Polkadot - UBI Payments Automatic/Uniswap

Welcome back to the channel. I hope you're having a great day. So, um, we want to talk a little bit about a great new improvement with the BitcoinMYK project that has a parachain on the Polkadot network. So this is going to be very cool. Are you going to be able to actually send your cryptocurrencies, your BitcoinMYK coins, uh, from the Polkadot network to other blockchains. It is a multi-chain cryptocurrency, and although the Polkadot network is going to have a lot of smart contracts that are going to allow us to do that, there are some chains that might not be out of our network or maybe out of our network, and so in that way we're going to be able to use our gateway to, to access some of them, but What's exciting now is that our Universal Basic Income project, which we believe to be a mass adoption vehicle, now we're able to use the SLP wallet, the Zapit wallet, to now automate the Universal Basic Income tokens each month out to users. So that's a, that's a big deal because we were trying to figure out ways to do this and we were having some blockchain issues getting this done. And so now instead of having to go back to the site Once you obtain a wallet with us, we'll leave a link in the description, just automatically every month you're gonna receive your BitcoinMYK cryptocurrency. You do not have to do anything else. So that's a, that's a great thing. And so once we get— you get your wallet set up, it takes less than a minute, you're gonna be able to access and get the free BitcoinMYK coins. There is one other thing that you need to do to be able to get your universal base income, and that's just simply use our referral code BitcoinMYK. So it's real simple, we're going to show you how to do that. Um, so let's just demonstrate the feature to you. I've already sent out some coins, but you can see here when I— here it goes, send dividends to token holders, right? Hit send dividend token holders, gonna hit SLP tokens. And then here I'm going to input our token ID. Okay, paste that. How many do you want to send? I've already sent 500 just to demonstrate this. I'm just going to send another 100. So the wallets that have claimed, they're going to actually get these coins. So hopefully you already claimed. Then all we need to do after that is hit continue. Let's see what's taking us. It's going to fetching token holders, sending 100 Bitcoin MYK tokens. What dividend token to use? We're going to be using the Bitcoin MYK, uh, token here. Let's see here. Okay, I'm gonna hit confirm. All right, token receiving this dividend, BT. Total dividend is total balance required. Total fee is 2 cents. Address, hit that. I don't have enough Bitcoin to send it, but as you can see, it would only been 2 cents, right? Now let me just go back and try this. I got to put some Bitcoin on here. I'm sorry about that, guys. We'll get some Bitcoin Cash on there. Let's see here. Let me go back here. That was a 2-cent fee. Let's see how much it would be if we're gonna send 1 million coins. I just want to verify that it's not going to— that the fees aren't gonna be that much. So this is something that is going to be sustainable. So let's see here. Uh, I'm assuming it's probably gonna be the same. It's gonna be the same. It's just— oh, I don't have enough coins on here I've sent over, so that may not work either. They tell me I don't have enough, right? So that's not gonna work. Let me go to 2,500. Let's just see if it's gonna be any differences in the fees, or is it just the— um, because this is a dividend feature that I'm not accustomed to. Let me go back, uh, I want to go back there. Let's try here. Let's just do the whole $2,500 and see if there— if there's any differences in the fees, right? All right, fetching tokens. It's going to be the BTC dividend token. See what the fees are going to be. Confirm. And the total fee is 2 cents. Address receiving this dividend, 347 people, right, that have already claimed their wallets. So, okay, so then that means that, um, that there won't be— so that's awesome. So it means it's not gonna cost us more to send it. So that means Every month we'll be able to— now it'll be a lot easier— get BitcoinNYK coins out to you, right? So that's pretty cool. Uh, on the Polkadot network, what you're going to be able to do through our gateway is just send that. We'll leave a link in the description. You can send your coins here and it'll be able to go to the Polkadot chain, right? So we're going to have that interoperability. Um, I think the The other thing is going to be to understand why universal basic income is going to be so important to this space. So if we really look at what's going on and what really matters in cryptocurrency, it's going to come down to the most wallets and how many users you have. And we can't stress that enough that I don't think this space understands that even with the DeFi craze, there's only about 400,000 people, right, in the DeFi. And this space isn't growing. And the reason it's not growing is I don't believe there's enough incentive I believe the amount of risk far outweighed the reward system, and these— this isn't gonna get us there, right? Mass adoption, I believe, is going to occur through a freemium service type model. I think with our Universal Basic Income project, we're doing something totally unique that many of these attempted projects haven't done before, and that is we're forking Bitcoin, right? So by capturing just a small percentage of the Bitcoin network. Let's say, for example, if we only capture 1% of the Bitcoin network through a fork, we're— you're still looking at about $2 billion in value, right? Also remember the BitcoinNYK gamification means that we're deflating against transactions, right, at a much more aggressive rate than Bitcoin. So our inflation rate is going to be a lot lower than Bitcoin, meaning the price can go up a lot better. The price is going to be able to be substantiated value-wise better because we're going to be able to look and see who's using a project, who's using a platform, and giving it value in that way. And it also has a basic attention-like feature where you're able to take BitcoinMYK and advertise on our, on our website with it. So if you think about that for a minute, being able to advertise with BitcoinMYK, what does that mean on the site? Well, it gives it an eternal value. right off the bat. So it has that kind of basic attention token in a sense thing going with it. In addition to that, it's a rebate token, right? Um, so you're able to basically, when you buy things off Amazon and other of our partners, you're going to get a rebate back in BitcoinMYK with a much lower inflation rate than Bitcoin, meaning the value can go up a lot higher. We are expecting a great amount of users as well because universal basic income, we believe about 80% of the globe won't say no to it. And cryptocurrency gives us that advantage to do that. We have to remember that the true value on these platforms come from people, right? It comes from the participants. The network doesn't come from one will. That pumps up. And that's the problem with DeFi. Now, what's happening with DeFi a lot is you got a small percentage of people that's pumping and dumping these tokens. The problem with that approach is that there are not enough wells to support this economy. This does not occur in the standard economy. In the standard economy, uh, most of the economic engine that's driving the market is the middle class, right? Not the whales, right? Small businesses, not whales. And a similar thing in cryptocurrency that's problematic is we're getting big whales that are controlling these markets. One entity controls— can control Bitcoin, right? Move the market 20, 30%. That is not good, nor is it decentralization. The closest we're going to get to decentralization is doing something like a universal basic income project that's going to incentivize the masses of people enough to use it, right? And that's just, that's just the, what the situation is, right? If you look at it from any perspective, an economist would come in, I believe, and say the exact same thing. I want to talk about Uniswap real quick. We know there was a lot of money given away with Uniswap. A lot of people questioning should they purchase it or not, and where's Uniswap in relation to Polkadot? Well, part of the problem is Uniswap, um, is very problematic in its fee structure. We all know that. And even though this, um, big airdrop came, was about $1,500 for some people, $1,200, whatever it was, and they're wondering if the cryptocurrency is going to keep increasing in price, going up. Well, the network that Uniswap's on, we don't know if Ethereum is going to scale, right? Um, we don't know that. It's been, uh, and we don't know what might replace Uniswap, right? Many of us think it might be Polkaswap, and the problem with that is if you're investing in the Uniswap coin You know, even though a lot of people were excited to get that airdrop, if we really look at it in retrospect, a lot of these people was just getting some of their money back. You know, these fees are so high, accidents are happening during the transaction, people just paying ridiculous fees. And the overall solution got to be a structure with less fees, right? And that's what's coming up on Polkadot. So I would, I would be very cautious about buying into Uniswap tokens. A lot of people just sold it for Bitcoin or sort of for some other currency. But you should be very, very careful there, right? Absolutely. Because, uh, I don't think it's going to be the future. Although it's done a great job, um, it might have missed its window, its time, right? Maybe it should have started a token from the beginning, right, when it first launched. Because now I think it might be a little bit too late. And although the price keeps rising, Uh, when other projects start to take Uniswap's market share, and there will be that— there are many projects that are a lot cheaper fees, a lot more efficient— and as they get in the top 10, people are going to feel more confident about using them. The idea of, uh, top cryptocurrency projects holding most of the bags of people's wealth in them is not going to be enough in the future. Don't trust that because what whales are gonna start to do is they're gonna slowly start to move their value to a cryptocurrency with a more promising future. And for those people who are holding all their bags in Ethereum and Ripple and thinking that's gonna work, I don't think that's how it's going to play out. I think that these other more promising coins with better technology are gonna take market shares and I think Bitcoin MYK, the project we're working on, Polkadot, not only is it going to be able to scale and using a deflationary model with universal basic income and many of the other features I mentioned, I believe it's going to grab market shares of Bitcoin through the fork and through the low inflation rate. The price is going to be able to grow 1,000, 10,000 times, possibly more than Bitcoin could ever do. Bitcoin can't even 2x, right? So this is something I think if we have a reality check on cryptocurrency, we're going to find out to be the case. Um, and I, I don't think the, the physics of it, I don't think the math is going to allow it to be any other way. But, uh, this is a great situation. Make sure you get your BitcoinMYK wallet today. I'm very excited about, uh, right, this feature in this wallet, uh, Polkadot community. Make sure you take advantage of that today. Make sure you participate in BitcoinNYK project. We do believe it has one of the best chances of being one of the best cryptocurrencies in the, in the markets right now. 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.