In this video, the presenter introduces BitcoinMYK, a token that represents the value of Bitcoin without moving the underlying Bitcoin, using a gold‑vault analogy. Ownership is proven through wallet signatures combined with social‑media verification keys, and double‑spending is prevented via the proprietary Eldrick (L. Drake) equation. Unclaimed BitcoinMYK tokens are planned to be redistributed as universal basic income (UBI) to promote mass adoption. The project is transitioning from the Waves network to the Steem Engine marketplace, where BitcoinMYK will trade against STEEM and the native ENG token. The presenter explains the technical differences between Waves (hybrid PoW/PoS) and Steem (delegated PoS), and outlines an airdrop for STEEM wallet holders: roughly 1,000 tokens will be distributed to up to 1,000 STEEM accounts, claimable by posting a STEEM address in the video comments and upvoting the related Steemit post. Tokens are mirrored across Waves and Steem, ensuring equal balances on both chains. The video concludes with calls to like, subscribe, and contact the team for more information.
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Hey you, welcome back to the channel and I hope you all are having a great Friday afternoon as we go into the weekend. So I wanted to talk about BitcoinMYK, talk about the exciting move we will be making over to the Steam Engine Marketplace this month, and just want to give some quick details about BitcoinMYK if you're not familiar with the project and also talk a little bit about Steam Engine and why we're so excited about it. So Bitcoin MYK is a token which tries to be a solution for, or an option as well, for what's happening with Bitcoin. Similar to what we get in the Bitcoin Lightning Network, we want to try to find ways to move Bitcoin more efficiently, or at least the value of Bitcoin. So our approach to this is to look at Bitcoin more so as gold, right? What does gold do? It stays locked in a vault as a store of value. We move the value of gold through money. We don't actually move the gold. In a similar fashion, what BitcoinNYK does is allows your Bitcoin to stay locked in its vault, in its wallet, and you receive the represented value of Bitcoin through BitcoinMYK. Now, interesting enough, in order to be able to move this value and to be able to stop double spending and make sure that you are the owner of Bitcoin, we use a series of verification models that aren't KYC models, we use something called social media verification keys. So Bitcoin holders are able to claim these tokens through wallet signatures and through a use of the social media verification keys. They can continue to move their Bitcoin through, whether it be mining to gain more or whether it be purchasing Bitcoin, they're able to keep that Bitcoin and move this represent value across our network. Now, uh, what BitcoinNYK does is it attaches itself to several networks to move this value across the blockchain. Um, there is only, uh, information communicated through, uh, one particular entity, a hub, which we call the network distributor or supplier. And only the information of the transaction is between these two. Once that's done, it's spread across all these networks. We have a lot of details and videos, um, and they explain exactly how the protocol works with what we call the Eldrick Equation. Um, but to help you understand, uh, in this particular video real fast what it is, that's the basic idea of it. The next part of it is dealing with something that happens quite a bit in Bitcoin and airdrops and forks, and that's people who don't claim. Uh, it could be many reasons for this. Either they just don't know about it, they could be locked out of their accounts, lost their password, or unfortunately they could be deceased. Whatever the case may be, in our particular network, those tokens go back into circulation. And one great idea we found what to do with them is through universal basic income, which is what about 80% of the globe, uh, needs right now. We also see it as a mass adoption vehicle, um, and, uh, that would give us the ability to create a cryptocurrency that serves as a good money, uh, under certain price controls. Uh, so coupled with the largest cryptocurrency network, which is Bitcoin, trying to solve that problem and trying to onboard users to try our network. And then coupled with universal basic income being such a hot topic right now and also a huge problem that needs to be solved with approaching automation and robotics. So much so that even in the nation I live in, the United States, we have a serious candidate, businessman, entrepreneur, who's running a platform solely on universal basic income and gaining quite a bit of traction. So, uh, very interesting. And we think that this can create an evolution in cryptocurrency that moves us ever closer to mass adoption. And we think these are some of the best ways to do it. Now, to talk about Steam Engine real quick, to understand what's going on over there. We right now trade on a network, the value of our token, called the Waves network. Waves, um, is very fast, very efficient. It uses a cross of proof of work and proof of stake, which we think is going to be paramount to solving many of Bitcoin's problems, whether it be the scaling issues, the speed at which it moves. Uh, Steem has a similar feel. It's very robust, it's very fast, um, and it uses the delegated proof-of-stake mechanism. And all of these variety of hybrid systems we believe help to solve this issue. With Steam, the Bitcoin MYK token will trade on a project now they have called the Steam Engine. And I'm going to get over to that page right quick. Just bear with me a second. Okay, we made it over there to Steam Engine. And as you can see, It's basically an exchange, and this harkens back to the early days of Steam where they wanted to create the Smart Media Token. They want to basically become a token creation system similar to what you get with Ethereum or Tron now. And this is not SMT, but this has all of the merits of SMT Steam Engine, and it's very exciting because we've been waiting quite a bit of time for something like this. But what we're looking at here is their native token called the ENG token. And you can see it's trading against Steem. And this is what will happen with BitcoinMYK as we make this move. It will now trade against Steem on this particular network. And so we're conducting an airdrop, means that everybody who has a Steem wallet will have access to this airdrop. That is because the tokens created from the unclaimed Bitcoin holders will be distributed to the Steam holders. And right now the airdrop will consist of about 1,000 tokens, and we have estimated right now to do up to about 1,000 Steam accounts that can receive this airdrop. And that number may increase, it just all depends on how the Bitcoin holders are claiming, but right now it is available and we're going to give you instructions on how to do that and how to claim this token if you're part of the Steem blockchain. So I'll read here how to get the tokens. You get them on our site here, BitcoinMYK. This month BitcoinMYK will also be available for trading in the Steem ecosystem on Steem Engine trading market. If you hold STEEM in your STEEM wallet, you are eligible for this airdrop. To receive your BitcoinMYK airdrop tokens on STEEM, simply post your STEEM address name in the comment section below. And that will be talking about the post that will be on steemit.com, uh, with these details. Register to post, however you do not use any real life information. You may use dummy email. So on, on BitcoinMYK, you will be putting your Steam wallet address and you will make a comment over on this video. A simple comment can be a hello, just to verify that you're basically the owner of that Steam wallet. Upvote the post and make a comment on the video of the same title. We very much appreciate that. Your tokens will be issued to your account on Steam Engine. If you already have BitcoinMYK tokens on Waves network, which is the network that the token is actively trading on now, you will receive equal tokens on the Steem network. So it's still one network, it's still the same amount of tokens, and so everybody will receive the same amount of tokens no matter what network it's on. You may— and again, that's important for us to be able to move Bitcoin value move Bitcoin MYK value across networks. You may also open a wallet in the menu, go to the Waves thread on this forum. Uh, and that's just saying that, uh, if you are a Steem holder and you hold Bitcoin, uh, uh, MYK tokens on Steem blockchain, in order to hold them on the Waves blockchain, you'd only— you'd need to, um, set up a wallet over there so you can get your tokens over there as well. Uh, and if you have any questions, you can also leave them here in the comments section on the thread. But we're very excited about that, guys. We think this is going to solve a lot of problems. We think you'll like how the system works. And if you want to know a lot of full details about the BitcoinMYK project, be sure and like and subscribe to our channel. Well, you don't have to like it, but if you subscribe to it, you'll be able to, you know, get up, read up on a lot of information on BitcoinMYK, read up on what we call the L. Drake equation, which is how we're able to stop the double spending and, um, be able to move this representative value of Bitcoin across these networks. So again, very excited about that. Um, if you have any questions, don't forget to, uh, contact us. You can do it either on the website, you can do it on the comment section, uh, you can, uh, do it on the support, live support on BitcoinNYK.com. But that's all I want to say in this video, guys. If you like content like this, don't forget to like, subscribe, and until next time, take care.
