BLKSAT token
FAQ's
(frequently asked questions)
1. What is BLKSAT, and how does it differ from Bitcoin?
Answer:
Short answer: Bitcoin is an asset and a store of value that does not serve well as a currency or a medium of exchange. BLKSAT has use cases and utility as a unit of exchange as well as being a store of value.
Bitcoin is a decentralized, distributed ledger, immutable, divisible, instantly transportable across borders, permissionless, cryptocurrency primarily used as a store of value. It is considered an asset, or a commodity.
BLKSAT is a new type of digital token created primarily for use in the Blackbeard World ecosystem. So it is more like a utility token that powers unique features within our platform, such as games, rewards, exclusive content, and tools for users to engage with our app and website. It may also become used in other company's games, and some people may choose to hold BLKSAT as a long-term investment because it is both backed by Bitcoin, and pegged directly to the value of Bitcoin at a ratio of 1 BLKSAT token = 0.000001 BTC. Or in other terms 1 BLKSAT = 100 Satoshi's. So as the value of Bitcoin rises, so too does the minimum value of the BLKSAT token.
2. What is the purpose of Blackbeard World, and how does BLKSAT fit in?
Answer: Our motto is 'Share the Wealth'.
Blackbeard World was created to help people achieve better health, wealth, and happiness through gamified learning, challenges, and community engagement. As you study artificial intelligence it becomes obvious very quickly that most corporations are using AI to put tens of millions of people out of work. This is profitable for the corporations, but no one seems to be concerned about all the people losing their income. When the question does come up, the only response is that the government will provide them with UBI, or universal basic income. Look around and see what kind of life people have who are dependent on the government. So Blackbeard World intends to use artificial intelligence to generate revenue which will be paid back to our subscribers through treasure hunts, referral fees, play to earn games, partnerships, and any other methods that we can create to help people replace the income they lost to AI.
3. Why should someone invest in BLKSAT instead of Bitcoin?
Answer:
We do not recommend that anyone invest in BLKSAT instead of Bitcoin. If you are looking for a store of value, put the money into Bitcoin. You can purchase BLKSAT tokens on the exchanges if you choose. However, if you do not have the cash to put into Bitcoin, there are multiple ways inside of Blackbeard World to earn BLKSAT tokens, which can then be converted to either Bitcoin or US dollars. So it’s not about replacing Bitcoin, or getting people to invest in BLKSAT tokens, it’s about creating a token that provides unique benefits and experiences tied to our platform, as well as methods of earning tokens.
4. How do you ensure the security of BLKSAT transactions and wallets?
Answer:
BLKSAT is built on a secure blockchain with cutting-edge encryption and smart contract technology. We follow industry best practices to ensure that all transactions and user wallets are safe from potential threats.
5. Is BLKSAT just another meme token, or does it have real utility?
Answer:
BLKSAT is much more than a meme token. It has real utility within the Blackbeard World ecosystem, such as purchasing merchandise, subscribers can earn tokens as referral fees, and payment of various rewards within the platform. It’s a functional token with a clear purpose, not just a novelty, or a pump and dump scheme. It is also pegged directly to Bitcoin at a fixed ratio, so that as the value of Bitcoin increases, so too does the minimum value of a BLKSAT token increase.
6. How does Blackbeard World incorporate Bitcoin into its ecosystem?
Answer:
Bitcoin plays a key role in our ecosystem. Users can easily convert Bitcoin into BLKSAT tokens, allowing them to access the platform’s unique features while still leveraging the value of Bitcoin. BLKSAT is built on Stacks Technology which is tied directly to the Bitcoin blockchain.
7. What makes Blackbeard World different from other blockchain projects?
Answer:
Blackbeard World stands out by combining history, storytelling, and modern technology into a platform that’s both educational and entertaining. It’s not just a blockchain project—it's an interactive app whereby you can chat with Blackbeard, Blackbeard can replace a Google search with straightforward answers, not just the results that a programmed algorithm decides that you should see. Blackbeard World provides a gamified experience designed to help users improve their lives through challenges, community engagement, and rewards powered by BLKSAT.
8. How do you plan to onboard new users who are unfamiliar with crypto?
Answer:
You do not have to use crypto to enjoy the interactive app or go to the website to read articles or watch video's. If you want to earn tokens as rewards, you will need a crypto wallet.
We are designing a straightforward onboarding process with tutorials, guides, and support for people who are new to cryptocurrency. Our goal is to make it easy for anyone to understand and start using BLKSAT without requiring prior blockchain knowledge.
9. What role does community play in Blackbeard World and BLKSAT?
Answer:
Community is at the core of Blackbeard World. Our platform thrives on shared challenges, treasure hunts, and engagement. BLKSAT holders are active participants in shaping the future of the ecosystem, creating a sense of ownership and collaboration among users.
10. What’s the long-term vision for BLKSAT and Blackbeard World?
Answer:
Our long-term vision is to build a global platform where people can improve their lives by learning about having better health, methods of creating income or greater wealth, while enjoying an engaging and rewarding experience. As Blackbeard World grows, BLKSAT will evolve with it, introducing new features, partnerships, and opportunities for users.
11. In a Patrick Bet-David interview, Michael Saylor said, quote:
"I would like to see digital currencies, digital tokens, digital NFT's, digital ABT's, that are commercialized in an ethically sound, economically sound, technologically sound fashion." unquote
(11.) Does BLKSAT fit this definition?
Answer:
In the context of Michael Saylor's statement,
"I would like to see digital currencies, digital tokens, digital NFTs, digital ABTs, that are commercialized in an ethically sound, economically sound, technologically sound fashion."
The term 'ABT' is not a widely recognized acronym in the digital asset space to my knowledge. It is possible that 'ABT' refers to 'Asset-Backed Tokens,' which are digital tokens representing ownership of real-world assets like real estate, commodities, or other tangible items. These tokens aim to combine the benefits of blockchain technology with the value stability of physical assets. However, without specific clarification from Mr. Saylor, the exact meaning of 'ABT' in this context remains uncertain.
We personally believe that BLKSAT tokens may fall into this category of 'ABT' or Asset Backed Tokens, since BLKSAT is a digital token backed by Bitcoin, which the SEC has recognized as a commodity, or asset.
BLKSAT is commercialized in that it has multiple use cases and utility which are detailed in other video's.
With the finite, non-mintable hard cap of 8 million tokens, we believe that it is ethically sound, and being pegged to the value of Bitcoin at a ratio of 1 BLKSAT = 0.000001 BTC, it is economically sound. (If you believe that Bitcoin itself is economically sound)
BLKSAT combines the benefits of the Bitcoin blockchain through Stacks Technology, with the value stability of Bitcoin, making it technologically sound. All transactions with BLKSAT through the Stacks technology are settled on the Bitcoin blockchain.
We hope that these questions and answers will give everyone a little better understanding of Blackbeard World's BLKSAT tokens.
Remember to download the free Blackbeard App from the Apple App Store or Google Play.
Also remember that we have an ongoing Treasure Hunt, giving away $10,000 in the monthly hunt and $2,000 every week in a weekly hunt.
By subscribing you can participate in the treasure hunts and you are also issued a personal QR code to participate in the referral system. For every person that you refer, who subscribes within 30 days, you will be paid a $5.00 referral fee.
The Blackbeard World motto is 'Share the Wealth'. So, come join us and get your share of Blackbeard's Treasure.
Some of the features discussed here may take some time to implement after the app and website are launched.