First Forward Split Tokens In Crypto History/MAPR

Hey you, welcome back to the channel. And guys, today, very exciting news. We want to talk about some of the first ever forced split cryptocurrency transactions. So much like what you get in a stock split, uh, generally what happens is you end up with more of the stock, or in this case, cryptocurrencies, tokens, than you started out with, right? So the Maya Preferred project or the MAPR cryptocurrency will be one of the first ever cryptocurrencies to do that. Um, the other project is going to be, uh, Bitcoin MYKR project. So we're going to get into details about how both of these, um, first ever, uh, fork splits will work, why we think that they're going to be so interesting and great for the tokenomics, uh, of cryptocurrency projects in the future, and some of the very important things you need to consider, uh, in these ideas. So first of all, uh, very important disclaimer about forward, uh, splits— not only forward splits but deflationary cryptocurrencies as well. We're beginning to see some great ideas cryptocurrency projects right now that deal with new ways of exploring the entire ecosystems. That is by mechanisms that make your cryptocurrencies ever deflationary. And now we have projects that do for stock splits where you actually get more cryptocurrencies based on how many you hold today. So let's read a little bit what they're doing. How it works. Uh, also keep in mind, uh, this is very important, that whether it's a deflationary cryptocurrency or it's a forward-split cryptocurrency, it really doesn't matter or affects the price. You can have as many cryptocurrencies as a project's willing to give you, or is less, it doesn't matter. That price can still remain the same, or in some cases be worse. In some cases, maybe it does get better by what we deem or what we call attractive pricing. But the bottom line, what you should walk away with, with any of these projects, we just want to put that out there in the forefront, that it really doesn't matter whatever magic tricks are used, whatever sleight of hand are used. These projects will not necessarily give you more value or make you more money. But now what is, uh, very interesting is the psychological effect and behavior of humans that can sometimes make it more attractive and appealing. But anyway, let's read what the Maya Project is doing. Then we're going to get into the other project that's also participating in this type of split, which is the BitcoinNYK Project. So UK Financial Limited has announced that they will be performing the first ever fork-split style transaction in cryptocurrency history. MAYA Preferred. A forward split is traditionally when a stock splits and shareholders end up holding more after the split than they held before. This crypto incarnation of the forward split will see each MAYA holder receive 100 MAPRs after the split for every one, uh, they held before. Anyone who owns a MAYA Preferred 223 at the close of business on July 31st, 2019 will qualify for their share of the forward split tokens. While holders will be given 100 free MAPRs, the price of the coin will accordingly be reduced by 100 times at the close of business on July 31st. This move will make the price of Maya Preferred 223 more affordable to investors. The split will happen like this: if Maya Preferred closes at $25,000 on July 31st, 2019, Maya My preferred will open at $250 per coin. All coin holders will receive 100 tokens per individual coin they own. Partial tokens also qualify, so the dollar value of their holdings exactly the same. All the tokens should be transferred to the accounts at ktex.io, right? So that's very interesting. That's— and that's pretty much telling the story that a lot of this concept is Not so much about you're going to gain more value, although you could, but in a sense maybe you will as now this becomes a more attractive price token at $250 as opposed to it being, uh, at $25,000, which a lot of people don't like. It's similar to what's happening with Bitcoin. You know, a lot of people don't like to buy Bitcoin as it gets more expensive. You can only own fractions of a Bitcoin in some cases, like A lot of people don't like that. So attractive pricing becomes a much more viable way to market a project. My preferred 223 is a stablecoin that is backed by $34,000 per token in gold and silver from 11 gold and silver mines in Mexico. The 4-split will not affect the way the coin works. The currency will have the same amount of assets backing it after the split. So that's going, guys, back to what we were saying before. Don't let the smoke and mirrors fool you. Although tokenomics, there are certain principles in tokenomics that suggest whether a project is deflationary or you're doing a token burn or maybe something to this effect that you will end up with more, probably. But realistically and fundamentally, no. So let's talk about what I like about Maya Project and then we're going to talk about BitcoinMYK. How is it doing this very similar idea? So with the Maya project, they're splitting, so you're going to be able to buy the cryptocurrency for less because it's going to be now more cryptocurrency, more tokens, right? So, uh, how that works is, uh, it's backed by gold and silver. So these are all great things. That's great. It's backed by gold and silver. Now, not so good part, what a lot of people don't like about it, it is, uh, a stablecoin. Right? So it's only backed by what it's backed by, uh, and, um, you know, I— that's kind of a problem for me because I like assets, I like things to appreciate. So Maya is not going to be able to do that, but it is a very interesting project from a tokenomics sense, uh, when we look at, uh, you know, this could end up being more of a valuable asset. So very interesting project, uh, one you want to take a look at, but we're going to also get into BitcoinMYK now, how it's adapted the 4-split feature as well, and how it works in BitcoinMYK, and, uh, how it can be more appealing or more advantage— more advantageous to many of you. So let's get over there and check that out. Okay, so we're here on the Steam Engine Marketplace. That's where the BitcoinMYK token trades. I want to go over a little bit how this is going to be able to initiate a forward split of a forward token split at the same time whilst being deflationary. So, so let's quickly explain, um, what that means and the dynamics of the tokenomics here. So this is quite interesting, it's never been done before like this, and so it's quite experimental and it's going to be exciting to see what happens with this. But what will happen starting on July 19th, which is this upcoming Friday, and going onward to August 19th of 2019, all of the BitcoinMYK tokens you now hold will actually double in value, right? So it will— you will now have twice as many. It will split on a 2:1 ratio, you have twice as many BitcoinNYK tokens as you do now, right? Uh, now what that'll do is that's gonna make it more attractive for some of you. Now you'll have a lot more of the tokens, uh, if you buy more of the tokens, uh, during this period, uh, over this 30-day period, you'll be able to as well, uh, have twice that you'll get double the value of the cryptocurrency, of the tokens. Now, the reason that this is, uh, such great tokenomics and it's so exciting is because whilst at the same time the, the amount of tokens you have will be doubling, the trade volume token-to-token ratio that's on a 1-to-1 ratio will be burned. So that means, for instance, if you bought a million tokens you would end up with 2 million tokens, but the 2 million tokens in trade volume will be burnt against the token balance. So you might have to rewind the video back to understand what's happening there, why this is just so dynamic and, and so interesting to see what happens with this. Now again, it's important to keep in mind that when you're initiating something like this, that no matter what the value or the amount of the tokens are, the cryptocurrencies are, value-wise, the value of the project still remains the same. And that's how come I've been kind of critical of many of these deflationary coins that have had these deflationary models, but the projects themselves don't really have a use case, or we don't really know what happens after it just deflates. Now While a project like Bitcoin NYK is different, it's important to understand that Bitcoin NYK is not only a Bitcoin sidechain, but it is also— it also has a social network. So it's kind of reminiscent of what we might get with Libra coin. We have a social network where you can play games on it, instant messenger systems, uh, social media interaction. And then as well as you have a Bitcoin sidechain with that, and then you have a universal basic income token project with that because we believe that to be a mass adoption vehicle. So you can kind of see where this is going. Now if we go back to something like Maya token, what we looked at a little bit earlier, uh, in the video, the Maya token is a stablecoin. And what that means is that, uh, you know, it's going to more so, um, you know, act as it suggests. It's going to be backed by a certain amount of cryptocurrency That is where the value lies. In this case, going to be gold and silver, so much in gold and silver per token. Now, where BitcoinMYK is a little bit different from all the deflationary cryptocurrencies, and even now this new idea of the fork splitting cryptocurrencies, is that it has the backing of the network, right? People are actually using it every day. The site gets thousands of visitors per month. Um, it has games on it, it has social media profiles. The membership is gaining every day. We expect to maybe hit at least our first 1,000 people by the end of the month, and after that we're hoping to see a very big explosion in the project. But with the new features that we're developing with this project, uh, we believe that, uh, the growth is at an exponential rate at this point in time. And so that's good because The real value in projects is the demand for them. Do people use them? What is the use for using them? The use in our project is being this universal bridge cryptocurrency that is able to facilitate and move Bitcoin, being a universal basic income token, which means all participants get so many a month. Uh, that's very important to where we're headed in our future with automation and technology. A lot of the world is being displaced, uh, in jobs, and so They need a way to be able to help to meet some of the conditions that that imposes on us in our societies. And so universal basic income has been raised as a solution to many tech giants, from many tech giants, many economists, as it were, presidential candidates, et cetera. So the BitcoinMYK project fulfills all of that. Very exciting project. And now it has the 4-stock split as well as it's deflationary on a 1-to-1 ratio to how the cryptocurrencies are traded. And volume. So, uh, if the tokenomics works out like we plan it, is being ever, ever reduced and compressed, and as the value of the network grows, uh, we can kind of logically deduce that the value of the token should grow against the deflation. And, uh, in this kind of tokenomics, the game theory here is the more cryptocurrencies you get, the more value you're gonna have in the deflationary project. And it's 100 million tokens in total circulation. We're gonna reduce that all the way down to about 5 million tokens, and at which point the majority of the tokens will remain, will belong to the community. And that is exactly what we wanna see. Now, in addition to that, this is also very important to understand. From July 19th to August, of 2019, right? That means all the tokens you hold in that period will be doubled. Okay, so that's a 30-day period starting on Friday. Now here's the kicker. After August 19th of next month, here's the cool thing that's going to happen. Everybody who buys the BitcoinNYK tokens, they're going to continue to receive double the amount they buy. The only people who aren't going to receive double the amount of tokens they, uh, have at that point is the people who are earning the tokens, you know, either through some type of mining or completing tasks on the platform, on the website. They will then begin after that period to only earn, uh, you know, one on a one-to-one ratio token, whereas the buyers after that point will continue to earn double that. So you kind of get into the game theory of it. The people who are buying after August 19th will still be able to do that, but they will also be able to do it in this window from July 19th to August 19th. The only good, great news is you can earn the token, you can earn double your tokens free right now by just for free, even in your Universal Basic Income collection every month, you get it free. Earn doing offers on the website, you get them, you still get them free and you get double the amount. but after August 19th, you no longer get double amount. But if you buy the tokens, then you'll get double the amount. So you kind of see where this is going. And as it compresses down and down and down in our game theory, when we couple that against the use of the network, think something like, again, Facebook Libra coin, a network that people are— social network people are actually using with a messenger service where they can send their cryptocurrency value back and forth to each other. And even if you have Bitcoin, here's another cool part to throw in here real quick. If you hold Bitcoin, you could get in ratio on a 4:1 ratio. You get 4 Bitcoin MYK per Bitcoin you hold without, uh, swapping your Bitcoin, without spending your Bitcoin, anything like that. So this is a project meant to facilitate a Bitcoin sidechain for Bitcoin holders as well. So they'll get the tokens free, and they will also be eligible to double their tokens July 19th through August 19th if they claim their token. So guys, this is a— I believe this is one of the greatest projects in cryptocurrency. I love to hear you guys' thoughts and opinions on it, and it's absolutely free to try, absolutely free to get the cryptocurrencies. And again, if you buy some, you're going to get double the amount. So win-win situation for everybody. For more information about the BitcoinNYK project, uh, feel free to leave, um, information in the comment section. It is open now. And on Friday, that is when everything starts with the 4-split. So that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, take care.