Polkadot - Review 1000x Coin? /Bitcoin MYK Gateway Limits Removed

Welcome back to the channel. I hope you're having a great day. So every so often I get excited about a project, and, um, uh, Polkadot seems to be the newest project. And everything seems so redundant in the cryptocurrency space. It's, uh, just in the top 10 cryptocurrencies that, uh, make the same promises and just haven't really went anywhere as far as the type of returns I think many of us are looking for. And ever so much still trying to find a significant use for this blockchain technology. We just haven't got there yet. I just don't feel we've made a compelling case to people why they need blockchain technology. But in looking at some of the problems that blockchain technology solves within the mechanics of the space itself, perhaps Polkadot has solved what has been problematic to many of us in the cryptocurrency space, and that's what's got me excited. If we go back to the dawn of the internet, you find that websites were the blockchain technology of its day, right? To, to build a website wasn't this simple thing that we have now with many of the services out there, from WordPress to many of the template services that, you know, give you this website in a box type thing. And that wasn't in the very beginning, that it developed onto that. And now, you know, to set up a website, it, you know, it's— it takes, um, literally nobody needs any type of computer programming skills, right? Blockchain technology being the latest, uh, you know, technology that's advanced and hard to work on and develop with through Polkadot may be about to make that evolution forward to now just having what would be described as basically a drag-and-drop service, right, for blockchains to develop, right? Excuse me. As to say, anybody who wants to create a blockchain can use the, uh, Substrate, uh, product that, uh, Polkadot, uh, uses in order to make this possible. So how it's described is it's an easy build a Polkadot parachain with Substrate. Build your application-specific blockchain with the Substrate framework now and easily connect it to Polkadot after launch. Right, so this is basically just saying that blockchain technology has now become drag and drop, right? Um, now of course, uh, that could change a, a lot of— especially product, products that— and projects that, uh, don't have a blockchain for whatever reason, uh, the complexity, complexity of the development, the cost, association with it, hiring developers to run the thing, you know, just a lot of money, a lot of energy. And especially it can be quite impractical in a space, especially where if you don't have security, you can actually be attacked. And, you know, it can make your chain insecure. And so what you've done basically is you spend a lot of time, a lot of energy and money, and you still don't have a a chain that's able to defend against attacks and so on and so forth, right? So when it, when it comes to something like that, you certainly want to, um, have tools at your disposal to where you're going to be able to cut some of that cost, cut a lot of that time, cut a lot of that development. You know, just going back to websites, many people nowadays don't build websites from scratch. Many of them use, um, these, uh, products that allow you to build websites on top of them. They're very easy and anybody can do them, right? Um, so that's what's happening with blockchain technology. And, um, you know, it's just, um, you know, not just a giant leap for just people who may not have the knowledge in order to do this, but for people who are in the space existing. Um, there are many features with Polkadot, as I'm understanding. Where you can update your blockchains and you have these systems where when you, you perform your hard forks that you're able to, instead of having to manually update and do all these things, you can basically— they have features where you can do these updates on their system and it's a lot easier, it's a lot less headache in that. So this is very, very exciting and interesting, um, especially for, uh, products like BitcoinMYK, which I'm, I'm involved with, that, um, uh, is a universal bridge cryptocurrency which has, uh, been basically linking from chain to chain. But now, uh, we are now testing our own node with the Polkadot, uh, platform And, uh, it's— as I'm watching these tutorials and getting this down pat, seems to be working out pretty well. And, uh, that's certainly going to be a game changer for many of us in the cryptocurrency space. A lot of projects out there who didn't have a chain before, who had a future endeavor to get a chain, um, this might be the time for you to do that. And, uh, Rob, yeah, looking at this, um, it seems, uh, so far as I've been following the steps Seems easy, like anybody can do it. Very little knowledge. There's a lot of tutorials out there for this type of thing. Very exciting. Also, the, the coin is doing quite well right now. I've seen it just keep going up and up continuously since the launch, since Polkadot going live, right? And yeah, really, really cool stuff, right? Really cool stuff. Just want to take a look at that white paper, something you can do in your spare time. I'm not going to download that. I haven't had a chance to go through the entire, um, uh, white paper yet, but, um, I'm gonna be sitting down and, and doing that. So, um, yeah, this looks like this is going to be a certainly a game changer. Now I'm hearing predictions out there like this might be one of those cryptocurrencies that can, um, you know, do a, do a 1,000x, right? Um, something that we're probably not going to see in any of the top 10 cryptocurrencies. And, uh, um, um, you know, it's very, very hard to say at this point, but I can tell you I'm very excited about it. And I can say to the point that for me at least, it's going to be definitely something I'm going to want to hold some of their cryptocurrency in. Um, I'm gonna certainly want to hold some of that, um, because this is something a lot different than what we've seen so far in a cryptocurrency space. You know, we've pretty much seen a repeat of the same things. A lot of, a lot of, um, people are talking about, uh, is this a some type of competitor or danger for Ethereum? And, um, wow, possibly. I mean, um, um, you know, Ethereum being a smart contract king, a lot of people still invest in Ethereum, got a lot of faith in Ethereum. But I mean, something like Polkadot, which can, can has all the features of Ethereum, yet more features than that, uh, you just drag and drop custom blockchain creation as it were, um, through these parachains. Um, you know, is, um, quite, quite interesting, right? Quite interesting. What can you do with that? Uh, quite a bit, right? So, um, definitely something interesting to watch, right? Something interesting to watch. And, uh, to be really honest, I've just started really learning a lot about the mechanics behind this parachain substrate, uh, technology, uh, technology and user interfaces. And so I can't really at this point in time say a great deal about the technical aspects of it as I'm watching tutorials and I'm setting up my nodes and doing everything like everybody else. But I can tell you that this is something different. This is something that seems to be serving a— what would be a great need, I think, in cryptocurrency space. So I'm not sure if this is some type of Ethereum killer or if it's, um, anything, uh, you know, on, um, on par with, uh, you know, defeating Bitcoin or something like that. But I can tell you that, uh, I'm very excited about it. Um, with BitcoinMYK, we certainly are interested now in getting our own blockchain. Have your own blockchain, you could do so much with that. Um, You know, of course, when you're, when you're on your own chain, of course, that eliminates many of the dangers of, um, of, uh, you know, being shut down, whether it be by governments or local authorities or something to that, to that degree. And so there's a tremendous amount of value in that, uh, having, uh, that, that type of situation, right? But we're going to keep you updated on our progress running a node, getting our own blockchain set up as we go. We're going to walk it down the steps. I have began today, and, uh, the next time we discuss this, I hopefully will be able to show you some details, maybe some tutorials about what we did. Uh, before I get out of here, real quick, I want to talk about our project BitcoinMYK. Um, just let everyone know that our gateways are now open. Let's get over there. All right, so here on the BitcoinMYK, uh, platform, um, BitcoinMYK is, uh, has many of the ideas of what Polkadot's trying to do, and I think that's a lot of why we're excited about the project. Uh, BitcoinMYK, we describe it as universal bridge cryptocurrency, and so you're able to take this deflationary coin that's free and global to the people. Um, it can be moved around, um, from chain to chain, right? And we do that through, uh, use of a gateway. Uh, through this gateway, you're able to send one cryptocurrency through our system and get the same cryptocurrency on another chain, right? Whether it be a, uh, whether it be, um, uh, Bitcoin, um, Cash, or Waves platform, Steam or Hive, uh, Bitcoin Satoshi Vision. Um, it has trading pairs against Ethereum, um, Litecoin, Monero. So this is a means— or this project is able to facilitate that. Now, um, it does that by piggybacking off of blockchain, so it's very more so reminiscent to Tether But instead of it being a stablecoin, it is a standard cryptocurrency that uses the value of the network to substantiate the value, right? So it's a very interesting project, but it's very so much related to Polkadot. Now, the difference is, is that Polkadot is allowing you to establish your own drag-and-drop custom blockchain, right? And so Bitcoin MYK will be setting up its own blockchain on Polkadot, but at the same time, um, through Polkadot's already existing interoperability with other chains, it's going to pretty much do what Bitcoin MYK is doing already. Um, I think the only exception may be if the case Polkadot cannot, uh, doesn't facilitate some of, or doesn't have interoperability with certain chains. There might be chains out there that Bitcoin MYK the gateway can be used, uh, that maybe Polkadot doesn't have. As I'm not fully aware of what chains, uh, will be in this network and where this interoperability exists exactly. I'm sure it's going to probably be like Bitcoin, Ethereum, but many of the other, um, uh, altcoins out there, I'm not certain. And in that case, you know, BitcoinNYK would be still very relevant there, as well as BitcoinNYK has deflationary quality similar to BOMB token. So against transactions, the the supply reduces. Um, and so it has a universal basic income project which we believe pushed us ever closer to mass adoption. So a lot of interesting things about Bitcoin MYK, uh, that I think is going to have a pretty darn good synergy, uh, with Polkadot, right? But, uh, yeah, very excited about this project. I didn't think I was going to find another one in 2020 that got me excited. Uh, right now there really aren't any. Um, the last one was HEX, uh, and HEX is all right. Uh, it's done okay. There's been things that it's done, uh, that I didn't like. It's been, um, um, kind of the scandal arena it's gotten into that, uh, um, you know, I would wish it had not have, but, uh, you know, that's what's happened now. And, uh, just many of these other projects, uh Um, you know, I just don't see where we're going to be able to get the returns with them. I don't really see where they're solving a real big use case up with Ethereum, which I think can maybe grow in value— just my opinion— about 4 or 5 more times. Um, I think we're going to be hard-pressed to see Bitcoin double its value, and I think many other altcoins and cryptocurrencies are going to be, um you know, very, very, uh, sketchy at best. Um, and, uh, would you, you know, uh, subscribe to the channel, watch many of your videos, you can kind of get inside my mind and understand why, where I'm coming from with many of the ideas about why I think these many of these cryptocurrencies won't work. In fact, I think over 95% of them won't work. But as you go on, you'll, you'll find out more details as to why that is. But that's really all I want to say in this video. Just a quick reminder, BitcoinMYK Universal Basic Income projects bridge cryptocurrency, deflationary coin similar to BOMB token-like, uh, mechanics. Uh, you can, uh, join the project today on the platform, start earning our cryptocurrency free, receive free just for joining, and I'm sure you'll be glad you did. 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.