Facebook Coin - Starts In June! - Run Masternode - BtcMyk Benefits

Hey you, welcome back to the channel. And today I want to talk about Facebook Coin possibly launching this month in June. That seems to be resurfacing quite a bit again. June was the original date, and there are articles that have went out speaking recently that Facebook Coin would not only be launching officially here in June, but will be also giving their employees now the options to be paid in the global coin, which will be their, their signature cryptocurrency. Interesting enough, what had been another topic is just how centralized would this cryptocurrency be, right? And so the thing is, um, it looks like from this article that Facebook is going to be charging $10 million per license to manage its cryptocurrency network. Um, so they're talking about running a masternode. It's about $10 million to set up a masternode. And the companies want to help manage one of the 100 nodes on Facebook's cryptocurrency network will reportedly be charged this hefty fee. So, you know, a lot of people when they hear that and they think about that, they think, wow, that doesn't really capture the spirit of what cryptocurrency is. You know, generally if you're running those, you're being actually paid to run the nodes. You're not paying to run the nodes. But I can only think that maybe the idea is the people who are running these nodes are definitely going to probably end up profiting from this, from fees or to some degree, and in the value of the cryptocurrency. With Facebook being such a big brand, it is more likely with them investing this amount of money, it's going to be profitable. Now, a lot of people generally move from that to, well, you know, that's not really what cryptocurrency is about. And if that's the case, then this might be something a lot of people might not want to be involved in. However, I would say in certain economic principles that what Facebook is doing could, in a way, end up becoming a better means of decentralizing cryptocurrency. I know a lot of people find that hard to believe, but if we were to go on a theory of, uh, if we, if we believed good distribution of a cryptocurrency is moving that network more to decentralization, um, you know, the better this cryptocurrency gets distributed then in a sense I would say that that captures some of the parameters of good decentralization right now. If we compare that to something like Bitcoin, yes, it's true that you can go out and you can invest in an ASIC miner and you might be profitable at some point in the future on it or what have you. Um, it is true you can do this and you can get involved, but the reality of it is that Uh, the miners in Bitcoin are probably still more so a minority group because most people in cryptocurrency we know probably don't even run miners. Um, you know, the next part is within Bitcoin, uh, there are only about 4 million wallets with over $100 in it. And, uh, um, you know, the wells and the, the large Bitcoin holders probably fall in certainly a much more lower percentile, right? Probably talking 1 to 2% or something like that, right? So the point I'm trying to make is even though we do have a decentralization of technology in cryptocurrency, how it exists today, We certainly do not have the decentralization of wealth. We don't have the decentralization of technology, of the mental aptitude to mine the blocks, and we don't have the, the decentralization of the development teams working on these blockchains. Now, that's all very important because with something like Facebook Coin, Uh, that according to this article, it will be, uh, let's see, I believe it says it's going to be tied to the US dollar. Um, yes, um, according to the Swiss, uh, publication, uh, it was— it would seem that, uh, I heard something different before. I heard it would be a basket of, uh, currencies, right? And, and that would create a more stable— but I guess they're still looking at the US dollar as the reserve currency. And so They're tying it to that according to this article. Now, uh, you know, with something like that in within the network that already exists in Facebook, you would probably have a great distribution of those cryptocurrencies because you would have miner, uh, you would have, I'm sorry, vendors, uh, probably incentivized to use Facebook Coin. And there's just so many ways Facebook Coin can pursue this, but they would probably more likely incentivize vendors through Facebook and come out of the gate with a lot of vendors, right? A lot of marketplaces. It could be used for a lot of people who produce content and material. You can be paid in Facebook Coin. You know, as we covered earlier in the video, their employees will all be paid in Facebook Coin. And you're talking about this vast, complete ecosystem right now. Really looking at the economics and structure of cryptocurrency, uh, one could easily make an argument that a well-distributed cryptocurrency is going to go further to accomplish decentralization than, uh, you know, just having some technology with a few people, uh, that hold the bulk of that cryptocurrency, right? With Wells are holding 1, 2, 3% of the cryptocurrency in which they can crash the market and manipulate the markets at any time. Now, you know, in the spirit of the idea of decentralization, I think there is a great degree of blockage in understanding the concept and the technology of decentralization, versus really what the impact and what you get in true decentralization, right? Now, 100 nodes running the network doesn't sound like a lot at all, right? But it— I tell you this, it's a lot better than I thought it would be, right? I was expecting maybe about a dozen nodes, uh, and it's really— it's 100 nodes, uh, and I think that's pretty darn good. You know, we got other projects where We have, like, if you take EOS where you only have like 21 block producers, right? You know, that is less than what Facebook Coin is going to be doing, right? Not to mention again that Facebook Coin gets closer to decentralization just based on the distribution will be so well Now, to even make matters even more worse in how Facebook Coin will be able to achieve possibly a great deal doing something like this is we know Mark Zuckerberg to be a big proponent and advocate for universal basic income in looking at technology. So it's not far-fetched for me to— the next step, the next progression in that for Mark, somebody like Mark Zuckerberg to be, is to use Facebook coin, this global coin, and create a type of foundation within the system that gives out UBI to people. And I could pretty much see his game plan that he's going to do this. I think Mark Zuckerberg already gets that that's the road to mass adoption. Now here's the thing, this is why I think it's going to be good for cryptocurrency in the end as well. I think when cryptocurrency space, when we actually see the success on Facebook Coin and see what it's doing through the core idea of usefulness over technology. You know, as to say, uh, anything can be built. We can build anything for any purpose, but the true reality of something lies in usefulness, the usefulness of something. And as much as we've preached, uh, about, uh, the dangers of social media and censorship We've watched and we continue. It was another big figure in social media who just got deplatformed, I think, over the last 24 hours, and I can't recall his name. But if we're such big believers in these ideas and concepts of censorship and all these things and data, why don't we protest when members are deplatformed? And when these people create their own websites and they go to their own websites Why don't we follow them over there? What is our excuse for that if we believe so much in, in this like we say we do? And I'm not saying Facebook is a good project. I'm saying that it's going to leave, or I think paint a picture of what's missing in cryptocurrency and what we need to work on. And I think that's going to drive many cryptocurrency projects to address those issues. Something they haven't done, uh, up until now. And, uh, projects like we're working on, BitcoinNYK.com, where like with a crystal ball we foresaw all of this happening months ago, uh, we developed this product that's kind of reminiscent of Facebook in a way. It kind of feels a little bit like Facebook, but it does all of the things decentralization-wise and social network-wise to create the very valuable network that is the most important part to this whole entire process of people, uh, using this network, uh, to move their value back and forth. Now, the way I see things is, at the very least, however you look at something like Facebook Coin, it's going to create an option of a decentralized money for many people, and that creates real economic freedom. And with economic freedom, that's going to solve a lot of problems, and people are going to use it, and they're going to see all the advantages of it, and they're going to take advantage of that. Uh, now why this is going to be good for projects like what we started, BitcoinNYK.com, is because, uh, what's going to happen is cryptocurrency is finally going to learn and come to terms with this is how we have to do things. It took some, uh, a, a, one of the corporations that we don't like and, uh, products we don't like to show us how we should approach this. And then we're going to start to create these networks, right? Uh, now Block.one Voice, they have created or are in the process of creating one. Uh, and right away it seems they're starting off wrong. Um, news has come out that, uh, the American citizens won't be able to have access to it. And I don't know if that's 100% true, but what is true is they haven't made the product available to us as of yet, or anybody for that matter. And I think that's not good. But Facebook is due out this month. The latest news has come out, and I think Facebook's gonna be a great deal more successful at this. But that's gonna bring more— many advantages. This, this, the this deflationary money, um, and probably a lot of value to the people using it and the merchants and the vendors and the content creators and the publishers. All this is more likely going to be implemented into the Facebook system. Um, this is good for BitcoinNYK.com because I think it's going to wake all of us up to this is what we have to do, and it's going to make other products create comparable products that have to work in a similar way. Um, and so this is going to be all very interesting to watch. Uh, I think it will initially have a positive effect on the cryptocurrency space, maybe catch a little spike in that, but eventually I think that the usefulness versus, uh, uh, you know, application as to what we really use and demand will always win out over, uh, uh, over, uh, the technical details of a product. Uh, because at the end of the day, people really just want to use these projects, right? And, and, and the value of them is related to how they see them and view them and what they believe. It's not related to ideas of just censorship. Uh, and I say that only based on the data we've deserve so far. Again, you know, when our Alex Joneses and our Jordan Petersons are deplatformed and leave these platforms, right, they should be able with their base to create viable products somewhere else. Uh, and if we truly support them and, uh, support these ideologies and believe in them, they should have just as much traffic exposure and voice outside these platforms as they have on the platforms, and they don't have that. So what does that say to our crusades where we try to couple all these things together? But those are my thoughts on it. I'd love to hear you guys' thoughts on it. You get early started with BitcoinMYK.com, a project we believe has already figured this thing out, and the people who have got involved in it early— and it's been several hundred people who have got involved early so far, holding our cryptocurrency, holding it as a protection just in case we're right. Because we could be wrong at the end of the day, right? But we're willing to take that risk, and that's why we're allowing you to get our cryptocurrency free. Because we believe so much in our project, we didn't have to start an ICO. We didn't have to, uh, uh, ask you to put up your money for to see if our product works. We believe our product does work and the value is due in our project. But you getting in right now and participating and getting this cryptocurrency that you can get for free will, will, and possibly can put you in a good position provided our theories come true, which I believe they will. And it looks like they're going to be coming true a lot sooner than I thought. But that's all I got in this video, guys. If you like content like this, don't forget to like, subscribe, and until next time, take care.