However scams and little frauds. And there's one thing that a fraud always does: it constantly goes to zero - teeka tiwari next bitcoin. 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.
Therefore I can't disregard that. I have actually got to go dig deeper. teeka tiwari." And so I started taking a trip all around the world. I started going to Bitcoin events; I started to talking to individuals that were smarter than me in this area. And what I recognized is that Blockchain technology and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The implications of that, of being able to have data that we do not need to have it independently confirmed, it's cryptographically validated. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I understood I had to dedicate all my professional resources into ending up being a professional in this area.
And do you think, I mean you discussed something there about not needing to get a third-party, or intermediary to confirm 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 might not even totally understand recognition process [inaudible 00:04:11].
We were simply discussing how I'm leaving to go to China, to China. And heaven prohibited it's over $10,000, and after that suddenly there's other people getting informed about it, like the IRS and things like that. Do you believe that the average folks don't maybe understand about these processes, so they do not maybe see what you're saying as this development, they don't see it in their daily life? Or what do you think of 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've got to go to an exchange, you have actually got to publish your identity files, then you have actually got to wait to get validated, and then finally, you can go purchase some Bitcoin.
So, a lot of people discover that too troublesome, and that's why the people that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that are prepared to put in possibly the 20 minutes needed to go through a procedure which just takes 5 minutes if you wish to set up a brokerage account - teeka tiwari next bitcoin.
"Oh Teeka, we like your ideas, however gosh, setting up a crypto account is so challenging." What I inform them is I state, "Look, when it's easy as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The entire cryptocurrency market will be 10x larger. So you're actually truly making money an enormous quantity of money to go through maybe, you understand, 20 minutes of a discomfort in the neck (undefined). teeka tiwari net worth.
So you can't buy Bitcoin yet through their trading platform, however it is simply a question of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software application. And can you envision what will happen to this entire marketplace when buying Bitcoin or any cryptocurrency is as easy as firing up your e-trade, or fidelity tradings platform - teeka tiwari glenn beck - undefined.
Today you discussed the process that individuals go through, and something I wish to expose too that you didn't point out, but I understand a lot of folks who have a hard time with this too, is oh, and by the way, you can only buy $1,000 a week. Or you can just buy $500 a week.
As tough as possible, ideal, like Coinbase. It 'd take me forever prior to I could start purchasing in size on Coinbase. They're like, well, we'll let you buy $500 a week, Teeka (glenn beck teeka tiwari). I indicate, it's if you remember the early days of the Internet, when we were getting on the Web, we were doing it with 56k modems, right? I mean 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 suggest, we're in the early days of that technology, but just like during that amount of time, for the folks that had the vision to see where the future was going, and then bought in on a few of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a second, because I'm always curious to speak to individuals who are, especially someone like yourself, who's committed the last, you understand, the lion's share of the last couple of years to truly go both feet in on this - teeka tiwari reviews. How do you explain cryptocurrency to like a typical individual? That's a great question.
They're 2 absolutely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is trying to be an alternative to money. So Bitcoin would be a cryptocurrency. And so what provides it value is that it is, there's only going to be a limited quantity. 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 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 truly, with present technology, the Bitcoin network is so huge right now, 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 because they're saying, "We don't trust paper money, you can print an unrestricted amount of it. It's really not secure, and the federal government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, ideal [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari). Or individuals that remained in Cypress, or just people who have actually suffered through either hyperinflation, or there's a high demand for, in Argentina for example, high need for a black market of U.S. dollars. Correct. Are those nations that could possibly be a driver for more adoption, because they currently don't believe in their own currency? Yeah, and I think we've currently 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 twitter. They resemble, "Well I do not require Bitcoin, I have money." Well yeah, you're right, you've got a stable currency, right? You don't require Bitcoin. But there are billions of people in the world that do not have stable currencies.
Yeah. And so there's this entire blossoming global demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called utility coins - teeka tiwari. And utility coins are basically utilized, let's state Ethereum, which a great deal of people understand about Ethereum. Ethereum is essentially a worldwide computer system that you can write computer system programs for and run computer system programs on an internationally decentralized computer program.
So we think about something like Ether an utility token, due to the fact that you're basically buying shows power. So I wouldn't really think about Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari 5 coins. And there are other ones out there, to offer people a concept, like an extremely basic one that I would envision you 'd called an utility token, is like FileCoin.
Where the concept is that generally you're hosting files through a peer-based network, and there's type of this very same kind of network result that you have with Bitcoin, where it resembles unstoppable example, due to the fact that it's on many various areas and. I don't understand the ins and outs of it, however as an example for someone who may simply be very standard in their understanding of this, there are a lot of different kinds of energies that are readily available.
And you kind of pointed out having this boots on the ground experience. Now, because we're looking at the bulk of these are most likely energy based, remedy? Mm-hmm (affirmative). Most of the coins that I recommend and look at are utility-based. We have a few cryptocurrencies, however I believe the genuine chance depends on the utility coin area.
There's all of these ICOs that were occurring, those slowed down a little bit with some changes to a couple of things that was going on, but individuals are going to come out of the woodwork and start to produce energy 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 dedicating your occupation to this, so you can head out there and do the reconnaissance, you can satisfy the creators, you can examine the code, etc. But for a typical individual, there's now what, over 1,000 various types of coins available, almost 1,200 I think. 'Cause typically it'll crash 80% or so. And that's when we actually start taking a look at the idea in more detail. So here are some quick and dirty things that you should take a look at, right? So, one is, are they fixing a problem that needs to be solved? Among the huge disadvantages with extremely clever, technical people, is that they like to resolve problems that no one cares about fixing. teeka tiwari reviews.
Does the group have experience of executing in a successful manner in another location of their life? And it doesn't even need to be straight associated to cryptocurrency, it does not have to be even straight associated to software, right? So, but I wish to see a track record of success in something, right? If it's four guys in a space that are simply out of college, unless they've got some actually excellent advisors behind them, I'm most likely not going to provide any money - teeka tiwari picks.
Yeah. I think that in marketing in basic, my world of organization, we continuously try to find problems and how we can solve them. Now, are the issues things that people are trying to resolve a part of the Blockchain typically? Or would you say it's much better if they're resolving 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 looking for services that, so I'll provide you an example - teeka tiwari glenn beck. undefined.
And the factor that we bought it is due to the fact that they discovered a way to make files tamper-proof, and it's 99% cheaper than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And then on top of that, the guy that started it has a performance history of creating computer system programs that whole states run their whole operations on, right? So you've got alright, the wise person has developed huge computer programs, excellent team, resolving a huge problem that is going to cut substantial expenses.
I indicate, it does not get any simpler than that in regards to choosing who to put money behind. And a lot 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 rule, Ryan. If I do not comprehend something, I put up my hand, and I say, "I didn't understand what you simply said." Mm-hmm (affirmative).