In this video, the presenter walks viewers through the January 2021 Universal Basic Income (UBI) distribution using the BitcoinMYK token on the BitcoinNYK ecosystem. Viewers are instructed to install the Zappit wallet from the Google Play Store, enter the referral code "BitcoinMYK," and receive three BitcoinMYK tokens equally across all network addresses. The presenter notes platform constraints—Zappit is currently Android‑only—leaving iOS and desktop users unable to receive payments, and suggests using the memo.cash platform as an interim solution. Technical hiccups are acknowledged, with a call to report missing tokens via Discord or the BitcoinNYK.com chat. The video then explains the BitcoinNYK‑backed dollar (BBD), likening it to a gold‑standard stablecoin: BBD is backed by the BitcoinMYK network, its buying power grows with network expansion, and it can be redeemed for BitcoinMYK tokens. The presenter highlights rapid price appreciation from $1 to over $1.11 within two weeks, attributing inflation to network growth, and assures that BBD’s price will not fall, only potentially face solvency issues that would trigger redemption. The narrative emphasizes community participation, the value of holding BBD and BitcoinMYK, and encourages institutional interest. The video concludes with a call to action to subscribe, join Discord, and stay tuned for future updates.
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Welcome back to the channel. I hope you're having a great day. So today we're going to be doing the Universal Basic Income payments for January 2021. Um, you do need a Zappit wallet in order to participate. Uh, make sure that you download from the Amazon Play Store— I'm sorry, the Google Play Store— and make sure you go under profile, type in referral code BitcoinMYK, and you can begin to start receiving Universal Basic Income payments every month. So let's go ahead and send out payments for this month. We're going to be choosing— let me make sure I got the right format first. Yep. We're going to be sending 3 BitcoinMYK tokens equally to all addresses in the network. Going to hit confirm. Total reward is going to be— all right, we have, um, 350 addresses in the wallet and we actually have over 7,500 registered accounts. Or 14,000 wallets or exchanges, but there are some system, uh, system restrictions being that, uh, right now that the Zappit wallets to hold our coins are only available on Android devices in the Google Play Store. So that leaves, of course, out many of our users who are either on iOS or desktop or what have you. So that's gonna limit them. We would in the interim encourage people to use the memo.cash platform, and they were always giving out cryptocurrency over there as well. But let's go ahead and hit the swipe to confirm, see if this is going to work. Also just want to put out there to everybody that, uh, You know, this is new. This is a new, um, pretty much new, uh, um, feature, uh, that we're aware of. And seemingly it doesn't always, um, you know, get tokens to everybody, right? Uh, I'm not sure why that is, but, uh, I think the last time we tried to send some, it only got like 50 wallets or something like that. And so if somehow your wallet is excluded for whatever reasons, as I'm sure that the Zapit Wallet team is working with any, you know, potential technical issues they could have, please feel free to come in our Discord channel, come in our— on our site bitcoinmyk.com in the chat section. And just let us know you didn't get your tokens so we can go ahead and get them out there to you because we might not know if you didn't get them, right? And so that's why it's important. Of course, this is rooted in the Bitcoin Cash blockchain, and, uh, to complete transactions and this many transactions, obviously going to take some time. And so we're going to just let that run, and, um, again, hopefully you'll get your tokens. But if you don't, don't Don't be shy about letting us know, um, and so that way we can get you the tokens, um, over to you. Uh, and we always leave our Discord, um, room address, uh, either in the description of the videos or, uh, uh, as well as the BitcoinNYK.com site. Just remember the address BitcoinNYK.com. Go over there, we have, um, live support over there that can assist you. Okay, so we're going to let that do its thing. It looks like it's doing a lot better than it's done prior. Looks like it's reached 11 addresses so far. Now we're going to let that complete. All right, all right. Now we want to talk about the BitcoinNYK back $1. Now that is the, uh, you kind of think of it like a stablecoin or Tether or something like that, but it is backed up by the Bitcoin MYK network. Um, if you were to kind of think of the Bitcoin MYK token as gold, then Bitcoin, Bitcoin MYK backed dollars would be the money, the currency, right? So, um, This is very reminiscent of what you had with the US dollar pre-1970s, where you could actually take dollars and redeem them for gold. Foreign nations that invested in the US dollar after the Bretton Woods Conference, I'm sorry, Bretton Woods, that was when they basically declared the US dollar a reserve currency, a global reserve currency, and you could actually redeem your dollars for gold. This is similar to how Bitcoin and YKBackDollars works. It just basically means that if you hold these things, they're inflationary, their buying power grows with the growth of the network. And if you ever wanted to redeem them, you could just simply, uh, through our platform, redeem them for the, uh, Bitcoin and YK token, right? Uh, as well, they have their market of their own that they trade on. And, uh, this is a new product, it's not 2 weeks old yet, and people are starting to learn about it. I think they're starting to understand the power of it, but they started, um, out at about a dollar per Bitcoin on YKBackDollar. Let's just get the charts. Um, I thought I was just looking at one, so I can try to get it up here. You can see that in less than 2 weeks, the inflation rate soared past, uh, 11%, and, uh, um, I have a little trouble getting that chart moving there. And, um, it soared past that less than 2 weeks. It went from $1 to now over $1.11. That means that in this very high liquid market, you can redeem Bitcoin MYK back dollars at any time. And here we go here. Let's see here. I want to Not sure if these charts— let's go to DApp. Um, I don't think these charts will let me show you, but I want to go back and kind of the prehistory of the Bitcoin NYK back dollar and show you where it did start at a dollar less than 2 weeks ago. Now the, the inflation rate of the Bitcoin NYK back dollar is, uh, um, correlational to, uh, excuse me, the growth of the network, right? So at the rate of growth for the network is going to affect the buying power. Now the kicker, and I think the very attractive part of the Bitcoin NYK-backed dollar, is that the price never goes down, right? It's kind of just like how the inflation rate of the US dollar is controlled. Price will never go down, but what will happen is you could have a solvency issue with something like the Bitcoin NYK Back Dollar. And that is why if that were to happen, then for every Bitcoin NYK Back Dollar you hold, you'll be able to redeem it for that value, that amount of the Bitcoin MYK token, right? Similar to how you could redeem the dollar for gold. So it is the same thing. We only feel that the Size of a network, the value of a network is more important than a commodity or substance because we believe that the most valuable commodity in economy is the people that participate in it. So, uh, that's how we view our model. We can tell you that a lot of people are beginning to like this idea of the Bitcoin MYK-backed dollar, and we expect a lot of participants in it in the future. People are doing quite well on holding Bitcoin and YKBack dollars. And I would expect that that will continue, right? But very interesting, the Bitcoin and YKBack, probably one of my most favorite cryptocurrencies in the world. I'm not just saying that because I'm being biased, but through participation in the network, we pass them out with a mixture of the Bitcoin and YK token. So you can earn these free. You do not have to buy them. Although if you are an institution or a fund or something to that, um, capacity, I would highly encourage you at the very least investigate the BitcoinNYK backdoor to see if it can be of value to you in your portfolios. We think you'll be, um, satisfied with what you see. Um, and I think that's about it. I think that's where I want to conclude the video. Again, your UBI payments This is free money, guys. This is free money in your pocket. Uh, it is definitely worth trying. Only takes about less than a minute to get a wallet, uh, and get registered to the site, and so that you can start earning these valuable cryptocurrencies every day. This project was created for you and to give over value to you and control your money, uh, and to put you in a much healthier better financial state of well-being, right? So make sure you take advantage of that. Um, and I think that's about it. Uh, just look forward to more, uh, interesting updates in the future on the BitcoinNYK project. We're gonna always have something new coming out. Make sure to subscribe to the channel, hear the latest on the, uh, our videos. Uh, check out our Discord channel. We'll leave a link in the description as well as the chat forum area over the BitcoinNYK.com site. That way you can, uh, participate with the community, get a much better feel for what the project is all about. And again, we think you're going to be quite happy with discovering this project. Um, until next time, as always, take care of yourselves and each other.
