Social Tokens Bigger Than Defi!/100x Coins

Oh yes.

Wow.

You think there's more potential there than like replacing banks?

Yes.

It's, it's interesting to hear you, like a global macro investor with like a long, like, track record in traditional finance and like Goldman Sachs and like investing in social tokens, uh, like, which is like such a new and like almost like fringe part of crypto. Um, so I'd love to just like hear more of your thoughts on like how Welcome back to the channel.

I hope you all are having a great day. So we're gonna try to shoot from my new studio, I guess I could call it. So not sure how the sound quality is gonna come out. We're gonna give it a try, see how that goes. But a very interesting video today. Today we're talking about the Social Token. And the social token now being this thing that could be as massive, way more massive than DeFi could ever imagine. In fact, this could make DeFi look like an elementary school case, right? And we're going to get into today why that is. First, I think we need to explain what the social token is. So to understand the social token, this is something where the community is the value and the driving factor. They're generally broken down into about 3 components. What are these components? Uh, they typically start off with something like first, a, it could be a content influencer, it could be the individual, one person who has built up a community around them similar to a YouTube personality, right? And what that means is they go on to tokenize this community, right? Depending on the size of the, of the influence and subscriber count of the influencer, this could be very significant. We know one of the biggest content influencers ever was someone like PewDiePie like 100 million subscribers, which would make him on par with any sizable social media platform, right? We could then move on directly to the community itself, right? Now this could be a business. This could be the New York Times, Disney, Amazon, anything like that. Any network with a large amount of customers that are able to extract value through these customers, and they can be tokenized, rebate programs, bonus programs, so on and so forth. And then of course we come to just the part of it where there may be platforms built, systems built chains built to house these, this particular type of area of cryptocurrency. And through that, they will be able to be a valuable cryptocurrency project in facilitating that. So this is very close to home, and many of you all who watch the channel, you're probably starting to get your wheels turning, you know, in your head and starting to connect the dots. That BitcoinMYK started off as what would probably be best defined as this type of version of Facebook meets Bitcoin meets universal basic income, right? Very, very interesting project, very ambitious project, a project that has been years now in the making, and a project that has, uh, started to grow we start to see some understanding from the community of what it is exactly that's going on here. So, uh, what is important in all of this is understanding, uh, this rule, and that rule being that your community, that your network, is the most important part of cryptocurrency. We have had this debate with engineers, technology, and it has kind of led to the idea that technology always wins at the end of the day. But it is also very important, in some ways more important, to understand the very pivotal part of the community latching on and connecting to your project. Even if you look at something like Facebook, Be that as it may, some people in this space think Facebook isn't a good platform, that nobody should be on it, that it doesn't make any sense. However, it really doesn't matter what we think. The fact remains a large amount of people are still on Facebook. That shows the power of the network, same as with many other mega social media platforms. So the differences are this. This is why this is so massive. If you look at something like DeFi or decentralized finance, you're, you're generally oftentimes just speaking about the banking industry, the investment side of things, right? This makes up a very small population of end users, right? Not everybody is interested in their personal finance. Not everybody's out there trying to trade, make money, take advantage of DeFi. That is the great confusion with much of the cryptocurrency space. Now, Raoul Paul, as you got to see in the beginning of the video, he is a kind of the golden child of making these predictions, has a good track record of picking up on the next crypto trend. He says it's going to be social tokens. Now, He goes on to explain why and what gives it value. And as we just touched on, it's very easy to understand that if a network has millions of billions of people, consumers, products, that they're going to be able to take advantage of their user base. Some projects, platforms, businesses have millions to billions of users. Uh, the example Raul Paul gives is something like Uh, the Disney Corporation, right, that has, I believe, an estimate about 3 billion, uh, members in this community. People who have been to Disney World, people who participate in Disney, right, whether it be through the streaming service or through the theme parks, you name it. Now the problem what happens with Disney is that the same people who are members of their community have to be bought back through advertising. As to say, when Disney wants to promote something, instead of going straight to their members, where do they go? They go out to social media, Facebook advertising, and they have to re-spend that dollar. But if they had a community built up, say it was a social network, say it was a rebate service, a bonus site or something like that, where they tokenize users, right? To now use these tokens to get into Disney World, to use these tokens to purchase the Disney streaming service, then that would not only cut out the middleman, the marketing and advertising firms, it would give the power back to Disney and it will incentivize their member base. This is very important, uh, because many a cryptocurrency, instead of looking for use cases, have went on for years losing their money when this channel has been presenting this very theme for almost the last 3 years, right? And the BitcoinMYK project has grown slow and steady, which has been absolutely fine with us because we knew this would be a thing. But it also goes to show that we have a lot to learn here in cryptocurrency. Instead of focusing on use cases that made sense, we focus on casinos, gambling, We focus on Ponzi schemes, trading, and a lot of financial sector, part of financial sector. Well, this is so much bigger than that because this involves every individual, every brand, every business just about out there that can tokenize their communities and make money. But now that sounds simple enough in theory. This sounds like something anybody could have figured out, anybody could have used. Right, something that we figured out 3 years ago. But why didn't it take off? We're going to get into why that is. So the first part of this that we need to understand in cryptocurrency is we need to understand that in looking at something like Facebook, that I think also touched on this when they first came out with Libra coin. Facebook, 2.5 billion users, Now they have a cryptocurrency, they have the community to use their potential stablecoin, so on and so forth. I believe they've now moved it on to a project called Diem. We know they got a lot of pushback from Congress. We know they got a lot of pushback from international regulatory bodies for fear of what would happen. This will be no different going forward into the social token. It's gonna take brave souls to do this. So Here's what I want you all to understand, and this might be one of those videos that you might not get it the first time, but you might need to watch it a second time because there are some very important things you need to know if you're going to be in this cryptocurrency space. But the regulatory bodies are going to come out the woodworks at these projects. We saw this happen with Liberi, uh, this social platform that, uh, they got hit by the SEC, and you hardly hear about them these days, right? It's like the dream kind of disappeared. This is going to be no different in this space, and a lot of the businesses that attempt this, they're going to be hit as well. They're going to be— they're going to suffer. So I'm saying all that to say this: when these projects start to launch out, don't just willy-nilly dive into everyone that comes out. Most of these aren't going to make it. But the ones who do are going to make it big. Projects like ours, BitcoinMYK. And I'm going to tell you why it's going to make it. Because they're going about this the wrong way. We figured out a long time ago that if anybody attempted this, they're going to be declared a security, right? Disney, the rest of these companies try that, they're going to have a lot of regulatory problems. They're going to have to lawyer up really big. So All right, they're gonna get a lot of pushback. So who's gonna lead the charge in this isn't gonna be who you think it is. It's gonna probably first be smaller, high-risk-taking projects that are gonna be shut down. And the reason they're gonna— they're gonna all be shut down is because of the way they go about it. They're gonna be securities. Who's not gonna be shut down is the projects that give their cryptocurrency away free, like Bitcoin NYK. The projects that are operate more like foundations and charities, the projects that operate more like on, uh, the idea of universal basic income like we do. These are going to be the hard projects to stop. They're going to create these valuable currencies, these global cryptocurrencies that the entire world is going to use. So be very careful in this and do your research and really study to understand why just having a business model isn't going to work. I spent a lot of time on the Hive blockchain, and I like that blockchain because the transactions are almost free, right? That's another important aspect of cryptocurrency. If it's too much to use your project, then what's the point of using it? It's costing me too much to use. But with the Hive, although it gets that right, paying for the system, it gets wrong. Because what Hive, the Hive blockchain, it's do is they attempt to have people with the most money instrumental in running the platform, which kind of turns it into this business oligarchy type system that has only allowed to grow to a few million people when it should be 100 million, billions. Another thing with these DeFi projects, there's only about 400,000 people in the DeFi space, and Bitcoin only has about 100 million users. That's nothing to the likes of Facebook and Disney, who can get billions upon billions of users doing this very same thing. That's going to be nothing to projects like BitcoinMYK that are going to give the cryptocurrency away free and give it based on universal basic income to the globe, something that half the global population statistically has opted to. You're talking about over 3-4 billion people. These type projects can build networks like that based on the model. And someone like Ron Paul, who understands that, who understands the value of a network, he already can understand how they derive value. As we said earlier, Disney has to go back through the social networks to pay their own members to come back. They have to, they have to double pay. You see, and, uh, they have their members already. There's no reason for them to have to go through networks when they already have the network, but they spend billions upon billions without doing this. With something like this, everybody's going to be able to gain value from essentially their own currency in the sense that they earn this for being a human being collecting universal basic income. They do not go out and buy it. They do not have to jump through a hoop. Just for being a human being, they are granted so much of this cryptocurrency. That's going to create a much more massive network, a much more valuable set of payment channels, a much, a much larger advertising promotion network to who the likes of Disney and many others will want to pay through, because they're not going to probably be able to accomplish this on their own. And even if they do, the regulatory bodies are going to come after them, say, Disney, you're a billion-dollar company, uh, much like Facebook. We order you to cease and desist. Uh, you walking around with a currency bigger than the US dollar, bigger than the Russian ruble, bigger than the yen, is not something that's on our agenda. But you cannot stop the value of a person That is the one frontier left that regulatory bodies can't touch. They cannot touch a project saying that you are valuable to it and that value is yours just for being a human being. No project ever in the history of man is ever going to be able to touch that. And that's why BitcoinMYK, working on this now almost 3 years, fully understands this. Much like Ron Paul understands this. And this is where, where the space is headed. Uh, this is what it is, right? And as you can see, people are registering, people are signing up because they understand this as well. And it's now your turn. The price is absolutely free. You certainly don't want to miss this. This is probably going to end up being one of the most pivotal times for cryptocurrency to go forward. This is finally us getting out of the casino, out of the Ponzi schemes, out of the gambling, and we're finally growing up and maturing and moving on to where we should have been many years ago. But better late than never, the BitcoinNYK project will be one of those social tokens that lead the pack. That lead cryptocurrency out of the darkness. And I can't wait to be, uh, uh, marching along down that road along with you all as we make this project work, right? I also want to say that although it is not required, that the projects I believe that are going to do best with this are going to be more like social media platforms, right? Now there are cryptocurrency projects out there relying on the use of a charismatic leader. I hear a lot about Million Token, right, speaking about this. And I really like Tech Lead, but the Million Token doesn't have a platform. It doesn't have the social engagement on the type of level that you want to attract and keep a network. And, uh, right, until it gets something like that, I don't you know, think it's going to be a big player. Now, it could end up doing that, but that will be a conversation when that happens. Right now, we have Bitcoin NYK that is doing that with an integrated wallet that's being traded on blockchains that have practically zero transactional fees. There is no competition in those type models, and there's going to be many copycats that copy the BitcoinNYK system, which is what we want, because this is what we want to do. We want to lead cryptocurrency out of the darkness and into a better way of doing things. That way we all win. But as long as we keep the casino open, as long as we allow for whales and oligarchies and people at the top of pyramids to run these, these projects, even looking at Bitcoin, where 87% of it is owned by only 1% of the network. Until we get away from that, the cryptocurrency space is going to remain stagnant. And it's only until we all start to copy these models and do these models that we're gonna send the final blow to destroy many of the negatives that exist in cryptocurrency. And that is the day I'm waiting for, hoping for, and I know we will get there very, very soon. Now, that's all I want to say in this video. Don't forget to join BitcoinMYK, uh, you're going to be glad you did. Do not hesitate if you watch this video, do not wait. Getting in, getting your accounts, going to be very, very paramount to your success in this project. We know that that's how cryptocurrencies generally run, that if you get in early, you're going to be one of those people that are gonna probably fare fairly well. And there's no excuse with this because, because it requires no money. This is the dawn of the social token. Until next time, as always, take care of yourselves and each other.