In this video, the presenter addresses the Polkadot community, explaining how BitcoinMYK (a project built on Polkadot) predates and mirrors Lolli’s Bitcoin‑rebate service while extending it. He argues that traditional cryptocurrency adoption faces high entry barriers—especially the lack of custodial wallets—making rebate‑based shopping a practical gateway for mainstream users. BitcoinMYK enables users to earn its native token as a rebate when purchasing on Amazon and other merchants, offering a simpler wallet and trading experience than direct Bitcoin payouts. Beyond rebates, BitcoinMYK runs a free‑listing marketplace (similar to Craigslist) where listings are free if paid in BitcoinMYK, encouraging token circulation and value capture. The speaker highlights the importance of scaling the solution within the Polkadot ecosystem and positions the platform as a vehicle for universal basic income, promising users both utility and a share of value. He concludes by inviting viewers to try BitcoinMYK, emphasizing ease of wallet setup and future integration of additional cryptocurrencies.
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Welcome back to the channel, Polkadot community. So today I want to talk a little bit about Lolli, and if you don't know what Lolli is, it's basically a rebate shop where you can earn free Bitcoin when you shop online. And my thoughts are, um, if you look at the title of the video, it's called Bitcoin MYK Predates Lolli. So Bitcoin MYK is going to be a project within the Polkadot ecosystem. But Lolly is doing something I, I, we thought about a long time ago that made a lot of sense and we incorporated it into our platform. And basically how it works is when you make online purchases through your favorite merchants and vendors, as it were, top brands, you earn these rewards. And it's Bitcoin, right? So you get different amounts. It depends on, you know, what the offer is and what you're spending, and, but you get Bitcoin back. And the reason this is so important is because there is a big entry barrier towards entry in cryptocurrency. And this isn't something I think we've handled well in how to deal with the masses of people. Um, and so I've always thought there should be easier ways and there could be. And so this is one of those situations where it makes a great deal more sense to have people doing things they know how to do already, yet contributing to the cryptocurrency ecosystem in comparison to what we had, uh, in the stock market. Uh, you know, there was a time, you know, even today, a lot of times when there's conversation about how good the economy is doing, oftentimes they're talking about the stock market. And, uh, the average person probably doesn't trade stocks, and so that's something that they might not have exposure to, or they may not even care about. But the thing is, it's the average citizen who's generally driving the economy. It's the average small business that's driving the economy. And so, uh, that's a big market that's being missed out on. So stock market was able to correct it a lot, a great deal, in our standard economies with the, uh, with 401(k) plans and a a variety of ways to expose people to the stock market, whether they knew it or not. So it's very possible to find a person who has a 401k plan but doesn't quite understand, you know, what his plan is invested in or what it's doing. And so they're exposed to the stock market, they're benefiting from it, and at the same time the negative impact of its affecting them. But it's done in a way where it has made it very easy for people who, uh, just aren't going to be interested in overcoming, uh, this hurdle of what's required to get involved in cryptocurrency, from understanding wallets. And so a lot of why the stock market was able to do so well has to do with custodial accounts. Cryptocurrency has frowned on custodial accounts, but unfortunately, because of the complexity of cryptocurrency, custodial accounts is one of those areas where it probably needs it more so than the standard economy and the stock market needs it. Right now, it is, uh, quite easy to open up an online brokerage account and start, start trading stocks. You can't do that crypto. So, um, you know, in that regard, um, these type of ways to implement cryptocurrency into people's everyday lives makes a great deal of sense. So Lolli's been doing that. I'm not exactly sure how well it's doing, but I still think it's a good move, and I think it's what the future cryptocurrency is really going to need to look like. And so BitcoinMYK, years prior to this, we had set this up in our system And whereas the journey with BitcoinMYK has been, um, trial and error, but at the same time moving through a way to make BitcoinMYK a usable product to the general population, something people are going to actually use and care to use and need to use. Uh, we had years ago discovered that through using BitcoinMYK with Amazon services people can pretty much purchase anything they want and be rebated in BitcoinMYK cryptocurrency. Much more advantage of getting some value and some of your money back than giving all your money to these huge corporations and getting nothing back. Really didn't make sense and was an easy way to introduce people into cryptocurrency. So here on the BitcoinMYK site, you can see A very similar thing going on here where we're integrating through Amazon and you can purchase a variety of devices, almost pretty much everything on Amazon. And in doing so, um, you earn BitcoinMYK tokens. Now, um, with BitcoinMYK, it's not that we're so much— we're working with certain partners. Um, you can go through Amazon and pretty much anything you purchase, we're able to rebate that with the BitcoinMYK cryptocurrency and you get so many. And of course the BitcoinMYK cryptocurrency trades on a variety of markets and that value will be determinable by them, not us, but we will issue based on that market value so much back in the form of a rebate, right? You know, also the thing about Bitcoin, if you're gonna receive Bitcoin, I'm not exactly 100% sure how Lolli does that. But if it goes over to a Bitcoin wallet, uh, unless it's like a custodial wallet, then for the average person, it's going to be probably confusing to use and how to trade Bitcoin. And there are things happening with the Bitcoin MYK, uh, project where it's, it's a much easier, uh, user interface to trade, and it's a lot easier to get the wallet. But besides just doing the rebate thing, Um, like what Lolly's doing, BitcoinMYK is also offering, uh, a service similar to Craigslist, uh, um, where you're able to sell your services and products. Um, and it's— the service is 100% free to use. The listing fees— you can list whatever you want. These services are available now. You can list whatever you want absolutely free. The only caveat is that you can only accept payments in BitcoinMYK to list free, or you, you may be subject to a listing fee, um, or, or if you list and, uh, right, it doesn't, um, fit with the, um, the, uh, the rules of the site, then your, your product can be taken down until you, you come into compliance. So let's take a look at that and so you can get an understanding what's happening there. Okay, so here on the site, this is something similar to what you're going to get with like a Craigslist type type site or some type of, um, site to sell various products and services. And right now it's pretty much a free-for-all. Uh, what, what you're getting here is you're getting a lot of people just promoting and, uh, in some cases probably even, uh, to a degree spamming a variety of products, right? Um, and, um, The entire idea of this is to— you can list absolutely free here. You can sell any product or service you like, and there's no fee to it. However, it has to be in the Bitcoin MYK cryptocurrency at this point in time. However, that will change Basically, uh, in the future, and we will be accepting other cryptocurrencies to list, but we really want to keep that value in the BitcoinMYK cryptocurrency. It builds the value, and it also makes it so that, uh, right, there are more products, uh, offered, uh, through, uh, direct purchase with the BitcoinMYK cryptocurrency through, uh, products like or services like Amazon and so on. So we're very excited about that, and we think this is the future of how cryptocurrency is going to have to behave, that there's going to have to be this seamless integration with easy wallets and usefulness to the, to the average person, to where they're going to really want to use it and they can easily use it. Now we think BitcoinMYK is bringing such a product like that. Now of course You know, being a part of Polkadot ecosystem, scaling is absolutely important. Get a lot of people coming through this project, you're going to want to have quite a bit of people, um, uh, you know, people able to, to get on here and use the system. But, uh, scaling is part of the problem. You also still have to have the reasons why people want to use cryptocurrency, and there's going to be a lot of people using it based on the the needs that are met in society. And right now with the BitcoinMYK project, we believe a lot of that has to do with getting the most value, universal basic income, which will be provided on the site. You're not only contributing to the platform, you're getting something back value-wise. And a lot of products and services unfortunately don't do that. I don't understand why people do business with them and invest with them when their services, where they can deserve so much more, and they should be equal shares in that value as well. But there are now emerging products like BitcoinMYK that can offer you a lot more value than what you're getting in many of your products and services. So we invite you all to join BitcoinMYK. Um, we think you're gonna really like the project. It's very easy to get a wallet. Um,
