But scams and little frauds. And there's something that a scams constantly does: it constantly 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 huge hack. Which woke something up for me.
And so I can't ignore that. I have actually got to go dig deeper. teeka tiwari twitter." And so I began traveling all around the world. I started going to Bitcoin events; I began to talking with individuals that were smarter than me in this area. And what I recognized is that Blockchain innovation and the application of Blockchain technology by the Bitcoin network was transformational.
And that, Ryan, is, I can't overemphasize how massive that is! The implications of that, of being able to have data that we do not require to have it separately validated, it's cryptographically validated. That concept can ripple out throughout the whole greater economy. And when that cent dropped, I knew I had to devote all my expert resources into becoming a specialist in this space.
And do you think, I indicate you pointed out 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 lot of folks might not even fully comprehend recognition procedure [inaudible 00:04:11].
We were simply speaking about 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 notified about it, like the Internal Revenue Service and things like that. Do you believe that the typical folks don't maybe learn about these procedures, so they don't 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 shooting 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 submit your identity documents, then you've got to wait to get confirmed, and then lastly, you can go purchase some Bitcoin.
So, a great deal of individuals discover that too bothersome, and that's why individuals that are literally making the most amount of cash right now 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 desire to establish a brokerage account - teeka tiwari palm beach.
"Oh Teeka, we love your ideas, but gosh, establishing a crypto account is so difficult." 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 entire cryptocurrency market will be 10x bigger. So you're actually really making money a huge amount of cash to go through maybe, you understand, 20 minutes of a headache (undefined). teeka tiwari picks.
So you can't buy Bitcoin yet through their trading platform, but it is simply a concern of time, Ryan, before you'll have the ability to buy cryptocurrencies directly through your trading software application. And can you envision what will take place to this whole market when buying Bitcoin or any cryptocurrency is as simple as firing up your e-trade, or fidelity tradings platform - teeka tiwari twitter - undefined.
Right now you pointed out the process that people go through, and something I desire to bring to light too that you didn't mention, but I know a lot of folks who have a hard time with this too, is oh, and by the method, you can just purchase $1,000 a week. Or you can just buy $500 a week.
As difficult as possible, ideal, like Coinbase. It 'd take me permanently prior to I might start buying in size on Coinbase. They're like, well, we'll let you buy $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 Internet, 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 mean, we're in the early days of that innovation, but simply 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 some of these young business, they made an absolute fortune.
Mm-hmm (affirmative). And let's take an action back for a second, since I'm always curious to speak with individuals who are, specifically somebody like yourself, who's devoted the last, you understand, the bulk of the last couple of years to really go both feet in on this - teeka tiwari wikipedia. How do you explain cryptocurrency to like an average person? That's a great question.
They're two completely various things, but they're both called cryptocurrencies. A cryptocurrency is a cryptographic token that is attempting to be an alternative to money. So Bitcoin would be a cryptocurrency. And so what gives it worth is that it is, there's only going to be a restricted quantity. There'll never ever be more than 21 million Bitcoin.
There are billions of dollars worth of computers, validating the transactions on the Bitcoin network. And so if you take a look at that Bitcoin network, individuals continuously attempt to hack it. However since of the nature of the network, today it's been unhackable. And truly, with current technology, the Bitcoin network is so big today, you can't co-opt it, you can't take it over (undefined).
And so when people put, you have actually got individuals who have literally own billions of dollars worth of Bitcoin. And they're making that bet because they're saying, "We do not rely on paper cash, you can print a limitless amount of it. It's actually not secure, and the government can take it away from you." [crosstalk 00:10:15] - Whereas with Bitcoin, best [crosstalk 00:10:16], go ahead.
Yeah (teeka tiwari twitter). Or people 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 demand for a black market of U.S. dollars. Correct. Are those countries that could potentially be a driver for more adoption, because they already do not think in their own currency? Yeah, and I believe we've currently seen that.
So yes, and this is a thing that a great deal of American or Western financiers have a hard time getting their head around. teeka tiwari palm beach. They're like, "Well I do not require 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 whole growing worldwide need for cryptocurrencies. So anyway, that's one coin, cryptocurrencies, and there's a whole 'nother coin called energy coins - glenn beck teeka tiwari. And utility coins are generally utilized, let's say Ethereum, which a great deal of individuals understand about Ethereum. Ethereum is basically a worldwide computer that you can compose computer system programs for and run computer system programs on a worldwide decentralized computer system program.
So we think about something like Ether an utility token, since you're essentially purchasing shows power. So I wouldn't actually 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 people a concept, like a very simple one that I would imagine you 'd called an energy token, is like FileCoin.
Where the idea is that generally you're hosting files through a peer-based network, and there's kind of this very same type of network impact that you have with Bitcoin, where it's like unstoppable example, due to the fact that it's on so lots of different areas and. I do not know the ins and outs of it, however as an example for somebody who may just be very standard in their understanding of this, there are many various types of utilities that are readily available.
And you kind of pointed out having this boots on the ground experience. Now, since we're taking a look at the bulk of these are probably energy based, correct? Mm-hmm (affirmative). The majority of the coins that I recommend and take a look at are utility-based. We have a few cryptocurrencies, but I believe the genuine chance depends on the energy coin space.
There's all of these ICOs that were happening, those slowed down a bit with some changes to a couple of things that was going on, however individuals are going to come out of the woodwork and begin to produce utility coins- Correct, yeah. And people need to understand that not all utility coins are produced equal - teeka tiwari twitter.
So you have the benefit of committing your occupation to this, so you can go out there and do the reconnaissance, you can satisfy the founders, you can check the code, etc. However for a typical individual, there's now what, over 1,000 various kinds of coins readily available, practically 1,200 I believe. 'Cause generally it'll crash 80% or two. And that's when we truly start taking a look at the idea in more detail. So here are some fast and dirty things that you should look at, right? So, one is, are they solving an issue that requires to be fixed? One of the huge downsides with really wise, technical people, is that they like to resolve problems that nobody cares about fixing. teeka tiwari.
Does the group have experience of executing in an effective manner in another area of their life? And it doesn't even need to be directly associated to cryptocurrency, it does not have to be even directly related to software, right? So, but I wish to see a performance history of success in something, right? If it's 4 guys in a room that are just out of college, unless they've got some really great consultants behind them, I'm probably not going to offer them any money - teeka tiwari review.
Yeah. I believe that in marketing in general, my world of company, we constantly look for issues and how we can solve them. Now, are the problems things that individuals are trying to fix a part of the Blockchain typically? Or would you say it's better if they're solving type 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 options that, so I'll give you an example - teeka tiwari net worth. undefined.
And the reason that we purchased it is because they found a method to make documents 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 person that started it has a performance history of creating computer programs that entire states run their entire operations on, right? So you have actually got all right, the clever guy has built big computer programs, terrific group, solving a huge problem that is going to cut huge expenses.
I indicate, it doesn't get any easier than that in terms of deciding who to put money behind. And a lot of this is common sense, and a lot of folks will attempt to make things more complex 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 said." Mm-hmm (affirmative).