POH - Why I Don't Use It!/ Btcmyk Governance Model

Welcome back to the channel. I hope you're having a great day. So today I'd like to talk about Proof of Humanity, um, and why I don't use it. I've made a conscious decision that the Proof of Humanity project isn't one that I'm going to be using. And so first, to discuss a little bit about what the Proof of Humanity project is, uh, it's become a very concerning project for me, especially, uh, how it works as far as identification. Now, when we're dealing with something like, um, Or let me put it this way, the Proof of Humanity project, it labels itself as a universal basic income project. To me, it seems as far away from a universal basic income project as one can get. And the reason is, is that the parent, company of Proof of Humanity, or the, or the organization that's built the technology, the Kleros organization, really what it is, is it's an identification system, right? And I don't, I don't just mean like in the sense of testing for is there a human being there, because when you look at something like this, or you might think of something like biometrics, or you might Think of, uh, identification systems, various identification systems. That main goal and main objective is to detect a human being there. This project, it goes far beyond. Like, I don't even understand what, what they're doing has to do with a system that can detect if there is a unique human being there. Really, all this is is just uploading data on Ethereum, right? Your photo, photographs, and, uh, your name, video. So they have a very stringent identification process that's actually identifying people, and these people are adding their full names. And so this is doing more than determining if there's a human presence. It's worse than the centralized exchanges. They have, uh, all your identification, and, and they're— and now it's on the blockchain. Um, that's not what I had in mind when I visited this project. I thought that this project would deal with being able to detect unique human beings, um, right? But what it really is, is it's just really us uploading— from, from what I can gather, what it ends up being is us uploading our personal information and putting it on a blockchain. Now, the, the one good thing that's existed with blockchain technology, even if you look at something like Bitcoin, which was erroneously thought to be a system of anonymity early on, Bitcoin is not a system of anonymity. But what Bitcoin is, is it is a system of privacy. Privacy, but not anonymity. Now, something like the, uh, Proof of Humanity project, or how they describe it as digital identity, this is, uh, recordable for everybody, not just an algorithm or the system, but everybody knows that you're, you know, out there, and this is your name, and here's a video, and they could contest if you're, if it's actually you right now. Why would we want something like that? Well, in some cases, in certain business cases, that can work because maybe there's some type of business deal where the entity needs to prove they are authentic to who they are. And that works for business. I got no, excuse me, excuse me. That works in business. I got no issue with that, right? Because businesses are public. They need to identify themselves and whoever's running the business needs to identify themselves. So that, that, that's no problem there, right? But proof of humanity is not that. What proof of humanity is, is it's supposed to be the universal basic income portion of this. And so they're using that identification system. So that basically means anybody who's collecting universal basic income is going to have to fully identify themselves to everybody forever. You know, it's worse than a centralized server. At least with a centralized server, you know, many companies, many agencies will have this document that says something like after 2 or 3 years, um, that data is no longer kept on file. They can't find it. You got to go put it back on there. This is permanent, guys. This is your identity here forever. Um, you know, and, and, uh, um, you know, I just don't think it's necessary for universal basic income. I think what is necessary in universal basic income is the identification of a unique individual, right? And that it is not that same individual, right? And whether you're using some kind of face facial recognition technology whatever it is that you're using, I think there could be a better outcome than this. Also, you're going through quite a lot, and I think the allotment is something like, um, 4 tokens per month, right? It might even be less than that, but I think it's 4. These tokens, these cryptocurrencies, are worth probably 60 cents, 70 cents. Now, will they be worth, you know, thousands of dollars? No, I don't think so because cryptocurrency people, the culture of cryptocurrency, you know, even UBI is problematic in this, but you know, a lot of people accept that it's gonna be better to do UBI on the chain. But to go through all of that for, $2, right? It's about, you know, it's ridiculous, right? So I don't know who's funded this system, but whoever funded it, they probably should have funded it with a lot more money. I mean, they probably should have— this is the type of project they probably should have went to like a venture capitalist, and he should have put up maybe like $100 billion for this, you know, or something like that, you know, no less than a than several hundred million or $100 million, right? Because what this is saying is, and it's a pretty big deal because it's not just universal basic income. Identification on the blockchain is gonna also be about solving the voting problem, right? We know that other nations interfere with elections. Quite a bit. It causes— it can— they can basically control your country through the elections. And so a lot of people have been vying for getting ID systems that can solve that problem. And I would assume that the Claros organization is tackling that as well. But as far as cryptocurrency is concerned, I don't think this is going to work in this. Also, speaking specifically about the Proof of Humanity project, which is a project that is supposed to just represent the universal basic income portion of this, um, the— I don't know who heads up that part, I don't know who created Proof of Humanity, but they clearly seem to me like they're confused between what Proof of Humanity is supposed to be as far as the UBI project and what the Kleros organization technology is supposed to be. Because one's supposed to be this ID system that can have multiple uses, and they seem to be linking— whoever's involved with the Kleros organization seems to have to be kind of intertwined with the Proof of Humanity project built on the technology. And the reason that's a big problem is I'm finding that a lot of people in these entities are confused about what universal basic income is. Like, just here's one example. Most of the people who are going to be opting for universal basic income are going to be what? People with very little resources, people with very little cryptocurrency. Here's what's happening. They're doing this on Ethereum. Transactions are costing like hundreds of dollars just for the transaction. Um, now not only is that impractical, but the people who are participating are probably going to be people who don't really even need universal basic income. These aren't going to be people who need their basic needs met. These are just more cryptocurrency speculators. So, so one great criticism I would have is get people involved with the Proof of Humanity project who really understands what universal basic income is. Right now they're just treating it like another speculative cryptocurrency. I've spent some time in their communities. They're very tribal people, which is, uh, pretty ridiculous for a universal basic income project. And I'll tell you why. What is going to happen with 100% of universal basic income projects? If you're collecting universal basic income with one cryptocurrency project and it's worth collecting, you're going to move on to the next one and collect over there, right? Now that's not what's going to happen with the Proof of Humanity model, right? The people who really need to be involved aren't going to be involved. The people who are going to be involved are going to be more developers, more speculators. And to me, that misses the entire point of what universal basic income is. And you really have to be what I call a real universal basic income project to really understand what it is, right? These people are more concerned about the speculative nature of their investments than creating a sustainable model for the rural population to collect universal basic income. These things aren't congruent. These aren't part of the same thing. Universal basic income people's first, uh, priorities are generally not looking at universal basic income as an investment, right? Um, you know, I don't think the idea is to buy universal basic income cryptocurrency for the price to moon like Bitcoin or something like that. I, I think it in actuality will work better as a stablecoin. Um, uh, it works better through nonprofit organizations. I mean, and I feel they're running the entire system like a complete business that may cause more harm than good for the betterment of the project. I could go on and on about many other things with this project, but That's just scratching the surface that I'm not going to be using this thing. Um, now the one thing I would say with EOS Voice— now if you know anything about EOS Voice, it comes from the creator of Steam, the Steam blockchain, and Steam blockchain later forks into Hive. Pretty much the same people though. Um, Dan Larimer saw a huge issue where people's voices not being heard, um, through these proof-of-stake models, these delegated proof-of-stake models where people who spend the most money on them, uh, control the network. So it's not an equitable, uh, network. It's not one of equality. What it is, is it's a, uh, it's one who goes with the biggest pockets wins. And like in this oligarchy or plutocracy, they control everything. Now what Proof of Humanity attempts to do is they try to, um, have you buy this cryptocurrency to have a voice. So you got to buy this cryptocurrency, you got to pay these high Ethereum fees. Now the one good thing about EOS Voice in the mix of this was that you didn't have to buy the token, you didn't have to fork over all your identity. Uh, you know, in order— so because the whole idea was to keep whales from just buying all the tokens and they're going to do what they always do, just control the network. And guys, what you have to understand with all this and looking at the idea of decentralization, there are some key rudimentary terms in the definition of decentralization. One is delegation. Right, to delegate away from, to delegate away from a central authority. What is the delegate? What is the delegate? Who delegates? The delegate delegates. What is the delegate? The delegate is generally a smaller group that represents a larger group. How does the delegate come to be? And the best models, they come through an election. What they don't work well is coming through is from people who spend the most money, right? Well, we can see many issues with that, and especially in something like universal basic income, you certainly want to get away from that. And the Proof of Humanity project from the jumpstart have failed to do that. I don't think they— I, I I'm ashamed that they're using universal basic income as their theme in this project. I don't think it's that. I think it's just another speculative cryptocurrency that's getting all our information and data and putting it on a blockchain for eternity. That's what I think it is, but I'm not going to go any further with that. I'm not going to use that project, and it's really a shame because I've actually attempted to work with them and try to have a good synergy with other universal basic income projects. Because if we look at something like Manitouka, it was one of the first, still one of the best in my opinion. The founders were saying they don't care what universal basic income project succeeds. If one succeeds, they all succeed. That is not true in the case of Proof of Humanity. They are very, uh, tribal people. They are more concerned about money than feeding people. I don't know who funded the project, but if they're listening to this video, they made a mistake. They should have funded a project like Bitcoin MYK or Mana token. And if the funder came up with the idea to produce that network like that, I think they're going to be in for a rude awakening because I don't think it's going to have the success that a universal basic income project could have in the future. With that said, I want to now segue to the Bitcoin MYK, a real universal basic income project, and speak to you a little bit about that. All right, here on the Bitcoin MYK site. And, uh, what we want to talk about today is the BitcoinNYK governance model. So what you're looking at here is the BitcoinNYK project is the closest thing I've seen to a meritocracy system. And what we mean by that is we use something called the proof of participation model. When you log on our interface, and it's designed to be very easy to use, much like, um, your standard social media sites. And that's done on purpose to have a user-friendly system that is identifiable to people who've never used cryptocurrency before, because a lot of the people who are going to join our platform are going to be first-time people coming into the idea and the concept of cryptocurrency. And we want to streamline and make this as easy as possible for them. So having systems they've used before user interfaces they're familiar with, we find that could be so much easier for them to adopt quickly over to this. So how the system is designed is what it does is it automatically— there's a, what we call an automated curation system that from when a person logs in, they're earning cryptocurrency, right? And what is this based on? It's based on something called attention value. And attention value is that, especially in this day and age of media, social media, television, the internet, everybody's vying for attention. Everybody's trying to sell a product and it's drove many of us crazy. There's not a whole lot we can do about it. It's all around us, right? You walk outside, advertising billboards, you, you, But we came up with the idea that if you have to deal with this, why not receive a tech check for it, right? That data, that information, right? Those sales, those whatevers is something that you contribute to society and we feel it fair that you receive something back for it. And we've seen these models before. This is how many social media networks work and this is what funds them. What many don't do is give it back to the people in the form of universal basic income or tech check. And that's what this system does. It gives you cryptocurrency payments on every action you do on social media, on the site, because everything you do does have a value to it. It has attention value, it has a monetary value, and we've found an algorithm to determine comparably what you should receive with other members and depending on the value it's bringing the site. But today we want to talk about the governance model. What runs— like, how do we determine what gets done on the site? If the entire idea for many cryptocurrency projects is to be the most decentralized, to have great excuse me, governance models. How does ours work and how do we stay and remain decentralized? Well, we spoke a little bit about it in the first segment when we were talking about how the Proof of Humanity project uses the purchase of a cryptocurrency in order to be jurors. And it's like an investment and they're deciding these cases and they're earning money from deciding who stays on the network, deciding who's been identified and who has not, right? And that's the way they choose to do it. But we frown on systems like that because much like many of the proof of stake models that they do conserve a lot of energy, and that's better than the latter to a certain point, there are still yet other models that can not only avoid a lot of energy consumption, but they can still deal in a realm of fairness because once people start to purchase things, then now their money is in control, right? And that is not floating us around democracy. So how our government's model works is that we use a social media profile, but you're actually mining in a sense when you're using the platform, you're earning cryptocurrency as you're doing that. And we have what is called the adjudication group. We have a system where groups are broken off into members of the community and the member owners of these groups. They have become the, what you might determine to be a node runner if you're dealing with proof of work, or if you're in proof of stake, whether it's like some type of election cycle, right? Or some type of random selection of who's gonna mine the cryptocurrency, or whether it's something like delegated proof of stake where you're gonna have elections and you're gonna elect witnesses, or you're gonna have block producers. However you wanna frame all of this, this is the way that cryptocurrencies run in order to remain decentralized so that there aren't any dictators, there aren't any, groups that are controlling the entire network, and we try to come up with governance models that work. What we like about this model, this governance model, our adjudicators, is that all of the groups that get formed, they are able to now adjudicate who's, who's a real account, who remains on the network, who goes, right? And, uh, The great thing about it is that you don't have to pay for it. You have to buy your way in. You don't have to hold a certain amount of cryptocurrency. All you have to do is be an active member who has a group that you can create for free on our system that has a group with at least one active member. Because throughout the process of delegation, remember we discussed earlier, uh, key parts of decentralization have to deal with delegation. Delegates to delegate away from a central authority. But a delegate also has to represent someone. If you don't have any group members, you're not representing anybody. If you have a group with members to your group, you can now officially say you represent people, right? And so that's how our governance model works. Uh, let me read a little bit about how it works. The governance model that allows eligible group members with more than one member to have a group vote to decide on removal from the platform of members who identifications may be questionable. Any member can be formally challenged as to being a unique member and not a duplicate account. Now, of course, the biggest issue with, uh, Universal Basic Income projects is what stops a person from making multiple accounts? We created something called the Eldrick Equation that basically cross-references accounts that are linked to social media accounts, decentralized social media accounts. Uh, they are linked to, uh, VPNs. They're linked to, um, a variety of measures that allow us to determine if that's a unique account or if it's a fraud account. That's the first layer of protection. The second layer of protection then moves into the, uh, community itself, the groups determining, looking at suspicious activity and calling to attention the things that don't look right. When that occurs, uh, whether it's through earning, maybe there's suspicious activity with the earning, member group, group members, or, or, or the member groups can then challenge that person and say, hey, looks a little suspicious. I'd like us to, you know, have a hearing on that and ask them to present more, um, you know, uh, data that they are in fact real people, right? That may come up and it could go to another level of, uh, security where they may even be asked to fax in data that proves it's them and that they are actual people, right? It can get that far. The bottom line though is if the member group decides that, um, uh, they basically decide that you're not, uh, a legitimate person, uh, a real person, then through the group member votes you can be removed. This, this to us, this is one of the best ways to govern a platform. Um, now again in order to further decentralize the groups themselves. People can create a group for free. You can create a group on anything for free, but just remember, in order to have a valid vote in the hearings, in the proceedings, you do need an actual person, real person as part of your group. You have to represent someone. You can't just represent yourself. All right. Um, and so it's a pretty simple model now. What would incentivize people to do that? Well, they will be compensated. Every group created gets 1,000 BitcoinMYK tokens. That could change in the future. There are elections held, um, biannually, which is going to allocate up to 10,000 BitcoinMYK tokens to groups who have received the most votes as being a good performing group, as being active groups, and, and really helping to build up the platform, right? Those type of groups will— they won't receive more vote power. Every group has an equal vote, but they will receive more compensation in the form of the cryptocurrency from the network to— as a, as a reward for the services they've rendered. And so that is to incentivize them to be active in these proceedings. Anybody can join, create a group, get one member, you're going to receive 1,000 Bitcoin MYK tokens. So that decentralizes the network even further. You don't have to buy expensive mining equipment and run a node. You don't have to have a big pocketbook or wallet to basically buy the network like what happens in proof of stake. And so our hope is we've at least presented another option here. Now some might challenge the platform itself, they might challenge the code. The great thing about the project is that the cryptocurrency runs on blockchains where the code is readable. It runs on Bitcoin Cash, it runs on, um, the Steem and Hive blockchain, and it runs on Waves and Bitcoin Satoshi Vision. So anybody can read the code. There is transparency in that. And also what's important to understand about the BitcoinMYK, uh, site is it is just one site in the network, right? So there are going to be many hubs. If you have a problem with BitcoinMYK.com, you're going to be able to go to other interfaces. You're going to be able to go to other hubs started by other members of the community, and they will have their own, uh, governance model within the cryptocurrency, right? So it's a very interesting project. Um, but that's how the governance model works for the BitcoinNYK.com project. If you have any questions or concerns, feel free, feel free to ask. That's all I have to say in this video. Until next time, as always, take care of yourselves and each other.