However frauds and small frauds. And there's something that a scams constantly does: it always goes to zero - teeka tiwari reviews. But Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the problem came out. The enormous hack. Which woke something up for me.
Therefore I can't overlook that. I've got to go dig much deeper. teeka tiwari wikipedia." Therefore I began traveling all around the world. I began going to Bitcoin events; I started to talking to individuals that were smarter than me in this space. And what I realized is that Blockchain innovation and the implementation of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how massive that is! The ramifications of that, of having the ability to have data that we do not need to have it independently validated, it's cryptographically verified. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I knew I needed to dedicate all my expert resources into becoming an expert in this area.
And do you think, I imply you mentioned something there about not needing to get a third-party, or intermediary to confirm something. Do you feel that part of the reason that this isn't getting as much mass adoption is that a great deal of folks may not even totally comprehend recognition procedure [inaudible 00:04:11].
We were just talking about how I'm leaving to go to China, to China. And paradise forbid it's over $10,000, and after that all of an abrupt there's other individuals getting notified about it, like the IRS and things like that. Do you believe that the average folks don't possibly understand about these procedures, so they don't perhaps see what you're stating as this advancement, they do not see it in their daily life? Or what do you consider that? I believe that holds true.
It's not as simple as firing up a web browser and going to e-trade. com and pressing a buy button and buying it, right? You have actually got to go to an exchange, you've got to upload your identity documents, then you have actually got to wait to get verified, and then finally, you can go buy some Bitcoin.
So, a great deal of people find that too bothersome, which's why the people that are actually making the most amount of cash right now in cryptocurrencies are the early adopters: people that want to put in possibly the 20 minutes required to go through a process which just takes five minutes if you wish to set up a brokerage account - teeka tiwari review.
"Oh Teeka, we love your ideas, however gosh, setting up a crypto account is so tough." What I tell them is I say, "Look, when it's easy 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 actually truly making money an enormous amount of money to go through maybe, you know, 20 minutes of a headache (undefined). teeka tiwari picks.
So you can't purchase Bitcoin yet through their trading platform, but it is simply a question of time, Ryan, before you'll be able to buy cryptocurrencies directly through your trading software. And can you envision what will take place to this entire market when purchasing Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari next bitcoin - undefined.
Right now you pointed out the process that people go through, and one thing I wish to expose too that you didn't point out, however I know a lot of folks who struggle with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can just purchase $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me permanently prior to I might begin buying in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari picks). I indicate, it's if you keep in mind the early days of the Web, when we were getting on the Web, we were doing it with 56k modems, right? I imply 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 mean, we remain in the early days of that technology, but similar to during that duration of time, for the folks that had the vision to see where the future was going, and after that bought in on a few of these young companies, they made an outright fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, because I'm constantly curious to speak with individuals who are, particularly someone like yourself, who's committed the last, you know, the bulk of the last few years to truly go both feet in on this - teeka tiwari palm beach. How do you explain cryptocurrency to like an average person? That's an excellent concern.
They're two absolutely various things, but 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 value is that it is, there's only going to be a minimal amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computers, verifying the deals on the Bitcoin network. And so if you look at that Bitcoin network, people constantly attempt to hack it. But since of the nature of the network, today it's been unhackable. And really, with present technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
Therefore when people put, you have actually got people who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're stating, "We don't rely on paper currency, you can print an unrestricted amount of it. It's truly not protect, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, right [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari next bitcoin). Or people that remained in Cypress, or simply people who have suffered through either run-away inflation, or there's a high need for, in Argentina for instance, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a catalyst for more adoption, due to the fact that they already don't think in their own currency? Yeah, and I believe we have actually already seen that.
So yes, and this is a thing that a lot of American or Western investors have a difficult time getting their head around. teeka tiwari next bitcoin. They resemble, "Well I don't require Bitcoin, I have money." Well yeah, you're right, you've got a steady currency, right? You do not need Bitcoin. However there are billions of people worldwide that do not have stable currencies.
Yeah. And so there's this whole growing international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari. And energy coins are essentially utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically a global computer system that you can compose computer programs for and run computer system programs on a globally decentralized computer system program.
So we consider something like Ether an utility token, since you're essentially purchasing shows power. So I would not truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. glenn beck teeka tiwari. And there are other ones out there, to give individuals a concept, like an extremely simple one that I would picture you 'd called an utility token, is like FileCoin.
Where the idea is that basically you're hosting files through a peer-based network, and there's kind of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable example, since it's on so many different areas and. I don't understand the ins and outs of it, but as an example for somebody who may just be really fundamental in their understanding of this, there are so lots of different types of energies that are readily available.
And you kind of mentioned having this boots on the ground experience. Now, given that we're looking at the bulk of these are probably energy based, fix? Mm-hmm (affirmative). The majority of the coins that I suggest and look at are utility-based. We have a couple of cryptocurrencies, however I believe the real opportunity depends on the utility coin area.
There's all of these ICOs that were occurring, those slowed down a bit with some changes to a few things that was going on, however people are going to come out of the woodwork and start to produce energy coins- Correct, yeah. And people need to comprehend that not all energy coins are developed equal - teeka tiwari 5 coins.
So you have the advantage of dedicating your profession to this, so you can head out there and do the recon, you can meet the founders, you can examine the code, etc. But for an average person, there's now what, over 1,000 different types of coins available, nearly 1,200 I believe. 'Cause generally it'll crash 80% or so. Which's when we truly begin looking at the idea in more detail. So here are some quick and unclean things that you should take a look at, right? So, one is, are they solving a problem that needs to be resolved? Among the huge downsides with really clever, technical individuals, is that they like to fix problems that nobody cares about fixing. teeka tiwari.
Does the group have experience of executing in a successful way in another location of their life? And it does not even have to be directly related to cryptocurrency, it does not need to be even straight associated to software application, right? So, however I wish to see a performance history of success in something, right? If it's 4 men in a space that are simply out of college, unless they've got some truly great consultants behind them, I'm most likely not going to offer them any cash - glenn beck teeka tiwari.
Yeah. I think that in marketing in general, my world of company, we continuously try to find problems and how we can resolve them. Now, are the problems things that individuals are attempting to solve a part of the Blockchain usually? Or would you state it's much better if they're solving sort of a mass issue? Something like FileCoin, or something else that would be more mass appeal? Or is it a mix of both? Well I'm basically searching for solutions that, so I'll offer you an example - teeka tiwari next bitcoin. undefined.
And the reason that we bought it is since they found a way to make files tamper-proof, and it's 99% less expensive than current technology, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the person that started it has a track record of producing computer programs that entire states run their whole operations on, right? So you've got all right, the clever guy has constructed substantial computer system programs, excellent group, solving a massive problem that is going to cut substantial costs.
I suggest, it doesn't get any easier than that in terms of choosing who to put money behind. And a lot of this is typical sense, and a great deal of folks will attempt to make things more complex than it is. And I have a truly simple rule, Ryan. If I do not comprehend something, I put up my hand, and I state, "I didn't comprehend what you simply said." Mm-hmm (affirmative).