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Bitcoin MYK
@mykos
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2 min read

It would not be possible on a single side chain. We have our own blockchain and we use several blockchains spread out with the same supply. So for example if you sent a coin from hive or steem it would burn the token here and repopulate it on say ethereum.. or bitcoin cash.

We have our own chain on polkadot which you'd have the same situation. In order to facilitate a project of this scale and magnitude yes you'd need to be able to use several chains so you don't get congestion such as with ethereum. In idea everyone would just use bitcoin myk in their perspective communities. However of course the system allows for moving from chain to chain. Scaling and avoiding congestion would seemingly be possible simply because everyone would be on different blockchains with the same btcmyk value.

For us a btcmyk is equal to a btcmyk no matter what chain its own or what price it quotes. Even within our internal markets people can take btcmyk coins and purchase ad space on our network similar to bat tokens. So they have an independent universal market value as well as the value over the exchanges on other chains.

Yes we'll get you the white paper all users get the btcmyk coin free who hold btc. You could in retrospect just buy btc you don't have to buy btcmyk. If you kept buying btc then you could claim btcmyk free. The reasoning is the btc network is more useful than the speculative price of btc. So we're more interested in the network than the coin price. Also we believe btc users will realize the mass of btc is becoming harder to trade in. For example even now in order for btc to 2x it would need to be well over $40k. That's alot of money. Bitcoin MYK inheriting the btc ledger would mean to 2x we'd only need to go to just under a penny to about 2 cents. Not saying thats easy to do but in comparison to btc it may be. Also micro transactions.. speed and global remittance is far more likely on btcmyk and not bitcoin. We hope that sheds some light on the project.https://www.bitcoinmyk.com/white-paper/

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