Xen Crypto - Jailed Pulsechain Community!

Welcome back to the channel. I hope you all are having a great evening. So today we're going to talk about the PulseChain community, uh, being jailed, right? Uh, finding themselves in legal hot water. And the reason being is because they could possibly many of the post-chain influencers, the members of the HEX community as such, they could potentially be talking about unregistered securities, which is illegal. Trying to get people to purchase these things, to participate in these things, is illegal, which is why I've been an advocate, uh, saying that you shouldn't buy them, right? That I've been saying that all along. Now, unfortunately, people haven't been listening to that. And in some cases, they've either ended up with subpoenas or they're ending up in jail now for days at end in some cases, because that's how it works with the SEC. They set precedences. For certain similar situations they've seen with unregistered securities. And, uh, you're not going to be able to explain your way out of that many times, right? You're just going to have to go to jail in some cases. And a lot of people don't want to go to jail, especially if the cryptocurrency itself isn't performing well. Uh, Now, if you are talking about something like Pulse, you know, these unregistered securities, potentially, you probably want to talk about them like I do in a warning setting, in that these things could be that. And we've been very careful with BitcoinNYK to make it a fork of Bitcoin, as some of the people who have been arrested, their stories and their accounts speak about the SEC not considering Bitcoin security, right? So clearly you're going to be a little bit more in the clear if you're following the Bitcoin Ledger, right? The problem, I think, overall, and I'm going to address the XAN community in a bit, but I think the problem overall is that whether these things are clearly defined unregistered securities, right, or these securities are not, looking at them and looking at the structure of what is determined to be a security, they seem to fit the bill. So what do I mean by that? Well, a lot of times unregistered securities deal with, uh, separating people's money from them, you generally have some type of offer to raise money. Now, is it necessary to do that? No. Uh, did the Pulse community have to do that? I don't see a reason they had to do that coming after this off of the success of HEX. Uh, it's no reason I think that it would have required raising a bunch of billions of dollars to start a blockchain when a lot of software technology can be replicated all very, very cheap. Um, very, very cheap, right? People can do it in a weekend. They can clone the software in a day. Uh, and it probably would have amounted to about the similar thing, lower fees as such, what you, you have with the Post community. Um, but of course, when you're holding billions of dollars from people, you're going to have some disgruntled people. Now, whether these things are securities or not, uh, you're going to have a lot of complaints, and that's going to open up the floodgates to many of these things. Um, but looking at that, looking at, okay, so you got the raise the money thing. You also then would have a lot of control of the network, meaning that the diversification, right, meaning that the decentralization, uh, in the distribution of the network, uh, it wouldn't model after Bitcoin because you would again not have many participants. And so it wouldn't even feel decentralized, right? So you have that as well. Um, you know, and, and that's a, that's a, that could be a, a huge problem, uh, in an atmosphere like this that where a lot of things aren't clearly defined. Now, do you want to risk jail time, uh, over that? Probably not. You want to risk the, the embarrassment to your families and such? Probably not. Probably not. And if you look at my channel, you don't see me chasing many of these, uh, uh, new hyped up, uh, projects, uh, that can make people rich, uh, disregarding, uh, uh, laws that are being broken, international, domestic, and otherwise. Um, simply because, uh, I know most of the time that's what these things are. They're unregistered securities, right? They're done in a way that is gonna lead in the exploitation of people. And that's a huge problem, right? Now, it's interesting that the products where people might not find themselves in a problems like that, where look at something like Worldcoin, look at something like Bitcoin NYK. If you look at products like that, that a lot of it has to do with You know, nobody's raising money. These products are already built and complete. People aren't— isn't required you buy it. You can easily mine it, you know, as such. And it's a very— it's a system that is more reminiscent to Bitcoin, even in comparison to Zen. Zen kind of fits within the parameters. Now, according to an allegedly Um, some of these people that were held, uh, by, you know, the legal authorities, uh, have stated things like Zen's name came up. People were asked about Zen and that Zen, uh, in itself, uh, wasn't something of interest yet. And I think this is just my personal opinion. Of course, you can't, you know, take anything like this as certain. The SEC at the end of the day can do whatever they want. You know, they can set legal precedences, and if you— if you fall within those guidelines or it's close enough, that might be all it takes, you know. But, uh, Royal Coin does seem to be, uh, at the very least in, uh, you know, liaison and, and speaking with the government authorities and such. And, uh, you know, in that way kind of crossing their their, their T's and dotting their I's, right? Um, and they're not selling, they're not having these security offers, offerings is how the SEC looks at it when you raise money as such. Uh, I would think people would feel safer to talk about things like that, you know, things maybe on a little bit more solid grounding, right? Um, now don't get me wrong, the only one they recognize right now is Bitcoin. Right? Uh, projects we're in association with, like Bitcoin MYK, it does inherit the Bitcoin ledger. Meaning if you have Bitcoin, you're going to have the Bitcoin MYK, uh, tokens as such, right? And again, even in that, I'm not saying that that, uh, could be determined not to be an unregistered security, but what I am saying is that at the very least, it follows the model of Bitcoin, which is not a real security. At the very least, the people have it who hold Bitcoin as such, etc., right? That's not the case with PulseChain and many of these other products, right? And I don't 100% know if that's going to be the case with XIN or not. But I will say this about XIN. I think XIN would be a lot more well received than what's happening in, in the Pulse community. And that, those are just my, my opinions, you know, about that. Okay, here looking at Twitter and with our project BitcoinMYK, as we had been talking about, we were saying that, uh, we're starting to see some similarities with BitcoinMYK. There's some, um, things that look similar in the layout and so on, a lot more cleaner as such. And if you're following Twitter, you probably heard Elon Musk talk about he wants to kind of create this type of Twitter-like interface that is kind of in the financial sector and so on. And it would be this grand thing. But, you know, obviously people are afraid of that because then it would kind of create this very centralized financial social system, right? And that's the great fear. And so you probably wouldn't want to have a dominant thing like Twitter just doing that. And I think that's part of the issue. Uh, let's take a look at BitcoinMYK in comparison to Twitter just for a moment. All right, so let's take a look at BitcoinMYK and see if it's starting to kind of resemble a little of that cleanliness that we're getting on Twitter as such. Um, the layout is such and so on. But Bitcoin MYK, I think, feels a lot more, uh, decentralized, a lot more community-driven, and so on. Bitcoin holders inherited, uh, the Bitcoin ledger is inherited, and those people had the cryptocurrency as such. And, uh, if, you know, there's no raising of money or anything like that in Bitcoin MYK. Products are already there. People use it. Um, doing social media-like activities and you're minting this cryptocurrency, right? You're not going out, you're not putting up billions of dollars. Uh, you're using it every day. It's more currency than speculative too. So, and that's the use of currencies, guys. Remember, currency has no more use than a dollar. Than it has at a million dollars, right? But if you're minting this thing, people are using it, you're— it has this utility to it, then that makes sense, right? Doesn't it? Now, I don't know what would possess the PulseChain community to risk their freedom, right? To put themselves in these legal concerns. And what I'm learning now, I think this is something that could have been learned a long time ago just by watching our videos, paying attention to us, and, and, uh, just, you know, being rational about the thing. But for some people, this is going to be a bit too much, right? It's not worth it. It's not worth it to them, right? It's not— going to jail is not worth it to them, right? Losing all their money and having all their money locked up is not worth it to them, right? Because, uh, you know, there are some people at the top who might, uh, you know, don't want to play fair or want an advantage you don't have, right? In any event, potentially violating securities laws, right? Whether you may agree with or not, when people feel they are harmed or they feel that they are— have been taken advantage of, there has to be regulatory bodies for these people to go to, at least in their minds, to try to get some help, right? And maybe you might feel like that one day as well. Uh, my opinion on it is somewhat neutral, but at the same time, uh, I could see flaws in certain systems, uh, where it could result in it not being a safe situation for users. I know a lot of people want to make money. I know some people are desperate to make money, even to maybe be to the point of their freedom, or whether it be to the point of, uh, just believing in somebody, anybody. Believing in a cult, joining a cult, whatever the case may be. But looking at the state of affairs, right, is it time to maybe take a look at something else with a little bit more solid grounding underneath your feet? That's all I'm saying, guys. Uh, how I feel about Zen, uh, as much as I can like Zen and just look at the present situation, You guys have heard my criticisms of XIN before, just like PulseChain. My criticisms have been XIN, the way it was created, should have never run on something like Ethereum or Bitcoin, right? It needed to run on its own chain or run on a very, very cheap chain so people aren't spending thousands, millions, billions of dollars just wasting their money in gas fees, right? I do not like that. To just burn Ethereum just to hold some XIN, to pay more for Ethereum just to hold XIN. I don't like that. But in saying that, if I had to choose between XIN or PulseChain, obviously it would be XIN every day of the week. Clearly, we need to be careful at this point and we need to, you know, be mindful of why these things are considered unregistered securities, you know, why it is seen that they are a danger to the, the average user, especially people who struggle to pay their bills month after month and such. You know, that could be devastating to those people. Remember that when a security is registered, many times these people have to have a certain net worth a certain amount of money to shield themselves against financial ruin in that regard. And I've heard the reverse side as well, and I've agreed with some of that as well, that it could also be looked at as this hinders the opportunities of, uh, you know, people who otherwise wouldn't get to certain levels. And that can be seen as true as well. But I will say that the way it has been happening is the people who have so-called taken advantage of these opportunities have in most cases ended up more harmed than helped. And that's part of the problem, right? A good project shouldn't have to ask you for money, right, to use it. At least in my opinion, BitcoinMYK doesn't ask for people for money. You can use it, uh, start getting the cryptocurrency, uh, you can use it feeless on the platform on BitcoinMYK.com. And you can do many of these things you do in cryptocurrency without the pain and hassle Now, the choice is you guys' choice to make. Some of you guys have already made it to the point you got to get lawyers and try to stay out of jail because you won't stop talking about these things that harm people. Uh, you got to make that choice, uh, if that's worth it for you to do that. For me, it wouldn't be worth it, which is why my videos are done in the fashion they're done in. But that's all I got to say in this particular video. Um, guys, as always, take care of yourselves and each other. Uh, come over to BitcoinNYK.com, but leave your pocketbooks at home. If you understand how Metcalfe's Law works, you would understand that you don't always need to be trying to pump money into a thing for it to have value, right? That a currency has value in its utility. It doesn't have to go up or down, right? It has value in its stability, right? That's why you want your American dollar to stay worth $1. You don't need it at $2, right? And so these are the things many of us fail to understand because we lack education in these areas. And in this channel, not only may it, uh, uh, help you and your financial futures, but it may also keep you out of jail. That's all I want to say in this video, guys. So next time, as always, take care of yourselves. And each other.