In this video the presenter examines the emerging burn‑token projects within the XEN ecosystem, questioning whether all such tokens are equally valuable and outlining criteria for judging them. He contrasts meme‑oriented tokens like ZenDoge—highlighted for its charitable dog‑rescue angle and endorsement by Jack Levin—with more utility‑driven projects such as BitcoinMYK, which rewards holders with a native token and integrates into a broader social‑network cryptocurrency that distributes a monthly citizen’s dividend (a form of universal basic income). The speaker explains how the platform rewards users for ordinary social‑media actions (posting, befriending, profile visits) and how these rewards are tracked in a wallet interface. He argues that this model avoids many regulatory pitfalls of traditional token offerings by being community‑earned rather than sold, and he discusses the tension between decentralization and centralization, admin keys, and the “fair launch” narrative, referencing HEX, Pulse, and historical advocates of citizen dividends (Thomas Paine, Milton Friedman, Martin Luther King, Elon Musk, Andrew Yang). Throughout, he emphasizes the social impact potential—reducing poverty, crime, and mental illness—while also critiquing burn tokens that provide no intrinsic utility beyond being burned.
Chapters
Welcome back to the channel. I hope you all are having a great day as we go into the weekend. So today's going to be a very interesting video, and I think a very important video, and we're going to talk about, uh, these burn tokens that are occurring, uh, in the XIN ecosystem, right? I think at first glance we would just say that they're all a good thing as they're burned against the supply of XIN, which is good. There's, in that sense, there can never be a, a really bad one if you look at it just from that point of view. Um, but are there any that's maybe better than others, right? Maybe make a little bit more sense than others. And we're going to talk about that today, and we're going to talk about, uh, some of the things that we might look at, uh, as good or bad depending on again, what aspect of it you're looking for from, right? Um, we're going to talk about the importance of a use case. I think what's happened in cryptocurrency is we really, uh, have come into this situation where we— many don't think it's important, right? Uh, and we're going to talk about maybe why people might want to take a second look at that and going forward into the future. Sustainability of cryptocurrency and your personal portfolio and wealth building. So let's talk about that today in this episode. So first, let's talk about what we get with the burn tokens and, uh, maybe a little more thought-out view of what, what's happening with them. So we have burn tokens that are part of the XEN ecosystem. Some people have been excited about Whether it be something like Phoenix, where it was kind of like this model like HEX, and one that's people getting a little bit excited about now called ZenDoge, right? At first I thought this was relative to like Dogecoin, but it's basically just a meme coin, like 90%, I guess, of the burn tokens, right? So let's, let's analyze it a bit. The Apparently, I believe the Zen Doge community reached out to Jack Levin and got his seal of approval. And, uh, Jack Levin, I think, wisely stated something that I think was a good move, and that was, well, we don't just want to accept any meme coin or, you know, support it that's just burning Zen for the sake of burning Zen, and you just get these tokens that there's really, you know, no use for them. If there was value being donated to help dogs, to help puppies. Everybody loves dogs, everybody loves puppies, or most people do, uh, in this kind of charitable, uh, arrangement, right? And that's making a lot of sense to people. It makes sense to me. There is a purpose other than just a token to burn, to stake to no end, right? For the express purposes of just trying to get rid of some Zen, but the value transfer you get for burning your Zen isn't really much value to you because it doesn't really— you don't really do anything with these tokens. And that's like 90% of them. ZenDoge takes a different route, and I like that route ZenDoge took, right? But here's the only thing I would say to that. Whereas I like that people get excited about these various projects, And I'm all for helping puppies and dogs. I rescue animals myself. The thing is that burn token projects that have come into the XEN ecosystem like BitcoinMYK, you got to remember, right, as we have incorporated rewards for burning, right, where you can get the BitcoinMYK when you burn these various ZenBurn coins, right? And instead of, uh, you know, any of the Zen going to us or going directly through some kind of protocol with us, we reach out and we help all the community members by accepting, um, uh, many of these burn tokens throughout the ecosystem. If you show proof you hold these, uh, tokens, right, you just enter the wallet address and such through the system, uh, we, we, we reward you these, this token, right? So it's a way to include, you know, very— instead of just this burn token over here, this burn token over here, my value is just isolated there. We kind of, uh, envelop, you know, several of them, right? Or the ones at least we think makes sense. And I can tell you ZenDoge will be one. But here's the problem, whereas I love dogs and puppies, uh, where's the help to human beings? So, so Jack Levin embraces this this concept about dogs, but hey, BitcoinNYK has been over here grinding out for a long time. Now we didn't reach out to Jack Levin. I think that this is just such an important concept and idea. Greatest minds in history have championed this idea of the citizen's dividend 300 years ago in our modern economic history, started by philosophers like Thomas Paine, And, uh, uh, great notable people— Dr. Martin Luther King, uh, the Nobel Prize-winning economist Milton Friedman, uh, Elon Musk in, in today's, uh, terms is championing a lot of presidential candidates like Andrew Yang, uh, universal basic income, the citizen's dividend, right? This, this is what they've been pushing for. So this is what our cause is under our cryptocurrency, and you're rewarded this universal basic income. And unlike you know, many of these burn tokens that don't do anything but just staking, or you just hold them just to hold them. This has a social network attached to it where people are actually moving value streams through communication, through making friends, through promotions, and so on and so forth. Now, right now, carefully we designed this not to be a security. We know that the People who are putting businesses on the blockchain, I said from day one, we don't need businesses on the blockchain. These are thinly disguised unregistered securities. You're going to have SEC problems and so on. This is all a distribution model and a social network interface owned by the people, right? Fairly distributes the cryptocurrency out to everybody who participates in the system and they get the monthly citizen's dividend, right? Uh, this also addresses a very serious future problem of automation right now. Thinking in terms like that, right? Would you rather be in some type of safe cryptocurrency like this with a safe ecosystem? Uh, even if we go over to the Pulse economy, the Pulse community and HEX, uh, there is this dark cloud of fear about, are they a security? They're holding all this money from investors and so on. They could potentially have problems with the SEC down the road, right? But these projects are all community-driven, community-earned. The community earns all these cryptocurrencies. They get them for free. You don't have to buy them. The network value itself under Metcalfe's Law builds value, and people can utilize the system right now. Everybody won't see it that way. Some people join, some people don't join. Some people don't join because they don't understand. Some people don't join because they think this somehow all hurt Zen, which makes no sense. But whatever the reason— or some people just don't join because they're lazy. Whatever the reason is, uh, and whatever conclusion you come to at the end of the day, I think everybody has to agree that what does it value me to burn my Zen and I'm getting a token that really probably has no value, right? I can't do anything with it. It has no intrinsic value. right? Uh, whereas with our project, your token also actually allows you to, uh, basically have promotional value in it, like the BAT token. It allows you to do so much various things, right? Uh, we just got this, uh, new user in, uh, by the name of Mary, who's, uh, interested. She says, I'm new here, would like to know how this platform works. That's of course the Big question, meaning just trying to understand this project, right? So here's our answer. We go, welcome, this platform is designed for you to earn our cryptocurrency based on normal social media activity. You select the menu option, go to your wallet, it shows how much you can earn based on your activities. Imagine earning on every social media post, every time you make a friend or visit a profile page, right? and you get the Citizen's Dividend every month, right? Again, this is gonna solve the problem of ChatGPT. This is gonna solve, uh, issues and help to overcome poverty. It's going to cut down on, uh, crime, mental illness, all of the woes that we have in our society. Imagine a cryptocurrency that can help to solve those problems and at the same time burn Zen, right? Because you're if you show that you've, you know, put vouchers in, you're going to be able to get that. Uh, you definitely want to be involved in something like that, I think, right? Uh, that in my mind will make BitcoinMYK the most, uh, the best of the burn tokens, the ones that, uh, and at the same time, without it, as far as all our research can determine, doesn't cross the unregistered securities line like many other projects do, uh, don't just, uh, become this burn protocol. The other thing is, if I had to think of one bad thing with the BitcoinMYK project, that would be much like how Bitcoin started. We do go through this form of centralization to decentralization. But in this journey, Bitcoin and WhiteCabily will become the most decentralized cryptocurrency of them all, even way more decentralized than Bitcoin. And that is because social media cohesion, social networks, right, that the community controls and on the algorithm distributes. So when you go to your wallet, as we'll show you here shortly. Okay, so when I click on wallet here, it shows everything, everybody's I'm earning just like the rest of you guys based on my, my, um, social media activities. You can see I earned some tokens updating my profile, visiting the site, uh, just logging in, you get— you, you earn the cryptocurrency. And then you have many other people who are involved, uh, and are earning. Everybody can earn. That makes it fair. Now I want to make a correction, and this goes out to Jack Levin and a lot of Zen community. I want to correct you guys on something and just let you see this for yourself. But, uh, the first principles of cryptocurrency I agree with. I don't, I don't believe they start off like that. Even if you're the best, even if you're Bitcoin, you don't start off with first principle. Satoshi starts out in a form of decentralization, ever going, goes to decentralization. Remember, he's the only person knows about this, right? Or his group in the beginning, right? So it can't really technically be a fair launch, but here's the point I'm making about this. Um, one narrative that keeps coming out is that every protocol has admin keys, uh, you know, can't be held by this person or that person and so on. And I would agree with most cryptocurrency projects is that way, but with universal basic income projects and citizens dividend projects such as this, I would say that that is, is not in the same category, right? It doesn't work the same. For instance, let's look at a project where there are no admin keys, right? Like Hex, right? Does that stop most of the Hex being controlled by one person? Does that stop the Pulse blockchain from being controlled by one person? No, it doesn't. So it's almost ridiculous to try to say something like no admin keys, right? In that particular sense, don't misunderstand what I'm saying. I'm simply saying that projects, the best projects that have historically moved from a point of centralization to decentralization, do better in some cases and probably will do better in some cases depending, right, um, on, on the layout and what they're doing. It's something like the Citizens' Dividend I believe that it works better this way. And, uh, I believe that that narrative doesn't work in that case, right? Uh, in a social media platform where everybody's fairly earning, you know, you can think of this as our form of
