In this video, the presenter argues that Polkadot will surpass Ethereum as the leading blockchain platform. He begins by noting that Polkadot’s founder, Gavin Wood, co‑created Ethereum, giving him insider knowledge to improve on its shortcomings. The speaker critiques Ethereum for congestion, slow transaction speeds, unfriendly wallets, and delayed sharding solutions, asserting that these issues prevent mass adoption. He then explains Polkadot’s parachain architecture, describing it as a drag‑and‑drop system that lets anyone create custom blockchains, analogous to early website‑building tools. This scalability and ease‑of‑use, he claims, make Polkadot far more suitable for Web 3.0. The discussion shifts to broader crypto adoption problems, emphasizing that users need real utility and incentives—not just speculative price gains—to adopt a currency. He proposes universal basic income as a mass‑adoption vehicle. The presenter introduces his own project, BitcoinMYK, built on Polkadot’s Substrate framework, which aims to combine a social network with a native currency and offers simple node‑running tools. He argues that BitcoinMYK demonstrates Polkadot’s practical benefits and calls viewers to run nodes, promising upcoming resources to simplify participation.
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Welcome back to the channel. I hope you're having a great day. So today we're going to talk about why I believe Polkadot will beat Ethereum. So I have been quite hopeful about Ethereum, and Ethereum has been probably the cryptocurrency platform that's made the most sense of them all. They Ethereum, it makes a great deal more sense than Bitcoin. And so we're going to talk a little bit about why my mind has changed to Polkadot and some of the reasons I believe it will, without a doubt in my mind, not only be more useful than Ethereum, but at some point in time have to come face to face with Ethereum and it's going to flip Ethereum. So first you have to understand Polkadot is one of these projects that just didn't come out of the ether. It's founded by a person named Gavin Wood. Gavin Wood is also a co-founder of Ethereum. So think about that a moment. What does that mean? So it means he knows all the ins and outs of Ethereum. So right there, he comes up with the idea that he can create something better than Ethereum called Polkadot. Now, why is Polkadot— why does it make more so much sense? And why is this going to occur more likely? Well, first of all, you have to look at the composition of Ethereum. Ethereum is a very heavily congested, slow run-down, uh, the wallets are not user-friendly. It's just very complicated to use. This is something like Ethereum isn't created for normal people to use, right? And one big issue with cryptocurrency is we are in a world of disillusionment where we think everyday people are going to be able to relate to this technology that's being built. And because of that, It just shows the huge disconnect between blockchain developers and the market, right? There is a reason why cryptocurrency, whereas it should as an area be dominating most of the products in the market out right now, but what's really happening is cryptocurrency isn't reaching its full potential. It can't even gain evaluation of what would be a top company in the United States. You know, it can't get the value of Apple. Bitcoin cannot, or the cryptocurrency space as a whole, can't get the value of Amazon. It cannot get the value of Facebook, you know, and so on and so forth. And that is because of these development teams' inability to to understand what the market requires and how to deliver it to the market until now, uh, with ideas like Polkadot that are able to understand what needs to happen. And how does this work exactly? Well, Polkadot, uh, uses something called parachains, uh, the idea of Ethereum to try to come up with a sharding system to stop the congestion and be able to scale is years off. And so that is not happening anytime soon. Polkadot uses a series of parachains, which is basically a way for you to create your own blockchains. Any company, any business, any individual, a way for them to create their own blockchains through a very simple process of drag and dropping. Right. So what Polkadot is doing, it is doing for blockchain technology and Web 3.0 what website building venues and products did for the internet when at the dawn of the internet, website building was very difficult and very costly and very much out of the realm of traditional normal internet users, right? So you get these builder websites like WordPress and so on and so forth, right? And you're able to just drag the plugins and applications in, and now you're able to get a much larger participation from people into these products. And at the same time, in blockchain technology, where scaling is a big issue and fees are a big issue and the congestion of Ethereum is a big issue, Polkadot solves all that, right? This is just too much solving to compare to Ethereum, who can't do any of these things. And whereas I do like Ethereum, Ethereum is— it fails to be on par with Polkadot, right? And that's just obvious. Again, one large problem with the cryptocurrency space is once people get invested in a cryptocurrency, Uh, it becomes very difficult for them to disconnect from that. Uh, they want to just stay in and deny technology, deny good ideas, deny products because their value is in something else. But I can assure you that history shows that that will not, uh, bring you the success you wish, and it will not bring you the value that you seek, and it will always end the same way. So no offense, but all these people talking about Ripple, Ripple, what it's going to do in the future, talk about Cardano and all these things and so on and so forth, uh, I believe that they are out of touch with what's happening with Polkadot here and what's going to happen. Now, there's no question, is our project BitcoinMYK, and I want to speak about that briefly, has created its own blockchain from Polkadot technology. And we like very much for you all to come in and run nodes. Now, it is available now. We'll leave a link on the video here and you'll be able to do that. One issue has become within the mass adoption of cryptocurrency and it relating to the mental aptitude of those who engage in it has been we just don't have the technical skills to be miners, to run nodes, to do all these things until now. This is now as easy as building a website online, right? And so now this is accessible technology and valuable technology to business businesses and companies and institutions. Ideas like Ethereum pushed for, but Ethereum is the dinosaur and these, in the first out the box, this kind of technology, and now it's being left behind. And that's just the way it is, right? You know, people are gonna come in and they're gonna use what is easier to use what is more valuable to use, what can scale easier. And these products can, through their parachain technology, connect to one another. They're not cheaply built, they're well designed. The teams behind this aren't some altcoin mysterious group with cheap technology. It is Gavin Wood, a founding member of Ethereum, and this is serious business, people. Excuse me. Very serious business. Now, our project BitcoinMYK now has its own blockchain and can integrate through Polkadot, can connect through not only Polkadot but many other chains, uh, through this, this multi-chain technology— Bitcoin, Ethereum. And this is something we couldn't do before. Before, you had to, uh, do these very difficult smart contracts to connect one cryptocurrency to another. Now these are all very simple code and scripts that allow you to do that within these blockchains, right? Within these parachains. So that solves many, many issues. Now what is missing in cryptocurrency? And let us be very clear about this. Everybody believes they're gonna mass adopt. Everybody believes the outside world is gonna care enough about their products to join in. That is not what's going to happen. Let's have a little common sense here and let's sit back and think about it. What incentivizes a person to use your cryptocurrency, right? It has to bring them value. It has to solve a need in their life. The false misconception is that people only care about gambling in cryptocurrency and the price going up. I used to believe that. That's not exactly true. The problem is not only— but not everybody's gonna be able to get rich from cryptocurrency and make money, so they're not gonna care about the price going up ultimately. But what they are going to care about ultimately is what does cryptocurrency do for them? What use does it serve in their life? And whether that be being able to buy a cup of coffee or rent a movie or whatever the case may be, those are going to be the more important, significant things in end. Bitcoin MYK having its own blockchain through Polkadot technology using the Substrate framework is very important because what Bitcoin MYK is, is it is what Bitcoin should have been. And what is that? Bitcoin in itself, in this network, should have been something like a social network with an integrated currency. A social network should have been built on top of Bitcoin, which it is not. Nothing is built on top of Bitcoin because Bitcoin doesn't have many uses, and the price is going to crash because of that again. And there are predictions that it may crash back down to $3,000. A lot of people don't believe that, but if it happens, I won't be surprised. More realistic, I think it's going to the $8,000 $9,000 mark, not gaining much ground from where it was years ago. Unfortunately, that's the way it is when you don't have a use to people where it matters enough. Why does Facebook matter to a lot of people? Because you can do business on Facebook, you can reach all your friends and family, you can reach 2.5 billion people people. This is how the Bitcoin network should have worked. Bitcoin MYK, using scalable Polkadot technology, is set up as a social network, but it forks Bitcoin in a sense, right? I say fork and I use that term loosely because it's not using Bitcoin code, but it does go to creating a Bitcoin-like product based on the Bitcoin people hole and bringing it to a scalable chain that works more like a social network with the integration of a currency. But there is more to that. There is no incentive for me to take a risk buying your cryptocurrency because you believe it's good technology that nobody uses. I have to find use and care What am I going to use this for? When I hear products like Cardano, I don't envision myself going out and doing anything with Cardano coins or Ripple coins or anything like that. Right? You have to care about it. People have to be incentivized to use it. We use universal basic income for that. Universal basic income is a mass adoption vehicle. You get people hooked first on the cryptocurrency and get it in their wallets, then they find use in it. It works as a freemium service. It works similar to when you go out and get several months of free satellite TV, and then what happens? You're accustomed to watching your regular programming. You keep the service, you keep using the service. It does not work by saying we got great technology, too difficult for more— most people to use, or to even care about, for that matter. Most people do not care about blockchain technology or censorship resistance, and they never will. We had private networks for the last 20 years, peer-to-peer networks, that if people really care about censorship resistance that much, they would just use those networks. Blockchain technology works better as monetary policy, and it works better for timestamping and correction and authentication, authentication of data. It doesn't necessarily at this point in time, nor never will in my opinion, work best for censorship resistance. We can do all those things with peer-to-peer technology. Most of the things that blockchain is trying to make the case to say it can do has already been able to be done 20 years ago. So it is baloney, and that's what I've been trying to explain to people. So what is the solution, right? The solution is using this technology, using a product like BitcoinMYK, running a node. And if you don't know how to run a node, we got something coming up for you that may be able to help you participate and get involved just as well.
