However frauds and small frauds. And there's one thing that a fraud always does: it constantly goes to zero - teeka tiwari. However Bitcoin didn't. Bitcoin still had a multi-billion dollar net worth, even after crashing, even after all the bad news came out. The massive hack. And that woke something up for me.
Therefore I can't disregard that. I have actually got to go dig deeper. teeka tiwari palm beach." Therefore I started traveling all around the world. I began going to Bitcoin events; I began to speaking to people that were smarter than me in this area. And what I recognized is that Blockchain technology and the implementation of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of being able to have information that we do not require to have it separately validated, it's cryptographically validated. That principle can ripple out throughout the whole higher economy. And when that penny dropped, I understood I had to devote all my expert resources into becoming an expert in this area.
And do you believe, I imply you discussed something there about not needing to get a third-party, or intermediary to verify 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 totally comprehend recognition process [inaudible 00:04:11].
We were simply discussing how I'm delegating go to China, to China. And paradise forbid it's over $10,000, and then suddenly there's other individuals getting informed about it, like the Internal Revenue Service and things like that. Do you think that the average folks do not maybe learn about these processes, so they don't maybe see what you're stating as this development, they do not see it in their daily life? Or what do you believe about that? I believe that holds true.
It's not as simple as shooting up a web internet browser and going to e-trade. com and pushing a buy button and buying it, right? You have actually got to go to an exchange, you have actually got to publish your identity documents, then you've got to wait to get confirmed, and after that lastly, you can go buy some Bitcoin.
So, a lot of individuals discover that too troublesome, which's why the individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: individuals that want to put in perhaps the 20 minutes needed to go through a procedure which just takes 5 minutes if you wish to establish a brokerage account - teeka tiwari reviews.
"Oh Teeka, we like your concepts, but 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 larger. So you're actually truly getting paid an enormous amount of money to go through possibly, you know, 20 minutes of a discomfort in the neck (undefined). teeka tiwari.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll be able to buy cryptocurrencies straight through your trading software application. And can you picture what will happen to this whole marketplace when purchasing Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari - undefined.
Today you pointed out the procedure that individuals go through, and one thing I wish to expose too that you didn't point out, but I know a great deal of folks who battle with this too, is oh, and by the way, you can just buy $1,000 a week. Or you can only purchase $500 a week.
As challenging as possible, right, like Coinbase. It 'd take me permanently before I could start buying in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari picks). I suggest, it's if you keep in mind the early days of the Internet, when we were getting on the Internet, we were doing it with 56k modems, right? I indicate it would take 20 minutes to pack a page.
Even when AOL came on board, and you 'd call AOL, and you 'd be on hold for 90 minutes. I imply, we remain in the early days of that technology, but just 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 companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a 2nd, since I'm always curious to speak with individuals who are, particularly somebody like yourself, who's dedicated the last, you understand, the much better part of the last couple of years to truly go both feet in on this - teeka tiwari review. How do you explain cryptocurrency to like an average person? That's a great concern.
They're 2 completely different things, however they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an option to cash. So Bitcoin would be a cryptocurrency. And so what gives it value is that it is, there's only going to be a limited amount. There'll never be more than 21 million Bitcoin.
There are billions of dollars worth of computer systems, confirming the transactions on the Bitcoin network. And so if you take a 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 truly, with current technology, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
And so when people put, you've got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet due to the fact that they're saying, "We don't trust paper currency, you can print an unlimited quantity of it. It's actually not protect, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go on.
Yeah (teeka tiwari picks). Or individuals that remained in Cypress, or simply individuals who have suffered through either devaluation, 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 driver for more adoption, since they already don't believe in their own currency? Yeah, and I think we have actually currently seen that.
So yes, and this is a thing that a lot of American or Western financiers have a difficult time getting their head around. teeka tiwari picks. They're like, "Well I don't need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't require Bitcoin. But there are billions of people worldwide that do not have stable currencies.
Yeah. And so there's this whole growing global need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called energy coins - teeka tiwari net worth. And utility coins are essentially utilized, let's state Ethereum, which a lot of people understand about Ethereum. Ethereum is basically a worldwide computer that you can compose computer programs for and run computer programs on an internationally decentralized computer system program.
So we think about something like Ether an energy token, because you're essentially buying programming power. So I wouldn't really consider Ether a cryptocurrency, I would call them an utility coin. Okay. teeka tiwari picks. And there are other ones out there, to offer people a concept, like a really simple one that I would envision you 'd called an utility token, resembles FileCoin.
Where the concept is that basically you're hosting files through a peer-based network, and there's type of this exact same kind of network result that you have with Bitcoin, where it resembles unstoppable kind of thing, because it's on many different areas and. I don't understand the ins and outs of it, but as an example for someone who may simply be really basic in their understanding of this, there are numerous different types of energies that are readily available.
And you sort of discussed having this boots on the ground experience. Now, considering that we're taking a look at the bulk of these are probably utility based, fix? Mm-hmm (affirmative). Many of the coins that I suggest and look at are utility-based. We have a few cryptocurrencies, however I believe the genuine chance depends on the energy coin space.
There's all of these ICOs that were occurring, those slowed down a little bit with some modifications to a couple of things that was going on, but people are going to come out of the woodwork and start to create utility coins- Correct, yeah. And people require to comprehend that not all energy coins are developed equivalent - teeka tiwari net worth.
So you have the advantage of dedicating your profession to this, so you can go out there and do the recon, you can fulfill the creators, you can inspect the code, and so on. But for an average individual, there's now what, over 1,000 different kinds of coins offered, almost 1,200 I think. 'Cause typically it'll crash 80% or two. And that's when we truly start looking at the concept in more information. So here are some quick and filthy things that you should look at, right? So, one is, are they resolving an issue that requires to be resolved? One of the big drawbacks with really clever, technical individuals, is that they like to solve problems that no one appreciates solving. teeka tiwari net worth.
Does the team have experience of carrying out in a successful way in another location of their life? And it doesn't even have to be directly related to cryptocurrency, it doesn't have to be even directly associated to software application, right? So, but I wish to see a track record of success in something, right? If it's 4 people in a room that are just out of college, unless they've got some really excellent consultants behind them, I'm probably not going to provide any cash - teeka tiwari.
Yeah. I believe that in marketing in basic, my world of business, we constantly search for problems and how we can resolve them. Now, are the issues things that individuals are attempting to fix a part of the Blockchain normally? Or would you say it's better if they're resolving 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 trying to find solutions that, so I'll offer you an example - teeka tiwari net worth. undefined.
And the factor that we purchased it is since they discovered a method to make files tamper-proof, and it's 99% more affordable than existing innovation, right? So that's yeah, it's a no-brainer, right? Right. And after that on top of that, the man that began it has a track record of producing computer programs that whole states run their entire operations on, right? So you've got alright, the clever guy has constructed substantial computer programs, excellent team, resolving an enormous issue that is going to cut big expenses.
I imply, it doesn't get any easier than that in regards to deciding who to put money behind. And a great deal of this is common sense, and a great deal of folks will try to make things more complex than it is. And I have a truly simple rule, Ryan. If I don't comprehend something, I set up my hand, and I state, "I didn't understand what you just said." Mm-hmm (affirmative).