Xen Crypto Is A Trojan Horse!

Welcome back to the channel, guys. I hope you all are having a nice evening. So as you can tell by the title of the video, we've kind of done a complete 180 in some of the viewpoints we have about Zen Crypto. And I felt it's necessary that we do that, you know, in that we try to talk about projects we think that have great potential, that are, uh, going to add to the cryptocurrency space. Uh, and, and my hopes were that this was the Zen project, but after really sitting down and looking at, oh, the situation with Zen— and this has nothing to do with price, uh, on our channel it's become— price has become the last thing we look at. I know a lot of people in crypto, they're only worried about getting rich, they're only worried about, uh, um, you know, basically, uh, uh, prices going up and price increasing. I understand, I completely understand that. There's nothing wrong with that, right? But some, but some of us, uh, are, uh, what you might call purists, uh, really are, uh, like the, the concept of crypto, right? We, we, and, and we're into the fundamentals of crypto. Right? And that's what you get on the Education Entertainment Television Show. So we don't lead with price. We look for good projects that are changing the world for the better. And sometimes those projects correspond with price in a way that is very helpful, you know, to people in an economic sense, right? And it's nothing wrong with that. That's nothing wrong with that. In this particular case though, whereas proof of participation projects, free coin projects, things like that, uh, these projects we like that we think, uh, will usher in mass adoption and will create, uh, a more decentralized feel. Because when we talk about decentralization, people tend to think about protocols. They leave out wealth, they leave out exchanges. They leave out development teams. They leave out so much, which leaves the idea of decentralization wanting. So if you understand what I'm saying, then this will, you know, make sense to some of you all. And maybe some of you all won't care, but unfortunately, at this point in time, I'm looking at Zen as more of a Trojan horse than a help to the crypto space. And it's unfortunate I've come to that conclusion, seeing that my whole thing has been free coins, free projects, right? But let me get into why I'm starting to see XIN as more of a Trojan horse using that idea than the reality of that idea. And that even worse, more so worse than HEX and the PulseChain community could ever be with this. Whereas I kind of went in on Pulse and you know, the Hex community, right? Where they lead, you know, with their pocketbooks and it kind of pushes us more back to centralization. What you have is just people controlling the economics and the staking and the control of the wallets, you know, with wealth and money, right? Which again harms decentralization, right? Bitcoin, about 87% of Bitcoin is owned by only about 1% of the network, right? I don't call that progress. right? So the narrative is they, they want us to look at crypto like, oh, well, you know, that's just the fact of life. That's just how it goes. Uh, the people with the most money want to run cryptocurrency, but let's just take a backseat to that, right? If that's the reality that you've accepted, right? Then I can make that same argument with our standard economy. Right? I could say that centralized entities, banking, governments, right? That it is a fact of life that they're in control of those systems. And if I want to make that argument, it's even better that I make it with the standard economy. They do have insurance, right? They do have Federal Reserve protection to an extent, right? So, so the point I'm making is that in a sense, I'd be safer to make it with the standard economy if that's the argument we're going to make about that is reality. People with the most money should have more control of these networks, right? Of course, now we're talking about Zen and the bot situation, the Ethereum gas fee situation, which is suggesting that the cryptocurrency, although And, uh, technically it's free. We know that when you pay Ethereum gas fees, there's nothing feels free about that. And you keep— you're not creating a participatory economy in the proof of participation idea, right? So it's not the participation that what we tried to create in our proof of participation model, which is like what we get with Bitcoin MYK. And we have our own project. We didn't copy Zen. We've existed since 2018. And it's a very slow project, uh, because its goal is to help mankind. Its goal isn't to make you the individual rich. The goal is for you to prosper along with everybody else, right, over time. Um, and, uh, keeping with the tenets of cryptocurrency, to create not a dual economy, but a more, uh, stable, well-balanced, well-distributed economy. right? That's the goal, right? The goal isn't, you know, 5 people get rich or the founders get rich. Now let's go into why I'm calling XEN a Trojan horse, right? And why I don't support it any longer. And although I've, you know, done the wallet claims, I'm not really looking at this point to get anything out of XEN, right? Again, it has nothing to do with price. So what's happening is As we can see what happened, the Ethereum validators, you know, just made a lot of money off of the minting of Zen, right? Now some people believe that one day maybe something will come of Zen. A lot of people will claim it, but the problem is the, the people who should be able to claim Zen are the people who aren't able to claim Zen, right? So, and even if they did claim Zen right? They'll be so far out of sync value-wise, uh, with the value of Zen probably right now. It is possible maybe in a decade, uh, the price could go up and people could start to make money, but it is also possible that it could be a very insignificant amount of money. Um, and, uh, I mean, if you're gonna stake that long and hope for all these things to line up and happen You're probably better off staking HEX, right? I'm just saying, right? It's probably better to stake HEX. And I didn't think I'd ever say that, but the reality is, you know, it probably is. I don't think Zen is going to create enough significance the way they're doing it with the tremendous amount of inflation and bots, besides just making the Ethereum validators wealthy. In addition to that, it would seem the founder Jack Levine is kind of doubling down. right? And, and that his, his latest, their latest endeavor, right? And I'm assuming it's him. If it's, if it's not him, I apologize, but he was talking about it on an interview recently. I think it's the Crypto Kindness interview where he was talking about these, uh, creating these, validating these NFTs and, uh, you know, it, uh, requiring something like thousands of dollars to be able to mint these. To run the, um, the, um, the, uh, nodes for these NFTs, right? And the problem with that is, again, in this participatory economy, it's pushing out the people you really want to be able to participate in the economy, right? It's just like the bot situation. You're, you're back again, uh, faced with, um, The situation where you're going to have the exchanges, uh, holding the most of the cryptocurrency, you're going to have the validators, uh, uh, reaping the rewards more so on the backs of the new people trying to come in with an opportunity with cryptocurrency, right? Uh, it's just out of the scope, I believe, of the idea of a participatory system, right? It's, it's The, the, the other point is the idea of the fair launch, right? So the entire Zen premise was launching in a fair way where, you know, I couldn't come in and then I mined and minted all the coins and then you come in late and so you can never reach the levels I've reached, right? That happens in HEX, that's happened with the PulseChain, that, that, that happens all over cryptocurrency. But, but here's the thing, The entire idea, right, that the, the, the way, the reason that we create the free projects and these concepts and ideas is to not continue to endorse that, but to try to create something that is finally going to correct that, right? Zen hasn't done that. And in some ways Zen has accelerated that, uh, even worse because, uh, uh, it's driven up the Ethereum, the Ethereum gas fees to keep everybody out, right? Uh, so the idea of a fair lunch is, uh, is, uh, right, it's a dream, right? And the way that, uh, the Zen Project went after this, and they seem to be very intelligent people— Jack Levine seems to be very intelligent— so, uh, I have to believe he did this purposefully and knew this would happen, and he's as much admitted to that. The, the other part, so the fair lunch is, is, is a wrong, uh, marketing idea in the project, right? The, the other, the other part, um, I had another point besides the, the idea of the fair launch. It was something else I was trying to hit beyond that. Um, but the bottom line is, uh, oh, I know what the point was. My point was, right, if you're going to do a free project, right, and we know the conditions and circumstances of fee-to-fee structure and how it works, why would you launch it on Ethereum, right? If you launch it on Ethereum, now some people say, well, for it to have value, for it to be worth something, and, and I get that, but that doesn't solve any of our problems, right? I got a better idea. Why not launch them on, uh, lower fee chains, right? And as these lower fee chains start to go up in value, right? Uh, we balance it out, we correct that, we move on to then another blockchain, right, with, with a lower fee structure, right? By bridging a multi-chain, and that is what Zen has done, but I, I think Zen should have completely left Ethereum out, right? We should have caused Ethereum to chase— they should have caused Ethereum to chase them on their prospective blockchains, or better yet, just copy-paste it, your own blockchain, right? And, and, and did it from there, right? Like with the PulseChain, it's not hard to copy-paste a blockchain, right? I think that they would have done a great deal better, and people would have, would have been, uh, excited about running nodes, um, and because it's a staking coin, they wouldn't have been worried about the speed or anything like that. It had a little fee structure. Um, I think that would have made a lot more sense. Because Zen's not doing any of those things, you have to wonder about the end goal. Also, in, uh, Jack Levine's interview, he talked about minting Zen, not buying Zen, but buying Ethereum. Uh, why would, why would anybody want you to buy, create a cryptocurrency project where people have put their economic energy behind it and then go on to encourage you to buy another coin. Now I'm kind of glad he did that in a way because, uh, that way, you know, he might be looking at like people don't, you know, uh, put their money in Ther, Ther's probably gonna go up and they won't lose money. So I see where that's going, but if you create a project, you got to remember you also have a financial responsibility to that project. Remember, there are people who are on exchanges buying Zen, right? You know, whether you tell them to or not, you've put it there, they're going to buy it. Uh, and they're putting their economic value behind that. And you should be Zen's biggest supporter, biggest fan, right? I don't think you should be telling people to— maybe you shouldn't be telling people to buy Zen, but I don't think I'd be telling them to buy anything else because if you then tell them to buy something else, Then we're starting to think, well, you know, maybe there's a, uh, some type of end goal there, uh, some type of support for their— for that other project, right? It doesn't make a lot of sense to me. Uh, you know, Ethereum is problematic, it's problem-ridden, uh, it's a victim of its own success, uh, its fees is too high. Uh, its wallet system is unused, is not user-friendly. It doesn't, uh, you know, help to adopt crypto or bring in new people. It's a mess. It's a complete mess. Um, and, uh, um, that's been the story, the history of Ethereum. There's so many projects that are much better. Bitcoin NYK is one, right? Uh, it runs on much simpler chains. Bitcoin Cash is better on, uh, Hive. The Hive blockchain is better on Waves. There are so many better blockchains to, uh, that are security-wise, that are, uh, secure enough but in a user-friendly structure to, to— remember, the idea is to bring in new people, right? Isn't that what we want? New people equals new money, new value, uh, new improvement to the world as far as getting people using blockchain technology, right? What the way that we're doing this is not promoting any of that, and we're doing it purposefully just to make money. But you really make a lot of money when you help a lot of people, right? And, uh, you know, upholding these chains like Ethereum and so on the like, uh, yes, a few people are, are benefiting from that, right? But it's the same people who have always benefited from it. It's the rich people, it's the, the development, the people at the top of the development game. It's not the average Joe who I'm trying to help. It's not the, the people out there who haven't gotten into crypto yet who I'm trying to help and bring in, right? It's kind of that, right? And if project founders and creators, whether it be HEX or XIN, aren't creating projects like Bitcoin on YK, right, that is something as easy as a social media interface that earns you cryptocurrency and then trades the cryptocurrency on secure blockchains and networks, right? If they aren't doing that, if it's that difficult for them to create that and do that, uh, I'm starting to think that their motives aren't pure, that they aren't necessarily after those people to help them, that they're just after the people's money that has money in crypto already, and they're trying to find a way to, uh, uh, basically get control of that money, right? That they're not really interested in the people out there, right? And if they were, they would do what I said. They would launch on chains that are simple for people to use, that are secure, that are user-friendly, that are free or close to free. And yes, there are blockchains that are free, right, or coming out that'll be free. So all of that, oh well, we have to go this way and this is the way it is, is a cop-out and is disingenuous. I don't think it's true, uh, their intentions are good, uh, in promoting these, uh, chains that are good for new people and for people to use, right? Uh, you know, again, Bitcoin MYK is a long-term play, right? It is a project that takes all these things into consideration, uh, makes something favorable for the masses of people to use, and over time they understand the value in that. And that if something is useful to people, you can best believe Uh, in the end, it's always going to be the product they pick. Ethereum is not useful to people, right, in many of these chains. So that's why we— people aren't mass adopting it, and that's why people aren't getting the best out of it, and that's why they're always trying to find solutions and forks and other ways of doing things to Ethereum, right? That's why Richard Heart has went on tangents about it, you know. Uh, it's not for naught that he's done that. This is what it is. So if we're serious about this, we ought to stop playing and going back, circling the wagon again, uh, like what Jack Levine's doing, right? He's done that, he's doing that, and that's what makes me think he's now created a Trojan horse, right? That he's not really trying to create, uh, fair launch projects and fair projects and well-distributed projects, but just more of the same. Right, so, and this goes for you all too, not just Jack Levine, but you all who tune into my videos. I watch many of you all, you still don't, uh, sign up with the projects and you continue to be part of projects that pump up and dump and they fizzle out and they don't do anything. They don't bring in new people, they don't bring in millions of people like some projects were able to bring in 30, 40 million people. They bring in 2, 3 million people, and of that 2, 3 million people 1% of those people control that entire blockchain, right? You, you, at some point you have to accept that that's not the purpose of cryptocurrency. I don't think that's what Satoshi envisioned. I don't think that's what any serious person about cryptocurrency envisioned. Now there are some people who I call them, uh, right, they are false crypto people, right? They are these people that kind of just use crypto to create fiat currency and they get everybody's money in cryptocurrency. And what do they do? They take it out of cryptocurrency and back into the real world and they go buy, uh, handbags and they go exotic cars and homes. But here's the thing, you never hear about them doing crypto transactions with crypto businesses, do you? Right? You hear about them going to Gucci stores and Prada stores, right? But how many times do you hear they're doing, transacting business in a closed-loop crypto economy, buying their houses with Bitcoin, buying their cars. You hear those stories sometimes, but most of it you hear the people just going on, uh, these, uh, spending, these spending sprees and taking the money out of crypto, right? Uh, and again, I think that's out of the, uh, that's anti-crypto. I think that's out of realm of crypto. It should be Crypto more of a closed-loop system, and I understand that there are many products you can't get unless you take it out of crypto. But if you've made your fortune on cryptocurrency, you should ever be trying to create ways with your fortunes to create a system where you can buy, buy objects with crypto, right? You know, and I'm not trying to tell people what to do with their money. All I'm saying is if you endorse the idea of decentralization of cryptocurrency and you act as if you are pro-crypto, that you should be doing that. If you're not pro-crypto, uh, if you don't believe in all those things you preach like middlemen and so on and so forth, then, um, you know, do what you want with your money. But if you're preaching that you're this and that and cryptocurrency, uh, you know, you should be able to do this or that, then yes, I believe you should be doing that, right? Uh, but those are just my thoughts. Uh, that's why it's been a change of heart with me and the XEM project, the HEX project, the Pulse project. Uh, I'm at the point now where if you want to do something right, you have to do it yourself. And that's what BitcoinMYK is. As you can see here, people are earning cryptocurrency for updating their profiles, for making comments, for adding, uh, act, um, adding an activity to favorites, for a new comment, for, uh, site visits, for logging in, right? For viewing posts, all that stuff, right? Participating in a crypto ecosystem and minting their cryptocurrencies, right? The system does that. That's what we're talking about. That's what the BitcoinMYK platform does. right? And if you're a pro crypto person, you'll be doing that. You won't be doing this overcomplicated, useless stuff that the general population isn't going to do, that they aren't doing, right? That we're circling the same amount of money and funds right back to one another. And some of us are getting a little bit more of it than the others. And it's typically the same people, uh, which means that the economy is not well distributed. And it's not. Cryptocurrency is the worst economy— is one of the worst economies distribution-wise in the history of man. Now, they oftentimes say it is, when it comes to, uh, price gains, right, and performance, uh, it's outperformed every other asset on the planet, and they're correct about that. But what they aren't telling you is that, uh, it's also distribution-wise the worst asset class in the history of man when it comes to distribution and people holding it, right? And, uh, so that is, uh, unfortunate, and it is not telling the whole story about cryptocurrency. We can change that with proof of participation models, not the Zen proof of participation. That's a fake proof of participation. The real proof participation is something like this, where everybody, your grandmother, can get involved and get in. And earn cryptocurrency. And that's what we should be doing, right? That's the type of projects I want to run where your grandmother can be using this today, earn the crypto, could be using in 30 seconds. Not gonna do that with Ethereum. You're not gonna do that with developer-based projects only because developers are like, uh, like our political system, right? They're like our Congress, you know. Who vote on their own salary and vote for their free health insurance for themselves. They're not going to vote against their own best interest for other people. And that's the same thing with development people in cryptocurrency who know more than everybody else. They're not going to work against their own best interest to create a better world for the rest of us. So Bitcoin MYK is the balance of those things that will. Right? So we invite you to study about it as much as you can. Subscribe to the channel, go through all the videos if you can, and you will see that the answers lie in Bitcoin MRK. But it's not a quick answer. It's not a magic answer. It's not an answer that will be, uh, a problem that will be solved overnight. It's a problem that could take years, maybe a decade, right? But it is the right solution to the problem. And you know you won't waste another 10 years in a cryptocurrency project, right? Um, in that sense. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe. Until next time, as always, take care of yourselves and each other.