In this video, the host discusses RoyalCoin (a Worldcoin‑like project that uses iris‑scan authentication) and compares it with several alternative identity‑verification crypto projects such as BitcoinMYK, Proof of Humanity, Circles, and Mana. He explains how these alternatives rely on decentralized social‑media profiles or other mechanisms instead of biometric scans, and outlines a two‑layer governance model where uniquely identified participants can join a governing body but may be excluded from receiving universal basic income (UBI) tokens. The speaker then addresses what he calls “unfair criticisms” of Worldcoin, defending its founder Sam Altman, arguing that token distribution is more equitable than Bitcoin’s, and claiming that data is erased after wallet creation, making privacy concerns speculative. He stresses the importance of using multiple identity systems as a failsafe, warning against reliance on a single protocol. Finally, he promotes BitcoinMYK as the most valuable alternative, invites viewers to subscribe, and encourages them to join BitcoinMYK.com.
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Welcome back to the channel, and today I want to talk about Royal Coin and some alternatives to Royal Coin, but I also want to speak about some of the unfair criticisms about Royal Coin, right? So what do I mean by alternatives? That's, that's as to say that there are other projects besides Royal Coin that similar thing but not exactly the same thing. And of course we're talking about verifications, right, identifications and such. Um, some of us have discovered workarounds, uh, that are, uh, have a lot of positive pros in one area and maybe some cons in others, right? Whereas I would put RoyalCoin is the best authentication process. Whereas in, uh, some of the other projects, they're maybe not as high tier, but then you don't have the headache of, you know, uh, doing the, the iris scans and such, right? So you got all those things to consider. Now, um, with that said, uh, BitcoinMYK is one I like a lot, and it uses social media profiles, decentralized, or I'm sorry, decentralized social media profiles to authenticate wallets, right? You know, as to say, hey, you know, community in these particular blockchains recognizes this person, and thus on our network they will be granted a wallet in which they'll receive free cryptocurrency, much like Worldcoin. Whereas RoyalCoin sticks mostly to the iris scans, right? And the others do other things, right? Now, in our governance model, which is our second layer, because it could be some people who fake wallet IDs or create wallets on our network, we have a governance body that anybody who's identified to be unique can be part of, and they have a, um, in order from earning the universal basic income. They still have their wallets and they can use them like most every other wallet, but they can't receive the, uh, universal basic income, uh, the free tokens, right, like the, the other, uh, projects do. All right, so hopefully that all makes sense so far. But I'm going to mix between this alternative Bitcoin, MYK, and there are many others. There's like Proof of Humanity or Circles, uh, and there's Mana. There, there have been ones out there that hasn't been that successful as of yet. Excuse me, because that takes a lot of money. Give me one second. Let me turn off notification, guys. I do apologize. All right, back. I know that scares the ham sandwich out of some people. It keeps you on your toes. I'm saying there, there are other that get this right. Now, what is my hope about all of this? My hope is we're going to have many Worldcoins and we're going to end up with the best distribution model in cryptocurrency. And that's why I think it's important to use them all, or at least the good ones. And I think BitcoinNYK is a good one. I think between Worldcoin and BitcoinNYK, it's is getting people the most value. The other's not getting that much, getting the most opportunity. And that is my belief, right? How they're set up, not just, uh, their trade volumes, but the tokenomics of it, you know, what it's going to look like in the future. And so all those things are considered. But, uh, basically we would incorporate some of Royal Coins' wallet IDs as part of our governing body. That would give us the, uh, the highest level of security protocols, right, as well as, uh, give us some of the more lax things, uh, that are less privacy challenging. And, uh, we can't have all that here with Bitcoin and YK by using both of these systems, ideas like Vitalik put it, put them on. Let me get into some of the criticism, the unfair criticisms of Worldcoin, and many of these uh, uh, projects like this where they be based on basic income, universal basic income, citizens dividend, you know, what it is that's creating the best and the best distribution in cryptocurrency and further this network through that cause, uh, um, you know, that should be enough for us to just use projects like this. But let's talk about some of the unfair criticisms and some more reasons why I think we should be using these products. And so The first thing is, uh, the person who kind of came up with this at the head of the idea, Sam Altman, uh, billionaire, uh, create one of the most best technologies, most advanced technologies in the world, probably definitely one of the most more smarter people in the world, smarter than Elon Musk, to be honest with you. But here's the thing, uh, why would a person like that, you think, need to create a cryptocurrency project pump and dump coin with only $140 million, you know, when they're worth so much more. I guess the point I'm getting at is that wealthy people who believe in projects, in a lot of cases, they are more likely to hold the tokens, right? Even if they receive a lot. Now, also, their distribution rates, I think it's something like only 25% of the supply will belong to the biggest investors, all of them combined. When you put that in retrospect to other cryptocurrencies like Bitcoin, where 87% of the network is owned by 1% of the people, there's no comparison there, right? Uh, we're deluding ourselves, uh, trying to make it like cryptocurrencies are decentralized. And focusing on the, uh, ratio holdings of Worldcoin, I think it's ridiculous for people to even try to make that argument. The other unfair criticism is, of course, how the data is dispersed. Now, regardless as to what could happen in the future with the data, we're really not at liberty to say at this point, um, basically anything about Worldcoin holding your data, because as we understand, the mechanism is supposed to basically erase the data after the wallet ID is generated. So we really can only go upon that. We can't just jump the gun from that to, oh, they're going to give it to the government and this, that, and the other. No, we work within the knowledge we know and the protocols, right? And we can't just make up things after that unless we have proof about that, all right? So that's another one of the unfair criticisms of Worldcoin that I don't think makes any sense. Uh, the other, the, the other part is, uh, um, you know, uh, this cryptocurrency should be getting a great deal more applause than others and not, uh, a lot of the negative effects simply because it's helping the most people, right? These cryptocurrencies you guys are into and talking about, they, they aren't helping anybody really but special class rich people. And the rest is a pipe dream and oftentimes just flat out lies about the opportunity that people are getting from these projects. It's all ridiculous. So most of them are just hopium and the ones that are actually doing something, putting monies in people's pockets and can grow and help people, you know, in their communities and help with democracy and decentralization as the network grows, These are the ones we should be praising, but instead we're not doing that. I think that's unfortunate. Now I understand the criticisms, uh, uh, about Worldcoin, but we got to keep in mind a lot of these are made-up ideas, right? They, they haven't come anyway, uh, and the way the system's designed, so A lot of it is just guesses based on facts as far as we can tell at this point, right? And, and that's the problem. Um, so projects like Bitcoin MYK uses social media, which everybody's, um, basically, uh, uh, comfortable with and use on a daily day-to-day basis. It incorporates the the tokens into it. Uh, the fairest distribution system I've seen, um, up there right with RoyalCoin. Uh, you know, I think it's gonna be an idea, as I said, for, uh, if you're gonna use something like RoyalCoin, don't just use one entity like RoyalCoin. Although so far I don't see anything wrong with RoyalCoin, but what I'm saying is don't just use one thing because let's just say this dystopian night nightmare did come true and everybody was on Worldcoin and all our, uh, economic systems were kind of on Worldcoin, right? And Worldcoin performed, uh, a million times better than Bitcoin, right? Then we would have created no failsafe for ourselves. That's why it's important if you registered with Worldcoin and you're watching and you're a Worldcoin user, that you should have a Bitcoin MYK ID. You should have a Proof of Humanity ID. You should have, uh, other ones, right? Along with that, uh, because I think it just makes the space more secure, more safe. Uh, is there anything else I want to say? I don't think it is. I think I want to keep the video short and just promote BitcoinMYK. Uh, I'm not going to go into all the great things about BitcoinMYK to make the video too long, but there is a wealth of information about it if you subscribe to the channel. Uh, you make sure you hit the notification bell, you'll get all information about BitcoinNYK, how great it is, how great the tokenomics is, the similarities of Bitcoin, but what makes it better in my opinion on so many levels. And I'm willing to have that debate with anybody about why I think that is. But I think that's all I want to say in this video. Don't forget to join BitcoinNYK.com today. And as always, take care of yourselves and each other.
