Steem Groups - Contest 1000 BtcMyk Tokens!

Welcome back to the channel. I hope you all are having a great day. So today we want to talk about Steam Group's BitcoinMYK. We're having a posting contest. There's going to be a reward of 1,000 BitcoinMYK tokens for the person who posts the most, uh, going up until Monday. So if you had the most posts by Monday, you're going to win 1,000 BitcoinMYK tokens, right? Second place is going to win 500 tokens, and third place will win 100 tokens. So real quick about the BitcoinMYK project. The BitcoinMYK project is a Bitcoin sidechain deflation token, right? That's just a very simple way of saying that, uh, Rob, We found great use in using the Steem blockchain to facilitate Bitcoin transactions, and we do it in a very interesting way. We use something called the Bitcoin Wave Network, whereas you can basically, without moving your Bitcoin, without disturbing it— your Bitcoin never moves, leaves this wallet— get these BitcoinNYK tokens that run on the Steem blockchain. Now, it's very interesting how it works because all the transactions on Steam is not only free, but they're very, very fast. It's one of the most fastest blockchains out there. So if you own Bitcoin, you get the Bitcoin MYK tokens free. You can change them at any time, but you do it without moving your Bitcoin. And it's verified through several ways. You could do it through a wallet signature, or you can do it basically through sending over the smallest Satoshi version to us, which we'll send back. And what happens, it verifies that you control and own that account. and then you get the equivalent of Bitcoin MYK tokens. Now, uh, what's interesting is although the Bitcoin MYK project facilitates that for Bitcoin, what it does as well is something called deflation, or it's known as deflation token. Now to explain that, uh, there were some projects, uh, called BOMB token and ETHplode, and what would happen is they started a certain amount of, um, of tokens, cryptocurrency, and they burn them against the transactions. They just keep going down, burning, burning, burning down till you get to very few tokens. You might only get to like a million tokens or something like that. We're doing a very similar thing where we're going to at least burn about 95% of the supply, and from 95% of the supply, we may actually burn another 3 to 4%. So it could, uh, actually end up that we'll only have about 1% of our supply left. Now, a lot of the dynamics of cryptocurrency, when you burn and create more rarity, can create, uh, a, a more value cryptocurrency. Now, this doesn't have to happen. It's not provable it will happen, and we're not saying it would happen, but some of the data may suggest it may happen. And so it's very fun to get these tokens and the value of them, or there's not very many and you're the only person left holding so many of them. So very interesting concept. Now, now that you understand really what the project is about, what's happened is our hub to facilitate much of these transactions, whether it be through Bitcoin, uh, we found that they start to pick up a lot of traffic. So as it picks up traffic, what we do is we've put interesting things you can do on there, um, offers, uh, social networks music streaming services, and a variety of things that while so many people are gathered on the site, they're able to basically, uh, do participate in these other things on BitcoinMYK.com. But to explain the contest that's happening on the Steem blockchain, let's get over to the social network portion here of the site, of the hub. And all the site does is pretty much, uh, you know, link everything together so you can neatly move and do all these various things we were using the Steam blockchain to do. So let me hit that power button. Let me go down here to— this is showing all the great things we have. We have a music streaming service, trading card game, market prediction game, um, uh, a, uh, something reminiscent of Fiverr, which is a, um, a microtask program, gift cards you can earn. You can download browsers that earn you money. Our simulated mining game, right, which simulates what happens when you mine cryptocurrencies. In this game, you actually earn our tokens without the waste to the environment and energy. But let's get over to the social network portion, and that's what we're talking about today. So it takes us, it links us here to the Steam blockchain, right? So you do have to have a Steam account. Now here's the thing, guys, as you look at our polls here, there's something that's very interesting to explain to you. Now we're earning, uh, we're basically earning what would be equivalent to STEEM dollars. Now this is the beauty of what we're doing here with this contest within our group. You're earning STEEM dollars, but because we have our BitcoinNYK token that trades against STEEM on the STEEM blockchain, you also earn that as well. So here's what's been a huge issue, a huge issue, issue with the Steem blockchain. This is what's caused many people to leave the Steem blockchain, never to return. And what it boils down to, guys, is something called stake-weighted voting. Now with stake-weighted voting, it means that you buy in a certain amount of what they call Steem Power, then you use the Steem Power to influence your votes over the network, right? So what's happened in the past is this created, uh, an, an era of, uh, of, um, nepotism, collusion, and a variety of things. And what it's done is it's put a bad taste in people's mouth about, about the Steem blockchain. So as you look around the Steem blockchain, you will oftentimes see a lot of negative information about the Steem blockchain, and it's very, it's, it's very much a shame. And the reason it's a shame is because the Steem blockchain, mechanical-wise, I believe is an architectural marvel. It is fantastic. It's fast. Everything is free. It's fantastic. But this little thing that was added into it, which is called the rewards pool, it has put a lot of bad taste in people's mouths. And we believe the solution to this is something called democratic voting, right? Now the cool thing about it is within our system you still get to use regular Steem, right? You can still earn Steem, you can still vote. But what we do on every person that posts, they get 50 Bitcoin MYK tokens, which I think 50 tokens equals something like a Steem dollar now. So it is guaranteed you receive this, the Bitcoin MYK dollar. So It's democratic, basically voting is what it is. Now what's so beautiful about that is that you don't have to worry about the collusion, the nepotism. You don't have to worry about, uh, uh, the cliques that are happening on Steam that have turned so many people away and caused them to go the other way. What this does is it allows the Steam blockchain voting system to exist as it is meaning you can still earn your Steam Dollars, but at the same time you post, you're going to get a guaranteed 50 BitcoinMYK tokens. Now here's the contest we're running. This is great. You join, you start posting, right? If you do the most posts by Monday, you're going to receive 1,000 BitcoinMYK tokens. That is correct. If you're, if you're in spot number 2, 500, and if you're number 3, you're going to receive 100. Now, no matter what happens, you're still going to get 50 Bitcoin MYK tokens per post. Isn't that fantastic, right? Takes out all of that negative energy that has existed on the Steem blockchain. We definitely think it's worth a try, and it is experimental, right? You know, this isn't our main thing that the Bitcoin MYK project was created to do. Right? This is one of many aspects and one of many things we do. But since we're getting the traffic to the site, we thought, hey, why not? Let's try this. Maybe we got a solution to help the Steem blockchain along when it comes to the facilitation of transactions. We think it's excellent, but the social dynamics of the Steem blockchain have become quite, uh, problematic, right? It is not working and it is not onboarding people. And so, you know, you need look no further than to do a little research on Steam and find some of the market sentiment about it, the communities. And it is my hope that the Steam blockchain does become a very good blockchain. It has so many great things working for it, but there are many things that are working against it. We help to try and solve some of those things. So give us a try. See if you like it. You may very well like it. If you're part of other groups, if you're part of other communities in Steam, keep in mind that you only need to drop their tags on the, uh, when you post, you just drop it, their tags in there, and many of these communities will still give you credit for posting to them. That's how it works. But to be able to win in our contest, you need physically post to our site. We'll leave a link in the description. We know you guys are going to have a lot of fun. That's all I want to say in this video. If you like content like this, don't forget to like and subscribe. And until next time, take care.