US Stimulus Package Might Cause Improvement To Bitcoin MYK

Welcome back to the channel. I hope you all are staying safe amidst this global pandemic, and today we want to talk about why the US stimulus package may improve the value of Bitcoin MYK. Now, this has been quite a general conversation across cryptocurrency, especially with Bitcoin. Even before the pandemic went into overdrive here, there was a lot of talk about recession in the marketplace, and a lot of people were concerned about the correlation between Bitcoin and the stock markets, right? You know, as it seemed to move with the stock markets, and of course that was a concern. Especially if you're a cryptocurrency person who would like to have seen Bitcoin, you know, go at these very high valuations. That didn't seem to happen. Bitcoin seemed to drag down with the traditional markets and that created a lot of concern in people. Of course, with the pandemic then coming in right after, things got a lot worse. right? So what's happening? Will this stimulus package, anywhere from $2 trillion to $6 trillion by the time it's all said and done, will this have a positive impact on the crypto market overall? Why, uh, we're specifically talking more about Bitcoin MYK in this, um, particular video, and we're going to explain some reasons why that is, but we're going to kind of touch on, uh, overall, you know, what exactly does the stimulus have to do with cryptocurrency and what it has to do with, um, uh, you know, making the value and the price go up. So there's an article from Cointelegraph, and it's just talking about how the stimulus package targeted— or is targeted at those without disposable income. Even in the midst of a global pandemic, many crypto traders are expecting Bitcoin to reach all-time highs before 2021. Online searches for cryptocurrencies have increased as investors may be shying away from traditional markets while stuck at home. But this does not necessarily mean crypto newbies and veterans will be using their $1,200 checks to purchase Bitcoin. Part of the reason for the stimulus package is to help those who have lost their sole source of income or had it substantially reduced in the midst of measures to fight COVID-19, including being unable to come to work. So in short, basically they're talking about although there is this money now being flooded into the hands of those who don't have disposable income, namely those people who maybe are interested in cryptocurrency, interested in Bitcoin, just don't have the money to invest because all their money is going to bills, is going to pay for their lives. And now they get this flux of money However, although we at first glance might think that that could be helpful to the cryptocurrency markets, now obviously what's going to happen with a lot of these people is they have to pay bills with it, they're going to take care of their family. So, you know, it's being usurped right into things that are not available to them now, like their jobs, right? Like not being able to go to work. And so they're going to be probably even more careful with that money. So this article goes on to talk about how some people were predicting Bitcoin to go to $27,000, um, you know, um, but, uh, I don't know if that's going to happen. Uh, interesting enough, uh, there is another article probably on this platform I post on, and it's where the writer does a series of models that says that if only 2 percent of the first wave $2 trillion stimulus plan goes into cryptocurrency, it will represent about $44 billion if my number isn't incorrect. Now his numbers are quite different from this model that speaks about maybe us getting into the highs of $27,000. Um, His model was, excuse me, a great deal more modest. It's about 35% increase in Bitcoin if only 2% of the $2 trillion gets invested in cryptocurrency, goes into Bitcoin. It can push Bitcoin up maybe about 35%, right? So it's quite a jump. It's quite a jump. It's obviously it's not $27,000, not the $200,000 valuations. It's not the million-dollar valuations. And of course, Bitcoin has shown a great tendency to move with traditional markets, right? Because a lot of people, they just aren't— when they, even when they're in fear of these traditional markets, it's not exactly a green light telling them to, oh, okay, well, let me instead put my money in Bitcoin. You know, the other things that we need to pay attention to in cryptocurrency that we really need to look at, guys, is the fact that Bitcoin itself has been very highly inflationary, right? Its inflation rate has been bigger than the US dollar from year to year, right? And it's only now in 2020 that we will begin to see the Bitcoin inflation rate be more on par with the US dollar, right? So when we really think about the deflationary quality of Bitcoin, it is not performing in that sense dramatically enough to make people really want to jump in Bitcoin as bad, you know, they're not as enthusiastic. And the reason is because they're not making a whole lot of money in Bitcoin, or Bitcoin's not really shooting up like that. And especially when you're dealing with people like, which will be this new group of investors potentially, maybe a very small percentage of them, in the model I was just speaking about earlier, if only like 2% of that $2 trillion went into Bitcoin, those people who will have this disposable income, probably in their economic classes, they didn't have the disposable income prior, they're gonna be looking for something that's just gonna have big gains. And the inflation rate of Bitcoin is not gonna really allow them to do that. So I don't think a lot of them is going to really jump into Bitcoin like we think. But in, in, in, in, um, putting all that together, want to look at BitcoinNYK and say why it could be very helpful for, to BitcoinNYK. So we're going to take a look at BitcoinNYK. All right, so we're here at the Steam Engine Marketplace. And if we look here at BitcoinMYK, we can see it here. BitcoinMYK is up over 1,895%. Now, the reason that BitcoinMYK is able to do this is because of the inflationary rate is so low in BitcoinMYK. It is severely lower than the US dollar. It is severely lower than Bitcoin itself. As to say that the inflation that's being created by the mining operation of Bitcoin is all going back into the market and it's creating sell pressure to keep the price of Bitcoin down. That's why it's so hard for the value of Bitcoin to go up. That's why it can't jump to $100,000 or $1 million because of all that sell pressure and inflation coming from miners and so on and so forth to make the network work. Bitcoin NYK doesn't have that problem, right? It works on a proof-of-stake model. It is part of the STEAM ecosystem, which is similar to their version of ERC-20 token. It's also basically part of the— on the Mimo exchange, it's on Waves exchange. So it's on about 3 exchanges now, right? And these aren't huge exchanges and they aren't very, very high liquid ones. But the model of Bitcoin MYK is what we're looking at here, and it is what works and allows this to happen. So Bitcoin MYK, how it works is the reason it's called Bitcoin MYK, you know, to understand this, is that, uh, it basically acts as a fork of Bitcoin, right? Um, so if you own Bitcoin, you get Bitcoin MYK free. Now where it's different from Bitcoin is it does something Bitcoin doesn't do, and it becomes a great deal more deflationary. Every time transactions happen in Bitcoin MYK, the cryptocurrencies are burned, right? They're burned against the transaction, and the ratio is very high. It's like a 1-to-1 ratio. And so because of that, inflation goes out the window. Because inflation goes out the window and you're dropping the inflation rate, the value for Bitcoin MYK to rise becomes a great deal more easier, right? So you have the Bitcoin branding, you know, you have the Bitcoin network that is merging with Bitcoin MYK, but you also have, uh, this, uh, this deflationary mechanism that's at work here. It also has a social network, um, that is growing And that's very important to value in cryptocurrency, that there be some use in social media. Um, and that exists on the platform Bitcoin MYK. Um, all these things working together is creating a very interesting product within Bitcoin MYK, and it's what's causing it to perform so well and extraordinary in a time where it shouldn't. Now, Where does the stimulus package come in? Well, when the math was done on the stimulus package, if about 20, if about 2% of the trillion went into Bitcoin, it would push it up about 35%. So you're looking at Bitcoin maybe being around just under $10,000, something like that. Not a dramatic move at all, right? Not a dramatic move, or a little bit over $10,000, I'm sorry. But it wouldn't be a huge, huge move like, you know, what we're thinking about, $30,000, $100,000, $1 million. And because of that, that's gonna draw less people who don't have disposable income, who have it now, into cryptocurrencies, into ideas like Bitcoin. Now, um, why Bitcoin MYK would work a lot different is if 2% went to Bitcoin MYK, that'd be about $44 billion, right? You know, with a project with a market cap under a million dollars right now. So you're talking about $44 billion, you're talking about an astronomical, uh, uh, return, right? Because, uh, right now it's only 36,150,000 tokens, but that number is gonna, uh, burn down to be on par with Bitcoin at about 21 million. And then from there, we expect it to go to drop all the way down to 5 million, and then from 5 million eventually to 1 million. So you talk about a lot of deflation there, a lot of deflation to make a crazy amount of value, uh, in this, in this cryptocurrency, right? It's gonna be burn them up. And that kind of, to have that, just 2% going to BitcoinNYK, have $44 billion up from, if you're looking at the price, this thing's not even, it's fractions of a penny, right? It's not even as valuable as a Dogecoin, right? It's about, you know, several times below Dogecoin right now. I think that's gonna change. There's some great predictions for the BitcoinNYK project. There's some models that show us around about 13, $0.15 or something like that, right? So you're talking dramatic gains of like a million percent jumps based on this model. So if you really think about that, right, with just a very small amount of stimulus going into something like Bitcoin and YK, you're talking a lot of money. You're talking a great deal of value money, right? And of course we wouldn't expect to get to, you know, a rather 2% of $2 trillion or about $40 billion in this project. But even a very, very small amount of that. And I think we will see some of that. I think Bitcoin NYK will be a lot more attractive to especially those people coming into cryptocurrency who are looking for huge gains but don't have as much money as what it's going to take to invest in something like Bitcoin. They're going to have a better chance of something like Bitcoin NYK with the Bitcoin branding, but also with the mechanism that works best to make and grow value. That's going to be all interesting to watch, but I would certainly keep my eyes open at BitcoinMYK. I would certainly keep a lookout for BitcoinMYK. I think this project is going to surprise a lot of people. I think it's coming at a time, uh, in cryptocurrency and just in our world basically where we need it, because not only does it have the social network working with it, it does have a universal basic income program where value from the traffic goes into the platform itself, and that creates money and value and more into the project. So that's all very interesting, uh, and I, I think you guys are going to really like it if you check it out. But that's all I want to say in this video. If you like content like this, don't forget to like and subscribe and share, share this video across cryptocurrency. This is a great project I think many of you all would want to know about. And until next time, as always, take care.