Tether Gold Review - Vs Btcmyk UDS

Naftali is a leading expert on Nazi plunder. Today he's gotten a rare opportunity to visit what might be the Nazis' favorite hiding spot for their secret stolen goods. Today I'm 2 hours outside of Frankfurt headed to Merkers Mine to see where the Nazis put the gold that they had plundered from Europe at the end of World War II. The town of Merkers is still home to a working salt— Welcome back to the channel. I hope you're having a great day. So today I want to take a look at Tethergold, and this is from the History Channel. This is during World War II. This is an excerpt from a, from a show talking about gold that was stolen from Europe, how the Nazis stole out all of the gold out of Europe, and it got so bad that When the British found out what was going on, they had, I believe, was pretty much all their gold shipped to the United States. So, you know, crazy, crazy stuff. So why are we starting the video off like this? Well, to understand that anytime you're dealing with the tangible versus the intangible, tangible is going to have some problems because it means it's always a place I can go find where your tangible goods are. And that's going to open up a lot of situations for theft and plunder. And, and, uh, was such the case in World War II Europe. Um, but we're talking Tether Gold today, and, uh, the reason we're talking Tether Gold is because many of us feel that, um, or many in the cryptocurrency space, or some in the cryptocurrency space feel as if gold might just be the answer. First it was security tokens we thought would solve the problem, then we thought it would be Libra coin or Calibra under Facebook bringing mass adoption with social media and its far reach. And now it seems to be stablecoins in some cases which are Ether going to be backed by some tangible commodity such as gold is going to be our solution in cryptocurrency going forward into the future. That seems to be what we're looking at now to save us. We're going to explore in this video a little bit if that is going to turn out to be the case. So we're talking about Tether. Tether, this is the same Tether that most of us in cryptocurrency has used, uh, as our stablecoin. And it's been a coin that's went into valuation in the billions. It's on the Ethereum chain. Tether Gold is looking to be on the Ethereum chain and the Tron chain because of their similarities. Um, but of course we're talking about the same Tether that according to this article here in Cointelegraph was criticized for its opaque reserve management, with one high-profile class-action lawsuit alleging that the company used this to manipulate the markets in 2017. In addition, Bitfinex reportedly used Tether reserves to cover a liquidity shortfall following issues with its payment provider, Crypto Capital. So many of us already know this story. We knew about the New York, um, State Attorney General who was basically going against, you know, Tether. The auditing that's been with Tether had been problematic for many a cryptocurrency over the years. And I think just the concept of backing a cryptocurrency with a fiat currency seemed to be quite oxymoronic. To many of us. So is this better with gold? I think it's better with gold, but I do think we also have to keep in mind that anytime we're talking about gold in relation to audits and where the storage of this gold is, I remember this very hilarious story in the United States. We hear a lot about Fort Knox and how it would go is they would talk about how Fort Knox broad these gold reserves are supposed to be kept, that the security equipment to protect the gold, um, was, you know, cost more than the gold that was inside the, you know, the reserves. So I always found that funny. Whether that's true or not, you know, nope, you know, nobody's been in to inspect the gold in Fort Knox, right? So we don't know. And that's going to be, I think, a common problem We already had issues with Tether during its audit of the US dollar. Now what will happen with gold? Will we have a similar problem? Who's going to handle the security for this, right? When will inspectors be able to go in? You see the problem, although I do think this is a step up, you know, pegging something to gold, especially in these times, right, where gold's having a really good run. Part of the problem is still in the auditing of the gold, right? And this has been a problem that's went on forever from the very, very start in our human history of where gold was held by the goldsmiths. It wasn't long before the goldsmith found out that when people put their gold in his vault, they weren't doing anything with it. And because they weren't doing anything with it, the goldsmith became clever enough to go, hey, well, if he doesn't— if he has his gold here and he's not using it for anything, I could loan this gold out. I can make money off of it. I could put the gold back before he comes and withdraws the gold. Now, of course, the problem the goldsmith would have is when the person gets back and they're demanding their gold and there is no gold because somebody has went default on their loaning out of the gold or something to that effect, right? Um, and so this was a game, a shell game that the goldsmiths would play. Fast forward now, we're still playing that game, and that's why many of us are in cryptocurrency. The issue is tangible things can be manipulated, right? So whereas I do see Tether as a step up that is going to be a— Tether Gold, rather, I'm sorry, is a step up over the US dollar. The auditing, the security, um, is, uh, I think going to be an issue, especially with the, the history of Tether. But not only that, we have to bear in mind that although this sounds like a new thing, uh, the backing of assets, commodities, with cryptocurrencies is nothing new. There are several dozen projects that already do that, um, and, uh, um, you know, they— I don't think they've really solved the issue with cryptocurrency, and it certainly hasn't, I don't think, really lends itself over to the idea of cryptocurrency, right? And cryptocurrency, if we look at something like Bitcoin, cryptocurrency is all about value being backed on the network and the security of the network itself, right? And the participation in that network and the, if you will, governance or representation of that network. But it's not really based on tangible items. And so whereas a lot of us are now moving into that direction, going with, um, these, um, commodity-backed, uh, stablecoins is going to be the answer. Where I do believe it's going to be a step up from where we were before, I don't necessarily think it's going to be an answer. So if that's not going to be an answer, let's explore some ideas what may be an answer, especially more relative to what's happening in cryptocurrency. So what are some ideas that might be the leap forward next in cryptocurrency. Well, if we come to the conclusion that anytime something's going to be tangibly held outside, uh, where somebody can find it, or if it exists someplace, it is possible for it to be stolen. The world can't hardly even hold it. We just start the video off with how the Nazis went around Europe and they stole all the gold. right? And had they expanded even further, they're going to get access to it. You cannot have a tangible commoditized anything that cannot be stolen or compromised in some way or falsely audited, right? It's just going to be very difficult for that to, uh, be an overall solution. How do we get around this? So we're exploring a new concept in cryptocurrency. We're calling it the UDS system or the UDS approach. It stands for Universal Basic Income Deflationary System. Now that's a lot of things to say, but we're going to explain to you a little bit how it works, and we're going to, uh, introduce you to a new way to think about cryptocurrency stablecoins and stability. So some would say Bitcoin itself is really a stablecoin. It's become the ultimate stablecoin as the mass of Bitcoin has built up. Although cryptocurrency still represents quite a great degree of fluctuations in market prices, Bitcoin has narrowed the spreads, right? It has become a great deal more stable um, over its time in cryptocurrency, more so stable than any other cryptocurrency pretty much out there besides these stablecoins backed by what is supposed to be a fiat currency. Again, an oxymoron idea. But, um, Bitcoin has really stuck more pure to the idea of cryptocurrency and how we could kind of create that stability in the cryptocurrency market. So I would say Bitcoin right now is the, is still the, the, the more, the thing closest to a stablecoin itself. You know, if you move money out of one cryptocurrency, you're probably going to move it into Bitcoin. Probably going to feel it's a lot safer in Bitcoin than other coins. If you put it in a stablecoin, you are risking the idea that the emperor has no clothes, right? That maybe that money's not there. Crazy, crazy to think about, but it is the, the reality we live in in cryptocurrency. So let's introduce you to a new idea. So if Bitcoin, some Bitcoin idea, uh, is more close to, I think, a pure idea of a stablecoin, what, how do we, or how are we able to kind of contain an idea like Bitcoin but make it better? Right, make it more stable than it is, and also even make it less manipulative, uh, than, uh, maybe Bitcoin itself, because it's possible that one entity can move Bitcoin 20%. So that's certainly an issue, but is there something else we can do? So this is a different approach to this, right? The Bitcoin NYK UDS system. And how it works is, this is quite interesting. So what's the one thing that can't be manipulated? That is human value. Let's throw some numbers out at you for a second. It is stated that, or, or the data is saying that there is enough land and resources on the earth Let's use money and value interchangeable with resources, right? Because remember, money is just a representation of a right to control resources, right? A medium of trade. And, um, and, and the data is something like each human could own about 7 acres of land on the earth. Every human on earth, right? So That kind of puts a human being at a certain value level right there as far as resources. If it— let's just say if it was everything was fairly distributed amongst every human, right? So there would be a certain amount of value in every human being. Now let's take it a little bit further. Let's take it a step further. Um, let's look at the site here. We'll get to it in a second, but Um, let's take it a little step further, right? Let's say if there was a way we can, in a more efficient way, tokenize that value to the point where instead of being concerned about logistical concerns about how to extract that value, we could just kind of do it based on the human being, right? How would you be able to calculate that and tokenize that? Well, one way you would be able to do it is similar to how as a network being represented on a social media platform, we do it now. Now it is stated by people like Andrew Yang that our data is the oil of the 21st century, right? Meaning we are now, we are seeing the value in social media. You know, we can conceive value in social media similar to like looking at something like Facebook, at with 2.5 billion users is worth about, um, about half a trillion dollars, right? So we can perceive a value like that and we can, based on that, put together a type of model, right? In other words, we could say that as people come into a network itself, that is just— that is substantiating the value of that project, right? It's just as much as we can do an analysis on the data, Facebook, so on and so forth, and they could come up with a value value for that, for that business, right? For that company. Um, we can do a similar thing here. Now, why would you want to do that? Because, well, with human beings involved, we would know, we would know that the value is there right now. Once we know that the value is there, we can back it up with the, with the cryptocurrency. Um, now, interesting enough, um, This sounds a bit complicated, but if you tokenize everybody, let's— which is what our, our universal basic income deflationary system does. What it does is it can distribute out tokens to human beings. They don't have to pay for anything. The tokens are going out to them, and their value participation is in a sense minting that token into existence. They're getting the token, and now it's saying that based on the network itself, this is something a lot different than what you get in a standard cryptocurrency. In the standard cryptocurrency, the approach is, uh, there are some type of technology and this technology is going to be worth X, Y, or Z. The problem with that type of analysis is we don't know what that technology is going to be worth. It's only going to be worth as much as the usership of it. Now, the reason universal basic income gets justified a little bit more, not only is it a hot topic right now that's going on, it is more likely that a large part of the world is going to opt for UBI, right? Um, just the, the, the global economics of, of what is looming on our horizon, whether it be more future pandemics or whether it be an, uh, AI revolution, a robotics revolution of some sort. Right. So in looking at that and keeping in mind, uh, social media data being our new oil of the 21st century, it in itself being valuable, we can construct a model like what we've done with our UDS system of what potentially the value of our cryptocurrency could be backed against that network, backed against or backing that cryptocurrency as to say, that the stability and the belief of this cryptocurrency lies in the value of the network. Now I know a lot comes up with that, that that won't make a stable cryptocurrency, that we could still have, uh, cryptocurrency prices fluctuating all over the place. But that's why the D in the UDS system stands for deflationary. It is a It is modeled to move with the transactions to the point that the supply is being burned against the transactions at a rate where you're moving ever closer into a more stable, uh, more system of stability. Now, whereas I would say something like Tether Gold is a temporary solution to an ongoing cryptocurrency issue, I would say a model like the Bitcoin MYK UDS system is going to be, um, a long-term solution that I think will work to solve, uh, the issue that we could have with this in the future with stablecoins and why I don't believe overall they will work for some of the reasons that we just underlined during the course of this video. Um, it is a very interesting way to look at this human capital, human value as the method, the model to back our cryptocurrency. We've never quite done it like that before. A lot of people will say, well, it could be easily manipulated. Well, yes and no. Ultimately, these networks reach a value similar to what you get with Facebook, where its value is unrefutable, right? It's not debatable. Because it's easy for us to imagine that a network the size of Facebook is worth half a trillion dollars, right? There's also analysis that go into how to gain the value against the value of social media data and several things. So obviously the backing of the cryptocurrency will be directly relational with the growth of the network. But the deflation mechanism, again, when I'm talking about the deflation mechanism, I'm actually talking about how this cryptocurrency is burning in relation to the transactions. Ultimately, with enough growth in the network, create a very stable cryptocurrency, right? So it's a lot more details to it. Uh, would love for you to, to look into the model, to study it, to go on our website. You can see it's designed like a social media site. The reason that it's called BitcoinMYK, because It is relational to the ledger, the Bitcoin ledger, you know, meaning people based on the amount of Bitcoin they hold, they get the Bitcoin NYK tokens free, and it's in relation to their Bitcoin. But the unclaimed tokens go out in universal basic income to the rest of the globe, creating this stable money, right? Uh, due to the sheer scale and growth of it, um, and with universal basic income being such a hot topic today, we believe that this is quite plausible to see something like this happen, right? So very interesting. You certainly should check it out. Get some free BitcoinMYK tokens today. They are valuable and trading on, uh, will be 4 exchanges starting next week. Uh, right now it's on Waves, it's on Memo.cash, on Steam Engine, and next week it will be on Hive Engine. Right? So for exchanges that it's on, you get it free. You only need to register, follow the details, uh, instructions. We'll leave a link in the description. Uh, you can start getting your Bitcoin MYK tokens, um, uh, right, uh, right, well, almost right away as soon as you figure, you know, fill out and do the things, the steps you're supposed to do. Um, but very interesting, something to think about. Tether Gold, certainly a step up. Overall solution? I don't think so. Look at projects like BitcoinMYK. That's all I got to say in this video. If you like content like this, don't forget to like and subscribe. And until next time, take care.