Xen Crypto/Pulse - SEC Removing All Trash Projects

Welcome back to the channel. I hope you all are having a great day. So in this video, we're going to talk about how the SEC is getting rid of these centralized trashy cryptocurrencies. It seems to, you know, I think lawsuits that are going against Binance, also going to be going against Coinbase, uh, specifically due to, uh, some of these are, uh, tokens that listed on their exchanges that the SEC is determined to be securities. Many of you all will know your, um, uh, Polygons, your Cardanos, your Centralands, you know, many, many of these, these projects that are basically getting them to the point of registered securities. Now, Well, have, um, you know, the, the people be able to, uh, trade in these coins if they want. We don't need the SEC coming in and so on and so forth. But the part of the issue is that who say that they want no SEC are the same people who complain about these projects. So make their minds of, you know, where they want to be in this space. Now, to be kind of fair with it and kind of, uh, you know, just overall make the statement, there's really only one cryptocurrency that specifically was never determined to be, uh, decentralized. All right, so the only cryptocurrency project really that is decentralized is Bitcoin, right? So I'm trying to get my bearings here, just got in, but it's really only Bitcoin. Now Ethereum gets in the frame simply because Ethereum reaches a certain amount of node connectivity, right? And so, uh, it becomes so vast, in a sense, it decentralizes the network, right? But here's the thing. What happened with Ethereum— Ethereum barely making the cut. What happened with Ethereum is light years ahead of what's happening with these other cryptocurrency projects, right? These things are Basically unregistered securities. They don't satisfy in the least any conditions of decentralization. And so they are for the most part unregistered securities. Most of these tokens are. Now I know a lot of people don't like to hear that. They want to keep, uh, unfortunately the people who do know better, they want to keep taking advantage of the people who don't. But that's why I'm so glad that the SEC is going to put a stop to these projects that don't make the cut, right? Now, you guys hear me talk a lot about BitcoinMYK. What some of y'all probably don't understand is that BitcoinMYK inherits the Bitcoin ledger. But not only that, BitcoinMYK is a free cryptocurrency. Its distribution rate will meet that of what you see with your Ethereums and such. What you see with Bitcoin is such, right? Because it's a free cryptocurrency, right? And everybody's going to basically have access to it through Citizens Dividend. So this is something totally different than trying to sell the public and exploit the public on unregistered security with ownership of it belonging to who knows who, and these people manipulating the public and controlling the supply upwards to 90% in some cases, right? In any event, these people, uh, have created a project where they're gonna always be on top, right? And those, uh, and it's no way that it's gonna be fair for the other participants. In fact, it's more likely that the other participants are going to be exploited. So when we created BitcoinMYK, we were very careful were very careful to make sure these things didn't happen to Bitcoin, right? So this is how Ethereum managed to get in the fold, right? Now my personal beliefs is Ethereum should have been fined and Ethereum should have had to— from basically doing an ICO, right? Right? They did an ICO in the very beginning. They should have been fined like many, like many of the other projects, and made to pay a fine, and then, you know, abide by the rules, right? And I say that because it is— I feel it's been unfair to the other projects who did have to pay fines and were, because I don't think Ethereum was any different. It was allowed to grow to a more of a point of decentralization, right? But it still doesn't take away that they were unregistered security, right? So, uh, and again, and I don't think many of these projects that have been targeted, whether it be Cardano or Decentraland, I actually think some of them are pretty good projects and pretty good, you know, all right, blockchains. But the, you know, the problem with them not satisfying that is it allows other projects to then cross the line and they're going to exploit a lot of people, right? They're going to exploit people and it's not going to be good. And so this might be one of those necessary things that get the space back into where it needs to be. right? Um, now looking at BitcoinMYK, right? Why is it that BitcoinMYK seems to get a pass, um, with me in this? Well, let's look at some of these accounts on BitcoinMYK. Does something look familiar? The people who are participating in the BitcoinMYK network, the proof of participation algorithm, right? As you can see there, balances look very close to the same thing, right? That's how the Proof of Participation algorithm works, right? Now it's not some type of socialist model where, you know, where people are just, people are still dealing in capitalism, right? But there is a distribution model, a bare-bones model that its idea is to prevent these dualistic economies, right? And, uh, that's allowed through the— our, our 10% annual inflation rate that, uh, is basically is what's allowing the wallets to come closer in parity, right? Um, and so it's a very interesting, very ambitious project, uh, that satisfies decentralization, that I think that even if the SEC were for whatever reason, I don't think it will have any reason to target us because there's so many of you guys' projects out there that are clearly exploiting people and it's just millions of them to go through before they get to us, I think. But even if they did, I think that even if we were unaware of some violation of securities laws, I still think we will reach situation like Ethereum quickly, whereas I don't think other projects can. Now, you guys in the Zen community, you know, you— I have a soft spot with you guys because even though Zen is not perfect and it doesn't even— it has some big issues, I think it is moving in the right direction at least. And not many cryptocurrencies can— in fact, none of them can say that. The only ones is Bitcoin According to the SEC, Ethereum, and according to me, Bitcoin and YK. And then Zen gets a pass. But everything else, like, you know, even you PulseChain community people, right? To even think that PulseChain is, uh, would satisfy not being an unregistered security with all of the antics the Pulse and HEX community has pulled, I think you guys are just, uh, being disingenuous. Now some of the community has raised the idea that, oh, you know, well, Pulse and Hex is decentralized, they're just going after the, uh, the content influencers who promote it. Well, you know what, there's a reason that these people were incentivized to promote it to some degree, and, uh, that's why it crosses that line as well. And so in that sense, yeah, you know, I will just say this, right? I'm not the SEC. It's not my job to determine who's a security or not. I can look at the information and pretty much come to a pretty good conclusion. But I will say this, that I don't, I don't believe the SEC sees it like how the Hex community is trying to push it. And I would just say be very careful, be very careful out there. How you look at the future of Pulse and HEX, very cautious, right? Because even if you're right to a degree on it, uh, there's something that's triggered the SEC and that's going to put great concern on your investments, right? Uh, this marks the time, you know, because here's what the bottom line, guys, is many of you who watch the channel, I looked at my, um, my analytics, right? People who watch our content, right? And part of the issue is I look at my analytics, 35 years old and up are the people who watch my content, right? It's like 100% they're watching my content. Now that means the demographics of viewers on YouTube that are probably going to be the most people probably like from 18 to 25 or 18 to 30 or whatever, uh, they're not watching our videos. And that's a problem because This is where a lot of the value money is going in, uh, into these, these, uh, trash projects, right? Uh, people were like 18 years old. A lot of these kids have, um, ADHD, right? And they need people constantly moving around and jerking around and can't sit still and doing crazy stuff and antics. And, and that interests them. And I get that, I get it, right? I've been 18 as well. Uh, but this is the reason that the SEC has to deal with these trash coins. I know a lot of people don't like regulation. I know Elon Musk doesn't like it. And, uh, I, I wish there was a way we, we could manage this on our own, but the cryptocurrency community is the first group of people to scream and hoop and holler when these projects These people exploit— these, um, projects exploit people, right? They are. That's just the facts, right? They are the first people to do it instead of just choose good projects, right? Because they want to be gamblers, they want to be greedy, they want the money, and they're trying to take the easy route, right? They don't want to work hard. They don't want to, uh, see projects build good value over time like BitcoinNYK. That's going to be around long after many of you guys' projects are gone. Because when the SEC hits the Cardanos, as it were, and sues the Coinbases and Binance and such, they're getting rid of those, your favorite cryptocurrencies. And guess what's going to happen to the price and value of them? They're going to dip. They're going to tank. I haven't seen one project yet that's been able to stand the onslaught of the SEC. Not one. Not even one. And if Ethereum would have been on odds with the SEC, they would have suffered the same fate. Luckily for them, it just so happened by the time the SEC got together with them to go after them, and they were kind of still early in crypto as well, that they had surpassed such a great number of users. You know, they were performing like very well, like Bitcoin was, right? But these other projects don't do that. You guys' projects don't do that. I believe BitcoinNYK will do that because everybody's going to have the cryptocurrency, everybody's going to have an interest in using it. You're going to have it because you can get it for free. The next guy is going to have it. And through BetCasino, we've already proven that it is incorrect to believe cryptocurrencies have zero value when they get into a lot of people's hands. In fact, the BitcoinNYK inflation token. Every day I see new buyers popping up on the exchanges, right, for free cryptocurrency. Every day new people are coming in, new buyers and such, right? And that's probably going to keep happening. But, uh, that's all I want to say in this video, uh, guys. This is the reality now, uh, it really, you know, whether you accept what I'm saying or not whether you want to still seek hype projects or not. It's not going to stop the SEC from shutting your projects down. It's not going to stop us from being able to be more decentralized than the other projects, be more fair distribution, have the more better use case in your projects. It's not going to stop any of that. That's just the facts of the case. And, uh, so I could see us continually going forward while these other projects start to fall. And it's unfortunate, but it's what happens when you take shortcuts, right? When you take the easy way out like these projects have done. That's what happens when you have 1% of the network controlling 90% of it, right? It doesn't satisfy anything in the areas of decentralization. There's not one economy that's fared well with those rates of centralization against decentralization. Not one that's done well. You can't— there's no economy in the world that works that way, right? And when they attempt to do it, they have populations where people are struggling in poverty and it results in revolution, right? So that's all I want to say in this video, guys. Don't fight the uphill battle. Join Bitcoin and YK today. You might as well now. It's better to join it now than wait later down the road and still join it then. Either way, this is the reality we're looking at. But I love to hear you guys' thoughts about how you feel about the SEC coming in, destroying these trash coins. That's all I want to say in this video. Until next time, as always, take care of yourselves and each other.