and that's using a mass adopted vehicle, focusing on this as a money that's actually used and traded, right, to vendors because it's more efficient, because it makes more sense. Focusing on a deflationary money. Because one person— I heard someone say that the easiest way to explain Bitcoin or cryptocurrency is that it's deflationary money, right? It's insurance against inflation. It's insurance against our money. It's insurance against the assets that do depreciate and are subject to taxes and government, governmental policies. And so that's where we're at with this, and this is where we're leading out. So let's look at some of the differences with URI with EOS. I know a lot of EOS fans, and again, I'm definitely a Dan Larimer fan. I think he gets crypto. I think under minds like his, we will have what we want crypto to be. But under the, um, comparison, or under the ideologies of our present-day monetary system compared to cryptocurrency, those people, those business people, those people in those mindsets are dealing with a a situation that's different, uh, and it works different. It doesn't quite work the same. It's kind of like— I don't know how many of you are familiar with quantum physics, right? But quantum physics or quantum mechanics deals with the idea of that when the physical world goes into the micro level, right? When you're dealing with very small microscopic things, particles, that although they are physical, they behave differently than things on a macro level or things on our normal scale. So I kind of look at cryptocurrency the same way. When we try to apply standard economic ideas to it, it doesn't quite work like it works in traditional, in the traditional economic, ideas. So in dealing with cryptocurrency, I think we're going to encounter things different. I think the road to mass adoption is going to be different, and I think that we may stumble upon it, and maybe some ideas like this hopefully will get us there that probably wouldn't work in a normal economy. As you know, many of us has tried some of these ideas, they don't work in a normal economy. As of yet, but that doesn't mean that they don't work in the crypto space, and out of that can grow, uh, a mass-adoptable cryptocurrency with a good foundation that people find value in. So let's look at some comparisons between EOS and Bitcoin MYK. And again, uh, if both of these could become very, very huge in the sense of running these type programs and many other tokens, that would be a good thing. This, in this particular area, this works as very good competition. But some of the differences I see is with FIRST, of course, you know, what we just earlier discussed is EOS Universal Resource Inheritance. It changed the name. We BitcoinNYK Universal Basic Income still, we're keeping that. We're keeping that because it identifies with people on the outside of cryptocurrency who we want to mass adopt in. So I think EOS should have kept that name. They didn't. I think it works within their model, but I think in mass adoption, I think they would have worked better. Uh, some other differences with EOS that are some good things is that EOS of course has a lot of money and they have a lot of value and they have a lot of users. And so their inflation creates a significant amount of value, I think, to be transmitted to into a universal basic income, uh, theme. What I think works against it is that for a mass adoption approach, EOS requires accounts to be paid for, right? And so I just don't feel like in mass adoption people are accustomed to paying for things yet, paying for accounts. A lot of programs, you know, people are accustomed to getting on the internet using a lot of stuff free, and I don't know if that registers well with them or resonates well with them. Whereas BitcoinNYK, it's absolutely free. Now when it comes to scaling and various things like that, we have some projects and some, some, some ideas about how we can, if it became too, too hard to process over the blockchain, we could use a method similar to exchanges use where we kind of, it would require a type of trust system, but it would kind of be that where we can transact business without you, without using the blockchain directly. But it's kind of like we would use the blockchain, but we could go ahead and not be congested and, and, and, um, and transfer value on our network without using the block— the congestion of the blockchain, but be able to see that the blockchain is being— is processing the orders. And we would be able to kind of sort of, uh, in an exchange type idea, like how exchanges don't actually hold your tokens, the centralized ones, but the value is there, uh, based on the value of your tokens. We could use some kind of component like that, only if it just got out of control where we couldn't handle this without having to pay for transactions and having to pay for the accounts. EOS is working on how to deal with people just coming in and making up accounts, right? And people could just do this to no end. And so how EOS is dealing with this, according to sources that say Dan Larimer has figured out a very simple way to stop, uh, this from happening, to be able to give everybody this type of, um, inherited resources, uh, without worrying about them gaming the system, um, you know, they— he says he has a way to do that and And if that's the case, that would be awesome. Now, our approach is a little bit different. Right now, we're only able to give one household our universal basic income. And so we use standard methods right now. And we're not saying it's totally secure. We hope with the advancement of technology and some other ideas we have that We don't wanna completely give out all our plans because what that does is that allows people to skate around them and further beat them. So we have some ideas on how to stop them and be able to give it out per household without people gaming us. But, and at the same time without collecting, you know, all your personal data and things like that that are gonna, you know, create problems. And we have several approaches to that, but Some of the basic, very basic, uh, frontline defenses would of course be, uh, being able to create multiple email addresses, uh, being able to monitor ISPs and IP addresses and various things that a lot of, um, uh, companies use now to stop the excess of creating multiple accounts when only one is required. So we have those basic security features as well as a few other ones we're working on that we won't go into detail about because we don't want people skating around the system. But we believe that it will be sustainable and it will, uh, do a good job at keeping people from gaming the system and not causing our value to tank or be exploited or stolen, plundered. What else are some differences between EOS and us? Well, EOS has raised a lot of money and become a juggernaut on its own within the crypto space and built up this war chest. And this is all great things. This makes it more possible for them to mass adopt, and it also makes it more possible for them to make a success of this, as this is not a new concept. Not only is it not a new concept in, in regular economies, it's not a new concept in cryptocurrency, as what we've encountered is several universal basic income tokens that don't perform well because a lot of times it's just going to come down to where's the money going to come from, and are people going to mass adopt it, are they going to know what it is, are they going to be interested enough in it, and is it going to be enough participants. What's happening with EOS is they're on a good roll because of the notoriety they built up and the value they built up under the EOS platform. That's a value of its own, and then it uses their inflation to create this, uh, this Universal Resource Inheritance. Whereas we're a little bit different. Our idea is to use Bitcoin. Because by using a Bitcoin fork, which doesn't take away the value of the Bitcoin users, ideally putting it into BitcoinNYK and our universal basic income program. Because we believe more likely Bitcoin will be the first to mass adopt. Bitcoin has, you know, weighed several times over the nearest coin in value and notoriety. Most people have heard of Bitcoin by now. You know, we wouldn't— people wouldn't have to start over if you're— you've already invested several billion dollars in Bitcoin. You will still be eligible for both our base, our universal basic income, and the BitcoinMYK coin because it would be forked from the Bitcoin you mine and already hold. And so we believe that will make it a much, you know, easier mass adoption vehicle without disrupting the system, but being able to exist within the system at the same time, being able at a high speed do transactions with Bitcoin MYK, making it a lot more feasible to use as a money, yet keep the value from Bitcoin and the growth rate from Bitcoin going. Um, what else? Um, um, I don't know, guys. I think I pretty much covered it, covered it all in the comparisons. Uh, if you are an EOS user, right, um, and you're interested in universal base, the universal resource, um, inheritance, I would encourage you to stay interested in programs like that and participate in programs like that. But I think there's— this space is large enough to have many more of these type programs. And, um, we definitely invite you to check out ours because, uh, you know, we're not in competition with people who launch programs like this. We want to work with them. In fact, we feel like the more of them there are, the better it's going to be for all of us, the faster cryptocurrency will mass adopt. And when you got that velocity of money and everybody holding value in it. You don't have to worry about the casino prices of value going up and down, or if you lose money. But if you were to lose money, I'll pose this question to you again that I posed at the beginning of the video: which would be an easier pill to swallow? Finding out your losses fed and helped develop nations and people and families several times over, or somebody who took your losses and bought a Lamborghini. And you know, it's just, you know, it's— that's just the reality of it, guys. And we really want to have to think about what we want to do in this space. And, uh, someone mentioned there's two types of people in the cryptocurrency space. It's people who want to make money, and it's people who want to change the world. Personally, I don't think either is a bad idea. But I will tell you this part, from what I'm seeing in the research I'm coming up with, using it to change the world first will get you the money. It will get you the money later, right? It will. It can— you can do both. It will, it will get you the money if it's important and valuable enough for people to use, right? But if you're just coming in and you're speculating and pushing the market up, collecting a few bucks, getting out, doing this guerrilla warfare where you hit again, you put $10 billion in, you take $30 billion out. That's not going to be appealing to people on the outside. It's not going to cause mass adoption. People are going to just look at this and stay out of it till it gets more stable and it gets more valuable to everyone and more beneficial to more people than there exists today. So guys, that's, that's all I want to say today. If you're a big EOS supporter and you're interested in things like this, check us out at BitcoinMYK. We're going to be trying to be involved in many programs that implement this into it, but we really feel this is the way to mass adoption, guys. After doing some research and really taking a look at this, We don't believe that in the cryptocurrency space, the markets will behave like in the normal economy with universal basic income. We believe it will be significantly different. Those are our thoughts and those are our opinions. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.