However scams and small frauds. And there's one thing that a fraud always does: it always goes to 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 enormous hack. And that woke something up for me.
And so I can't disregard that. I have actually got to go dig deeper. teeka tiwari reviews." Therefore I started taking a trip all around the world. I began going to Bitcoin events; I started to speaking with people that were smarter than me in this space. And what I realized is that Blockchain innovation and the execution of Blockchain technology by the Bitcoin network was transformational.
Which, Ryan, is, I can't overstate how enormous that is! The ramifications of that, of being able to have data that we don't require to have it separately validated, it's cryptographically verified. That principle can ripple out throughout the whole greater economy. And when that penny dropped, I knew I needed to commit all my professional resources into ending up being a specialist in this space.
And do you think, I mean you discussed something there about not having to get a third-party, or intermediary to validate 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 might not even completely understand validation procedure [inaudible 00:04:11].
We were just discussing how I'm leaving to go to China, to China. And heaven forbid it's over $10,000, and then suddenly there's other individuals getting alerted about it, like the IRS and things like that. Do you believe that the typical folks do not maybe learn about these procedures, so they do not possibly see what you're stating as this breakthrough, they don't see it in their everyday life? Or what do you consider that? I think that's real.
It's not as easy as firing up a web internet browser and going to e-trade. com and pushing a buy button and purchasing it, right? You've got to go to an exchange, you've got to upload your identity files, then you've got to wait to get verified, and then lastly, you can go purchase some Bitcoin.
So, a lot of people find that too troublesome, and that's why individuals that are literally making the most amount of money today in cryptocurrencies are the early adopters: people that want to put in maybe the 20 minutes required to go through a procedure which simply takes five minutes if you want to establish a brokerage account - glenn beck teeka tiwari.
"Oh Teeka, we love your ideas, however gosh, setting up a crypto account is so tough." What I inform them is I say, "Look, when it's simple as going to your Fidelity account, Bitcoin will be $20,000 a coin," right? The entire cryptocurrency market will be 10x bigger. So you're in fact really getting paid a huge amount of money to go through maybe, you understand, 20 minutes of a nuisance (undefined). teeka tiwari wikipedia.
So you can't buy Bitcoin yet through their trading platform, however it is just a question of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you picture what will happen to this entire market 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 pointed out the process that people go through, and something I wish to expose too that you didn't mention, but I understand a lot of folks who deal with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can only buy $500 a week.
As difficult as possible, best, like Coinbase. It 'd take me permanently prior to I could begin purchasing in size on Coinbase. They're like, well, we'll let you purchase $500 a week, Teeka (teeka tiwari glenn beck). I imply, 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 suggest 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 indicate, we're in the early days of that innovation, however much like throughout 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 companies, they made an absolute fortune.
Mm-hmm (affirmative). And let's take a step back for a 2nd, because I'm always curious to talk with individuals who are, particularly someone like yourself, who's devoted the last, you know, the lion's share of the last couple of years to really go both feet in on this - teeka tiwari palm beach. How do you explain cryptocurrency to like a typical person? That's a terrific concern.
They're 2 completely 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 offers it value is that it is, there's just going to be a limited quantity. 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. Therefore if you look at that Bitcoin network, individuals constantly try to hack it. But since of the nature of the network, today it's been unhackable. And truly, with present innovation, the Bitcoin network is so huge right now, you can't co-opt it, you can't take it over (undefined).
Therefore when individuals put, you have actually 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 money, you can print an unlimited amount of it. It's truly not protect, and the government can take it far from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari reviews). Or people that were in Cypress, or simply individuals who have suffered through either devaluation, 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 catalyst for more adoption, since they currently do not believe in their own currency? Yeah, and I believe we have actually currently seen that.
So yes, and this is a thing that a great deal of American or Western investors have a difficult time getting their head around. teeka tiwari picks. They resemble, "Well I do not need Bitcoin, I have cash." Well yeah, you're right, you've got a steady currency, right? You don't need Bitcoin. But there are billions of individuals worldwide that don't have stable currencies.
Yeah. Therefore there's this entire blossoming international demand for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's an entire 'nother coin called utility coins - teeka tiwari. And energy coins are essentially utilized, let's state Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is essentially a global computer system that you can compose computer system programs for and run computer programs on a worldwide decentralized computer system program.
So we consider something like Ether an utility token, because you're essentially buying shows power. So I wouldn't truly consider Ether a cryptocurrency, I would call them an energy coin. Okay. teeka tiwari review. And there are other ones out there, to give individuals an idea, like an extremely simple one that I would envision you 'd called an energy token, is like FileCoin.
Where the concept is that essentially you're hosting files through a peer-based network, and there's kind of this very same type of network effect that you have with Bitcoin, where it resembles unstoppable example, since it's on so many various areas and. I do not know the ins and outs of it, however as an example for somebody who may simply be very basic in their understanding of this, there are numerous different kinds of utilities that are available.
And you kind of mentioned having this boots on the ground experience. Now, because we're looking at the bulk of these are probably energy based, fix? Mm-hmm (affirmative). Many of the coins that I recommend and take a look at are utility-based. We have a couple of cryptocurrencies, however I think the real chance lies in the energy coin area.
There's all of these ICOs that were happening, those decreased a bit with some changes to a couple of things that was going on, however people are going to come out of the woodwork and begin to create energy coins- Correct, yeah. And people require to comprehend that not all energy coins are created equivalent - teeka tiwari wikipedia.
So you have the advantage of dedicating your profession to this, so you can go out there and do the reconnaissance, you can meet the founders, you can check the code, and so on. But for an average person, there's now what, over 1,000 various kinds of coins readily available, nearly 1,200 I think. 'Cause generally it'll crash 80% approximately. And that's when we truly start looking at the idea in more detail. So here are some fast and unclean things that you should take a look at, right? So, one is, are they solving an issue that requires to be solved? Among the big drawbacks with extremely wise, technical individuals, is that they like to solve problems that no one cares about fixing. teeka tiwari reviews.
Does the group have experience of carrying out in an effective manner in another location of their life? And it does not even have to be directly related to cryptocurrency, it does not have to be even straight related to software application, right? So, but I desire to see a track record of success in something, right? If it's 4 guys in a space that are simply out of college, unless they've got some really great consultants behind them, I'm most likely not going to provide any money - teeka tiwari review.
Yeah. I think that in marketing in basic, my world of organization, we constantly search for problems and how we can fix them. Now, are the issues things that people are trying to resolve a part of the Blockchain generally? Or would you state it's much better if they're solving kind 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 options that, so I'll provide you an example - glenn beck teeka tiwari. undefined.
And the factor that we purchased it is since they found a method to make files tamper-proof, and it's 99% less expensive 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 performance history of producing computer programs that entire states run their whole operations on, right? So you have actually got alright, the smart guy has built substantial computer programs, great team, fixing a massive problem that is going to cut huge costs.
I mean, it does not get any simpler than that in terms of 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 complicated than it is. And I have an actually simple guideline, Ryan. If I do not comprehend something, I put up my hand, and I say, "I didn't understand what you just stated." Mm-hmm (affirmative).