Steem-Engine Market Daily Report - Sports Social/ Bitcoin That Deflates

Hey you all, welcome back to the channel and I hope you all are having a great weekend. So today we want to talk to you all about the Steam Engine Marketplace daily report. Unlike many other markets, trading markets, excuse me, cryptocurrency markets run 24 hours a day, 7 days a week. Nonstop. Some cases there's a little bit of pullback in volume during weekends, but they just churn right along. People are trading nonstop these markets. Um, and we want to highlight the SportsTalk Social, uh, project today. And this is pretty much like what it sounds like. This is a social media site, uh, that is built around content relating to games, sports games, sports highlights, reviews. You can be your own commentator on— kind of think of when you show up for work on Monday morning and you're talking about that game last night. You can actually get paid for it as you go over all the mistakes that were, you know, that were made and a variety of things. So it's a very interesting project. Over the last 24 hours, I believe it was up over 37%. Market cap of over $60 million. And I understand the Steam Engine market exchange— remember, this is quite new, but I think it's going to take off quite well because what this is, is for many people in the cryptocurrency space who are familiar with the Steam blockchain, this is similar to their version of ERC-20 tokens, SCOT tokens, right? And And it means that they're all integrated into the Steem blockchain. Steem, Steemit being the most successful social network in the cryptocurrency space, with that cohesion of the largest social media site integrated into all these projects makes a lot more sense for many of these applications to have this interoperability together. Now they have their own tokens. And you could take advantage of price gains in some of these tokens. Not financial advice, but you can check it out. So let's, let's take a look at the SportsTalk Social. Um, I'm gonna try to get over here to their website here. Let's see, looks like they have 1 trillion tokens. That's a lot of tokens, quite a bit of tokens. Uh, let's look at their, um, their front end here, sportstalksocial.com, and see what's going on over here. And then we can talk a little bit more about the project. So as you can see, it's basically like we thought. People are posting sports updates, highlights, doing reviews on them, writing articles about them. And you know, many guys like myself and many of you all who watch sports, Just think about how fun this can be showing off your sports knowledge and being compensated for it, being paid for it because they do pay you in their tokens. This guy's received over 30,000 of their tokens and I think they're, I'm not exactly sure. I forgot what the price of them was, but a lot of times these tokens are at least over a few cents or something like that a token. So, you know, you can see people who are making some money. There's over 100,000 of their tokens. So yeah, they, they, they are, um, it does seem to be, uh, a well-done front-end site. Uh, and this just goes to show the versatility of the Steam blockchain to be able to integrate all these projects. Now that token trades on the Steam Engine marketplace against Steam relative to how Bitcoin is the base pair to many of our cryptocurrencies. This is what STEEM is doing. Also, what's very great about STEEM is some of these exchanges that are STEEM-based only are now basically allowing for you to— similar to what you get with Coinbase— exchanges like the Freedom Exchange, which our project BitcoinMYK trades on as well, they allow you to purchase STEEM directly through your bank account. And so you don't have to worry about the a problem with your payment gateway, you can go right through your bank account, purchase STEAM, trade against these cryptocurrencies. And what's also great about these SCOT tokens, the STEAM version of the ERC-20 token, is that these particular tokens, uh, are basically, uh, um, some of them perform quite, uh, percentage-wise, they, they perform a great deal better than many of the major cryptocurrencies, top 10 cryptocurrencies that are out there right now. Also, I want you to keep something in mind. The volume of the Steam Engine Marketplace is getting more impressive every day. It's growing larger and larger every day. I remember when I first came on, you see a few thousands of dollars in volume going on, but now, you know, it's possible to see hundreds of thousands a day, and pretty soon it'll probably be millions. In billions. But the thing is, um, I like to say is that it's probably more likely that that volume is all real. There's a lot of money moving around the Steem blockchain. There is a velocity of the money is moving a lot faster than many other blockchains. There are many more dApps and applications that make that possible. But in addition to that, we also have to keep in mind that a lot of the projects, the major cryptocurrencies we see over these exchanges It has been, through research and investigation, found out that about 95% of that trade volume is false. So what you're seeing in trade volume is fake for the most part. And so that's why exchanges like Steam Engine Marketplace, which volume is, I would say, my opinion, but it's probably a great deal more chance that this volume is 100% real than what you're seeing on many other exchanges. But you can see the great potential here that's happening with this. And so we highlight the Sports Talk Social Network today. Um, we'll try to leave a link in the description to check out this project. Um, so also want to talk real quick about our project BitcoinMYK, uh, its latest feature, uh, and tell you a little bit about that. Okay, so we're here and we want to talk about the Bitcoin-like project that deflates. So we're on the BitcoinNYK.com site and we've talked a little bit about this in the past, but we, we're seeing now this phenomenon of deflationary cryptocurrencies that every time you trade in volume, a percentage of those tokens get burnt. Now the tokenomics of that is that what's eventually happen is you're going to create more value in that token, more likely, because as it gets more scarce and the demand increases, there are less of the token. And so this has become what's happening now. The problem is BOMB was one of the first ones to do this correctly, or one of the first ones to start it. And of course, in many cases, um, the first-time movers are going to reap the most rewards. But since then, there are many projects that have, uh, used a similar concept in their projects to where the tokens become deflationary and they burn percentages of them against trade volume. Now, of course, with now everybody doing it, the question becomes which one should you be in? Which one makes more sense? Do they all make sense? And it gets a little bit more complicated. Uh, Bomb, uh, experimenting with this first, uh, came out of box, uh, came out of gate, uh, didn't really have a use case. It was just social experiment. Now there's several other projects that have use cases along with this. There's social networks, you name it. There are a variety of things that are doing this now. And so it begs the question then, which one is going to be the most successful? With this now becoming an oversaturated idea? And so that answer is going to be hard to answer. We'll have to see. But it got us to think of what the Bitcoin MYK project— what if Bitcoin did that right now? Of course, we're going to be mining the final amount of Bitcoin eventually. And of course, the mining rewards of Bitcoin are going to be reduced And so there's going to be a lot less Bitcoin going out. And so many of us feel then the supply, the demand for Bitcoin value should hopefully increase. But what if there was a project like Bitcoin but had the same concept of deflating with a use case? And that is what the BitcoinMYK project is. It's a Bitcoin sidechain that works on the Steemit blockchain. The Bitcoin holders get these cryptocurrencies free. So it's very similar to all the airdrops that we got with the BOMB token and several other products that try to sell a similar thing. And if you hold Bitcoin, you get it free, absolutely free. You can also get it free by visiting the website You can get a free airdrop by just watching videos, logging in, things of that nature. So it's very simple, uh, and the, the free tokens, the airdrop tokens, actually come from the tokens that weren't claimed by the Bitcoin holders. So as they don't claim these tokens, they get recirculated back into, uh, the project to be shared amongst, uh, participants. All right, uh, with most forks of Bitcoin, uh, distribution models of Bitcoin, which I think would be more accurate, the Bitcoin MYK token is more like an overlay of Bitcoin over the Steem blockchain. It is a way to facilitate the movement of Bitcoin over the Steem blockchain, which is free. So you also now got a free bit, um, a transaction-free Bitcoin, but now you also get Bitcoin, MYK tokens for if you already hold Bitcoin, um, and it deflates against this volume. So eventually, uh, it should have a great deal of value as well. There's a social network here that you can earn on by posting, so it has a use case. It has games, um, we have a UBI program that you get tokens from just the amount of time you spent online over the internet. You log your hours each month and you receive BitcoinNYK tokens absolutely free. So the power of social networks, the value of social networks, we all know now that, um, that is the future, is a future, uh, value to us all, uh, and, um, uh, lots of billions of dollars come through, um, projects like this, uh, and what we're doing is through the UBI program we're able to distribute that back to the participant. Unlike many of the other social networks. So some very cool projects here. Great news is we'll leave a link in the description. You can join, uh, you can receive tokens absolutely free, uh, just by being online, logging your hours each month, participating in offers on the site, posting to the site, uh, through the Steem blockchain. So it's all decentralized as it moves. We integrate in to the Steam blockchain. So some, some great things happening now in cryptocurrency. For many of you all who are saying, uh, we're waiting on altcoin season, look, here's what I think. We got to make our own altcoin season. A lot of these top 10 cryptocurrencies we're invested in, we're not making any money. You're not going to make any money. It is only through projects like what you're getting on Steam Engine Marketplace, these new great new concepts and ideas that the community can now create, that are starting. You can start in at the ground floor. That's where your opportunity lies. It doesn't really lie in altcoin season right now, and it doesn't really lie with a lot of the, the top 10 cryptocurrencies. Of course, there's a lot of Bitcoin dominance, but remember with this, if you own Bitcoin, you can get our cryptocurrency free anyway. So one strategy is just to buy Bitcoin, claim our tokens free, buy Bitcoin, claim our tokens free. So This is the kind of steps we need to take in the future, in our opinion, in the cryptocurrency space. And we need to really be realistic. You know, a lot of us have bought into the dream that holding these bags of cryptocurrencies are going to make us rich, or it's going to be these great things. And some of them may, some of them may not. But one thing that is tested, we're finding out, is that social media communities and cryptocurrency work. If you have great communities, if you can build a community, uh, that your project has a great chance of being much more valuable. Uh, we've seen that the Steem blockchain has been quite resilient, so we're not trying to reinvent the wheel here. We're using technology that is tested, that works well, and that already has communities of millions of people with interoperability into it. So I think this is the type of mindset we're gonna really have to take in for the long run. You know, the 2017 days are over when you could just get into an altcoin and think it's gonna blow up. You know, those days are over, guys. And now we need fresh new ideas. We need things that make sense. We need things that create demand that we're not just people in cryptocurrency, but people outside of cryptocurrency want to participate in. Big ideas like universal basic income, which our project now advertises and promotes. And so people can come in who have no connection to cryptocurrency and start to adopt through that means, and there is demand at the same time. But this is where it's going to have to go, and I think we're going to really have to get our think tanks together and figure out what projects are really going to get us there and not just the ones that are going to spin our wheels further. But that's all I got to say in this video. Don't forget to join BitcoinMYK. If you like content like this, don't forget to like, subscribe, and until next time, take care.