Xen Crypto - Why Free Coins Are Successful!

Welcome back to the channel. I hope you all are having a great day. So today we want to talk about why has projects like Zen, BitcoinMYK, why are these projects so successful? Why have they been so successful? And you've seen things like the, the value of the cryptocurrencies going up or over 1,000% in less than 30, um, you know, 30 days and that sort of thing. You know, why, why has this been, uh, taking place here, right? And so we're going to discuss that a little bit today, why I think, uh, some of those reasons are. So, um, the first thing I think we have to factor, what I've seen, uh, in particular, we look at something like XEN, what we're seeing is it had that community virality behind it, and that had a little bit to do with the success of HEX. But a lot of the fundamental rudimentary things associated with HEX and or the Pulse community as such And I want you all to, especially those who've been, who's around the community in the early days, I want you all to take a step back and try to remember this. But remember, a lot of HEX was based on the distribution of a lot of free cryptocurrency, right? People were earning tons of HEX through a referral program, just talking about it. Um, there were, uh, you know, obviously the big payday that was going to give you tons and tons of the cryptocurrency. Um, and, uh, then it just goes full steam with the free minting of the cryptocurrencies, right? So the rise of the free cryptocurrencies, that type of opportunity that people can see in that to drive many new people in, in this participation that may have not participated prior or before, now motivated and excited to do so. That, I believe, contributed a great deal to the success of the Zen cryptocurrencies. Now we get some viewers who say, why you have to always throw Bitcoin and YK in this? Uh, you know, why, why are we talking about that? Well, number one, BitcoinMYK, a free cryptocurrency doing similar things, has itself went up over 1,000% in the last 30 days. Why? I believe based on those same ideas of it being a free cryptocurrency. And number two reason we talk about BitcoinMYK a lot is because Uh, it is not safe. It never makes sense for there to be just one anything, right? That would be equivalent to saying there should only be one Bitcoin. Of course, we didn't just have one Bitcoin. We had Litecoin, we had Dogecoin, we had many of these Bitcoin forks, uh, that existed, uh, alongside Bitcoin that were themselves, went on to become successful, right? So with the free cryptocurrencies, I think we should see this as a lot of opportunity. Now, even though free is good in that sense, in that way, what we also have to focus on and remember is that not all free cryptocurrencies are created equal. Now, right now, Zen prices are dipping down quite a bit, right? Remember, Zen had a great run-up. It has to come down some. Now, right now, BitcoinNYK prices have stabilized, so it's still holding its relative position, right? And hopefully it stays that way. But the thing about that is there's still a great amount of success in free coins when we were Uh, when they go on narrative oftentimes is if you get something for free, it's not going to have any value, right? So we're going to talk a little bit about how is it possible that these free coins can have value, um, and get into that a little bit, you know. But also, uh, what do we kind of see happening with XIN, you know, over the short term here? These are just my opinions about it, uh, based on the data I've been able to put together and some of the research. Uh, as always, do your own research. Don't take what I do as financial advice. Only invest what you can afford to lose, all that good stuff. And the best case scenario in a free— these free projects that are so successful is just participate, right? Uh, use up a little bit of your time. It's a lot easier to throw away 5 minutes than throw away $5,000 or $50,000 or whatever the price may be, right? Uh, so take 5 minutes to participate, whether you're minting Zen or you're participating for free on BitcoinMYK, so you can get some of this value, uh, and be part of— not be that person who's behind the scenes and, and, uh, behind the 8-ball, uh, or unable to catch up, uh, you know, when things, you you know, turn around. You don't, you don't want to be that guy that coulda, woulda, shoulda, right? You don't want to be that guy just like Zen, this 1,000% gain. You don't want to be that guy that was like, oh, I should have did something, I should have minted more, I should have minted more wallets. There's really no excuse at this point in time, uh, to get in this crypto game with money, without money, and, uh, basically benefit from it, right? So no reason at all, no reason at all for that, right? You're able to do that. Um, so let's talk a little bit about why these free projects are successful and why you should, I believe, be engaged in these projects. Uh, um, and, uh, um, you know, uh, why is it that they're going up so great in value but the other projects are. So let's discuss that a little bit. All right, so the first things I notice about the free cryptocurrencies, the ones that are doing successful, um, is that, uh, I would look at it in terms of access, right? The ease of access, right? And tokenomics. So obviously if something's free you've made it accessible to all. Um, but one complaint about Zen, uh, in this paradigm is that Zen has really crappy tokenomics, which I agree with. You guys have heard me many times often say about the supply of Zen being a sort of Achilles tendon, an Achilles heel. Um, and some people believe that as well. That's, thus you have all this burning and so on. Now, inflationary cryptocurrencies, there is a place for them in a certain scope and structure, but you got to really have certain dynamics working for that to work properly. The reason that I think these fruit coins are successful is based on something called Metcalfe's Law. And what Metcalfe's Law states is that the value of your platform is going to be, uh, relational to, uh, the, the points of connection, meaning whether it be the nodes, uh, not limited to user accounts. All right, so every time you make a point of connection, right? You grow your community members, people come in, uh, you have thus gained, uh, more value to the platform. Now, what's going to be the easiest way to do that? The easiest way to do that is going to be if the— it's like, what's the, the, the fastest way from point A to B? A straight line, right? Well, the fastest way to do it is by making it easily accessible free for people to come in. Let's compare it to a membership website versus a free website, right? You're gonna have a restriction and less people coming into a membership website that, uh, asks for a subscription as opposed to being people being able to enter for free, right? So as the network grows, the value grows, right? Um, Now, in, in some instances, as long as your network keeps growing, inflation is good, right? You need to create more and more currency so the members can have it. What is the problem with Zen? The, the problem is that in Zen, the supply has ballooned, but the amount of people that can come through is limited. And the reason that being is the technical