Facebook Global Coin VS Bitcoin

Welcome back to the channel. I hope you all are having a great Friday afternoon as we go into the weekend. So today I want to talk about Facebook Global Coin. We know now that is the official name of the cryptocurrency that Facebook is scheduled to launch. Uh, the last, uh, earliest date I heard was something like June of this year. Uh, it's some changes in that. Now we're getting dates like 2020. Now some dates are like the end of 2019. So not 100% certain on what is the official date, as we heard several. But what we do know is that this is happening, and Facebook Global Coin is already making its presence known. It's already speaking with various banks around the world, um, and making sure that it's legally compliant. So, uh, what does this mean? Facebook Global Coin versus Bitcoin. So the Facebook Corporation's approach to cryptocurrency, uh, we are seeing a significant difference at how they're going forward We take something like Twitter, which seemingly has integrated Bitcoin into its network. Facebook Coin has decided that it is best to just launch their own coin, thus becoming the biggest cryptocurrency in the world with over 2.5 billion users, also being backed by a basket of fiat currencies from the US dollar to the pound to a variety of things, balancing it out somewhere, making this, uh, almost some might think a type of reserve currency, right? Maybe even more stable than the US dollar perhaps. Um, we haven't seen anything like this since what happened hundreds of years ago with the Dutch East India Company. That was this corporation, a mega corporation that rivaled countries. Facebook would probably be the largest country in the world if it was a country now with its own currency. And so I think this is very serious and I think it is very, uh, significant to what can be done with cryptocurrency. Now, unfortunately, uh, what I've said is I've constantly said that I believe blockchain technology is one of mankind's greatest inventions. It's up there with the printing press, it's up there with aviation, uh, landing a man on the moon, um, all of these are great inventions. that have pushed mankind to the next level. But unfortunately, although so far in the cryptocurrency space we have this technology, we unfortunately haven't done much with it. And, uh, that disappoints me a great deal that, uh, we haven't seen the visionaries in cryptocurrency as of yet. To push cryptocurrency to the next limit after 10 years. Um, you know, uh, at best, I think what we've done is treated cryptocurrency much like a casino, uh, a large gambling casino. Uh, and in addition to that, uh, our best applications over the blockchain not surprisingly, are gambling applications. To me, this shows a lack of vision. It weakens my faith in the cryptocurrency community and where there are great projects out there. You know, Facebook Coin is leading the way, Facebook Global Coin, into where blockchain technology can go. right? So some people say this is just a payment system. I think this is just gonna, this is gonna end up being more than a payment system, right? I think we're gonna see a lot of uses to this. And although it's run on a centralized, uh, conceptually it feels centralized. I think this could easily become something that gets away from Facebook as well. Right now, What can we do about this Facebook global coin versus Bitcoin? Obviously Facebook global coin will come out the victor from the, from the get-go. The interfaces will be easier. The network's already there. They are legally compliant. Um, you know, one of our chief, um, uh, arguments for cryptocurrency has been the the fact that we are away from centralized banks and centralized authority, and it's been challenged if we're truly decentralized. One thing for sure is when it comes to being hurt by lack of regulation, we've been hurt more than anybody in anything, right? By being exploited in lack of regulation to the point people either don't want to participate or they're not very trusting of the space, creating this bad stigma of scams and a variety of things, right? So Facebook Coin won't have any of that, obviously, as they're going the compliant route. But even so, at the end of the day, Facebook Coin is this large corporation that's, um, uh, you know, basically pretty much still the same, right? It's not breaking the wheel, it's a continuation of the wheel. And that's been much of our problem. So what do we do? What do we do? How do we combat this? And so my answer would be something like what you're looking at here, BitcoinMYK, which has a similar look and feel to Facebook, but it's, it's this idea of where Bitcoin and Facebook and cryptocurrency all meet up and create a user-friendly, familiar product that lends itself to the ideas of decentralization, democratization, delegation, and all of the things that I think are key and important in us, um, uh, you know, and what we're really looking to achieve and what we're really looking for in this space. Unfortunately, none of us have come forward, and now we're kind of at the precipice where we're running out of time. And that is because— excuse me— whether Facebook Global Coin launches in next, next month in June, or the end of the year, or sometimes in 2020, it is going to happen. And I think that we're being a bit naive to somehow think that by people going through Facebook Coin, Facebook Global Coin, that's going to somehow trickle down to people, more people using cryptocurrency. Now, in a very optimistic view, that could very much be the case, that it will introduce more people into cryptocurrency. But it could also just be the case that people say, well, I'm just going to stick with using what's easier. Um, and then people just come to realize that this type of technology works better when it's administered in this way, uh, through systems like Facebook, right? So we don't really know the full outcome of whether it will just, uh, be a much more easier to see Facebook coin as sound money backed by a collection of, uh, a basket of, a basket of, um, fiat currencies, right? That, that might be a more safer bet than putting your money in US dollars that are regulated, or putting your money in Bitcoin that is not regulated, right? And so this can open up a lot of scenarios, but I think this optimistic view that it somehow means then that the value of Bitcoin goes up and many of these other altcoins, I don't see any evidence to that as of yet. That would make people want to do that. You know, in fact, I would see this more as becoming a comprehensible way and a much easier way to send money for remittance back and forth all over the world, uh, through your Facebook accounts, you know. Uh, and why would I want to trust risking my money from hacks and it being stolen with blockchain and cryptocurrency when I could do this with Facebook Coin And if something happens to my money, somebody gets in trouble for that. Yet at the same time, using this as a way to keep governments from stealing from me because of Facebook Coins is inflation-proof, so to speak. I think much of the issue with our monetary policy has been the fact that centralized governments can come in and they can steal our value and they can steal our wealth right from us. That's been the main part. The other parts have been things like privacy and censorship. Unfortunately, privacy doesn't go very far with Bitcoin, as we much all know at this point. And censorship, well, censorship is very important, but we have to, I think, ask ourselves several questions. One question being if central— if I'm sorry, censorship is a bigger problem as we say it is, then that would prompt a lot of people to leave networks like Facebook, Twitter. A lot of people say, oh, people are leaving every day. But it's kind of funny because when I look on Facebook, I still see a lot of the same people on Facebook. So I don't see a lot of this exodus that people are talking about. Also, when some of our most striking figures, whether it be Alex Jones, Jordan Peterson, and a variety of the camps leave social media, I would think that what will follow after that would be us leaving social media with them, right? And, and going to watch their content with them over on their websites and a variety of things. But that's not exactly what happens. What happens oftentimes is they go on to still have somewhat successful sites and presence, but not as big as they had before because many of these people don't leave the social media, um, platforms to follow them out, uh, which would be sending a clear message that we don't like the censorship provided by Facebook or Twitter or a variety of these networks. So if we were to put this on a scale of importance, I think the money, our monetary policy would go to the top of that list. The idea that people's money is not being taken from them and stolen from them. And if you got sound money that is deflationary to a, to a great degree, then you kind of solve that problem. So my point is, I think it might be a little bit naive to think Facebook Global Coin's going to introduce people to cryptocurrencies like Bitcoin, and then they're going to somehow go, okay, and we don't need Facebook now. We should have been using Bitcoin altogether. I think it might be going in the other direction. I think people are going to start to say, well, look, you know, not necessarily Facebook global coin, but ideas like it work better than what we've had before. And which is why we haven't mass adopted in over 10 years. So what are some of the answers to this? And what are some of the solutions? So here's the thing, guys. Uh, I would say some of the solutions is using what works. Now, it's a reason Facebook Global Coin will have 2.5 billion users when they start off. There are reasons for this. Uh, I think we have to learn to use what works and, uh, and, uh, discard what doesn't work, right? You don't have to throw the baby out with the bathwater. There have been things that have work with the Facebook platform and interface, right? So my proposal is something like what BitcoinNYK is doing, a project I'm working on which has some of the useful pieces of what some— what a social network can do, which is what we're going to see the power of what you can do with a large social media site, having all these people in the same ecosystem bigger than countries combined and having their own money they could send back and forth over their network and do a variety of things, right? Now, uh, something like Bitcoin MYK has the spirit of that, and that's why it will be successful. But now, unfortunately, due to our— us being, uh, lackadaisical, uh, us not being, uh, quick on the draw We have waited in essence surpassing over 10 years now for something like Facebook Global Coin to emerge up and pretty much be the harbinger of our end to a great degree. And until we do something like this, I don't think, I don't think it's going to be any different, right? I don't think the decentralized applications have worked. You know, again, our most successful ones have been gambling, uh, decentralized applications, right? These things haven't been used. They haven't really achieved much of anything, right? And we're talking about the greatest invention, one of mankind's greatest inventions being used for nothing more than gambling in casinos at this point. That, that's on a scale of the most used. In these applications. As far as social media and social networks, the biggest, most successful one has been Steemit.com, which we're integrated into, but at best it only has 2 to 3 million people in it. So this is, you know, I think something we really need to pay attention to, and I think we need to be proactive if we really care about the cryptocurrency space. You know, in order to make this work, We have to make the decisions. It's not— this is decentralized. This isn't somebody steps up and they create something, uh, and we all just follow in. We all have to be, uh, part of this and, and participants in this for this to work, right? It's not like Facebook where there's a board and there's a management team gonna steer— always steer us in the right direction. We have to build these things and we have to make these things work if we really want this separation from the global corporations and nations and central banks like we say we do. Now BitcoinNYK has a secret weapon against something like Facebook Global Coin, but our time is running out here. We're running out of time. And when people watch videos like this and they don't join our projects, and they— or they look and they say, oh, that sounds good, but I'm gonna go do something else. Every time you do that, you make the cryptocurrency space weaker. You make us more vulnerable to things like Facebook Global Coin, uh, and you make, uh, you make it bad for all of us. You make it worse for all of us. And I'm gonna explain to you why that is, because If we don't create something to rival something like Facebook Global Coin, because make no mistake about it, Facebook Global Coin is in competition with Bitcoin. It's not trying to peacefully coexist with it. It's not pulling a Jack Dorsey, uh, where they're trying to integrate cryptocurrency. No, they're going to show us all the problems with cryptocurrency and why you shouldn't use it and why it's just easier and better and more convenient to use something like Facebook Global Coin. And you're going to be better off for it, right? So we're running out of time here. We're running out of time here. And this is the answer. Bitcoin MYK is the answer for our dilemma. But we don't have much time, guys. 2020 will be here before you know it. If they launch this thing next month, like I've been hearing, we'll, we'll be out of time that quick. It should be 10 million, 20 million, 50 million people who register to this site. If you are, uh, seeing the dangers that Facebook Global Coin can cause, you should have registered to this site 6 months ago. In fact, you shouldn't have been, uh, waiting for this to be heard on this video. Now you should have been already looking for projects like this. Before something like this came along and being proactive about in this space. If you want to prosper in this space, if you want this space to really succeed. Now, the secret weapon that Bitcoin NYK has is universal basic income. If you don't know what that is, you don't quite understand the economics behind what universal basic income can do to an economy and the velocity of money. I would invite you to do some research, look at articles about how universal basic income can not only help an economy but push it forward, right? Projects like EOS has dabbled with it, the concept of UBI. I don't think they figured out exactly how to do it yet. We have with Bitcoin MYK, but I think they've understood enough of it to understand it's a mass adoption vehicle. Telos, it has already implemented something like it, but it doesn't trade on exchange. But they're trying to do something with, I think it's called the Acorn Project. But people are slowly starting to recognize that UBI is a mass adoption vehicle. Even within the United States, we have a presidential candidate running out, Andrew Yang, under UBI, talking about how great it could be to the United States economy. Very— he's run a very serious election and campaign, and he may possibly win. We have to get serious and think about what we're doing, you know, playing this speculation game, playing these casino games. Our vision has to expand beyond that, and we have to figure out a way to use one of mankind's greatest technologies to push us forward. right? And to stop, uh, big mega corporations like Facebook coming in, controlling all our data, controlling us essentially, and governments from doing that. This is how we do it, right? But we're not doing it now. We're not doing it now, uh, playing a casino game with your favorite coin, flipping it up in the air and hope you get rich tomorrow, and, and losing all your wealth in the process, because there's no way the demand can push these markets forward to get enough billions and trillions of dollars into it, especially something like Facebook Global Coin. Like, why would I want to, why would I need to invest in your cryptocurrency even if I'm something like mainstream coming in when I can just invest in Facebook Coin? You know, uh, it's going to be compliant, better for me, better for my books and everything else. But we have the universal basic income weapon, secret weapon, velocity of money to be able to rival an entity like Facebook. But we're running out of time. We don't have much time left, guys, before there's going to be a very difficult long battle. And the reason I'm saying that is because Mark Zuckerberg is a, is a advocate for universal basic income. You best believe that this Facebook global coin is gonna be connected to all types of foundations and charities and universal basic income programs real soon here in the future. But we got time still. If that 2020 date, if it doesn't happen another year or two, we got time to work. But if you wait to the last minute, all of these baskets of cryptocurrencies you're holding that you're banking on and you're betting on could possibly be standing on their last legs right now. And I hate to present this like being a harbinger of doom message, but I think it's time we got serious about cryptocurrency. We are lacking the vision in this space to really make it work. Look at the projects you're involved in right now and tell me what it's doing. Um, it's probably not doing a whole lot. Uh, and so it's time for us to really get serious about this, guys. If you don't understand this project, ask some questions about it, get involved. That's all it takes, getting involved, right? This is about network value. That's the real value in the network. People think it's in the money, the, the cryptocurrency price going up tomorrow and going down tomorrow. No, it's in that ever-expanding network to move and transfer value from one place to another, creating economic stability and prosperity to all, stabilizing regions and people. And so this is something to think about, guys, something to get serious about. Uh, let's start getting involved with some good projects and using this technology like we should have used it 10 years ago. Uh, and let's take this threat serious. But, uh, that's all I got to say in this video, guys. If you got any questions, comments, or concerns, please leave them in the comment section. Uh, if you like more information about the BitcoinNYK project that I think is going to be an overall solution to many of the issues we experience in cryptocurrency and are having now, feel free to come over to the website, read our white paper. Talk with us. We'd be more than happy to tell you how it works. But that's all I want to say in this video, guys. Uh, and, uh, I hope you all have a great weekend. Take care of yourselves and each other.