I’m Mykos Inglewood, Ceo Bitcoinmyk.com. I want to say i’m very proud to see the rise of ubi projects in the cryptospace. In late 2018 we launched an interesting idea that would take all bitcoin holders and give them a cryptocurrency called Btcmyk, or the Bitcoin MYK token. UBI for bitcoin.
This was an interesting idea that would fork bitcoin. Later we found that this project also needed to be accessible globally to all citizens of the world. As we feel ubi should be a human right. Concerned about the value of a token that would essentially be given away free.
We devised a plan to create deflationary tokenomics making bitcoin myk more deflationary than bitcoin. The process would speed up ideas like the bitcoin halving by making token trades corelational to token burns. When the project reached 21 million coins the burn rate would slow to eventually end up from 21 million tokens to 5 million tokens.
This we felt would give the token the value of scarcity but as well as the network grew the value would be held in the cryptocurrency. A social network platform would give the project " attention value". As the network grows the value would translate into token value for the community.
The bitcoin fork and why it’s important. Creating a fork of bitcoin would mean every bitcoin community member would have vested interest in bitcoin myk. This was important because in ubi projects it is likely that in the experimentation of free or what we call freemium services that communities would not value the token. In some cases they’d value the token at zero. However the strength of the bitcoin community members could be seen as added value.
The partnership offer. Bitcoin MYK is a very scarce cryptocurrency unlike many ubi projects that are more inflationary. The project would offer the Proof of Humanity platform a distribution of tokens to account for every member it has. In addition to that the Proof of Humanity whether, via treasury or foundation would receive a matching token supply to every member that receives tokens.
Why would this be a good idea for the Proof of Humanity project? After carefully examining the Proof of Humanity project. It is our desire to see ubi projects all through the crypto space obtain success and add value to the globe. We feel this will be a great idea for Proof of Humanity because although it has reached great achievements in personal identification over the blockchain.
It still remains a complex process that can cause many in crypto and in the mainstream to opt out. We recommend all verified accounts be submitted to receive bitcoin myk coins. This means that proof of humanity members would be able to conduct essentially free transactions of the bitcoin myk tokens which as well trade on multiple exchanges.
The btcmyk token although a bitcoin sidechain is also a multichain token. So it can be moved on several exchanges through our gateway. Free transactions, ease of use interface, bitcoin fork with potentially value of the bitcoin network. We believe will equal a good partnership for the proof of humanity project.
We’d appreciate you all as partners or let us know anyway we can help. We’d also like to note that projects like Electroneum use an algo called (POR), Proof of Responsibility. We use a similar algo which allows Ngo’s and charities to distribute coins for platforms. So the Proof of Humanity project on all tokens distributed would receive the same amount to the platform foundation or organization of developers to do what whatever they term appropriate. They could sell btcmyk and purchase back ubi coin. They could do whatever they felt was best with our potentially very valuable platform in the future. We’d love to hear from you all.
Mykos Inglewood, Ceo Bitcoin MYK