Facebook Cryptocurrency - Will Bitcoin MYK Win?

Hey you, welcome back to the channel. And guys, today we want to talk a little bit about the Facebook cryptocurrency that is in development coming our way. And I want to look at Bitcoin NYKR token and find out how it's going to hold up against it. Can it win in a very similar category here? So When I first came into the cryptocurrency space, um, I spent some time with developers and, um, I found it interesting that many didn't like two figures in the technological world, and that was the gentleman here on our screen, Mark Zuckerberg, and the other one was Elon Musk. So I kind of understood why people didn't like Mark Zuckerberg Um, I didn't quite get the Elon Musk thing. I've heard things back and forth, and I've, you know, since, um, you know, kind of understood a little bit better, you know, what their positions are. But my standpoint in recent times on both of the gentlemen has become quite positive. And the reason that is, is because I, I found out they both champion and advocate for universal basic income. As well as many other brilliant people. And that tells me that they recognize the problem on the horizon, despite maybe many of some of their other shortcomings people have pointed out. Um, and so, you know, as I've said in many earlier videos, I, I look at them as brothers in arms because, see, the thing about what's so unique about universal basic income that's different from maybe other projects we've seen in the cryptocurrency space is, whereas many of these projects go into competition with each other, they fight each other, they want to destroy each other, and there's this type of coin tribalism, this coin nationalism, this religious-like, cultish-like belief that their coins will succeed and they're the only coins. What's different in universal basic income approaches is we want anybody to win. You know, it, it really doesn't matter which one of us wins. If one wins, we all win. If, if one can get this correct and do it right, then we all win. Uh, and so that's why my position is as such. With that said, however, Facebook is looked at as the institutions. It's looked at as the outsiders. It's kind of looked at how Ripple was looked at early on. Facebook is not looked at as a cryptocurrency that will lead the space, and they will have the leadership position if they launch this cryptocurrency, and they will win because they will have more wallets than anybody. They will have more reach. They'll have a good, um, war chest to keep their operation running smooth. They will target groups of people around the world, uh, who participate in remittance payments back and forth home, uh, even specifically like India, who sends over $60 billion annually, uh, back home a year. And so that's costly, uh, to do that, and you can do it pennies cheap, almost free, with cryptocurrency, uh, and all those wallets will be available. So I want you all to understand the goals of BitcoinNYK because honestly, I just don't think people fully understand what we're trying to do here. Now, will we beat Facebook? No, there's no way we can beat Facebook unless we're very realistic and practical. If Facebook decides they want to launch a cryptocurrency, they're going to do it good and they're going to do it right. They're not going to be, uh, uh, uh, not meeting deadlines, one problem mishap after another one, and this gets pushed back to here and this, that, and the other. No, Facebook's gonna do it right and they're gonna get it right. So we won't beat Facebook in a straight-line race at all. However, Facebook this cryptocurrency that they plan to launch, we don't know how far off it is. It could be a year, 2 years, who knows? I don't know. And what I've learned in the cryptocurrency space, and I've had this debate with many developers, is that the, um, the, uh, coins that are the first movers, uh, and I've seen this in business industry as well, Many great companies I can cite have done this. They've been the first out the gate. When you're the first out of the gate and your product is available to people, you, you have a big advantage there. And BitcoinNYK is ready now to do many of these things. Um, and if we can get a good foothold before Facebook could launch their token, then, uh, we would have a good chance of holding up pretty good against them. Now we do have some other advantages as well. And those advantages, um, you know, basically range from, um, uh, being able to, through this Bitcoin fork we're involved with, implement a form of universal basic income based on the tokens that aren't claimed. You know, as we talk about many times in our videos. And what that does, it doesn't really disturb the ecosystem of the cryptocurrency space, um, like some factor many other coins do. With many other coins, uh, some believe that whether it be through forks or whether it be through some type of, uh, clone or competitive token, that you can have a type of dilution in the cryptocurrency space where You're— where— whereas before tokens were kind of— you could look at them as, uh, you know, limited, right? That there were only so, so many that were created and there couldn't be any more. But then through this type of, uh, coin creation versus forks and various things like that, you get— some believe this type of what you might call a type of dilution, a market dilution. And that's something that I would need to look more into, look at the data, look at, you know, if we could find any supporting evidence to that. But that is the theory and idea from some people. Now, of course, again, with BitcoinNYK, we keep the structure intact and we only use the coins that aren't claimed from Bitcoin holders. The rest of the coins go back to the Bitcoin holders. They continue to mine more Bitcoin up until they mine the final Bitcoin. And as they do that and they increase their Bitcoin balance, their BitcoinNYK balance increases. So instead of it functioning like this totally separate coin taking value from another, it kind of just recirculates value back around. You know, again, the only tokens that get used Um, for, um, you know, basically our Universal Basic Income program, some of our other projects are those untapped tokens, which we look at, you know, again, as tokens that could be dumped on the market at any time for any reason by anyone who holds the tokens, as we know this to be a reality. Now, the point I'm making here is that if we could have systems with large amounts of users Yeah, billions of people, like what you get in India with them sending a lot of their, their money back home each year. We could have a stable coin, but also it would be more advantageous to them to participate in that. They'll be able to do that and at the same time have this universal basic income. So now they're invested in the project as well as sending money back and forth from home, and they're receiving value each month from that project in the form of universal basic income. And, um, uh, you know, solving a lot of problems at once, as well as solving their issue of having to send so much money back and forth, as well as many other parts of the world. If we could get out of the gate properly, I think we could have a pretty good situation. Otherwise we're going to be led down a path of where Facebook will dominate the cryptocurrency space. It will be the stablecoin. It will be done well. People will buy into it, uh, despite any kind of cryptocurrency fundamentals. We know that for a fact that when it comes to making money, people drop their fundamentals. And not picking on Ripple, it seems like my last two videos have been about Ripple or Ripple's been in it. And I kind of like Ripple. I, you know, I like Ripple, To a great degree, but, uh, I'm just putting the information out here, you know, as it, as it's coming, coming across the desk here. But to illustrate what I mean by that is despite people having this negative outlook on Ripple XRP tokens, um, you know, saying that it's a product of the bank, it doesn't have anything to do with cryptocurrency. It's not, it really doesn't have a blockchain, that most of it is held by the Ripple company over 60% or something like that, whatever the numbers are, uh, people still invested in it. You know, let's say that there was some type of cryptocurrency code or ideology, uh, well, that was abandoned, right? And so they would probably do the same thing with the Facebook cryptocurrency. Um, now my approach is, uh, it's your money, you do what you want, you, you have the ideal ideologies in cryptocurrency space you want. And that's perfectly fine. But if you're one of these diehard crypto purists who see Facebook dominating the cryptocurrency space as a problem, then that's gonna be a problem that you're gonna have to deal with because they're gonna be coming out and it's gonna be very effective. Now, some people say it will have a positive effect over the entire cryptocurrency space because now a lot of people are in there doing very— that might possibly be the case and it could be good for everybody. Or people could just decide Facebook is safer. I can do this a lot more efficient with Facebook. It's more wireless with Facebook. Why don't I just use Facebook? Um, and, um, you know, that's kind of where I'm at with a lot of tokens where if I find that I can do something safer, more efficient, better, on a more stable network, uh, I'm probably going to use their cryptocurrency over yours. And, uh, BitcoinNYK uses the Waves platform. This is a very robust, super fast, so we're sending our tokens to millions of people would be absolutely no problem at all. Um, high speeds, and we can do that now. And I, you know, and I think that these are the type of ways we're gonna have to think about the cryptocurrency space going forward into the future. Can we beat Facebook? Who can beat Facebook? I don't know. But I can tell you this, we can beat them if you all want to. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.