The Bitcoin Designed To Increase In Price?

Welcome back to the channel. I hope you're having a great day. So the Bitcoin that goes up in value, um, now Bitcoin had, uh, since its beginning over the course of about a decade has had a return of about 5 million percent. Almost. And a lot of that's been due in large part because Bitcoin became termed as a store of value. In regard to the Satoshi white paper, Bitcoin was not, from what I could ascertain, regarded so much as a store of value as much as it was regarded as a digital currency to be used. And currencies are very important. They, they help to promote economic prosperity. They move value through velocity of money from one hand to the other, and that's very important in the sustaining of a healthy economy. Something that is a store of value can in some terms have a type of opposite effect is generally going to be, um, rare. Uh, it's going to be a fixed supply to some extent. Uh, and that's going to make it probably less likely to fall into the hands of a large part of the society because it's so hard to come by. It's probably expensive, right? So that's some of the issues with store value. Now, of course, the good— the good thing about store value is it can go up pretty high in value in some cases, right? Can help to preserve your capital against downside and losses. And so that's why they have such an important part to play. But taking all that into consideration, seeing that Bitcoin more so started as this digital currency from a very early period of time, first decade of the 2000s, and it was impossible for Satoshi to be able to, uh, see the future, to see the complexities cryptocurrencies has come into. It was probably impossible for him to have the foresight to make certain changes to Bitcoin. Had he known about the future, he probably would have made certain changes. But with all that said, imagine a Bitcoin, a Bitcoin-like product, a version of Bitcoin, a Bitcoin fork. A product that runs on the Bitcoin blockchain, however you want to look at and however you want to term it. Imagine such a project starting out from its inception with the idea of being a store of value. And how do you achieve that? Well, cryptocurrency and blockchain technology has allowed us to do something that we haven't ever been able to do in human history yet, and that is pretty much manufacture our own economy. No longer does there need to be accidental or incidental economy. We can pretty much do that from the inception with certain projects, certain fundamentals, and hence the idea of Bitcoin MYK. Bitcoin MYK is tokenized on the Bitcoin Cash blockchain. Now, some would argue that yes, but Bitcoin Cash is not the real Bitcoin. It is a some type of Bitcoin fork. It is some type of, uh, centralized, uh, something or another, but it's not the actual Bitcoin that was used to create this entire phenomenon. And in that sense, they would be correct. Where I believe they will find themselves incorrect is Bitcoin Cash behaves a lot more like a useful digital currency than Bitcoin does. And then thus Bitcoin Cash would have many of these similar elements that the Satoshi white paper seemed to speak about, right? It wouldn't really resonate with store value. Unfortunately, once people get their money invested in something, whether it's good or bad, they want it to be somewhat successful so at least they can recoup their funds, and that's understandable, but it doesn't negate the fact that they could be in products and projects that are not operating at their most optimal level or not performing in their original idea. And all that could be problematic down the road because it could spell out wrong directions and where you're going. So with Um, trying to determine or create a product that is from the jumpstart designed to be a store of value, it is very, very ideal. Now, it isn't very new. We have seen some other projects that have similarly attempted this, but I think the branding was bad. I think it wasn't going to do a good job getting the network effect. Because there are certain elements left out of it. Um, but with a project like BitcoinMYK, I think it has all the elements to get the majority— these, um, uh, uh, have the elements to, to, to create that situation. So how the BitcoinMYK project works is that It basically starts, it starts off with a slightly higher supply than Bitcoin, but as it gets closer to the, uh, um, or the network grows, the supply actually reduces, right? So it starts to get more close on par with Bitcoin, which is 21 million of the coins. Now, interesting enough, it operates and acts just like a Bitcoin fork, and that everyone that has Bitcoin will receive Bitcoin MYK free, right? Um, and so that's very important because what's happening there is now you're in a Bitcoin that's not only designed to go up by the transactions being burnt against certain, uh, use of the cryptocurrency, and now you're in. That's simple. Um, uh, with a growing network and with a Bitcoin product designed to go up in price from the beginning, not accidental or incidental, but it is designed to do that, you're probably gonna have quite a bit of success with that. So the Bitcoin MYK project, the Bitcoin designed to go up, and it has a, a dollar called the Bitcoin NYK Back Dollar, was a stablecoin that as the network grows, there is a certain amount of Bitcoin NYK set aside as a native token we just talked about to, uh, basically allow people who are using those dollars to, um, be able to redeem them, right, for those Bitcoin NYK Back Dollars. And this is basically behaving like a stablecoin or a backed dollar. It is not that in the sense of it's backed up by some fiat currency. It's actually backed up by the network and the redemption feature of being able to redeem it. Um, now in a very similar fashion to what you might get with some standard fiat currencies where You notice they can buy one more, can buy one over the other as one gains against the other. What you get in that sense is you get, um, what would essentially be, um, uh, the value of that currency going up. Now with something like the Bitcoin MYK or the Bitcoin MYK-backed dollar, as the value goes up, um, it is due to the network. And so there's a certain amount of inflation. But it's a gradual process in which there isn't a lot of hindrance to the value going as new money and new values coming in to that dollar, that currency. And as well, because it is a currency in that fashion, It kind of has a similar idea to what you might have with fiat currencies, the US dollar, as it gains more buying power, more people start to buy into it as, uh, uh, the other currencies around the globe start to fall in value to the US dollar. This is helping to correct that, uh, that, you know, that problem and, uh, allow for the Bitcoin NYK back dollar to have more buying power, so to speak, right? Which is how that would be an idea. But the Bitcoin designed to go up, what do you think? Do you think that in looking at cryptocurrency and witnessing that a lot of what's happening here is based highly on Bitcoin being a speculative device and The use of Bitcoin, although it is certainly a much greater and more used than it was 2 or 3 years ago, at the end of the day, there are still, um, uh, these, uh, uh, situations where, uh, you know, people aren't, uh, the— by Bitcoin not being, uh, from its inception created to be that way, um, you know, that, uh, you could have a situation where it could lose a lot of value or it can crash or something like that. And these type of situations are very difficult because a lot of times, like, um, people are able to, um, to get the cryptocurrency and, um, uh, it's not able to go up in value because such a large degree of inflation And, um, with the Bitcoin NYK BAT dollar, which is the dollar version of the Bitcoin NYK native. So just kind of think of it like if Bitcoin is like gold 2.0, then the Bitcoin product, it would be Bitcoin NYK would be gold and the Bitcoin NYK BAT dollar would be like, like your, your standard currency, right? And what happens is you can redeem that Bitcoin NYK dollar for that much of that BitcoinMYK token. Uh, so it's very interesting. We definitely encourage you to check it out, look into it. Um, and, uh, um, we think it's gonna be a great way to look at cryptocurrency because I guess the question I was trying to get to before I kind of lost my train of thought was that if cryptocurrencies, um, Uh, basically, uh, you know, if the idea is for them to be these speculative devices, and saying that it seemed that that would be the case, that there isn't necessarily a correlation between a good project in cryptocurrency and the price going up. In other words, there could be a totally set of different factors for why the price is going up in relation to is the price reflective of what it really is when it's going up. So I find that kind of interesting, but I think that's all I want to say in this video. The Bitcoin that goes up, do you think it'd be ideal to manufacture a Bitcoin that could go up in a similar capacity? Um, or do you just think, uh, um, such a feat would be impossible? We have some evidence to, to let us know that it is working to a great degree. And we think that it's going to prove to be solutions for many people. 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.