The video opens with a quote from Elon Musk emphasizing the looming challenge of mass unemployment and the likely need for universal basic income (UBI) as automation spreads. The host then examines recent Tesla statements about cryptocurrency, noting that Tesla will not sell Bitcoin but is interested in using crypto for transactions once mining becomes more sustainable. The host discusses Musk’s influence on crypto markets, especially his comments about possibly accepting Dogecoin, illustrating how his tweets can cause dramatic price swings. The narrative shifts to a critique of Bitcoin’s energy consumption, citing a claimed 40% increase and arguing that Bitcoin’s proof‑of‑work model is environmentally unsustainable. The host advocates for greener consensus mechanisms such as delegated proof‑of‑stake (DPoS) and suggests that Bitcoin will not be the future of payments. Dogecoin is examined as a meme coin that once exhibited price stability and low transaction costs, but the host notes that Musk’s endorsement has made it volatile, reducing its utility for payments. The core of the video introduces BitcoinMYK, a proposed side‑chain/bridge cryptocurrency that combines Bitcoin’s deflationary nature with UBI distribution. The host claims BitcoinMYK is designed to be highly decentralized, well‑distributed, fast, fee‑free, and powered by DPoS, positioning it as a better fit for Tesla’s future payment needs and for delivering global UBI. The video concludes with a promotional call‑to‑action.
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What to do about mass unemployment? This is going to be a massive social challenge. And I think ultimately we will have to have some kind of universal basic income. I don't think we're going to have a choice. Universal basic income? Universal basic income. I think it's going to be necessary. So it means that unemployed people will be paid across the globe? Yeah. Because there is no job? Machine robot is taking over.
Welcome back to the channel. I hope you're having a great day. So today we'll talk about Tesla accepting Bitcoin MYK, not accepting Bitcoin, but Bitcoin MYK. Uh, and let's just talk a little bit about, uh, what happened with Elon Musk and, um, this very interesting turn of events. Maybe give you all a new set of eyes to look at it through and in consideration of some things. So, um, the infamous tweet that came out where Elon Musk caused Bitcoin price to surge— dropped 17%, rather. Tesla will not be selling any Bitcoin and we intend to use it for transactions and soon as mining transitions to more sustainable energy. We're also looking at other cryptocurrency that, that use less than 1% of Bitcoin's energy transactions, right? So this is what kind of caused the, the, the entire situation. And of course, we know after that, Elon Musk asked the question, should Dogecoin be more in consideration of being accepted by Tesla. Um, and this is interesting because it just shows the tremendous amount of influence, uh, that people can have over the cryptocurrency market, uh, that they are easily, uh, able to shift, uh, in their directions based on certain things. That they're easy, easier to be manipulated to a certain degree. And I don't think Elon Musk necessarily meant any harm. And of course, it's all as many conversations and many sides to this, some of which dealing with it's all been debunked about the energy uses of Bitcoin. But where I look at this is whether it's been data that backs up what Elon says, uh, that came out today saying that there has been significant, uh, movements in the, uh, energy consumption of Bitcoin, uh, especially during the period of time which Elon came in over the last few months. It's been something I believe like a close to 40% increase, right, um, in energy consumption. So it's gotten provably a lot worse. And despite many Bitcoin believers, that has been the case, that energy consumption has went up dramatically. But here's, here's where I look at it and here's what I see, that those algorithms in themselves were going to be a problem and they were going to have to be a replacement algorithm for them going into the type of future with the type of narrative we have, which is one based primarily on green energy. You know, most of the millennials today are pushing green energy. Most of our world politics is pushing green energy. And so sustainable energies has always been a big deal, right? And so that's something that's never going to go away. Uh, we're not going to have futures where people always just state facts about green energy, but it's always going to be a narrative that's going to exist with us now for now on about the importance of sustainable and green energy. So, you know, whatever the facts are, the reality of the situation is that the concept of green energy and getting better at keeping the earth clean is always going to be a major focus. And, you know, no matter how extreme it gets, it's going to be there. So there's not going to be any such thing as, oh, it's not that bad. I think it's just going to move to how much better can we make it, right? To the point where we're not wasting energy consumption, so on and so forth. All right. Like if you look at certain places even like the United States that use far more energy than many places around the world. So it's always going to be this conversation of waste to the environment, right? And that's a conversation that, uh, we care about now. So it's not going to be any getting around that. So the algorithms themselves are going to have to change, and that's why, you know, delegated proof of stake proof-of-stake algorithms, new algorithms, uh, that cut down the waste, uh, and that have governance models are going to be the future. And, uh, I don't feel that's going to be Bitcoin. And I, I think that's kind of what Elon Musk is, is, is pointing out for us, that it's not going to be Bitcoin. And many of us believe that it's not going to be Bitcoin. Now the unfortunate part is that, uh, well, we also don't believe it's gonna be Dogecoin, but I can understand the draw. I'm not a Dogecoin person, but I can understand the allure that Elon Musk has to Dogecoin because in the strangest way Dogecoin is one of the most purest cryptocurrencies. Now hear me out for a second. What a lot of people don't understand about economics and, uh, our monetary system is that, uh, when many people came into cryptocurrency, the, uh, enormous amount of instability in our systems pushed many people to become speculators. I don't care who you were, if you're in cryptocurrency now, it's about 90% chance you're a speculator and you're not a person who's just using cryptocurrency for its usefulness, right? Dogecoin— here's the weird— here are the weird facts about Dogecoin. As a meme coin, Dogecoin for many, many years stayed very, very stable. Right? You go back to Dogecoin, Dogecoin would always pretty much be the same value, right? It had enough popularity to remain a top cryptocurrency, yet at the same time a large enough supply for there to be stability of price, right? And that's very interesting. That, that is a big deal, and it is a very odd turn of events for a cryptocurrency that was created as a joke. And maybe that's the idea. Maybe because Dogecoin was looked at as something you couldn't— as not something you get rich off, uh, that it was there more focused on the use of it. People could do transactions cheaper with it right across the globe. The fact of the matter about a currency is that a currency has no more use at $1 than it has at a million or a billion dollars. It is a medium of exchange, right? That is its only purpose. Its purpose is function. Its purpose is not to make you rich. Its purpose is not to gamble. Its purpose is none of that, right? When you wake up in the morning and you go in your pockets and you take out the currency of your land of your choice where you live, you want that money to be stable to do the things you want. Through your commerce through the day. You do not want your dollars to be worth hundreds of dollars, uh, $1 to be worth hundreds or thousands of dollars that evening, because if that were the case, it would have been in your best interest to hold on to it. If you hold on to it, you cannot use it. So the thing with Dogecoin, Dogecoin hit a lot of the areas of usefulness in a very odd way. Now here's the problem with Dogecoin. Now let's say I agree with Elon, as I do, uh, in his approach to this, because I, I know a lot of people get upset about Bitcoin and Bitcoin's future. But let's level, or let me level with you, Bitcoin is not the people's cryptocurrency. It's not the people's currency. It's not the people's coin. It's a horrible currency, and it is not be any type of vehicle of economic prosperity. And if it's not going to be that, I don't need it, right? I already— we already got gold. We, we don't, we don't need something for rich people only to have a means to protect their capital. And that's the only people who really use gold. And that's the only reason that most people in their personal finance would want something like gold. Most people find gold useless. Um, and so, excuse me. And so what I'm saying here is, uh, pardon me. You take something like Dogecoin, and at one time it did have stability, which means it would have been great to be used, uh, to take payments and a variety of things like that. But excuse me again, uh, but, uh, after Elon start to endorse Dogecoin, of course Dogecoin went crazy. It's ridiculous now, and it's not really stable like it was. We don't really know what the price of Dogecoin is going to be. So it's like these other cryptocurrencies, um, And that's what makes it bad for payments and things like that. When you're like considering all those things, a project like BitcoinMYK, as you can see at the beginning of the video, and what is BitcoinMYK? BitcoinMYK is, think of it in simple terms, as Bitcoin meets universal basic income. Now, why is universal basic income so important to cryptocurrency? Not only is it solving a rural global problem that many experts believe will be necessary in the future, as you can see at the beginning of the video, UBI is also the best distribution system in cryptocurrency. So if you want economic prosperity, if you want decentralization, you cannot have decentralization without good distribution. In other words, we cannot have a Bitcoin that looks like our present-day economy where 1% of the people own over half of all the world's resources. I don't believe that's why we came to cryptocurrency, but we have to face those facts. That's what Bitcoin has become. And although I respect the creation process of Satoshi very much, the fact remains that Satoshi or the Bitcoin that exists today, I don't believe shares the vision that Satoshi had. Um, so BitcoinNYK checks all those boxes, right? It's as deflationary as Bitcoin. It is more well distributed than any other cryptocurrency, or will be. It, I believe, will end up the most decentralized cryptocurrency, and it is faster than Bitcoin, and its transactions are conducted on delegated proof-of-stake algorithms, which means that, uh, it moves on blockchains that are— the transactions are free. Um, it's secure and it's efficient, right? Because BitcoinNYK piggybacks off of different algo systems as is also a Bitcoin sidechain universal bridge cryptocurrency, um, and so it can function on many chains with different algorithms. Um, so it's a very interesting project. I believe that Elon Musk is most certainly looking for something like the Bitcoin MYK project, um, that's going to do those things. And I believe if he, uh, were to really take a look at it uh, which I believe at some point is going to come on his radar, uh, as the project does plan to contact Tesla Motors about, uh, being, um, accepted as a means of payment. Um, I think that that conversation will be a good one. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, as always, take care.
