In this video, the presenter explains a project that links Steemit’s delegation feature with a Bitcoin fork token (BitcoinMYK/BTM) to fund a Universal Basic Income (UBI) program. Users can lease their Steem Power to the project and receive BitcoinMYK tokens in return. These tokens can be traded on the Waves DEX, redeemed for up‑votes on Steemit, or used on other social‑upvote platforms (WhaleShares, Tribe, Mithril). The model is framed as a win‑win: delegators retain value (or even gain a small premium), the project gains voting power to generate value, and the resulting token pool finances a UBI scheme aimed at hyper‑inflated economies such as Venezuela, where a modest $12.50 monthly stipend could meet basic needs. The presenter also discusses the broader business case for mass crypto adoption in such regions, the speculative upside of the token, and the need to redistribute crypto wealth after large market crashes. Viewers are invited to participate via delegation, up‑voting, or filling out a form to receive tokens, and are encouraged to like and subscribe.
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Hey you, welcome back to the channel. And guys, I hope you've had a great weekend. I just got back from dinner, having a great weekend and feeling pretty good. Wanted to, uh, talk to you all a little bit about the platform Steemit Delegation and its connection now to our project and some, some new things we're doing with Steemit Delegation and our Universal Basic Income program, which is part of our Bitcoin fork. Um, it is funded by our unclaimed Bitcoin and YK tokens. And so what we've discovered, guys, is we've discovered a way in which you can make money help people and at the same time not lose your investment, right? And, um, so to speak. And we're going to explain that, um, and so it becomes this win-win type situation. So let's explain how this works, how you can, uh, do all these things, make money, invest in this project, and not lose your your initial value, right? And so how it works, guys, is in Steemit, and Steemit is quite unique for this, they have something called delegation. And how delegation works is when you accrue and purchase Steem, you can place it in Steem Power, and as your Steem Power grows, you get to control much of what they call the rewards pool. And so that, that STEAM can be leased out temporarily to people for a week, 2 weeks, 3 weeks, 4 weeks, whatever the timeframe you wish. And you can always recall the leased STEAM back. What that does is that gives throughout the Steemit network, the opportunity for us to upvote content which has value in their, in their Steem dollars and currency. And it allows us to circulate this value across the network and at the same time give rewards to the people who leased out the Steem to us. So How this works, guys, is that when you delegate the STEAM to us, uh, what will happen with your account is you will receive a replacement token, the BitcoinMYK token, uh, for whatever amount of STEAM you leased us. And right now, I believe the price of STEAM, the last time I looked, was around 26 cents or something like that. Uh, and the, the price on the market value of one of the BitcoinNYK tokens right now is about 35 cents. Okay, so it's almost 9 cents higher, but it's almost comparable in value. Um, and so what happens is as you delegate Steem over to us, you receive these tokens. Now, what can you do with the tokens? They trade for blockchain currency, cryptocurrency. We trade against Waves, trade it over on Waves decentralized exchange. Um, but you receive these tokens that can be traded on this exchange, but at the same time it has cross-chain capabilities. So you can basically, if you don't want to trade it over to third-party exchanges, you can actually redeem the tokens, uh, back to— from upvotes, uh, to you. So we'll give you a full upvote back to your account, if you— once you get these tokens, once you reclaim your, your leased Steem, and or whenever you can, as soon as you do it, you can start getting these votes back, uh, with these tokens. And so it, it represents a win-win situation for the, um, the person delegating the Steem over. Now Being able to do this, of course, builds value up in the network and pools, and we're able to, at that point, be able to circulate in a very interconnected way our value back and forth through Steemit and so on. And this gives us more value to be able to give value over to the Universal Basic Income program. Now, um, one of our first target areas is going to be nations like Venezuela. We do want to expand across, uh, the globe. Now, the reason hyperinflated lands like Venezuela and others make a lot more sense, because we found that very small amounts of money, the average budget of about $12.50 a month, is enough to meet the basic needs of, of most Venezuelans, and they are comparable in similar countries around the world in the same situation. And so this is a significant, uh, value to these groups of people, um, and so we can accomplish it with ideas like this. Now, um, what's also very important looking at this from a business standpoint is the currency situation in Venezuela is quite dire. It takes, uh, just, uh, people travel with, uh, briefcases full of money, truckloads of money just to buy, just to go grocery shopping, just to be able to buy a cup of coffee. Uh, and so we believe if we can offer more value in our cryptocurrency to people like this, that we will be able to be more of a value cryptocurrency to them, which means they'll use it more and it could become, in theory, their replacement currency. And that would represent a significant push and probably the first token that can mass adopt on a scale like that. As our most biggest cryptocurrency at this point, Bitcoin, has only about an estimated 50 million wallets. Uh, it's, it's that many people in Venezuela just about alone. And so we can see this being very positive. And so it's a win-win situation, guys. We think this represents, uh, and I think with the circular economies of Bitcoin, MYK, and Steemit, we could have a great situation there. But again, from a business standpoint, if mass adoption in having full value and use of a cryptocurrency isn't enough for you, if you're more like a speculator looking at the speculative nature, uh, well, we quickly rose from about 1 cent to a dollar and came back down to around 35 cents here. And so there is a lot of potential just in trading our token on the market. But if you want to play it safe, again, you can just use the tokens in Upvote. And how it will work, whatever amount of STEEM you delegate, it will be given— you will be given that number back in Upvote. And so it will represent a win-win situation for you. And I think one of the first very interesting and great ways to create this very circular economic economy whilst at the same time having this exponential growth of users and value, once we can properly introduce universal basic income, which we I feel is a mass adoption vehicle. At the same time, you can help to feed people. One issue that's happened quite a bit, quite a lot in the cryptocurrency space has been we generally have these dips, these huge dips. 90%, the last dip took about 90% of our value. Now, A lot of people made a lot of money still, and a lot of people at the tops continue to make money because they're still in profits. But what we have to keep in mind, guys, is a lot of these people got this value, uh, by it, you know, by many of these tokens being given to them or them being in some situation to FOMO in earlier. But a lot of the value that has been concentrated at the very top has created very little distribution for the rest of the cryptocurrency space. And until we address that, I think we're going to continually have a large problem with growth in, in use of cryptocurrency because a lot of those people just kind of quit and went home. And so we did have a big introduction into the cryptocurrency space, but a lot of people aren't staying because it's just not value representing or giving over good value to them. So I think we really need to rethink our strategy there, and I think it possibly may be things like this that may get us there. Um, and so, um, it— I, I think the point I'm making is that when we had that 90% hit and maybe some people were still able to drive home in their Lambos or still pick up some Lambos, and this value and, and wealth concentrated to this very small area, I think it would have made a lot more sense to me, and I would have felt a lot greater about myself, and maybe you guys as well, is we had took a 90% dip, but then you found out, well, we took a 90% dip, but guess what? We fed an entire country of people. We fed an entire city of people, and now they're all adopted to cryptocurrency and their business structure and their infrastructure's all connected, and the entire country's taking your cryptocurrency, right? And that's what could happen with this, guys. And we only need to make the necessary steps. And a small one like this is a great way to get started and to get us there. And so there's no limit to the amount you need to delegate over. Any amount is accepted. Let's say that you don't have much to delegate. You just don't do delegation or you're not interested. We also have another means to accomplish this. And that is if you upvote our post, you can simply fill out this form here on our website. Link in the description. And if you let us know how much you upvote us, uh, we will reward you that amount in Bitcoin MYK tokens and our BTM token. So you can have the same thing, but, or the same idea, like, but, uh, with delegated, um, STEAM, you do get, you know, you get it back. And, and so in that case, it's like a win-win situation for you. Um, Now, many of these other sites are not like Steem, so they don't have the delegating feature. But if we come down to WhaleShares, and here's our WhaleShares form here. WhaleShares is designed similar to Steem, and we are on WhaleShares. And so WhaleShares, if you upvote the content, you can simply let us know what you upvoted, what percentage you used to upvote, and we can kind of gauge what the value is. And as long as you have a Waves wallet, which is free and easy to get, we can send over those tokens to you, which you can use in Uphold, or you can use them to speculate in our third-party market. So this is a Bitcoin fork. And we also thought that would be very important to the value of the token because in a Bitcoin fork, there will be— Bitcoin is the largest wallet holder. So members of the Bitcoin community will want to participate as they can claim their tokens from the fork. Fork. And so we can achieve a much larger value-wise network by this approach, yet at the same time, uh, providing value as a cross-chain token and having this circular economy where people can move from one platform to the next. And we think that'll create a great situation for many of us in the cryptocurrency space. But, uh, if you use, uh, WhaleShares, we, uh, if you use Tribe, uh, we now are going to be working as well with Mithril. Any of these social network upvote systems, you can do this with. If it doesn't have delegation, you can simply input what you upvoted us at, put the amount, we will send you over the tokens, and it's a win-win for you. You get the tokens, you can redeem them for upvotes, or you can, you can redeem them for, or you can speculate in the market against the Bitcoin holders and many others who feel this value will rise up and create quite a great deal of value for us. So guys, that's all I want to tell you about today. Excited about this opportunity. We think it's a win-win for you guys. Uh, we think it's a way that a lot of people can get helped in the process through our Universal Basic Income program. And last but not least, guys, if you like content like this, don't forget to like and subscribe. And until next time, take care.
