In this video, the presenter evaluates BitcoinMYK, a cryptocurrency that operates as a parachain on the Polkadot network, and asks whether it can make investors rich. He begins by highlighting the importance of a secure, user‑friendly wallet, recommending Zapit’s early‑access wallet for storing BitcoinMYK. He then argues that Polkadot’s low fees and scalability give BitcoinMYK a competitive edge over Ethereum’s high‑cost, clunky user experience. The token is currently listed on the Steem blockchain, trading against the Steam Dollar, a pairing linked to Justin Sun’s recent acquisition of SteamEd. The speaker explains BitcoinMYK’s tokenomics: a universal basic income (UBI) model drives daily sign‑ups, while the supply is designed to shrink as transaction volume grows, aiming for a total supply well below Bitcoin’s 21 million cap. He warns that airdrops and UBI can create sell pressure, citing Electroneum as a cautionary example of western investors funding eastern users without clear value creation. Historical data shows BitcoinMYK surged roughly 1,000 % in a few months, aided by shrinking supply and “paper‑tiger” sell walls. The video also explores a future use case where users earn money watching videos, referencing Ryan Hildreth (formerly associated with BitConnect) to illustrate the entertainment‑value model. Throughout, the presenter balances enthusiasm for the project’s technical and economic design with caution about market dynamics, ultimately leaving the question of wealth creation open but leaning toward cautious optimism.
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Welcome back to the channel. I hope you're having a great day. So today, going out here to the Polkadot community, the rest of the cryptocurrency space, the project BitcoinMYK, now part of the Polkadot ecosystem with its own parachain. Can this cryptocurrency make you rich? And Before we answer that question, um, I, I guess if you're going to be rich, you're going to need a big wallet to, to hold all that money, right? Uh, if that's what the case is going to be. So Zapit is in, uh, early access here, but the BitcoinMYK token, uh, is compatible with this wallet, and you will be able to store your BitcoinMYK tokens here on this wallet. I've been using it today, it works fantastic, and a smooth, smooth wallet, and protect your assets. So Bitcoin MYK is now— I think it's time to pose a question. Oh, how does it— how is it that Bitcoin NYK is going to compete in this space, especially with some ideas from universal basic income to Bitcoin forks to multi-chain cryptocurrency. How is it going to, um, be able to answer that question to a satisfactory, uh, level? And I think first we have to understand a few things I will say being part of the Polkadot ecosystem is going to be one key component to this, and that the amount of growth we're expecting with Bitcoin MYK, we're gonna need to be able to scale, and sooner than later. We know at this point in time, Ethereum, the transaction fees are ridiculously high. The, uh, user interfaces for the wallets are horrible to new people coming into crypto. I, I just can't imagine how the developers of how we use many of these cryptocurrencies can fathom that the average user is going to be using this stuff. So besides these exorbitant fees, these super high fees and bad wallet interfaces and this huge barrier of entry, um, you know, uh, I just don't see how that's going to end in a success story. But Polkadot is going to be able to correct the fee issues, going to be able to correct the scaling issues. That's going to be very important to the future of what's going to happen with the Bitcoin MYK cryptocurrency using Polkadot technology. So let's talk about that a little bit, but first let's jump over to one exchange this BitcoinMYK is now trading on so we can talk a little bit about that and a little bit about the setup and structure of BitcoinMYK. Okay, so we're here on the Steem blockchain and we're, we have the BitcoinMYK trading pair up against Steam Dollar. All right, that's, uh, Justin Sun's, uh, uh, latest, uh, one of the companies, uh, one of the bigger companies on Steam, SteamEd. He, uh, recently had acquired it. Um, so a lot of the attention, um, or had been on, uh, that, uh, over the last several months of cryptocurrency, but There are a few things that we know to be true in cryptocurrency that has a lot to do with the value of the cryptocurrency increasing. One of those things being inflation, right? Your rate of inflation is going to dictate a lot of how high in value your cryptocurrency is going to move up, right? So with a lot of cryptocurrencies What you have is you're going to have a great deal of inflation through their mining operations and a lot of inflation, you know, through a lot of coins being acquired through one means or another, or just a very highly inflated supply of coins, right? And, uh, so that's going to control a lot, a great degree of how, how far that cryptocurrency can go up in value. Um, the other thing is going to be obviously, uh, being able to get the value, uh, into your cryptocurrency. So some type of growth or some type of large cash infusion is going to be necessary. So you're going to be looking at two main components there: your inflation rate and your, and your growth rate or your participation rate. So BitcoinMYK, because of the universal basic income portion of it, we have a great degree of people signing up and registering every day to our project. And we're going to speak a little bit later about why that type of thing is so valuable when you're dealing with growth. Um, but we're also going to, going to speak in relation to what happens to inflation. So anytime there is a type of, uh, whether it be a UBI program or an airdrop program or something where a cryptocurrency gets given away, right, to people that they don't, uh, have some type of, uh, value transfer necessarily in the means of, uh, uh, bringing value back to that product per se, Whenever you have something like that, there's always that problem of you're going to create so much sell pressure on that cryptocurrency and not enough buyers that the value is going to decrease. One such project I've covered a lot where I think that came up a lot was Electroneum. And Electroneum would do the airdrops every month, and a lot of the investors were concerned about that hurting the value of the cryptocurrency. Also, I think the 800-pound gorilla in the room a lot of people didn't want to speak about is that a lot of investors in the West and Western countries, whereas a lot of traffic was attracted in and a lot of people getting into the projects like Electroneum from the East, Africa, India, that there was this big concern that there was going to be this, uh, dynamic of, of money where the West was going to be, uh, basically giving all their money out to the East, right? And I think that was a lot of the conversation that didn't get spoke on a lot. And a lot of it had to do with misunderstanding of, uh, how to create value, uh, being under the impression that value can't be created— that the only way value is created is through a direct token buy or direct exchange in some form or another like that. But let's, let's get to what's going on with BitcoinMYK and try to answer that question: do we think it's going to make you rich? So if we look at the history of BitcoinMYK, several months ago BitcoinMYK moved up about 1,000%. Now that's not unheard of in cryptocurrency. But some of the components in the game theory of Bitcoin MYK is that as the growth— as there's growth in transactions, the, uh, supply— the token supply reduces. And the token supply is right now around 30-odd million coins. However, the inflation rate will drop far below what is, uh, at Bitcoin's rate, or the supply, rather. It was going to go far below 21 million coins, uh, in its future. So that's what's contributing to these large jumps and gains in value, right, to Bitcoin MYK. Now, as you can see, it's fractions of a penny, but you can also see the walls, the sell walls on Bitcoin MYK. These things are paper tigers, right? They're paper tigers, and that has a lot to do with that reduction of supply. The tokenomics of BitcoinMYK, I think, are some of the best in cryptocurrency. I, I think it takes great into consideration the growth rate, uh, in relation to the amount of value going into the project and the tokens reducing. But let's, let's talk about a little bit more detail how it is that we're getting that growth and exactly how does that growth create value, or some ways it will. Okay, so we're looking at this video that says get paid $80 per hour to watch videos. Sounds too good to be true, doesn't it? And as well, there is a familiar name here, Ryan Hildreth, right? And, uh, you might say, hmm, that name sounds familiar. And we can tell you exactly why it sounds familiar, because That name is relational to a person in cryptocurrency who was affiliated with BitConnect, right? A big marketeer around YouTube. And so he got a lot of flack about that. And of course, we bring that up not because we have any association or affiliation with either BitConnect nor Ryan Hildreth, but because We did find something very interesting about this video about getting paid $80 per hour to watch videos and its relationship to what's happening with BitcoinMYK. So if you come on the BitcoinMYK site, there is a video interface, right? And the reason we have a video interface is because we envision a future where people are going to be actually just sitting down watching videos like you're doing right now. And earning enough money watching videos to make a living off. And you might say that sounds crazy, that sounds ridiculous, but I would, uh, ask you to consider that we're saying the exact same thing in cryptocurrency right now about playing video games, where we envision a world where people are going to be playing video games, owning these video games, and making money off of them. Right. So this entertainment value, this attention value incident entertainment, as it were, there is something there. And in a future world where we believe automation is going to take over, robots are going to do most of the, the repetitive work that people do now, which are some of the more common jobs.
