Hive Engine - The Biggest Token Network Bitcoin MYK

Welcome back to the channel. I hope you're having a great day. So today we want to talk about BitcoinMYK. Is it the biggest network, um, amongst the Hive Engine tokens? And so I want to explore that today to see if that's true, and if so, why is that true? What's going on with this project? And, uh, um, What do we think is going in the future? So looking at the amount of accounts, and these are what would be determined as low-level KYC accounts, that means people had to provide email addresses, they had to register accounts. Um, it's over 6,755 accounts. Um, and, uh, um, amongst a lot of the applications we've been noticing in the, on the Hive blockchain. We haven't encountered many in those areas. And so we're going to discuss a little bit about why we think BitcoinMYK has managed to get so many accounts. And we believe over the exchanges themselves, the numbers are more like 14,000. So The thing we have to keep in consideration as well is those— the accounts over the exchanges, we're assuming that, you know, people might have additional accounts for security purposes, for business purposes, and so on and so forth. So it is probably more likely that the 6,755 users are there And they're probably as well just people who are interested in cryptocurrency and projects spread across different blockchains. So we also have to take that into consideration. But it is that exposure to, um, or allowing for more exposure to the Hive blockchain, so to speak. All right, over here on the Hive Engine Exchange, This is an exchange that started off very, very low liquidity. And we've watched it, you know, over the last year or so, start to pick up some significant, you know, some pretty good trade volume, something that it wasn't doing before. Looks like the BitcoinMYK project is trading probably like in the top 20 A little bit more better volume for our project today. I want to talk a little bit about why, um, you know, we think that, um, you know, BitcoinMYK has managed to achieve these accounts and, and, um, this value, and, uh, why is that happening and what do we think is gonna happen in the future. So One big issue has been in cryptocurrency, um, getting new users, getting new accounts. How do you do that? Do you pay for big marketing campaigns? Do you— how do you do that? And with the BitcoinNYK project, we haven't done any of that. Uh, we have spent to date $0 on marketing, so all our growth has been organic. Now of course, I think that the secret to what's happening in BitcoinNYK is, uh, basically that It offers universal basic income, and it inherits the Bitcoin ledger, which basically means if you hold Bitcoin, you're going to get Bitcoin MYK free, and the unclaimed, uh, coins go to universal basic income recipients every month. Universal basic income, that's just providing tokens to people every month. It is under the idea of that everybody should be entitled to a basic income each month, right? So with the popularity of that idea, especially in modern times with our global pandemics, with the rising threat of automation and job displacement, we believe those are driving forces to create tremendous users and accounts, right? And that seems to be what's happening even without spending a dime on marketing. It would seem that people are just organically joining the project, right? Now, as far as, you know, looking at something in terms of what the future of BitcoinNYK looks like, will it continue to grow accounts and user accounts in the cryptocurrency? I believe so. I believe that will happen. But of course, one big issue with ideas like universal basic income, and if you're gonna have these cryptocurrencies going out every month, one idea has always existed that if you give out something free, it has no value, right? And under certain circumstances, that is true, 'cause we can get it free, why pay for it? However, when it comes to cryptocurrencies and networks and the ability of a network to facilitate the transmission and transactions of value globally, at high speeds and low cost, we're talking, uh, something different in terms of what can drive value besides just getting free wallet and getting free cryptocurrency, right? Um, so we believe what's happening is the network value is growing by the user base. Uh, if you kind of think in reference to normal social media, mainstream social media, What you get oftentimes with that is you get the, that you use it, but you never really pay for it, right? So the servers cost money, the electricity costs money, the programming costs money, the marketing costs money. And getting all these people on these social media sites and getting accounts, someone had to pay for that. Even though we didn't have to pay directly, uh, someone had to put up the money. So it's no different, um, with these type of projects here that, uh, there is a cost even if you might think it's being given away free. Now, the— what happens is over time those networks have grown so big that they found ways to monetize, create revenue, and some are now worth almost a trillion dollars, as we well know. So I think that the idea of the freemium-based model would have to work that way. And I think BitcoinMYK is kind of tapping into that. Whereas dealing with inflationary rates and cryptocurrency has been the conversation of debate for some. Some people believe that inflation can stimulate and grow economies. Some believe that you know, more of the Austrian economic school that, you know, deflation, less coins is better because there's less selling pressure. You know, based on the model, it's gonna vary. And just, it's a lot of circumstances that you don't really get a black and white answer with that. But for us so far, coupling universal basic income with our deflationary model that works similar to what you get in the Bitcoin halving, where the supply of the coins get reduced based on schedule of transactions, whereas the Bitcoin halving, it happens every 4 years. Ours happens on a schedule of transactions, how many transactions are done. And this balance against the network, I think, is what's causing Bitcoin and Litecoin to not only grow but have actual trade value in the cryptocurrency itself. You know, to understand that networks themselves are valuable. I think the, the common idea for us, especially cryptocurrency, has been create a cryptocurrency project, then get people to buy your cryptocurrency. Whereas Bitcoin MRK says something different. It says, Join BitcoinMYK, we will give you the cryptocurrency. So this is a little bit different. This is based on a freemium model, and it is a tokenization of the value within people that's already out there through their activity, through their attention value, through their, basically their, the value they bring to the network, right, and their contributions. And so in that scope, then you kind of understand how BitcoinMYK has arrived at that. If you'd like more information about BitcoinMYK, be sure to like and subscribe to our videos, tune in to the channel. You can also follow us on the Hive Esteem blockchain, our posts, our accounts, our and learn a lot about where we think we're going. Where do we see a future with like Bitcoin and YK? Well, let's just throw these numbers at you and you can, um, consider this, that about 80% of the globe, according to our research, would probably say yes to a universal basic income. Now if you get a large amount of people, think about what you need more than anything cryptocurrency. He with the most wallets is who wins. Why? Because the people with the most wallets are going to be easier to target for vendors and merchant services and commerce, right? And just moving value to and fro. So if you want to send money across the globe to someone fast and almost free, very cheap, uh, overstepping the banking wire transfer services and many of the money transfer services. What you're gonna need is you're gonna need the people that you want to send the value to, to have a wallet, right? So if you don't have a network with a lot of wallets, then they are outside that channel, so to speak, right? They're not within the channel of where you can, they can be effective value transfer vehicles, right? So that's why you need the wallets and you need a lot of them. It's looking at 80% of globe's probably going to opt for UBI, not be against it. They're going to probably get these wallets. You know, Facebook managed to acquire about, uh, 2.5 billion users. And, uh, um, uh, with the social media integration we have, there is no reason why we couldn't replace Facebook or at least achieve billions of accounts, right? Uh, there doesn't seem to be anything we can think of that would prevent us from doing that, right? We believe the demand would be there, the need would be there, the use would be there, the curiosity would be there, sense of urgency would be there. So many things would be there in order to want to use our cryptocurrency. Considering all of that, I would say the future for Bitcoin MYK looks very good with a lot of accounts. The tokenomics of Bitcoin MYK, again, bringing in the idea of the Bitcoin halving into it, you know, makes it very against that growth rate can make it a very, as far as value and trade-wise, we could see a formula there that works quite well for the investor and the participant. And this is going to be very important in understanding something like a market cap of Bitcoin. That's worth hundreds of billions of dollars. And that by us inheriting the Bitcoin ledger and allowing Bitcoin users to now, without disturbing their Bitcoin, claim the Bitcoin MYK value. What that does is that creates an opportunity for some of that Bitcoin network to absorb in the Bitcoin MYK, faster transactions, a lot more efficient than Bitcoin without swapping Bitcoin for some other altcoin, something a lot of Bitcoin holders don't like to do. So very interesting project. It's going to be very interesting to see how many accounts we get, how we march off to the future, what it looks like. And you can join today absolutely free. Get that free value today is what I would encourage you to do. But 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.