However frauds and small frauds. And there's one thing that a fraud always does: it always goes to absolutely no - teeka tiwari net worth. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The huge hack. Which woke something up for me.
And so I can't ignore that. I have actually got to go dig much deeper. teeka tiwari reviews." And so I started traveling all around the world. I started going to Bitcoin events; I started to talking with people that were smarter than me in this area. And what I realized is that Blockchain technology and the application of Blockchain innovation by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how enormous that is! The implications of that, of being able to have data that we don't need to have it independently verified, it's cryptographically verified. That concept can ripple out throughout the whole higher economy. And when that penny dropped, I knew I needed to devote all my expert resources into ending up being a professional in this space.
And do you believe, I indicate you mentioned something there about not having to get a third-party, or intermediary to validate something. Do you feel that part of the factor that this isn't getting as much mass adoption is that a great deal of folks may not even fully understand validation procedure [inaudible 00:04:11].
We were just talking about how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and then all of a sudden there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the average folks don't maybe learn about these procedures, so they don't maybe see what you're stating as this development, they don't see it in their daily life? Or what do you believe about that? I think that's real.
It's not as simple as shooting up a web browser and going to e-trade. com and pressing a buy button and purchasing it, right? You've got to go to an exchange, you have actually got to upload your identity documents, then you've got to wait to get verified, and after that finally, you can go buy some Bitcoin.
So, a lot of people discover that too bothersome, which's why the individuals that are literally making the most amount of cash right now in cryptocurrencies are the early adopters: people that are prepared to put in maybe the 20 minutes required to go through a procedure which simply takes five minutes if you desire to establish a brokerage account - teeka tiwari picks.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so hard." What I tell them is I say, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The whole cryptocurrency market will be 10x bigger. So you're in fact truly earning money a huge amount of money to go through perhaps, you understand, 20 minutes of a headache (undefined). glenn beck teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, prior to you'll have the ability to purchase cryptocurrencies directly through your trading software application. And can you picture what will take place to this entire marketplace when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari review - undefined.
Today you discussed the procedure that individuals go through, and something I want to bring to light too that you didn't mention, however I understand a great deal of folks who have problem with this too, is oh, and by the method, you can only buy $1,000 a week. Or you can just purchase $500 a week.
As difficult as possible, right, like Coinbase. It 'd take me permanently prior to I might start buying in size on Coinbase. They resemble, well, we'll let you purchase $500 a week, Teeka (teeka tiwari picks). I mean, it's if you remember the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I suggest it would take 20 minutes to load a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I indicate, we remain in the early days of that technology, however much like during that time period, for the folks that had the vision to see where the future was going, and after that purchased in on some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, due to the fact that I'm constantly curious to speak with people who are, specifically someone like yourself, who's devoted the last, you know, the lion's share of the last few years to really go both feet in on this - teeka tiwari next bitcoin. How do you describe cryptocurrency to like an average individual? That's an excellent question.
They're two absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to cash. So Bitcoin would be a cryptocurrency. Therefore what gives it worth is that it is, there's just going to be a restricted amount. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, verifying the deals on the Bitcoin network. And so if you take a look at that Bitcoin network, people continuously try to hack it. However due to the fact that of the nature of the network, today it's been unhackable. And really, with existing technology, the Bitcoin network is so huge today, you can't co-opt it, you can't take it over (undefined).
And so when individuals put, you have actually got people who have actually own billions of dollars worth of Bitcoin. And they're making that bet since they're stating, "We don't trust paper cash, you can print an unlimited amount of it. It's actually not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], proceed.
Yeah (teeka tiwari reviews). Or individuals that were in Cypress, or just individuals who have suffered through either run-away inflation, or there's a high need for, in Argentina for instance, high demand for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, due to the fact that they currently don't believe in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western investors have a bumpy ride getting their head around. teeka tiwari palm beach. They're like, "Well I don't need Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. However there are billions of people on the planet that don't have steady currencies.
Yeah. Therefore there's this entire burgeoning international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari 5 coins. And utility coins are generally used, let's say Ethereum, which a lot of people understand about Ethereum. Ethereum is essentially a global computer system that you can write computer programs for and run computer system programs on a worldwide decentralized computer system program.
So we think about something like Ether an utility token, because you're essentially buying programming power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari glenn beck. And there are other ones out there, to give people a concept, like a very simple one that I would envision you 'd called an utility token, resembles FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's type of this same kind of network result that you have with Bitcoin, where it resembles unstoppable kind of thing, since it's on many various locations and. I do not know the ins and outs of it, however as an example for someone who may just be very basic in their understanding of this, there are numerous various types of utilities that are offered.
And you type of pointed out having this boots on the ground experience. Now, considering that we're looking at the bulk of these are most likely energy based, remedy? Mm-hmm (affirmative). Most of the coins that I advise and take a look at are utility-based. We have a few cryptocurrencies, however I think the real chance depends on the energy coin space.
There's all of these ICOs that were taking place, those slowed down a little bit with some modifications to a few things that was going on, but people are going to come out of the woodwork and begin to develop utility coins- Correct, yeah. And individuals need to understand that not all energy coins are developed equal - glenn beck teeka tiwari.
So you have the benefit of committing your occupation to this, so you can head out there and do the recon, you can fulfill the founders, you can examine the code, etc. However for an average individual, there's now what, over 1,000 different types of coins readily available, nearly 1,200 I think. 'Cause normally it'll crash 80% approximately. And that's when we truly begin taking a look at the concept in more information. So here are some fast and dirty things that you should take a look at, right? So, one is, are they resolving an issue that requires to be resolved? Among the big drawbacks with really smart, technical individuals, is that they like to resolve issues that no one cares about resolving. teeka tiwari wikipedia.
Does the team have experience of performing in a successful manner in another location of their life? And it doesn't even have to be directly related to cryptocurrency, it does not need to be even directly related to software application, right? So, however I desire to see a track record of success in something, right? If it's 4 men in a space that are simply out of college, unless they've got some actually great advisors behind them, I'm most likely not going to provide any cash - teeka tiwari wikipedia.
Yeah. I believe that in marketing in basic, my world of service, we constantly look for problems and how we can solve them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain typically? Or would you say it's much better if they're solving kind of a mass problem? Something like FileCoin, or something else that would be more mass appeal? Or is it a mix of both? Well I'm basically trying to find services that, so I'll provide you an example - teeka tiwari glenn beck. undefined.
And the factor that we purchased it is because they found a way to make documents tamper-proof, and it's 99% cheaper than present technology, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the person that began it has a performance history of producing computer programs that whole states run their whole operations on, right? So you've got alright, the smart person has actually built huge computer programs, great group, resolving a huge problem that is going to cut big expenses.
I imply, it doesn't get any simpler than that in regards to choosing who to put cash behind. And a great deal of this prevails sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly easy guideline, Ryan. If I don't understand something, I installed my hand, and I say, "I didn't comprehend what you simply stated." Mm-hmm (affirmative).