Mykos Coin - " The Use Case" Empire Kred Comparison

Hey you, welcome back to the channel. And guys, today we're going to talk about Miko's Coin, its use case, and its comparison to Empire KRED. So what is Empire KRED? Well, it was formerly known as Empire Avenue. And it's— this is a very interesting concept. What it is is a social capital simulated stock game. So we had learned a lot about Miko's Coin and the idea of social capital. What is it and how does it work and fit into this game? So they're simulating a stock game. However, it's not companies that are values that's being traded, it's social capital. And how do they factor this? Well, they're factoring it across social media platforms, activities that are going on within the site itself. So it's a very interesting concept. They've kind of found this way to monetize your social capital into this token they have called and Eve or Eves, right? So very interesting concept. So let's hold that thought and let's get into the use case of Miko's coin. What is the actual use case? What are we supposed to actually do with Miko's coin token? And then we're gonna see what comparisons, if any, we have to Empire KRED. So let's, let's first of all get into the use case. Mikos Coin is a cryptocurrency which will convert user activity into tokens. The proof of participation model, PoP, this attention-based value will be verified through consensus throughout several blockchains of activity. Mikos Coin addresses issues in the cryptocurrency space such as marketing and advertising. Okay, so let's hold that thought. Marketing and advertising, right, in the cryptocurrency space, is that important? Or do we kind of shift back to, is this another redundancy coin, meaning it's many coins already doing this and here you go into this space? Well, for First, I think we will have to kind of frame a question of, do we feel it's already too much advertising and marketing going on in the cryptocurrency space? Let's frame the question, do you feel that there's too much marketing and advertising going on in the cryptocurrency space? Do you then feel that way? In the business world, it's kind of interesting. I don't much hear about there is too much marketing. I sometimes hear about an overextension in marketing budgets. In some cases, there may be such thing as too much marketing, probably meaning maybe there's been a lot of marketing and advertising going on, but the sales haven't been comparable. It doesn't seem like the particular type of marketing has yielded results. But it's very rare that I think I hear companies ever say something like, we just got too much marketing, we just got too much. Not that it doesn't happen, but I'm just saying it's kind of rare. And I think in a use case like, or in the area of finding use cases, we will want to determine if that is true. Right, and if that's something that we need to be concerned about, is it enough of that? We're in the idea of the redundancy coin. You know, sometimes I think it might be an idea of an oversaturated coin that's doing similar things people are already doing. So that's just a question we'll have to hold off and think about. Is the marketing in the cryptocurrency space enough to begin with. So, uh, let's, uh, uh, what comes to mind, uh, I'm thinking about Bitcoin Cash. And, um, uh, say what you want about Roger Ver, but I, as I understand it, Roger Ver's coming out with a movie about Bitcoin, right? And I'm, I'm pretty sure, I'm kind of guessing ahead here, that when Roger Ver does this movie, he's gonna mention a lot that Bitcoin Cash is the real Bitcoin. I think you could pretty much put your bottom dollar on that. So a lot of the attention that might come with this movie is probably going to be the Bitcoin Cash gonna get a lot of shine. And you know, the thing is this, Bitcoin gets mentioned a lot now to the point where Your, your average passerby has heard the name Bitcoin. He knows what it is. It's on CNBC just about every day. But the majority of people still don't know what Bitcoin exactly is. So what does that tell us? That tells us right there that the marketing and the reach and the advertising, even with Bitcoin, still hasn't reached enough to where people really know exactly what we're talking about here. There's still not enough exposure, right? So, so let's talk about the— let's look at this Empire KRED thing since we kind of understand we're dealing with advertising and marketing now as a use case. Let's kind of look at Empire KRED and see where they fit into this and if they have anything to do with Miko's coin. So we mentioned this social capital simulated stock game, and we can see right here, this is a diagram. This is a picture of Empire, um, uh, KRED. And you can see there is a, uh, a, it looks like a, uh, a, what would appear to be a stock price. And you can see shares down here. Well, and we're looking at this diagram, but let me just read— let me finish reading the use cases of Miko's Coin, and then it's going to break into the similarity here of, uh, Empire KRED, and we can better form a clearer use case and understanding of what Miko's Coin aims to do. So Miko's Coin hopes to better promote cryptocurrency through serving marketing and advertising needs. The coin plans to reach out and bring people into the cryptocurrency space by simplifying and reducing learning hurdles in their introduction into cryptocurrency. Miko's Coin, through an attention value model, will allow the cryptocurrency community to place ads and generate tokens from viewing ads and participating in offers on site. The attention placed on the site and activities will be converted into MECO's coin. Through activity and social engagement, MECO's coin users will now have a token that can be used to place ads and purchase items. MECO's coin has similarities to Empire KRED, which uses a social capital simulated stock game. A non-affiliated blockchain token called Eves are used. These tokens can purchase features on the site. These social engagements and activities earn Eves and value them also by use of widespread social media platform engagements such as Facebook, Twitter, YouTube, Pinterest, etc. So basically what, what we're understanding here is Empire KR KRED, uh, and I believe I'm saying it right. It used to be formerly Empire Avenue. I'm not sure if they pronounce that Empire Cred or Empire KRED, but what we learned from Empire is that it— this is not a blockchain token. They have a website token, but it's not a blockchain token. Um, I think it would make a great cryptocurrency But, uh, it's not that, right? This is a real standard company doing this, and they've been doing it for a long time now. But as you can see, how they're gaining this stock value, right? Uh, uh, or the social capital value from individuals is through the social media platforms they use. If you look right here, You can see the Twitter icon, the Facebook icon, and then this E, which stands for EmpireKRED, which is their own, the, um, the social engagement you actually do on the site. But based on, it's kind of doing this compare, comparative model thing, kind of like what, what we term consensus value method, right? They're doing this thing where they're gathering up a score into what your, your, the value of your social capital is gonna be worth and people can buy into it, right? And as they buy into it, it goes up in value. Same way that when people buy into our cryptocurrencies, they go up in value. Now, what I don't quite understand about Empire Kred, is that I have no idea how they factor this algorithm in comparison to Miko's coin. Um, we— our consensus value model, how we come up with the value of your social capital, how we come up with the value of the token, is— and your activities that you partake in— is, is based on what the blockchain's say those activities are worth. So they say it's worth such and such in their token, they give us their token, and we give you the equivalent of that token in our token. So we're simply agreeing with the value they came up with across blockchains. But the similarities are here in that you do see that they're using other social networks. We are using other blockchains that are set up like social networks, right? So it's a lot of similarities there. That is very much true. Very interesting too. So let's dig a little bit more into it. So, you know, as we see that people are finding use into this, but why are they using this site? Why? What are some reasons why they would use Empire KRED? But let's read this next section of this and try to get some, a little bit more understanding. Here. Miko's Coin, in similar fashion, uses blockchain platforms and user activity, uh, to evaluate the price of their engagement into Miko's Coin. User time is tracked on the site, so through metrics of past results, Miko's Coin values the amount of hours users placed on the site and adds revenue that was collected from the hours. These metrics are both determined by a value consensus model from other blockchains, advertising companies across the cryptocurrency space, as well as value of offers from other blockchains offered. All these factors allow a value to be reached standing in agreement with other blockchains and advertising companies across the cryptocurrency space. A token is then issued representing the value of these activities. So This is kind of interesting as well. Uh, we get down here, uh, but well, first let me explain what that was saying. Um, that was basically saying that we are similar and that we reach across these, a variety of platforms. But, uh, again, the difference is our, our valuation is based on whatever the blockchain say. Whereas, um, Empire KRED, because it's an enclosed ecosystem, meaning everything that comes in there, uh, is, uh, is kind of just set against, you know, their value system, uh, you know, however their algorithm works, um, you know, that, that token's gonna— that value of their token is gonna be used only in that ecosystem. And why, why would people want to use that and what for? Well, what, what happens is these tokens, these ETHs that you collect, they allow you to advertise on the site so you can unlock all these various features. You can do these, uh, things, things called missions where people, uh, can visit your websites and do various things, and you can pay, you pay them, uh, in these tokens, right? And because they have this ecosystem that's attention-based and people are there to play this social capital stock game, you can, you're basically advertising your products to them at the same time, right? And so that's how that works. Now, what we're looking at here is kind of blurry as I took this copy of my page here. It's basically showing that Miko's coin holds millions of ETHs. And here's the disappointing thing. This, uh, this is something I wish we could change, but we only deal with cryptocurrency. We hold millions of these tokens. Um, prior to that, uh, I had another account with them and I'm sure now it would be worth billions. It was worth hundreds of millions years ago. And you can take these tokens and you can get people to visit your website, visit your products by paying them in these tokens. You can use these tokens to promote your own products. You can use the tokens to pay for shares in other people's social capital shares, if you will. And so they have this ecosystem operating on this based on this simulated stock game. And why I'm a little bit disappointed is because we got these millions of ETH that are obviously of real value. I mean, real monetary value. You know, you can use these things and it can generate you money and value. But because we are strictly cryptocurrency, we don't use these EVE tokens to prop up our value, even though it's doing that anyway. So this is something that should be added to our value that is not, because we only plan to deal in cryptocurrency and we use this only as a way to further promote, uh, Miko's Coin. over that space as we have to spend our, our ETH on something. But I find that very interesting, and I really like their model. And I think that's why we're bringing this into the cryptocurrency space. So there are similarities, but then there are differences, and we're going to get into that. And in here, in this next, um, this next excerpt is going to explain to us a little bit why we're different. Than Empire Avenue, yet I think we have many of some of his great attributes. Miko's Coin differs in that it won't require a stock simulated game. As a cryptocurrency, the token trades on the Waves decentralized exchange, and users in real time have the ability to gather data and the value of the token as well as their contribution in comparison to the tokens they have generated. Mikos Coin, in similar fashion, does work as a hub to other blockchain platforms. These platforms that offer tasks generate value from our value consensus model. They issue tokens which are then value-wise given back in Mikos Coin to the end user. So let's, let's cover that a little bit. So It differs. Miko's Coin differs in that obviously we don't have a stock simulated game. And the reason we wouldn't have a stock simulated game is it really kind of would not be necessary because whereas within the Empire KRED ecosystem, it is necessary to have their own type of exchange, if you will, to buy and sell shares within themselves. We simply do that, perform that same task over decentralized exchanges, right? So as you gather up your social capital, your contribution, your activity to generate these tokens across blockchains and on our site, you actually can— you just trade it on, on a decentralized exchange, right? So we don't have that part. We don't have stock simulated games, but we do have games. And what's the importance of having games? Well, think about why Empire KRED would need a game. The game is to hold you there on the site, your attention. And, and, and while it's there holding your attention, you're there playing the game, but at the same time you're tapping in, you're using it as a hub and you're conducting your activities across Facebook, across Twitter, across YouTube, and all of that's going back to value and give you a higher, uh, sure, uh, um, social capital price, share price, uh, and, uh, that's making you more valuable socially. It's a social capital game, uh, that's where we're trying to go with Miko's Coin. We're trying to change people's thought process on the monetary system and to understand that your social contribution and capital is value within itself, is worth money, is worth a lot. But up until now, many of us haven't really in an aggregate form tried to value it because it's not tangible. It's very hard to wrap your mind around. It is very illusionary. Like, like, uh, like money is, right? It's only our traits and our, uh, concepts that put value into money. Otherwise, just a piece of paper, right? Um, so those are the differences. So let's— so, so we know what causes people to stay on and even use Empire Avenue. The incentive is you're kind of playing this trading game with your social influence and capital, and you're watching it go up and down. You're going, oh, that's interesting, I have this much, uh, influence and capital across the social aspect of things. And that's interesting to some people, and that kind of holds their attention. And so it's like a game. And, and, and, and so games and entertainment are actually are, you know, interesting and they keep people on a site. And this attention is worth money and value because, you know, obviously you can have advertising running and you can have various things going on with them. They have a system where they're advertising themselves and they're putting out ads themselves and various things like that by use of these tokens. So let's get down here, and this is kind of blurry, but what you see is the front page of Miko's Coin and First, in the first part, you see ads, but then you see games. These are a list of games that you can play. And what's happening as you're playing these various games, as you're playing these various games, you're actually getting, and that is quite blurry. Let me zoom out a little bit. But as you're playing these games here at the top and these advertisements at the top, this is holding your attention and these ads are running. Now these aren't company ads, so to speak. These are ads that are from in the cryptocurrency community. Community, right? And they're, they're paying us in cryptocurrency. So that's one way we're using that value through our, through a metric where we've estimated how many hours you invest into the site per day. And we use past results and, and, and past statistics to factor, well, okay, this many hours were spent on this site collectively. We can calculate the amount of hours plus the, um, the amount of compensation we, we receive from ads, and we come up with a type of formula that allows us to have a pretty good idea how many hours you need to spend on our site, on our pages, to earn a certain amount of cryptocurrency. So that's, that's how that's done. But if you drop down lower here, you see all these various icons from other cryptocurrencies, other blockchains, and most of them are, are some type of social network or a BitCommunity platform or something like that. Okay. These are offers where you complete small tasks. We're awarded tokens for you completing the task as well as you are. These tokens are then replaced with our own token, right? So now we're able to get a value across your social capital and participation across the blockchains. This is where it is similar to Empire KRED. Right? So I guess what this boils down to when we're talking about use cases of— and I invite you all to read the white paper in this, in this, you know, in this entirety. It's, it's also some very other interesting things, but we just want to, you know, keep this specific to Miko's Coin use case so people really get this and really understand why this is a different token, why I think it's a much-needed token in this space. And why I think a lot of people will begin to understand why we need easy user interfaces to get people who don't know anything about crypto easily into cryptocurrency, get them trading cryptocurrency that is valuable, not necessarily because they got to go in their pocket right away and take a risk. That's another thing I think is kind of been problematic in the cryptocurrency space because that as soon as you mention cryptocurrency, a lot of times people's minds immediately switch to, oh, this is some kind of risky investment where I got to put money in. We got to learn to think out of the box sometimes. We got to start to see that there are ways we can make money by velocity of money or create value by enough people using tokens and moving them around, moving them around enough to where communities see them as value and are willing to trade and barter with them. Right. And that doesn't always require coming in and being and taking a big risk on some risky investment with a lot of a little economic theory and thought and creation or creativity. I believe we can create ways to get masses of people in the cryptocurrency, generate massive amount of money through attention value, so social capital type means. And that's what we're pushing here at Miko's Coin. So, uh, give me a like if you understood this video, give me a comment if you understand the use of Miko's Coin. And until next time, guys, you know it, take care.