Hive Pumps! Stable Coin Needed - BBD Lock In!

Welcome back to the channel. I hope you're having a great evening. So the Hive, the Hive coin price, it pumped up today. I think it went as high as about 79 cents, something like that. We had this happen the other week with the Hive coin price. I think it might have got as far as the 90-cent range or nearly a dollar. And, um, it came down, came down a great deal. It came all the way down to about the low 40-cent range, and today has went up over 40-50%, and it's around— excuse me, it's around, um, it was somewhere around at the height around about 79 cents or something like that. So what I did last time that happened was I was able to lock in my gains in stablecoins, right? And, you know, with these projects, you know, they're always going to be, you know, questions as to what do you do. Yes, the coin price is going up, but if you don't lock those gains away some kind of way, that price realization for you may never come to fruition because in several hours the price could drop. It could— the next day it could be down to where it was before. We don't know any of that, but what we do know is we have an opportunity now to do something. And I did, and the last time I was able to lock all my gains around the 85-cent mark. Now it was the right move because the Hive hasn't gotten back to 85 cents since then. Um, and, uh, you just have to decide, um, you know, how you've analyzed the Hive project, where you, where you're at with it. Some people believe it could go a lot higher. I believe that Hive is dealing with a, a large amount of inflation each year, and it's going to be very difficult to do that. Now, that can change, but it hasn't changed yet. And, uh, you know, obviously, um, the, the way that the Hive project is structured with blogs and the earning of the blogs, and then they get the revenue from that and they sell the revenue. Some people do, and some people lock it up in Hive Power and what have you. But what the Hive project feels like, feels to me like, is it certainly feels like an earning project. Now, this is different from what what you're gonna get with your Bitcoins and your Ethereums and these type projects, because you have where people can create these, get paid for these blogs that they write every day. Some write several a day and they're earning this money on it and then they're, you know, they're selling it, right? So they can just create more and more of the blogs. Now that I believe that's creating a lot of inflation and I believe that's gonna create some problems price restraints for Hive. And but that's just how it works. And that's been what's been driving people to use products like that. And it is an interesting project, but some of the errors I think I see with the Hive Coin project, what works better for it is would be something like a stablecoin. And it's an easy explanation as to why that would be. First of all, if you're creating some type of content, Think of it like if you're being paid on a job and what if I were to tell you something like, oh, okay, when your paycheck rolls around this Friday, you've done the same amount of work, but I think I'm going to pay you half of what I normally pay you. I think I'm going to pay you a tenth of it, or I may pay you twice as much. I just don't know. I'll decide when Friday comes around. Well, many people would choose to have a more steady paycheck, correct? You would want to base your life around what you think the value of your work's gonna be. And so in earning projects like what you get with Hive, I think what's become quite clear to me is that some type of payment in a stablecoin would make more sense. Now, some people may agree with that, they may not agree with that. I think they are, they have what is called the Hiveback Dollar, and I think they're working on that right now in order to try to improve it. I think it's gonna be set up in a way you can earn, have some earnings from it, payouts better than your bank, gaining interest from locking it up in a savings account. And those are interesting ideas, they certainly are. And certainly many stablecoins exist. I'm kind of pretty much talking about the Hive Engine exchange right now, in relation to Hive that's on there and people trading on there. But this can apply to, you know, pretty much any, you know, any person using the Hive coin. But in situations where the Hive price spikes up like that, some strategies would be to get it in a stablecoin, or if you're earning off a blog, some people would prefer to earn in a stablecoin, meaning that they can pretty much see that the value of their posts are gonna be, you know, the payouts are gonna, you know, the money's gonna be stable when it's time to get paid for the post. So that kind of makes a lot of sense to people though, to want something like that. But if you look at like the Bitcoin MYK backed dollar, this is our project now. This is kind of, you know, it kind of reminiscent a little bit of Hive, but it's a lot of differences. Like for example, if you look at something like the Hive backed dollar, it's going to be paying out, you know, from the inflation. Okay, one of the big issues with that, what is the value of the inflation rate, right? What is the inflation rate? And who knows? Nobody knows, right? So they're they're paying it out. Um, we don't really know what that's going to be. Some people say they know, most people agree they don't know. Um, and it's a similar thing with the Bitcoin NYK-backed dollar, but the difference is the Bitcoin NYK-backed dollar has this relational value to the amount of accounts it has and how much the accounts grow month by month. So there's this relational value to how many more new users are coming in, who's doing what, who's buying more tokens. That kind of creates our inflation on Bitcoin and YKB, Bitcoin and YKBAC dollar. And what you have then is you have not only a pretty much a cryptocurrency with a stable, pretty much a stable price, but you have one that is increasing its buying power. So that's kind of like saying the same thing, like, okay, well, if the value's being inflated, right, in the Bitcoin and YKBAC dollar, then that is to suggest now you have more spending in power, you have more Bitcoin than YK bad dollars. And that's, that's how it correlates with that. I'm not 100% sure how the high bad dollar works, but I do know, you know, if they're just printing, uh, this inflation out, but there is no growth, there's no more users, there's no more new money coming in and so on and so forth, then yeah, you're going to be printing out more money, but that doesn't mean much to the you know, to the buying power. You might print out more, but you might have less buying power, right? So with the Bitcoin NYK-backed dollar, I, I, I think it kind of addresses that in that way. The other part is the Bitcoin NYK-backed dollar is part of another project. They're pretty much one the same, but the Bitcoin NYK token is the native token to the social network where the accounts come in. You can advertise with the token, you can promote with the token. Uh, it's part of a Bitcoin fork. It has a UBI program, Universal Basic Income program, uh, based into it, which also creates the ultimate airdrop or the ultimate mass adoption vehicle, right? We, we already give away, uh, many of our tokens for marketing and promotion. We call them airdrops. Universal Basic Income is the ultimate airdrop, right? So what that does is that builds up your network, right? It builds your network up. And, uh, with universal basic income being such a hot topic right now, to envision, uh, our network having a million people, a billion people, doesn't sound far-fetched, right? It, it— freemium services. When I'm speaking of freemium services, I'm talking about people who use products and services. Similarly, it's no cost upfront to the end user, but from their attention value and just being there, they create value in the platform. We find a way to extract that value and recirculate it back into the cryptocurrency. Now that, uh, pretty much is the token you get in the event that the Bitcoin NYK-backed dollar market isn't solvent, because we also get that a lot. We get, well, how's this being made stable? Who's making this stable? Where's the value come from? And so that's, that's how we're able to derive that value. And in addition to that, uh, we also think it's more pure, a more purely based cryptocurrency. And I don't like to use the word stablecoin, I like to use backed dollar because The differences are, uh, this is backed by another cryptocurrency, whereas you look at something like Tether, it's backed by the US dollar. But isn't that kind of oxymoronic that you would back a cryptocurrency by a fiat currency, right? Remember, a fiat currency isn't really backed by anything. So that's a little bit oxymoronic. What the Bitcoin NYK project is saying is that the Bitcoin NYK-backed dollar is backed by the new accounts, the networks, the people there, right? The people there. And there is no manipulation of the dollar similar to what you can get in the, uh, your normal governments and economic systems. Um, all that being said, there are of course risks. And what are the risks? The risks are the Bitcoin NYK-backed dollar market itself could collapse. The Bitcoin NYK-backed dollar tokens could then be redeemed for the Bitcoin NYK token, but the Bitcoin NYK token could have very low liquidity or it could begin to collapse. So there's no such thing as a safe investment, guys. And what the Bitcoin NYK-backed dollar is proposing, especially in a situation where you might have something like a big spike and a run-up in Hive. Let's, let's run a scenario like today. Hive goes up, uh, 79 cents. You're on the Hive Engine exchange. There are no stablecoins here. Uh, you can try to do arbitrage, you can try to send it to another exchange, try to get it to a stablecoin, but that's taking time. Every moment you're wasting, uh, the price is starting to drop. You're having a hard time locking in your gains. If you're on Hive Engine, you can get your, your Hive very quickly into the Bitcoin MYK-backed dollar. Now, if the price of Hive goes down, you've now been able to buy more Bitcoin MYK-backed dollars in that short period of time that you couldn't buy before, right? Again, it's not risk-free, Uh, but, uh, your risk at this stage is if Hive is at 70, 80 cents and it drops 50%, those realized gains are gone. You can't get them back, right? You can only think about you had that opportunity and you lost it, or you can attempt to put it in the Bitcoin MYK back dollar. That way you can lock in those gains. In a perfect world, provided everything goes right. Now, so far everything is going well with the Bitcoin NYK-backed dollar. It seems to be quite solvent, uh, um, you know, but there are no guarantees, right? It is backed by the Bitcoin NYK token. Bottom line, if you don't believe in the Bitcoin NYK-backed token— or I'm sorry, the Bitcoin MYK token— then you probably shouldn't believe in the Bitcoin NYK-backed dollar, because that's what it's saying. That is where your your protection is. If the Bitcoin and YK back dollar, the confidence in the market itself fails. Oh, excuse me guys. Speaking about falling, my mic just fell. So if you understand all that, there are risks, but these are calculated risks. And how the projects perform so far, it could be the difference in you keeping a hold of those gains you lost or losing them, right? Also, if you're on something like Hive Engine or, you know, or something like that and you want to try BitcoinNYK Badger, just try it out and you got your portfolio, it is a good idea. It is safe to try with a portion of your portfolio you can risk. It could be 5%, it could be 1%. But you can test out the BitcoinMYK Back Dollar project in a way that you can protect yourself and have an ease of mind about what happens if the BitcoinMYK Back Dollar isn't solvent and it can't protect your gains, right? If you redeem to the BitcoinMYK token and you can't get your money out or something to that effect. And I'm just saying all of this because it's all a risk. And well, you gotta come in here, you know, with that attitude and with that mindset. Also, you know, if you got your money locked in a BitcoinNYK backed dollar, it goes up a great deal. You know, I would imagine you're gonna be able to get some of your money out, if not all. And if that were to happen, you're probably gonna still be protected a great deal on the way down. From the cushion of the extra Bitcoin NYK-backed tokens you were able to buy. So I would say, especially starting off with Bitcoin NYK-backed dollars, start off very conservative. Get the hang of it, buy a few tokens, see if you like it. They're only a few bucks each. And, uh, see how it goes for you. See how it goes for you. And in the event something like that happens and the token has to be put to the test, If it works out great for you, fantastic. If not, you're prepared for that. You risk what you could afford to lose. Either way, you probably gained, uh, gained or lost the, the hive realization of the spike in price and so on and so forth, right? Um, it is possibly a solution for that, you know, and again, I want you to also consider all those disclaimers that you can lose all your money, right? Always come into cryptocurrency with that mindset. But that said, very interesting. It's been working for me, uh, with me, how I've been locking away some of my Hive gains. And, um, you know what I mean? And my, my thought process when the price of Hive goes up, when it gets— it usually doesn't get too far either above a dollar or something like that. So, you know, your worst case scenario, I think if you try to use a strategy like the Bitcoin MYK back dollar is, uh, you know, you might— let's say you lock in around 80 cents, it goes to a dollar. So that was 20 cents additional, uh, 20% additional, um, value you could have gained. But, uh, you protected potentially losing, uh, you know, all of your gains, right? Uh, you know, or if it fell down, it fell down, um, you know, back to the price point it was at. Now you're back to square one. If you got in Bitcoin NYK/BAT dollar, now you have so much more liquidity in the Bitcoin NYK/BAT dollar, and the tokens were purchased at that price while Hive was up. So that's very, very much something you should definitely consider. And I think, like I said, they are working on, you know, stablecoins with the Hive, with Hive engine, so to speak. But I don't really see a lot of people using them right now. A lot of people just trying to, um, you know, see what happens. But, uh, if you're like me and you just can't stand to see the price of Hive go up so much and you lose all that money that quick in a few hours or the next day, then this may be an option for you. And it may just be a good idea to try it anyway because There are some great things with BitcoinNYK, the back— BitcoinNYK, the token project, and the BitcoinNYK backed dollar, because as the network grows, there's more inflation into the BitcoinNYK backed dollar. So it acts more like an interest-gaining token, right? And so it's like you're not just letting your money sit parked there. You are earning what would be ideally or in essence, interest on, you know, on that, on those tokens, right? And paid in the BitcoinNYK-backed dollar redeemable for the BitcoinNYK token, or you can just trade in the BitcoinNYK-backed dollar market. But that's all I want to bring you. I'm sure you're going to find this useful. A lot of people already have, and I don't think it will be an exception with you all, but you should try it out. 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, as always, take care.