Hive - First Venture Capital System - Not The DAO

Welcome back to the channel, and I hope you're having a great day. Excuse me. So the first venture capital system on Hive, this might be some of the most important, uh, news that we've received in quite a while because this is addressing a very important topic in cryptocurrency, and that is not only, uh, the funding of projects but how we fund projects. It's very important how we fund them. So there are a few things we've discovered on the Hive blockchain. First, we've already discovered that the infrastructure to fund projects is already outlaid on Hive through its upvote system. What is happening is every account on the Hive blockchain has a certain amount of value, although that value is different depending on the account The ability for that account to move value through the rewards pool system exists on every account. As the value of that account grows, uh, the more, uh, value it can put out, right? And so everybody has their varying levels, right? There are also things that could be done, like you can, uh, basically, uh, lease, uh, delegated Hive power to give you more of the influence and value to give out for a period of time, as many people know who use the Hive system. So the infrastructure is already laid out there. When Hive created the DAO, we also, uh, got to see that very similar components of that system was already in the infrastructure, but it just needed to be directed to on the system of how you choose who receives the funding and so on and so forth. So let's talk about why this is a lot different than the DAO. I think it's better than the DAO, makes more sense. But let's talk about how the setup of it works and how it allows everybody to participate and the various differences. So first, let's read the instructions. Let me try to blow this up. Um, And let's see here. Okay, so the instructions for the project is as follows. Everyone is going to be able to add their project for a fee of either 20 Hive or, um, 10 Hiveback dollars, right? Um, probably want to take whichever is more convenient, whichever is more— there's less. We're trying to keep them, uh, somewhat in the same ballpark. The system's just letting you know we accept Idle Ore, right? Um, the fees will be converted and returned in the form of BBD coins. All fees should be paid to Hive account and so on. So, so here's the importance of that. To fund this project, there are several reasons why we want to use a second layer token to do it, right? The reasons are, and you have to understand this, is that in using a system like this, what we're gonna have is ultimately the values that are coming in through the Hive upvote system are at the end going to be determined by the community. If they wanna downvote the post, if they wanna take from the post, or if they wanna give over more value to the post, whatever the case may be, the infrastructure for us to go in and fund projects through upvote already exists. So less— the reason we would need that, say, a second layer token is just going to be a lot more easier to send over the required funding that people are seeking, right? Also, with the second layer token, it's going to be able to in some cases outperform the Hive token, which means that's going to potentially give people more funding value. What we don't want to happen, and, and what's going to be a great risk and, um, a great possibility I'm going to talk about some ways to get around that. Is that if the value of the second layer token falls, which it does quite a bit, right? In any event, even if it does fall, uh, the, the user will only be out of the fee paid to list, which is only going to be the 5 or the, the 10 or the 10 or 20 Hive or Hiveback dollars, right? And they're also in there, and they're actually going to get that back by at least market equivalent in the BBD coin, right? So what that's saying is that you have great chance of getting a lot more value out of this than you put in, right? And hopefully it achieves the outcome of getting you the funding you seek. But here's the important steps to this, or the important points to this, and that is that it's going to cut out the venture capitalists for firm projects like this, which is what you want. Because right now, venture capitalist firms, they're only approving very small percentages of the people who apply, right? They have a, uh, even a smaller, uh, group of people who can determine, uh, who gets the funding, right? So there's so many moving parts to that that we need solutions to how we fund these projects. But let me read this part off to you so you can get a clearer picture. You submit your project below after you've paid the fee. Your post will be reposted on the Hive blockchain. And what we're— what the system is going to get, it's going to get 10% of the total post value. That is correct. There's going to turn around and pay you in this BBD coins. That is correct as well. But what you're going to get out of that is you're going to get hopefully the marketing of your project, more marketing of your project for absolutely free, right? So you're not gonna have to pay for the marketing. All you're gonna have to do is post, put up the 10 or 20 Hive or Hiveback dollars, which you will get back equivalent in the Bitcoin NYK back dollar, right? Now here's the other part of this. A lot of times what happens is What is the order in which funding is received? Right now, the order in which funding is received is going to depend a lot on how many upvotes you get. Now, this is going to be totally different from the Hive DAO. With the Hive DAO, what you had is you had to reach a certain, uh, point of funding, right? And then every week they raise that to a ridiculous amount of money where you're not going to get any funds, right? Um, we're going to do that a lot different with this project, uh, if you got, uh, uh, everybody's gonna get, uh, the kickback in the BBD coin from their posts, right? Each week as we market these posts. Um, now let me read the disclaimer. Paying the funding fee is no guarantee your post will receive the funding, right? Um, as I say, maybe nobody upvotes your content. Over the post. The only value given will be in the form of the BBD coins, uh, and they will be determined by the third-party exchange, much like every other cryptocurrency, right? We don't know what the price of Bitcoin is going to be from day to day. We don't know what the price of Ethereum is going to be. But what we do know is that, um, if you have the coins, as long as you have the coins, uh, you know, you haven't lost anything. And, and if the market does go down, maybe it turns back around, you can sell and get some value. But I want to point out the most key parts of this and the most important parts, and that is to replace venture capitalism, right? To replace it all the way, put it in the power of the people who determine what we want to fund. Now, talking about any downvotes or loss of post values, not the responsibility of Bitcoin NYK. Ultimately, the value of posts will be determined by the community, right? And, um, funding posts will be posted every week, which means like until you reach your— the, what you want to fund in the project, every day, every week we're going to repost it out. Every week we're going to kick it out, BBD coins, based on what you get from the post. Now we'll be collecting all the Hive on the post, but the reason that's important, if we keep— if we keep collecting Hive and putting out BBD coins, that's giving you the possibility to get more value in the BBD coin, as the BBD coin market probably has a much better chance of appreciating than the Hive blockchain, as the Hive blockchain is already pretty much established, the price is already pretty much stable, whereas BBD coin has a long way to go up. So that margin, uh, we believe is going to give you a great deal of, um, a possibility to add more value in the coin, which makes it easier for you to fund your project, right? Now, as you can see, the listings will go out. We just got an example listing here as we've submitted our own project here, and it just shows the links of your post, the funds you're seeking, um, and what the category is, right? Um, somehow I've shifted that. Let me hit category again. All right. Okay, here you just fill out the form of your post, your posting link, your site to your project if you have one, how much you're seeking of funding, and so on and so forth, right? So to fully understand it, this is a, a very cost-effective way to market your projects for venture capital, for funding, right? To get the funding. But this is all community done. The system is established by BitcoinNYK.com But ultimately, what gets funded is going to depend on, of course, the upvotes in the community. Uh, there is a voting system. Take you over there. Okay, so under the topics area, you're going to see where your posts will occur. They will also— we will be reposting them on Hive blockchain, and that's how we'll be marketing them to, to get the, uh, actual Hive conversion. But they will also appear here where you will post them in the topics area, the group forum. I'm going to click on here one of our projects here and let you see there is an upvote system. This upvote system is going to determine the position of your, of your post. And I'm not logged in, so it's not going to show that to me, but, uh, I'll take you to another area where will. Okay, on the home page here, and what we want to show you is we just want to show you that there is a standard upvote system, and that's, uh, like what you're going to see when you're logged in and has a diagram of the Bitcoin MYK back dollar. And when people click on that, you receive a Bitcoin MYK back dollar, right? And as you could probably see down here, some people are receiving these upvotes. These are going to determine they're actually gonna determine, and I'm gonna see if I can click on one. I don't think it'll let me do it 'cause I'm not logged in. But what it's gonna determine is it's gonna determine the position, the more upvotes you get, of where your, the funding mechanisms occur, right? So if they occur, you know, if you get a lot of upvotes upvotes rather for the project, then you're— the, the rank of which your project is going to go up higher. What's going to determine the order is democratically how many upvotes you get, not how much your stake is. Now one big problem with the Hive DAO that kind of, I think, was, uh, uh, that kind of devolved the system back into what we get with our standard venture capitalists today. That is the big VC firms, they get to choose the 1-2% of what should be funded, what they think are successful. Whereas in our model, everybody's vote has the same value, right? And the only thing it does, it doesn't actually give the funding or the money so much as what it does, it gives the exposure of where the project's at, and that gives people more chance to want to upvote the content. Now the last thing I want to say is too, that because the community upvotes and it's kind of more grassroots democratic process where based on the number of the value of the polls, uh, you're going to get that in a Bitcoin NYK back dollar equivalent. Uh, we're going to get 10% of value to polls and then there's just a small listing fee. But what, what I want to, uh, uh, important is that to really take the power away from these big corporations, venture capitalists that control our lives, control what projects get funded, where humanity goes, we're really going to have to participate in systems like that. That means you're going to have to upvote. No matter how small your upvote is, you're going to have to democratically have a voice to show that you want to take that back and create more prosperity for the world. And, uh, if somebody upvotes your content, they upvote your post or your project, it is very important, is imperative that when you find out who did that, that if they have a project out, that you upvote that as well. So I don't want to say like vote for vote, but I want to tell you the importance of, um, of, uh, what it means to be able to distribute this value to projects trying to create value and make the space better, right? By building and creating some great ideas. Try to pick the best ideas, but at the same time, if people are upvoting you and they got a pretty good idea and they've taken the time to upvote your project, maybe you need to take time to upvote their project. That's going to encourage them more. That's going to make people more want to vote on your project as well if you're voting on their projects. That's just the way it works. But, uh, should be an interesting project. Uh, that's all I want to say in it. If you're trying to get funding or seeking funding for a project, won't hurt to try this. Certainly won't hurt to try it, and you need to be trying different things, uh, to get your ideas out there, to get them funded. But that's all I want to say in this video. If you like content like this, don't forget like, subscribe. If you have any questions or comments, concerns about this project, feel free to ask us in the comments section. We'll be more than happy to to, to talk with you about it. But until next time, as always, take care of yourselves and each other.